Arms Sales, Debt and Corruption
A recent report entitled Guns, Debt and Corruption: Military Spending and the EU Crisis, authored by Frank Slijper, hones in on one sector where [...] corruption is endemic.
Greece has long had the highest levels of military spending in the EU and Germany has been one of its leading suppliers of military equipment. In 2011, two former managers of the German firm Ferrostaal were convicted in Germany of paying €62 million in bribes in connection with the export of submarines to Portugal and Greece, and Ferrostaal itself was fined €140 million. The former Greek Defence Minister, Akis Tsochzopoulos, along with several others, faces trial in Greece for taking kickbacks on defence contracts, including an alleged €8 million from Ferrostaal.