Greece expanding their defence expenditure
News with some stocks
I've read the Bloomberg article about Greece's defense spending plans. Here's a summary of the key points:
Greece's New Defense Plan
Greece has announced a €25 billion ($27 billion) defense spending plan over the next 12 years. This represents the first long-term defense strategy of its kind for the country.
Key Elements:
€25 billion allocated for defense equipment
Up to 20% increase in wages for armed forces personnel
Integration of new defense technologies (drones, anti-drone systems, AI, cybersecurity)
Strengthening Greece's domestic defense industry
Context:
Greece has historically maintained high defense spending (exceeding NATO's 2% GDP target)
Primary motivation is the longstanding rivalry with neighboring Turkey
Recent acquisitions include 24 Rafale fighter jets from France and orders for up to 40 F-35 strike fighters from the US
Greece employs about 1% of its population in armed forces (compared to 0.6% in Turkey, 0.4% in US, 0.2% in Germany)
This plan comes amid broader European efforts to increase military spending due to Russia's actions in Ukraine and perceived US security pullback
Prime Minister Kyriakos Mitsotakis described the spending as "investments in our sovereignty" and noted that while "Greece may be small in size, its geopolitical importance is large."
International defense companies with drone and AI capabilities
Regarding international defense companies with drone and AI capabilities that potentially do business with NATO countries, I can provide some general information.
Several major defense contractors have significant drone and AI defense technology portfolios:
For drone technology:
General Atomics (private company - makes Predator and Reaper drones)
Northrop Grumman (NYSE: NOC)
Lockheed Martin (NYSE: LMT)
Boeing (NYSE: BA)
BAE Systems (LON: BA)
Thales Group (Euronext Paris: HO)
Leonardo (BIT: LDO)
Elbit Systems (NASDAQ: ESLT) - an Israeli company mentioned as potentially relevant given the article noted Greece's recent meetings with Israeli defense officials
IAI (Israel Aerospace Industries) - state-owned company
For AI and cybersecurity defense applications:
Palantir Technologies (NYSE: PLTR)
Leidos (NYSE: LDOS)
Booz Allen Hamilton (NYSE: BAH)
CACI International (NYSE: CACI)
Raytheon Technologies (NYSE: RTX)
European defense companies that might be positioned to benefit from increased European defense spending:
Rheinmetall (ETR: RHM)
Saab AB (STO: SAAB-B)
Dassault Aviation (Euronext Paris: AM) - maker of the Rafale jets that Greece already purchased
Remember that defense contracts often take significant time to materialize, and the article indicates this is a 12-year spending plan. The actual winners of specific contracts may not be determined for some time.
RTX
It has been over the 200 MA since the beginning of 2024, moving from 88 to 133.33
Tariffs
Today is happning: https://www.cnbc.com/2025/04/02/trump-tariffs-live-updates.html
ESLT
Look at it fantastic price action, unfortunately here I feel I am too late.
