Concern in Athens Over EU’s Response to US Tariffs

There is growing concern in Athens regarding the European Union’s response to the ‘storm’ caused by US tariffs. The Greek government is urging Brussels not to react impulsively or drastically. Prime Minister Kyriakos Mitsotakis emphasized during a meeting of the Government Economic Policy Council that imposing European tariffs in retaliation could trigger a new wave of inflation. Greece advocates for a balanced European response, recognizing that each country will strive to protect its own products. However, achieving a unanimous decision across Europe remains challenging. While Greece’s exposure to the American market is relatively limited, the government remains vigilant about potential indirect impacts on the Greek economy if major European countries are affected by US tariffs. In an effort to safeguard national interests, Greece plans to enhance investment tools, attract new capital, and further open markets like India. The Development Minister Takis Theodorikakos is preparing a new development law aimed at boosting processing industries, particularly in border and weaker regions. Additionally, reforms in quality policy (ELOT) and measures to reduce bureaucratic burdens for businesses are underway.