#GREECE

Greece’s tax authority has clarified the long-standing process for forgiving debts owed by over-indebted individuals, making clear that debt cancellation is not automatic—even after a court ruling.

Greece is gaining ground as a top destination for European tourists in 2025, climbing the popularity ranks especially among German and French travelers, according to new data from the Institute of the Greek Tourism Confederation (INSETE).

Greece may soon stop publishing daily refinery fuel prices online, a move prompted by the country’s competition authority, which warns that the current system enables tacit price coordination between the nation's two dominant refiners.

Greece is set to become a cornerstone of U.S. defense and energy strategy in Europe, according to Kimberly Guilfoyle, the incoming U.S. Ambassador to Athens.

The political atmosphere in Greece continues to deteriorate for Prime Minister Kyriakos Mitsotakis and his New Democracy government, particularly in the wake of the OPEKEPE scandal—a controversy involving mismanagement of EU agricultural funds.

A new study conducted by the Institute of Labor of the General Confederation of Greek Workers (GSEE) paints a stark picture of working life in Greece, highlighting the intensifying pressures faced by employees across the country.

Greece has launched a public consultation on its National Social Climate Plan, a policy initiative designed to support households struggling with the costs of transitioning to a greener lifestyle.

This overwhelming sentiment spans voters of nearly all political affiliations, signaling a deep erosion of trust in the political establishment.

A new company, Kalamata Airport S.A., has been established by a consortium comprising Fraport AG (51%), Delta Airport Investments (24.5%) of the Copelouzos Group, and Pyleas (24.5%) of the Konstantakopoulos Group.

Meteorologists warn of a looming «heat dome» - a weather pattern that traps hot air over an area, causing sustained and extreme temperatures.

According to CBRE’s investor survey, there is heightened interest in hotel assets that offer opportunities for repositioning and value creation.

Of those already processed, nearly 34% have resulted in tax bills, amounting to a total of €3.71 billion in assessed taxes - an average of €1,902 per taxpayer.

Papandreou begins by acknowledging Merkel’s characteristically cautious tone in recounting the events, yet credits her with recognizing certain truths that had been long obscured.

At the Economist Government Roundtable in Athens, Greece presented a compelling case for its emerging role as a key player in Europe’s pharmaceutical landscape.

A massive wildfire erupted Thursday afternoon in the coastal town of Rafina, just east of Athens, engulfing homes and threatening lives as it spread rapidly through the area.

Greek Prime Minister Kyriakos Mitsotakis is set to visit Mount Athos this Friday and Saturday, embarking on an official trip to the monastic republic that holds deep religious and cultural significance in Orthodox Christianity.

Greece’s Public Power Corporation (PPC) has established a new wholly owned subsidiary, PPC Trading Single Member S.A

Greece has introduced a sweeping labor reform bill aiming to modernize employment laws by expanding work hours and digitalizing processes, but the legislation has sparked fierce opposition from trade unions, who warn it risks undermining worker protections and fueling social unrest.

Despite repeated pledges to tighten oversight, the Bank of Greece identified only eight anti-money laundering breaches in 2024 and conducted just seven inspections, raising concerns that regulatory enforcement remains superficial in a sector vulnerable to financial crime.

Tsipras’s appeal comes at a time of renewed reflection on the events of 2015 - arguably the most volatile chapter in Greece’s post-dictatorship history.

This breakthrough follows on the heels of EPPO’s investigation into Contract 717, a separate case involving procurement irregularities, for which criminal charges have already been filed against well-known Greek business figures.

The recordings reveal a disturbing web of political interference, cronyism, and systemic manipulation of EU-funded agricultural payments.

The European Union’s Carbon Border Adjustment Mechanism (CBAM), introduced as part of its broader green transition strategy, is partially reshaping the landscape of international trade. Its main objective is to curb «carbon leakage» - the phenomenon where industries move production to countries with looser environmental regulations in order to escape stricter EU climate rules. While the overall impact on the EU’s trade flows is expected to be limited, the mechanism could significantly affect specific countries and industries, according to a study by the International Monetary Fund. CBAM is designed to protect EU-based companies that bear the financial burden of the bloc’s ambitious climate policies. It does this by imposing a charge on imported goods with high carbon footprints - such as iron, steel, aluminum, cement, fertilizers, and electricity - based on the amount of embedded carbon emissions and whether the country of origin already prices those emissions. This carbon levy ensures that imported products are not unfairly cheaper simply because they come from places with weaker climate standards. Although CBAM formally took effect in October 2023, it remains in a transitional phase until the end of 2025. During this period, importers must report the carbon emissions of the goods they bring into the EU but are not yet required to pay the levy. Starting in 2026, however, the EU will begin charging importers according to its carbon pricing benchmark and the emissions intensity of their products. The IMF estimates that CBAM will raise the cost of EU imports by around 0.1%, and non-EU countries exporting to the bloc will see their total export costs rise by an average of 0.04%. While this may seem marginal at the macroeconomic level, the financial burden will be more acute for countries with high-carbon exports and no domestic carbon pricing - such as Bosnia and Herzegovina, Serbia, and Ukraine - especially in sectors like steel and electricity. Greece, in relative terms, is less exposed to the mechanism. Only about 4.5% of the country’s total imports are affected by CBAM, and the value of these imports from non-EU countries amounts to just 0.1% of Greece’s GDP. As a result, the immediate macroeconomic and fiscal impact is expected to be modest. However, the picture shifts when focusing on specific sectors. A large portion of Greece’s aluminum (89%) and iron and steel (75%) imports originate outside the EU, making these industries particularly vulnerable. According to the IMF study, CBAM could increase the import cost of primary aluminum by 3.9%, iron and steel by 2.9%, and cement and related products by a striking 19.7%. These added costs could ripple through the economy, especially in construction and heavy industry, where such materials are essential. Greece’s dependence on a small number of carbon-intensive raw materials from high-emission countries may lead to price hikes and pressure on domestic industries. This challenge is compounded by the EU’s plan to phase out free emissions allowances for European businesses by 2035. Without an equivalent mechanism to protect EU exporters from carbon-related costs in global markets, companies in Greece and elsewhere may find themselves at a competitive disadvantage abroad.

A massive wildfire has engulfed the Greek island of Chios for a third straight day, unleashing widespread destruction and threatening the island’s famed medieval mastic villages, known as the Mastihohoria.

Greek authorities have announced a major shift in how traffic violations are handled, relieving vehicle owners of automatic liability and placing responsibility squarely on the individual behind the wheel.

An international legal dispute playing out in a U.S. federal court is attracting the attention of Greek tax authorities, as a Greek citizen has been named in a high-stakes lawsuit involving millions in cryptocurrency.

A significant shift is underway in Greece’s accounting and auditing sector, as revealed by the latest annual report from the Hellenic Accounting and Auditing Standards Oversight Board (HAASOB) for the 2023/2024 period.

Affordable property, flexible usage, and an attractive lifestyle are making Greece a magnet for foreign professionals seeking urban residences for seasonal living, remote work, or relocation.

Amid rising tensions following a U.S. strike on Iran, Greek Prime Minister Kyriakos Mitsotakis urged restraint and warned against further escalation, just days ahead of a pivotal NATO Summit in The Hague.

Tensions between Libya and Greece are flaring once again, as Tripoli accuses Athens of violating its sovereignty through unilateral energy exploration in disputed Mediterranean waters — just days before a high-level diplomatic visit.