Greece Promises Quick Action Against Crisis Profiteering as Middle East Conflict Sends Markets Tumbling

08:16 11/3/2026 - Πηγή: iEfimerida

The Greek government plans to announce a comprehensive package of emergency market measures on Wednesday to protect consumers from widespread price gouging caused by the escalating Middle East conflict.

Following high-level preparatory talks at the Maximos Mansion on Tuesday,

officials finalized a three-part approach focused on securing national energy supplies, cracking down on market speculators, and offering targeted economic aid to vulnerable households.

Authorities acted swiftly to ease public panic after a recent rush on gas stations, reassuring citizens that domestic fuel and natural gas reserves are still strong.
Market concerns were further alleviated late Tuesday as global Brent crude prices temporarily fell below $90 per barrel.

Deputy Prime Minister Kostis Hatzidakis issued a firm warning to businesses trying to artificially inflate prices and take advantage of the geopolitical instability.
"We have a complete picture of the market and will proceed with necessary interventions," Mr. Hatzidakis told state broadcaster ERT. "The measures will be very specific — every profiteer will face consequences."

While promising rapid economic support in line with upcoming European Union directives, Mr. Hatzidakis stressed that Athens will carefully balance social welfare with strict financial discipline.

"We are not the Greece of the past decade," Mr. Hatzidakis said, crediting the country's recent economic recovery for providing vital flexibility. "Whatever we do, we will do with maximum speed, without recklessness."

Despite the regional instability, officials noted that Greece’s important tourism sector remains highly resilient for 2026.

Early booking data suggests that safe-haven Mediterranean destinations like Greece and Italy could actually see a surge in visitors as travelers shift away from countries closer to the conflict zone, including Egypt and Turkey.

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Greece Promises Quick Action Against Crisis Profiteering,Middle East Conflict Sends Markets Tumbling