Relief for Katseli Law debtors
The government announced on Tuesday a decision that offers relief to tens of thousands of borrowers of the so-called Katseli Law, about the protection of their main residence since early last decade. The announcement has turned into a universal right for the vast majority of those borrowers, following the recent decision of the Supreme Court that ruled that the interest debtors pay will be calculated on the monthly installment only. This way, the Finance Ministry has put a definitive end to the conflicting interpretations formulated by the legal circles of the banks, arguing that although the interest will be calculated in the monthly installment, the basis of calculation will be the entire period of the arrangement, leading to a similar interest rate burden on the borrowers.
https://www.ekathimerini.com/economy/1307559/relief-for-katseli-law-debtors
European Commission points to ethic panel’s opinion in Avramopoulos’ case
The European Commission said on Tuesday that it had approved a request by former European commissioner and current Greek New Democracy lawmaker, Dimitris Avramopoulos, to work for an NGO later linked to a major cash-for-influence investigation involving members of the European Parliament. A Commission spokesperson, however, did not confirm Avramopoulos’ claim that the part of the investigation that concerned him had “closed” three years ago, following the decision of the European Commission signed by President Ursula von der Leyen. There was no mention of the case being closed.
Greece launches public consultation on first national water strategy
Greece’s Ministry of Environment and Energy has launched a public consultation on the country’s first National Water Strategy, aimed at establishing a modern, coherent and comprehensive framework for the management of water resources.
In a statement on Tuesday, the ministry said that, amid the growing impact of climate change and increasing pressure on water security, the transition to a holistic approach to water resource management has become a major national priority and a prerequisite for the country’s sustainable development.
IELKA: Standard supermarket basket in Greece remains cheaper than in most European countries
Prices for the standard household shopping basket in Greek supermarkets continue to remain lower than those in France, the United Kingdom, Italy, Spain, Portugal, Germany, Romania and Bulgaria. At the same time, Greece records the second-highest VAT burden among the countries examined.
ATHEX: Short-term stock easing seen ahead
Coming off Monday’s 16-year highs, the benchmark of the Greek stock market suffered losses on Tuesday, with banks spearheading the decline and Coca-Cola HBC serving to contain it with its gains. This was attributed not only to the predictable profit-taking, but also to the new impression that the short-term trend at Athinon Avenue will be one of price easing, ahead of the local bourse’s inclusion in the category of developed stock markets. That also led to a significant increase in the day’s turnover.
https://www.ekathimerini.com/economy/1307558/athex-short-term-stock-easing-seen-ahead
KATHIMERINI: They were selling stolen electricity to well-known businesses
TA NEA: The legal solution for red loans: For all, retrospectively and without interest
EFIMERIDA TON SYNTAKTON: Regulation regarding the protection of indebted households: Pre-election patchwork for an ongoing crime
RIZOSPASTIS: Government faces strike stranglehold
KONTRA NEWS: Regulation-breathing air for red loans
DIMOKRATIA: The winners and losers of the new regulation for the Katselis law
NAFTEMPORIKI: The economy’s reflection in the Athens Stock Exchange
DRIVING THE DAY
SG STAFFS UP: The European Commission’s Secretariat-General, the Berlaymont’s powerful coordinating center, is set to receive nine additional senior posts this year, according to an internal document seen by Playbook.
The staffing plan points to the Commission’s priorities before a wider restructuring expected by the end of the year — and to a stronger SG with a bigger role in the EU’s next long-term budget. Only DG TRADE is getting as many new senior roles.
The document, drawn up by Commission officials as part of the 2027 budget and obtained by my colleague Jacopo Barigazzi, was approved by commissioners on June 10 but hasn’t been made public, two EU officials confirmed.
It gives SG 10 new roles overall: nine administrator-level jobs and one assistant post. The extra staff will support work on two of the biggest pieces of the Multiannual Financial Framework: the Competitiveness Fund and the National and Regional Partnership Plans.
The Commission confirmed the allocation, adding that some of the new recruits will help coordinate work on the next EU budget, competitiveness and technological sovereignty. “Other services have also been reinforced as part of the regular yearly reallocation exercise,” a spokesperson said, pointing out that TRADE is getting 14 new posts overall.
Perspective: Even with the new recruits, SG remains lean compared to the Commission’s biggest departments. “If they think they can run the whole [budget] with nine people more, good for them,” said an official in a large department.
But the allocations are a sign of the secretariat’s growing importance under Commission President Ursula von der Leyen.
Once conceived as a coordinating service, SG now reaches into the post-Covid Recovery Fund, SAFE defense funds, security policy, Ukraine financing and parts of the Commission’s strategic agenda. “If I want to know what’s happening in my policy area, it’s often more useful to speak to the SG than to my boss,” one Commission official told POLITICO.
As Playbook reported last month, powers traditionally held by spending departments such as DG REGIO could gradually move toward SG — and therefore closer to von der Leyen. In particular, SG REFORM, the unit overseeing the post-Covid recovery fund, appears to be positioning itself for a larger role in future EU spending. “That seems to be the direction of travel,” said an EU official granted anonymity to discuss the internal Commission document.
SG has also become a talent pipeline for von der Leyen to expand her network of loyalists. Recent moves sent Céline Gauer and Elisabeth Werner from SG to the top of DG ENER and DG AGRI — extending the reach of officials shaped in the Berlaymont’s upper floors.
BIG AND BREAKING
NEW MOVE TO OUTSOURCE MIGRATION: A group of EU countries is considering sending rejected asylum-seekers to Rwanda and Uzbekistan.
WHY ARE WE SWEATING? Climate change, poor infrastructure and distracted politicians are all partly to blame.
HITTING PAUSE: Hungary has delayed a key procedural step needed to progress Ukraine and Moldova’s EU membership bids.
SUPERPOWER NO MORE: For decades, central bankers dominated economic policymaking, but power is shifting back to governments as Europe confronts war, rearmament and trade conflict.
MILITARY MOVE: The top U.S. Army officer in Europe, Gen. Christopher Donahue, is unexpectedly standing down after just 18 months in the job. He had clashed with Defense Secretary Pete Hegseth, per CBS News.
THE AC WARS
HOT AND BOTHERED: The soaring Brussels heat is fraying tempers in some EU departments, where basic heatwave advice posted on the Commission’s intranet — avoid going outside at the hottest time of day, drink water regularly — has prompted eye-rolling among overheated officials, according to messages seen by Playbook.
Losing their cool: When one Commission staffer posted that they love coming to the office because it’s air-conditioned, an official at DG AGRI (located in one of the Commission’s oldest buildings) shot back: “We don’t have Airco in the office. Enjoy!”
“This AC thing in offices is going to be a game changer,” a DG DEFIS official posted, lamenting the lack of air-conditioning at one of the most prominent organizations in a wealthy capital. Several officials highlighted difficult conditions in the Merode building in Etterbeek, home to DG MENA, and the Madou building in Saint-Josse-Ten-Noode, where DG COMP is based (and which had problems with contaminated tap water earlier this year).
Thanks for that: The Commission’s advice to “switch off heat sources in your office (electrical appliances)” prompted one official to respond: “OK, I’ll shut down my laptop then.” Another pointed out that a suggestion to telework isn’t exactly helpful to those living in apartments with no AC or window blinds and inside temperatures hitting 30C.
The 13th floor hasn’t been spared, either: The higher you get in the Berlaymont, the warmer it gets, Playbook hears. “There’s some AC” up there, a resident of the executive’s nerve center told me. “But it’s a large building, there are many people and heat rises.” Fans have been deployed but they’re barely up to the job, that person said.
20-SECOND PLAYBOOK PRIMER
The European Parliament’s Economic and Monetary Affairs Committee on Tuesday backed the creation of a digital euro. But how would that work? It would be an electronic version of cash issued by the European Central Bank and would have the same value as existing banknotes and coins — assuming the EU offers its full backing. The ECB hopes to begin minting the virtual extension of euros before the end of the decade. Your digital cash would most likely be stored on a wallet-like application on your smartphone.
TALK TO PLAYBOOK: On the Brussels Playbook Podcast, Zoya and Ian talked about overheating EU officials. Tell us how your institution is coping with the heat via Whatsapp on +32 491 050629 and listen from 7 a.m. to hear if we give you a shoutout.
FAR-RIGHT CASH CLASH
MONEY TALKS: The European Parliament’s Budgetary Control Committee will today decide how tough it should get with the Patriots for Europe over spending irregularities by the far-right political group.
In late 2024, EU auditors uncovered €270,000 of misused EU funds — in addition to more than €4 million improperly spent by the group’s predecessor, the Identity and Democracy group, between 2019 and 2024.
Committee Chair Andreas Schwab, from the European People’s Party, has written to the Parliament’s leadership saying the Patriots have faced “necessary consequences.” The letter will be the basis for today’s discussion between group coordinators, Schwab said.
Going further: But the Greens/EFA, along with the Socialists and Democrats, want more. They’re calling for the European Public Prosecutor’s Office to step in and for enhanced scrutiny of the Patriots’ 2025 accounts. They say the far-right group must repay the €4 million misspent by Identity and Democracy, and that Patriots Secretary-General Philip Claeys, who oversaw the finances of both groups, should lose his powers.
In response: The Patriots denied any wrongdoing and warned against “premature conclusions based on leaked interim information.” The group said it has no link with Identity and Democracy and that it has introduced new rules to strengthen financial controls.
The first stone: Lawmakers aren’t expected to demand similar action against any other group — prompting the Patriots to accuse their critics of “double standards.” Meanwhile, Transparency International is calling for an overhaul. “The sheer scale of misuse of EU funds [demands] a reform of how political groups are allowed to manage taxpayers’ money,” the NGO’s Nicholas Aiossa said.
5 MORE THINGS GETTING US TALKING
TAX OMNIBUS: Companies are set to save €8 billion annually in compliance costs under the Commission’s tax omnibus due to be unveiled today (more for subscribers in Morning FS). “The world will not wait for Europe to do what it must to secure its long-term prosperity. We must act with urgency and ambition,” Commissioner Valdis Dombrovskis told Playbook ahead of the unveiling.
ENERGY PRODUCT SIMPLIFICATION: The European Commission will also propose changes to the bloc’s energy labels today as part of its broader “simplification” drive. More in Morning Energy (for subscribers).
FOREIGN TRIP: Ursula von der Leyen is preparing to travel to Armenia next week in a show of support for Prime Minister Nikol Pashinyan.
OFF THE BENCH: Ukrainian Prime Minister Yulia Svyrydenko said she will lead Kyiv’s delegation to this week’s Ukraine Recovery Conference in Gdańsk. President Volodymyr Zelenskyy is set to skip the event amid a growing diplomatic dispute with his Polish counterpart Karol Nawrocki.
NOT HAPPY: Czech President Petr Pavel said he filed a lawsuit against the government, challenging Prime Minister Andrej Babiš’ decision not to include him in the delegation attending July’s NATO summit.