Greece’s government has issued a stark warning against any attempts at price gouging on fuel or other goods, as it braces for the economic fallout from a wider Middle East conflict following U.S. airstrikes on Iran over the weekend.
Deputy Prime Minister Kostis Hatzidakis, who also oversees the national economy, said the government would show “no tolerance” for price hikes, confirming that the Ministry of Development is already deploying inspectors to enforce the policy.
The warning comes as the global economic outlook darkens significantly after the United States directly entered the conflict between Israel and Iran.
In an interview conducted just before the U.S. escalation, Mr. Hatzidakis had already sounded the alarm, calling the initial situation “deeply troubling” and stressing that fiscal discipline was the country’s best defense.
“Oil price shifts do not immediately affect retail fuel or product prices. Any premature hikes are artificial and unacceptable,” Mr. Hatzidakis told Greek media outlet Mononews.gr, a message that has gained extreme urgency in the last 48 hours.
While not ruling out future government support for households if energy prices surge, he cautioned against rash decisions.
“We don't announce measures based on hypothetical scenarios,” he said. “But every time a real need or crisis arose, the government stepped in to support citizens — without jeopardizing fiscal stability.”
Mr. Hatzidakis insisted that despite the turbulent geopolitical climate, Greece’s key economic policies would remain on track, citing the country's stable budget execution as a source of resilience.
The Deputy Prime Minister also addressed a major domestic issue, confirming the government will proceed with dissolving the scandal-plagued agricultural payments agency, OPEKEPE.
The body, currently under investigation by the European Public Prosecutor’s Office for mismanagement of EU farm subsidies, will be folded into Greece’s independent tax authority, AADE.
“We will not tolerate this dysfunction any longer,” Mr. Hatzidakis said, framing the move as essential to cleaning up public finances. “Our goal is to build an institution that serves real farmers — and ensure that anyone who wrongly received funds will pay them back.”