>3 Ex-Ministers May Face Charges Over Papanikolis Deal

>When on 22 December 2010, HS Papanikolis, first Type 214 submarine of Greek Navy, finally entered into active service, after a unique and long history of procurement, I thought the drama surrounding these submarines was eventually over.

The Greek daily Ekathimerini proved that I was wrong. The Financial and Economic Crime Unit (S.D.O.E) of the Greek Ministry of Finance has conducted an investigation about the prorucement of 4 type U-214 submarines from Germany. The SDOE recomends that three former ministers as well as severel public officials should face prosecution.

SDOE is due to deliver its findings to the Athens Prosecutor’s Office this coming week and Greek judicial authorities will then make a request to German authorities for details of the financial transactions involved in the purchase of the submarines.SDOE will also ask for the bank accounts of all those alleged to be involved to be frozen.

It has been claimed that Ferrostaal, a subsidiary of the MAN Group until 2009, which was part of the consortium that won the contract in 2000 to supply the submarines, paid 10 to 12 million euros to secure the deal for the first of these vessels.The agreement for the four submarines was worth 1.26 billion euros.

This acquisition project is a true Greek tragedy.

Hat tip: Kobus.

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