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Greece and France renew defensive pact [InTime News]
Welcome to the weekly round-up of news by Kathimerini English Edition. Greece and France renewed a defense agreement, which includes a mutual assistance clause and was first signed in 2021, for another five years with automatic renewals thereafter. The pact was signed during an official visit by President Emmanuel Macron to Athens, which included a tour of the HN F-601 Kimon, the first of Greece’s new French-built FDI frigates and which is widely seen as the manifestation of this new era of Greek-French cooperation. On Friday, Prime Minister Mitsotakis and President Macron also held a discussion at the Roman Agora in central Athens moderated by Kathimerini Executive Editor Alexis Papachelas, focused on closer European coordination in defense and the need for strategic autonomy. During the conversation, President Macron also stated that “if [Greece’s] sovereignty is threatened, know that we will be here”, adding that “the French-Greek alliance – this is it”. He also invoked France’s stance during crises in 2020 and its support for Cyprus earlier this year. The issue of Cyprus and the European Union’s mutual defense clause was also brought up during the press conference given by the Greek prime minister and the French president following the signing of the agreement, with Macron stating that “On article 42, paragraph seven … we know that for us, it is clear and there is no room for interpretation or ambiguity, if I may say so, on this clause.” The two leaders also brought up the EU’s post-pandemic Recovery Fund, calling for an extension to repayment deadlines. Macron noted that “we borrowed during Covid. Today some tell us we must repay quickly. That is absurd,” adding that “let’s extend this debt or move to new bond issuance”. This was echoed by Mitsotakis who said that “what is the point of repaying now… reducing fiscal space for the next six years when there is strong demand for European bonds”. The two sides also signed a further nine agreements, including accords to deepen cooperation in education, vocational training, scientific research and nuclear technology. Reflecting on the agreement, Prime Minister Mitsotakis stated that it is “is a wide strategic agreement that further deepens relations and creates new opportunities, from artificial intelligence to cybersecurity”. Spotlight
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OPINION
 [Delphi Economic Forum]As many are debating how the western world might navigate the tense situation created by President Trump’s attacks on Europe, the US Ambassador to the European Union, Andrew Puzder, offered a more hopeful and less confrontational assessment of the Euro-Atlantic relationship than what the harsh rhetoric coming out from Washington seems to indicate. During a fireside chat we had at the recent Delphi Economic Forum, he opted to frame the debate in a more cooperative manner, making clear that despite public disagreements that often dominate the headlines, beneath the surface a dense network of cooperation is taking shape. Especially with respect to the diverging approaches to energy – from America’s “drill baby drill” to Green Europe – he noted that “renewable sources, although essential, are not sufficient on their own to support industrial development and the growing demand of the digital economy”, and the “operation of the AI economy requires stable and affordable energy, something that is not yet fully ensured in Europe.” In that context, he used Greece as a great example of a country pursuing a multidimensional strategy, investing in hydrocarbon exploration, the development of LNG infrastructure, and the promotion of renewable energy sources. Although it is clear that the relationship is obviously being redefined, there is a clear recognition that a strong European economy serves the strategic interests of the US and that is why cooperation continues dynamically at the business level as European and American entrepreneurs maintain active channels of communication. He noted the obvious, that at a time of intense geopolitical shifts and the rise of China, relations between the European Union and the United States remain a critical component of US strategy, and in this context he noted that the EU–US trade relationship remains the largest in the world and needs to be strengthened further as common US-EU strategies are the best response to global challenges on issues from energy and critical minerals, to data centers and access to advanced artificial intelligence infrastructure. The conclusion is rather clear: do not take Donald Trump’s specific words literally, but rather take seriously the need to deal forcefully with specific issues the US raises, like the need for Europe to deregulate. |
| CHART OF THE WEEK |
 One in two consumer loans taken out in the first quarter of 2026 were from partner merchants or marketplaces. These are loans that were approved in-store at the time of purchase, either physical or online. These approvals, dubbed embedded finance, are not a new phenomenon but are increasingly becoming the dominant trend due to the increasing presence of e-commerce and the development of partnerships between platforms and banks. These agreements mean that consumers no longer have to separately apply for a consumer loan at the bank itself, making the lending process part of the transaction. |
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| ECONOMY IN A NUTSHELL |
| “The Athens Exchange (ATHEX) general index closed at 2,220.02 points, down 3.86% from last week.” |
| “Greece is the fourth most popular summer destination among Europeans according to the latest European Travel Commission report, which noted that travel sentiment for spring and summer 2026 has soared to 82%, up 10% and reaching its highest level since 2020.” |
| “Greece is the fifth largest short-term rental destination in Europe, with a total of 52 million overnight stays in 2025.” |
| WHAT'S ON THE AGENDA |
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Editor's Pick Anyone who wants to govern must give the people a little hope along with some guarantees that they know how to do it without veering into dangerous political experimentationAlexis PapachelasRead the article |
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