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Monday, May 19, 2014

Greek Defence Corruption

HS PapanikolisIn 1996, Greece was involved in a skirmish with Turkey over a set of islets. With their Defence Ministry awoken to the ‘potential need’ for better resources when faced with a foe, Greece commenced a wide-ranging purchasing spree for its defence and security efforts.

Manufacturers and service providers from the sector across the world all wanted a slice of the potential sales, often made to the Greek officials who were rapidly grabbing at purchases, without fully rationalizing them.

What began as a natural human reaction to what was a more recent security threat quickly spun out of control, as different industry actors quietly courted Greek officials with millions of Euros, and foreign accounts were set up in an attempt to hide the bribes.

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