21 C
New York
Tuesday, June 22, 2021

Greece to bolster defence sector as eastern Mediterranean tensions rise

Must read

XRP Falls 13% In Rout

Cryptocurrency4 minutes ago (Jun 22, 2021 12:39PM ET) XRP Falls 13% In Rout Investing.com - XRP was trading at $0.57073 by 12:37 (16:37 GMT) on the...

Biden’s Justice Dept may defend Trump in Capitol riot lawsuits

(C) Reuters. FILE PHOTO: An explosion caused by a police munition is seen while supporters of U.S. President Donald Trump gather in front of...

Record-high U.S. house prices, tight supply hold back sales

(C) Reuters. FILE PHOTO: A 'for sale' is seen outside a single family house in Garden City, New York, U.S. on May 23, 2016....

4 Inflation-Resistant Stocks to Buy This Summer

Stock Markets12 minutes ago (Jun 22, 2021 12:30PM ET) (C) Reuters. 4 Inflation-Resistant Stocks to Buy This Summer Rising inflation due to the fast-paced economic recovery...
imageWorld7 minutes ago (Sep 07, 2020 02:35PM ET)

2/2

(C) Reuters. FILE PHOTO: A woman looks through binoculars as Greek and French vessels sail in formation during a joint military exercise in Mediterranean sea, in this undated handout image

2/2

ATHENS (Reuters) – Greece plans to acquire arms, boost its armed forces and revamp its defence industry, the government’s spokesman said on Monday, as tensions with NATO ally Turkey over energy resources in the eastern Mediterranean grow.

Greece, which emerged from its third international bailout in 2018 and has been struggling with the economic impact of the coronavirus crisis, wants to spend part of its multi-billion euro cash reserves on its defence sector.

“We are in talks with allies to boost our armed forces,” government spokesman Stelios Petsas told reporters, adding that Prime Minister Kyriakos Mitsotakis will outline his plans during an annual economic policy speech on Saturday.

A Greek government official told Reuters last week that Greece is in talks with France and other countries over the acquisition of fighter jets. Greece has also been trying for more than a decade to consolidate and privatise its loss-making defence companies.

Mitsotakis will meet French President Emmanuel Macron in Corsica on Thursday, before a Southern European leaders summit (MED7) on the French island of Corsica. The two leaders are expected to discuss the European Union’s strained relationship with Turkey, Macron’s office said.

Petas said that cooperation in the defence sector between the two countries will also be on the agenda.

Turkey and Greece have long disagreed over the extent of their continental shelves. Tensions rose last month after Ankara sent an exploration vessel into disputed waters, accompanied by warships, days after Greece signed a maritime deal with Egypt.

Ankara has since been extending the vessel’s work in the wider region, issuing advisories which Athens calls illegal.

The Greek conservative leader discussed the latest twists in the row with European Council President Charles Michel, who chairs summits of EU leaders, during a phone call on Monday.

Michel will visit Athens on Sept. 15, Petsas said.

Greece to bolster defence sector as eastern Mediterranean tensions rise

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

- Advertisement -

Latest article

XRP Falls 13% In Rout

Cryptocurrency4 minutes ago (Jun 22, 2021 12:39PM ET) XRP Falls 13% In Rout Investing.com - XRP was trading at $0.57073 by 12:37 (16:37 GMT) on the...

Biden’s Justice Dept may defend Trump in Capitol riot lawsuits

(C) Reuters. FILE PHOTO: An explosion caused by a police munition is seen while supporters of U.S. President Donald Trump gather in front of...

Record-high U.S. house prices, tight supply hold back sales

(C) Reuters. FILE PHOTO: A 'for sale' is seen outside a single family house in Garden City, New York, U.S. on May 23, 2016....

4 Inflation-Resistant Stocks to Buy This Summer

Stock Markets12 minutes ago (Jun 22, 2021 12:30PM ET) (C) Reuters. 4 Inflation-Resistant Stocks to Buy This Summer Rising inflation due to the fast-paced economic recovery...

Silver Fundamentals Remain Strong Despite Fed’s Hawkish Pivot

Stock Markets12 minutes ago (Jun 22, 2021 12:30PM ET) (C) Reuters. Silver Fundamentals Remain Strong Despite Fed's Hawkish Pivot Silver (SLV) is down for the...