Written by Orestis Omran*
In this new landscape, new players enter the European geopolitical chessboard and this makes it necessary for European governments to be alert. One of the most serious and indicative consequences of this energy escalation is the new upward trend in the price of gasoline.
The increase in prices is mainly due to the ongoing conflicts in Ukraine and the Middle East. As well as the Houthi attacks in the Red Sea. These two factors have caused additional disruption to the supply chain and transportation costs.
In Greece, the issue of accuracy concerns sectors such as energy, health, food and fuel markets. The drastic measures taken by the government are aimed at dealing with the phenomenon, but also at the causes that have created it.
The energy crisis, the current geopolitical disturbances, trade uncertainty, the climate crisis, high interest rates are mainly responsible for the fact that the Greek market is vulnerable to precision and prices remain at high levels. Additional factors that decisively affect the prices of goods are the high dependence of the domestic market on imports of products, raw materials and finished products.
Also, prices are driven upwards due to the decline in agricultural production, the increased operating costs of businesses, but also the destabilization of the supply chain. An equally important cause that has triggered the phenomenon of accuracy is the unjustified overvaluation of products that refers to speculation phenomena.
However, in the wake of these developments and in an effort to address punctuality, the government is establishing measures and taking initiatives. For example, the recent ban on offers on products that have been repriced in the last quarter, ceilings on special categories of food, dealing with misleading offers, checks to deal with profiteering, upgrading the e-Consumer platform for price comparison, providing subsidies through targeted social policies etc.
However, the following actions could serve as an indication of the concerted effort of the state to combat accuracy and price restraint:
* the achievement of the ambitious climate and green transition goals,
* the intensification of profiteering controls and the imposition of fines,
* the stimulation of domestic food production,
* the use of technological tools for price comparison,
* the further digitization of Public Administration and the removal of obstacles to strengthen and protect competition.
* Orestis Omran, international lawyer based in Brussels and head of the International Department of the Hellenic Business Association
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