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June 27, 2006
Greece: New Arms-Buying Plan "Staggering"
Ted Laskaris complains that the arms-buying plan is full of corruption and statist favors. But I guess I have lower expectations of the Greek government than he does: I'm just glad they're spending money in preparing for the coming Turkish Jihad: Buy, baby, buy ... and then buy some more....
Press reports say the Karamanlis government is ready to launch the next five-year arms buying plan (2006-2010) worth some EUR 12 billion / repeat / 12 billion. Arms procurement spending out to 2015 is estimated to reach EUR 23 billion (!!) This is staggering amount for Greece's groggy, under-performing, olive oil-and-tourism economy.Just to give you one measure of comparison, revenue from the privatization program under way for the period 2004-2005 reached a paltry EUR 2.8 billion (see Fact Sheet on the Prospects of the Greek Economy - May 2006). Total estimated exports revenue for FY2005 was EUR 18.54 billion. With imports out-pacing exports by an average three times, Greek coffers will again creak and heave under the arms buying burden. And I’m sure that our governors will again find the way to upgrade our arsenal. In one word: borrowing.
I'm also sure that there will be "consensus" across party boundaries on the necessity of purchasing all these armaments. How can it be different? The defense budget now routinely feeds a whole community of reptilians firmly attached to the Ministry of Defense and the private staffs of parliamentarians, former ministers, and various "industrialists," all of whom of course are dedicated to defending our interests and protecting our country - for a handsome, tax-free, Cayman Islands-bound fee[...]
Posted by Ruy Diaz at June 27, 2006 9:21 AM
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