GREECE
Macro/Political:
- Turkish President Recep Tayyip Erdogan and Greek Prime Minister Kyriakos Mitsotakis are finally set to meet in Ankara on February 11 or 13, but under less auspicious circumstances than their last meeting at the bilateral HLCC in Athens on December 7, 2023. Since then, several attempts to schedule the next HLCC have fallen through, once in 2024 and twice in 2025. As a result, neither side has high expectations for the upcoming meeting, and no breakthrough is anticipated, although both sides are keen to avoid an impasse.
Source: Kathimerini
- According to Eurostat, the seasonally adjusted unemployment rate in December 2025 was 7.5% compared to 9.4% in December 2024, and 8.1% in November 2025.
Source: Eurostat
CYPRUS
Macro/Political:
- President of Cyprus Nikos Christodoulides will meet Turkish Cypriot leader Tufan Erhurman on Tuesday, 24 February, under UN auspices, following arrangements made through the Greek Cypriot negotiator. Government Spokesman Konstantinos Letymbiotis said in a written statement that the meeting forms part of ongoing efforts to maintain channels of communication and to substantively advance the process, with the aim of resuming substantive negotiations from the point at which they were interrupted.
Source: Kathimerini
- The Central Bank of Cyprus (CBC), in its December economic bulletin, noted that Cyprus’ economy continues to demonstrate significant resilience and adaptability. The CBC according to the latest 9M25 data expects that the country’s growth rate in 2025 will be 3.5%. For 2026–2028, growth is expected to average 3% annually, with private consumption as the primary driver. Unemployment is projected to remain stable at 4.5% between 2026-2028, while inflation is expected to decline to 1.7% in 2026, before rising to 2.2% in 2027 and then fall to 1.9% in 2027. Debt to GDP in November of 2025 declined to 56.2% , compared to 65.8% in November of 2024.
Source: CBC
- In January 2026, economic sentiment in Cyprus deteriorated slightly, as the Economic Sentiment Indicator (ESI-CypERC) decline by 0.2 points (m-o-m) to 105.0. This marginal decline was driven by stronger business confidence mainly in the construction sector, and to a lesser extent, in the retail trade and industrial sectors.
Source: UCY
- According to Eurostat, the seasonally adjusted unemployment rate in December 2025 was 4.3% compared to 4.7% in December 2024, and 4.3% in November 2025.
Source: Eurostat
