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Deteriorating situation in the Aegean [Shutterstock]
Welcome to the weekly round-up of news by Kathimerini English Edition. It seems likely that the “era of good feelings” between Greece and Turkey may be coming to an end, with a deterioration of bilateral relations seeming inevitable. The decision by Ankara to unilaterally proclaim two maritime parks under its jurisdiction, in areas which are not only outside its own territorial waters but provocatively lie in areas where Greece has potential legal rights, and its objection to two of Greece’s Special Spatial Planning Frameworks (one for tourism and one for energy) mark a new three-year low in the relationship. The two marine parks, one between the Greek islands of Samothraki and Limnos and the other around the island of Kastellorizo which separates it from Rhodes, are seen as particularly egregious. This is because Ankara may follow this arbitrary declaration with rules and regulations, including limits on fishing, navigation, and surveys in these areas. Athens has criticized Ankara’s maneuvers, stating that Turkish criticism of the Greek Spatial Planning Framework for energy “contains a series of baseless, absolutely unacceptable claims which we reject”, adding that, following Turkey’s reaction to the Spatial Planning Framework for tourism, “this repetition … points to an obsession with revisionist positions that have no legal foundation”. These moves by Turkey have also been accompanied by a revival of more aggressive rhetoric, with a return to claims of “gray zones” in the Aegean and areas “whose sovereignty has not been transferred to Greece through international agreements”. Additionally, as expected, the return of sharper rhetoric by the Turkish government has also seen a surge in the number of violations of Greek airspace by Turkish warplanes and uncrewed aerial vehicles. The Greek government is reportedly already formulating its response to Turkish attempts to impose the “Blue Homeland” doctrine in the Aegean and Eastern Mediterranean Sea. This includes a hardening of the Greek position on a variety of Euro-Turkish issues, including renewing its objections to Turkish participation in European defense programs and the modernization of the customs union. A high-level meeting between Greece and Turkey, such as a possible meeting between Prime Minister Kyriakos Mitsotakis and Turkish President Recep Tayyip Erdogan on the sidelines of the United Nations General Assembly in New York in September, also seems highly unlikely as a stop to high-level discussions seems almost certain. Spotlight
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 [Reuters]With elections expected to take place by next spring and tensions with Turkey on the rise, Prime Minister Kyriakos Mitsotakis sees relations with Greece’s neighbour to the East as an issue where he has an advantage compared to his political opponents. Thus, he intends to keep national security at the center of his pre-election campaign. In doing so he will have to navigate a fine line between the need for realism and moderation on the one hand, and toughness in the face of Turkish revisionism, on the other. Mitsotakis has faced criticism, mainly from former conservative prime minister Antonis Samaras, but even from within his own New Democracy party, over his “calm waters” approach to Ankara. At the same time, he views security and foreign affairs as his strengths, hence he believes tensions could politically benefit his ruling party, and for that reason he intends to take the issue of more effectively dealing with Ankara, to the polls. In the upcoming weeks and months Turkey’s planned maritime parks outside its territorial waters and the renewed push to build an electricity interconnector cable linking Greece and Cyprus, will test Greek-Turkish relations. With opposition parties, along with Samaras, expected to heavily criticise the government’s policy towards Ankara, Mitsotakis will highlight achievements during his more than seven years in office; from major defense purchases that shifted the balance of power in the Aegean, to Greece’s maritime spatial planning and marine parks, to expanded territorial waters in the Ionian Sea, and signed agreements for hydrocarbon exploration efforts south of Crete. One thing is certain; relations with Turkey will be at the forefront, both internationally and domestically. |
 Greek depositors lost more than 23 billion euros in real terms the four years between 2022 and 2025, as the high rate of inflation eroded their savings. This means that even fixed-term deposits, traditionally seen as a way to keep abreast of inflation, have had a negative performance. In 2025 alone, such losses are estimated at 3.9 billion euros as the average weighted interest rate was just 0.31% for the 155 billion euros in deposit (meaning that total interest paid to depositors was limited to just 480 million euros) at a time when the annual average inflation rate was at 2.9%. |
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| “The Euronext Athens (ATHEX) general index closed at 2,634.24 points, up 0.42% from last week.” |
| “The National Employment Agency recorded a total of 715,328 registered unemployed individuals, down 10.1% from the same month last year. Nearly 70% of those (495,322) are women, and 51.9% (371,019) are long-term unemployed, i.e. have been registered as unemployed for more than a year.” |
| “While tourist arrivals increased year-on-year in June by 6.9% to 4.9 million visitors, revenue was only up 1.2% compared to last year according to the latest data by the Bank of Greece. Spending per person has dropped by 6.2% year-on-year.” |
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Editor's Pick The three men may not have had a direct connection, but, with their thoughts, their actions, and their interventions in public life, they complemented each other.Read the article |
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