Amidst the generalised uncertainty in the global economic confluence of events – and the uncertainty caused by Greece’ three-month electoral campaign - last thing one wants is turbulence in the financial system.
The necessary expansion and improvement of the basket of products for which price increases will be eliminated or limited over the holidays is a measure that offers care and support for families.
The war and its accompanying crises are testing the endurance of governments, which are obliged to manage galloping inflation, the decline in citizens’ income, and growing inequalities.
Despite the imponderable factor of external challenges and high inflation, growth projections facilitate a broad spectrum of reforms that could improve the lives of citizens.
The PM described main opposition SYRIZA as a populist party that makes unfeasible pledges in a variety of areas, and suggested that a SYRIZA government would jeopardise the country’s economic progress.
The only response to new challenges and to those who would like to see precarious conditions and new experiments in our country is for the government to serve out its four-year term.
Mr. Mitsotakis has a duty to tell the whole truth about the raging EYP surveillance scandal and to allow the judiciary, unhindered, to conduct an in-depth investigation.
Rumours of snap elections over many months, for which the opposition is mainly responsible, had led many ministers to neglect their jobs and focus on their re-election campaigns.
Under the previous government, the middle class was battered by heavy taxation that was part of a class-based bias. Today, its protection must be a top priority.
The prospect of new assistance packages that the finance minister has left open will offer those in need an important breather as autumn approaches.
We are living in an unstable period in terms of geopolitics, energy, and the economy. There is global insecurity and uncertainty, and there is no end in sight with the war in Ukraine
The Draghi-Mitsotakis meeting was important because the Italian PM and former ECB president has a prominent position in the architecture of the EU.
'When we highlight Turkish expansionism in the Eastern Mediterranean we juxtapose it to a degree to what happened between Russia and Ukraine, 'the PM said.
As the war in Ukraine continues, one may well see the establishment of a permanent economic crisis chain, with severe pressures on Greece and all of Europe.
The imminent end of the EU's enhanced fiscal supervision cannot be interpreted as an opportunity to loosen fiscal discipline or backtrack on collective objectives.
In the current quarter, despite an initial positive dynamic in the tourism sector, inflationary pressures and skyrocketing petrol prices already pose a great danger,
Despite the raging war in Ukraine and its impact on all of Europe, reforms must be implemented swiftly in all areas, especially ones delayed for years.
The most vulnerable social groups are being battered by price hikes and a looming recession, and inflation is sapping the income of citizens in lower income brackets.
In the current war and the resulting international political crisis, the PM adopted a clear and direct stance against the Russian invasion and its revisionist foundations.
Projections so far regarding how Greece’s summer tourist season will fare, despite difficult economic conditions and the war in Ukraine, suggest that it will return to pre-pandemic levels.
Greece is not confronting the current crisis as a lamb to be slain. It has climbed up to Golgotha many times over the last years, and now it deserves a national resurrection.
Greece, like the rest of the planet, is facing successive crises that create a protracted period of uncertainty for which everyone – society and the political system – must be suitably prepared.
With a plan combining gas extraction with the green economy that will be attractive for companies, the entire mix will be ideal and will obviously upgrade Greece geopolitically.
It is up to us – the Greek people and the country’s political and economic leadership - to honour and exploit to the greatest degree possible Greece’s natural resources.
The responsibility for dealing with the current economic situation is not only Greek, but also EU-wide, as during the years of the pandemic the Union appeared to comprehend that harsh fiscal rules are not always a prescription for success.
Political parties are obliged by circumstances to put aside their partisan flags and to seek a minimum common ground, at least as regards the management of the many consequences of the ongoing war.
the leadership of the finance ministry and of the entire government must avoid any imprudent expenditure and readjust its economic policy, which must be guided by the durability of choices and fiscal discipline.
Open air athletic stadiums will be allowed to seat 50 percent of capacity (compared to the current 10 percent), restaurants, bars, and nightclubs will be allowed to have customers standing, and the percentage of tele-work will be reduced.
The current government, which came to power in 2019, was not able to implement its electoral platform, as the public health crisis that ensued and its negative impact disorganised everything.
A breather through tax cuts for the middle class is necessary. That is not only because it was a central plank in the government’s electoral platform, but also because it is yet another way to support labour.
There is also a more optimistic and dynamic picture of our country, exemplified by the arrival of JP Morgan CEO Jamie Dimon in Greece, in the context of the purchase of a stock package of a Greek advanced technology company.
In our country, what is exceptionally problematical is the explosive rise in the price of natural gas (135 percent), electricity (45 percent), and heating fuel. They comprise an extremely sensitive whole that can trigger a new inflationary cycle.
SYRIZA’s spokesman reiterated proposals for a minimum wage hike, lowering the special consumption tax, and intervention in the pricing of the Public Power Corporation (PPC) in order to stem inflation.
To the extent that monetary policy changes in order to manage the possible consolidation of inflationary pressures, the Greek economy will confront additional difficulties – funding and others.
Inflation, either in basic goods or energy, creates a chain reaction of repercussions in the entire economy, decreasing consumption, and aggravating the situation for already burdened businesses.
Διαχειριστής - Διευθυντής: Λευτέρης Θ. Χαραλαμπόπουλος
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