Michael Arghyrou, chief economic adviser to Prime Minister Kyriakos Mitsotakis, said increasingly frequent and severe extreme weather events pose a growing fiscal challenge for Greece and the wider Mediterranean region. The government is responding with investment in water and energy infrastructure in tourism hotspots such as Mykonos and Santorini, while also seeking private capital for resilience projects.

Greece is also looking at ways to expand insurance coverage for climate-related losses affecting households and businesses, although it does not currently plan to issue catastrophe bonds.

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