August 19, 2011: In important ascertainment for the impact of the financial crisis on the defense industry of the European Union member-states, proceeds relevant report of the European Parliament. For the Hellenic defense industries, the report distinguishes INTRACOM Defense Electronics, which is considered between the few exceptions that can be competitive in international level. More specifically it has the following laconic, however enough comprehensive and characteristic ascertainment:
“Despite representing only a small part of Greece’s economic activity, the national defence industry is currently being supported by the government to protect jobs. With a few exceptions (e.g. Intracom), the Greek defence industry is not internationally competitive and has only been part of national armaments procurement to a limited extent”.
Source: The Impact of the Financial Crisis on European Defence, study by the European Parliament, 2011