ECONOMY

Greek arms imports fall by over 60 pct

Arms imports by European countries slumped 20 percent in the 2008-2012 period as government austerity measures across the region reduced spending.

Greek imports declined 61 percent, making the country the 15th-largest importer, down from fourth place in the 2003-2007 period, the Stockholm International Peace Research Institute said on Monday.

In 2006-10 Greece was the top recipient of German arms exports, SIPRI said. [Bloomberg]