“In a period of international turbulence in markets and prices, it is self-evident that the state must monitor and intervene, ensuring that the situation does not lead to profiteering,” emphasizes Prime Minister Kyriakos Mitsotakis in his weekly review.
He also stresses: “We are therefore proceeding to impose profit margin caps on both fuel -with special arrangements for the islands- and on 61 supermarket products. The measures will be implemented immediately, supervised by the new Consumer Protection Authority in cooperation with the Ministries of Development and Energy, and will be valid until the end of June, with high fines reaching up to 5 million euros. Obviously, no country can single-handedly address an international price crisis. However, it can set market rules so that existing pressure does not turn into unjustified burden for citizens.”
He emphasized that “we are naturally monitoring developments, together with all other European governments. We will act accordingly when there is a clearer picture regarding the crisis evolution and naturally based on the economy’s resilience. The fiscal responsibility of recent years gives us room for intervention today, with the hope of soon achieving de-escalation.”
The prime minister’s Sunday review
Good morning! We’ve already reached mid-March, with developments around us remaining intense.
At the beginning of the week, together with French President Emmanuel Macron, we visited Cyprus and met with the President of the Republic of Cyprus, Nikos Christodoulides. Our presence there was a self-evident act of support for our Cypriot brothers during a difficult period. A clear message that Cyprus is not alone. I said it and I repeat: Greece would stand by Cyprus even if no European partner did so. Fortunately, however, European solidarity and joint defense support in practice showed that Europe can respond to critical moments with unity and determination.
International developments never remain only at the geopolitical level. They almost always affect the economy, transferring pressure to prices and ultimately to citizens’ daily lives. In a period of international market and price turbulence, it is self-evident that the state must monitor and intervene, ensuring that circumstances do not lead to profiteering. We are therefore proceeding to impose profit margin caps on both fuel -with special arrangements for the islands- and on 61 supermarket products. The measures will be implemented immediately, supervised by the new Consumer Protection Authority in cooperation with the Ministries of Development and Energy, and will be valid until the end of June, with high fines reaching up to 5 million euros. Obviously, no country can single-handedly address an international price crisis. However, it can set market rules so that existing pressure does not turn into unjustified burden for citizens.
Regarding the broader economic impacts -beyond prices, we are naturally monitoring developments together with all other European governments. We will act accordingly when there is a clearer picture regarding the crisis evolution and naturally based on the economy’s resilience. The fiscal responsibility of recent years gives us room for intervention today, with the hope of soon achieving de-escalation.
Such periods also remind us of the importance of the energy policy we have followed in recent years. This is because the increased participation of Renewable Energy Sources in the national energy mix that we achieved in recent years significantly strengthens the country’s resilience against international disruptions caused by Middle East tensions on energy prices. Today, the renewable energy sources our country has cover more than 50% of electricity generation and contribute decisively to the lower energy cost that Greece has both in wholesale and retail prices compared to our neighboring countries. We are simultaneously investing in energy storage and natural gas as a transitional fuel, so the energy system remains reliable and stable. Significant steps for the country’s energy security are also the contracts ratified by Parliament with the Chevron and HELLENiQ Energy consortium, opening the way for new investments with significant economic and geopolitical implications.
However, in an era of major geopolitical upheavals, all options must be on the table. As I mentioned at the recent summit convened by President Macron in Paris, Europe cannot achieve its basic goals, such as strategic autonomy, economic competitiveness, and decarbonization, without discussing the role of nuclear energy. One need only see that the low energy prices in the French wholesale market are largely due to the stable base of nuclear energy that protects the French economy from external energy shocks. That’s why Greece must seriously examine whether small modular reactors can have a role in its energy mix. Some refer to my previous statement that rejected conventional nuclear reactors, which I maintain. Small modular reactors constitute different technology, both in terms of safety requirements and investment size, and I believe this option should be examined. We will establish a high-level ministerial committee that will submit specific proposals to the government on this matter.
Changing topics now and, as the weather is already spring-like -for the more impatient, summer is also approaching- let me say a few words about our preparation for this year’s fire prevention period. As I have already mentioned, we are proceeding with the modernization and upgrade of seven Canadair CL-415 aircraft. The relevant contract signed a few days ago provides for the installation of modern avionics equipment -the so-called “glass cockpit”- as well as overall operational upgrade of the aircraft, so our fleet continues to operate with high safety and reliability standards for many more years. I should also remind that the delivery of seven new Canadair CL-515 aircraft is imminent and, together with the remaining 7 upgraded ones we will start receiving from March 2027, we will be the country with the largest worldwide fleet of this type. This contract completes all aircraft procurement that was included in the AEGIS program and implemented by the PPF, the strategic project maturation mechanism of the State Assets Development Fund.
After two years of preparation, the cross-checking system for vehicles operating without insurance or without paying circulation fees now enters full implementation. Approximately 300,000 owners received notifications for their debts and fines, as repeated notifications to comply had preceded without result. A total of 297,561 notifications are being sent: 125,051 for uninsured vehicles and 172,510 for non-payment of 2025 circulation fees. The total amount of debts and fines amounts to approximately 109.5 million euros. Those who believe there is an error can submit an objection electronically through the “Cross-checking Controls” application at oximata.gov.gr. However, on such matters there can be no tolerance. Rule compliance is a matter of justice for everyone and, primarily, a safety issue on the roads.
The government is proceeding with implementing a new, more modern way of supporting the most vulnerable households. The old food distribution system through many intermediaries is being replaced by a digital card given
