Press Office
Brussels, 1 March 2023
European Parliamentary Week 2023 on Economic Governance
The work conducted in the framework of the European Parliamentary Week on economic Governance, with the participation of numerous MPs from members states and MEPs, concluded yesterday, the 28th of February. The Hellenic Parliament was represented by the Chair of the Standing Committee on Economic Affairs Stavros Kalogiannis, the Deputy Chair of the Special Standing Committee on European Affairs Nina Kassimati and the Secretary of the Standing Committee on Social Affairs Iason Fotilas.
Plenary sessions were held, as well as meetings (in parallel) of the European Parliament's Committees on Economic and Monetary Affairs (ECON), on Employment and Social Affairs (EMPL) and on Budgets (BUDG), where MPs and MEPs had the opportunity to exchange views on specific economic, fiscal and social issues of concern to the EU.
Welcome addresses were delivered by the President of the European Parliament Roberta Metsola, the Speaker of the Swedish Riksdag Andreas Norlén, the Executive Vice-President of the European Commission Valdis Dombrovskis and the OECD Secretary General Mathias Cormann (video message).
During his intervention at the ECON Committee, Stavros Kalogiannis pointed out that inflationary pressures led to the adoption of measures by all member states to support households and businesses, which intensified fiscal pressures. He stressed that in Greece the income of citizens has been significantly supported with permanent tax reductions and insurance contributions, as well as with increases in salaries and pensions, adding that, at the same time, priority was given to ensuring fiscal stability. He underlined that the public debt has decreased significantly and that the budget is expected to return to an environment of primary surpluses, emphasising that according to the European Commission's forecasts the Greek economy is also performing very well, with the inflation rate slowing. Mr Kalogiannis stated that Greece's priorities include active participation in shaping the new European economic architecture, supporting proposals that aim at a balance between sustainable debt, investments and sustainable growth. He pointed out that the European Regulation on the establishment of a Market Correction Mechanism is a useful tool to protect against high natural gas prices, adding that Greece can contribute to the EU's energy autonomy plans through infrastructure it is developing in the energy map of the Southeast Mediterranean. Lastly, he emphasised that the European Commission's proposal to create a European Sovereignty Fund in order to support the European industry is an interesting response by the EU to the relevant measures taken by the US to lower inflation.
Mr Fotilas, during his intervention at the EMPL Committee, stressed that the member states, when taking measures to support households against inflationary pressures and increases in energy prices, focused, on the one hand, on the fiscal impact of the measures in question and on the other had on the appropriate planning thereof. In particular, he pointed out that the measures to address high energy prices are on the one hand those taken to reduce the final price for consumers and on the other hand income-strengthening measures which entail providing financial compensation or subsidies to consumers. He stressed that the Greek government has adopted targeted measures to curb the economic impact of the multi-level crisis, focusing on vulnerable citizens. He pointed out that the measures concern electricity and natural gas subsidies for all households and businesses, while measures such as the fuel subsidy were also adopted, as well as the increase in the heating allowance for vulnerable households, permanent tax reductions, such as the abolition of the special solidarity contribution and the reduction of social security contributions. He said the cost of the measures is offset by taxes on windfall profits of power producers as of July 2022, as well as through a 90% windfall levy on power producers for the period up to June 2022, pointing out that this demonstrates the government's willingness to stand by the vulnerable while also implementing the necessary reforms.
