Greece will be able to acquire 7 MH-60R naval helicopters from Sikorsky for $600 million

Greece's solvency does not seem to be perceived in the United States in the same way as in France. Indeed, the FMS (Foreign Military Sales) has just authorized the sale to Athens of 7 MH-60R Seahawk naval helicopters with a large number of equipment and weapons, including 10 APS-i 53 radars, AGM- 114 Hellfire, GAU-21 and M-2400 port guns, more than 1000 sunoboy (droppable sonar buoys), as well as Mark54 light anti-submarine torpedoes, engines and a set of spare parts, for a total amount of $600 million. These rotary wings, intended for the Hellenic Navy, will replace the Bell 212 anti-submarine warfare aircraft in service for more than 30 years. The latter will at the same time rationalize its fleet, already equipped with S-70s.

The United States is already exposed in Greece with the contract for the modernization of 80 F16s to Block70+ standard, for an amount of $1,6 billion. However, this did not prevent them from authorizing this sale, which will probably be matched in one way or another by the Federal State or NATO.

On the other hand, on the French side, arbitrations concerning a possible sale of 2 Belh@rra Frigates to Greece, for an amount estimated between €1,2 and €1,3 billion, still seem blocked on questions of financing and therefore payment guarantees. France remains partly burned by the payment difficulties it encountered with Athens regarding the Mirage 2000s sold in the 90s. But above all, the French authorities, and in particular the Ministry of the Economy, do not integrate into their analysis of the production of social and tax revenues generated in France by this order, so as to partly compensate for the exposure to risk.

With only 16 Aster30 anti-aircraft missiles, the FDI Belharra will be very vulnerable to saturation attacks Defense News | Construction of Military Helicopters | Defense Contracts and Calls for Tenders
The Hellenic Navy wishes to acquire 2 Belh@rra frigates built by Naval Group from France

Thus, the Belh@rra, unlike the Gowind2500, have very low exposure to imports, so that most of their value is actually produced in France by the BITD, and by its subcontracting network. In fact, the €1,2 billion that the contract represents will generate, for the French State, more than €600 million in social revenue, and more than €400 million in tax revenue, within the 3 years surrounding the execution of the contract. CONTRACT. If we were to add the savings made on unemployment benefits, the total effects on the State budget would reach €1,6 billion. But even taking into account only social and tax revenues, the risk exposure would therefore be reduced to only 1300-(600+400) = €300 million for the State if it had to assume the risk of the transaction , or 25% of the contract value, an amount which can easily be covered by the deposit requested in Athens.

It is precisely this reasoning that the United States applies to assess the risk exposure of their arms contracts, and what allows them, moreover, to often accompany these contracts with a contribution reducing the final cost for the client, while making Washington appear like a good Samaritan.

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