Mitsotakis Reshuffles Cabinet After Three Government Members Linked to OPEKEPE Scandal

Macro/Political:

On Wednesday (08/04), Greece will auction 13 Weeks T-Bills with maturity July 10, 2026. The amount to be auctioned is EUR 400mn.
Source:PDMA

Rural Development Minister Kostas Tsiaras, Civil Protection Minister Ioannis Kefallogiannis, and Deputy Health Minister Dimitris Vartzopoulos have resigned after being named in a European prosecutors’ investigation into the farm subsidies scandal. The probe has increased pressure on Prime Minister Kyriakos Mitsotakis’ conservative government, as the widening controversy continues to shake the administration. In response, Mitsotakis moved quickly to reshuffle his cabinet. Evangelos Tournas, a former deputy minister for climate crisis and civil protection, will replace Kefallogiannis as civil protection minister. Margaritis Schinas, a former vice president of the European Commission, will succeed Tsiaras as rural development minister. Meanwhile, Makarios Lazaridis, a New Democracy representative on the parliamentary investigative committee for OPEKEPE, has been appointed deputy rural development minister, replacing Christos Kellas.
Source: Kathimerini

Macro/Political:

Haris Papacharalambous, the president of the Association of Cyprus Travel and Tourist Agents, told Phileleftheros that while there has been some improvement since the first weeks of the Middle East conflict, the recovery remains slow. He also warned that summer bookings for Cyprus are at very low levels, and travel packages are already being cancelled. He further noted that the island faces a serious tourism problem, which will deepen if current conditions do not change. He also criticized the government’s tourism support measures, pointing out that although agencies were among those affected, no financial assistance has been provided to them.
Source: PhileNews

In January 2026, the Industrial Turnover Index reached 136,1 units recording an increase of 4.1% (y-o-y).
Source: CyStat

Energy Minister Michalis Damianos announced on Friday that the consortium had confirmed, via letter, that the two fields totalling approximately 7 trillion cubic feet, are now considered exploitable. Furthermore, according to the Minister, the Glaucus and Pegasus fields join the Aphrodite and Cronos discoveries in Cyprus’s commercial portfolio. This development strengthens the Republic of Cyprus’s energy assets and aligns with the broader strategy to promote the commercial use of domestic gas reserves after 2030.
Source: PhileNews

President Nikos Christodoulides is expected to meet Turkish Cypriot leader Tufan Erhurman at the residence of the UN Special Representative in Cyprus, Khassim Diagne, this afternoon. During the meeting, the two leaders are expected to present their perspectives on the discussions they held with UN Secretary-General Antonio Guterres, as well as on how the UN views the path toward progress on the Cyprus issue. Yesterday, in a statement, Deputy Government Spokesman Yiannis Antoniou said that Christodoulides intends to attend the meeting with the necessary political will and a constructive approach.
Source: CyprusMail