"Yesterday's announcements by the US government are obviously a historic shift toward protectionism and a sudden change to the way the global economic system has operated for decades," National Economy and Finance Minister Kyriakos Pierrakakis said on Thursday, commenting on the tariffs announced by US President Donald Trump the day before. He was speaking at a meeting of Parliament's Economic Affairs Committee convened to discuss the draft bill entitled "Strengthening the Capital Market and Other Provisions".
The minister noted that these decisions "constitute a fundamental departure from the way that the EU has understood economic and social progress since its foundation."
Pierrakakis stressed that "as a country, we are in favour of free trade. We believe that global economic war does not benefit anyone and we hope that this chapter will last for as little as possible. The repercussions are not yet apparent in their entirety, although it is a given that they will be negative. What we saw yesterday is not a static but a dynamic picture and it is a fact that economies around the world will react in multiple ways and thus there will be not one but probably several rounds of escalation until the new economic balance is made apparent."
The minister also noted that "it is a fact that the Greek government participates and will help shape the common European response. The Greek economy, with a plan, will responsibly meet international challenges."
AMNA
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