Greek Defense Minister Nikos Dendias on Tuesday reportedly briefed members of a standing Parliament committee on defense that the country is interested in participating in the EU’s ReArm Europe initiative, but not in the accompanying Security Action for Europe (SAFE) financial instrument.
Dendias, according to reports, said Athens was not interested in the 150-billion-euro SAFE instrument designed to facilitate – via low-cost borrowing – member-states’ investments in defense industrial production.
Without the SAFE component, the ReArm initiative is billed at worth 650 billion euros to boost defense spending and capability based on national resources, which however, will be subject to “fiscal flexibility”, possible subsidies, along with measures to facilitate collaboration, efficiency and innovation.
He also briefed MPs on a decision to order a fourth Belharra frigate from Naval Group and the involvement of local defense contractors and shipyards in the construction of the warship.
