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Nuclear Powers Spent Record of $119 Billion on Arsenals in 2025, Report Says

10 June 2026 at 14:01
Soldiers use a crane to load a large military missile onto a transport vehicle.
Russian military personnel load a missile onto a transport vehicle. Nuclear powers spent a record of $119 billion on their arsenals in 2025, according to ICAN. Credit: Russian Defence Ministry / EPA / AMNA.

Nuclear powers spent a record of $119 billion on arsenals in 2025, as the world’s nine nuclear-armed states significantly increased their weapons-related expenditure, according to a new report by the International Campaign to Abolish Nuclear Weapons (ICAN).

The figure marks a 19 percent rise from 2024, with nuclear powers spending $17 billion more than the previous year. ICAN warns that the increase reflects a broader trend that is likely to continue for decades. The report covers the United States, Russia, China, the United Kingdom, France, India, Israel, Pakistan, and North Korea.

ICAN warns of a new nuclear arms race

As per the Nobel Peace Prize-winning organization, rising geopolitical tensions are fueling what it describes as a new nuclear arms race. ICAN has also raised concerns over the possible role of artificial intelligence in nuclear decision-making, warning that AI could accelerate the process leading to the potential use of nuclear weapons.

Susie Snyder, ICAN’s program coordinator and one of the report’s authors, described the figures as deeply troubling. Speaking to Agence France-Presse, she declared it’s deeply terrifying.

US spent more than all other nuclear powers combined

The United States remained the world’s largest nuclear spender in 2025, allocating $69.2 billion to its arsenal. That was $12.4 billion more than in 2024 and more than the combined total spent by the other eight nuclear-armed states. China ranked second, with estimated spending of $13.5 billion. The United Kingdom followed with $12.6 billion, while Russia spent $9.5 billion.

According to ICAN, the nine nuclear-armed countries have spent over $470 billion on their arsenals in the past five years.

Long-term nuclear programs could last beyond 2100

The report reveals that nuclear weapons spending is expected to continue rising as countries modernize and maintain their arsenals over time. ICAN points to spending plans in the United States, the United Kingdom, and France that could necessitate billions of dollars through the end of the century. Other nuclear-armed states are also developing weapons systems designed to remain in service for decades.

In the United States, the planned Sentinel intercontinental ballistic missile program is expected to remain operational beyond 2100. Based on the report, expanded US production of plutonium pits could support nuclear warheads until at least 2120. ICAN estimates that the United States alone is expected to spend nearly $1 trillion on its nuclear arsenal between 2025 and 2034.

Report compares record spending by nuclear powers with global needs

The scale of spending, ICAN says, comes as governments face pressing global challenges, including health care, food security, and humanitarian needs. According to Snyder, the amount spent by nuclear-armed states in 2025 would have been enough to fund the United Nations budget dozens of times over. She added that a single day of nuclear weapons spending could have guaranteed food security for two million people last year.

The report argues that nuclear-armed countries are committing public resources to weapons that, according to Snyder, they “could not use without committing a war crime.” ICAN maintains that the latest figures show that nuclear weapons spending is becoming a long-term strategic priority rather than a short-term response to current global tensions.

Greece’s Aging Water Networks Face Losses of More Than 50% in Some Areas

10 June 2026 at 12:37
Lake Marathon Dam in Greece, with a curved stone dam wall, reservoir water, and forested hills in the background.
Lake Marathon Dam in Greece. The country’s aging water networks are facing growing pressure from water loss, drought, and rising investment needs. Credit: Vitaly / Wikimedia Commons / CC BY-SA 3.0

Water loss in parts of Greece’s aging water networks exceeds 50 percent, according to a new analysis by EY-Parthenon, highlighting the urgent need for infrastructure upgrades and a new approach to water management.

The report warns that climate pressures, prolonged drought, declining water reserves, and outdated infrastructure are pushing Greece’s water sector to a critical turning point.

Greece’s water networks are now increasingly viewed as core national infrastructure with direct implications for economic stability, environmental protection, and long-term public planning.

A loss of over 50% in some of Greece’s aging water networks

According to EY-Parthenon, the global strategy consulting arm of Ernst & Young (EY), water losses across Greek networks exceed 30 to 40 percent in many cases, while certain areas face losses of over 50 percent. The high losses reflect aging infrastructure, insufficient maintenance, limited monitoring of water flows and consumption data, and the need for more efficient management systems.

The analysis also notes that water reuse remains extremely limited in Greece, at around two percent. At the same time, irrigation accounts for approximately 85 percent of total water consumption. More than 70 percent of irrigation water comes from underground reserves, which highlights the need for more efficient resource use and a more pronounced shift toward circular water management.

Fragmented water sector faces growing pressure in Greece

EY-Parthenon identifies fragmentation as one of the main weaknesses of Greece’s water management sector. The market includes 129 municipal water and sewage companies, more than 450 irrigation organizations, and a broad network of local authorities. This dispersed operating model makes coordination harder, limits economies of scale, and slows modernization projects.

The challenge becomes more urgent as the sector faces increasing demands related to resilience, governance, service quality, and regulatory compliance. Numerous smaller providers remain under financial pressure, as revenue from water bills often does not fully cover operating costs or support major infrastructure investments.

Greece’s water infrastructure needs reach €10 billion

Although the sector faces serious structural problems, EY-Parthenon sees significant room for investment in Greece’s water market. The country’s medium- and long-term infrastructure needs stand at around €10 billion ($11.5 billion). Meanwhile, Greece’s two largest water companies have planned or ongoing investments that exceed €3 billion ($3.46 billion).

These investments focus on network upgrades, expansion, modernization, and efficiency improvements. According to the report, investor confidence in the sector also continues to rise, as shown by the recent market performance of listed companies operating in the water industry.

New rules could reshape Greece’s aging water networks

Changes in Greece’s regulatory framework could further transform the sector. The expanded role of the Regulatory Authority for Waste, Energy and Water (RAAEY), stricter European obligations on wastewater management, and efforts to reduce fragmentation are shifting reform from discussion to implementation.

These changes create opportunities, but they also impose new requirements on water providers. They call for greater transparency, more rigorous reporting obligations, improved accountability, and more reliable long-term planning. EY-Parthenon emphasizes that the sector’s future challenges are not only technical. They also involve financial sustainability, pricing policies, digital transformation, investment priorities, and cooperation between public and private stakeholders.

Greece Freezes Interest on Thousands of Restructured Household Loans

9 June 2026 at 14:48
Athens, Greece
Greece’s Supreme Court ruling has prompted loan servicers to freeze interest on thousands of restructured household loans pending further legal clarification. Credit: Wikimedia Commons / acediscovery / CC BY 4

Loan servicers are freezing interest charges on thousands of restructured household loans in Greece after a Supreme Court ruling raised questions over how debt repayments should be calculated.

Law 3869/2010, commonly known in Greece as the Katseli Law, covers the loans. The crisis-era framework allowed over-indebted individuals to seek court-supervised debt restructuring. Until the Supreme Court clarifies the legal implications of the ruling, affected borrowers will continue solely paying down the principal with no additional interest charges.

The decision has triggered concern across Greece’s financial sector because it challenges the traditional method for calculating interest on regulated debts. Loan servicers are now reviewing the ruling and plan to seek formal clarification from the Supreme Court before applying a final methodology.

Supreme Court ruling changes interest calculation

Supreme Court Plenary Decision 6/2026 sits at the center of the issue. The court found that lenders should calculate interest on debts restructured under Law 3869/2010 based on the monthly installment set by the court rather than on the total outstanding debt balance.

That interpretation marks a significant departure from standard banking practice. In a conventional repayment schedule, lenders calculate interest on the remaining balance of the loan. At the beginning of repayment, interest usually takes up a larger share of the monthly installment. As the borrower gradually repays principal, the interest portion decreases.

The Supreme Court adopted an alternative approach for loans covered by the debt-relief framework. According to the ruling, calculating interest on the monthly installment better serves the original purpose of the law, which aimed to help over-indebted individuals recover financially and return to economic and social activity.

Borrowers will only pay principal for now

Until the Supreme Court clarifies the ruling, loan servicers plan to suspend interest charges on affected loans. This means borrowers whose debts fall under the crisis-era framework will continue making payments, but those payments will reduce principal rather than cover interest.

Legal representatives for borrowers argue that the court’s interpretation could make many of these loans almost interest-free in practice. Under that view, lenders would divide the total regulated debt by the number of installments ordered by the court and then calculate interest only on that fixed monthly amount.

Some financial-sector representatives, however, interpret the decision differently, saying the ruling necessitates further clarification before servicers can apply a reliable calculation method. A senior source from the loan-servicing sector has reportedly said the industry should not adopt any interpretation before the Supreme Court provides additional guidance. Servicers are therefore preparing to submit a formal request for clarification.

Around 300,000 loans could be affected

Market estimates suggest that the affected framework may cover approximately 300,000 loans, with a total value of about €6 billion ($6.9 billion). Greek banks no longer hold most of these loans directly, after transferring, selling, or securitizing them during the cleanup of the country’s banking system.

Early market estimates place the potential cost for creditors at around €1 billion ($1.15 billion), depending on how the authorities and courts ultimately apply the ruling. The final impact will also depend on whether the decision guides only future calculations or opens the way for claims over interest already paid. That question remains especially sensitive. The ruling does not clearly settle whether it has retroactive effect, leaving borrowers, servicers, funds, and banks waiting for further legal clarity.

Possible impact on Greece’s loan securitizations

The ruling may also affect recoveries from securitized loan portfolios. Many loans covered by the debt-relief framework entered transactions linked to Greece’s “Hercules” asset-protection scheme, which helped banks reduce non-performing loans through state guarantees.

If collections from affected loans fall sharply, financial-sector sources warn that pressure could increase on certain securitizations. In a worst-case scenario, lower-than-expected recoveries could raise concerns over whether the state may eventually need to honor guarantees under the Hercules program.

For now, the extent of the risk remains uncertain. It will depend on the Supreme Court’s final interpretation, the number of loans directly affected, and whether courts or regulators allow any retroactive adjustment of interest already charged.

Broader concerns over Greece’s interest freeze on restructured loans

Banking sources are also monitoring whether the decision could influence borrowers who utilized other restructuring tools, such as Greece’s out-of-court debt settlement mechanism. If other vulnerable borrowers seek similar treatment, the financial consequences could extend beyond loans regulated under Law 3869/2010.

At this stage, the immediate effect applies only to borrowers whose debts fall under the crisis-era framework. However, the case could become an important reference point in future disputes over household debt, creditor recoveries, and the legal limits of debt-relief protection.

Greece to Raise Protected Bank Account Limit to €1,600 for Debtors

9 June 2026 at 14:09
Dionysiou Areopagitou Street and the Acropolis, Athens, Greece
Greece’s new bank account limit will allow debtors to keep up to €1,600 protected from seizures. Credit: Greek Reporter

Greece is set to increase the protected bank account threshold from €1,250 ($1,445) to €1,600 ($1,850), allowing debtors an additional €350 ($405) per month to remain shielded from account seizures. The measure, announced in Parliament by Finance Minister Kyriakos Pierrakakis, is expected to go into effect on July 1. It is part of a wider government initiative aimed at easing financial pressure on households and businesses with outstanding debts.

The current exemption limit has remained unchanged since 2014, when it was introduced during the fiscal crisis. Twelve years on, the government says the revision reflects both rising living costs and the need to update Greece’s debt enforcement system. Pierrakakis noted that the new ceiling marks a 28 percent increase, outpacing cumulative inflation over the same period, which he estimated at 20.8 percent.

How the new protected bank account threshold in Greece will work

The protected bank account limit sets the amount of money a debtor can keep accessible in a designated account, even when seizure procedures are in place. Under the new rules, balances of up to €1,600 ($1,850) in a declared protected account will be exempt from seizures related to debts owed to the state. Each individual is allowed to declare one protected account at a single credit institution through the Independent Authority for Public Revenue (AADE).

In practice, if a debtor has €1,500 ($1,735) in their protected account, the entire amount remains untouched. If the balance increases to €1,900 ($2,198), authorities may only seize the €300 ($347) that exceeds the €1,600 ($1,850) threshold. The measure does not cancel debts or suspend enforcement actions. Instead, it raises the amount individuals can hold onto for everyday expenses and essential financial obligations.

Which debtors in Greece will benefit from the new bank account limit?

The change to Greece’s protected bank account threshold is expected to benefit individuals whose accounts are subject to, or at risk of, seizure due to overdue obligations. This includes salaried employees, pensioners, self-employed professionals, and other taxpayers who need greater protection for funds held in their declared accounts.

More than two million people in Greece currently have outstanding debts to the tax authorities. Of these, around 1.7 million have already been affected by enforcement measures such as account seizures, freezes, or other compulsory collection actions.

For those whose monthly income or deposits exceed the existing €1,250 ($1,445) limit, the increase could offer up to €350 ($405) in additional protected funds each month, easing pressure on everyday finances.

Measure tied to Greece’s private debt strategy

The increase in the protected bank account threshold is part of a broader policy package aimed at tackling private debt. The provision is expected to be included in the government’s upcoming bill on illegal gambling, which is currently under public consultation.

Private debt in Greece stands at 94.5% of GDP, below the European Union average of 121.4%. Authorities say the measure is designed to provide additional relief while maintaining enforcement mechanisms for overdue obligations.

The move comes as Greece continues to report stronger banking sector indicators. Non-performing loans in the country’s banking system have declined sharply to 3.3%, down from 48.5% in 2016. At the same time, debt arrangements totaling €6.8 billion ($7.86 billion) have been completed in 2025, reflecting ongoing efforts to restructure and manage outstanding liabilities across households and businesses.

Bank account seizures could be lifted

The same policy package introduces a separate provision for taxpayers whose bank accounts have already been seized. Under the proposed framework, debtors will be able to request the lifting of a seizure if they pay 25% of the principal debt upfront and agree to a repayment plan for the remaining balance. This option would be available once per debtor and is intended to encourage a return to regular repayments.

The new approach effectively replaces the “gradual protected account system” introduced in 2019, which was never implemented in practice. That model envisaged a step-by-step increase in protected funds for debtors who consistently met repayment obligations, but it was ultimately deemed too complex and remained inactive.

Implementation details still pending for Greece’s new bank account limit

The main outstanding issue is how the new €1,600 ($1,850) threshold will be applied to bank accounts that have already been declared as protected.

Authorities are expected to provide further clarification on the implementation process, including whether existing declarations submitted through AADE will be updated automatically or whether taxpayers will need to take additional steps to maintain or adjust their protected account status under the new regulations.

Greece’s Ombudsman Reports Increased Complaints as Public Service Failures Mount

9 June 2026 at 13:19
Hellenic Parliament, Greece
Hellenic Parliament in Athens. Greece’s Ombudsman reported record complaints over failures across public services. Credit: Wikimedia Commons/ Jebulon / Public Domain

Greece’s Ombudsman, the country’s independent administrative watchdog, received more than 20,000 complaints in a single year for the first time in its history, according to its latest quarterly bulletin, highlighting persistent failures across the country’s public administration.

The Ombudsman reported that the upward trend recorded in 2025 continued during the first four months of 2026 with no sign of slowing down. The figure underscores the strained relationship between citizens, residents, legal entities, and public services in Greece, where bureaucracy remains one of the most persistent sources of public frustration.

The bulletin, which covers January to April 2026, details cases involving social insurance, labor rights, disability certification, digital access to public services, and environmental protection.

Greece’s ombudsman acts on complaints over large family exemption

One notable case involved a large family that lost its exemption from municipal fees after some of its children reached adulthood.

The competent authority had apparently treated the exemption as temporary, although Greek law provides lifetime protection for families with four or more children, a category that carries a specific legal status in Greece. Following the Ombudsman’s intervention, the authority restored the family’s lifetime exemption.

Low-income pensioners asked to repay state errors

The bulletin also refers to the pension agency operating under the legacy structure of the former Agricultural Insurance Organization (OGA), which Greece later absorbed into the unified social security body e-EFKA. The agency attempted to recover money from low-income pensioners in order to correct errors that its own employees had made over several years.

In a separate case, a disabled citizen was expected to go through a prolonged bureaucratic process simply to have a disability assessment issued by the Army’s Supreme Health Committee converted into digital form. The conversion was necessary to obtain Greece’s Digital Disability Card.

Greece’s ombudsman intervenes in labor rights cases

Labor rights also featured prominently in the Ombudsman’s findings. The authority recommended heavy sanctions against a company that unlawfully dismissed a pregnant employee.

It also secured recognition of a 22-day special leave entitlement for two mothers of children with developmental disorders after their public-sector employers had repeatedly refused to grant the leave.

Disabled citizens report conduct of physicians

The bulletin also highlighted a pattern of complaints from disabled citizens regarding the behavior of certain doctors at KEPA, Greece’s disability certification centers, which operate under e-EFKA.

Following the Ombudsman’s intervention, the agency issued instructions for behavioral training and the adoption of a professional code of conduct.

Environmental complaints include noise, flooding, and illegal construction

Environmental issues formed another major area of concern. The Ombudsman criticized the ministries of Health and Development as well as the police over a legislative gap in noise regulation. According to the authority, the gap leaves residents living near open-air concert venues without adequate protection from noise pollution.

In two separate cases, the Ombudsman referred local government inaction to prosecutors. The cases concerned delays in flood prevention projects and the failure to demolish illegal structures in Oropos, in East Attica, and Ikaria, an island in the Eastern Aegean.

In the northwestern region of Thesprotia, the Ombudsman’s intervention also halted the illegal infilling of a stream.

Algal Bloom Once Again Turns Thessaloniki Waterfront Brown

9 June 2026 at 12:17
A view of Thessaloniki’s waterfront and the White Tower along the Thermaikos Gulf.
Thessaloniki waterfront and the White Tower on the Thermaikos Gulf, where algal blooms have triggered environmental concerns. Credit: Flickr / Anders Sandberg/ CC BY NC 2

A large algal bloom, also referred to in Greece as the “Red Tide,” has once again turned the waters of the Thermaikos Gulf along the Thessaloniki waterfront a murky brown, raising environmental concerns in Greece’s second-largest city as warmer weather and favorable winds intensify the phenomenon.

In recent days, large sections of the city’s seafront have been covered by a thick, brownish layer of phytoplankton slime. The bloom has produced unpleasant odors and altered the appearance of one of Thessaloniki’s most recognizable public spaces, affecting areas used daily by both residents and visitors.

Brown algal bloom spreads along Thessaloniki’s seafront

Drone footage highlights the scale of the algal bloom, showing brown waters stretching along Thessaloniki’s seafront from the Concert Hall area toward the city’s historic promenade.

According to local reports, rising temperatures and southerly winds have helped drive the algae toward the shoreline. As a result, the material has accumulated along the coast, forming a continuous layer across the water’s surface in several parts of the gulf.

Στον… τάκο ο Θερμαϊκός (γιατί δεν καθαρίζεται μόνος του) #TheOpinion #theopinionews #Θεσσαλονίκη #thessaloniki #θερμαϊκόςhttps://t.co/pMUNNTUPeo

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Scientists point to eutrophication as cause of Thessaloniki waterfront algal bloom

Scientists attribute the phenomenon to eutrophication, a process driven by excessive concentrations of nutrients such as nitrogen and phosphorus entering the marine environment.

In the case of the Thermaikos Gulf, these nutrients can originate from urban wastewater, river runoff and agricultural fertilizers. Combined with higher sea temperatures, this leads to the creation of ideal conditions for the rapid growth of phytoplankton. This, in turn, can result in dense algal blooms that alter the color of the water and generate strong odors as the organic material begins to decompose.

Thermaikos Gulf remains vulnerable

Environmental experts have repeatedly warned that the Thermaikos Gulf is particularly vulnerable to such episodes due to long-standing pressures linked to urban development, agricultural activity, and climate-related factors.

Similar outbreaks have periodically been recorded in recent years, especially during warmer months, making algal blooms a recurring problem for Thessaloniki and the wider coastal area.

Cleanup operations underway as algal bloom spreads across Thessaloniki

The latest bloom follows earlier signs of eutrophication that have been reported in the Thermaikos Gulf since the beginning of the year.

Authorities have continued cleanup and monitoring efforts, including operations by the anti-pollution vessel Alkippi. The vessel has been deployed to assist in the collection of floating organic material and limit the impact of the bloom on coastal areas.

Long-term measures needed

Experts stress that algal blooms are generally natural biological processes, but they can be intensified by human activity and environmental pressures.

Reducing the frequency and severity of such outbreaks will require long-term measures to improve water quality, limit nutrient inflows, and strengthen environmental management across the wider Axios-Thermaikos Basin.

Greece’s Startup Ecosystem Drops Out of Global Top 50 Despite $12B Valuation

8 June 2026 at 16:08
Aerial view of Athens, Greece
Greece’s startup ecosystem fell to 51st globally in StartupBlink’s 2026 Index, despite an estimated ecosystem value of over $12 billion. Credit: Wikimedia Commons / acediscovery / CC BY 4

Greece has fallen out of the world’s top 50 startup ecosystems, dropping to 51st place in StartupBlink’s Global Startup Ecosystem Index 2026. The country also slipped in Europe, ranking 29th, down from 27th in 2025.

According to the report, this is Greece’s lowest global position since 2022. The decline came despite positive annual ecosystem growth of 4.8 percent. However, that rate was well below the global average, meaning Greece lost ground as other startup ecosystems expanded more rapidly.

StartupBlink’s 2026 index ranks 1,556 cities and 100 countries, using indicators linked to startup quantity, quality, and the wider business environment. For Greece, the findings show a mixed picture: the country has recognizable startup successes, a sizeable ecosystem value, and improving policy tools, but its global momentum has slowed.

Greece’s business conditions are stronger than its startup outcomes

One of the clearest findings is the gap between Greece’s business environment and its overall startup ranking. Greece ranks 33rd among 125 countries in the Innovators Business Environment Index, significantly higher than its 51st position in the main startup ecosystem ranking.

This suggests that Greece has relatively strong underlying conditions for innovators, but these conditions have not yet fully translated into stronger startup ecosystem performance. The report estimates Greece’s startup ecosystem value at $12.1 billion. The country has two unicorns and three cities in the global top 1,000 startup cities.

Athens remains Greece’s dominant startup hub but weighs on national performance

Athens continues to dominate Greece’s startup scene, but its weaker performance was a major reason behind the country’s fall in the global ranking. The Greek capital dropped 17 places to 134th globally, after recording negative growth of 4.8 percent. In the Balkans, Athens also fell one position to third overall.

Despite this decline, Athens remains one of the region’s most mature startup ecosystems. The city leads the Balkans in the Ecosystem Maturity functional category, reflecting its track record in producing startup outcomes. StartupBlink also describes Greece’s level of ecosystem centralization as healthy. Athens scores 7.4 times higher than Thessaloniki, a ratio that points to a strong national hub while still leaving room for secondary cities to grow.

Thessaloniki grows although Heraklion records Greece’s strongest growth

Thessaloniki posted strong annual growth of 29.1 percent but still fell four places to 443rd globally because other cities advanced faster.

Heraklion, however, delivered Greece’s strongest city-level result. The port city of Crete climbed 89 places to 771st worldwide, with annual growth of 64.5 percent. That was the highest growth rate among Greek startup cities in the 2026 index. Heraklion’s performance shows that startup activity outside Athens is becoming increasingly visible even though the capital remains the country’s main innovation center.

Greece’s startup ecosystem ranks fifth in Southern Europe

Greece ranks fifth overall in Southern Europe. It performs slightly better in the Ecosystem Value functional category, where it ranks fourth in the subregion. In the Balkans, Greece ranks third overall, one place lower than last year. However, it performs better in specific sectors, ranking second in the region for both Fintech and Social & Leisure.

These sectoral rankings highlight areas where Greece has a stronger regional position, especially in financial technology and consumer-facing digital services.

Viva Wallet and PeopleCert remain Greece’s startup champions

The report identifies Viva Wallet and PeopleCert as Greece’s main startup ecosystem champions. Both are based in Athens and are privately valued at over $1 billion. Viva Wallet has a StartupBlink score of 570, while PeopleCert has a score of 277.

Viva Wallet became one of Greece’s most important startup success stories after JPMorgan acquired a 48.5 percent stake in the fintech company in 2022 in a deal valued at $2 billion. The transaction confirmed Viva Wallet’s status as Greece’s second unicorn and was described in the report as the country’s largest-ever startup deal.

PeopleCert crossed the $1 billion valuation mark in 2021 after acquiring AXELOS for approximately $525 million.

EquiFund, Elevate Greece, and NBG Business Seeds helped shape ecosystem

StartupBlink also points to several initiatives that have shaped Greece’s startup ecosystem over the past decade and a half. The National Bank of Greece launched NBG Business Seeds in 2010, with the report describing it as the country’s longest-running startup innovation competition.

Six years later, Greece and the European Investment Fund signed EquiFund, a fund-of-funds of approximately $290 million designed to help establish the country’s first professional venture capital market. Another important step came in 2020, when the Greek government launched Elevate Greece, the official national startup registry.

The platform gives startups access to state benefits, investor visibility, angel investor tax incentives, and Golden Visa eligibility. The report also names the National Bank of Greece / NBG Business Seeds, Elevate Greece, and Enterprise Greece as notable startup ecosystem builders.

Enterprise Greece is described as the country’s official investment and trade promotion agency, actively promoting the Greek startup ecosystem to international investors and supporting foreign founders through licensing and strategic investment frameworks.

New tax incentives and startup Golden Visa aim to attract capital

Recent policy developments also form part of the broader picture. In 2025, Greece introduced new tax incentives for angel investors, expanding the deduction cap to approximately $980 million, and launched a startup Golden Visa program. These measures are intended to attract startup investment and entrepreneurial talent.

In 2024, Greece, in partnership with the European Investment Fund, launched the EquiFund II equity mandate, with a focus on life sciences, health, and sustainability. Together, these initiatives indicate that Greece continues to strengthen the financial and policy framework supporting startups, even as its global ranking has declined.

Greece’s main challenge is faster startup ecosystem growth

The StartupBlink 2026 ranking does not depict Greece as a weak startup ecosystem. The country has two major startups valued above $1 billion, a total ecosystem value of $12.1 billion, strong business environment conditions, and clear institutional support.

The core issue is pace. Greece has grown but not quickly enough compared with global competitors. The contraction in Athens had a direct impact on the national ranking, while Thessaloniki and Heraklion demonstrate that regional ecosystems are still in a phase of development.

Greece Records 64 Forest Fires in 48 Hours Amid Heat and Negligence Concerns

8 June 2026 at 13:29
Firefighter battles Greece's forest fires amid thick smoke and extreme heat.
A firefighter tackles forest fires in Greece as rising temperatures heightened risk. Credit: Vasilis Psomas / AMNA.

According to Greece’s Fire Service on Monday, sixty-four forest fires broke out across the country in the last two days, as rising temperatures heightened fire risk, with officials attributing most incidents to negligence during outdoor work and other activities.

Early assessments suggest that human carelessness is the primary cause in most cases. Specialized investigative units are currently examining each incident to establish the exact cause and determine responsibility where appropriate.

Heat and negligence heighten risk of forest fires across Greece

Officials said recent high temperatures have increased the risk of ignition and allowed fires to spread more rapidly. However, firefighting forces managed to bring most blazes under control at an early stage through rapid intervention.

The Hellenic Fire Service noted that the swift response prevented the fires from reaching populated areas, highlighting the importance of immediate mobilization in the critical moments after a fire breaks out.

The warning comes as Greece enters a particularly dangerous period for forest fire activity, when dry vegetation, rising temperatures, and local winds can quickly turn even a small spark into a fast-moving blaze.

Hundreds of fines and dozens of arrests since January

Authorities have stepped up enforcement of fire prevention regulations since the beginning of the year. From January 1 through June 7, they imposed 402 administrative fines across Greece, totaling around €383,395 ($442,500). During the same period, authorities made seventy-one arrests as called for under procedures for violations of fire prevention legislation.

The figures reflect a broader effort to discourage risky behavior before it leads to larger fires, particularly during periods when weather conditions make the natural environment more vulnerable.

Fire service urges public to avoid risky outdoor activity

The Fire Service has called on citizens to exercise extreme caution during outdoor activities, particularly those involving sparks, flames, machinery, burning materials, or labor near dry grass and forested areas.

Officials emphasized that most forest fires can be prevented by adhering to basic safety rules and avoiding actions that could ignite a blaze. “Attention from everyone is crucial for protecting human life, property, and the natural environment,” Greek authorities said.

Greece braces for forest fires as summer heat intensifies with expanded resources

The latest warning comes as Greece enters the wildfire season with a significantly reinforced firefighting plan designed to address increasingly intense and unpredictable summer blazes across the country. On the ground, the Hellenic Fire Service currently counts 17,727 permanent and seasonal firefighters, with the force expected to rise to 18,804 by the end of the year. More than 4,300 vehicles support this expanded manpower, enabling faster deployment and tactical assistance to regional units across both mainland and island areas.

Specialized forest commando units are expected to play a central role in this year’s strategy. These teams are trained to operate in challenging and inaccessible terrain where conventional firefighting forces may struggle to intervene quickly. The elite corps now consists of twenty-one units with 1,450 personnel, marking a sharp expansion compared to 2022, when the program began with just six units.

Greece has also strengthened its aerial firefighting capacity, with eighty to eighty-five aircraft expected to be available daily during the high-risk season, including thirty-three state-owned aircraft and fifty-one leased planes. These resources are intended to support rapid aerial containment, particularly in the critical early stages of a forest fire.

Authorities are increasingly relying on technology as well, including an expanded drone fleet, to improve surveillance and early detection in vulnerable areas. The goal is to identify smoke, heat signatures, or suspicious activity before fires spread, allowing Civil Protection and fire services to coordinate a faster response.

Los Angeles Greek Film Festival Marks 20th Edition With Orpheus Awards in Hollywood

5 June 2026 at 18:29
Guests and honorees pose on the red carpet at the 20th Los Angeles Greek Film Festival Closing Night in Hollywood.
Guests and honorees gather on the red carpet during the 20th Los Angeles Greek Film Festival Closing Night and Orpheus Awards Ceremony at the Egyptian Theatre in Hollywood. Photo: UrbaniteLA

The Los Angeles Greek Film Festival marked its 20th edition in Hollywood with the Orpheus Awards Ceremony, honoring Greek and Cypriot filmmakers and paying tribute to Oscar-winning composer Alexandre Desplat.

The festival’s Closing Night Film and Orpheus Awards Ceremony took place on May 31 at the Egyptian Theatre, in collaboration with the American Cinematheque. This year’s edition brought together filmmakers, artists, industry professionals, and supporters of Greek cinema for a week of screenings, red carpet events, tributes, and awards. The festival’s virtual film program continues through June 14.

Founded in 2007, LAGFF has grown into one of the most important platforms for Greek and Cypriot cinema outside Greece. Over the past two decades, it has screened more than 800 films, hosted over 700 filmmakers, and reached an audience of more than 50,000.

Alexandre Desplat honored at closing night

One of the evening’s major highlights was the presentation of the Honorary Orpheus Award to Alexandre Desplat, one of the most acclaimed film composers working today.

Desplat, who won Academy Awards for his scores for The Grand Budapest Hotel and The Shape of Water, received the honor for his contribution to contemporary cinema. Filmmaker Malcolm Washington presented the award during the Closing Night ceremony, while Fay Lellios produced the tribute.

The evening also included a remembrance tribute to George Kolovos of G.P. Kolovos & Associates, a longtime benefactor of the Los Angeles Greek Film Festival.

“The 20th celebratory edition of LAGFF left indelible memories,” said Aristotle Katopodis, Artistic and Festival Director of LAGFF. “Feting Alexandre Desplat, remembering Dean Tavoularis, and paying respects to our 20-year-long benefactors, the Kolovos family, are images deeply etched in our hearts and souls.”

Katopodis also congratulated the filmmakers whose work was celebrated this year and thanked the festival’s supporters, sponsors, and team for championing Greek cinema.

Alexandre Desplat and Solre Desplat on the red carpet at the 20th Los Angeles Greek Film Festival in Hollywood.
Oscar-winning composer Alexandre Desplat and Solre Desplat attend the 20th Los Angeles Greek Film Festival Closing Night and Orpheus Awards Ceremony in Hollywood. Photo: UrbaniteLA

Hold onto me wins best feature film

The Closing Night Film, Hold Onto Me, directed by Myrsini Aristidou, won the Orpheus Award for Best Feature Film.

The film, which previously won the World Cinema Audience Award at Sundance, was one of the leading titles of this year’s festival. Following the screening, actor Michael Grant hosted a Q&A with Aristidou.

KNX Radio’s Vivianne Linou hosted the Orpheus Awards Ceremony.

2026 orpheus awards winners announced by the Los Angeles Greek film festival

In the animation category, Dream by Semiramis Mamata won the Orpheus Award for Best Animation Film. The Special Jury Award for Animation Film went to Poppy Flowers by Evridiki Papaiakovou.

The Orpheus Award for Best Short Film went to Prelude to a Supernova by Christos Artemiou, while the Special Jury Award for Short Film went to Gekas by Dimitris Moutsiakas.

In the feature film categories, Hold Onto Me by Myrsini Aristidou won Best Feature Film. Krysianna Papadakis and Stergios Dinopoulos received the Orpheus Award for Best Director for Bearcave, while Amerissa Basta received the Special Jury Award for Best Director for Life in a Beat.

The Orpheus Award for Best Performance went to Denise Fraga for Dreaming of Lions. Niovi Charalampous received the Special Jury Award for Best Performance for Smaragda – I Got Thick Skin and I Can’t Jump, while Vangelis Mourikis earned an honorable mention for Patty Is Such a Girly Name.

Audience awards and social justice honors

The Audience Award for Feature Film went to Best Friends Forever by Konstantinos Mousoulis. The Audience Award for Short Film went to The Smoker by Alexa Economacos.

The festival also presented its Social Justice Awards in partnership with Loyola Marymount University’s Bellarmine College of Liberal Arts, Department of Classics and Archaeology.

The Social Justice Award for Short Film went to The Wolves Return by Stelios Moraitidis, while the Social Justice Award for Feature Film went to Maysoon by Nancy Biniadaki.

Award presenters included animator Aliki Theofilopoulos, actor and author Patricia Kara, music composer George Kallis, and film distributor Bill Vergos.

The jury panel included Leo Behrens, Nora Bernard, Karen Cifarelli, Cheng Guo, Harrison James, Chieh-Chih Liao, Eric Nazarian, and Irene Soriano Saxon.

Alexandre Desplat and LAGFF Artistic Director Aristotle Katopodis at the 20th Los Angeles Greek Film Festival in Hollywood.
Honorary Orpheus Award recipient Alexandre Desplat with LAGFF Artistic and Festival Director Aristotle Katopodis at the 20th Los Angeles Greek Film Festival Closing Night in Hollywood. Photo: UrbaniteLA

Los Angeles Greek film festival celebrates orpheus awards at the Egyptian theatre

This year’s Closing Night continued LAGFF’s collaboration with the Egyptian Theatre, Netflix, and the American Cinematheque.

The Egyptian Theatre, one of Hollywood’s most historic movie palaces, opened in 1922 and helped shape the early history of film premieres in Los Angeles. Restored through a partnership between Netflix and the American Cinematheque, the venue now combines its historic character with modern projection capabilities.

For LAGFF, the setting offered a symbolic backdrop for a festival that has spent two decades connecting Greek and Cypriot cinema with the wider Los Angeles film community.

Greece’s Property Market Turns to Older Homes Amid New Housing Shortage

5 June 2026 at 14:51
Panoramic view of Athens from above, with the Acropolis visible in the center and dense urban housing stretching toward the sea.
A general view of Athens, where older residential properties continue to dominate Greece’s housing market. Credit: Wikimedia Commons / Dimboukas / CC BY-SA 3.0.

More than seven in ten property purchases in Greece in 2025 involved residential homes, with three-quarters of those sales concerning buildings over twenty years old, underscoring the country’s persistent shortage of new housing. The figures point to a structural imbalance in the Greek real estate market in which limited construction in recent years has failed to keep pace with demand.

As a result, buyers continue to turn to older properties, particularly in the country’s largest urban centers. Residential properties accounted for 74.8 percent of all property sales in 2025. Plots of land followed at 14.3 percent, agricultural land at 5.8 percent, and commercial properties at 5.1 percent.

The data comes from REMAX Greece, a real estate network, and is based on thousands of completed transactions recorded through its ninety offices and more than 1,200 agents nationwide.

Three-quarters of homes sold were over 20 years old

Homes more than twenty years old represented 75.6 percent of residential property sales across Greece. Newly-built homes, defined as properties up to five years old, accounted for just 12.3 percent of sales.

Properties aged six to ten years represented only 0.3 percent of transactions, while homes aged 11 to 15 years accounted for 2 percent. Properties aged 16 to 20 years made up 9.8 percent of residential sales.

The dominance of older housing reflects the limited availability of newer homes in the Greek market. Where newly built properties are available, however, they remain highly attractive to buyers because they offer modern energy efficiency standards and better meet contemporary living needs.

Athens reflects national trend

In Attica (Greater Athens), residential properties accounted for 85.3 percent of sales. Commercial properties and land plots each represented 7.2 percent.

Older housing stock was even more dominant in the capital region. Homes more than twenty years old made up 86.2 percent of residential sales in Attica, while newly built properties up to five years old represented only 3.3 percent.

Land purchases also gained ground in Attica. Plots and agricultural land combined rose by 1.8 percent year-on-year, indicating growing buyer interest in development opportunities amid the shortage of available modern housing.

Older homes drive Greece’s property market in Thessaloniki

A similar picture emerged in Thessaloniki, where residential properties represented 87.4 percent of total sales. Commercial properties followed at 8.7 percent. As in Athens, older homes dominated the market. Properties more than twenty years old accounted for 87 percent of residential sales in Thessaloniki, while newly-built homes represented just two percent.

The figures underline the depth of Greece’s housing supply challenge. Demand for residential property remains strong, but the limited availability of newly built homes continues to push buyers toward older stock across the country’s largest real estate markets.

Greek Drivers’ Risky Habits Expose Greece’s Road Safety Crisis

5 June 2026 at 14:07
Someone driving a vehicle on the open road
Greek drivers’ risky habits, including phone use, fatigue, alcohol-related driving, and low seatbelt use, are fueling Greece’s road safety crisis. Credit: Flickr / Gina Collecchia / CC BY NC ND 2-0

Greek drivers display some of the most dangerous road behavior in Europe, with new findings showing that risky habits such as phone use, fatigue, alcohol-related driving, and low seatbelt compliance remain widespread among motorists, especially younger drivers.

According to the 16th Responsible Driving Barometer released by the VINCI Autoroutes Foundation, 66 percent of Greek drivers say they use their phones while driving, 41 percent admit to driving while severely fatigued, and 10 percent say they have driven after consuming alcohol.

Despite these behaviors, 97 percent of Greek drivers describe their own driving in positive terms. The contrast suggests that many motorists underestimate the risks they take behind the wheel, even when those risks are among the leading causes of serious crashes.

The survey, conducted by Ipsos BVA, polled 12,100 people across 11 European countries and highlighted a troubling gap between how Greek drivers see themselves and how they actually behave on the road.

Young drivers raise particular concern

The survey also points to alarming habits among younger drivers in Greece. Among those  aged 16 to 24, 48 percent say they drive without wearing a seatbelt, while 16 percent admit they occasionally drive under the influence of alcohol.

These figures indicate that road safety remains a serious cultural issue, particularly among younger motorists who may be more likely to normalize dangerous behavior such as not wearing a seatbelt, using a phone, or driving after drinking.

Road deaths show scale of Greece’s safety issue

The survey findings come at a time when Greece is also ranked among Europe’s five most dangerous countries for driving, according to data from the European Transport Safety Council.

Greece recorded 62 road deaths per one million residents in 2024, up from 60 per one million in 2023. While the increase may appear insginificant, it points to a wider road safety problem at a time when several other European countries are making progress in reducing traffic fatalities.

In the 2024 rankings, Greece placed fifth among the most dangerous European countries for road users. Serbia topped the list with 78 deaths per one million residents, followed by Romania with 77, Bulgaria with 74, Croatia with 64, and Greece with 62.

Greece has not historically been at the very top of Europe’s road-death rankings, but its current position shows that road safety remains a persistent national challenge. The country’s performance is also concerning because Croatia, which remains just above Greece in the ranking, has shown signs of improvement.

AI cameras reveal Greek drivers’ risky habits in Athens

Recent data from AI-powered traffic cameras in Athens adds further evidence that risky driving behavior remains widespread.

Eight pilot AI traffic cameras installed in the Greater Athens area have already recorded thousands of serious violations. In roughly one month, four of the cameras detected 39,543 major offenses, including running red lights, using a mobile phone while driving, and exceeding speed limits.

The violations were recorded at some of Athens’ busiest locations, including Syntagma Square and Syngrou Avenue. Separate data showed that on Syngrou Avenue alone, more than ten thousand violations related to seatbelt use and mobile phones were recorded between December 25 and January 28, along with more than 1,500 speeding violations.

Thousands of Albanians Protest Jared Kushner-Linked Coastal Resort Project

5 June 2026 at 12:33
Albanians and police officers face each other during a protest in Tirana over a proposed coastal resort development.
Albanians clash with police during a protest in Tirana against a Jared Kushner-linked resort project in a protected coastal area. Credit: Malton Dibra/EPA/AMNA

Albanians have joined a growing wave of protests against a major coastal resort project linked to Jared Kushner’s investment firm, Affinity Partners. The demonstrations began near the proposed development site in Zvernec, close to the protected Vjosa-Narta coastal area, before spreading to the capital, Tirana, where protests continued for several days.

Chanting “cancel the project” and carrying banners reading “Albania is not for sale,” demonstrators demanded that the government block the resort plans. The project includes luxury tourism development on the uninhabited island of Sazan and in the Vjosa-Narta protected landscape, a wetland area near the southern community of Zvernec. The region is known for its biodiversity and is home to flamingos, seals, and sea turtle nesting sites.

Environmental groups, local residents, and civil society activists say the development could cause irreversible damage to one of Albania’s most sensitive coastal ecosystems. They have also raised concerns over transparency, land ownership, and possible corruption.

Albanians protest coastal resort after beach access blocked

The latest wave of demonstrations began after fencing and barbed wire appeared near the proposed development area, blocking access to the beach. Residents and environmental activists gathered in Zvernec, where tensions escalated.

Private security guards reportedly attacked and injured several protesters during the gathering. Following the incident, authorities suspended several police officers and revoked the licenses of two private security companies.

The unrest then moved to Tirana, where protesters rallied outside government buildings, including the office of Prime Minister Edi Rama. Demonstrators used inflatable flamingos as a symbol of the protected wetland and held signs reading “Nation is not for sale” and “I don’t want Albania like Dubai.”

Anti-corruption prosecutors open inquiry

The protests intensified after Albania’s Special Prosecutor’s Office against Corruption and Organized Crime (SPAK) opened an inquiry into issues surrounding land titles, sales to investors, and changes affecting the protected status of the area. It has not been confirmed whether the land surrounded by barbed wire has been purchased by Affinity Partners.

Kushner first presented plans for development projects in Albania two years ago. According to those plans, Sazan, a former secret communist-era military base, would be transformed into a luxury tourist destination. The development has been estimated at around €1.4-1.6 billion ($1.62-1.86 billion). Luxury hotels were also planned for Zvernec, near the Vjosa-Narta protected area.

Albanians holding flags and banners during a protest in Tirana against a coastal resort project linked to Jared Kushner.
Albanians protest in Tirana against a Jared Kushner-linked coastal resort project near the protected Vjosa-Narta wetland. Credit: Malton Dibra/EPA/AMNA

Environmental groups warn of serious damage

In January, around forty environmental organizations called for the suspension of the resort plans, warning that the project could threaten biodiversity in a coastal zone of major ecological significance. “We want all construction to halt and heavy machines out of the protected area,” said Joni Vorpsi, an ecologist with PPNEA-BirdLife Albania. “This would be a new city with around 10,000 rooms and it will completely destroy that wild region.”

Environmentalists argue that the scale of the project is incompatible with the protected status of the area. They say the development could disrupt bird migration routes, damage habitats, and permanently alter a largely undeveloped stretch of coastline.

Albanians protest as Rama rejects calls to halt coastal resort project

Prime Minister Edi Rama invited protesters to choose a delegation of about twenty people to discuss possible solutions, but the protesters rejected the proposal. Rama has publicly defended the investment, arguing that Albania must remain open and fair toward foreign investors.

“It is very important that we remain welcoming, that we remain fair, and that under no circumstances do we receive the stigma of being a country where investors are met with hostility,” Rama said in a statement shared with Reuters. “There is absolutely no chance that the investment will stop as long as I am here.” His comments have further angered opponents of the project, who say the issue is not hostility toward investment but the protection of public land, natural heritage, and the rule of law.

Ancient Wall in Greece Collapses Into Family’s Yard, Trapping Them Between Safety and Heritage Rules

5 June 2026 at 01:20
Panoramic view of Veria, Greece
Panoramic view of Veria, Greece, where part of an ancient wall recently collapsed into a private yard near the Archaeological Museum. Credit: Zisis Tsampalis / Wikimedia Commons / CC BY-SA 3.0

A section of an ancient wall in Veria, northern Greece, collapsed into the backyard of a private home, raising safety concerns for residents and triggering a dispute between local authorities over who must remove the fallen stones.

The incident occurred near the Archaeological Museum of Veria, in Central Macedonia, where parts of the city’s historic fortifications still stand close to residential properties. Large stones from the wall fell into the yard, where children reportedly play, leaving the family worried about further collapses, especially during heavy rainfall.

Residents say the problem has not only created a physical hazard but has also exposed a familiar challenge in Greece: the difficulty of managing ancient heritage when it intersects with everyday life.

Homeowner caught between heritage rules and safety risks

The homeowner told local broadcaster MEGA that he has become caught in a bureaucratic dispute between the Ephorate of Antiquities and the Municipality of Veria.

The homeowner said the Ephorate of Antiquities treats the wall as a monument under its authority, while the municipality argues the fallen stones are now debris on private property.

However, he says officials told him they do not have enough workers to remove the fallen stones. Meanwhile, the municipality reportedly argues that once the stones landed inside private property, they became rubble and therefore the homeowner’s responsibility.

The homeowner says this leaves him in an impossible position. On the one hand, authorities allegedly told him to arrange the cleanup himself. On the other hand, he says he received instructions not to touch the stones because they form part of an ancient monument and may be needed for future restoration work.

As a result, the family fears that moving the material could expose them to accusations of mishandling antiquities. For now, residents say the authorities have placed two containers at the site, but they have not delivered a permanent solution.

Βέροια: Κατέρρευσε τμήμα αρχαίου τείχους στην αυλή του#ingr #news #βεροια pic.twitter.com/qL3s3A4AZY

— in.gr/news (@in_gr) June 4, 2026

Ancient stones, modern bureaucracy

The collapse has sparked frustration in Veria because it highlights the tension between heritage protection and public safety. Greece’s archaeological landscape often overlaps with homes, roads, and modern infrastructure, especially in cities with continuous habitation from antiquity to the present day.

Veria is one such city. Located in Central Macedonia, it has deep historical roots and played an important role in ancient, Roman, Byzantine, and Ottoman periods. According to the Ephorate of Antiquities of Imathia, evidence suggests that Veria acquired a city wall and a basic urban plan around the second half of the 4th century BC.

That historical depth gives the city much of its cultural value. However, it also creates practical responsibilities. When ancient remains stand beside private homes, any damage or deterioration can quickly turn into a matter of both archaeology and civil protection.

Residents in Veria, Greece urge action after ancient wall collapse

Residents have urged the competent authorities to intervene quickly, warning that more sections of the wall could collapse. Their main concern remains the safety of children and families who live next to the site.

The case now raises broader questions about how local and national authorities should coordinate when protected monuments create risks in residential areas. While the stones may hold archaeological value, residents argue that the authorities must act before the situation causes an injury.

EU Review Raises Red Flags Over Greece’s Tax System

4 June 2026 at 23:13
European Commission, Brussels
Brussel’s new review points to Greece’s tax exemptions, VAT gap, energy taxation and aging vehicle fleet as issues linked to future fiscal and green policy debates. Credit: EmDee / CC BY-SA 4.0 / Wikimedia Commons

Brussels has placed Greece’s tax system back under scrutiny, highlighting tax exemptions, the VAT gap and diesel policy in the European Commission’s latest review of the country.

The review does not introduce binding measures and does not amount to a formal directive. However, it shows where the Commission sees structural weaknesses in Greece’s tax framework and where future policy changes could be considered.

While the Commission acknowledges Greece’s strong fiscal performance, it also points to areas that continue to affect public revenue, tax fairness and the country’s green transition. These include the large number of tax exemptions, the structure of energy taxation, the favorable treatment of diesel compared with gasoline and electricity, and the environmental pressure created by Greece’s aging vehicle fleet.

Greece’s tax expenditures cost €22.88 billion

A central issue in the Commission’s assessment is the scale of Greece’s tax expenditures. These include exemptions, reductions and special tax treatments that reduce state revenue.

According to the review, Greece had 1,236 tax expenditures in 2024, with an estimated fiscal cost of €22.88 billion ($26,5 billion). The most important categories include exemptions for first homes, rental-related tax benefits, personal income tax, corporate taxation, reduced VAT rates and excise duties.

The Commission notes that Greece does not have an official mechanism to regularly evaluate whether these tax benefits are effective. By comparing both their number and cost with other EU countries, Brussels suggests that Greece could benefit from a more systematic review and rationalization of its tax exemptions.

VAT gap remains a persistent weakness

VAT is another major area highlighted in the review. Although Greece has improved tax compliance, the Commission stresses that exemptions and reduced rates continue to weigh on revenue collection.

The VAT gap reached €9.4 billion in 2023, equal to 18.3 percent of potential VAT revenue. The Commission recognizes that the compliance gap has narrowed significantly, but it says progress has not been even across the economy.

The review points to exemptions that complicate the functioning of the VAT system, including those related to private education and financial services. It does not propose an immediate specific measure, but its wording leaves open the possibility of future restructuring.

Self-employed workers remain under scrutiny

The Commission also refers to persistent tax evasion in personal income tax, especially among self-employed workers and sectors where cash transactions remain common.

The issue is particularly visible in technical trades and services provided outside fixed business premises, where payments may be made directly and with limited electronic recording.

Although the Commission does not explicitly recommend a new measure in this area, its assessment suggests that existing tools aimed at addressing underreported income among freelancers and self-employed professionals are unlikely to be withdrawn soon.

Brussels review says Greece’s energy taxation sends mixed signals

Energy taxation receives some of the sharpest comments in the review. The Commission says Greece remains heavily dependent on fossil fuels, while electricity prices are higher than the EU average, partly because of the country’s reliance on natural gas.

The review argues that Greece’s current energy tax structure continues to favor fossil fuels over electricity, sending mixed price signals at a time when the EU is pushing for faster decarbonization.

Diesel is central to this concern. The Commission views the lower tax burden on diesel as a distortion, especially because diesel remains a key fuel for production and road transport in Greece.

The issue is politically sensitive. During the energy crisis, the Greek government supported diesel prices, with the impact estimated at an additional 15 to 20 cents per liter, in an effort to prevent further price increases. At the same time, public debate in Greece continues to include demands for deeper fuel tax cuts.

Diesel policy comes into focus

The Commission takes a clear position on diesel compared with gasoline and electricity. It notes that excise duties on diesel remain particularly low compared with gasoline, even though diesel is considered more harmful to the environment.

This does not mean that a diesel tax increase has been announced. The remarks form part of a broader review and recommendation process. Still, they indicate the direction of EU policy as the green transition becomes more central to national fiscal planning.

Over the next five years, the EU’s green transition agenda is expected to push member states toward measures such as higher excise duties on diesel, closer alignment between diesel and gasoline taxation, and vehicle taxes more closely linked to emissions.

Other possible policy tools include incentives for electric vehicles, purchase subsidies, tax deductions and changes to registration taxes designed to favor cleaner cars.

Greece’s aging vehicle fleet draws attention in Brussels review

Vehicles are also part of the Commission’s assessment. The review notes that Greece has one of the oldest vehicle fleets in Europe, a factor that contributes to higher emissions and increases the need for policy intervention.

For Brussels, the issue is not only fiscal. Tax policy is also seen as a tool for influencing consumer behavior, encouraging the replacement of older vehicles and supporting the transition to cleaner transport.

The review therefore opens a wider debate over how Greece should balance fiscal stability, household costs, business needs and EU climate goals.

For now, no binding measures have been imposed. But the Commission’s review makes clear that Greece’s tax exemptions, VAT gap and diesel policy are likely to remain under European scrutiny.

Elon Musk Fuels Odyssey Casting Debate With AI Trailer Featuring All-White Greek Heroes

4 June 2026 at 21:58
A bronze ancient Greek-style warrior helmet with a red plume lies on a battlefield, with spears, shields, smoke, and armies in the background.
AI-generated Iliad trailer shared by Elon Musk on X amid debate over Christopher Nolan’s The Odyssey. Credit: Screenshot / Elon Musk’s official twitter account

Elon Musk has entered the controversy surrounding Christopher Nolan’s upcoming The Odyssey by sharing an AI-generated trailer featuring an all-white cast of ancient Greek heroes.

Musk posted the video on X on Thursday, June 4, as debate continues over Nolan’s decision to cast Lupita Nyong’o as Helen of Troy in The Odyssey. Musk, who has already criticized the casting online, introduced the clip as an “Iliad (Troy) trailer made by Grok Imagine 1.5,” referring to the video-generation model developed by his artificial intelligence company xAI.

The 40-second trailer quickly went viral and drew more than 18.4 million views, according to the original Greek report. Although Musk did not explicitly mention Nolan’s film in the post, the timing and visual choices linked the clip to the wider argument over how ancient Greek figures should appear on screen.

An AI version of Homer’s world

The trailer presents a dramatic version of the Trojan War, with burning cities, warships, battlefield speeches, emotional close-ups, and large-scale combat scenes. Its visual style closely resembles a Hollywood historical epic. However, AI tools produced the video rather than a traditional studio production.

The choice of The Iliad also matters. Homer’s Iliad and Odyssey are two of the foundational works of ancient Greek literature. The Iliad centers on the Trojan War, while The Odyssey follows Odysseus on his long journey home after the fall of Troy.

That connection made Musk’s post look less like a random AI experiment and more like a response to the current debate around Nolan’s film. By using AI to create his own vision of the Trojan War, Musk placed himself directly inside a cultural dispute involving Greek mythology, Hollywood casting, and the future of filmmaking.

Iliad (Troy) trailer made by Grok Imagine 1.5, which was just released pic.twitter.com/o0zITVlvpn

— Elon Musk (@elonmusk) June 4, 2026

The Helen of Troy debate

Nolan’s The Odyssey is scheduled for release on July 17, 2026. The film stars Matt Damon as Odysseus and Anne Hathaway as Penelope. Its cast also includes Tom Holland, Zendaya, Robert Pattinson, Charlize Theron, and Lupita Nyong’o.

Much of the online backlash has focused on Nyong’o’s role as Helen of Troy. Critics of the casting argue that Helen, one of the most famous figures of Greek mythology, should reflect the traditional image associated with the character.

Supporters of the film, however, say Homeric myth is not documentary history. They argue that artists have reinterpreted the epics for centuries through theater, literature, painting, and cinema. Nyong’o has also addressed the criticism, saying the film’s cast reflects the world and emphasizing that the story belongs to mythology rather than historical reconstruction.

Musk’s AI trailer now adds another layer to the dispute. The clip does not simply promote artificial intelligence as a filmmaking tool. Instead, it presents an alternative visual version of the Homeric world at the exact moment when Hollywood’s version is under scrutiny.

Was very fun to try out the latest 1.5 Grok Imagine model for this one! https://t.co/x5OwuhySyH

— Heavy Pulp (@heavypulp) June 3, 2026

Elon Musk turns AI Iliad trailer into a cultural statement

After Musk posted the trailer, the creative studio Heavy Pulp, which worked on the project, said it had enjoyed making it. Musk then asked whether the team wanted to make a full-length film. Heavy Pulp replied that it was already in.

That exchange helped transform the video from a short viral experiment into a possible challenge to Hollywood. Musk appeared to test whether AI could generate not only trailers, but also full-scale mythological films outside the traditional studio system.

The response online came quickly. Many users praised the trailer’s cinematic look and argued that it showed how fast AI video tools are improving. Others viewed the clip as a direct provocation toward Hollywood, especially because it appeared during a high-profile debate over representation in a film based on Greek mythology.

@starchannelnews

Νέο διαδικτυακό θόρυβο προκαλεί ο Ίλον Μασκ, ο οποίος επανέρχεται στη δημόσια συζήτηση γύρω από τις επιλογές casting στην πολυαναμενόμενη κινηματογραφική μεταφορά της Οδύσσειας από τον Κρίστοφερ Νόλαν. Με αφορμή τη συζήτηση που έχει ανοίξει για τον ρόλο της Ωραίας Ελένης, ο Μασκ ανάρτησε στο Χ ένα βίντεο που παρουσιάζεται ως AI trailer της Ιλιάδας, με όλους τους πρωταγωνιστές να απεικονίζονται ως λευκοί ηθοποιοί. Η Βαλεντίνα Καραγεωργίου είναι μαζί μας με όλες τις λεπτομέρειες και τις αντιδράσεις που έχει προκαλέσει η νέα παρέμβαση του Ίλον Μασκ. #starchannelnews #tiktokgreece #newsgr

♬ original sound – Star News_official – Star News_official

Free Camping in Greece: Tourists Face €300 Fines and Possible Arrest

4 June 2026 at 19:01
Tents set up for free camping on Falasarna beach in Crete, Greece.
Tents are seen on Falasarna beach in Crete. Free camping outside organized sites remains illegal in Greece and can lead to fines and criminal penalties. Credit: Flickr / Sergio Alvarez / CC BY NC SA 2

As the summer season begins, Greek authorities are stepping up checks on free camping, a practice that remains illegal outside organized sites and continues to spark debate across Greece.

For many travelers, pitching a tent near the sea is seen as an affordable and alternative way to enjoy the holidays, especially as the cost of living continues to put pressure on households. In Greece, however, camping outside licensed facilities remains prohibited and can lead to fines, criminal proceedings, and even jail time.

Free camping remains illegal outside organized sites in Greece

Under Law 392/1976, the installation of tents, the parking of caravans for overnight stays, and camping in general are banned on beaches, in forests, near archaeological sites, and in other public areas that are not officially designated for that purpose.

Greek law allows camping only in organized and licensed facilities, such as official campsites. Those who violate the rules may face administrative fines, while in certain cases authorities can also initiate criminal procedures, including arrest under the fast-track process.

A notable case occurred last summer at Thapsa beach in Evia, where the presence of hundreds of tents sparked strong reactions and led to intervention by local authorities. Campers were removed from the area, while surveillance and inspections were increased.

Fines reaches €300 per person, tent, or vehicle

Under the current rules, those caught free camping in Greece face an administrative fine of €300 ($348) per person, tent, or vehicle.

In more serious cases, offenders may also face criminal penalties. These can include imprisonment of up to six months or a court-imposed financial penalty. The total fine imposed by the courts can reach up to €3,000 ($3,488).

Skiathos arrests renew the debate

The issue resurfaced this week after authorities arrested two men for allegedly free camping on a beach in Skiathos on Monday afternoon.

According to local reports, the case drew further criticism because the campers had allegedly left waste in the surrounding area, showing disregard for other beachgoers and the local environment.

Similar incidents are reported from time to time across Greece, especially in areas where free camping has long been tolerated informally. In some destinations, a decades-old practice and an unofficial understanding between campers, local authorities, and local stakeholders have often existed alongside a legal framework that strictly prohibits the activity.

Supporters point to affordable and alternative tourism

Supporters of free camping argue that it offers a closer connection with nature and gives people a cheaper way to travel at a time when accommodation and holiday costs have risen sharply.

They also point to examples from other European countries, where more flexible systems allow responsible camping in open, non-organized spaces under specific conditions. According to this view, Greece could adopt a more regulated model that permits free camping in selected areas, provided strict environmental rules are followed.

Authorities warn of environmental risks from free camping in Greece

Authorities and environmental organizations, however, argue that uncontrolled camping can put serious pressure on natural areas.

Their concerns include the accumulation of waste, damage to sensitive ecosystems, and an increased risk of fires, especially during the summer months when Greece faces high temperatures and dry conditions.

They also note that the absence of organized infrastructure makes it difficult to manage large numbers of visitors in protected or remote areas. The lack of sanitation facilities, waste collection, fire protection measures, and supervision is often cited as one of the main reasons the Greek state continues to restrict free camping outside licensed sites.

Secretary of State Rubio Says US Law Blocks Turkey’s Return to F-35 Program

4 June 2026 at 17:43
Marco Rubio, US Secretary of State
Secretary of State Marco Rubio says Turkey’s return to the F-35 program is blocked by US law over Ankara’s S-400 purchase. Credit: Shawn Thew / EPA via AMNA

US Secretary of State Marco Rubio said the Trump administration currently lacks the legal authority to restore Turkey to the F-35 fighter jet program, citing statutory restrictions linked to Ankara’s acquisition of Russia’s S-400 air defense system.

Rubio made the remarks during a House Foreign Affairs Committee hearing after Representative Dina Titus questioned him about recent comments by US Ambassador to Turkey Tom Barrack. Barrack had suggested that Washington should allow Turkey back into the F-35 program. Titus said that position appeared to conflict with existing US law and long-standing American policy.

Titus asked whether Turkey could receive advanced US fighter jets, including F-35s, under the current legal framework.

Rubio says Turkey’s F-35 return is blocked by law

Rubio said Turkey had originally participated in the F-35 program before Washington removed Ankara over its purchase of the Russian-made S-400 missile defense system.

“The reason why they can’t get them is because they purchased the S-400 system from the Russians,” Rubio said.

Turkey’s acquisition of the S-400 has remained a major source of tension in US-Turkey defense relations. Washington argues that the Russian system conflicts with NATO defense architecture and could create security risks for the F-35 platform.

Rubio points to NDAA restrictions

Titus noted that Turkey still possesses the S-400 system and remains subject to mandatory sanctions. Rubio acknowledged the point, saying existing US law controls the issue and limits the administration’s discretion.

Rubio said the administration currently lacks the authority to make such a decision because US law restricts the matter, including provisions of the National Defense Authorization Act.

His remarks underscored that any potential change in Turkey’s access to the F-35 program would require action on legal restrictions imposed by Congress. Those restrictions stem from Ankara’s S-400 acquisition and broader US sanctions policy toward major defense transactions with Russia.

Greece Tightens Security Ahead of Global Hells Angels Gathering

4 June 2026 at 02:05
Hells Angels bikers gather at an event
Greece prepares security measures ahead of an expected international Hells Angels event. Credit: Kim Ludbrook/EPA via AMNA

Greece is stepping up cooperation with European law enforcement agencies as it prepares for a major Hells Angels gathering expected in the country. Authorities have opened cooperation channels with police services across EU member states to share information on individuals considered to be of “high interest.”

The move comes as Hells Angels bikers from several countries are expected to travel to Greece for what has been described as an international “jamboree.” Greece’s National Intelligence Service, EYP, has also prepared an assessment of the activities and organizational structure of Hells Angels chapters operating in the country.

Greece coordinates with EU police before gathering

The expected arrival of bikers from abroad has prompted Greek authorities to seek closer intelligence-sharing with European partners. Officials are focusing on identifying and monitoring individuals who may already be known to police or intelligence services.

This type of cooperation is important because outlaw motorcycle groups often maintain a cross-border presence, making coordination between national authorities a key part of security planning. Greek authorities are handling the gathering not only as a domestic policing matter but also as an issue with a wider European security dimension.

Hells Angels’ global network draws law enforcement attention

Hells Angels ranks among the world’s largest motorcycle clubs, with thousands of members and hundreds of chapters across dozens of countries. The organization presents itself as a brotherhood of motorcycle enthusiasts whose members organize rides, social gatherings, and charitable events.

However, law enforcement and intelligence agencies in Europe and North America have linked parts of the club to organized criminal activity. Europol and national police services have repeatedly warned that outlaw motorcycle gangs remain a transnational security concern. Authorities say such groups have been connected to criminal networks operating across borders.

US authorities scrutinize Hells Angels and other biker gangs

In the United States, authorities commonly group Hells Angels with three other major outlaw motorcycle gangs: the Pagans, the Outlaws, and the Bandidos.

Law enforcement officials have alleged that some members and certain chapters have been connected to crimes such as drug trafficking, stolen property networks, extortion, and other organized criminal activity.

Hells Angels disputes any characterization of the wider club as a criminal organization, arguing that illegal behavior, where it occurs, should be attributed to individuals rather than the association itself.

Greece Invests €131M in Aquaculture as Abandoned Fish Farms Raise Alarm

3 June 2026 at 23:06
Fish farming cages floating in the sea near Amarynthos in Euboea, Greece.
Fish farming cages in Greek waters, as Greece accelerates aquaculture investment while abandoned fish farms raise environmental and maritime safety concerns. Credit: Wikimedia Commons / Jebulon / Public Domain

Greece is accelerating investment in its aquaculture sector, approving 105 new projects worth €131 million ($151,9 million), while abandoned fish farms continue to raise environmental and maritime safety concerns.

Greek Rural Development and Food Minister Margaritis Schinas said Wednesday that the approved investment plans include €87 million ($100 million) in public funding. Speaking at the opening of the 14th session of the Scientific Advisory Committee on Aquaculture of the General Fisheries Commission for the Mediterranean, he outlined the government’s plan for a more competitive, sustainable and resilient aquaculture industry.

Greece targets growth in aquaculture

According to Schinas, the government increased the original budget allocation from €71 million ($82 million) to €78 million ($90 million) to support all aquaculture projects that received a positive evaluation. He described the package as one of the most important investment interventions in the sector in recent years.

The funding will help modernize production facilities, encourage innovation, support digital transformation and strengthen the global competitiveness of Greek aquaculture. The government aims to achieve average annual production growth of 5 percent through the end of the decade.

Schinas also linked the future of aquaculture to broader challenges facing Europe, including food security, climate change, sustainable development and the protection of natural resources. “The question facing the Mediterranean today is how to produce more and better food without exhausting the natural resources on which production itself depends,” he said, adding that the answer lies in cooperation, scientific research, innovation and a shared European and Mediterranean vision.

A major export industry for Greece

Aquaculture is already one of Greece’s most important export-oriented food sectors. Schinas said the country currently has around 285 marine fish farming units, more than 400 shellfish farming operations and 24 hatcheries.

Government estimates put annual production at nearly 141,000 metric tons, while the sector supports more than 10,000 direct and indirect jobs. About 80 percent of Greek aquaculture output is exported.

“Greek fish has evolved into a true ambassador for our country,” Schinas said.

Abandoned fish farms raise pollution concerns in Greece

The investment push comes as Greece is also dealing with the environmental legacy of abandoned aquaculture sites, sometimes described as “ghost farms.”

These sites are fish farms that operators have left behind, often with nets, cages and other infrastructure still in the sea. Over time, abandoned nets, plastics, tiles and timber can pollute nearby waters, harm marine life and create risks for shipping.

The issue gained renewed attention in February 2026, when a large fish-farming ring was spotted drifting in the Ionian Sea before ending up near Ithaca. The structure had entered a route used by passenger vessels, prompting the Coast Guard to intercept it over safety concerns.

Modi site removed after pressure

Abandoned aquaculture structures previously recorded near Modi in western Greece have since been removed by the operator and reportedly sent for recycling. Healthy Seas had identified the site years earlier through surveys conducted with Ghost Diving Greece and the Greek NGO OZON. The groups recorded four aquaculture rings there and considered them inactive.

After the drifting-ring incident near Ithaca, Healthy Seas examined a possible connection with the Modi site. The organization said the type of ring was unusual for the area, making the possible link difficult to ignore.

Following cooperation with authorities, media exposure and formal correspondence with competent bodies, the Coast Guard carried out a new inspection at Modi. Authorities later confirmed that the structures previously recorded there had been removed. The operator reportedly told the Coast Guard that the structures had been transferred to a recycling company.

The operator is said to have denied that the drifting ring came from its facility. Still, regardless of the ring’s origin, one more abandoned aquaculture site has now been cleared from Greek waters.

Aquaculture in Greece
Aquaculture in Greece. Credit: EU Directorate-General for Maritime Affairs and Fisheries

Abandoned Fish Farms Challenge Sustainable Aquaculture in Greece

For environmental groups, the case shows that abandoned aquaculture infrastructure is not only a marine pollution problem. It can also become a safety risk when structures break loose and drift into busy waters. Veronika Mikos, director of Healthy Seas, said the case points to a new way of dealing with abandoned fish-farming infrastructure.

“For years our work has focused mainly on the physical removal of abandoned aquaculture infrastructure from the sea,” Mikos said. “What makes this case important is that it points to another possible path: strategic engagement, institutional pressure and coordinated action that can encourage operators to assume responsibility themselves before these structures become even more serious environmental or maritime hazards.”

The challenge for Greece is now twofold: expanding a high-value export industry while ensuring that old or inactive facilities do not remain in the sea long after production has stopped.

UK Drops Cyprus Travel Warning Linked to Middle East Tensions

3 June 2026 at 21:45
View of the Limassol seafront in Cyprus with palm trees, rocks, the sea, and the city skyline in the background.
Limassol, Cyprus. The UK has removed a special travel warning for Cyprus linked to Middle East tensions. Credit: Flickr / Leonid Mamchenkov / CC BY 2

The UK has removed special travel warning for Cyprus that had been introduced following heightened tensions in the Middle East, offering a positive signal for the island’s tourism sector at the peak of the summer season.

The updated guidance from the UK Foreign, Commonwealth & Development Office no longer includes specific references to heightened regional risks or possible travel disruption linked to developments in the Middle East.

UK drops special warning for Cyprus

The previous advisory had placed Cyprus alongside at least 17 other countries in the region under a specific warning related to the increased risk of regional instability.

The concern was connected to the ongoing conflict in the Middle East, as well as a drone attack targeting a British military base on the island. At the time, the FCDO warned that regional tensions could result in travel disruptions and other unforeseen consequences.

British citizens were advised to exercise increased caution when traveling, although the UK government never advised against travel to Cyprus.

General safety advice remains in place

The latest update removes those special references from the official travel guidance. While general safety advice for Cyprus remains in place, there is no longer any specific mention of heightened regional risks or potential disruption caused by the Middle East crisis.

The change is being interpreted as an indication that British authorities believe the risk of direct consequences for Cyprus from regional developments has significantly diminished.

Positive signal for Cyprus tourism

The update is particularly important for Cyprus as the summer tourism season reaches its peak. The United Kingdom remains the island’s largest tourism market, making British travel advice highly influential for the tourism industry.

The earlier warning had raised concerns among tourism stakeholders in both Cyprus and the UK, with several British media outlets highlighting the references to regional instability.

For the island’s tourism sector, the removal of the warning is expected to help ease concerns among British travelers and operators, especially as Cyprus continues to depend heavily on arrivals from the UK during the summer months.

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