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Free AccessGREECE: Athens To Buy Frigates In Deal To Boost EU 'Strategic Autonomy'
The governments of France and Greece have signed a deal in Athens for French firms to provide the Greek armed forces with at least three frigates. The deal comes in the wake of the cancellation of the Franco-Australian submarine deal and the creation of the AUKUS alliance that cause significant opprobrium in Paris.
- French President Emmanuel Macron has stated his desire for the EU to be able to act with more 'strategic autonomy', separate from the foreign policy aims and intentions of the United States.
- Greece is one of the few EU and NATO members that spends more than 2% of its GDP on defence, and as such is likely to provide a reliable partner to the French in the region.
- Providing the Hellenic Navy with three frigates risks a further deterioration in Franco-Turkish relations, already in a notably poor state. Turkey continues to shift further and further away from its NATO partners, and this Franco-Greek deal will do little to reverse this trend.
To read the full story
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.