Prime Minister Kyriakos Mitsotakis touted a Greek proposal for EU fiscal flexibility as European leaders remain divided over how to address rising energy costs.
Key facts
- •The EU summit ended in a standoff between Southern states and a group including Germany and the Netherlands over fiscal policy.
- •The Greek proposal aims to allow surplus-running countries to offer targeted support during the energy crisis.
- •Heating oil subsidies will benefit nearly 1.2 million households in Greece.
- •Pump prices for diesel and unleaded fuel will be reduced until October 31 without income criteria.
- •The next EU summit to discuss the fiscal proposals is set for November 26.
Prime Minister Kyriakos Mitsotakis highlighted a Greek proposal for emergency fiscal rule adjustments following a Brussels summit that exposed deep divisions among EU member states. While Southern European nations and Poland pushed for increased spending capacity to combat energy costs, a group led by Germany and the Netherlands resisted fiscal loosening. The issue has been deferred to the next summit scheduled for November 26.
By the numbers
Greek Proposal for Fiscal Flexibility
The Greek plan seeks an emergency adjustment of EU fiscal rules during the energy crisis. This would allow countries currently running surpluses to provide targeted support to households and businesses. EU leaders have requested that the European Commission bring forward proposals on the matter.
Domestic Energy Support Measures
Domestically, the Greek government announced subsidies to lower fuel costs. Heating oil will be subsidized by 40 cents per liter, bringing the price to 1.55 euros, or roughly 1.35 euros for allowance recipients. Additionally, the government increased the heating allowance by 30% and introduced temporary price reductions for diesel and unleaded gasoline until October 31. The government also raised the fishing fuel subsidy to 40 cents per liter for September and October and allocated 15 million euros to compensate fishers for net damage caused by protected marine species.
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This article was independently rewritten by ManyPress editorial AI from reporting originally published by To Vima English.
