Statement by the Minister of Finance, Makis Keravnos, on arrival at the Economic and Financial Affairs Council (ECOFIN):
"Minister of Finance, Mr. Makis Keravnos, on arrival at the Economic and Financial Affairs Council (ECOFIN) stated:
“Armed conflicts are escalating and the energy crisis has reached its peak, threatening our households and businesses and, I would go as far as to say, the Republic itself. There is therefore an urgent need for action and for solutions to support our citizens and our businesses.
I expect the European Commission to respond to the calls of all Member States. A way must be found to allow for additional spending, through greater flexibility in the current economic governance framework, so that we can support our economy, our society and our citizens.
Citizens’ needs are rising in line with inflation, which in turn drives up expenditure. We therefore cannot remain bound by an economic governance framework that does not consider inflation, which is currently rising sharply. I expect further discussion on this and that a solution will be found.”
