Prime Minister Kyriakos Mitsotakis had a discussion focusing on international developments and the economy with the President of the European Council, Antonio Costa, at the Delphi Economic Forum.

The discussion focused on the course of the European economy, but also on developments in the Middle East, with particular emphasis on the geopolitical challenges that Europe is facing. It was moderated by CNN journalist Fred Pleitgen.

The Prime Minister described the period as “extremely critical”, noting that the international community faces the risk of a broad crisis that could affect supply, energy prices, agricultural production and overall economic stability.

“I call on everyone to be pragmatic and have a plan b in case the crisis is extended, as no state will be able to support the economy without European support,” he said, sending a message to European partners.

“We are probably facing a crisis of major proportions. It is only a matter of time if the blockade in the Strait of Hormuz continues that we will have major disruptions in the supply of oil and products, we will have significant increases in energy prices, shortages of fertilizer, increased inflation and reduced growth,”

“Greece is doing better than other European countries, but we will not be unaffected by a crisis of this magnitude,” he said, referring to the pressures the crisis in the Middle East is causing on the daily lives of citizens and the economy.

Mitsotakis and Costa agreed that only a ceasefire would “return us to the situation before the war. An open shipping route cannot be subject to fees, so we must support a diplomatic solution.”

The Prime Minister said that “Europe cannot be limited to wishes or an expectation of a rapid normalisation, but must organise its response. We must prepare for the worst-case scenario, which we saw in Ukraine. This crisis is an opportunity to redefine our position on our strategic autonomy and energy security.”