MOBILE DEVICES
Free Headline Alerts     
Worldwide Web WorldTribune.com

  breaking... 


Monday, May 3, 2010     GET REAL

Greece plans 25 percent cut in defense budget

ATHENS — Greece has pledged deep cuts in its defense budget.

ShareThis

Officials said the Athens government has agreed to slash the defense budget over the next year. They said the cut was required amid Greece's financial crisis and austerity program.

"There will be a review over the next several weeks," Greek Defense Minister Evangelos Venizelos said.


Also In This Edition


In remarks on April 29, Venizelos said the defense budget cuts would not harm Greek security. He said the proposed 25 percent reduction in 2010 would not affect the military balance between Greece and its rival and neighbor Turkey.

"That is a colossal amount, reaching the margin of our operating needs," Venizelos said.

Venizelos said the the new cut was double of that stipulated in the original budget for this year. He said the reduction would not affect Greece's project to modernize the military, which he said would include a procurement budget of 2.3 billion euro.

Officials said the Defense Ministry and military would conduct a strategic review in June 2010. They said Athens plans to discuss the Greek defense cut with Turkey.

We are reducing operating costs," Venizelos said. "We are not doing this because of economic pressure. We are doing this because this is mandated by the modern views of military planning."

Turkish Prime Minister Recep Erdogan plans to visit Athens in May. Ankara has already ruled out a significant defense budget cut amid its longtime border dispute with Greece.



About Us     l    Contact Us     l    Geostrategy-Direct.com     l    East-Asia-Intel.com
Copyright © 2010    East West Services, Inc.    All rights reserved.