Greece energy crisis threatens SMEs and social cohesion

Giannis Chatzitheodosiou, President of the Athens Chamber of Commerce and Industry, warns that the ongoing energy crisis is severely impacting Greek households and small to medium-sized enterprises (SMEs). The high cost of energy is creating a vicious cycle by increasing production and transportation costs, which in turn raises the prices of goods and services, ultimately reducing consumer purchasing power.

This economic pressure threatens social cohesion and risks a wave of business closures, particularly among energy-intensive SMEs. Chatzitheodosiou suggests that the current measures are insufficient and calls for bold government interventions, such as reducing fuel excise duties, to mitigate the impact of rising energy prices and the consequences of the war in Ukraine.