Greece to invest 25 billion euros in defence over next decade

The latest news on Greece. The country is embarking on a historic defence strategy, earmarking 25 billion euros for the modernisation of its military forces, as announced by Prime Minister Kyriakos Mitsotakis in parliament.

The investment, spanning until 2036, is aimed at enhancing Greece's defence capabilities following years of austerity, and addresses growing concerns over its historic rivalry with Turkey, as well as broader regional security dynamics.

The plan includes the procurement of submarines, advanced drones, and the development of an anti-aircraft and anti-drone system, known as the "Achilles Shield," designed to bolster Greece's defence against evolving technological threats.

While Mitsotakis emphasised the importance of safeguarding Greece's sovereignty, he also stressed the need for fiscal discipline amidst broader European Union defence spending initiatives. For now, it remains to be seen how this strategy will unfold.