GREECE
Macro/Political:
- The Harmonized Index of Consumer Prices (HICP) in November 2025 increased by 2.8% (y-o-y) and decreased 0.1% (m-o-m).
Source: ELSTAT
- Greece’s Minister of Economy and Finance, Mr. Kyriakos Pierrakakis, is bidding to become president of the Eurogroup in a vote against Belgium’s Finance Minister, Mr. Vincent van Peteghem. The contest serves as a symbolic test for Greece on its path to full rehabilitation within the euro area, as its finance minister seeks to lead the very forum where the country’s debt crisis once unfolded.
Source: Bloomberg
- The government will grant a pension of EUR 1,700 per month and offer other tax relief to the victims and relatives of the 2017 floods in western Attica and the 2018 wildfires in Mati, the Finance Ministry announced Tuesday. In the case of wildfire victims, beneficiaries are the relatives who died as well as the burn victims with second or third degree burns and a disability rate of 50% or more who are included in the Burn Victims Registry. It is important to note that the pension equal four times the full national pension, is tax free, is not offset against debts, and will be paid regardless of whether the recipients are employed or receive another pension.
Source: Kathimerini
- Farmers protesting delays in farm-aid payments were expected to escalate their nationwide blockades today by obstructing the freight terminal at the port of Volos in central Greece. Blockades also continued at key points on major highways, including the Athens–Thessaloniki route, Egnatia Odos, Ionia Odos, and Olympia Odos, as well as at border crossings with Bulgaria and North Macedonia.
Source: Kathimerini
CYPRUS
Macro/Political:
- The government secured parliamentary backing for its tax reform package after Minister of Finance Mr. Makis Keravnos reached an agreement yesterday with the governing coalition parties DIKO, DEPA, and DISY.
The deal will cost the state approximately EUR 110 million per year, will raise the tax-free threshold to EUR 22,000, and will extend tax relief to families with annual incomes of up to EUR 200,000, depending on the number of children.
Following yesterday’s development, the tax reform is expected to take effect on 1 January 2026.
Source: PhileNews
