Israel and Greece sign $3.5B air defense deal
Israel and Greece have finalized a defense agreement worth €3.5 billion (approximately $3.48 billion) to develop a multi-layered missile defense system called the "Achilles Shield." The goal is to enhance Greece's military capabilities to counter missile and air threats. The deal includes supplying Greece with advanced defense systems such as "Dawood's Slingshot," "Spider," and "Barak Mx," along with multi-mission aerial surveillance radars. This move is part of Greece's military modernization program, which allocates about 3.5% of its GDP to defense. Greece plans to spend €28 billion by 2036 on purchasing F-35 fighter jets, frigates, and other systems, while also strengthening cooperation in technology transfer and defense industries.
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