The Greek government is prioritizing household income support as part of a coordinated strategy to tackle inflation—driven in large part by energy price shocks and the ripple effects of geopolitical tensions in the Persian Gulf, including the recent U.S.–Iran conflict. The plan unfolds across three interconnected pillars: curbing everyday costs, easing debt burdens for consistent payers, and implementing tax reductions.
Global Supply Ripples and the Road to Stability
Even if recent diplomatic developments—including the agreement between former U.S. President Donald Trump and Iranian leader Masoud Pezeshkian—lead to a swift normalization of oil flows through the Strait of Hormuz, experts caution that the damage to global supply chains won’t vanish overnight. A period of adjustment will be needed before inflation returns to pre-crisis levels. This outlook aligns with European Central Bank President Christine Lagarde’s recent decision—announced two weeks ago—to raise eurozone interest rates by 0.25 percentage points.
Fighting High Prices at the Checkout
In this context, the government launched posokanei.gov.gr, a new public price-comparison platform aimed at empowering consumers. The tool allows Greek shoppers to compare prices of identical products across major supermarket chains in Greece—and even benchmark them against prices in other European Union countries.
This initiative forms part of a broader anti-inflation priority. Already in force is a profit-margin cap on essential goods sold in supermarkets—a measure initially announced to remain in effect until the end of the month. Further interventions are expected to be finalized in the coming weeks.
Enforcement remains key: the Independent Authority for Market Oversight and Consumer Protection continues conducting market inspections. At the platform’s launch, Prime Minister Kyriakos Mitsotakis stressed that “unjustified or disproportionately high prices in Greece compared to other EU markets cannot be easily tolerated—unless they are explained with absolute clarity.”
Debt Relief for Vulnerable Households
Parallel to cost-of-living measures, the government has introduced new safeguards for indebted households—especially those most at risk. These go beyond the recently expanded 72-installment debt settlement scheme. Crucially, the minimum debt threshold for eligibility in the extrajudicial debt restructuring mechanism has been lowered from €10,000 to €5,000. This change opens access to favorable repayment terms for significantly more families—helping them protect their primary residence.
Another positive step is the appointment of an interim administrator for the Real Estate Acquisition and Lease-Back Agency (RAELA), which is set to become operational shortly.