Mitsotakis says EU draft falls short on urgent energy price relief

At the European Council, Prime Minister Kyriakos Mitsotakis warned that the EU’s draft conclusions fail to address the emergency created by soaring energy costs. He emphasized the need for greater flexibility inside the existing fiscal rules to provide focused, temporary aid to households and firms most at risk. Mitsotakis proposed that the funding come from the extra public revenue arising from higher inflation, ensuring the budget remains sustainable.

He highlighted the gap between the necessity to act and the Union’s capacity to do so, urging a bridge between the two. Additionally, he called for an urgent reassessment of the core features of the EU Emissions Trading System, noting that while the ETS remains central to decarbonisation, it cannot operate as if conditions have not changed since its adoption.