European Commission approves financing of Bulgaria-Greece interconnector

The European Commission assessed positively the plans for construction of a gas interconnector between Bulgaria and Greece. The 182 kilometer gas interconnector between Komotini (Greece) and Stara Zagora (Bulgaria) will transport 3 billion cubic meters of gas by 2021. However, its capacity may increase later to 5 billion cubic meters. The total investment cost for the fulfillment of the gas interconnector amounts to EUR 240 million. The project will boost Bulgaria’s transit capacity to the countries in Southeast Europe. Other gas interconnections between Bulgaria and Serbia and Bulgaria and Romania will also contribute to higher gas transit. Moreover, it will guarantee diversification of gas supplies with gas sources from the Caspian region, the Eastern Mediterranean and LNG terminals (existing and new LNG terminals in Greece and Turkey).

2025 is realistic date for EU accession of new members from Western Balkans, only if membership requirements are met: Commissioner Johannes Hahn

2025 is a realistic date for EU accession of new members from the Western Balkans, but only if membership criteria and requirements are met prior to joining, the Commissioner for European Neighborhood Policy and Enlargement Negotiations Johannes Hahn said in an interview for the German newspaper Die Welt. The motto is quality before speed, Johannes Hahn said. According to Commissioner Hahn, the agreement between Macedonia and Greece may influence positively the dispute between Serbia and Kosovo and lead to a breakthrough in EU accession of the Western Balkans. Earlier, Austria’s Chancellor Sebastian Kurz said at a meeting in Belgrade with Serbia’s President Aleksandar Vučić that the EU would be complete only when Western Balkan countries become part of it.

Greece expects higher revenues from tourism

Greece’s revenues from tourism could rise by up to EUR 2 billion in 2018 due to a surge in the number of visitors, the country’s Tourism Minister Elena Kountoura said projecting a fourth consecutive year of growth for the industry. Tourism accounts for nearly a quarter of the economic output in Greece, which is recovering from a long-running debt crisis. The Greek government is expecting strong economic growth following this country’s exit from the bailout programme in August. According to data of the Greek Central Bank, the revenues from tourism amounted to EUR 14.6 billion last year. Arrivals, including cruise shipping, are expected to rise to 33 million people in 2018 from 30.2 million visitors in 2017.

Annual inflation in Turkey surges to 25% in October

Annual inflation in Turkey surged to 25% in October, hitting its highest in 15 years. Consumer prices rose 2.67% month on month, data of the Turkish Statistical Institute shows. The October inflation was driven by 12.74% month on month increase in clothing and shoes prices and 4.15% surge in home prices. On a yearly basis, biggest price hike was registered in furnishing and household equipment- 37.92%. Last month Turkey’s Central Bank left its benchmark interest rate unchanged after a sharp hike in September and as tension with USA eased, helping the Turkish currency (Lira) recover slightly. On October 31 Turkey’s Central Bank forecasted that year-end inflation would reach 23.5%.

Dialogue between Belgrade and Pristina in standstill due to Kosovo’s customs tariffs on Serbian goods

The new round of negotiations between Belgrade and Pristina did not yield results. Serbia’s President Aleksandar Vučić said after the meeting in Brussels with the High Representative of the European Union for Foreign Affairs and Security Policy Federica Mogherini and Kosovo’s President Hashim Thaçi that dialogue cannot continue until Kosovo cancels customs tariffs on in the imports of Serbian goods in Kosovo and other “illegal decisions”. “When somebody threatens to send troops to the north, introduces tariffs and violates the CEFTA agreement, how can one expect us to agree on anything”, Aleksandar Vučić said after the meeting. “The Serbian discourse was arrogant and aggressive and the dialogue cannot continue with ultimatums”, Kosovo’s President Hashim Thaçi said.

Religious neutrality of state does not contradict to the age-old traditions of Greek people: Premier Alexis Tsipras

The amendments to the constitution, providing for the religious neutrality of the state do not contradict to the age-old traditions of the Greek people, Premier Alexis Tsipras said. On October 2, the ruling coalition headed by radical left Syriza introduced draft amendments to the constitution in the parliament. The ruling coalition proposed to “modernize” article 3 and enshrine the state’s religious neutrality in law, while maintaining “recognition of the Orthodox Church as the dominant religion for historical and practical reasons”. 98% of the Greek citizens are Orthodox believers and such changes are viewed as revolutionary.

Compiled by: Manuel Savov

English version: Kostadin Atanasov