The negotiations for the restructure of defense industries EAS and ELVO have seemingly reached a standstill, as indicated by the cancellation of a teleconference originally scheduled for next week.
Instead the Minister of Finances Yannis Stournaras and Deputy Minister of National Defense Fofi Gennimata have arranged to meet and work together on a solution for what is turning out to be one of the “hardest” prior actions necessary to collect the 1-billion-euro loan installment that was approved in July 2013.
The Ministry of National Defense rejected the troika proposal to simply shut down the industries and claimed that a solution must be found quickly, so as to safeguard a backlog of EAS orders towards the USA and Morocco worth 250 million euros.
Instead, the Ministry has proposed a down-sizing of the defense industries, by separating the military and civil projects, in an effort to preserve the self-sufficiency of the Greek armed forces.
