When Donald Trump reassumed the U.S. Presidency, he implemented a tariff barrage affecting Chinese e-commerce giants Temu and Shein, effectively shutting them out of the American market. In response, these companies redirected €1.5 billion in advertising spend from the U.S. to the EU, intensifying competition for Greek and other European businesses. According to ESEE (Hellenic Association of Food Industries), this shift caused significant losses for Greek public finances due to tax, job, insurance contributions, rental service taxes, customs duties, and direct losses amounting to €188.1 million – €204.3 million annually. The situation raises concerns about potential legislative interventions needed to level the playing field.
Meanwhile, another economic bomb looms in the real estate sector as energy costs could surge following geopolitical tensions involving the U.S., Israel, and Iran. This may lead to increased construction costs impacting property prices. Additionally, imposing rent caps might inadvertently harm low-income households by reducing housing supply and discouraging investments.
In energy news, private electricity suppliers agree with the proposed increase in DEDDHE’s allowable income but demand improved service quality metrics akin to those applied to end consumers. Furthermore, discussions persist regarding compensation claims against Spanish grid operators following a major blackout.
Education also sees developments with Costeas-Geitonas School planning its new campus set for opening in 2028 amidst archaeological discoveries delaying initial timelines. Lastly, Brussels clarifies Greece’s €415 million penalty concerning OPKEPE underlining member states’ responsibilities in managing EU funds effectively.