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Investing.com -- Greece’s Prime Minister, Kyriakos Mitsotakis, announced on Wednesday that the country plans to spend 25 billion euros on a long-term defense plan.
This move is part of Greece’s efforts to modernize its armed forces as it recovers from the 2009-2018 debt crisis and keeps pace with its historic rival, Turkey.
In March, officials familiar with the plan informed that it would continue until 2036. The plan includes the acquisition of new submarines, air, sea, and underwater drones, and a communications satellite.
A portion of the funds will be allocated for the development of an anti-aircraft and anti-drone dome, referred to as the "Achilles Shield."
During the parliamentary session, Mitsotakis stated that this plan signifies Greece’s investment in its sovereignty. He also warned that the country must maintain fiscal prudence, despite the European Union’s intentions to increase defense spending.
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