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Greece Announces €2 Billion Support Package for Households and Businesses

Published March 20, 2026, 08:16
Greece Announces €2 Billion Support Package for Households and Businesses

The Greek government is preparing a €2 billion support package to address the economic consequences of the crisis triggered by the conflict between the US, Israel, and Iran. The package will be funded by the fiscal reserve created by the country's strong economic performance. The Minister of National Economy and Finance, Kyriakos Pierrakakis, stated that the timeline for the measures has not yet been finalized and will depend on the duration and intensity of the crisis. At the European Council Summit in Brussels, there were differing approaches among EU member states regarding how to address the crisis's impact. Industrially developed countries proposed reductions in emissions trading charges, while the European Commission suggested tax cuts on energy products. Greece supported providing fiscal flexibility to support businesses and households. The European Central Bank (ECB) warned of the risk of high inflation and called on governments to take targeted support measures, while recommending increased caution for countries with fiscal weaknesses. Meanwhile, the General Accounting Office is examining different scenarios based on the 2022 experience, aiming to limit the transmission of energy price increases to the overall inflation basket. The government is considering implementing measures to protect vulnerable households and businesses while ensuring fiscal stability. The final form of the support package will be determined by the evolution of the crisis and discussions with European partners.