Greece's Ministry of National Economy and Finance published highlights from a television interview with Minister Kyriakos Pierrakakis, outlining how the government would decide whether to deploy additional measures in response to the Middle East crisis and potential spillovers via oil and gas prices. Pierrakakis said the duration and scope of the crisis would determine the nature of any intervention, cited USD 100 per barrel as an indicative level, and signalled that further measures could be taken beyond an already announced ceiling if needed. He framed any response as protecting citizens, households and businesses, while stressing that the assessment would be qualitative rather than driven by a fixed quantitative trigger. On Europe’s energy market, the interview highlighted the need for a single European energy market and more interconnections, including projects financed by European bodies such as the European Investment Bank, alongside efforts to diversify away from Russian gas. Pierrakakis also reiterated that finance ministers should safeguard the European Central Bank’s independence and avoided commenting on interest-rate decisions; EU leaders were expected to discuss the situation in Brussels on 19 March 2026. The interview also covered domestic economic priorities, including expectations for tourism and major infrastructure investment in Crete. Pierrakakis referred to EUR 4.5 billion of projects on the island and said the Ministry and the Superfund aim to play a catalytic role in planning the redevelopment of the existing N. Kazantzakis airport site, building on initial plans and a business plan prepared by HRADF and in coordination with local communities and authorities.

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