Well spent

From John Ward: GREECE: Why would it be missed by the Eurozone?

Question: If Greece had spent the EU average on defence over the past 10 years (1.7% of GDP rather than spending 4% of GDP on defence, how much money would it have saved?

Answer: 52% of GDP, or 150billion euros (…)

Question: In the period 2006-2010 which country was Germany’s largest market for munitions?

Answer: Greece, which accounted for 15% of total German arms sales.

Question: In the same period, what country was France’s largest arms export market in Europe (third
largest overall)?

Answer: Greece. (…)

On March 23rd this year, Greece signed up to a second, €130 billion loan paid mainly by other eurozone countries to reduce the country’s debt and recapitalise its banks, along with a major debt restructuring agreed with private lenders. Had it not bought all those arms from France and Germany, of course, Greece wouldn’t have a problem at all.

Conclusion: The other 25 eurozone States are all paying for the Franco-German arms industry.

Money well-spent, you’ll all agree.

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2 Responses to Well spent

  1. Edward says:

    If I were living in a small Christian country next to an increasingly bumptious, much larger, Muslim Turkey, I would want my government to be well enough armed to deter an attack like that on Northern Cyprus in 1974. Turkey is now following a very “forward” diplomatic policy and has proclaimed itself to be the “Motherland” of all Balkan Muslims.

  2. Klein Verzet says:

    Well yes, I can’t exactly blame the Greeks. But you will have to agree it is a cynical use of bailout money.

    What was supposed, what was promised to help the Greek people cope with the shambles their shitty government left behind, is evidently used to help German and French companies earn a healthy profit.

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