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The Apple of Discord
[InTime News]
Constantine Capsaskis
Newsletter Editor
Welcome to the weekly round-up of news by Kathimerini English Edition. The port of Piraeus has become a focal point of the wider global Sino-American rivalry, following comments last week by newly arrived US Ambassador Kimberly Guilfoyle that it is important to challenge the influence exerted by Chinese control of the port.
The Chinese Embassy in Athens strongly rejected the statement, criticizing it as an unfounded attack on the investment and operation of the port by Chinese companies that reflected a Cold War mentality and hegemonic logic.
Responding to Guilfoyle’s comment that a solution could be found over the port, including the sale of the 67% majority stake in it held by China’s COSCO, the Chinese Embassy emphasized that the port was not for sale.
“The United States, with selfish intentions, is inciting Greece to terminate its contractual obligations and sell the port,” noted an embassy spokesperson, adding that the comments were an egregious intervention in Greek domestic affairs and that they were an effort to undermine bilateral economic cooperation between Greece and China.
The Greek government has carefully attempted to balance its relationship with the two superpowers but has emphasized that the country will not be looking to go back on the deal with COSCO over Piraeus, with the country’s Foreign Ministry noting that it “respects the agreements concluded in the past”.
This was reiterated by Prime Minister Kyriakos Mitsotakis who, commenting on the debate over Piraeus, said that “we have already signed agreements […] that prove we can shape win-win arrangements without questioning investments that were made in the past and whose structure must be respected”.
But Mitsotakis also stressed that Greece can “find a way to cooperate fully with the Americans”, stressing the country’s important role as “a gateway for American LNG into the European market” and the importance of the Vertical Corridor which will help supply Ukraine with natural gas.
This closer co-operation with Ukraine, along with a deal signed by Mitsotakis and Ukrainian President Volodymyr Zelenskyy during his visit to Athens last week for the co-production of maritime drones, raised the ire of Russia this week, to fully complete the inclement geopolitical situation for Greece.
“Greece is pursuing a provocative and confrontational policy toward Russia, engaging in openly hostile actions”, noted Foreign Ministry spokesperson Maria Zakharova, adding that Russia would respond appropriately. The European Commission has expressed its full solidarity with Greece over the threats.
Spotlight
The investigation into the alleged embezzlement of European Union community funds through the OPEKEPE agricultural payments agency took a dramatic turn this week when one of the key figures implicated refused to testify before Parliament’s investigative committee. George Xylouris, also known as “Frapes”, appears in the European Public Prosecutor’s case file and, along with Andreas Stratakis, known as “Hasapis,” are accused of being key figures in organizing the fraudulent payments on the island of Crete. In his statement, Xylouris noted that he was exercising his right to “silence and non-self-incrimination”. The government majority referred his refusal to the prosecutor for “disobedience”, while opposition parties have demanded a forced appearance and accused the government of initiating a cover-up. This has led to a fresh round of political jabs, with government spokesperson Pavlos Marinakis accusing the opposition parties of instrumentalizing the scandal while the opposition parties have renewed calls to have implicated former New Democracy ministers Makis Voridis and Lefteris Avgenakis testify.
Easing pressure on the government over the OPEKEPE scandal, however, the European Commission has approved its action plan over the payment of agricultural subsidies, unlocking the frozen payments. “I estimate that in about 10 days from today, the advance payment of the basic aid will be made”, said Deputy Prime Minister Kostis Hatzidakis. This is particularly important as the government has faced severe pressure from farmers to solve the issue, as the country’s livestock industry is facing the threat of total collapse due to an 18-month sheep and goat pox disease outbreak. Over 400,000 animals have been culled, and 2,135 farms have been closed since August 2024, while there are still concerns that many farmers refuse to comply with biosecurity measures. This has led to the spread of the disease, including to many islands, with the pox achieving near-endemic status. The government has also presented a series of 20 new measures aimed at controlling the outbreak, including the establishment of new certified laboratories and the control of feed movements.
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OPINION
Tom Ellis
Editor-in-Chief, Kathimerini English Edition
Repeated elections and the coalition dilemma
[InTime News]
The analysis of many, who for some time now insist that it is unlikely for the next national election to produce a government, let alone a single-party one, is also – according to the most recent polls – the assumption of the vast majority of Greeks regardless of political persuasion.
As for worries about political instability, a clear majority from across the political spectrum, say they are not concerned about such an outcome.
The public considers it almost inevitable that the next election will fail to produce a parliamentary majority, making a second election a necessity.
It is at this point that things will enter a different phase with the possibility of a coalition government coming more forcefully into play, with the center-right and center-left facing their own internal debates and dilemmas.
One possibility would be a coalition of New Democracy and PASOK, but as a victim of the wiretapping scandal himself the leader of the latter would find it very difficult to accept Kyriakos Mitsotakis as prime minister, although he might be open to another conservative personality leading the government.
The polls show that the public would prefer a center-left coalition of PASOK and parties to its left over a coalition of New Democracy and the hard right or a ND and PASOK.
Despite there being no culture of cooperation and coalition governments in Greece, in 2011 and 2012 the conservative New Democracy and socialist PASOK entered into coalitions, first with a small nationalist party, and then with a leftist one.
From the point of view of electoral calculations, these experiments were not very encouraging for the junior partners as PASOK paid a hefty price dropping to almost extinction point (4%) and the two small parties totally disappeared from the political scene.
And one should not forget that these were extraordinary circumstances, with the country on the brink of financial ruin, which is not the case today.
Despite the dissatisfaction with the ruling party, the result of perceived widespread corruption and erosion of disposable incomes, there seems to be no clear alternative, hence the political impasse.
The equation gets more complicated by the fact that in July 2027 Greece will assume the rotating presidency of the European Council; that is why the elections will most likely be held much earlier, either in the spring of that year or even in late 2026.
More than a year before the next elections one thing is for certain; the Greek political system is facing a legitimacy crisis and there is no clear compass with respect to the “day after”.
CHART OF THE WEEK
The total gross household wealth in Greece has topped the one trillion-euro mark in the first quarter of 2025, up by 200 billion euros from the 800 billion euros recorded in the first quarter of 2018. During this seven-year period, all tracked categories of wealth, both financial and non-financial saw an increase, with real estate maintaining its leading role (but its participation dropping from 64% to 60%). The second category of non-financial wealth, which concerns fixed assets, also saw its participation decrease by 2%. At the same time, financial wealth (bank deposits, bonds, shares, mutual funds, etc.) saw a marked increase from 27% to 33%. This perhaps indicates that, even though most households saw their wealth increase, the wealth of the richest households grew proportionally more, since these households own most of the financial wealth.
ESCAPADE
The many lives along the Nestos river
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ECONOMY IN A NUTSHELL
“The Athens Exchange (ATHEX) general index closed at 2,061.69 points, up 0.11% from last week.”
“The 2026 draft budget was submitted to Parliament this week, with a total of 2.9 billion euros in fiscal measures including the economic interventions announced by Prime Minister Kyriakos Mitsotakis at the Thessaloniki International Fair. One of the most important of these, is the reform of income tax rates.”
“Empty homes continue to be an issue for the Attica housing market. In the Municipality of Athens itself, there are a total of 117,137 vacant properties (26.8% of the total) while in the port of Piraeus there are 21,712 empty properties (22.1% of the total). Despite incentives to return these properties to the market, and hopefully ease the current price hikes, it remains unclear if this will be achieved.”
WHAT'S ON THE AGENDA
24/11/2025
Ithaca: Monday will see the publication of Ithaca, the memoirs of former Prime Minister Alexis Tsipras. In the run-up to its release, news of the book has led to significant political discourse over the legacy of the former premier.
25/11/2025
Orange Week: Marking the International Day for the Elimination of Violence Against Women, the Municipality of Athens has announced a week of events to confront gender-based violence. The city of Thessaloniki will also be organizing an event on the day.
27/11/2025
Elefsina: Development Minister Takis Theodorikakos announced that Parliament will vote on his ministry’s amendment over the Elefsina port on Thursday which will increase the possible operational role of the port beyond just shipbuilding. The amendment is seen as a wider effort to facilitate US investment in the project.
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PODCAST
21/11/2025 • 11:30
Who are the ‘Orthobros’ flocking to the Orthodox Church in the US?
George Demacopoulos, the co-director of the Orthodox Christian Studies Center at Fordham University, joins Thanos Davelis as we look into the “Orthobro” phenomenon, the wave of new converts to the Orthodox Church in the US, and what it means for Orthodoxy.
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