A new spark in the relationship [InTime News] | Constantine CapsaskisNewsletter Editor |
Welcome to the weekly round-up of news by Kathimerini English Edition. French investment group Meridiam acquired this week a majority stake in the Great Sea Interconnector project, which aims to link the power grids of Greece and Cyprus. The agreement for the 66% stake of the GSI, signed at the Prime Minister’s Maximos Mansion, is widely seen to be of great geopolitical importance. After all, the main barrier to the project’s completion remains Turkish opposition and obstruction. Prime Minister Kyriakos Mitsotakis hailed the deal as “an important step forward”, describing the proposed link as “a project of strategic importance for Greece and Cyprus but also for Europe as a whole”. Energy Minister Stavros Papastavrou also noted that this deal will act as an important catalyst to bring the project to completion. It is clear that it is the government’s hope that renewed French political and economic commitment to the project will be enough to overcome Turkish efforts to scupper it, with responsibility for the geopolitical heavy lifting now primarily lying with Paris. While France has already been involved in the project, through the participation of French company Nexans, this agreement should substantially increase Paris’ interest in seeing the construction through. It is worth reiterating that one of the main hurdles in the project’s way remains Turkey’s obstructionist approach in the east Mediterranean. In 2024, a vessel carrying out seabed surveys between the islands of Kasos and Karpathos was blocked by Turkish warships. This would be a recurring pattern during efforts to move forward with the project, as Turkish warships continued to appear whenever work would get underway. This is because Turkey continues to illegally claim control of maritime areas in the Aegean and Eastern Mediterranean. Work on the project began under the assumption that cable-laying would not trigger a Turkish response, despite warnings from both the Greek Defense and Foreign ministries to the opposite effect, and it remains to be seen whether active French involvement will blunt Ankara’s approach. So far, this seems unlikely. A day after the deal was signed, there were 17 violations of Greek airspace by Turkish warplanes and uncrewed aerial vehicles. The situation even deteriorated to the point of a simulated dogfight. Spotlight - Last week’s destructive wildfires near Porto Germeno and Megara continue to push the capital region of Attica towards an ecological catastrophe. It is estimated that over the last decade between 36% and 42% of the region’s forests have been burnt, with approximately 48,000 hectares turning to ash. Aside from the harm to life, both human and animal, and material damage dealt by these fires, there are also important environmental ramifications that persist for decades. These include higher temperatures, with records pointing to an eight-to-ten-degree increase following a fire, and increased risk of flooding, something witnessed in Attica more and more. Additionally, as many of these areas have suffered repeated wildfires (indicatively, Mount Penteli to Athens’ north has seen five fires since 2009) they also risk desertification, not only due to soil degradation but also because forests comprised of several types of trees including firs or black pines cannot regenerate naturally. According to WWF Greece, the non-regenerable woodland damaged by fires is approximately 21,000 hectares.
- Hope for Democracy, the new party launched by former president of the Tempe Victims’ Association Maria Karystianou, has seen a spate of departures and flagging poll numbers. Despite making an early splash when the party first launched in May, with Hope for Democracy polling as the fourth most popular party in Greece, it has steadily seen its support and appeal wither. The resignation of party spokesperson Thanasis Avgerinos last week was followed by those of more than twenty people. “We refused to compromise with practices that we considered to be incompatible with the principles that launched this effort”, said a statement released by those leaving the party, accusing Karystianou’s party of a leader-centered and authoritarian decision-making model, as well as a lack of both transparency and collective democratic processes within the organization.
|
OPINION | Tom EllisEditor-in-Chief, Kathimerini English Edition |
The nuclear family [InTime News]Encouraged by polls that show him not only passing the 3% threshold to enter parliament but potentially getting between 5% and 10% of the vote, former Prime Minister Antonis Samaras is getting ready to announce the establishment of his new party in September. All indications are he will put heavy emphasis on fighting the woke agenda. The latest evidence of this were his repeated attacks on the Minister of Social Cohesion and Family Affairs, Domna Michailidou, whom she accused for not believing in and fighting for the nuclear family. Michailidou’s statement that one cannot say that the family of the future in Greece will be made up of a father, a mother and their children, drew ire from Samaras, but also created tensions inside the ruling New Democracy among the liberal centrist wing of the party and the traditional conservative one. In addition to making opposition to the woke agenda his top priority, Samaras will also focus on being tough against illegal immigration and towards Turkey. Whatever the appeal of this new party, it is certain that the ruling ND will feel heavy pressure on its right. The latest indications are that Prime Minister Kyriakos Mitsotakis intends to hold national elections in the spring of ‘27, at the end of the government’s four-year term. Still, Samaras does not rule out the possibility of a surprise move and an early election. Hence, he seems to have concluded that, with recent polling trends favouring a formal launch of a “trully conservative” party soon, September is the optimum time for him to do so. |
| CHART OF THE WEEK | |  Exports of yoghurt, kiwi fruit, and strawberries are seen as a “success story” for Greek producers, particularly as Greek exporters continue to face several structural challenges including low production volumes. Traditional wisdom dictates that low prices are required for a good to be competitive, yet Greek yoghurt exports by major Greek producers have more than doubled over the last six years despite maintaining a 30% price premium over competitors. In fact, many of the major dairy companies now have higher values of sales abroad than in Greece. However, they have achieved their strong performances by investing and doubling down on mature markets they already had a presence in, including the United Kingdom and France. The increase in kiwi fruit production, on the other hand, also reflects the substantial increase in Greek production (60%). |
| | |  | ESCAPADE | | How Alonissos became a haven for a community of Americans How one retired American teacher helped turn a quiet Sporades island into a beloved summer home for generations of friends and family. Go to article > |
|
| ECONOMY IN A NUTSHELL | | | “The Euronext Athens (ATHEX) general index closed at 2,615.07 points, up 1.8% from last week.” | | | “Greece’s ‘growth dividend’ does not seem able to cover the increasing cost-of-living, with inflation outpacing net income increases for many Greeks. While the cumulative increase in prices for the period between 2021 and 2025 was inline with the European average, the Greek median equivalent disposable income continues to stand only at 60.8% of the European average.” | | | “Small one-bedroom apartments, of a size between 40 and 60 square meters, have emerged as the strongest performers in the Greek real estate market, with higher price increases than the overall market and other larger properties. This reflects greater demand for smaller, more affordable homes, as well as changing household needs.” |
| WHAT'S ON THE AGENDA | | - 10/08/2026Education Vouchers: The preliminary results of applications for nursery vouchers will be announced on Monday.
- 11/08/2026Teachers: The Education Ministry has announced that it will publish the names of 5,487 teachers who will be permanently hired to cover staffing shortages.
- 15/08/2026Dormition of the Virgin Mary: An important religious holiday on the Greek Orthodox Calander, the 15th of August is a national holiday.
|
Editor's Pick The country’s bankruptcy and the experience of the crisis of the previous decade had placed a restraint on unchecked promises.Kostis FafoutisRead the article |
| We’d like to hear from youShare your feedback at newsletters@ekathimerini.com |
|
No comments:
Post a Comment