ekathimerini The Greek Letter - March 17, 2024 : Greek figate in the Red Sea sees first engagement and more...

 

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Sun 3/17/2024 8:05 PM

FORWARD TO A FRIEND > Greek frigate in the Red Sea sees first engagement[ΙnTime News] Constantine CapsaskisNewsletter Editor Welcome to the weekly round-up of news by Kathimerini English Edition. The Hellenic Navy frigate “Hydra” had its first engagement on Wednesday after it opened fire at two Unmanned Aerial Vehicles (UAVs) in the Gulf of Aden. According to reports, the frigate’s radar systems located the two UAVs in the early hours of Wednesday morning. As the UAVs continued to move towards the “Hydra”, its commanding officer ordered his crew to open fire using the ship’s 127mm (5-inch) gun. The two UAVs proceeded to change course, without the “Hydra” needing to use its onboard surface-to-air missiles or its close-in weapon system that were standing-by. It is believed that the two UAVs were conducting an information collection mission, monitoring and identifying the area, as they disengaged following the shots fired from the Greek frigate. This first contact between the “Hydra” and the UAVs disrupting shipping in the region, and the manner in which it occurred, confirms that the frigate’s detection systems are capable of meeting the operational demands. Defense Minister Nikos Dendias, who had visited the frigate alongside the Chief of the Hellenic National Defense General Staff General Dimitrios Houpis and the Chief of the Hellenic Navy General Staff Vice Admiral Eleftherios Kataras on Monday, said that “we are proud of our country’s operations conducted in defense of our national interest, the role of our country, but also the interests of every Greek”. The “Hydra”, operating as part of the European Union naval mission ‘Aspides’ that seeks to safeguard freedom of navigation from both aerial and naval threats, had begun its mission on Monday. Spotlight New Democracy MEP Anna-Michelle Asimakopoulou announced that she would not be standing for re-election in the upcoming European elections as she was embroiled in a scandal involving the leak of an unspecified number of email addresses of Greek voters registered abroad. Her decision followed accusations that she breached the General Data Protection Regulation (GDPR) by sending mass newsletters to emails leaked from the Interior Ministry as part of her re-election campaign. The general secretary of the Interior Ministry, Michalis Stavrianoudakis, also resigned while New Democracy’s secretary for diaspora affairs, Nikos Theodoropoulos, was dismissed following an internal investigation. The opposition parties have also focused on the role of the Interior Ministry, with minister Niki Kerameus also finding herself under fire.   In the run-up to the start of his military service, SYRIZA leader Stefanos Kasselakis presented his party’s roadmap for the upcoming European elections. Kasselakis focused particularly on the economy, decrying the government’s handling of inflation and soaring prices. He also distanced himself from the first SYRIZA government of 2015 in a television interview, stating that “From 2016 to 2019, SYRIZA represented my values. In 2015, and particularly the first six months, it did not,”. On Friday, Kasselakis began his training at a military camp in Thiva where he is expected to serve for approximately 15 days of basic training, as citizens over the age of 33 who present for military service have the option to serve up to 20 days – instead of the full term of 12 months – and can pay off the rest of their term. MUST READS A valuable opportunity for diplomacyGo to article > Institutional games stoke suspicionGo to article > Society’s red linesGo to article > OPINION Tom EllisEditor-in-Chief, Kathimerini English Edition Sending the “best and the brightest” to the European Parliament[Shutterstock] In numerous occasions Greece’s major parties have expressed their intention to send as their representatives to the European Parliament the “best and the brightest”. Still, as the process of choosing the respected candidates moves ahead, it seems that we will again end up with a number of people whose main “advantage” is that they are well known to the public but lack the necessary competence to adequately promote Greece’s national interests in Brussels. To be fair, there are exceptions. Among the candidates announced so far there are professionals from different backgrounds, all widely respected for their accomplishments, who would serve the country well. On the other hand, athletes, artists and other familiar faces to the public, might be a healthy part of society, but they are not necessarily the best possible legislators. Given the decision not to move to an election law that would allow the leaders to choose the order with which the candidates would be placed on the ballot – in essence deciding which ones would be elected and thus end up in Brussels – we are again faced with the possibility that many of the 21 delegates Greece will have as Members of the European Parliament, will not be up to the task. We still have four months to go, and one hopes that the final list of candidates and the way the parties will promote them, will allow for the best possible mix. This criticism is not aimed at a specific party or parties, but rather is valid across the political spectrum. The argument is very simple and goes beyond the ideological differences that are an integral part of the democratic process: Greece as a country will be better off the higher the quality of all its representatives in the European Parliament is. CHART OF THE WEEK The net interest margin is at a high level in the Greek market as it stands at about 5.5% between new loans and deposits and at about 6% for existing loans and deposits. This large discrepancy between the interest rate demanded for loans and offered for deposits, according to observers, is due to Greek banks immediately reacting to European Central Bank interest rate hikes in an asymmetric manner as they immediately increased interest rates for loans while initially keeping deposit interest rates stable, before gradually increasing them by small margins. This has allowed the Greek banking sector to profit heavily from this high interest margin, with their net interest income increasing by 56.1% from 3.87 billion euros in the first three quarters of 2022 to 6.04 billion euros in the first three quarters of 2023.   ESCAPADE Flour Wars in Galaxidi: The Most Colorful Clean Monday Tradition The unique annual Clean Monday celebration in Galaxidi is the perfect excuse for a three-day getaway to this seaside town. Go to article > ECONOMY IN A NUTSHELL “The Athens Exchange (ATHEX) general index closed at 1,422.03 points this week, down 0.35% on a weekly basis.” “The Greek state budget posted a primary surplus of 3.401 billion euros in the first two months of 2024, according to provisional data on a modified cash basis. This is 70% higher than the target of 1.981 billion euros.” “Greece is set to submit a fourth payment request to the Recovery and Resilience Facility (RRF) in April, with a fifth one likely to be submitted by early October. Alternate Finance Minister Nikos Papathanasis noted that more than 60% of Greece’s expected growth is due to these funds.” WHAT'S ON THE AGENDA 18/03/2024Clean Monday: The Greek Orthodox Church will mark the beginning of Easter Lent. 19/03/2024Kolonos Case: The trial of the defendants in the case of the serial rape and prostitution of a 12-year-old girl is set to continue. There was uproar last week when the prosecutor recommended that a 55-year-old man, the main suspect in the case, be acquitted of charges of rape and coercive pimping. 20/03/2024Tempe inquiry: The findings of the parliamentary inquiry on the railway disaster at Tempe will be introduced at a plenary parliamentary session. The inquiry proved a fractious affair, with most of the opposition parties abandoning the process alleging government attempts to cover-up the incident. Editor's PickAll we got from the government was mournful platitudes and assurances that the state apparatus is, apparently, changing. How is it changing?Aris AlexandrisRead the article PODCAST 16/03/2024 • 14:39The Greek debt crisis and President Obama’s foreign policyKaterina Sokou, who holds the research fellowship at ELIAMEP on “Greek-American Relations” and who covered the Greek crisis from Washington, DC as a correspondent for Kathimerini, joins Thanos Davelis to break down how the Greek debt crisis provides a case study into the Obama foreign policy doctrine – the focus of her recent in-depth report for ELIAMEP – and underscores Europe’s continuing importance for Washington, DC. We’d like to hear from youShare your feedback at newsletters@ekathimerini.com Did you receive this email from a friend?Subscribe to our newsletters here