Recently released market study: Greece Defence & Security Report Q4 2010

New Defense market report from Business Monitor International: "Greece Defence & Security Report Q4 2010"
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* Research

* Massachusetts - US

Oct. 23, 2010 - PRLog -- Protests against the Greek government's austerity measures are continuing and look set to remain a feature of the political landscape for some months, sustaining a moderate but significant level of internal unrest. Truck drivers shut down parts of Greece's two busiest motorways and clashed with police on September 22 as their protests reached their 10th day, as reported by AP. However, the government has stood by the changes, which are part of an intended wave of reforms to end 'closed shop' practices in a number of professions.

Workers at state-owned Hellenic Railways, farm workers and local government employees were also on strike in one week alone, The austerity measures are not only angering those in work, but increasing unemployment and damaging government revenues. Young people - arguably more likely to protest - have been particularly affected. Many experts expect the situation to worsen considerably.

Plans to drive forward with budget cuts and labour reforms therefore seem almost certain to trigger further demonstrations, though whether professionals will be as willing to resort to roughhouse tactics as other groups (including students) have been remains to be seen. Some 4,000 police were deployed in the second city, Thessaloniki, against potential outbreaks of violence, on the second weekend of September, and deployed tear gas on a group of several hundred youths who had broken away from a largely peaceful protest, as reported by Reuters that month. Police are likely to be kept busy for months to come, and the risk of violence - though probably on a low level - will be ever-present.

The government's attempts to tackle economic and social problems are having a direct and indirect effect on the armed forces. While military spending will be scaled back, Defence Minister Evangelos Venizelos has suggested that Greece may extend the military service of conscripts without job prospects on discharge. This could prove a burden on a severely-strapped defence budget and on regular forces needed to train and protect conscripts. In other countries, military service has been axed to lower spending requirements and to reduce the pressure on professional soldiers.

The external situation is characterised by lower risk of conflict with neighbour Turkey, but potential rising risk over the long term from other threats in the Mediterranean Basin and beyond. NATO Secretary General Anders Fogh Rasmussen has urged the deployment of a new European missile defence system to protect the continent from the threat of Iranian attack, to which Greece is seen as particularly vulnerable, as reported by the Daily Telegraph in September 2010. The Islamic Republic's longest-range ballistic missiles, which include the Shahab-3 and Qiam-1, have a range of around 2,500 miles, enabling them to hit targets in Greece and Turkey. While the Islamic Republic is seen as being ever closer to developing military nuclear technology, its leadership would likely be exceptionally wary of deploying it apart from as a desperate measure of self-defence or in the case that an exceptionally hardline and rogue faction seized power in Tehran. The risk to Greece of nuclear attack, while it exists, is therefore at present exceptionally low. Nonetheless, the country's position in the Eastern Mediterranean does make it very strategically important over the long-term.

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Partial Table of Contents:

Executive Summary
SWOT Analysis
- Greek Defence Industry SWOT
- Greece Political SWOT
- Greece Economic SWOT
- Greece Business Environment SWOT
Global Political Outlook
- Global Hotspots
- Table: Election Timetable, H210-2011
- United States: Obama To Be Tested By Mid-Term Elections
- Latin America: Beyond Lula
- Western Europe: All About Austerity
- Central Europe: New Governments To Be Tested
- South-East Europe: Turkey's Ongoing Evolution
- Russia And The Former Soviet Union: Focus On Security
- Middle East: Ongoing Challenges
- Sub-Saharan Africa: The Election Conundrum
- Asia: The Usual Risks Prevail
- Wild Cards To Watch
Central And Eastern Europe Overview
Security Risk Analysis
- Security Risk Ratings
- Table: Europe Security Risk Ratings
- Table: Europe State Terrorism Vulnerability To Terrorism Index
- Greece's Security Risk Rating
- City Terrorism Rating
- Table: BMI's Western Europe City Terrorism Index
Political Overview
- Domestic Politics
Security Overview
- Internal Security Situation
- Table: Insurgent Groups In Greece
- Domestic Terrorism
- Corruption
- Organised Crime
- Timeline: Internal Threats
- External Security Situation
- International Terrorism
- Timeline: External Threats
Armed Forces And Government Spending
- Armed Forces
- Table: Regional Armed Forces, 2007 ('000, including conscripted)
- Defence Reforms
- International Deployments
- Table: Foreign Deployments
- Coordination And Joint Operations
Market Overview
- Latest Developments
- Arms Trade Overview
- Industry Trends And Developments
- Table: Key Players In The Greek Defence Industry
- Defence Industry Timeline
Industry Forecast Scenario
- Armed Forces
- Table: Greece's Armed Forces, 2007-2014 ('000 personnel)
- Government Defence Expenditure
- Table: Greece's Government Defence Expenditure, (2007-2014)
- Macroeconomic Outlook
- Table: Greece - Economic Activity, 2007-2014
Company Profiles
- Hellenic Defence Systems
- Intracom Defense Electronics
BMI Methodology
- How We Generate Our Industry Forecasts
- Defence Industry
- City Terrorism Rating

Full Table of Contents is available at:

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Business Monitor International (BMI) offers a comprehensive range of products and services designed to help senior executives, analysts and researchers assess and better manage operating risks, and exploit business opportunities, across 175 markets.  BMI offers three main areas of expertise: Country Risk BMI's country risk and macroeconomic forecast portfolio includes weekly financial market reports, monthly regional Monitors, and in-depth quarterly Business Forecast Reports.  Industry Analysis BMI covers a total of 17 industry verticals through a portfolio of services, including in-depth quarterly Country Forecast Reports.  View more research from Business Monitor International at

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Fast Market Research is an online aggregator and distributor of market research and business information. We represent the world's top research publishers and analysts and provide quick and easy access to the best competitive intelligence available.
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