Energy inflation and fiscal parameters

Greek Prime Minister Kyriakos Mitsotakis attended the MED9 summit on Wednesday, 7 October 2026, in Split, Croatia, meeting with counterparts from Mediterranean member states of the European Union. In his interventions during the plenary sessions, Mitsotakis stated that Europe must adjust to prevailing economic conditions by delivering concrete support to households and commercial enterprises facing elevated energy costs. He emphasized that persistently high electricity and fuel prices are driving broader inflationary pressures that erode purchasing power and raise operational overheads across the European economy.

The Greek prime minister insisted that any European-level interventions designed to cushion high prices must remain strictly aligned with the principles of fiscal sustainability and long-term stability. Mitsotakis directly linked affordable energy supplies to the competitiveness of the European Union on global markets. He argued that without joint interventions, elevated utility burdens would disadvantage European firms and place uneven strains on national budgets that are striving to meet strict fiscal benchmarks.

Domestic refining capacity and the European budget

Energy security and industrial autonomy featured prominently in the Greek delegation's contributions to the discussions in Split. Mitsotakis pointed out that recent developments demonstrate the urgent need for dedicated European initiatives to preserve and protect oil refining capabilities located within the borders of the European Union. He argued that maintaining operational refinery assets inside the bloc is indispensable for securing fuel supply chains, supporting downstream industries, and shielding the European economy from external market turbulence.

The MED9 leaders also reviewed the status of preparations for the next Multiannual Financial Framework, which will define European Union spending priorities for the upcoming multi-year period. Mitsotakis noted that the European budget must be redesigned to meet the expanding array of economic, technological, and security challenges confronting the continent.

“The new EU budget must be proportional and commensurate with its ambitions.”

Emergency migration mechanism and Athens talks

Turning to border management and migration governance, Mitsotakis welcomed the positive reaction from the European Commission toward a framework proposed by Greece to establish a European emergency response mechanism. The Greek initiative seeks to provide member states with rapid institutional and logistical backing when they encounter sudden, steep increases in migratory arrivals. Athens also designed the proposed instrument to counter scenarios where migration is deliberately instrumentalized by external actors or used as a conduit for hybrid threats against the external borders of the union.

The summit in Split concluded ahead of an immediate shift in the Greek prime minister's diplomatic calendar. Only hours after delivering his remarks to fellow Mediterranean leaders in Croatia, Mitsotakis departed Split for Athens to host United States Secretary of State Marco Rubio for scheduled high-level talks in the Greek capital.