More measures, if required

Kyriakos Pierrakakis does not regularisation retired the anticipation of further measures successful the lawsuit that the vigor situation escalates owed to the struggle successful the Middle East.

Speaking at the 11th Delphi Economic Forum connected Friday, the Greek Finance Minister and Eurogroup president said that though there is presently nary program to denote a caller bundle of interventions, if the situation worsens the state has the indispensable ammunition to support further measures, within the fiscal rules.

“But we are not there yet. I marque it perfectly clear,” helium rushed to add, recalling that definite measures had been announced conscionable two days earlier.

At European level, Pierrakakis drew a parallel with what had happened successful the vigor situation of 2022: “Many of the measures we implemented did not work and had the other effect. Now we cognize this and that is why we person defined a framework,” he pointed out. “With the figures we person to date,” helium continued, “it makes nary consciousness to bash thing more, due to the fact that it would beryllium counterproductive.”

However, helium clarified that Europe is successful a overmuch amended presumption than it was successful 2022, arsenic there is simply a diversified vigor mix.

For his part, Valdis Dombrovskis, European Economy Commissioner, acknowledged that the struggle successful the Middle East has antagonistic impacts, estimated astatine 0.2 to 0.6 percent points for the European economy. At the aforesaid time, citing scenarios under consideration, helium estimated an summation successful ostentation by much than 1 percent point, warning of the improvement of stagflation. However, helium reserved the close to update the economical forecasts successful the 2nd fractional of May, when “we cognize amended what precisely is happening.”

Asked astir the main occupation of the crisis, helium said the principal worry does not interest the availability of energy, but the terms of energy: “We are presently coordinating the merchandise of lipid reserves, successful bid to maximize the affirmative interaction connected the market,” helium said.