France and Greece are set to renew their defence agreement next week, as European countries seek to further strengthen their deterrence capabilities, Bloomberg reports.

The two countries plan to renew the defence deal — originally signed in 2021 — for another five years, according to people familiar with the matter who requested anonymity, as details have not yet been finalised.

Macron’s visit to Athens and new agreements
French President Emmanuel Macron will visit Athens next week, following a European Union leaders’ summit in Cyprus. Macron will meet Greek Prime Minister Kyriakos Mitsotakis to formalise the renewal of the defence agreement, while the two sides are also expected to sign agreements to further strengthen cooperation in areas such as foreign policy, civil protection and the economy, according to one of the sources.

Growing importance of defence in Europe
The issue of strengthening defence capabilities has become far more critical since Greece and France signed their first agreement five years ago. Russia’s invasion of Ukraine and the war in Iran have evolved into existential challenges for the European Union, especially amid growing uncertainty over transatlantic relations and threats from the United States that it may withdraw from NATO.

The defence agreement expected to be concluded by Macron and Mitsotakis next week will also include a new clause providing for its automatic renewal in the future, according to one of the sources.