Olive oil stocks are almost depleted in Europe, which is bracing for new shortages due to extreme weather events that have adversely affected harvests for the second consecutive year.

It was another difficult night for Volos after the city and wider area were hit by the second catastrophic natural disaster in 20 days, adding to accumulated problems from floods, mud, damaged infrastructure and the despair of thousands of people in the city and its suburbs.

National Economy and Finance Ministser Kostis Hatzidakis referred to the six axes of the economic policy the government intends to implement over its four-years term, speaking on Friday at 'The Third Thessaloniki Metropolitan Summit'. He pointed out that "the wager is to accelerate the pace and essentially converge with the EU average in terms of income."