Greek PM Eyes Surprise Presidential Pick as Clock Ticks

Greek Prime Minister Kyriakos Mitsotakis is back in Athens and facing a crucial decision: choosing the next President of the Republic. While several names have circulated, Mitsotakis is reportedly considering a surprise candidate. This comes as the PM prepares for a key trilateral meeting with Egypt and Cyprus, focusing on Turkey’s expanding role in the region, particularly concerning Syria.

Greece’s Presidential Countdown Begins: Mitsotakis to Announce Candidate Soon

Greece’s presidential election is approaching, with Prime Minister Kyriakos Mitsotakis expected to announce his candidate by mid-January. Current President Katerina Sakellaropoulou is a potential candidate for a second term, but other prominent figures like Lucas Papademos, Evangelos Venizelos, and Yannis Stournaras are also being considered. The election, decided by the Greek Parliament, requires a supermajority in initial voting rounds.

Trump’s Election Could Negatively Impact European Economy, Says Bank of Greece Governor

The election of Donald Trump as U.S. President could negatively impact both American and European economies if his campaign promises are enacted, warned Yannis Stournaras, Governor of the Bank of Greece and ECB board member. Speaking at a public debt conference, Stournaras highlighted potential inflation and public debt rises in the U.S., alongside growth slowdowns and euro exchange rate fluctuations in Europe. He emphasized that the ECB’s monetary policy remains unchanged until more concrete policy details are revealed.

Novartis Case Breakthrough: Financial Prosecutor Lifts Witness Protection

The Financial Prosecutor’s Office has revoked the protection of two key witnesses in the Novartis bribery case, allowing politicians previously implicated by their testimonies, including former Prime Minister Antonis Samaras and other prominent figures, to pursue legal action. The witnesses’ statements, which alleged political involvement in Novartis’ illegal activities, have not been substantiated by further evidence, marking a significant shift in the long-standing investigation.

Greek Public Debt on Decline Amid Post-COVID Recovery

Greece’s public debt is steadily decreasing as the economy recovers and primary surpluses return post-pandemic. By early 2024, government debt dropped to 159.8% of GDP, its lowest since 2012. Regaining investment grade status in 2023, Greece’s debt is projected to continue declining, potentially reaching 60% of GDP in 40 years with ongoing economic reforms and sustained primary surpluses.