Greek police fire tear gas at protesting farmers threatening to blockade Thessaloniki airport

Riot police fired tear gas as hundreds of Greek farmers — some 200–300 protesters with more than 100 tractors — attempted to block the main access road to Thessaloniki airport amid wider blockades at border crossings and key motorways that have already backed up freight and threatened ports and airports; police have imposed diversions while farmers periodically halt traffic. The unrest is driven by delays in EU-backed agricultural subsidy payments while authorities review claims following an EPPO probe that identified 324 recipients of €19.6m in suspect payments and prompted the resignation of five senior officials and the phased shutdown of a subsidy agency; farmers, also hit this year by a goat and sheep pox cull, say the payment freezes leave them bankrupt and unable to plant, risking next season’s output and urban food supplies, and the government says it is open to talks but will not tolerate major transit shutdowns.

Analysis

Riot police used tear gas as 200–300 farmers with more than 100 tractors attempted to block the main access road to Thessaloniki airport, part of wider tractor blockades at border crossings with Bulgaria, Turkey and North Macedonia that have already backed up freight and prompted traffic diversions. Protesters tie the unrest to delays in EU-backed subsidy payments while authorities review claims after an EPPO probe identified 324 recipients of €19.6m in suspect payments, a scandal that prompted the resignation of five senior officials and the phased shutdown of a state subsidy agency.

Farmers report being unable to buy seeds and fertiliser and to plant ahead of the next season, and the sector has also been hit by a goat and sheep pox outbreak and mass culls this year, creating immediate income stress and a risk of reduced agricultural output. Government officials say they are open to talks but will not tolerate shutdowns of major transit points, creating a political standoff that could determine the speed of payments or escalation of blockades.

Near-term market implications include heightened logistics and supply-chain disruption risk for Greek freight, ports and urban food supplies, and the potential for agricultural supply-side shocks if planting is delayed at scale. Key catalysts to monitor are the timetable for subsidy payments, further EPPO findings or prosecutions, the durability of blockades and any government policy response to restart payments or compensate affected farmers.

Key Decisions for Investors

• Monitor developments in subsidy payments and EPPO actions as primary near-term catalysts and reassess exposure if payments are resumed or further prosecutions are announced
• Reduce or hedge short-term exposure to Greek logistics, freight-dependent issuers and domestically focused food producers until traffic and subsidy flows normalize, given demonstrated risk of transport disruptions
• Watch planting-season indicators, fertiliser and seed procurement reports and local food price trends for signs of crop shortfalls that could create commodity price upside or idiosyncratic winners among upstream agricultural suppliers