{"id":2385,"date":"2026-04-24T13:09:00","date_gmt":"2026-04-24T10:09:00","guid":{"rendered":"https:\/\/en.tomanifesto.gr\/?p=2385"},"modified":"2026-04-24T13:09:00","modified_gmt":"2026-04-24T10:09:00","slug":"the-dombrovskis-pierrakakis-debate-at-delphi-the-eu-energy-plan-video","status":"publish","type":"post","link":"https:\/\/en.tomanifesto.gr\/?p=2385","title":{"rendered":"The Dombrovskis-Pierrakakis debate at Delphi: the EU energy plan (video)"},"content":{"rendered":"

A stabilising inflationary shock<\/b> from the crisis in the Middle East<\/b> was mentioned by Valdis Dombrovskis<\/b>, from the 11th Delphi Economic Forum, where he participated in a panel with Kyriakos Pierrakakis<\/b>.<\/p>\n

Economic Affairs, Productivity, Implementation and Simplification Commissioner Valdis Dombrovskis said that under one scenario there would be an adverse impact on the European economy<\/b>, depending on how long the crisis lasts and how severe the shock is, from 0.2 to 0.6 points, while under another scenario it would be more than 1 point.<\/b><\/p>\n

According to him, it is planned in Europe the release of oil<\/b> stocks, while there is a risk for aircraft fuel, given that in Europe 70% is produced and 30% is from imports.<\/b><\/p>\n

However, he said, this is not the time for the escape clause<\/b>, as we are not in the scenario of a severe economic downturn. So, the message should be temporary and targeted, taking into account the fiscal constraints on debt and deficit. Fiscal space, he said, is limited and therefore fiscal measures should be temporary and targeted.<\/b> He set out two main priorities, enhancing competitiveness and strengthening security and defence.<\/b> At the same time, he noted that this is not the time to ease sanctions against Russia.<\/p>\n

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The biggest energy crisis in history<\/h3>\n

For his part, Minister of National Economy and Finance and Eurogroup chairman Mr. Pierrakakis, called it the biggest energy crisis in history, as in addition to the reduction in fuel there is also the impact on assets in the region, with 30 out of about 80 in total affected. However, he added that Europe is more stable and resilient by 2022<\/b> and we need to be calm. He said a concerted effort is needed on the fiscal side, but not in opposition to monetary policy. Measures, he said, need to be temporary and targeted, while a long-term investment in networks and interconnections is needed. Adding that the challenges are still ahead.<\/p>\n

According to the minister, we need to know what worked in 2022 and what did not, and act accordingly. He said we need to plan for defence capability and develop the single market<\/b>. And he reiterated the need for a Savings and Investment Union, including banks. As he said, I prefer the word “sovereignty” to “autonomy” for Europe. Andhe used a quote from Frank Sinatra that “if you can do it there, you can do it anywhere.”<\/b><\/p>\n

Asked about additional support measures for Greece, he said that a package was announced two days ago targeting the most vulnerable and those in need of help, and “we do not intend to announce another package of measures at this time.”<\/b> And he referred to the situation in the Greek economy, with high primary surpluses and a rapidly declining debt.<\/p>\n

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A stagflationary shock from the crisis in the Middle East, Valdis Dombrovskis said at the 11th Delphi Economic Forum, where he participated…<\/p>\n","protected":false},"author":1,"featured_media":2386,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[7],"tags":[],"class_list":["post-2385","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy"],"acf":[],"_links":{"self":[{"href":"https:\/\/en.tomanifesto.gr\/index.php?rest_route=\/wp\/v2\/posts\/2385","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/en.tomanifesto.gr\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/en.tomanifesto.gr\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/en.tomanifesto.gr\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/en.tomanifesto.gr\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=2385"}],"version-history":[{"count":0,"href":"https:\/\/en.tomanifesto.gr\/index.php?rest_route=\/wp\/v2\/posts\/2385\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/en.tomanifesto.gr\/index.php?rest_route=\/wp\/v2\/media\/2386"}],"wp:attachment":[{"href":"https:\/\/en.tomanifesto.gr\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=2385"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/en.tomanifesto.gr\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=2385"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/en.tomanifesto.gr\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=2385"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}