Eurogroup Chair Says Stagflation Is Worst Case Scenario
Eurogroup chair Kyriakos Pierrakakis says the EU is not yet in stagflation despite rising energy costs. The impact depends on the Strait of Hormuz closure.
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Kyriakos Pierrakakis, the chairman of the euro zone finance ministers, stated on Tuesday that while stagflation represents the most severe economic threat to the European Union, the region has not yet entered such a phase. Speaking at the Semafor conference in Washington, Pierrakakis addressed the economic fallout stemming from the conflict involving the United States, Israel, and Iran.
