The European Union will be forced to take collective action, including issuing eurobonds or launching a new recovery fund, to confront an impending energy crisis and a deteriorating macroeconomic environment, AKTOR Group CEO Alexandros Exarchos has said.
Speaking at the 6th Thessaloniki Metropolitan Summit, Mr. Exarchos warned that natural gas prices in Europe could surge to €110 per megawatt hour, up from his earlier forecast of €85, as rising interest rates and inflation threaten to derail investment and growth.
“Europe will have to issue a eurobond or create a new common financing mechanism, similar to the Recovery and Resilience Facility, even if at the last minute,” he said, calling it a transitional solution rather than a permanent fix.
Mr. Exarchos praised Greece for using consumption boosted by the EU recovery fund to build a stronger economic base and attract healthy private capital.
“Significant foreign investments are now being made with equity capital taking business risk,” he said. “If this continues, Greece will change its production model toward an economy that stands on its own feet.”
He hailed the expansion of the Vertical Energy Corridor as strategically vital for Greece and Europe, stressing that long-term LNG agreements with the U.S. are the only way to ensure price stability.
“The EU will pay a heavy price for delaying such deals,” he said, noting that better-priced contracts available in November 2025 are no longer on the market.
On AKTOR’s strategy, Mr. Exarchos said the group recently raised €1 billion to fund €3 billion in new investments, targeting EBITDA of €600–700 million by 2031 while keeping debt-to-EBITDA below 4x.