Its position that a review of the European Union's fiscal policy is needed in the light of the ambitious objectives at European level in the direction of «green transition», the Prime Minister reiterated, Kyriakos Mitsotakis, intervening in the online debate on «Climate change: an existential crisis». Mitsotakis stressed that the previously strict targets of the Stability Pact are now looking outdated and noted that «we will need more funds». He stressed that striking a balance between financing the green transition and fiscal discipline is expected to be the dominant debate at the European Council level next year.
Regarding our country's initiatives in the field of «green» transition, Kyriakos Mitsotakis recalled that two years ago his government announced its decision to end the operation of all lignite plants by 2028 at the latest. He also emphasized the recent filing of the climate law as a mechanism to monitor timetables and ensure that interim targets such as the reduction of emissions by 80% by 2040 will be met. The Prime Minister described the establishment of the European Recovery Fund, citing the 32 billion euros that will flow into Greece over the next 5 years. He stressed that a significant part of the 19 billion in grants will be directed to the green transition and added that the leverage of private capital will also be important.
Regarding the ongoing energy crisis, Kyriakos Mitsotakis emphasized the initiatives to support households against the increase in natural gas, but also the great geopolitical importance of the Eastern Mediterranean as an alternative energy source for the EU. «We need to convince our citizens that renewables are currently the cheapest source of energy, and that the rising price of gas is not an argument that we should continue with coal.», Mr Mitsotakis stressed. «If we do not spend funds to deal with rising energy prices, we risk «losing» our societies, as the green transition will 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 our societies.
In addition, Mitsotakis highlighted the importance of diversifying the sources of natural gas supply of 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 very great geopolitical importance to the events in the Eastern Mediterranean, the EU should 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.
