Europe Will Be Very Angry When It Learns Greece Is About To Buy Russian Anti-Aircraft Missiles

Just days after Russia lifted sanctions on providing anti-aircraft missiles to Iran [5], Reuters reports [6] that The Greeks are in talks with Russia to purchase missiles for the S-300 defense system. Greece, a NATO member, has been in possession of the advanced Russian-made systems since the late 1990s and in a defiant show of independence towards Troika, is now negotiating with Russia for the purchase of additional missiles and for their maintenance.

[7]

As Reuters reports, [6]

Greece is negotiating with Russia for the purchase of missiles for its S-300 anti-missile systems and for their maintenance, Russia's RIA news agency quoted Greek Defense Minister Panos Kammenos as saying on Wednesday.

 

The report followed a visit by Greek Prime Minister Alexis Tsipras last week to Moscow, where he won pledges of Russian moral support and long-term cooperation but no fresh funds to help avert bankruptcy for his heavily indebted nation.

 

NATO member Greece has been in possession of the Russian-made S-300 air defense systems since the late 1990s.

 

"We are limiting ourselves to replacement of missiles (for the systems)," RIA quoted Kammenos, who is in Moscow for a security conference, as saying.

 

"There are negotiations between Russia and Greece on the maintenance of the systems ... as well as for the purchase of new missiles for the S-300 systems," he said.

 

The Greek defense ministry in Athens later issued a statement quoting Kammenos as saying: "The existing defense cooperation programs will continue. There will be maintenance for the existing programs."

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[8]

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Two questions spring to mind:

1. Where is Greece - which is scratching around for every penny to repay The IMF - going to find the cash to pay for these missiles? We suspect the answer will be a loan from Russia (perhaps for more than the cost) as a roundabout way to provide Tsipras with funds upfront... and

 

2. Will The ECB accept new missiles as collateral? We suspect no...

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Perhaps, given Juncker's call for an EU Army, Greece is deciding it needs to strengthen its defenses from its Union counterparts?