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Thursday, March 22, 2012

Greece's austerity doesn't extend to its arms budget

[Hydra class]In the wake of the private sector debt swap agreed last week, European leaders have continued to call for major structural reforms to Greece's economy and society.

The current EU-IMF bailout remains conditional on further austerity measures, including reducing pensions, the minimum-wage and civil service jobs.

However, one area of the Greek budget doesn't seem to have received much scrutiny: its huge military spending.

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