Tuesday, June 30, 2015

Greece Continues To Beef Up Its Military

Greek soldiers compete in the 7th Annual Warrior Competition at the King Abdullah Special Operations Training Center in Amman April 23, 2015.

Business Insider: Greece's military budget is getting bigger even as the country's economy lurches towards mayhem

Racked by financial woes since 2008, Greece has all but defaulted on its loans after the failure of talks with with the European Union and its various creditors. The country is heading towards a high-stakes referendum next week that could result in the country eventually leaving the Eurozone.

Still, despite Greece's staggering economic problems, the country has consistently maintained one of the highest defense expenditures as a percentage of GDP in all of Europe.

For 2015, NATO projects that Greece will spend 2.4% of its GDP on defense, which is actually a 0.1% increase in spending over 2014. The previous year, the country's debt as percentage of GDP was at 175%, while its economy contracted by 3.3%.

WNU Editor: If everything is about to collapse .... the one institution/group/organization that the government will (definitely and always) spend its money on is .... the military, national police, riot control, security, tear gas, prisons, intelligence, physical security, etc.. For Greece .... no one should be surprised  that its military budget is the only thing that is not being cut .... but in fact being increased.

On a personal note .... when the economy collapsed in Russia in the 1990s .... some of my cousins started a security company that specialized in installing security for homes/commercial businesses/government buildings (i.e. grills, bullet proof glass, reinforced steel doors, commercial iron gates, cameras, etc.). Their business .... after 20 years .... is still booming.

2 comments:

Daniel said...

But what will they do with all that military? Introduce martial law when social order breaks down?

Aizino Smith said...

I could see not cutting the military but to expand it when the country is in such fiscal distress is foolhardy.

One could cut the military by natural attrition for a short while. It has its' drawback as well, but it is probably what they should do.

The Shah fell when the police and military would not fire on demonstrators. If the Greek military does likewise, the ruling power could find itself unemployed.

Every family should have someone in the miltary or someone who has been in. That way there is no division and it is less likely for them to obey illicit orders by wannabe tyrants.