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Newsletter January 2026

An additional €48 million for the electric car subsidy program.

The Ministry of Infrastructure and Transport will continue the "I Move Electrically" initiative in the coming period by securing new funding. The subsidy amounts will be the same as the existing ones. According to reports, the ministry in charge has requested €48 million for the initiative, with the final amount to be "locked in" in the coming days. The funds have been secured, but some procedural issues remain with the Ministry of Environment and Energy. It should be noted that the duration of the third cycle of the "I Move Electrically III" program was recently extended until March 31, giving interested parties the opportunity to submit applications for electric vehicle subsidies. The ministry's goal is to exhaust the available budget of €57 million, but the deadline may end earlier if the funds are exhausted. According to data from the system, of the €57 million total budget for the "I Move Electrically III" program, €1,607,877.22 remains, most of which is earmarked for individuals, while the amount available for businesses is only €30,599.79. Specifically, the basic subsidy is set at €3,000 for each individual who purchases or leases a purely electric passenger car worth up to €50,000 (LTFP), while a €1,500 reward is provided for scrapping a car and a €400 subsidy for purchasing a smart charger. However, despite the subsidies and public interest in purchasing electric vehicles, the market share of purely electric vehicles lags behind that of other vehicle categories. More than half of new passenger cars sold in Greece in 2025 were hybrids (gasoline-electric), with their market share reaching 50.7% from 42.3% in 2024, while gasoline-powered vehicles fell to 28.3% from 35.7% in 2024.

"Tiresias" for tenants with poor payment records.

Although it is known as "Tiresias for tenants," no decision has yet been made on whether tenants will be included in the information system based on their credit rating and, more importantly, under what conditions. According to relevant sources, it must be decided at what stage of debt maturity tenants will be included, if it is finally decided to include them. This could be, for example, as soon as a rent payment decision is issued. One idea, as conveyed by the sources, is to use the relevant AADE register for rents, which was created during the crisis. Another issue that needs to be addressed is vulnerable groups. It is noted that a landlord who loses their home due to a red loan should at least be able to rent another property and not be excluded because of the "Tiresias of tenants."

New air traffic control systems donated by five companies.

Through private cooperation, an attempt is being made to "unfreeze" the critical contract for the supply and installation of a modern Voice Communication and Recording System (VCRS) for the Athens and Macedonia Area Control Center (KEPAHM), which manages the entire Greek airspace. This contract, which has remained on paper since 2019, came to the forefront of public attention after the serious incident on January 4, when air traffic controllers lost telephone communication with pilots of aircraft in the Athens FIR. Due to the fact that many years have passed since the initial specifications were drafted and the equipment they provided for is now obsolete, on October 2, 2025, the Ministry of Transport submitted a file to the Court of Auditors for amendment of the contract. However, the supreme body rejected the reactivation of the contract, along with the changes that had been made, such as the addition of more modern equipment, as it considered that its reactivation was not legally feasible. In view of this development and in order to avoid a new tender, which would take at least two years to select a contractor and start implementation, Transport Minister Christos Dimas took the initiative and approached private companies to gauge their interest in financing the project. Athens International Airport, Fraport Greece, Aegean Airlines, Sky Express, and the GEK TERNA group responded to his invitation. These companies will cover the cost of €4.7 million, including VAT, for the immediate supply and installation of the systems.

Wedding receptions with digital customer base.

The digital customer base is expanding to reception venues, christenings, children's and corporate parties, and generally to all kinds of events. Following the automotive sector, the tax administration is rushing to get ready for the season that starts in May – June, expanding the use of the digital customer base to the events sector, while at the end of the year it will be extended to other sectors, such as gyms, beauty and wellness centers, physiotherapy clinics, dance schools, hotels, and other organized accommodations. Events are the second major source of tax evasion, and according to the AADE's plans, the relevant decisions will be issued after Easter, with the aim of activating the digital system in all businesses and professionals in May. In the digital customer database, the entities subject to the obligation must record and send to the AADE real-time data resulting from their business. In conjunction with the keeping of electronic books (myDATA) and the digital monitoring of stock movements (digital dispatch note), the digital vehicle customer database is another important tool for promoting tax compliance, conducting audit verifications, assisting on-site inspections, and extracting indicators of the range of transactional activity by sector and location, with the aim of safeguarding public revenue.

The world's oldest brewery is up for sale due to declining sales.

On the banks of the Danube, where the river disappears into Bavarian nature, Weltenburg Abbey stands as a stone witness to a thousand years of history. In this legendary monastery, the art of brewing is not just a production process, but a sacred tradition that began in 1050 AD. The Benedictine monks who lived there survived fires, devastating floods, the secularization of the state, and even a world war, when the demolition of the building was canceled at the last minute. Today, the world's oldest monastic brewery faces a different, more relentless enemy: the economic reality of a steadily shrinking market. The announcement that Weltenburger is being sold to Munich's renowned Schneider Weisse brewery marks the end of an era. Despite international recognition and half a million visitors who flock to the abbey every year to taste its award-winning dark beer, the business has been in the red for several years. The Catholic Diocese of Regensburg was forced to continually contribute its own funds to cover the losses, at a time when beer consumption in Germany is experiencing a historic decline, with consumers leaving behind the overconsumption of previous generations.

Ozempic also reduces fuel costs for airlines.

The revolution in healthcare through new-generation weight loss drugs such as Ozempic is not only transforming the figures of millions of people, but also promises to change the landscape for airlines, one of the most energy-intensive sectors of the global economy. A recent study by financial firm Jefferies reveals that the widespread use of drugs that mimic a natural hormone in the human body, glucagon (GLP-1), could lead to millions of dollars in savings for US airlines, thanks to the simple physics of flight: lighter passengers require less fuel. The four giants of the skies in the US—American Airlines, Delta Air Lines, Southwest Airlines, and United Airlines—could see their fuel costs reduced by a total of $580 million per year. This amount is derived from the reduction in aircraft weight, as every kilogram lost from the payload allows the engines to burn less kerosene. This saving may represent only 1.5% of annual fuel costs, which are expected to reach $38.6 billion for these companies by 2026, but in the airline industry, every gram counts. That is why airlines traditionally resort to extreme measures to reduce weight, a prime example being American Airlines, which decades ago removed a single olive from passengers' salads to save $40,000. olive from passengers' salads to save $40,000.

The Greenlandic MAGA: "Make America go away."

Difficult times, wars, whether commercial or actual violent conflicts, encourage ingenuity among merchants and others. Thus, in Greenland, the owner of a shop selling outdated fashion, or vintage, as they are commonly called, had the brilliant idea of producing red hats of the type favored by Trump, but also of paraphrasing his slogan "Make America great again." His success lies in the fact that he came up with his own slogan, "Make America Go Away," but because the English language helped him with the words of the slogan, it results in the exact same acronym as Trump's, MAGA. The idea spread and the caps are now available in many stores and are selling like hotcakes. All proceeds from their sales will go to a Greenlandic charity that cares for children in need.

Why China dominates electric mobility.

Stella Li, executive vice president of BYD, is a key contributor to the leap forward achieved by the Chinese industry in electric mobility. Speaking at a panel at the World Economic Forum, she pointed out that EVs have a 52% market share in China. She attributed the country's clear lead over its competitors to the crystalclear message sent by the central government. Li explained that China has installed four times more charging stations than gas stations. Most importantly, it is now introducing the possibility of ultra-fast charging of one megawatt, making it possible to charge for journeys of 400-500 km in just 2-5 minutes. She argued that China's leadership in electric mobility is not the result of government subsidies, but comes from a consumption push that rewards new innovations around EVs. According to an analysis by The Economist, about 15 countries have significant reserves of rare earths. China ranks first, followed by Brazil. Chinese soil provides 70% of the ores from which rare earths are mined. According to an analysis by The Economist, about 15 countries have significant reserves of rare earths. China ranks first.

France ready to "fight" for champagne.

The French Minister of Trade spoke critically about US President Donald Trump's threats to impose tariffs on champagne and reiterated the commitment to retaliate if the US president goes ahead with this action. Earlier this week, Trump proposed imposing a 200% tariff on wines and champagne in response to Paris rejecting an invitation to join the so-called "Peace Council." Since then, trade tensions have eased as Trump abandoned his plans to impose tariffs on European countries that oppose his attempt to acquire sovereignty over Greenland. Champagne exports to the US, worth €750 million per year, account for around 20% of France's beverage exports. The share for wine is roughly the same, with exports from Bordeaux and Burgundy totaling around €770 million. Before Trump's retreat, France was among the countries calling for a tough response to the threats of tariffs.

Gold broke the $5,000 barrier for the first time in history.

Gold surpassed the $5,000 per ounce mark for the first time in history, as it continues to be seen as a safe haven amid the geopolitical, trade, and monetary uncertainties created by US President Donald Trump's policies. The price of the precious yellow metal, which is strengthening as the dollar weakens, has been on a steady rise for years. An ounce of gold was just over $2,000 in January 2024.
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