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The Member of the European Parliament Emmanouil Fragkos offers his thoughts on current global developments.

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What do you see as the main economic challenges for this year in Europe?
Europe is facing a period of intense pressure and uncertainty. The consequences of geopolitical developments, especially the war, have directly affected the economy, energy and the daily lives of citizens. Inflation, the increase in the cost of living and uncertainty in the markets are key challenges.
The Eurogroup of European Conservatives and Reformists (ECR Group) insists on the need for more realistic and balanced policies. We believe that Europe must strengthen its self-sufficiency, protect its production and reduce its dependence on external factors that create instability and, as the ECR Group, we are working in this direction.

How does the international situation and the war affect the Greek economy?
International instability has a direct impact on the Greek economy. Rising energy and fuel prices, supply chain disruptions and general uncertainty are affecting businesses and households alike.
As part of the ECR Group, we have stressed that Europe needs to take a more careful and strategic approach, taking into account the impact of decisions on the real economy. Policy choices cannot be made in isolation from the consequences experienced by citizens in their daily lives.

Rising fuel and energy prices remain a key issue. What can be done?
Rising energy and fuel costs are one of the main pressure points for the economy. They affect everything — from transport and production to the cost of basic goods.
The ECR Eurogroup supports the need for an energy policy based on realism. This means utilising all available energy sources, boosting domestic production and taking measures to limit extreme price fluctuations. At the same time, consumer protection is required so that they do not bear the full cost.

Tourism is a key pillar of the Greek economy. What are your estimates for this year?
Tourism remains one of the most dynamic sectors of the Greek economy and a key driver of growth. Despite international difficulties, there are indications that demand remains strong. Greece is one of the most popular destinations internationally and the quality of services provided is among the best in the world.
However, the success of this year will depend largely on the overall economic environment, transportation costs and the energy situation. At ECR Group, we emphasize the importance of supporting small and medium-sized tourism businesses, improving infrastructure and maintaining the competitiveness of the tourism economy. Tourism is not just numbers — it is also the image of the country, the quality of services and the overall experience.

Are you optimistic about the course of the economy in the coming period?
I am cautiously optimistic. The challenges are significant, but there are also opportunities. Europe has proven that it can respond to difficult conditions, as long as there is proper planning and consistency. The ECR Group believes that with realistic policies, strengthening production and supporting the economy we can achieve stability and growth.
The important thing is to have political will and active participation of citizens. Young people in particular must participate in public life and in elections, not to consider that “everyone is the same”. Participation is what can determine the course of things and provide a perspective for the future and for the critical issues of the economy that require political planning and targeted interventions.

Article paid by ECR Group