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Latest News

Metsola to EU leaders: "We cannot keep responding to a changing world with outdated tools"

Metsola to EU leaders: "We cannot keep responding to a changing world with outdated tools" Metsola to EU leaders: "We cannot keep responding to a changing world with outdated tools"
European Parliament President Roberta Metsola has urged EU leaders to modernise the Union’s financial and strategic toolkit, warning that...
Read More...

Heineken takes legal action in U.S. over Trump-era tariffs, eyes refund amid court ruling

Heineken takes legal action in U.S. over Trump-era tariffs, eyes refund amid court ruling Heineken takes legal action in U.S. over Trump-era tariffs, eyes refund amid court ruling
  Dutch brewing giant Heineken has launched a lawsuit in the United States seeking to recover import tariffs it says were wrongly imposed...
Read More...

EU leaders unite behind ambitious plan for a single market by 2027

EU leaders unite behind ambitious plan for a single market by 2027 EU leaders unite behind ambitious plan for a single market by 2027
  In a strong show of unity, the European Union’s top institutions have committed to an ambitious roadmap aimed at creating a fully integrated...
Read More...

Germany seeks balance in China ties as Economy Minister plans strategic visit

Germany seeks balance in China ties as Economy Minister plans strategic visit Germany seeks balance in China ties as Economy Minister plans strategic visit
  Germany’s Economy Minister Katherina Reiche is set to travel to China in May for a series of closed-door discussions aimed at addressing...
Read More...

EU tightens the screws: new sanctions package deepens pressure on Russia amid ongoing war

EU tightens the screws: new sanctions package deepens pressure on Russia amid ongoing war EU tightens the screws: new sanctions package deepens pressure on Russia amid ongoing war
  The European Union has approved its 20th round of sanctions against Russia, marking another escalation in its economic and political...
Read More...

EU fish farming shrinks in 2024 despite strong demand

EU fish farming shrinks in 2024 despite strong demand EU fish farming shrinks in 2024 despite strong demand
  The European Union’s aquaculture sector experienced a modest downturn in 2024, with total production falling to around 1 million tonnes,...
Read More...

Netherlands faces unprecedented security pressures, intelligence agency warns

Netherlands faces unprecedented security pressures, intelligence agency warns Netherlands faces unprecedented security pressures, intelligence agency warns
The Netherlands is confronting its most complex and sustained security challenges in decades, according to the latest annual report from the...
Read More...

Digital reading boom: e-book and audiobook sales surge across Europe in 2025

Digital reading boom: e-book and audiobook sales surge across Europe in 2025 Digital reading boom: e-book and audiobook sales surge across Europe in 2025
  The appetite for digital reading continues to grow across the European Union, with new data showing a notable rise in e-book and audiobook...
Read More...

Poland moves closer to €7.2 billion EU payout as recovery plan gains momentum

Poland moves closer to €7.2 billion EU payout as recovery plan gains momentum Poland moves closer to €7.2 billion EU payout as recovery plan gains momentum
  Poland has taken another step toward unlocking major EU funding, after the European Commission approved its fourth payment request worth...
Read More...

EU moves to modernise social security rules for cross-border workers

EU moves to modernise social security rules for cross-border workers EU moves to modernise social security rules for cross-border workers
  The European Union has taken a significant step toward improving access to social benefits for people working across borders, reaching...
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Greece's Parliament was sworn in Wednesday (July 17) after July 7 elections that saw a broad conservative victory end over four years of leftist rule.

The six-party Parliament will officially begin its functions after electing a Speaker on Thursday.

New Prime Minister Kyriakos Mitsotakis' conservative government has made boosting sluggish growth a priority, powered by tax cuts and accompanied by privatisation deals.

The 51-year-old Harvard graduate and former McKinsey consultant has also pledged to create jobs and get rid of obstacles to business.

Mr Mitsotakis will outline his government's policies at the weekend before a vote of confidence late on Sunday.

His New Democracy party has 158 lawmakers in the 300-seat chamber.

The Greek debt agency said it had raised €2.5 billion (S$3.82 billion) in the sale, while the prime minister said the yield of 1.9 per cent was a "record low".

A previous seven-year sale in February 2018 had a yield of 3.5 per cent amid world market volatility.

Starting in 2020, Mr Mitsotakis has promised to cut a hated property tax called ENFIA - brought in by a previous New Democracy-led government during the economic crisis - by 30 per cent over two years.

REFORMS PACKAGE

He has also offered to reduce income tax thresholds and to gradually cut tax on business profits by 8 per cent.

But just hours after his July 7 victory, euro zone finance ministers warned the new government to stick to the country's strict public spending commitments.

"We must keep our commitments, this is the only way I know to gain credibility," said Eurogroup chief Mario Centeno.

On Tuesday, the euro zone's bailout fund director and a key EU official overseeing Greece's debt repayments, Mr Klaus Regling, suggested that tax cuts be coupled "with a broader tax base".

In a meeting with Regling later on Tuesday, Mr Mitsotakis "confirmed that Greece would respect fiscal targets", the prime minister's office said.

During the election campaign, Mr Mitsotakis said he would persuade Greece's creditors to accept the easing of targets with "a comprehensive reforms package".

The current framework negotiated with creditors by the previous leftist Syriza government holds Greece to a primary budget surplus of 3.5 per cent to 2022 - but the conservatives say that target stifles growth.

There are two fewer parties in Parliament than in the previous chamber, but two of them are new - Greek Solution, a nationalist party formed by TV salesman Kyriakos Velopoulos, and MeRA25, an anti-austerity party founded by maverick economist and Mr Tsipras's former finance minister Yanis Varoufakis.

"We are here to say a massive 'no' to whatever strengthens (Greece's debt burden)," Mr Varoufakis, whose party elected nine lawmakers, said before being sworn in on Wednesday.

In contrast, neo-Nazi party Golden Dawn was shut out of Parliament for the first time since 2012.

Golden Dawn, until recently Greece's third-ranking party, is in disarray amid an ongoing trial for the 2013 murder of an anti-fascist rapper, allegedly carried out with the knowledge of senior Golden Dawn members.afp

 

deneme