Greece will submit a proposal on Tuesday to join the European Union’s new SAFE financing mechanism, seeking at least €1.2 billion in low-interest loans to strengthen national defense and support its defense industry, Prime Minister Kyriakos Mitsotakis said on Monday.
SAFE – the first component of the EU’s proposed €800 billion ReArm plan – aims to boost the bloc’s collective defense capabilities amid rising geopolitical tensions.
“Defense and security of the homeland is a national priority,” Mitsotakis said in a statement. “This is why our government continues to enhance the deterrent strength and operational capacity of the Armed Forces with planning, seriousness, and strategic responsibility.”
The prime minister said Greece intends to make full use of available EU funding tools, including mechanisms that provide fiscal flexibility for defense spending.
He stressed that the new resources would support Greece’s 12-year defense armaments program, which includes upgrading equipment and expanding domestic defense production.
“Our inclusion in SAFE reinforces an already dynamic plan within the framework of the Long-Term Defence Armaments Programme (LTDP), which had already been set at 28.8 billion euros and is now increasing to 30 billion euros for the period 2025-2036. The expansion of the armaments programme strengthens the Greek defence and technology industry, creates significant opportunities for investment, productive partnerships, and new jobs, increases domestic added value, and leads to greater national autonomy” the PM underlined.
He added that the new resources would support Greece’s 12-year defense armaments program, which includes upgrading equipment and expanding domestic defense production.
“Greece actively contributes to shaping European defense and security policy,” Mitsotakis said, renewing his call for the creation of a European investment fund dedicated to critical strategic infrastructure, including a unified European missile defense system.
And no doubt 99% of it will be wasted buying weapons form the USA. Europe needs its own defense industry, the USA is probably less reliable as an ally than China!. There needs to be a total ban on imports of weapons systems from the USA. Who will get proiority whenspares and weapons arewanted? countries who kiss Donal Trumps backside or countries fighting aggressive invasions by foreign countries? The answer will be whoever buys Donald Duck the biggest present, a new plane or a golf course or some beachfront real estate in Palestine!