Mitsotakis raises alarm over Hormuz, Turkey and new geography of European security

Three separate interventions - Kyriakos Mitsotakis’s extensive interview on the Financial Times’ Rachman Review podcast, Defence Minister Nikos Dendias’s remarks at a discussion in Athens organised by the Kyklos think-tank on Wednesday, and former foreign minister Dora Bakoyannis’s warning about Turkey’s emerging “Blue Homeland” legislation - delivered a cohesive message to Europe, reflecting Greece’s belief that that the EU needs to step up on strategic and defensive matters.

Financial stability in the age of artificial intelligence: the role of algorithmic architecture

Artificial intelligence (AI) is rapidly transforming financial decision-making. To explore the implications for financial stability we ran simulation-based experiments on two different AI architectures. We found that Q-learning algorithms, a form of reinforcement learning, achieved a high degree of coordination, but were prone to bank run-like dynamics. In contrast, large language models , which rely on contextual reasoning, were less prone to such runs but generated heterogeneous and unpredictable behaviour.

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