The economic crisis in Greece, which continues to undermine the EU’s joint currency, the Euro, and which has forced Germany and other countries to provide Greece with enormous financial aid packages, has increased the international attention on Greece’s massive commercial fleet.
Most recently, the EU Commission has asked Greece to explain how the country’s tax system affects the shipping industry, an important industry for Greece. An industry that, according to the newsletter EUBusiness, is run by the wealthiest people in the country.
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In the drama surrounding the merger between tanker majors Euronav and Frontline, one of the arguments from Euronav’s biggest shareholder, the Saverys family, is that the merger will pull Euronav in the wrong direction on the green agenda. Euronav tells ShippingWatch that the company rejects this criticism.