K. Mitsotakis for Stability Pact: It is outdated, we will need more funds

The position that a review of the fiscal policy of the European Union is needed in the light of the ambitious goals at European level in the direction of the “green” transition, was reiterated by the Prime Minister, Kyriakos Mitsotakis, intervening in the online discussion on “Climate change: An existential Crisis “. Mr. Mitsotakis underlined that the hitherto strict goals of the Stability Pact now seem outdated and noted that “we will need more funds”. He stressed that the exercise of balancing the financing of the “green” transition with fiscal discipline is expected to be the dominant debate at European Council level next year.

Regarding the initiatives of our country in the field of “green” transition, Kyriakos Mitsotakis reminded that two years ago his government announced its decision to close all lignite plants by 2028 at the latest. recent submission of the climate law, as a mechanism for monitoring schedules and ensuring that intermediate targets such as reducing emissions by 80% by 2040 are met. The Prime Minister described the creation of the European Recovery Fund as a milestone, citing the 32 billion euros that will flow into Greece in the next 5 years. He stressed that a significant part of the 19 billion of grants will be directed to the “green” transition and added that the leverage of private capital will be important.

Regarding the ongoing energy crisis, Kyriakos Mitsotakis stressed the initiatives to strengthen households in the face of increasing gas, but also the great geopolitical importance that the Eastern Mediterranean is gaining over time as an alternative energy source for the EU. “We must convince our citizens that RES is currently the cheapest source of energy, and that the increase in the price of gas is not an argument that we must continue with coal,” said Mr. Mitsotakis. “If we do not spend money to deal with rising energy prices, we risk losing our societies, as the ‘green’ transition will prove to be extremely painful, especially for the most vulnerable,” the prime minister warned. He insisted that “green” transition policies should have a positive impact on as many citizens as possible, have “tangible results”, he said, in order to contribute to social cohesion and gain the trust of societies. us.

In addition, Mr. Mitsotakis stressed the importance of diversifying the sources of gas supply of the EU member states, citing the memorandum of understanding between Greece and Egypt on natural gas and the electricity interconnection agreement between the two countries. “There is a great deal of geopolitical importance in what is happening in the Eastern Mediterranean, the EU must show more interest in this region not as a gesture of solidarity with Greece and Cyprus, but because developments in the Eastern Mediterranean will be important for Europe’s energy stability.

Source: AMPE