Greece Explores Small Modular Reactors To Boost Energy Security

Greece is taking a significant step towards diversifying its energy portfolio by considering the deployment of small modular reactors (SMRs) for electricity production. This initiative, spearheaded by Prime Minister Kyriakos Mitsotakis, was highlighted during an Economist event with former Italian Prime Minister Enrico Letta.

SMRs, with capacities ranging from 50 to 300 megawatts, offer distinct advantages over traditional nuclear power plants. They are not only smaller and easier to build but also boast enhanced safety features. Their modular nature allows for quick assembly and disassembly, providing flexibility in operations and heightened safety during emergencies. These reactors require significantly less water for cooling, making them more environmentally friendly and suitable for a variety of locations.

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The European Union has been actively supporting the development of SMRs as part of its broader strategy to enhance energy security and transition to cleaner energy sources. This support has gained urgency in the wake of geopolitical disruptions, notably the reduced gas supplies following Russia’s invasion of Ukraine. As part of its commitment, the EU has earmarked €1.38 billion under the Horizon Europe program for research and development in nuclear energy, including SMRs.

Globally, over 80 SMR projects are currently in various stages of development. Countries like the United States, United Kingdom, Canada, Japan, South Korea, Russia, and China are leading the charge in this innovative technology. The modular design and smaller size of these reactors make them an attractive option for countries looking to modernize their energy infrastructure without the significant financial and logistical burdens associated with traditional nuclear power plants.

For Greece, the introduction of SMRs could represent a transformative shift in its energy landscape. By replacing ageing fossil fuel plants with these advanced reactors, Greece could significantly reduce its carbon footprint and enhance energy security. Furthermore, integrating SMRs into the energy grid would complement the country’s growing renewable energy sector, creating a more resilient and sustainable energy system.

However, experts caution that the implementation of SMRs in Greece is a long-term endeavour. While the potential benefits are substantial, it may take up to 20 years for these technologies to become operational in the country. The high costs and extended timelines associated with large nuclear plants make SMRs a more practical and economically viable solution for Greece.

In conclusion, Greece’s exploration of small modular reactors marks a pivotal development in its energy policy. As the country seeks to enhance energy security and transition to a low-carbon economy, SMRs offer a promising solution. By leveraging EU support and global advancements in nuclear technology, Greece could position itself at the forefront of energy innovation, ensuring a secure and sustainable energy future.

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Navigating Persistent Pressures: Labour Shortages, Bureaucracy, And Payment Delays In Limassol

by THEFUTURE.TEAM

December 19, 2025

Labour Shortages Challenge Expansion

Recent data from the Limassol Chamber Of Commerce And Industry underscores the enduring pressure within Limassol’s business community. Rather than indicating a sudden economic downturn, the survey reveals a gradual intensification of challenges that have long been a concern for local enterprises.

Skilled Labour In Short Supply

At the forefront is a chronic shortage of skilled labour, which accounts for 22.5% of the responses. Companies across a diverse range of sectors—from engineering and technical services to professional driving and specialized sales—are grappling with vacancies that remain open for extended periods. The persistent demand for critical skills forces many firms to overextend their existing workforce or postpone strategic projects. While recruiting talent from abroad is increasingly seen as a necessity, the process is often hampered by procedural delays, strict regulatory constraints, and rising employment costs.

Administrative Complexities And Public Sector Frustration

In addition to labour challenges, businesses express deep frustration with public-sector inefficiencies. Slow administrative procedures, fragmented communication, and a lack of clear guidance have rendered government support only marginally effective. With more than half of respondents regarding public services as minimally helpful, the inefficiencies highlight a system that frequently delays critical decisions and complicates routine business processes.

Deteriorating Payment Discipline

The survey also highlights a significant decline in payment discipline, with difficulties in collecting debts now ranking third among business concerns at 11.8%. Late payments are intensifying cash-flow pressures, extending through supply chains and further straining liquidity. Added to this is a sluggish justice system, where prolonged court delays have left companies financially exposed, often shouldering the burden of non-compliant customers while legal remedies lag behind.

Cost Pressures And Cautious Investment

Rising labour costs, intense domestic competition, and the pressure of lower-cost international markets — particularly in Asia — are driving firms to reconsider their investment priorities. Although nearly 60% of businesses intend to hire in the near term, investment plans in infrastructure, technology, and renewable energy are markedly selective. Overall sentiment remains cautious, with two-thirds of respondents expecting sales to stay level, both domestically and in overseas markets.

Calls For Policy Reforms And Digital Transformation

In an environment strained by excessive bureaucracy and inconsistent policy, businesses advocate for decisive governmental action. Respondents have pointed to the need for reduced business taxation, streamlined administrative processes, and more responsive public services. Furthermore, investment in digital transformation, artificial intelligence tools, and enhanced collaboration with academic and research institutions are seen as critical to boosting competitiveness and fostering innovation.

Conclusion: A Need For Strategic Reforms

The autumn 2025 barometer paints a picture of a resilient business community operating under increasing strain. With entrenched labour shortages, administrative inefficiencies, and deteriorating payment discipline, there is a clear call for targeted reforms. Addressing these structural challenges will be essential for ensuring that Limassol’s businesses not only sustain their current operations but also position themselves for future growth in an increasingly competitive global landscape.

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