The Minister of National Economy and Finance and president of the Eurogroup, Kyriakos Pierrakakis, will travel to Paris next Monday (May 18) to participate in the summit of Finance Ministers and Central Bank Governors of the G7, which will take place on May 18-19, under the presidency of France, in the French capital.
Pierrakakis heads to Paris for G7 summit as Eurogroup president
The Greek Minister of National Economy and Finance and Eurogroup president will participate in the G7 summit, which will focus on global economic developments and particularly the macroeconomic implications of the situation in the Middle East. The discussion agenda also includes support for Ukraine and reducing global imbalances.
Kyriakos Pierrakakis: Important opportunity for the European Union to dialogue with international partners
Kyriakos Pierrakakis, ahead of his upcoming participation in the G7 summit, emphasized that “the situation in the Middle East highlights how exposed our interconnected economies are to external shocks. Today’s economic challenges constitute global challenges. In this context, the G7 Finance Ministers’ meeting offers an important opportunity for the European Union to engage in dialogue with its international partners and seek common solutions for the benefit of the global economy.”
“The opening of the Strait of Hormuz and the definitive end of the conflict are of utmost importance for limiting the impact on the economy. The European economy has proven its resilience against this energy crisis. However, the global economy will face pressures, even if the conflict is resolved quickly,” the Eurogroup president emphasized.
Concluding his statement, Kyriakos Pierrakakis noted that “global macroeconomic imbalances must be examined in a broader context. The European agenda for deepening our capital markets to make the European economy more attractive for investment will contribute to shaping more sustainable levels of macroeconomic imbalances. However, reducing these imbalances is the shared responsibility of all the world’s major economic powers.”
