GREECE
Macro/Political:
- The new energy crisis caused by the conflict in the Middle East is expected to push the European Union economy into a phase of lower growth and higher inflation, according to the European Commission’s Spring Forecasts for 2026. More specifically, Greece’s GDP growth is projected at 1.8% in 2026 and 1.6% in 2027, down from 2.1% in 2025, as higher energy costs are expected to reduce households’ real disposable income and dampen private consumption.
At the same time, inflation in Greece is forecast to rise to 3.7% in 2026, remaining above the euro area average, as higher energy costs are passed on to electricity, fuel, and broader goods and services prices. Furthermore, inflation is expected to ease to 2.4% in 2027, although the report notes that secondary inflationary pressures are likely to remain strong due to wage increases and a tight labour market. Debt to GDP is expected to fall 140.7% in 2026 and 134.4% in 2027, as Greece is expected to maintain a favourable fiscal position, with sustained surpluses.
Source: European Commission
Markets:
- CrediaBank announced that it has agreed to acquire Evropi Holdings S.A. through a share-for-share exchange and merger by absorption. It is important to note that Evropi is an integrated insurance platform combining underwriting and brokerage activities, with a diversified business portfolio spanning general insurance products, industrial, commercial and financial risks, transport, reinsurance services and credit insurance.
Eleni Vrettou, CEO of CrediaBank, commented that “the combination with Evropi marks a further step in the disciplined execution of our strategy to build a more diversified and resilient business model.”
Source: Athens Euronext
