{"id":454470,"date":"2026-05-22T10:09:02","date_gmt":"2026-05-22T08:09:02","guid":{"rendered":"https:\/\/www.eunews.it\/2026\/05\/22\/pierrakakis-ce-pressione-stagflazionistica-ma-leuropa-sta-resistendo\/"},"modified":"2026-05-22T11:06:16","modified_gmt":"2026-05-22T09:06:16","slug":"pierrakakis-there-is-stagflationary-pressure-but-europe-is-holding-up","status":"publish","type":"post","link":"https:\/\/www.eunews.it\/en\/2026\/05\/22\/pierrakakis-there-is-stagflationary-pressure-but-europe-is-holding-up\/","title":{"rendered":"Pierrakakis: \u201cThere is stagflationary pressure, but Europe is holding up\u201d"},"content":{"rendered":"

Brussels \u2013 On the eurozone economy, \u201cthere is stagflationary pressure<\/strong>, but we are still operating within a growth perimeter,\u201d Eurogroup President Kyriakos Pierrakakis<\/strong> said the day after the release of the spring economic forecasts<\/a>, offering an assessment that struck no note of concern. Firstly, he explains on the sidelines of the Eurogroup meeting, because there are \u201cno major surprises\u201d in the European Commission\u2019s forecasts, and secondly, because \u201cthere is a trend towards stagflation, but we are not yet in that situation.\u201d<\/p>\n

 In short, the European Union was ready for what the European Commission might write in its document; after all, the Commission itself had warned of the risk of stagflation<\/a>. Of course, Pierrakakis acknowledges, the EU executive\u2019s estimates are characterised by \u201cgrowth forecasts revised downwards, and inflation estimates revised upwards,\u201d and it is precisely this that is driving those pressures and trends towards stagflation (stagnant growth and high inflation, in fact), but \u201cthe European Union is capable of withstanding this, and we must build from here<\/strong>\u201d the response to the energy crisis and its impact on production, growth, and competitiveness. <\/p>\n

The Eurogroup President wishes to be as clear as possible in stating that this is not the time to relax public spending controls, and he uses strong language: “We must protect our citizens, especially the most vulnerable, but we cannot allow the energy crisis to trigger a financial crisis.<\/strong>” This means that public aid measures must not worsen public finances, and, therefore, must not increase either the deficit or the debt. This message is particularly relevant for those countries already heavily in debt, such as Italy, which has already introduced and extended measures to address high fuel prices<\/a>. \u201cWe must be surgical<\/strong>\u201d in our response to high energy prices, Pierrakakis insists. He reminds everyone, including Italy, of the nature of the support measures: \u201cThey must be temporary, targeted, and limited in scope.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

The Eurogroup President comments on the economic forecasts: “No major surprises, but we must not allow the energy crisis to trigger a financial crisis.” A call for prudence in spending<\/p>\n","protected":false},"author":494,"featured_media":454467,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"episode_type":"","audio_file":"","podmotor_file_id":"","podmotor_episode_id":"","cover_image":"","cover_image_id":"","duration":"","filesize":"","filesize_raw":"","date_recorded":"","explicit":"","block":"","jnews-multi-image_gallery":[],"jnews_single_post":{"format":"standard","override":[{"template":"1","parallax":"1","fullscreen":"1","layout":"right-sidebar","sidebar":"default-sidebar","second_sidebar":"default-sidebar","sticky_sidebar":"1","share_position":"top","share_float_style":"share-monocrhome","show_featured":"1","show_post_meta":"1","show_post_author":"1","show_post_author_image":"1","show_post_date":"1","post_date_format":"default","post_date_format_custom":"Y\/m\/d","show_post_category":"1","show_post_reading_time":"0","post_reading_time_wpm":"300","post_calculate_word_method":"str_word_count","show_zoom_button":"0","zoom_button_out_step":"2","zoom_button_in_step":"3","show_post_tag":"1","show_prev_next_post":"1","show_popup_post":"1","show_comment_section":"1","number_popup_post":"1","show_author_box":"0","show_post_related":"1","show_inline_post_related":"0"}],"image_override":[{"single_post_thumbnail_size":"crop-500","single_post_gallery_size":"crop-500"}],"trending_post_position":"meta","trending_post_label":"Trending","sponsored_post_label":"Sponsored by","disable_ad":"0","subtitle":""},"jnews_primary_category":[],"jnews_override_counter":{"view_counter_number":"0","share_counter_number":"0","like_counter_number":"0","dislike_counter_number":"0"},"footnotes":""},"categories":[25705],"tags":[25881,33392,25828,26107,33066],"class_list":["post-454470","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-energia","tag-eurozone-en","tag-inflation-en","tag-kyriakos-pierrakakis"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.eunews.it\/en\/wp-json\/wp\/v2\/posts\/454470","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.eunews.it\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.eunews.it\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.eunews.it\/en\/wp-json\/wp\/v2\/users\/494"}],"replies":[{"embeddable":true,"href":"https:\/\/www.eunews.it\/en\/wp-json\/wp\/v2\/comments?post=454470"}],"version-history":[{"count":1,"href":"https:\/\/www.eunews.it\/en\/wp-json\/wp\/v2\/posts\/454470\/revisions"}],"predecessor-version":[{"id":454471,"href":"https:\/\/www.eunews.it\/en\/wp-json\/wp\/v2\/posts\/454470\/revisions\/454471"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.eunews.it\/en\/wp-json\/wp\/v2\/media\/454467"}],"wp:attachment":[{"href":"https:\/\/www.eunews.it\/en\/wp-json\/wp\/v2\/media?parent=454470"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.eunews.it\/en\/wp-json\/wp\/v2\/categories?post=454470"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.eunews.it\/en\/wp-json\/wp\/v2\/tags?post=454470"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}