Economy

Supermarkets operating in Greece on Wednesday pledged to present by the end of the month a “basket” of 50 different products necessary for a household’s living for which they will seek to contain any price increases. An application will facilitate consumers to check and compare the prices these 50 food …

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The energy crisis is changing the operation hours in stores and the start has been made by the Trade Association of Thessaloniki that in all formality raised the issue of reduced hours and made a relevant proposal. Similar thoughts reportedly exist by the Trade Association in Athens, while the Development …

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From December 1, Greece will have to put into effect the decisions of the Energy Ministers’ Meeting held on Friday, September 30, which provide, among other things, the goal of a mandatory 5% reduction in electricity consumption during peak hours, but also a voluntary reduction by 10% of the total …

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Prime Minister Kyriakos Mitsotakis repeated a call for European action to cap gas prices in an article published by Bloomberg on Monday, in which he accused Russia of having “weaponized energy”. While such a cap carried risks, he said, Europe must “take back control of its gas market and cannot …

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In September the European Union-harmonized consumer price index in Greece reached its highest point since the country entered the eurozone, climbing to 12.1% from 11.2% in August, according to estimates Eurostat announced on Friday. Inflation in the eurozone also hit a historic high, reaching a double-digit rate for the first …

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EU Energy Ministers reached a political agreement on measures to mitigate high electricity prices: mandatory electricity reduction at 5% in peak hours, cap on market revenues from inframarginal electricity producers and solidarity contribution from fossil fuels producers, the Czech Republic that is currently holding the rotating EU Presidency said in …

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Greece’s biggest gas utility, DEPA Commercial, has clinched a deal with TotalEnergies for the supply of liquefied natural gas (LNG) over the winter months if needed, the Greek energy ministry said on Thursday. The deal stipulates that TotalEnergies will supply Greece with two LNG cargoes a month for five months …

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Τhe European Commission should set up an 80-billion-euro fund to deal with the fallout from high natural gas prices, proposed Environment and Energy Minister Kostas Skrekas to EU officials on Tuesday. Skrekas made the proposal ahead of the Ministers of Energy Emergency Council on Friday, in a letter to Executive …

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Greece, along with Italy, Belgium and Poland, has sent a letter to the European Commission ahead of a meeting by EU energy ministers on Friday, regarding a proposed cap on natural gas prices. According to points on a draft seen by the by Greek state-run news agency amna, the letter …

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Greece’s draft state budget for 2023 is expected to be finalized this coming week, before its tabling in Parliament on October 3. Basic features include lower taxes for citizens, particularly for pensioners and civil servants, by abolishing of a solidarity tax, and increases in salaries. The revenues lost will be …

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Domestic consumption of natural gas in September shows a 40 percent decrease compared to last year, while there has also been an increase of Greek energy exports to Italy and the Balkans in that time, Environment and Energy Minister Kostas Skrekas said on Thursday. in Bucharest, at the Ministerial Council …

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The port of Alexandroupolis in north-eastern Greece has grown in strategic importance as Washington strengthens military ties with the country. This has been to the detriment of America’s longtime ally, Turkey, as the authoritarian President Erdogan is increasingly distrusted by Western leaders. At the same time, the privatization of the …

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Greece’s Independent Revenues Authority AADE started using a new application to locate fake receipts, giving financial incentives to users: Appodixi went in operation on Wednesday, September 21, and over 700 complaints about fake and falsified were filed already on the first day. Appodixi operates through mobile phones and one can …

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Environment and Energy Minister Kostas Skrekas announced the subsidies for electricity consumption for the month of October. The new support plan foresees a three-tier subsidy scheme depending on the kilowatt consumption by households. subsidies for natural gas have been also announced. Starting prices for electricity in October have fallen to …

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I have been literally frustrated by shrinkflation, spending more and more money to buy less product. And I was shocked over the weekend when I realized  I spent a whole of 130 euros for supermarket purchases. It was supposed to be shopping to cover weekly needs. I did online shopping …

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The Greek government announced on Thursday several measures for cheap housing as they were proclaimed by the Prime Minister at the Thessaloniki International Fair (TIF) last Saturday. The so-called Social Housing Strategy benefits mostly young people up to 39 years old, but also homeowners who lease to young generations or …

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How much does it cost to produce ice cubes in times of high energy cost? Apparently much more than before the energy crisis. So now some businessmen charge extra even the ice cubes in the drink… Customers of a bar-restaurant in Thessaloniki, northern Greece, were surprised to see that they …

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The EU plans a “deep and comprehensive reform of the electricity market” to cope with an energy crisis spurred by Russia’s war in Ukraine, European Commission chief Ursula von der Leyen said Wednesday. The measures include a cap on electricity producers’ profits that would raise 140 billion euros ($140 billion) …

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The exterior lighting of the Parliament building in central Athens will not be switched on at night as part of the national effort to save energy. By decision of Parliament Speaker Kostas Tasoulas, the lighting on the front and sides of the building will be discontinued, while only the perimeter …

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Greece’ Prime Minister Kyriakos Mitsoτακισ shocked the real estate market on Saturday when he announce that investment for Golden Visa is being doubled from €250,000 euros to 500,000 euros. The announcement came practically out of the blue with the argument that real estate will be affordable to Greeks again. The …

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