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Parliament passes budget [InTime News]
Welcome to the weekly round-up of news by Kathimerini English Edition. The Hellenic Parliament approved the 2025 budget with 159 votes in favor to 139 votes against, one of the last items on the agenda for the year. It is worth noting that the country’s defense expenditures were approved by an enlarged majority of 258 MPs. Bank charges were one of the main issues on the agenda, with Prime Minister Kyriakos Mitsotakis declaring that charges on several types of transactions (including the payment of bills and taxes) will be abolished and that transfer fees on sums up to 5,000 euros will be capped at 0.50 euros. PASOK leader Nikos Androulakis claimed these measures as a victory for his own party, noting that it was a “significant parliamentary victory” as “for two years, Mr Mitsotakis has acted like Pontius Pilate in the face of the banks’ profiteering”. However, new SYRIZA leader Sokratis Famellos was very critical of what Androulakis called “a path of productive and meaningful opposition”. Famellos noted that society “does not want consensus politics or a tango for two”. Additionally, Lefteris Avgenakis, a former New Democracy minister, was one of the four independent MPs to vote in favor of the budget (along with three former far-right ‘Spartiates’ members). It was later announced that Avgenakis has been readmitted to the ruling party’s parliamentary group, six months after physically assaulting an Athens International Airport employee. Overall, heading into the New Year, New Democracy continues to maintain its lead over opposition parties with a recent survey projecting a vote share of 30% with PASOK following in second place with 17%. However, it is becoming increasingly apparent that the Greek electorate is entering a new phase of volatility with big shifts across party lines. In surveys commissioned by the prime minister’s office, New Democracy retains a voter cohesion of 67%, losing centrist voters to PASOK (6.5%) and to far-right parties (including 4.1% to Voice of Reason). With current projections forecasting up to 10 parties entering the Hellenic Parliament if elections were held today, it is clear that parties must prepare for a new political landscape. Spotlight
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OPINION
 [InTime News]As the Middle East is exploding and a new geopolitical landscape is being shaped in the wider Eastern Mediterranean region, US diplomacy will play a major role in the outcome which already involves a change in regional dynamics. Being the only power with direct influence on all the major players in the area, Washington will use its political weight – potentially backed, when necessary, by its military might – to have a critical impact on developments. Depending on the circumstances US will utilize an array of carrots and sticks to persuade friends and allies to move in a certain direction, while trying to keep foes at bay. In this volatile situation, Greece – a widely recognized stabilizing actor in the East Med and the Balkans – has serious concerns about Turkey’s aggressive involvement in Syria and its direct influence over certain armed fractions in the country. Ankara’s plans to forge an agreement with the new Syrian leadership on maritime zones is – along with other issues – a worrisome development for both Greece and Cyprus as it would impact the latter’s exclusive economic zone. There needs to be long term vision and planning, not just short-term reactions to the latest movements on the ground, and the burden for this falls on the State Department. The Trump Administration is going full force with political appointees who in many cases will have access to the president, but the developing situation in the region demands experience and deep knowledge of issues, personalities, historical animosities and sensitivities of different actors. Hence, career diplomats, if not necessarily in the relevant capitals, but definitely back in Washington, will have to exert influence through persuasion, to ensure some stability and consistency, especially as foreign policy under Donald Trump looks to become more unconventional. Political appointees will be well served if instead of dictating actions and policies, rely heavily on the advice of experienced diplomats. The puzzle in the East Med is so complex, one – no matter how strong – cannot approach developments in a linear and simplistic way. In that context, the US should value and actively support the few democratic, predictable and credible allies it has in the region. |
| CHART OF THE WEEK |
 A survey has noted that owners of old and dated apartments who invest in their properties’ renovation can expect to receive rents higher by an average of 26%. Depending on the area of the property, this percentage can be almost triple this figure, such as around Ymittos where renovated flats are let for 74.4% more. The survey also stated that approximately 65% of all apartments that are currently available to let have never been renovated, while 89% of the total properties in Greece are more than 25 years old. It is worth noting that only 11% of the current housing stock was built after the turn of the millennium, another symptom of the financial crisis. |
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| ECONOMY IN A NUTSHELL |
| “The Athens Exchange (ATHEX) general index closed at 1,452.50 points, down 1.14% from last week.“ |
| “Olive oil producer prices are falling rapidly; however, retail prices are only expected to fall after the holiday season. Experts are predicting the price will drop from approximately 11 euros a liter to about seven or eight euros.” |
| “International interest in Greece’s private education sector continues, with talks underway for further acquisitions. Already, several schools, including the Moraitis School, the Costeas-Geitonas School, and Doukas School, have initiated partnerships with international funds.” |
| WHAT'S ON THE AGENDA |
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Editor's Pick Most parents of those who were declared missing, and about half of the women whose husbands were lost, have died. Those who are still alive, and the lost men’s children, deserve to know what happened to their loved ones in the last moments of their lives.Nikos KonstandarasRead the article |
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