The price of American oil again exceeded $100 a barrel on Sunday to Monday night, in the first transactions after opening markets. The rise followed the announcement of the US armed forces to block Iranian ports, due to the absence of an agreement to end the war in the Middle East. West Texas Intermediate (WTI) for delivery in May rose 7%, while Brent North Sea for delivery in June reached 101.80 dollars with an increase of 6.8%.
The Greek economy is improving, but convergence with the Eurozone is lagging behind. Per capita GDP reached 68% of the EU average. in 2025, but without exceeding the 2008 level. According to Declan Costello of the European Commission, household purchasing power remains below the pre-crisis levels. Obstacles are the business environment, demographic trends, labour taxation and skills mismatch. The Recovery Fund helped, but Greece will continue to rely on European funds after its expiry in 2026.
After years of stagnation, the great project of exploitation of the port in Platygiali Astakos comes back dynamically. The Environmental Impact Study for Nautilus Project, an investment of over 500m euros, was put in public consultation. Alpha Bank and Piraeus Bank, through Lobster Terminal S.A., undertake the implementation. The project envisions a 350-seat five-star marina, luxury hotels, residences and commercial spaces in 1,800 acres. 800-1,000 jobs are expected to be created. Mayor Xiromerou Giannis Triantafyllakis stresses that the investment will bring growth across Western Greece.
Debt management companies (servicers) cut one in two red loans, trying to address the problem of private debt corresponding to a GDP (EUR 245 billion). Non-performing loans amount to 73.9 billion euros, with 68 billion being managed by servicers. The haircut reaches up to 74% in consumers, 45% in housing and 62% in small business loans. The government is promoting a new digital platform for non-performing loans to operate from autumn, creating transparency in the secondary market worth 80 billion euros.
