- Greece & France – Greece and France have renewed and expanded their Enhanced Comprehensive Strategic Partnership Agreement, extending their 2021 defense and security pact for another five years and broadening cooperation into new areas. Prime Minister Kyriakos Mitsotakis and French President Emmanuel Macron last month signed nine agreements covering defense, civil protection, migration, technology, the environment, education, culture, and coordination in EU and international forums, with particular focus on AI and cybersecurity. The updated framework also includes civil nuclear cooperation, while Greece expressed interest in French-led talks on European nuclear deterrence and civilian nuclear policy.
- Gulf Allies – Greece has strengthened ties with Gulf partners Qatar and the UAE through new agreements on security, trade and technology. In late April, Prime Minister Kyriakos Mitsotakis met the Emir of Qatar Sheikh Tamim bin Hamad Al Thani in Athens, where the two countries agreed to deepen cooperation in trade, energy, defense, agri-food, culture and education. The following week, Mr. Mitsotakis met UAE President Sheikh Mohamed bin Zayed Al Nahyan in Abu Dhabi where the two countries signed an AI and technology agreement that builds on the broader €4 billion UAE–Greece investment initiative.
- Budget Surplus – Greece beat its 2025 budget targets posting a record primary surplus of €12.1 billion, equal to 4.9% of GDP versus a target of 3.7%. The outperformance was driven mainly by lower spending and, to a lesser extent, stronger revenues. The overall government budget – after taking into account debt payments – posted a surplus equal to 1.7% GDP, also above targets. As a result of the better-than-expected surpluses, the government announced a €500 million support package for vulnerable social groups coping with the economic consequences of the conflict in the Middle East.
- Greek Debt – Greece will proceed with the early repayment of €6.9 billion worth of debt stemming from a first financial assistance package received from EU members during the global financial crisis. Through the early repayment of outstanding debt, Greece’s government aims to reduce the debt burden to close to 130% of GDP in 2027, which means Greece will no longer have the highest debt-to-GDP ratio in the EU.
- Euronext Athens – ATHEX Group – the holding company for the Athens Stock Exchange – has been rebranded as Euronext Athens Holding following Euronext’s acquisition of the Athens bourse late last year. As part of the acquisition, Euronext has created the Euronext Athens Technical Support Centre, which will provide technical support for the Europewide group. The acquisition of the Athens exchange comes as all major market index providers including MSCI, FTSE Russell, S&P Dow Jones and STOXX have upgraded Greece to Developed Market status after a decade long hiatus.
- Conrad Athens – Greek hospitality group TEMES SA has launched its new mixed-use hotel and leisure destination The Ilisian following the three-year, €340 million redevelopment of the old Hilton Hotel in central Athens. The new development now features the 278-room Conrad Athens Hotel along with branded residences, wellness facilities, dining and shopping destinations.
- Strategic Investment – Greece’s Interministerial Committee on Strategic Investments has approved a €340 million investment by energy and metals group Metlen for the development of a gallium production facility. Gallium is classified as a critical raw material by the EU and is used in a range of advanced technologies, including semiconductors, defense applications, artificial intelligence systems and photovoltaic technologies. Once ready, the facility will be able to cover 100% of EU needs, providing the bloc with strategic autonomy in gallium.
- Greek Satellites – Greece launched six new microsatellites into orbit as part of its National Microsatellite Program, including four thermal satellites designed to detect and monitor wildfires. The four satellites will be integrated into Greece’s Government Earth Observation Hub providing near real time data on wildfires and substantially enhancing Greece’s prevention, preparedness and response systems. To date, Greece has launched 17 microsatellites into orbit as part of its national program.
- Submarine Upgrade – German shipbuilding giant Thyssenkrupp Marine Systems and Greece’s Skaramangas Shipyards have signed a comprehensive agreement to execute a mid-life upgrade for the Hellenic Navy’s four Type 214 submarines. The program will upgrade capabilities against new threats and with a substantial portion of the upgrade to take place at the Skaramangas Shipyards, creating high-skilled jobs and providing local engineers with advanced technical knowledge.
- Panathenea Festival – Athens successfully hosted the second Panathenea tech and culture festival, Greece’s flagship technology festival. The groundbreaking event brings together entrepreneurs, investors, artists and visionaries in a reimagination of the ancient Greek festival by the same name. The brainchild of Greek-American businessman and philanthropist George Behrakis, the festival, which drew more than 10,000 attendees, is part of Greece’s efforts to become a tech hub to the region, drawing on its human capital, rich cultural history and economic progress. Enterprise Greece was a sponsoring partner to the event.
- Film Development – The government is set to establish a new school for film and audiovisual content as part of Greece’s efforts to develop the country’s film industry. In an online announcement, Prime Minister Kyriakos Mitsotakis said that the government is also launching a second, five-year €750 million action plan to support the Greek film industry.
- Sustainable Development – June marks the 50th anniversary of the OECD Guidelines for Multinational Enterprises on Responsible Business Conduct, first adopted in June 1976. The Guidelines constitute a key international reference framework for responsible business practices, encouraging companies to contribute to economic, environmental and social progress, while identifying, preventing and addressing potential adverse impacts linked to their activities, supply chains and business relationships. Greece participates in this international framework through its National Contact Point for Responsible Business Conduct, which promotes awareness and implementation of the Guidelines at national level. Enterprise Greece, as a member of the Greek National Contact Point, contributes to this effort by supporting the dissemination of responsible business conduct principles and their connection with sustainable investment, export promotion and the broader internationalisation of Greek enterprises. Read more