November 10, 2025

Athens News

News in English from Greece

Fears of Athens and Nicosia about the new financial mechanism of SAFE (video)


In Greece and Cyprus, questions arose regarding the functioning of the SAFE credit mechanism in the field of defense, in particular, about the possibility of participating in the program of third countries, including the occupying part of Cyprus Türkiye.

In the European Union The SAFE program provides for the provision of loans for military needs for 150 billion euros. Its purpose is to stimulate defense production. The only country abstained during the vote is Hungary.

However, anxiety regarding the new mechanism was expressed in Greece and in Cyprus. Angelos Sirigos, professor of international law, noted, quotes EURONEWS:

“The fact is that such countries as Turkey that have industrial enterprises that bought European plants or participate in their capital, as in the case of Piaggio in Italy, can participate in the program without any problems, because now they have a European brand. They look like European companies, and not as Turkish.”

Greece Minister of Defense Nicos Dandias criticized this mechanism. He fears that some partners EU They will try to use the SAFE tool from the “black move”. Similar fears exist in Nicosia. Lucas Furlas, a deputy of the European Parliament (Cyprus), says:

“It is impossible not to notice the fact that they are trying to include Turkey in the game, which they have long been stated in the European parliament, the European Commission and the Council. It was an attempt to integrate Turkey into the European defense mechanism, a country that occupies the European territory and threatens the countries of the European Union with war. It is like launching a wolf in a shepherd to protect the sheep.”

SAFE is part of the program “Readiness 2030” with a total value of 800 billion euros. The SAFE regulation provides that 65% of the components from the jointly purchased products should come from the EU states, Ukraine, the countries of the European Economic Zone and the European Free Trade Association. All third countries can participate at a maximum of 35%.

Fei Dulgeri, Euronews: “Along with the comments regarding the European initiative, expectations are growing in Athens and Nicosia that Greece and Cyprus will take advantage of the historical opportunity that opens up for the defense industry.”



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