Author: Irini Petrou

Greece has a negative lead in Europe on the income-housing costs ratio, with 27% of the Greek population spending more than 40% of their disposable income to cover housing costs. November’s Financial Stability Report by the Bank of Greece (BoG) attributed the country’s position to its low per capita income compared to the rest of Europe. According to the report, Greece also ranked first in terms of housing costs. The figures, reported by Nafteboriki, show that: – Apartment prices (in nominal terms) rose by 13.9% in the second quarter of 2023, year-on-year, compared to an increase of 11.8% in 2022.–…

The United States substantially increased its coal exports to Europe over the past year, following sanctions the European Union imposed on Russia. The U.S. increased its coal exports 22% between August 2022 and July 2023 “driven almost exclusively” by demand from Europe, according to the U.S. Energy Information Administration. The EIA noted that before the Russian war on Ukraine, Europe received almost one third of Russia’s total coal exports. Today, it has fallen “to almost nothing,” the EIA said. The EU’s prohibition on Russian coal is part of a sweeping package of import and export sanctions it adopted after Russia’s…

One solution would be to free up hundreds of thousands of empty apartments in the capital, according to a government minister. Soaring house prices and rents and making it tougher for Greeks to move onto or up the property ladder. According to the Bank of Greece, house prices across the country rose by 14.5% in the first quarter of 2023, and in Attica and Thessaloniki, prices went up by 16.5% and 16.1% respectively. Sofia Zacharaki, the Greek Minister for Social Cohesion and Family, said the government was looking at a range of options to increase the number of affordable properties…

Boosted by election success, far-right strands are organising. But experts say they don’t yet pose the same threat as Golden Dawn. Far-right activists and neo-Nazi organisations in Greece recently called for a pan-European memorial in Athens, to commemorate 10 years since two members of the self-described Nazi organisation, Golden Dawn, were killed. On November 1, 2013, Manolis Kapelonis and Giorgos Fountoulis – both in their 20s – were fatally shot in a drive-by attack outside the party’s office, an apparent revenge assault for the murder weeks earlier of the anti-fascist rapper, Pavlos Fyssas, by a Golden Dawn member. In response…

Visiting China, Greek premier Greece can play bridging role in Sino-European relations Prime Minister Kyriakos Mitsotakis, currently on an official visit to Beijing, has expressed Greece’s intention to strengthen economic relations with China. At the beginning of his meeting with Chinese President Xi Jinping, Mitsotakis highlighted the success of the Port of Piraeus, operated by Chinese shipping giant Cisco, emphasizing its mutual benefits. “It has been a successful investment for both sides and we look forward to further expansion. Of course, there is significant scope to improve our trade relations, so that more Greek products enter the Chinese market, and…

The Polygyros olive oil cooperative does not seem a likely target for a heist. If anything, its setting, at the foot of the Holomontas mountain in Halkidiki, evokes the bucolic innocence of rural Greece. Certainly its breezeblock warehouses bear little resemblance to the modern premises that house the Mitseas olive mills in southern Messinia. But in recent weeks both have been targeted by thieves, who gained entry through a battered iron door in Polygyros and a hi-tech security portal in Messinia. “The oil has gone,” said Yannis Keliafanos, a farmer at the cooperative. “There is very little of it left.” With…

Now, Dronamics, the first cargo drone airline licensed to operate in Europe, will collaborate with Hellenic Post (ELTA) to use cargo drones for middle mile postal logistics. “Starting with a domestic service connecting the mainland with islands, the two companies are also exploring international cooperation to provide postal cargo drone deliveries from Athens to key European cities,” says a company announcment. Dronamics expects to begin commercial operations early in 2024: Greece is the launch market. The company plans to establish same day service between Athens and areas in the north of the country, as well as islands in the south. Dronamics will…

European regulator Thierry Breton shared a letter to Meta CEO Mark Zuckerberg on Wednesday urging the billionaire to be “vigilant” about removing disinformation on his company’s platforms during the ongoing Israel-Hamas conflict and ahead of upcoming elections. Breton, European commissioner for the internal market, said the European Union has been seeing an increase in illegal content and disinformation on “certain platforms” following the Hamas attack on Israel. Meta owns popular social media platforms like Instagram and Facebook, as well as Threads, the company’s competitor for X, formerly known as Twitter. Under the EU’s newly enacted Digital Services Act, Meta is responsible for monitoring and removing illegal content like terrorist content…

The excellent level of bilateral relations was confirmed on Friday during the meeting in Athens between Prime Kyriakos Mitsotakis and his South Korean counterpart Han Duck-soo. “The ties between our two countries go back many decades, when Greeks fought alongside your people for the freedom of your country. A difficult war on the Korean Peninsula,” Mitsotakis said. As two maritime countries that share common values, such as commitment to international law and the Law of the Sea, they also discussed the prospect of strengthening and deepening bilateral economic cooperation. Their talks came on the back of a meeting that Mitsotakis…

Will be remembered as a deeply emotional and historical day for all Greeks who watched online or attended at Naval Group shipyards in Lorient, France the ceremonial launch of the first modern Greek frigate in nearly three decades. The anticipated commissioning of the lead ship of the Kimon-class (FDI HN) frigate in early 2025 will herald the rejuvenation of the Hellenic Navy (HN) with one of the most formidable and cutting-edge designs on a global level. Τhe entry into service of Kimon (F601) in 2025 will mark the beginning of a new era for Greece’s naval capabilities as several characteristics of the new frigate are introduced for…