NEWS

Kammenos: Defense sector overhaul to cover island VAT shortfall

TAGS: Economy, Diplomacy, Business

A few hours after Germany blocked the disbursement of a 15-billion-euro tranche of funding to Greece due to a decision to extend a value added tax discount to the Aegean islands, Defense Minister Panos Kammenos indicated that part of the funds to offset the 28-million-euro shortfall would come from an overhaul of the defense sector.

In a post on his Twitter account on Friday, Kammenos indicated that the difference would be partly made up from a restructuring of military units, the closure of some disused barracks and cutbacks to old defense procurement programs.

"Our islands are the defense of our nation," he said. 

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