S&P Global Ratings upgraded Greece’s sovereign credit ratings to ‘BBB’ from ‘BBB-‘ on April 18, 2025, citing the country’s “unwavering fiscal discipline.” The stable outlook reflects confidence in Greece’s fiscal policies and economic recovery, further solidifying its investment-grade status.
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Former Australian Ambassador to the U.S. Arthur Sinodinos AO has questioned America’s reliability as an ally under Donald Trump’s “America First” policy, warning that the U.S. must recognize its security is intertwined with Australia’s in the Indo-Pacific.
Greek Maritime Minister Vassilis Kikilias announces amendment to halve port fees.
The Greek government is set to announce a bold economic relief package at the Thessaloniki International Fair in September, featuring the reinstatement of the 13th pension, abolition of the ENFIA property tax for primary residences, and tax cuts targeting middle-class incomes. Aimed at pensioners, the middle class, and self-employed professionals, the measures seek to reverse public discontent while maintaining fiscal balance.
Bitcoin dropped to $77,816.41 after a $200 million liquidation swept through the crypto market in just one hour, with altcoins like Ethereum and Solana also posting steep losses. The market-wide decline, marked by Bitcoin’s fall from $83,778.12 to $76,752.66, highlights the volatility of cryptocurrencies and the risks of leveraged trading, leaving investors on edge.
Greece’s mandatory POS-cash register integration has transformed the economy, boosting tax compliance and uncovering hidden transactions. The Hellenic Revenue Authority reports a €2.66 billion revenue increase in 2024, with one-third of VAT growth from 2022-2024 tied to this digital shift. Electronic payments surged by €7.5 billion, particularly in catering, transport, and tourism, enabling tax relief and social reforms while fostering a transparent fiscal environment.
JP Morgan has raised its U.S. recession probability from 40% to 60%, now fully anticipating a downturn in 2025. Analysts warn of an imminent credit bubble burst, with risks of a credit event surging to levels last seen during the 2023 Regional Bank Crisis, as market sentiment signals growing unease.
Greece ranks 26th out of 27 EU countries in purchasing power, surpassing only Bulgaria, with a per capita GDP 30% below the average, according to Eurostat. The data underscores a stark economic divide, with Greece trailing Southern European peers like Portugal, Spain, and Italy, while Luxembourg and Ireland lead the bloc.
Greece’s tourism sector kicked off 2025 with a bang, as the Bank of Greece reported over 821,000 visitors in January alone, driving a 30% spike in travel spending to €214.7 million. German tourists arrived in droves, while big-spending Americans led the charge with €40.9 million, setting the stage for a record-breaking year.
Greece’s central government achieved a primary surplus of 3.5% of its GDP in 2024, significantly surpassing the government’s target of 2.5%. This achievement was announced by the outgoing finance minister, Kostis Hatzidakis, as he welcomed the new finance minister, Kyriakos Pierrakakis.
It was the only major rating agency that had delayed granting Greece investment grade status. Hatzidakis: “Greece is leaving its past behind.”
Greece’s GDP is projected to grow by 2.3% in 2024 and 2025, outpacing the Euro Area average, with real disposable income up 2% and bank deposits hitting €250 billion. However, a widening current account deficit, housing crisis, rising migration, and political instability pose significant challenges to sustained growth.
Millionaires flock to Greece, drawn by tax breaks and Golden Visa, boosting real estate with 1,200 settling from 2022-2024, per New World Wealth.
Legendary investor John P. Calamos, Sr. is set to release his biography, The Sky’s the Limit, on April 22, 2025. This inspirational work chronicles his journey from a Vietnam War pilot to a Wall Street titan, offering lessons in service, entrepreneurship, and the pursuit of the American Dream.
DBRS Morningstar has upgraded Greece’s credit rating to ‘BBB’ from ‘BBB-‘ due to improvements in the banking sector and a significant reduction in the country’s debt-to-GDP ratio. This marks a continuation of Greece’s positive fiscal performance, with expectations for strong economic growth and further debt reduction in the coming years. The upgrade reflects Greece’s progress in stabilizing its financial system and achieving fiscal targets, as well as the return of profitability for Greek banks after years of government support following the financial crisis.
This article provides an overview of property taxes in Greece for foreign investors in 2025. It covers the taxes involved in purchasing, owning, renting, and selling property, including VAT, transfer tax, the annual ENFIA tax, special real estate taxes for companies, rental income tax, and capital gains tax. The article also explains the tax exemptions and reductions available for long-term rentals and insurance against natural disasters.
The Athens Exchange hit a 14-year high, with the General Index surpassing 1,630 points, driven by a strong banking rally and solid performance in the energy sector. Notable stock movements included Alpha Bank’s major transaction and significant gains for Eurobank and Metlen. Trading volume remained high, with turnover exceeding 375 million euros, reflecting strong market activity.
The Bank of Greece (BoG) has proposed transferring €69.6 million of its 2024 profits to the Greek state following a meeting of its General Council. The bank’s net income for the year was €436 million, a 19.8% decrease from the previous year. Additionally, shareholders will receive a statutory dividend of €13.3 million, with the Greek state benefiting from significant interest payments on its deposits.
In February, the Greek manufacturing sector maintained steady growth, as reported by S&P Global, with the PMI at 52.6 points. Despite a slight dip in new orders and export growth, the sector saw a notable increase in production and employment. However, rising input costs and supplier delays present ongoing challenges.
Greece experienced a significant boost in entrepreneurship in 2024, with new business registrations rising by 18.3%, totaling 132,507 companies, according to the Hellenic Statistical Authority.
The Bank of Greece (BoG) projects that Greece’s inflation will settle at 2.5% in 2025,…
JP Morgan CEO Jamie Dimon unleashed a profanity-laced tirade against remote work, internal bureaucracy, and Gen Z employees in a leaked audio recording. Dimon’s rant highlighted his frustration with “work-from-home Fridays,” which he claimed made it impossible to reach employees, and his concern about the negative impact of remote work on training and company culture. He also criticized managers for failing to effectively supervise remote employees and vowed to streamline internal processes.
Greek exports saw a 7.8% increase in December 2024, reaching €4.03 billion, compared to the same month in 2023. Exports excluding petroleum products rose by 16.2%, marking six consecutive months of growth. Despite a slight decline of 2.2% in total exports for 2024, the country’s export performance showed strong results in key sectors like food, chemicals, and raw materials.
In a recent interview with Lesley Stahl, Jamie Dimon, the CEO of JPMorgan, reiterated his…
JP Morgan has filed two new lawsuits against Viva Wallet and its majority owner, Werealize, escalating a dispute over the valuation of the Greek fintech company.
Despite the growing trend of electronic payments, 50% of Greek consumers still prefer cash for daily transactions, the highest preference rate in the Eurozone. This is driven by factors like privacy, better expense control, and the immediate nature of cash transactions. While digital payments are increasing, cash remains crucial for many, especially vulnerable groups, raising concerns over tax evasion.
The Athens Stock Exchange surged to near 14-year highs driven by a strong rally in bank stocks, with Eurobank hitting a 9-year high and Attica Bank jumping 8%. This positive performance contrasted with downward trends in other European markets.
A Ferrari crashed into the wall of Mark Bouris’s former Watsons Bay residence on Thursday, trapping a woman inside. Emergency services worked to free the passenger, who, along with the driver, was taken to St Vincent’s Hospital. The cause of the accident is under investigation
Greece’s ruling New Democracy party has approved the 2025 budget with a focus on increased defense spending, gaining strong cross-party support amid economic challenges. This decision highlights Greece’s strategic commitment within NATO, as tensions with neighboring Turkey persist. Meanwhile, social unrest grows due to rising prices of essential goods, adding to the political complexities facing the government.
Greek banks are bracing for a possible financial hit of approximately €100 million ($105 million)…
