Kevin Wars was ratified Wednesday as the new president of the Federal Reserve, taking the leadership of the US Federal Bank at a time when American President Donald Trump is pushing for lower interest rates, while new inflation figures complicate the possibility of reductions. In one of the most divisive [...]
Greece recorded a primary surplus of 4.9% of GDP in 2025, the highest in the EU. According to an analysis by the Institute for Alternative Policies ONE, improvement is mainly due to inflation that increased tax revenues by 1.5 units of GDP, while primary expenditure increased only 0.4 units. Civil servants' wages and social benefits decreased as a percentage of GDP, as nominal increases fall short of inflation. Despite the financial aid measures announced by Minister Kyriakos Pierrakakis, the shock of accuracy continues to burden economically weaker households disproportionately.
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The Governor of the Bank of Greece, Giannis Stournaras, whose term of office was renewed for the third time, estimated that the Middle East war would end due to the forthcoming elections in America, as it is not in anyone's interest to continue. He stressed that Greece has budget pillows, although the extension of the war would increase oil, gas and food prices. Stournaras explained that higher inflation in Greece is due to excessive demand and rejected the claims of bank overprofit, stressing that they have normal profits after years of losses.
Kyriakos Mitsotakis warned the House about the serious economic consequences of conflicts in the Middle East, describing the prospects «extremely ominous to tragic». Inflation was launched at 3.9% in March, with food at 4.5% and fuel up to 27.4%. The State Budget Office and the IMF revised growth to 1.8%-2%, while inflation is expected to reach 3.5%. With Brent oil at $90-100 a barrel, the initial budget forecasts are overturned, calling into question the government «success story».
