Greece plans to invest €25 billion in a sweeping multi-year defence strategy, Prime Minister Kyriakos Mitsotakis told parliament on Wednesday, marking a major step in modernising the country’s armed forces and reinforcing its strategic posture amid regional tensions and global uncertainty.
Greek Prime Minister Kyriakos Mitsotakis announced on Wednesday that the country plans to invest €25 billion ($26.99 billion) as part of a multi-year defence strategy aimed at modernising its armed forces and reinforcing national sovereignty.
Speaking to parliament, Mitsotakis emphasized that the investment marks a new era for Greece as it continues to recover from the severe economic crisis of 2009–2018 and seeks to maintain strategic parity with long-time rival Turkey.
According to officials familiar with the plan, the defence initiative will run through 2036 and includes major procurement and development projects such as new submarines, air and naval drones, underwater surveillance systems, and a national communications satellite. A key component of the plan is the creation of an integrated air- and drone-defence system known as the "Achilles Shield."
Mitsotakis stressed that while defence spending is a vital investment in Greece’s sovereignty, fiscal responsibility must remain a priority—especially as the European Union weighs increasing its own military spending amid global instability.
Greece, a member of both the EU and NATO, already allocates around 3% of its GDP to defence—nearly double the EU average. The commitment comes as the bloc faces mounting pressure to strengthen its security posture amid concerns over the reliability of its longstanding alliance with the United States.
The prime minister also addressed rising global economic tensions, warning that sweeping reciprocal tariffs—expected to be announced by U.S. President Donald Trump—could pose significant challenges for Europe’s economic relations and overall stability.
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The European Commission has put forward a proposal allowing carbon credits purchased from developing countries to be counted towards the EU’s 2040 climate target for the first time. The move, announced on Wednesday, has drawn criticism from campaigners and some scientists.
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The United States has rescinded licensing restrictions on ethane exports to China, allowing shipments to resume after a temporary halt and signalling progress in efforts to ease recent trade tensions.
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