Tuesday, October 18, 2011

French sales of warships to Greece, upsets the Germans

Der Spiegel carries the report of yet more unbelievable arms spending by the supposed bankrupt and maxed out Greek nation, read here:

A huge arms deal is threatening to put French-German relations under strain. According to information obtained by SPIEGEL, France wants to deliver two to four new frigates to the Greek navy and to allow the highly indebted nation to postpone payment of the €300 million ($412 million) purchase price per ship for the next five years.
Under the deal, Greece will have the option of paying up after five years, with a significant discount of €100 million, or returning them to the French navy. The "stealth" frigates are designed to avoid detection by enemy radar and are built by state-owned French defense company DCNS.

In a letter to the German government, an executive from the ThyssenKrupp group complained that the vessel purchase will in effect be co-financed by German taxpayers because Greece, reliant on aid from the European Union and International Monetary Fund, may have to restructure its debts.

Well, well, well, there we were we believing, that it was only the rescue of the entire Euro Group, that these two countries had fallen out over, although admittedly impacting the entire world economy at the same time!



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