Greece Faces €11.2 Billion Annual Defense Burden Under New NATO Pact
Greece is set to shoulder a significantly higher defense burden under a major new NATO agreement, which is expected to be unveiled at the alliance's summit in The Hague this week. Amid growing security threats from Russia and pressure from figures like Donald Trump for more equitable burden-sharing, NATO's 32 member states are preparing to commit to a substantial increase in defense spending. Under the new pact, each country will be expected to allocate 5% of its Gross Domestic Product to security-related expenditures, including military spending, defense technologies, and cybersecurity. For Greece, this commitment comes with particular weight. The country already devotes one of the highest proportions of GDP to defense among NATO members-3.2% as of 2023. Meeting the new 5% target would require an additional 1.8% of GDP, which, given the current size of the Greek economy, amounts to roughly €11.2 billion per year. This dramatic...
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