GREECE: Why would it be missed by the Eurozone?

Quantifying the shocking truth behind Franco-German moralising

We already know that Greece borrowed most of its debt from the ECB and American banks. We also know that US banking firm Goldman Sachs held a seminar in Greece during 2006 aimed at ‘teaching’ the then Athens Government how to lie to Brussels about the size of its borrowings.

There now follows a Q&A about other aspects of Greek debt.

Question: Who is the third biggest arms importer in the world, behind India and China?

Answer: Greece

Question: If Greece had spent the EU average on defence over the past 10 years (1.7% of GDP
rather than spending 4% of GDP on defence, how much money would it have saved?

Answer: 52% of GDP, or 150billion euros

So why are France and Germany not demanding that Greece cuts its defence spending?

Question: In the period 2006-2010 which country was Germany’s largest market for munitions?

Answer: Greece, which accounted for 15% of total German arms sales.

Question: In the same period, what country was France’s largest arms export market in Europe (third
largest overall)?

Answer: Greece

Question: In 2010 (last year data is available) social spending in Greece was cut by 1.8bn Euros.
How much did military spending change? Was it…

a) Decreased by Euro 900 million
b) No change
c) Increased by Euro 900million

Answer: C

Yesterday, Greece’s central bank governor said his country would have to leave the eurozone if politicians do not stick to the austerity programme after the elections due to take place on 6 May.

“What is at stake is the choice between an orderly, albeit painstaking, effort to reconstruct the economy within the euro area, with the support of our partners, or a disorderly economic and social regression, taking the country several decades back, and eventually driving it out of the euro area and the European Union,” George Provopoulos told the media.

On March 23rd this year, Greece signed up to a second, €130 billion loan paid mainly by other eurozone countries to reduce the country’s debt and recapitalise its banks, along with a major debt restructuring agreed with private lenders. Had it not bought all those arms from France and Germany, of course, Greece wouldn’t have a problem at all.

Conclusion: The other 25 eurozone States are all paying for the Franco-German arms industry.

45 thoughts on “GREECE: Why would it be missed by the Eurozone?

  1. e-x-a-c-t-l-y !!!
    Soon, Greece will find out another bitter truth ! : The Turkish threat was for real and not just a matter of arms sales manipulation by the Great Powers !

    June 15 is approaching and incredibly enough, once again in world history EVERYTHING is going to be like never before…due to this attack on Greece !!


  2. Yup… that’s pretty much it. European taxes are funneled through arms and interest payments back to France and Germany.


  3. You maths is unclear: (4%-1.7%)*10 years = 23%,
    which is not the 52% you claim.
    Was there a compounded interest in order to double the figure then?

    Greece is the critical bastion of the entire west n that region,
    thus should have been subsidized like Israel has been.

    At least, Greece should have demanded to offset imports for exports,
    including knowledge transfer, like India demands and receives.


  4. Pingback: Well spent | Klein Verzet

  5. Pingback: Well spent | Klein Verzet

  6. I just hope the Greek people can get their hands on some of that military
    hardware and use it on the politicians who’ve betrayed them.


  7. The Turkish Armed Forces is the second largest standing armed force in NATO, after the U.S. Armed Forces… and they still insisit Greece and Cypress belong to them… as little as 3 months ago they threatened to annex the rest of Cypress if oil is found there.


  8. If I were living in a small Christian country next door to an increasingly bumptious Muslim Turkey, which has declared itself to be “the Motherland” of all Balkan Muslims, I would want my government to have adequate amaments to deterl an attack like that on Cyprus in 1974.


  9. Excellent one hour documentary here, with Greek subtitles so I caim it’s not off topic.

    I recommend it to all who wonder how we got into this mess.
    John Nash’s Game Theory figures large in it. Poor Mr Nash was suffering dreadful mental illness when he came up with this. Perhaps this explains why the world seems mad.


  10. Hehe… last march 25th (Greek independence day… from the Turks)… Turkey showed it’s respect for our freedom by having one of their warships take a slow cruise through our waters… this kind of crap happens ALL the time, we have given up on Nato or any of the great powers protecting us…


  11. Greece should leave the Euro while there is still something of the Greek economy to save, and before the Euro implodes. And the Greek people should hang a few of their politicians – they can start with the Papandreau clan.


  12. Meanwhile 36 political parties are applying to enter this Greek election , varying from the 2 main corrupt incompetent parties that ruin Greece to 10 different communist parties ( proLenin proTrotsky proMarx or anything your communist heart might desire ) to “I dont pay party” and “kill the tyrants party”. Did anyone complain that life doesn’t give us choices ?


  13. Your claims are startling, and I should like to quote them to my – euro fan – sister, but in view of what you write, I should like to feel on the firmest ground possible and be in a position to quite chapter and verse, so could you publish links to primary sources?


  14. Pingback: John Ward – Greece : Why Would It Be Missed By The Eurozone? – 25 April 2012 | Lucas 2012 Infos

  15. Not been able to find reliable figures, but last year from what I can glean the UK sold Greece no armaments. Previously it was modest: most arms were supplied by the USA, Germany and France. Which, of course, begs a question: why weren’t UK manufacturers doing more selling in Greece ?


  16. I can’t help feeling Greece is the world in microcosm. Military spending is a record worldwide highs – spending not driven by legitimate defence concerns, but by a greedy military-industrial complex. For example, the US is spending 300 billion dollars on the JSF fighter jet. Just one military programme is costing them a sum about the same as the GDP of Austria. Are these aircraft useful in the wars the US is fighting today? No. Will they ever be used against a similarly well-armed enemy? Doubtful. Is the project over budget? Yes.

    This is a scam – yet another way to transfer taxpayer’s money into the pockets of greedy multinationals. The West is buying weapons it doesn’t need with money it doesn’t have – I hope it ends as soon as possible.


  17. This is astounding, and whilst I can see that Greece is in a very vulnerable position in so many ways,to be the third largest buyer of arms is unbelievable, and it makes a complete mockery of the whole bailout kerfuffle, to the point that I can hardly believe it is true.


  18. They will be used.
    War is always a good way to repudiate debt via
    hyper inflation.
    Wonderfull profit center for TPTB at the same time.


  19. As a Kiwi about to return to UK and Europe for the summer, I must say it is now not without some apprehension, in light of JW writings. While NZ is not without it’s own problems, inept govternormet, rising unemployment, rising cost of living, but that said, NZ is fortunate to be a gross exporter of land based produce, but the problem may be will we be paid fair value for these products as this spiral of events gains momentum to the imminent depression.


  20. The “play” is Geopolitical and not Fiscal .

    THEY looking for a Fiscal RESET ,for sure downwards since THEY spreading the Problem all over.

    Hellas , if they are successful here , they will conclude the right mixture of “terror” .

    I wish a good viewing to all of us.


  21. John, Nice article but theres only 17 countries signed up to the Euro.
    Spyros, I weep for you and yours. Stay strong.


  22. Pingback: EUROBLOWN: GREECE EXCLUSIVE – SECRET POLL REVEALS PASOK, ND COLLAPSE | A diary of deception and distortion

  23. Pingback: John Ward – Euroblown : Greece Exclusive – Secret Poll Reveals Pasok, ND Collapse – 28 April 2012 | Lucas 2012 Infos

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