German industry and politicians have attacked a proposed French warship deal with the near-bankrupt Greek government, according to the magazine Spiegel.
State-owned French naval shipyard DCNS is offering to deliver up to four new stealth frigates to the Greek Navy but defer the 300 million euro ($412 million) payments for five years and even allow the Greeks to hand the warships back, the German magazine reported Oct. 17. Under the deal, Greece will have the option of paying up after five years with a 100 million-euro discount, or even returning the warships to be used by the French Navy, the magazine says.
Because a) military equipment doesn’t have any maintenance costs, and b) Greece will be under no pressure whatsoever to pay for those frigates in five years, and c) Greece REALLY REALLY NEEDS stealth frigates right now. Of course, the Germans interest extends beyond concern for the average Bavarian taxpayer:
According to Spiegel, the rival German ThyssenKrupp group, which is also competing for the deal, has complained to the German government that the vessel purchase, in effect, will be co-financed by German taxpayers who are mainly footing the bill for restructuring Greece’s huge national debts.