EUROPEAN COMMISSION

From 2024 the escape clause will be deactivated, to begin a period of de-escalation of debt that has risen above the 60% of GDP threshold in most EU countries.

Borrell underlined that he will continue to defend this position whenever necessary and concluded his letter to the minister by assuring him of the European Union's solidarity with all its member-states and its continued support for the issue.

Greek Foreign Affairs Minister said that states are not able to deal with the challenge on their own, and are individually paying a heavy price to support common European values.

In addition to the projects that are being implemented, the Environment and Energy Ministry last week issued a positive opinion on the construction of the EastMed pipeline.

The European Commission stressed that despite the better than expected result in 2021, fiscal risks remain significant. Greek FinMin Christos Staikouras welcomes EU Commission's spring forecasts report.

Infrastructure Minister Kostas Karamanlis had announced that the expansion of the Western Regional Ymittos to Vouliagmeni Avenue would proceed as a public project. However, in recent weeks the ministry seems to have changed opinion.

The European Commission is expected to unveil next week its strategic plan for the establishment of bad banks at the national level, as revealed yesterday, Mairead McGuiness.

An open letter by renewables groups handed to European Council says the sector requires ‘bold commitments’. The European Council is expected to publish its conclusions on hydrogen which will then be adopted later this month.

Development and Investment Minister Adonis Georgiadis reiterated what was outlined in the European Commission's sixth post-memorandum monitoring report on Greece, regarding the creation of a mechanism to help projects mature, under the supervision of the Prime Minister's Office.

Schinas stressed that following the Tuesday visit of the three presidents of EU's top institutions to Evros, the Union sent a "resounding message of support to Greece," a country facing an "unprecedented challenge."