Although the country already spends 3% of its GDP on the military, it plans to spend a further €25 billion to modernize. The move comes as Greece emerges from more than a decade of austerity.
Greek Prime Minister Kyriakos Mitsotakis announced on Wednesday that the government will spend some €25 billion euros ($27 billion) on its military through 2036.
Mitotakis on defense boost: ‘The world is changing’
Mitsotakis called it the “most drastic” defense “transformation” in Greece’s modern history. Some of the new equipment will include anti-aircraft defense, drones, and satellites
“The world is changing at an unforeseeable pace,” he said.
The announcement came amid US pressure for NATO allies to spend more on defense, and part of a push to moderize outdated infrastructure and equipment that languished under austerity during the country’s 2008-2017 financial crisis.
Greece ramping up spending amid Trump pressure
Although Greece already spends 3% of its GDP on defense, in line with NATO rules, US President Donald Trump has becoming increasingly impatient with allies who do not prioritize their militaries.
As Trump was poised to announce sweeping tariffs later on Wednesday, Mitsotakis warned that they could majorly destabilize the world economy.
Edited by: Wesley Dockery
DW News
