“Unity, seriousness and speed in the European Union’s responses are the big issues today more than ever.” This was stressed by the Minister of National Economy and Finance Kostis Hatzidakis at meetings of the Eurogroup and ECOFIN in Brussels, noting the urgent need for immediate and targeted initiatives by the EU to respond effectively to the major challenges of a dramatically changing and unstable international environment.

At the Eurogroup meeting, the discussion focused on addressing the impact on the European economy and security of recent economic and foreign policy changes in the US. In his statement, Hatzidakis focused on the negative impact that the imposition of tariffs on international trade will have on everyone, the secondary effects that may arise in terms of inflation, and the broader implications for Euro-Atlantic relations and European defence.