Greece's Ministry of National Economy and Finance announced that Kyriakos Pierrakakis, who also serves as President of the Eurogroup, will travel to Paris to attend the G7 meeting of finance ministers and central bank governors on 18 and 19 May under the French presidency. The discussions will focus on the global economy, with particular attention to the macroeconomic effects of the situation in the Middle East, as well as support for Ukraine and the reduction of global imbalances. In remarks issued ahead of the meeting, Pierrakakis said the Middle East crisis shows how exposed interconnected economies are to external shocks and described the G7 meeting as an opportunity for the European Union to engage international partners on common solutions. He said keeping the Strait of Hormuz open and bringing the conflict to a definitive end are critical to limiting the economic impact, while warning that the global economy will remain under pressure even if the conflict is resolved quickly. He also said that deepening European capital markets could help make Europe more attractive for investment and support more sustainable macroeconomic balances, but that reducing those imbalances is a shared responsibility of the world's major economies.

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