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Maritime delimitation controversy with Libya persists [InTime News]
Welcome to the weekly round-up of news by Kathimerini English Edition. Greece’s maritime dispute with Libya over the delimitation of their respective continental shelves and resulting Exclusive Economic Zones (EEZ) continued this week, with the latter submitting a note verbale and a map to the United Nations outlining its claims. In the document, Libya asserts that “neither Greece, nor Egypt is entitled to sovereign rights in the maritime areas delimited between Libya and Türkiye”, while declaring the agreement signed between Greece and Egypt in 2020 “null and void”. The latest note, and attached map, clearly violates Crete’s potential maritime zone influence (with Libya claiming its EEZ reaches almost all the way to the Greek island) while also disputing the western limits of the EEZ submitted by Egypt. Additionally, the Libyan map even challenges the potential EEZ rights of mainland Greece by using the Gulf of Sirte as a baseline even though its excessive width disqualifies it from such a closure. Libya’s claims derive from the Memorandum of Understanding signed between itself and Turkey in 2019, which is incompatible with international law and rejected by Greece as illegal (with the European Union noting that the MoU cannot produce any legal consequences), with the government in Tripoli remaining committed to its relationship with Ankara. This relationship is particularly troubling for Athens as the Tripoli government continues to act as Ankara’s proxy, remaining heavily dependent on Turkey’s support and aligning with its national priorities. Greece also raised the issue with the European Union on Monday during the 5th Ministerial Meeting between the European Union and the Southern Neighbourhood. The Foreign Ministry and other competent authorities are reportedly preparing a response to the Libyan notes, with maps setting out Greece’s maritime rights. It is also expected that Chevron, which was granted exploratory rights in areas south of Crete by Greece, will act as an important catalyst in decision-making centers in the United States, something illustrated by the call held on Tuesday between Energy Minister Stavros Papastavrou and Chevron’s Vice President of Global Exploration Liz Schwarze. However, there is also concern in Athens that the situation with Libya could escalate, with the worst-case scenario being exploratory activity by Turkish and Libyan vessels in Greek maritime zones claimed by the latter. Spotlight
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[InTime News]Former Prime Minister Antonis Samaras is seriously considering moving forward with the creation of a new political entity that will faithfully express his most conservative views on social issues and his toughest positions on the so-called national ones, especially relations with Turkey. He is poised to align himself with the ideological current created by Donald Trump, but it remains to be seen whether, and to what extent, he will have the support of the American president’s movement and other like-minded leaders and politicians, not only in America, but also in Europe. With such an initiative – a result of his ideological differences with and personal animosity towards Kyriakos Mitsotakis – the former prime minister will carry the burden going against New Democracy for the second time in his career. Although this will not have the immediate effect that his previous splitting from ND had – the fall of the then government of Konstantinos Mitsotakis, in 1993 – it will potentially end up having similar consequences. In the current situation, the percentage that he will secure in the next elections, even if it turns out to be smaller than his expectations, will make it next to impossible for ND to achieve an absolute majority; it will even make rather difficult any efforts of the present leadership of the ruling party to form a government. With the political scene completely fragmented, the country will enter a period of uncertainty. However, as there are no dead ends in democracies, one way or another, after navigating through a minefield of potential terms and conditions that may be set, one could envisage the creation of a coalition government down the road. As for the personal imprint of Antonis Samaras himself, if the past, and especially the recent one, is indicative of how things might play out, there is no room for much optimism. Mr. Samaras’ first attempt, and the founding of Political Spring more than 30 years ago, may have overthrown the then New Democracy government, but it did not last long. The “problem” is not confined to Mr Samaras. Another former prime minister, George Papandreou, made a similar move in 2015, splitting from PASOK and founding his own party, KIDISO, which failed to survive politically, resulting in his eventual return to PASOK after a short period. In any case, what seems clear is that if Mr. Samaras’ intentions materialize they will most likely contribute to a complex and unpredictable post-election environment. |
Rents for commercial properties on Greece’s most popular shopping streets continue to increase, as demand by major retailers increases while the supply of properties remains low (indicatively, the only new major development to offer new commercial properties is Elliniko which is expected to be complete in 2027). Thus, the annual average increase of rents in the capital region of Attica was recorded at 11%, even reaching 20% in the city of Patra. However, despite these increases, sources quoted by a recent study emphasize that with the expansion of digital retail, in which several major groups invested heavily during the pandemic, companies are less willing to pay any price for a physical store on these major commercial thoroughfares. |
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| “The Athens Exchange (ATHEX) general index closed at 1,985.52 points, up 1.29% from last week. This marks a new 183-month high, with the benchmark reaching levels unseen since April 2010.” |
| “Real tourism revenues in 2024 declined by 1.6% when compared to 2019 when adjusted for inflation, according to a recent study. While the number of arrivals in 2024 surged to more than 40 million, the average spend per visitor has dropped significantly as has the average duration of the stay. To exacerbate the situation, early indicators for the first half of 2025 show a slowdown in the rate of arrivals from last year.” |
| “Greece recorded a primary surplus of 4.6 billion euros over the first half of the year from 77 million euros over the same period in 2024. At the same time, the cash deficit at the central government level decreased to 465 million euros, from 1.6 billion euros in 2024.” |
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Editor's Pick The conservative prime minister has unleashed the migration and asylum minister, giving him free rein to take legally unconscionable measures and to spread crazy conspiracy theories in the hope of keeping the far-right factions of New Democracy in the foldRead the article |
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