The Greek Ministry of National Economy and Finance published remarks by Kyriakos Pierrakakis ahead of the Eurogroup meeting in Nicosia, saying ministers would review European Commission forecasts that cut growth expectations and raised inflation expectations but still point to positive growth. He said Europe faces stagflationary pressure rather than stagflation, and that the response to the energy crisis should remain temporary, targeted and tailored so governments can support vulnerable groups without allowing the shock to become a fiscal crisis. Pierrakakis said support measures are already being applied at national level within each member state's fiscal capacity, with finance ministers continuing to coordinate closely as bond market volatility persists and the outlook could worsen if the Strait of Hormuz does not reopen in June. He cited International Monetary Fund analysis that energy measures introduced since 2020 reduced the impact by 12 percent, and said any new steps should also fit longer-term energy policy. The Eurogroup was also due to begin exchanging approaches on housing and discuss the European Parliament timetable for adopting a digital euro with Aurore Lalucq, based on the European Central Bank's proposed 2029 horizon.
Ministry of National Economy and Finance (Greece)2026-05-22
Greece's Ministry of National Economy and Finance sets out Eurogroup agenda on targeted energy support housing coordination and the 2029 Digital Euro
The Greek Ministry of National Economy and Finance said Eurogroup ministers will review European Commission forecasts that lower growth and raise inflation expectations, with Kyriakos Pierrakakis warning of stagflationary pressures and urging temporary, targeted energy crisis measures to avoid a fiscal crisis. He stressed support must match national fiscal capacity amid bond market volatility and cited International Monetary Fund analysis that energy measures since 2020 reduced the impact by 12 percent, adding that any new steps should align with longer-term energy policy. The Eurogroup will also exchange approaches on housing and discuss the timetable for adopting a digital euro, based on the European Central Bank’s proposed 2029 horizon.