Greece: Bloated military and economic collapse

[Some may suggest that Greece pay back its creditors in rusty tanks and leaky submarines–not Euros. — Frontlines ed.]
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February 21, 2012

Sell Them Tanks, Then Call Them Profligate

Germans, French Were Keen to Sell Arms to Greece

by PATRICK COCKBURN, writing for Counterpunch

Athens — As Greeks waited for a second eurozone rescue package to finally be agreed in Brussels today, many were blaming Germany and France for encouraging and benefiting from some of the much-criticized profligate spending that reduced Greece to near bankruptcy.

About 1000 protesters gathered in front of the Greek Parliament in central Athens yesterday, while riot police waited to see if there would be a fresh confrontation. But, in general, Greeks are resigned to the new package of austerity measures which will cut jobs in public service and slash pensions and the minimum wage.

Hopes are high that the eurozone ministers’ meeting today will agree to the €130 billion bailout after Athens detailed the new budget cuts.

While most Greeks are critical of the reforms on which the troika of the EU, International Monetary Fund and European Central Bank are insisting, many also feel that Germany and France share some of the blame for Greece’s overspending.

Over much of the past decade, Greece – which has a population of 11 million – has been one of the top five arms importers in the world. Continue reading