‘Compass’ in the cloudy new environment formed the day after the enforcement dictatorial by Donald Trump and the frightening turmoil in the world economy is being sought by the government, with the Kyriakos Mitsotakis convene this morning for the first time in years of years Economic Policy Government Council (KYSIP)which is called upon to map the new environment and discuss the challenges of the Greek economy.
“Our country, remaining firmly committed to the principles of free trade, will be actively involved in the co -ordination of the single European reaction to the new reality. And we will fight for our economy to come out as unhappy as possible from this new serious turmoil in the world economy, ” Kyriakos Mitsotakis was indicative of his Sunday post on Facebook.
Today at 10:00 he will discuss all the material with the Deputy Prime Minister of the Government Kostis Hatzidakis (hereinafter the body) and the Ministers of Finance, Environment, Development, Labor, Infrastructure, Shipping, Rural Development, Tourism, Digital Politics.
According to government sources, KYSIP will include, among other things, an assessment of the situation, the analysis of the national reaction, and the EU’s stance will be put on the table, and the EU’s stance will be put on the table. against an apparent economic crisis. Already, however, The EU leadership seems to be willing to pursue a negotiation With the White House in the following days, but it has on the table and ‘bitter’ countermeasures focusing on US technology companies which will, of course, exacerbate the difficulty of the situation.
The consequences
Competent Government Sources point out that Greece may not be so exposed so much export to USAhowever, the secondary consequences of a recessionary “shift” of large European countries, such as Germanythey will also have consequences for us, especially from 2026 onwards.
The scenario of Germany to ‘turn’ to recession scares many in Europewhile also a question that will be progressively raised and at European level is whether European anti-cyclins are sufficient or whether there should be a framework for supporting export sectors of the economy.
In this environment with the “troubled” waters, Kyriakos Mitsotakis points out that it is not time for experimentation. Especially when the alternative of the opposition here is vague and virtually non -existent since the ejecting of Zoe Konstantopoulou’s party who does not want to “play” in conventional terms and with the other parties (PASOK, SYRIZA, etc.).
Pierrakakis: “Rounds of escalation”
To finance ministry They map the new environment, in the light of that the World Trade War is not favoring anyone, and estimates that the Greek economy will demonstrate resilience, given that it starts from a better point in relation to the European economy.
“It is a given that the effects will be negative. But they cannot yet be valued. There is likely that there will be multiple rounds of escalation, “the Finance Minister points out in” THEMA “ Kyriakos Pierrakakiswho is called upon to move on to a “narcoted” international environment. He himself, however, is of the view that Europe should insist on a single answer, without “cracks”.
Next Friday, the Minister of Finance will travel to Poland in order to participate for the first time with his new status in Eurogroup and in ECOFINwhere the debate is now expected to rotate around Europe’s new reality. “The reaction of the stock markets is reminiscent of the early days of Covid,” says a government source at “THEMA”, while a other government source adds as an additional concern the weakening of the Dollarium, which in the past was a safe monetary shelter.
Silver: “Difficult quantitative estimates”
“The announcement of duties on US imports signifies, since they are actually implemented in the long run, a change of model in the global commercial, and thus economic, system. At this stage, it is difficult to make quantitative estimates of the impact of duties on global development. Certainly the reaction of international markets shows that they discount a large size, especially for the American economy. But we still do not know what will be the reaction of other major trade forces, especially the European Union, “the Prime Minister’s Director of the Financial Office said in a statement to” THEMA ” Michaliswhich adds that “the US communication channels must be kept open and efforts to be made so that the chapter of tariffs closes as soon as possible.”