GREECE
Macro/Political:
- Greek Finance Minister Kyriakos Pierrakakis on Tuesday announced a 30% increase in the annual heating oil benefit to curb the impact of surging energy costs on households. Pierrakakis also stated that “We cannot stop an international energy crisis. However, we can ensure that citizens do not bear the burden alone, and we will stand by them for as long as necessary.” It is important to note that the measures will be further specified today by Energy Minister Stavros Papastavrou and Deputy Finance Minister Thanos Petralias.
Source: Kathimerini
- The US Ambassador to Greece, Kimberly Guilfoyle, has resigned following allegations of unethical conduct. More specifically, US President Donald Trump told reporters yesterday that he did not like what he had read about her and that it would be better for her to resign. It is also important to note that Guilfoyle came under scrutiny following a series of reports by the WSJ, alleging that she had solicited or accepted money, travel and other benefits from private individuals while using, or offering to use, her access to US officials and her diplomatic position to advance their interests. Guilfoyle published a lengthy post on X, denying the allegations and stating, among other things, that while her time as ambassador may be coming to an end, her commitment to the Trump presidency, the America First movement and the country will never end.
Source: Bloomberg
CYPRUS
Macro/Political:
- President Nikos Christodoulides and Turkish Cypriot leader Tufan Erhürman yesterday agreed to attend Saturday’s bicommunal festival jointly in the village of Pyla, in the Larnaca district. Furthermore, according to the UN, yesterday’s meeting was held in a very positive atmosphere, with both leaders looking forward to the upcoming visit of UN Cyprus problem envoy Maria Angela Holguin. The two leaders also agreed to jointly attend forthcoming meetings of the bicommunal technical committees on cultural heritage and youth, as well as the steering committee of the civil society consultative body, before holding another one-on-one meeting next week.
Source: Cyprus Mail
