Greece has announced a sweeping 25 billion euros defense program spanning 12 years, a move that underscores the country’s long-standing commitment to military readiness, according to a Bloomberg report, on Wednesday, April 2.
As nations across Europe ramp up defense spending in response to Russia’s continued aggression in Ukraine and the perceived decline of U.S. security presence on the continent, Greece’s new initiative aims to bolster its strategic capabilities, the report notes.
“Our investments in defense capabilities are investments in our sovereignty,” Greek Prime Minister Kyriakos Mitsotakis stated, emphasizing the significance of the plan.
Unlike many of its EU counterparts, Greece has a well-established history of prioritizing defense expenditures. The report highlights that Greece has consistently been one of NATO’s top spenders on defense as a percentage of GDP, regularly exceeding the alliance’s 2% target—even at the height of its sovereign debt crisis.
A major factor behind this sustained military investment is Greece’s long-standing rivalry with neighboring Turkey. This geopolitical tension has compelled both nations to maintain strong deterrence capabilities.
Over the past five years, Greece has significantly upgraded its arsenal, acquiring 24 Rafale fighter jets and frigates from France, as well as placing orders for up to 40 F-35 strike fighters from the United States.
The newly announced 12-year strategy provides a clear financial framework for future military enhancements. “The defense minister knows he has 25 billion euros at his disposal for the duration of the program,” Mitsotakis said, adding that the minister must now establish priorities and make crucial decisions on acquisitions and strategic investments.
