Mitsotakis announces one month’s rent refund for tenants, 250 euros for low-income pensioners in November
Prime Minister Kyriakos Mitsotakis announced measures to support pensioners and tenants in rented accommodation, after the release of data on Greece’s fiscal overperformance by ELSTAT and Eurostat.
Greece declares EEZ in Ionian Sea after unveiling maritime spatial plan
Greece has officially declared an Exclusive Economic Zone (EEZ) in the Ionian Sea, extending from the Ionian Islands to Cape Tainaron at the southern tip of the Peloponnese’s Mani peninsula.
Energy subsidies for small and medium-sized enterprises
Energy Minister Stavros Papastavrou announced on Tuesday that the government will offer electricity subsidies for small and medium-sized enterprises, immediately and with retroactive effect.
https://www.ekathimerini.com/economy/1267604/energy-subsidies-for-small-and-medium-sized-enterprises
Bank of Greece: Inbound travel flows rise 5.4% in Jan-Feb 2025
Inbound traveller flows grew by 5.4% in January-February 2025, the Bank of Greece (BoG) said in its report for the first two months of the year, compared to the same two months in 2024.
https://www.amna.gr/en/article/898705/Bank-of-Greece-Inbound-travel-flows-rise-54-in-Jan-Feb-2025
ATHEX: S&P, surplus give stocks fresh boost
The local bourse bucked the eurozone trend on Tuesday and recorded growth after a long weekend that included the upgrading of the Greek economy by Standard & Poor’s late on Good Friday and the announcement of a primary surplus overshoot that allowed the government to take new growth-friendly measures. Stocks reacted with a rise in prices and a moderate rebound in turnover, led by banks, which were the clear winners of the day.
https://www.ekathimerini.com/economy/1267647/athex-sp-surplus-give-stocks-fresh-boost
KATHIMERINI: Handout as a counter incentive for undeclared rents
TA NEA: “Gifts” worth 1 billion with fine print
EFIMERIDA TON SYNTAKTON: Salvation-package for the government
RIZOSPASTIS: Mockery-measures for the simple folks after the… overperformance of price hikes and the tax-heist
KONTRA NEWS: Delayed relief measures
DIMOKRATIA: Smell of snap elections
NAFTEMPORIKI: New Development Law brings about investment acceleration
DRIVING THE DAY: LONDON SUMMIT ON UKRAINE
MORE BABY STEPS: It’s just a few days since U.S. Secretary of State Marco Rubio warned that the Trump administration would abandon Ukraine peace talks if no progress is made. Now, the top U.S. diplomat has pulled out of today’s talks in London.
Background: Rubio had been scheduled to attend the meeting with foreign ministers and top officials from Europe and Ukraine, but the State Department announced Tuesday he would no longer go.
Reading the runes: Washington insisted talks were proceeding as planned. “The negotiations continue. We feel again we are hopefully moving in the right direction,” the White House press secretary said Tuesday, adding that Donald Trump’s envoy Steve Witkoff would visit Russia (for the fourth time) by the end of the week.
Slimmed-down summit: A senior U.K. official insisted today’s London summit, which Ukrainian Foreign Minister Andrii Sybiha will attend, will still be “a significant moment,” but agreed that the key aim of the get-together was to not let the trail go cold on a potential ceasefire, Esther Webber reports from London. U.S. envoy Keith Kellogg is expected to lead the American delegation, per my London Playbook colleagues.
Trump’s latest plan: The Telegraph reports Trump is proposing Russian President Vladimir get to keep large swathes of Ukrainian territory, with the U.S. to officially recognize Crimea as a part of Russia. Axios reports the plan also includes unofficial U.S. recognition of Russian control of nearly all areas occupied since the 2022 invasion. Right on cue, the Financial Times reported last night that Putin had agreed to freeze the conflict along the current front line.
VIEW FROM KYIV: Ukrainian President Volodymyr Zelenskyy said Kyiv is ready to negotiate directly with Moscow to end the war — if Putin first agrees to a full ceasefire, Veronika Melkozerova reports. That marks a significant shift in tone, as Ukraine has refused to engage in direct talks with the Kremlin since it launched the full-scale invasion in February 2022.
Ready to talk: “If the Russians are ready for a complete ceasefire, then after a complete ceasefire is established, we are ready for any format of negotiations with them,” Zelenskyy told POLITICO at a press conference in Kyiv on Tuesday. Zelenskyy also said he wants to meet with Trump on the sidelines of the pope’s funeral this weekend (more on that below).
Kyiv’s red lines: But Zelenskyy dismissed the idea of recognizing Crimea as Russian. “There is nothing to talk about,” he told reporters. “This violates our constitution. This is our territory, the territory of the people of Ukraine.”
VIEW FROM BRUSSELS: Kaja Kallas, the EU’s top diplomat, told AFP in an interview that Putin was playing for time and doesn’t really want peace. She urged the Trump administration to increase pressure on Moscow, and said it would be a mistake for the U.S. to recognize Crimea as Russian (which she vowed the EU would never do). “Then Russia clearly gets what they want,” she said.
SPAIN UPS MILITARY SPENDING: Meanwhile, in the latest sign that European countries are getting serious about defense spending, Spain announced plans to meet the NATO target of 2 percent of GDP expenditure on defense by the end of the year, Aitor Hernández-Morales reports. Citing the “rapidly evolving geopolitical and economic context,” Prime Minister Pedro Sánchez said the country, which is among NATO’s lowest defense spenders, would increase its total military expenditure this year to around €34 billion.
Guns vs. butter: Sánchez insisted that “not 1 cent” of the higher defense budget would be taken from existing social schemes or collected with new taxes. The PM’s left-wing coalition partners and his traditional allies within the parliament oppose what they call the country’s “militarization,” especially if it comes at the expense of Spain’s expansive welfare programs.
THE AMERICANS AREN’T COMING: For decades, Europe’s military logistics have been built on the assumption of American support. Much of the continent’s transport infrastructure still runs west to east, shaped by the expectation that U.S. reinforcements would arrive from across the Atlantic.
But what happens if the U.S. abandons Europe? As Martina Sapio writes in this piece, even assuming Europe could procure its own assets, moving troops, tanks and fuel across the continent would be a challenge.
NOW READ THIS — THE CZAR’S GAMBIT: The Kremlin and the world of chess have long been deeply embedded. But as Daria Meshcheriakova writes in a must-read investigation on POLITICO this morning, the link has taken on a new relevance as one of Russia’s top players has become a vocal propagandist for the Kremlin’s war, even personally delivering military equipment to the front line. Read all about how Arkady Dvorkovich has blurred the lines between politics and sport.
FAREWELLING POPE FRANCIS
IT’S CONFIRMED: European Commission President Ursula von der Leyen — plus hundreds of world leaders and dignitaries — will attend Pope Francis’ funeral in Rome on Saturday. The Vatican announced the body of the late pontiff will today be moved to St Peter’s Basilica, where he will lie in state.
Room for diplomacy: Saturday’s mass will be an opportunity for world leaders to honor the late pope — but also to get some face-time with each other. Decorum aside, the European Commission has already been fielding questions as to whether von der Leyen will meet Trump, who’s also attending.
“The visit on Saturday is for a different reason. It is for the pope’s funeral, and that is the occasion for which the president will be traveling to Rome. I cannot exclude any other possible meetings,” a Commission spokeswoman said Wednesday, noting that von der Leyen herself has said it would be a good idea to meet with U.S. counterparts “once there is an agreement” on trade.
Reminder: Von der Leyen has yet to meet Trump since his reelection. (She was mysteriously a no-show at the reopening of the Notre Dame cathedral in Paris in December, which was Trump’s first international trip since winning the election, despite her team announcing earlier that week that she would attend.)
Meloni hospitality: Italian Prime Minister Giorgia Meloni will be on home turf as the host in Rome. She has previously suggested an EU-U.S. summit, but a trilateral meeting between Meloni, Trump and von der Leyen is perhaps the most likely.
Complicating matters: The Commission’s expected imminent fines against U.S. tech giants could rile up Trump right before a hoped-for meeting.
Pressing the flesh: Meanwhile, Commission Executive Vice President Valdis Dombrovskis is due to have a bilateral meeting with U.S. Treasury Secretary Scott Bessent on Friday, according to his team. It would be the first face-to-face meeting between the EU and the U.S. administration since Maroš Šefčovič’s trip to Washington last week. (Dombrovskis will also attend the meeting of G7 and G20 finance ministers in Washington later today.)
Speaking of Bessent: The U.S. Treasury secretary told a closed-door investor summit Tuesday that Trump’s trade war with China can’t be sustained by both sides and that Washington and Beijing will have to find ways to deescalate, Bloomberg reports.
Storm clouds ahead: The annual meeting of finance chiefs and central bankers is continuing in Washington as the IMF on Tuesday downgraded its economic forecast due to the Trump tariff war. It cut its forecast for global growth to 2.8 percent, slashing its growth predictions for the United States and China in particular. Eurozone GDP will also drop by 0.2 percentage points.
Self-inflicted wounds: The IMF cut its forecast for the U.S. economy by nearly a full percentage point to 1.8 percent, from 2.7 percent in January. It also raised its inflation forecast for the U.S. this year by a full percentage point to 3 percent. Write-up here.
COUNTDOWN TO COP
BRAZIL BECKONS: It may be more than eight months away but preparations for this year’s COP climate conference in Belém, Brazil are well underway. Reminder: This year’s climate pow-wow is a biggie, marking a decade since the 2015 landmark Paris accord, with countries (and the EU) due to sign off on finance commitments through 2035.
Preparation game: The European Parliament’s environment committee will host an exchange of views this afternoon on the EU’s COP30 preparations with Kurt Vandenberghe, director of the Commission’s climate department.
Zoomin’ in: Meanwhile, Brazil’s President Luiz Inácio Lula da Silva and U.N. boss António Guterres are convening a “virtual closed door” meeting today to “discuss strengthening global efforts to tackle the climate crisis and accelerate a just energy transition.” Ursula von der Leyen and European Council President António Costa are slated to attend.
Secret invite list: Guterres and Lula have sent out invites to a “small but representative group” of leaders, per a press release, but as senior climate reporter Zia Weise reports in today’s Morning Energy newsletter for POLITICO Pros, the organizers won’t say who else is dialling in. China is expected to join, while Trump is unlikely to make an appearance. Beijing has pushed for closer EU-China cooperation in the wake of Trump’s tariff war.
Awkward: The EU, which prides itself on being a world leader on tackling climate change, is lagging behind on its COP30 commitments. As Zia reports, countries were meant to file a fresh climate target covering the period up to 2035 in February, but Brussels missed that deadline. There’s no clarity on when the EU will be ready — a particular worry given the European target is expected to serve as a benchmark for other major emitters.
Reminder: The Commission recently postponed its 2040 climate target as it struggles to find sufficient support among governments, POLITICO reported earlier this month. The EU’s executive arm had originally promised to release a draft law in the first quarter of 2025, but has faced calls to water down its plan to cut emissions 90 percent below 1990 levels by 2040.
CITY OF CRIME
OFFICERS SPEAK OUT: Brussels police officers have sent an anonymous letter to press agency Belga throwing their support behind a controversial merger of the Belgian capital’s six police zones — and throwing their superiors under the bus. They claim politicians and managers who’d represented their views often spoke up “to defend their personal interests,” Hanne Cokelaere reports.
Accusations: The unnamed officers who wrote the letter claim that some majors are abusing their authority by being driven to meetings in police cars, or deploying “excessive” pressure to get access to judicial reports, according to an RTBF write-up.
Background: Brussels’ six police zones fall under the purview of the Belgian capital’s 19 mayors, and the federal government has pledged to merge them into one to close security gaps. Belgium’s Home Affairs Minister Bernard Quintin wants the merger to be done by 2027.
IN OTHER NEWS
SCHWAB’S WEF RESIGNATION LATEST: World Economic Forum founder Klaus Schwab is under investigation by the organization he founded after a whistleblower alleged financial and ethical misconduct by him and his wife, the Wall Street Journal reported last night. The WEF board of trustees decided to open a probe during an emergency meeting on Easter Sunday, the paper reports, and Schwab immediately resigned as WEF chairman. The Schwabs deny all the allegations, per the WSJ.
SCHENGEN UPDATE: The latest “State of Schengen” report will be issued today — it’s the annual stocktake of the workings of the EU’s free movement zone. Among the recommendations: strengthening law enforcement in border areas, improving the digitalization of border controls (for example though the upcoming entry-exit systems), and implementing more effective measures for returns.
ANOTHER FRENCH ELECTION? French President Emmanuel Macron is considering dissolving parliament and holding another snap election as soon as this fall, as his popularity improves, Bloomberg reports. The president hasn’t made a decision yet, per the report.
TIKTOK UNDER FIRE: EU regulators are looking into the “SkinnyTok” trend that has flooded TikTok with videos promoting extreme thinness to assess whether the platform is doing enough to protect kids online, Klara Durand and Océane Herrero write.
HUNGARY’S DISSENT CRACKDOWN: Last week, Prime Minister Viktor Orbán’s Fidesz party adopted a bill that would allow the Hungarian government to temporarily strip dual citizens of their Hungarian passports for acting “in the interest of foreign powers.” In an op-ed for POLITICO, David Koranyi, the president of Action for Democracy, writes: “The ambitions of this bill are clear as day. This is not about national security; it’s about silencing dissent.”
MUSK STEPPING BACK AS TESLA TANKS: Elon Musk will step back from U.S. government work to focus on running Tesla, which reported a 20 percent drop in sales and a net income reduction of 71 percent during the first quarter of 2025. POLITICO has the story.
NOSTALGIA LANE: As POLITICO marks its 10th anniversary in Brussels, our own Hans von der Burchard shared this trip down memory lane, marking the moment in 2015 that POLITICO Europe went live.