News Summary

Author: John T Psaropoulos
Published on: 03/04/2025 | 00:00:00

AI Summary:
Greece announced a 25bn-euro ($27bn) multi-year rearmament programme on Wednesday. The centrepiece of the programme was a multi-layered defence system called the Shield of Achilles. It was Greece’s first multi--year, comprehensive rearmment, and was part of a broader overhaul of the armed forces called Agenda 2030. Brussels could raise money more cheaply than most individual member states. The EU issued its first mutualised debt during the COVID-19 pandemic in 2020. Its 150bn-euro ($165bn) rearmament fund, called Security Action for Europe (SAFE) is made of money left over in that fund. From bankruptcy to European autonomy Greece has traditionally bought mostly US weapons. All 24 Rafales were delivered in record time. The Belharra carry French-made weapons and radar from MBDA, Thales and Dassault. They include the Aster-30 hypersonic, surface-to-air missiles, MU90 torpedoes and the latest 200km-range (124-mile) Exocet antiship missiles. Greece penned a $1.3bn deal with Lockheed Martin to upgrade 85 of its F-16 fighter jets to Viper level. Last year it ordered 20 fifth-generation F-35 planes and wants Greek companies to co-develop next-generation US Constellation frigate.

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