Greece Announces Economic Support During Energy Crisis

Greek Prime Minister Kyriakos Mitsotakis announced an economic aid package for Greeks during the energy crisis on Wednesday as people are struggling to keep up with rapidly increasing costs.

The total package amounts to 1.1 billion euros to be distributed to 3.2 million Greek families in need. Amounts awarded to each family could reach up to 30,000 euros each year.

Mitsotakis, who currently is suffering from Covid-19, announced the plan from his home via live video on Wednesday.

In the video, the Greek PM sought out to reassure Greek families that they would be supported as energy prices continue to rise due to the war in Ukraine.

Greece to support citizens during energy crisis

“I’d like to make it known to everyone that the moments our world is experiencing now amount to the deepest geopolitical crisis we’ve faced in nearly eight decades,” he stated.

“The Russian invasion of Ukraine is bringing war back to Europe,” he continued. While bringing about countless humanitarian crises, not least a massive refugee crisis, it has also caused “a massive energy crisis, with an obvious increase in prices,” Mitsotakis stated.

He noted that despite the fact the the state has been working to counter high prices in Greece since the Fall, the war in Ukraine has derailed plans, and Greeks can see the result in the “prices of power, gas, and other products.”

He stressed, however, that the issue is an “international” one, and that Greece is not the only country facing this crisis.

Mitsotakis expressed his understanding that Greeks are feeling the effects of the spike in prices in their everyday lives, stressing that he understands “the anguish at opening the power bill at home, or looking at the shelves in the supermarket, or at the gas pump.”

In order to combat these rising prices, Mitsotakis announced that the economic aid would go to households most in need of support, especially families with children, low income people, and those with low retirement benefits.

Additionally, he stated that Greece would cover part of the cost of fuel in the coming months.

Mitsotakis introduces plan to combat energy prices to EU officials

Mitsotakis has also proposed a plan to combat increasing energy prices to EU officials.

The Greek leader outlined a six-point plan to deal with Europe’s energy crisis last week. In a letter addressed to EU officials, the Greek leader called for the EU to deal with the economic repercussions of soaring energy prices.

The letter, which is also addressed to European Commission President Ursula von der Leyen, refers to the increasing economic threat from soaring prices on the wholesale natural gas market, stressing the necessity for immediate and decisive action to avert additional costs for EU citizens.

Mitsotakis said the problem was extremely unlikely to be eliminated when the demand for gas used in heating fell, warning that it would continue for electricity rates, which were linked to natural gas prices via the wholesale market, during Spring and Summer, placing a huge burden on households and businesses.