The Greek Letter -ekathimerini.com - A new era for Greek defense ?

 

A new era for Greek defense?[InTime News] Constantine CapsaskisNewsletter Editor Welcome to the weekly round-up of news by Kathimerini English Edition. Greece marked the 85th anniversary of its entry into the Second World War on October 28 with a military parade in Thessaloniki. “The Armed Forces find themselves today in a process, perhaps the most significant reform in their history, in order to respond to the great and particular challenges of the times”, noted Prime Minister Kyriakos Mitsotakis following the parade, adding that “the truly impressive civil and military parade in Thessaloniki reflects the image of a country that respects and honors the glorious moments of its past. At the same time, however, it is able to look to the future with optimism and self-confidence”. To emphasize the forward-looking pivot of the Hellenic Armed Forces, several cutting-edge weapon systems were also demonstrated during the parade including unmanned aerial vehicles, advanced anti-drone systems, such as the Greek-made system “Kentavros” and the electronic warfare weapon “Hyperion”. A few days later, the government also unveiled the new façade of the Ministry of National Defense and a new installation by sculptor Costas Varotsos inscribed with the names of Greece’s 121,692 soldiers known to have been killed in action. “The new façade of the building expresses the new image of the Hellenic Armed Forces, marking the widespread reforms of Agenda 2030”, said Defense Minister Nikos Dendias during the unveiling ceremony, adding that “the new image is not an aesthetic intervention, but it is symbolic of adapting to the new conditions. The change in philosophy of the Hellenic Armed Forces”. However, it is worth noting that despite these public statements , Greece’s domestic state-owned defense industry continues to struggle significantly despite the influx of private capital. Specifically, Hellenic Defense Systems, Hellenic Aerospace Industry, and Hellenic Vehicle Industry, all continue to record losses, often in the millions of euros. Spotlight With the capital region of Attica facing the risk of drought in the near future, with reservoir water levels being at a historic low, the government and the Athens Water Supply and Sewerage Company (in which the state holds a controlling stake) announced a series of initiatives to confront the problem. “Attica faces the prospect of a very serious water supply problem if we do not take drastic measures”, said Prime Minister Kyriakos Mitsotakis when announcing the 2.5 billion euro package. The flagship project will be the diversion of two rivers in central Greece towards the Evinos dam. The goal is for work on the diversion, estimated to cost approximately 535 million euros, to begin in 2026 and be completed by 2029. “The project will ensure about 200 million cubic meters of water annually”, said Energy and Environment Minister Stavros Papastavrou. According to the plan, the water will be funnelled to the reservoir through a series of consecutive tunnels, which will be placed at a height such that water will only be diverted from the river when there are high water levels to minimise the environmental impact and ecological consequences of the project.   Tension within main opposition party PASOK continued to simmer this week, with leader Nikos Androulakis facing renewed criticism by the various party factions. What set off this latest round of internal strife was Androulakis’ choice for the head of his political office. The appointee was forced to resign after just one day when several past statements on social media, in which he heaped praise on the government of Prime Minister Kyriakos Mitsotakis and supported his policies, resurfaced. Compounded by several perceived missteps in recent days, and exacerbated by PASOK’s continued polling stagnation, several leading members have publicly voiced their concerns. This includes both Pavlos Geroulanos and Anna Diamantopoulou, who were both candidates in the latest leadership election. “There are questions around his image, but the image of the leader is a very general issue”, said Diamantopoulou indicatively, despite stating that Androulakis was elected to lead the party and should remain at his post.

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OPINION Tom EllisEditor-in-Chief, Kathimerini English Edition The 3+1 scheme and the regional energy projects[Shutterstock] In the unstable regional environment of the Eastern Mediterranean, any effort at bringing countries together in a cooperation scheme that creates prospects for strategic and commercial benefits is positive not only for the direct participants, but also for the wider area as it enhances regional stability. In this context, the “3+1” format of Greece, Israel and Cyprus, with the active support and participation of the US, which seems to be back in play, is a promising development that should be pursued in a multifaceted way. This week the critical energy dimension of the scheme will be at the forefront as energy ministers from Greece, Cyprus, Israel, and the US, will meet in Athens on the sidelines of the Partnership for Transatlantic Energy Cooperation (P-TEC) conference, hosted by Greece on November 6-7. Greek Energy Minister Stavros Papastavrou and US Secretaries for Energy, Chris Wright, and the Interior Doug Burgum, along with Energy Ministers of Israel Eli Cohen, and Cyprus Giorgos Papanastasiou, will focus on a number of regional energy projects, among them: the Vertical Corridor toward Ukraine; the Great Sea Interconnector (GSI) that is the power link connecting Israel, Cyprus and Greece; the India-Middle East-Europe Corridor (IMEC) – with its global geopolitical significance as a counter to Chinese influence – which is back in play as relations between Washington and New Delhi are returning to a positive trajectory. The prospects are huge and the role of the US crucial. It is not only that Washington is the main ally and partner of the three democracies in the region, but there is also the promising potential on the commercial side as US companies are at the center of explorations in the area. The meeting will offer the new US Ambassador to Athens, Kimberly Guilfoyle, who has just arrived in Greece, an opportunity to promote the latter as an energy hub as well as a main regional stability actor in a volatile region of interest to Washington.

CHART OF THE WEEK

The second-hand goods market in Greece continues to see a substantial increase in total turnover (excluding used car sales), almost quadrupling between 2019 (just over 10 billion euros) to 2024 (over 43 billion euros) with 2025 expected to be a new record year. However, the actual numbers are almost certainly much higher as the majority of sales happen beyond the traditional confines of retail and, mostly, through electronic platforms (including Vinted, eBay, and others) and through social media marketplaces (Facebook, Instagram, TikTok Shop, and others). A survey conducted by Revolut reveals that Gen Z (18-24) spending on these platforms increased by 372% from last year, while even in the 65-74 age bracket a 69% increase was also recorded.

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ECONOMY IN A NUTSHELL

“The Athens Exchange (ATHEX) general index closed at 1,995.20 points, down 0.81 for the week and 1.92% for the month.”

“A total of 204 post offices, accounting for nearly half of the country’s total network (456), will be shuttered next week, with the state-owned company noting that these stores see limited traffic and low commercial activity. The decision of Finance Minister Kyriakos Pierakakis, who spoke of difficult decisions, has been criticized by both the opposition and members of his own party.”

“The price of water is set to go up, with government spokesperson Pavlos Marinakis announcing a hike in the rates of majority state-owned water utility company EYDAP. ‘The country will continue to have one of the cheapest water supplies in Europe’, he said, adding that the company will undertake projects to address the prevalent risk of drought in the capital region.”

WHAT'S ON THE AGENDA

05/11/2025Strikes: There are several industrial actions planned for next week, most notably a 48-hour strike by taxi drivers in Attica on the 5th and 6th of November. Students and teachers are both holding demonstrations on the 6th, while doctors and technicians at private diagnostic centres will strike on the 7th. 06/11/2025P-Tec: The sixth Partnership for Transatlantic Energy Cooperation (P-TEC) forum will be held in Athens, with the United States Secretary of Energy Chris Wright set to attend. A meeting of the 3+1 regional multilateral movement is also expected on the sidelines. 09/11/2025Athens Classic Marathon: The Athens Classic Marathon, which brings together runners from across the globe, will be held on Sunday.

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PODCAST

28/10/2025 • 13:24The Greek diaspora in the US and the story of “OXI”As we’ve seen time and time again in the past, the Greek diaspora has always played a key role in standing with Greece in its time of need. World War II was no exception. As Greeks delivered their famous “Ohi” – or “NO” to the Axis powers on October 28th, 1940, Greek-Americans also stepped up to the plate. Professor Alexander Kitroeff, a historian and expert on the Greek diaspora, joins Thanos Davelis as we explore how Greek-Americans took action, and how “Ohi” became a turning point for the Greeks in the US.

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