Greece's defense minister on Thursday promised "colossal" cuts in military operating costs to help the debt-ridden country emerge from its financial crisis and speed up plans to modernize the armed forces.
Defense Minister Evangelos Venizelos Greece is aiming to slash operating costs by up to 25 percent in 2010 from 2009, instead of the planned reduction of 12.6 percent listed in this year's budget.
"That is a colossal amount, reaching the margin of our operating needs," Venizelos said, insisting that the cuts were not a direct result of the Greek debt crisis and that they would not affect the strategic balance with historic rival …
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