Greece set to unveil measures to support citizens

The government is planning to announce measures as early as this week aimed at supporting citizens and shielding them from profiteering practices.

Possible measures under consideration include the imposition of a cap on profit margins for fuel, as well as in supermarkets, while additional interventions have not been ruled out.

The price of oil is moving higher, reaching 100 dollars per barrel, intensifying concern at a global level. Fuel prices are following a similar path, with the price of oil even exceeding the price of unleaded in some cases, putting the economic staff on alert.

The new European fiscal rules allow flexibility in times of crisis, but at the same time require careful management of public spending. At the same time, a scenario with an oil price of 100 dollars per barrel has been incorporated into the 2026 budget. In this case, inflation could increase to 4.7%, negatively affecting private consumption.

The duration and type of crisis

The determining factors for any decisions are the duration and type of crisis. European countries, including Greece, declare that they have the tools to address the crisis.

Greek Finance Minister and Eurogroup chief Kyriakos Pierrakakis stated following the Eurogroup meeting:

“The EU has a history of internalizing crises and developing new tools. Since Russia’s invasion of Ukraine, we have developed crisis tools, but we are not yet at the point of activating them. We need stability to think about the appropriate actions. The message is that we have the tools and the political will to react, if necessary.”