Greece Bolsters Defence: A 25 Billion Euro Modernization Initiative

Greece aims to invest 25 billion euros in a defence modernization plan extending to 2036, including acquisitions of submarines, drones, and a communications satellite. This initiative aims to enhance Greece's military capabilities post-debt crisis and address tensions with Turkey, while maintaining fiscal responsibility amidst EU spending pressures.

In a significant move to modernize its military capabilities, Greece has announced a 25 billion euros ($26.99 billion) defence plan, unveiled by Prime Minister Kyriakos Mitsotakis in parliament. This ambitious project aims to advance Greece's armed forces as the country continues to recover from its past economic challenges.

As part of the comprehensive strategy, Greece is set to acquire new submarines, drones, and a communications satellite, all to be integrated into the updated defence framework extending up to 2036. The plan includes the development of an anti-aircraft and anti-drone system dubbed the 'Achilles Shield', designed to augment national security and readiness.

Mitsotakis emphasized the strategic importance of investing in Greece's sovereignty, while balancing fiscal prudence, despite a broader EU trend towards increased defence spending. With Greece already allocating 3% of its GDP to defence—almost double the EU's average—the nation seeks to navigate regional tensions, particularly involving its historic rival Turkey.

(With inputs from agencies.)