The European Council, which is about to begin, is taking place at an extremely critical geopolitical juncture, with a widespread war afflicting the Middle East. The repercussions on the global economy are, of course, extremely serious.
Allow me to make three observations. The first has to do with the fact that this crisis has highlighted the need to actually activate the European Union’s mutual assistance clause. I am referring to Article 42, paragraph 7.
Greece was the first European country to rush to Cyprus’s aid when it came under attack, and many other European countries followed suit. However, I will openly raise this issue at the European Council and call for a clear roadmap on how we can transform this essentially informal invocation of Article 42.7 into an institutionally sound option available to European countries in the event they face another attack.
My second observation concerns the economic and energy implications of this major crisis. The attack on oil facilities in the Gulf has the potential to drive energy prices to levels that could have dramatic consequences for the global economy. It is absolutely essential at this moment that reason prevails and that attacks on energy infrastructure in the broader region cease on both sides.
Beyond that, however, as Europe we must be prepared to tackle this crisis, making the protection of European consumers our top priority, especially our most vulnerable fellow citizens, but also European businesses, so that their competitiveness is not further undermined. The response at this level must be both national and European.
Greece will do everything in its power, within the limits of its fiscal capacity, to support Greek citizens and the Greek economy. However, we will also need European responses in the event that this crisis drags on and leads to prolonged price hikes for both natural gas and fuel, and this will be the subject of the discussion we will have today.
My third observation has to do with the fact that this crisis must under no circumstances lead Europe to face a new refugee crisis. Here, the message must be absolutely clear: Europe cannot tolerate a repeat of the 2015 crisis. We are not at that point yet, but we must be prepared for all eventualities.
I believe it is imperative, therefore, that this European Council send a clear message that Europe will protect its external borders and will not repeat the mistakes of the past.
