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Greece: The largest subsea power cable in the world has been electrified

The Independent Power Transmission Operator (IPTO) of Greece successfully electrified the first subsea cable linking Crete to the mainland power grid in Peloponnese. It is the largest subsea AC interconnection in the world. The completion of the 24-hour test electrification signifies a historical success for IPTO and the contractors, as they faced up to the significant technological challenges with effectiveness and technical efficiency, transcending -to a considerable extent- what has been achieved so far in similar international projects.     [...]

January 7th, 2021|Online news / Blog|

Greece buys Air Force training and know- how from Israel

Greece and Israel have agreed to proceed to the creation and operation of an Air Force School for the Greek Air Force, the Israeli embassy in Greece announced. The training center, modeled on the school of the Israeli Air Force (IAF), will be located in Kalamata, South Greece. Following an international tender, the Greek government has decided to assign the project to the Israeli candidate. The agreement foresees the establishment and operation of a flight school for the Hellenic Air [...]

January 6th, 2021|Online news / Blog|

Greece offers low taxes to wealthy individuals. All you need to do to enjoy the favorable treatment

The Greek Ministry of Finance issued detailed guidelines for foreigners that want to move their tax residence in Greece. The "non-dom" program is one of the measures the Greek government uses to lure capital from abroad. It targets high-net-worth individuals-investors and gives them the opportunity to secure favorable tax treatment by becoming tax residents of Greece. More specifically, their foreign source income will be taxed with an annual flat tax of 100,000 euros plus 20,000 euros per spouse, child or [...]

January 5th, 2021|Online news / Blog|

Cabinet reshuffling: a favourite Greek pastime

Cabinet reshuffling: a favourite Greek pastime by Antonis D. Papagiannidis Greek politics is an interesting, bustling, at times magical menagerie populated by various species engaged in intense survival=of-the-fittest rivalry. This in no way constitutes some sort of Greek particularity, much less an oddity: such is the normal course of political confrontation in a parliamentary democratic system, albeit one tinged with shades of excessive prime-ministerial power in the case of latter-day Greece. This translates in systematic reset of the game on [...]

January 4th, 2021|Online news / Blog|

A milestone in Europe’s energy independence: Azeri gas started flowing in Greece, Italy and Bulgaria

The first gas from Azerbaijan has reached Greece and Bulgaria, via the Nea Mesimvria interconnection point with DESFA, the Trans Adriatic Pipeline (TAP) operator announced on the last day of 2020. The Azeri gas also flows to Italy, via the Melendugno interconnection point with SNAM Rete Gas (SRG). TAP (part of the Southern Gas Corridor) transports natural gas from the giant Shah Deniz field in the Azerbaijan sector of the Caspian Sea to Europe. The 878 km long pipeline crosses [...]

January 2nd, 2021|Online news / Blog|

Brexit deal: What does it change in trade, competition, financial services and travel

The clock is ticking. The United Kingdom will be leaving the European Union within hours. Luckily, the Brexit will happen in an orderly manner, under the provisions of the Trade and Cooperation Agreement, an Agreement on Nuclear Cooperation and an Agreement on Security Procedures for Exchanging and Protecting Classified Information. The "divorce Trade and Cooperation deal" came at the eleventh hour. As the UK government notes in the Summary Expainer "it is the first the EU has ever reached allowing [...]

December 31st, 2020|Online news / Blog|

Looking for the summer: Airlines and tourism industry prepare for a hot Greek summer

Just days before the end of 2020, a year that profoundly hurt tourism in Greece, the British tour operator and airline Jet2 announced that it has added 135 extra flights to Greece in its summer 2021 programme. The decision aims to cover the expected surge in bookings as a Covid vaccine is rolled out. Capacity is being raised to Corfu, Kefalonia, Crete (Heraklion), Kos, Santorini, Rhodes and Zante with the additional flights a direct response to demand from holidaymakers. “Demand [...]

December 29th, 2020|Online news / Blog|

Of Turkish hustle and bustle and of exploratory talks

Of Turkish hustle and bustle and of exploratory talks by Antonis D. Papagiannidis The official position in Greece (and in Cyprus, for that matter) is still one of expectation that EU pressure will bring Turkey around to a more compromising behaviour – one that will make it possible for Athens and Ankara to engage in exploratory talks within January 2021 in view of East Mediterranean disputes, but also closer home over the Aegean. (Not to miss the point that some 60 [...]

December 28th, 2020|Online news / Blog|
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