© GettyAfter EU demands for greater austerity, as Greece debt has deepened despite multi-billion bailouts, Greek social spending has been cut by nine per cent while military budgets have risen, by as much as 18 per cent
New official figures show that bailouts and an EU austerity programme aimed at reducing Greek living standards by 30 per cent have not dented lucrative arms sales to Greece.
In 2010, as Greece was plunged into crisis and the EU began a scheduled £200 billion in aid payments, European countries continued to sell aircraft, tanks, artillery and submarines to the Greek military.
In the same year, France concluded a £662 million military aircraft deal with Greece, a lucrative deal for the French arms industry that will be underwritten by EU bail-out funds.
Official German trade figures showed that in 2010 Germany, which has demanded draconian cuts to Greek social welfare spending, sold weaponry, including a submarine, worth £336 million to the impoverished southern Mediterranean country.
In October 2011, as the EU negotiated a second bail-out for Greece, Angela Merkel, the German Chancellor and Nicolas Sarkozy, the French President told the Greek government that all existing arms contracts must be honoured.
