At 10:30 Prime Minister Kyriakos Mitsotakis will announce new economic support measures for society to address the impact of the war. The measures will be detailed at 1:30 PM in a press conference by National Economy and Finance Minister Kyriakos Pierrakakis and Deputy Minister Thanos Petralia.
Emergency Mitsotakis announcement: What the prime minister is expected to address
As reported by Kostas Papachlimintou for parapolitika.gr, regarding the KYSEA meeting scheduled for 11:00 AM, beyond its agenda but at the top of the government’s priorities is mitigating the inevitable economic impact caused by the war. Mr. Mitsotakis has again requested Brussels to present “a specific toolkit, capable of offering temporary and targeted support to households and businesses,” while committing that “in the coming days, additional interventions will follow to support industry and address energy costs.” It’s worth noting that in the Summit conclusions text, “the European Council calls on the Commission to continue reporting to the Council on the potential impact of recent developments on the EU regarding energy security and energy prices, supply chains and migration, and to propose measures as appropriate.”
Specifically regarding fuels, it calls on the Commission “to present without delay a toolkit of targeted temporary measures to address the recent sharp increases in imported fossil fuel prices due to the Middle East crisis.” As Kyriakos Mitsotakis subsequently noted, this reference “opens the door for more flexibility in taking measures, both national and European, to address this extraordinary crisis.”
Since the Commission’s toolkit includes the notorious escape clause, this would allow Greece to exceed the agreed spending limit and either reduce the special consumption tax on fuels (less likely scenario) or activate the so-called fuel pass (more likely scenario). In any case, the government maintains a wait-and-see stance pending developments and carefully weighs its options.
