The crisis in the Middle East has already cost the European Union<\/b> some 35 billion euros, Apostolos Tzitzikostas estimated.<\/p>\n
On the geopolitical developments in the Middle East<\/b>, their impact on the European economy and tourism,<\/b> but also on the new strategy of Europe around defence<\/b> and military mobility conversed<\/b> with the European Union Commissioner for Sustainable Transport and Tourism, Apostolos Tzitzikostas<\/b> and FT journalist Eleni Varvitsioti, opening the second day of the conference organised by Financial Times and Kathimerini.<\/b><\/p>\n
Tzitzikostas appeared reassured<\/b> about the supply of jet fuel<\/b> in Europe, stressing that there is no evidence that Europe is at risk<\/b> of running out. “Citizens should not be worried,” he said, explaining that 70% of fuel<\/b> is produced within Europe, while only 20%<\/b> is imported<\/b> from the Gulf region. At the same time, he noted that the EU has strategic emergency reserves,<\/b> which can be activated if needed. He admitted, however, that the major challenge<\/b> at the moment is the surge in prices<\/b>, which have over doubled<\/b> in two months, causing pressures<\/b> on airline companies<\/b> and cancellations of routes<\/b> that are no longer considered economically viable.<\/p>\n
Referring to tourism<\/b>, he pointed out that despite the difficulties, Europe<\/b>was still the world’s top destination. “Europe<\/b> remains the world’s top destination in number of tourists<\/b>,” he said, estimating that there would be a slight increase in arrivals in 2026, albeit lower than initial expectations. He admitted that the European tourism market would be shocked<\/b> by a decline in arrivals from Asia<\/b> and a drastic drop in passenger traffic through the Gulf airports, which are currently operating at about 50% of their capacity last year. At the same time, he appeared optimistic that these losses<\/b> would be partly offset by a boost in intra-European tourism, as more Europeans are expected to choose destinations within the continent.<\/p>\n
The commissioner also sought to reassure travellers,<\/b> stressing that European rules on passenger rights provide full protection in cases of cancellations<\/b> or travel problems. “Passengers are covered and should not feel they are at risk<\/b> if they choose Europe as a destination this year,” he said, noting that the European Commission<\/b> has already issued guidelines for airlines and tourism operators.<\/p>\n
He particularly stressed the economic cost of the crisis in the Middle East<\/b>. According to Commission<\/b> estimates, the crisis has already cost the European Union around \u20ac35 billion, while the increase in energy costs alone is costing the economy around \u20ac500 million a day. He even warned that if the war continues and the Strait of Hormuz remains closed, the possibility of a global recession cannot even be ruled out: “If the war does not end in the next few weeks and the Strait of Hormuz is not reopened, I fear that a global recession could be on the table.”<\/p>\n
As he explained, even if hostilities<\/b> were to stop immediately, the real economy<\/b> would need six to eight months<\/b> to return to pre-crisis levels. At the same time, he cited serious risks to energy and fuel prices ahead of winter, and possible impacts on agricultural production,<\/b>as a significant proportion of fertilizer comes from the Gulf region. In this context, he explained that the European Commission is examining all possible scenarios<\/b> and has already allowed member states to subsidise up to 70% of the difference in fuel prices in order to support households and businesses.<\/p>\n
Asked about the possibility of a new common European loan,<\/b> similar to that of the pandemic period, Tzitzikostas replied that “everything is on the table”, specifying that decisions will be taken depending on the course of the crisis in the Middle East. He also made a special reference to the importance of transatlantic relations, stressing that cooperation between Europe and the United States is crucial in the current context. “Transatlantic relations are more important today than ever before,” he noted.<\/p>\n
An important part of the discussion was also devoted to the new European strategy<\/b> for military mobility. The commissioner described the plan to create a “military Schengen”, which would allow for the rapid transfer of troops and equipment within Europe. He explained that currently moving troops from western to eastern Europe can take up to months because of inadequate infrastructure and complex licensing procedures.<\/p>\n
The Commission<\/b>, in cooperation with NATO<\/b>, has already identified 500 critical infrastructure projects<\/b>, from bridges and roads to ports, tunnels and airports, which will serve both military and economic needs. “Every euro invested in military mobility will have an impact not only on defence and security, but also on the economy and our citizens,” Tzitzikostas stressed, noting the dual nature of these investments.<\/p>\n
At the same time, the new regulation provides for therapid issuance of permits for the movement of troops<\/b> between member states within hours, instead of weeks or months. The aim, he said, is “to reduce the time needed to move troops and equipment from months to days.”<\/p>\n
Finally, the commissioner stressed that Europe<\/b> is in a phase of profound change<\/b>, with defence and competitiveness now the key priorities. “From crisis to crisis, Europe is growing stronger, maturing and changing,” he said, adding that the Union is now moving more pragmatically and with a greater emphasis on speed and efficiency. In this context, he announced that the European Commission’s goal is to reduce European bureaucracy by 30% by the end of next year to make Europe more flexible and competitive in the new geopolitical environment.<\/b><\/p>\n","protected":false},"excerpt":{"rendered":"
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