Greek Prime Minister Kyriakos Mitsotakis is preparing aggressive market interventions to shield consumers from rampant price gouging triggered by the escalating Middle East war.
During a high-level preparatory meeting at the Maximos Mansion on Monday, Kyriakos Mitsotakis directed his cabinet to strictly target economic speculation linked to surging global energy costs.
Mr. Mitsotakis received detailed crisis briefings from Development Minister Kostas Skrekas and Energy Minister Theodoros Skylakakis. Both Mr. Skrekas and Mr. Skylakakis focused on how the regional conflict and disrupted maritime shipping routes threaten to artificially inflate domestic consumer prices.
While the government is poised to strike against profiteering, Mr. Mitsotakis held off on announcing immediate mandates ahead of his scheduled departure for the second international nuclear energy summit in Paris on Tuesday.
Government officials confirmed that a finalized package of stabilization measures will be unveiled later this week once deliberations are complete.
Athens is currently monitoring the volatile movements of essential goods and energy markets, especially after global oil prices recently rocketed past $110 a barrel due to the severe instability in the Persian Gulf.
The impending economic crackdown fulfills a recent pledge by the prime minister to swiftly and dynamically intervene to absorb the geopolitical shockwaves.
By targeting opportunistic markups on food and fuel, authorities aim to prevent the broader Middle East conflict from severely destabilizing Greek household budgets through imported inflation.