PM Mitsotakis to iefimerida.gr: No chance of snap elections or cabinet reshuffle
Prime Minister Kyriakos Mitsotakis ruled out the possibility of snap elections after a rise in poll numbers, during an interview to iefimerida.gr on Thursday. Referring to the war in Iran, Mitsotakis stressed that it is necessary to be prepared for any outcome, noting that if the conflict continues with repercussions on oil and natural gas supplies, it will affect both the European and Greek economies. Asked if the government will introduce more measures, the PM said that “we never roll out all our interventions from the very start,” but government does have in mind additional support meaures, depending on how the situation develops.
PASOK expels MP from parliamentary group
Main opposition PASOK expelled MP Odysseas Konstantinopoulos from its parliamentary group on Thursday. According to sources, the move followed a recent interview in which Konstantinopoulos offered subtle criticism of PASOK’s expansion strategy and its standing in opinion polls.
https://www.ekathimerini.com/politics/1297885/pasok-expels-mp-from-parliamentary-group
BoG governor: Greek economy to keep to 2025 growth rates, if Middle East crisis does not exceed a month
The Greek economy will grow at 2025 levels this year, as long as the crisis in the Middle East does not last longer than a month, Bank of Greece Governor Yannis Stournaras said on Thursday. Speaking at Ceos Club, Greece’s central banker said the prospects of the Greek economy remained positive despite unfavorable external influences.
Moody’s warning on local banks
Markets may be pricing in a short-lived Middle East conflict, but in a scenario where the war is prolonged, which cannot be ruled out, Greek banks will face serious pressure on their business plans and financials, while a new wave of nonperforming loans is likely, which will derail their prospects, Moody’s reported.
https://www.ekathimerini.com/economy/1297776/moodys-warning-on-local-banks
ATHEX: Stock market gets back to southward direction
The stock price rollercoaster continued at Athinon Avenue on Thursday, as the previous days’ rise was followed by a sharp decline led by bank stocks; only utilities defied the pressure. The Greek bourse appears to revert to its past feature of easy swings in accordance with the mood abroad, an element that had diminished in the last 12 months with the autonomous course of its blue chips in particular. The international crisis and its ebbs and flows are simply too big not to sway ATHEX accordingly, and the blows on Greek-owned ships in the Gulf play their part, too.
https://www.ekathimerini.com/economy/1297886/athex-stock-market-gets-back-to-southward-direction
KATHIMERINI: Procedures for the transfer of real estate assets resemble torture
TA NEA: Greek police issues classified guidelines for the handling of extremists: “Do not try to be a hero”
EFIMERIDA TON SYNTAKTON: Government is being undermined by its right wing
RIZOSPASTIS: Greece-Chevron agreement: Energy plans and competition for groups’ profits lead the war entanglement
KONTRA NEWS: The war cancelled the government reshuffle
DIMOKRATIA: Undeclared government war against insubordinate media
NAFTEMPORIKI: For listed companies dividends are a refuge
DRIVING THE DAY
TICK TOCK ON TRADE: European and American officials are going into overdrive to salvage the landmark deal they agreed last summer and avoid reginiting a transatlantic trade war. The agreement signed by European Commission President Ursula von der Leyen and U.S. President Donald Trump in Scotland in July has ground to a halt in Parliament amid the row over Greenland and the U.S. Supreme Court striking down Trump’s tariffs.
Question of numbers: A high-stakes vote on the deal is expected on March 19, but questions are growing around whether there is sufficient support among lawmakers. Meanwhile, American patience appears to be wearing thin — despite Treasury Secretary Scott Bessent’s assurances this week that Washington remains committed to the deal — and some fear Trump could revert to new tariff threats.
“The EU has done approximately zero percent of what they were supposed to do for their trade deal with us,” U.S. Trade Representative Jamieson Greer said during a press call on Wednesday, venting frustration at the slow progress of ratification. “The European Union has had their legislation for their tariffs pending for many, many, many, many months.”
Frenzy of talks: The chair of the Parliament’s U.S. delegation, Brando Benifei, will travel to Washington next week hoping to meet Greer. He’ll be accompanied by German Social Democrat Bernd Lange, chair of the International Trade Committee, and center-right Polish MEP Michał Szczerba. On this side of the Atlantic, Željana Zovko, the top negotiator on the file from the European People’s Party, will meet with U.S. Ambassador Andrew Puzder on Monday. Top trade liberal lawmaker Karin Karlsbro will also meet with U.S. officials.
Negotiators in the Parliament will meet on March 17 to decide whether the vote could be pushed back yet again, Camille Gijs, Max Griera and Daniel Desrochers write.
Packed agenda: During his trip to Washington from March 18-20, Benifei will have a meeting at the Supreme Court and with Republicans and Democrats on the Hill pushing for a bill to regain power over trade policy from the White House. Sens. Tim Kaine (D-Va.) and Raphael Warnock (D-Ga.) are introducing the Reclaim Trade Powers Act to revoke the authority the administration used to impose emergency 10 percent tariffs after the Supreme Court decision.
“Our group is not against keeping the deal, we are realistic also, we need to bring stability,” Benifei told reporters over dinner on Tuesday evening. “The point is, which stability? I mean, stability based on the fact that we do what the Americans ask and they do what they want … or based on something that was negotiated?”
No surprises: Although Trump appeared to have been blindsided by the Supreme Court ruling, those in Brussels say it changed little. “They’re so committed to tariffs and obviously had been preparing for a new legal basis if their tariffs were ruled illegal,” said one EU official privy to discussions with the U.S. administration. “Nobody in the EU ever thought that if that happened then there would be no tariffs.”
How to save the deal? A “sunrise clause” is being proposed by the EPP — which wants to green-light the deal ASAP — meaning it would only take effect if Washington upholds its commitments. “That would give clarity because what the sunrise clause is doing, it’s making sure that the deal doesn’t kick in before it is confirmed that all the elements of the deal are upheld,” said Jörgen Warborn, a top EPP lawmaker.
And if the U.S. reneges on the deal? The EU will respond “firmly and proportionately,” according to Commission spokesperson Olof Gill.
Critical issue: Meanwhile, the U.S. and the EU face a tense new arrangement in their race to secure supplies of critical raw materials, essential for everything from wind turbines to electric vehicles, as the two sides vie for access in the face of Chinese supply restrictions.
EPP VS. COMMISSION
SLOVENE SHOWDOWN COMES TO EU: One of the most senior lawmakers from Ursula von der Leyen’s own party has launched a bitter attack on the Commission president’s top team. Slovenian MEP Romana Tomc, a vice president of the EPP, is resurfacing allegations that Enlargement Commissioner Marta Kos, a center-left Slovene, was a collaborator with the former Yugoslavia’s secret police.
Tomc claimed in an interview with POLITICO that Kos had not been truthful during her 2024 confirmation hearing when claiming that she hadn’t collaborated with the Communist secret service, adding that “we have to do something with this information.” Slovenia heads to the polls next Sunday after what has been an acrimonious election campaign, in which the Renew/Socalists and Democrats-aligned coalition government faces a challenge from its EPP opponents.
Tito-for-tato: But an official close to the commissioner’s office, granted anonymity to speak freely, hit back at the allegations, saying Kos “is very aware political opponents will use these kinds of things to score points in the Slovenian elections but she is laser-focused on her job as enlargement commissioner.” Kos had strongly rejected the allegations during her confirmation hearing.
Bad blood: The row comes amid a growing rift between von der Leyen’s EPP and her left-wing and centrist coalition allies, the S&D and Renew. And the EPP shows no signs of backing down, with a spokesperson saying Tomc “has kept the EPP Group closely informed about the latest revelations concerning Commissioner Marta Kos. The Group will examine the matter carefully … the ball is in [Kos’] court.”
EU LEADERS’ SUMMIT
CRISIS TALKS: It was supposed to be about competitiveness and economic growth, but the summit of EU presidents and prime ministers next Thursday will instead focus on the fallout from the growing conflict in and around Iran. An invitation sent by European Council President António Costa to leaders late Thursday warns “the military escalation in the Middle East is causing global instability, and its negative consequences are already being felt in Europe.”
Distractions, distractions: “EUCO is rapidly turning into an emergency meeting about energy,” one EU official told Playbook, bemoaning the fact the war with Iran has sparked fears about soaring fuel prices among national leaders. A new report by the International Energy Agency says the conflict has become the largest supply disruption in global oil market history.
Another major issue on the agenda is the 20th sanctions package targeting Russia, with envoys saying they’re hoping to secure a deal around the negotiating table in Brussels. But ambassadors will first have to unanimously agree to roll over existing restrictions on Russian companies and oligarchs, which are due to expire Sunday. They’ll meet today in a bid to overcome Hungary’s threats to withhold support, but another last-minute meeting over the weekend might be needed …
Taking a look: The EU has proposed a fact-finding mission to the Druzhba pipeline in Ukraine, damaged by a Russian drone, in a bid to get Hungary to drop its veto.
GREEN GANG: Five prime ministers have written to Costa calling for the bloc to recommit at next week’s summit to saving the planet and to push back against Brussels’ attempts to water down its Emissions Trading System, according to a letter seen by POLITICO’s Zia Weise (more here for Pros).
COUNCIL VS. COMMISSION: EU countries have backed away from a legal challenge after threatening action over a deal supported by the Commission that would expand Parliament’s powers. But a spokesperson for the Cyprus presidency told POLITICO the Council would monitor the implementation of the revised framework agreement and “reserves the right to act” to protect its institutional role.
IN OTHER NEWS
POLES APART: Poland’s President Karol Nawrocki said he will veto government plans to spend nearly €44 billion of EU defense loans, arguing Thursday it would leave future generations in debt. That prompted Prime Minister Donald Tusk to convene an emergency meeting for this morning and to accuse the president of having “lost the chance to act like a patriot.”
HUAWEI BRIBERY BLUNDER: The Belgian prosecutor’s office admitted it wrongly accused EU lawmaker Daniel Attard of receiving payments from Chinese tech giant Huawei because prosecutors confused him with a Maltese businessman of the same name. The corruption probe wasn’t the first time the two men had been mistaken for each other, Max Griera reports.
FRANCE VOTES: Citizens across France will cast their ballots this weekend in critical municipal and mayoral elections that will place the country’s trajectory under the microscope. Victor Goury-Laffont from our Paris bureau has the ultimate guide on how to read the feuilles de thé.
ITALY VOTES: Prime Minister Giorgia Meloni’s critical referendum on judicial reform is becoming a major headache — but she’s come out swinging as she tries to win it.
CRIME AGAINST HUMANITY: A United Nations’ report has concluded that Russia’s abduction of Ukrainian children should be classified as a crime against humanity.
DEPORTATION CHALLENGE: Left-wing groups are challenging new rules for deporting migrants from the EU agreed in a deal among right-wing parties, meaning a vote will have to be held during the mini-plenary at the end of the month.
MESSAGE TO TRUMP: The U.S. should pursue dialogue, not regime change, in Latin America, Colombian President Gustavo Petro said in an interview with POLITICO.