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Europe Today: przywódcy UE szykują się do pilnych rozmów, wojna z Iranem trwa 10. dzień
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03:55keeping a close eye on that
03:57Indeed Jane Witherspoon
03:59thank you so much for that live update
04:01from Dubai and as you heard there
04:03oil prices are rising causing
04:05turbulence across the global economy
04:07that's why European and Gulf countries
04:09are trying to cope with this sudden war
04:11that they never wanted and that's why they're holding
04:13emergency talks today Monday
04:15with their GCC countries and our EU
04:17news editor Maria Tadeo is across the story
04:20for us and joins me right now here
04:21in the studio. Good morning Maria
04:23so we're seeing oil prices jumping here
04:25to more than $100 a barrel
04:27we haven't seen this for a couple of years
04:29could this lead to weeks long supply
04:31disruption? Since 2022
04:33and Maeve of course we had debated
04:35just a week ago when the war started
04:37whether or not we would see this $100 a barrel
04:41price benchmark
04:42and hit on the price mark
04:44and now it's taken 10 days but we're finally
04:45there. Obviously this has major
04:47implications psychologically
04:49for the market but also in terms of the
04:51ramifications for the global
04:53economy. Ultimately some analysts
04:56say that this could be the worst
04:57energy crisis in decades
05:00because of the combination around it
05:02on the one hand you have
05:03over the weekend that succession
05:05put in place in Iran
05:07it's the son of the Ayatollah Ali Khamenei
05:09who will replace him
05:10the signals that that sends politically
05:13the heartliners in this regime
05:14remain very much in place
05:16and they guide the policy
05:18of Iran. Remember also President Trump
05:20had been very clear that he did not
05:22consider the son of the late
05:24Ayatollah an appropriate choice
05:26he said he was a lightweight
05:27and also said it would be unacceptable
05:29for the U.S. Obviously the scenario
05:32that the Americans would like to see
05:33something that looks like Venezuela
05:35the top leader gets taken out
05:37and then obviously what is left
05:39changes in alignment with the U.S.
05:42but that is no longer the case
05:43or it's no longer the case
05:44I should note for the time being
05:46because we are seeing that retaliation
05:47continue from Iran
05:49and then secondly it is really
05:51just a question of logistics
05:52supply and transportation
05:54when you look at the countries
05:56that right now when it comes
05:57to the retaliation from Iran
05:59are the most hurt
06:01it's the Gulf countries
06:02obviously we also talk
06:03about the Strait of Hormuz
06:04is not able to operate
06:06normally because of these strikes
06:08that keep taking place
06:09with missiles but also drones
06:11which are very cheap to fire
06:12but they create chaos
06:14on the ground
06:15so it's really this combination
06:16that is propping up
06:17energy prices today
06:19I should just point
06:19very quickly
06:21President Trump did comment
06:22on this over the weekend
06:24he is a president
06:25that likes to monitor
06:26very much the performance
06:28of the stock market
06:29so he likes to see
06:30high stock markets
06:31and then obviously
06:32low energy prices
06:33right now this is a reverse
06:34stocks are plummeting
06:36because of the uncertainty
06:37and energy prices
06:37are going up
06:38the president of the U.S.
06:40seems to be willing
06:41to tolerate those levels
06:42saying that this is a small price
06:44to pay for global security
06:45especially if the nuclear threat
06:47from Iran is eliminated
06:48just as a final breaking news
06:50on this point
06:51because this energy story
06:52is important this morning
06:53the G7 will gather
06:55and there's a possibility
06:56perhaps that the G7 countries
06:58will agree
06:59to release some of the
07:00strategic oil reserves
07:01to sort of step in
07:02and stabilize this market
07:03Indeed G7 countries meeting
07:05and also EU emergency talks
07:07are taking place
07:08with GCC counterparts
07:09fill us in
07:10Indeed and that is obviously
07:11the Gulf countries speaking
07:14this is a video conference
07:15that will take place today
07:16with the head of the commission
07:18Ursula von der Leyen
07:19and Antonio Costa
07:20this is a sort of
07:21two-way communication channel
07:23remember
07:24these countries are strategic
07:26for the energy story
07:27for the EU
07:28but also
07:29defense
07:30because there is cooperation
07:31between a number of
07:32European countries
07:33and the Gulf countries
07:34when it comes to
07:35sort of
07:36a mutual defense
07:37and that's why we've seen
07:38the likes of France
07:40and Italy
07:40also the UK
07:41saying that they will step in
07:43and help protect strategic assets
07:45and also their partners
07:46in the region
07:47another point that is
07:48perhaps closer to home
07:49is the French President
07:50Emmanuel Macron
07:51who will be headed
07:52to Cyprus
07:53I believe he's probably
07:55now on his way there
07:56the flight was scheduled
07:57to take place
07:57just a few minutes ago
07:59he will go there
08:00in a show of solidarity
08:01I remember last week
08:02there was a drone
08:02that did hit a base
08:04a UK base
08:05in Cyprus
08:07and also the Greek
08:08Prime Minister
08:09said to visit
08:10all of this
08:10in a show of solidarity
08:11but beyond solidarity
08:12there's a real question
08:14about the Mediterranean countries
08:15that could be impacted
08:17by indiscriminate strikes
08:19and that is something
08:20that the Europeans have said
08:21they will have to help
08:23and step in
08:24and the message also
08:25from the Commission
08:25was clear last week
08:26saying no stone left
08:29unchecked
08:30to help these countries
08:31that are in the sort of perimeter
08:32that could be impacted
08:34by the war
08:35Okay
08:35Maria Tadeo
08:36your news is EU editor
08:37thank you so much
08:38for all those details
08:39and of course
08:40you mentioned the impact
08:41this war is having
08:42on Mediterranean countries
08:43and actually
08:43very shortly here
08:44we'll be joined
08:45by the President
08:46of the Eurogroup
08:47who also happens
08:47to be the Greek Finance Minister
08:49so do change
08:49stay tuned for that
08:51but first
08:51here's an update
08:52on that pipeline spat
08:53between Hungary
08:54and Ukraine
08:55that now includes
08:56a police raid
08:57on a Ukrainian convoy
08:58and threats
08:59over Europe's oil supply
09:01our Jakob Yanis
09:02has been taking
09:03a closer look
09:05as the old Hollywood
09:07rule goes
09:07attributed to
09:08Alfred Hitchcock
09:10a good thriller
09:11starts with an explosion
09:12followed by a rising tension
09:14in the crisis
09:15between Hungary
09:16and Ukraine
09:17the explosion
09:18was a literal pipeline
09:19and last week
09:20tension reached
09:21a breaking point
09:22when the Hungarian
09:23anti-terror police
09:24raided a Ukrainian
09:26state bank convoy
09:27carrying cash and gold
09:28and in response
09:29Kiev accused Budapest
09:31of taking its citizens
09:32hostage
09:32but wait a second
09:34how did we actually
09:35get here?
09:37since late January
09:38the Druzhba pipeline
09:39has been down
09:41Kiev blames Russia
09:42for the explosion
09:43and refuses to repair
09:45the damage
09:45halting Russian oil
09:47to Hungary
09:47and Slovakia
09:48Budapest
09:49on the other side
09:50accuses Kiev
09:51of exploding
09:52the disruption
09:52and in retaliation
09:54is blocking
09:55a critical
09:5690 billion euro
09:57EU loan
09:58to Ukraine
09:58but escalation
10:00did not stop
10:01at financial vetoes
10:02Orban vowed
10:04to break the oil
10:05blockade by force
10:06though he did not
10:07explain how
10:08and Ukraine's
10:09president
10:10fired back
10:11suggesting he would
10:12give Ukrainian troops
10:14Orban's phone number
10:15and Hungary
10:16condemned the remark
10:17as a death threat
10:18but you see
10:19there is also
10:20a bigger picture
10:21both leaders
10:22are racing
10:23against brutal
10:24April deadlines
10:25and if the Ukraine
10:26loan is not
10:27unblocked by early April
10:28the country
10:29will run out of money
10:30facing devastating
10:32cuts to public services
10:34meanwhile
10:35Orban faces
10:36divisive elections
10:37on the 12th of April
10:38and opposing Ukraine
10:40is his strategy
10:41to win
10:42that leaves the EU
10:43rushing to break
10:44the veto
10:45and deliver the cash
10:46before Ukraine
10:47goes broke
10:48while trying
10:49not to look like
10:50it's picking a side
10:51in Hungary
10:51but finding
10:53that balance
10:54is really hard
10:55when this political
10:56thriller
10:56is building
10:57toward its breaking point
10:58so take a deep breath
11:00because the final scene
11:02is about to begin
11:09For more on that story
11:11you can visit
11:11euronews.com
11:12but for now
11:13as promised
11:14coming up
11:14we'll be joined
11:15by Kyriakos Perikakis
11:16the president
11:17of the Eurogroup
11:18and the minister
11:19of economy
11:19and finance
11:20of Greece
11:21as head
11:22of the Eurogroup
11:23he chairs
11:24meetings
11:24of finance ministers
11:25from the Eurozone countries
11:26and coordinates
11:27economic policy
11:28across the Eurozone
11:29good morning
11:30good morning
11:31great to have you
11:31with us here
11:32on Europe Today
11:33on Euronews
11:34delighted to be joining you
11:35so look
11:36Europeans are waking up
11:37today
11:37with deep concern
11:38about the escalating
11:39situation
11:39the rising energy
11:41prices
11:41how vulnerable
11:42is the European economy
11:43here to these shocks
11:44first of all
11:44we're being tested
11:45this is obvious
11:46and obviously
11:47we're also being
11:48quite concerned
11:49about how things
11:50are unfolding
11:50on the ground
11:51I think we're meeting
11:52the diplomatic challenge
11:53you mentioned
11:54Cyprus before
11:55in the visit
11:55of President Macron
11:56in Cyprus
11:57I think
11:57it's quite pertinent
11:58that we have
11:59this testament
11:59this manifestation
12:00of European solidarity
12:02by having forces
12:03sent in Cyprus
12:04and I have to say
12:05I'm quite happy
12:06that Greece
12:06and the Greek government
12:07led the way
12:08by being first
12:09I would also add
12:11that we're also
12:11tested economically
12:12and this is what
12:13we're going to be
12:14discussing today
12:14at the Eurogroup meeting
12:16energy is going to be
12:16a core element
12:17of our discussion
12:18the impact of energy
12:20prices is significant
12:21already
12:21and we want to see
12:22how we're going to
12:23meet that challenge
12:24on the ground as well
12:24and just first
12:25back to that visit
12:26in Cyprus today
12:27the Greek Prime Minister
12:28also accompanying
12:28President Emmanuel Macron
12:30is the war getting
12:31closer to your home
12:32by definition
12:33I would say
12:34that we are concerned
12:35and this is an area
12:36where European solidarity
12:37is absolutely essential
12:39to manifest and showcase
12:40that's why I mentioned
12:41and I underlined
12:41that it's quite important
12:42that European states
12:44European member states
12:45are collectively
12:45showing support
12:46to ensure the security
12:48of a member state
12:48of the European Union
12:49and Greeks are concerned
12:50they're already getting
12:51very concerned
12:52about the cost of living crisis
12:53how this is impacting
12:54their pocket
12:54what will you do
12:55to address these concerns
12:56I would say
12:57that we already
12:57have a toolkit
12:58and the toolkit
12:59is the 2022 toolkit
13:00we're not yet there
13:01but businesses
13:03and households
13:04are already signaling
13:05that they want
13:06to see what type
13:06of support
13:07they would receive
13:07should the crisis
13:08deepen
13:09I think we have
13:10two key words here
13:11the first one is
13:12duration
13:13how long it will
13:14last
13:15the second one
13:16is disruption
13:17what type of crisis
13:18will it be
13:19if you have a disruption
13:20of supply chains
13:22and maritime transport
13:23for instance
13:23at the Strait of Hormuz
13:24for a very long
13:25period of time
13:26by definition
13:27the impact
13:27is going to be different
13:28we're looking
13:29at the price
13:30of natural gas
13:31we're looking
13:31at the price
13:31of oil
13:32but effectively
13:33there are many
13:34elements
13:34of the potential
13:35disruption
13:35that we're also
13:36looking at
13:36the price
13:37of fertilizers
13:38air traffic
13:39food security
13:40there are many
13:41elements on the ground
13:42that affect
13:42the international
13:43economy
13:43and I mentioned
13:442022
13:45because the invasion
13:46of Russia
13:46and Ukraine
13:47provided us
13:48with a European
13:49toolkit
13:49of how we can
13:50manage those
13:51crises
13:51so are we better
13:52prepared now
13:52of course
13:53we're better prepared
13:53that's why
13:54we have this
13:55deployment of a toolkit
13:56but at the same
13:57time we need
13:58orchestration
13:58and coordination
13:59at the European
13:59level
14:00and this is
14:00what the Eurogroup
14:01is for
14:01so we're going
14:02to be discussing
14:03all of those
14:03things
14:04both today
14:05and on many
14:05meetings
14:06even at the
14:06level of the
14:06leaders
14:07because we need
14:08a concerted
14:08European action
14:09because the IMF
14:10the International
14:10Monetary Fund
14:11have warned
14:12in a report
14:13just the other day
14:13that the consequences
14:14could be felt
14:14earlier than we
14:15even think
14:16the key word
14:17here I think
14:17is uncertainty
14:18that's why I
14:19mentioned duration
14:20and uncertainty
14:21we saw that
14:21with tariffs
14:22uncertainty
14:22has a much
14:23greater impact
14:24than a problematic
14:26policy per se
14:27that's why you need
14:28to unleash the full
14:29potential of the
14:30European market
14:30of the European Union
14:31when we're discussing
14:33macroeconomic developments
14:34for the previous year
14:35at the level of the
14:36European ministers of
14:37finance
14:37we say that the key
14:39word for Europe
14:39is resilience
14:40but if we're frank
14:42we need to underline
14:43and stress that
14:44resilience is not
14:45a growth strategy
14:46we need much more
14:47and Europe has a huge
14:48potential
14:49to unlock
14:51its innovation
14:51its dynamism
14:52we need to remove
14:53the barriers that exist
14:54between the member states
14:55of the European Union
14:56and if we're speaking
14:57about energy
14:58we need a single
14:59European energy market
15:00which we don't have
15:01that's why energy
15:02was put on the agenda
15:03it's not only about
15:04the here and the now
15:05the crisis that we're
15:06having at the gulf
15:07right now
15:08it's much broader
15:09it's about interconnections
15:10it's about regulation
15:11it's about unlocking
15:12the potential
15:13of our European energy market
15:14we need to do
15:15all of those things
15:15at once
15:16a lot to do
15:16indeed of course
15:17but just about
15:18the here and now
15:18our viewers waking up
15:19this morning
15:19worrying about inflation
15:21that it could go up again
15:22that's why I mentioned
15:23before that we're looking
15:24very closely
15:25the impact on oil
15:26and natural gas
15:27and obviously
15:28rise in energy prices
15:30has an adverse impact
15:31on inflation
15:31we saw that
15:32in 2022
15:33I would say that
15:34we're not there
15:352022 was a much
15:37deeper crisis
15:38but we need to be
15:39anticipatory
15:40and we need to be
15:41very well prepared
15:41as you asked before
15:43we're much better prepared
15:44now
15:44but we need to be vigilant
15:46and we need to be
15:47observing the situation
15:48on the ground
15:48and what about
15:49the European Central Bank
15:50what role will they
15:50be playing here
15:51obviously
15:52we believe
15:52very firmly
15:53in the independence
15:54of the European Central Bank
15:55and they have shown
15:55that they have
15:56the agility
15:56and the capability
15:57to react
15:58when it is necessary
15:59and we fully trust them
16:00and will that be soon
16:01you think
16:02I cannot comment on that
16:03because as I mentioned
16:04the independence
16:05of the Central Bank
16:05is for all Europeans
16:06a sine qua non
16:08and are you feeling
16:09very worried right now
16:10I would say
16:11that I feel concerned
16:12I would say
16:13that our work
16:13our job
16:14is to be concerned
16:15but at the same time
16:16our work
16:17is to know
16:17what we need to do
16:18and when we need to do that
16:20and as I mentioned before
16:21I think that we have
16:22this capacity right now
16:23both at the level of Europe
16:24both at the level of Brussels
16:25and at the level
16:26of the member states
16:27And did this war
16:28take you by surprise
16:29Minister?
16:30In reality
16:31we have seen
16:32a density of geopolitical events
16:33in the recent years
16:34which shouldn't be taking us
16:36by surprise at all
16:37the things we have seen
16:38in the last six or seven years
16:40which have never been
16:42anticipated
16:42you know
16:43from a 2019 lens
16:44which is when
16:45the government
16:46that I participate at
16:47came into office
16:48but I think that
16:49at the same time
16:49our capacity building
16:51has changed
16:52both at the European level
16:53and at the national level
16:54and this is why
16:55even though you cannot
16:56fully anticipate
16:57the granularity
16:57of certain events
16:58the mentality
16:59of anti-fragility
17:01and of capacity building
17:02yourself
17:02is now here
17:03And is the EU
17:05speaking with one voice
17:06do you believe in this war?
17:07I think so
17:07and I mentioned Cyprus
17:09at the beginning
17:09because that was a testament
17:11of European solidarity
17:11at the diplomatic level
17:13we need to have
17:14more concerted
17:15and more coordinated action
17:17at the economic level
17:18as well
17:18this is our responsibility
17:19this is why we're here
17:20And President Macron's
17:22visit to Cyprus today
17:23is it diplomatic
17:24or is it really strategic
17:25for him?
17:26I think it's absolutely strategic
17:27and diplomacy
17:28is a core element
17:29of that strategy
17:29all of those things
17:30are being in a sense
17:31being put together
17:33diplomacy
17:33economic policy
17:35Europe should speak
17:36with one voice
17:36on all fronts
17:37this is what we need
17:38to achieve
17:38we need strategic autonomy
17:39But Europe has not been
17:41speaking with one voice
17:41on all fronts
17:42Well that's the challenge
17:42that's why we have
17:43the Draghi report
17:44that's why we have
17:44the Leto report
17:45and this is why
17:45the whole idea
17:46is that you need
17:47a single market
17:48to begin with
17:49in order to unlock
17:49your potential
17:50even on a sovereignty basis
17:52not only on an economic basis
17:53that will be the challenge
17:54of my generation
17:55in politics
17:55I think
17:56and it's a challenge
17:57that should be met
17:58we don't have the luxury
17:59of not meeting it
18:00And you don't have
18:00the luxury of time
18:01given the escalation
18:02crisis right now
18:03and what you're saying
18:04is effectively
18:06an element of the European
18:07story in the past
18:08we typically integrated
18:09crisis
18:09metabolized crisis
18:11into a change in policy
18:12when they were
18:13manifesting themselves
18:13we need to become
18:15more anticipatory
18:15we should at least
18:17integrate
18:17perfect optimal responses
18:19to crisis
18:20but at the same time
18:21we need to learn
18:21how to anticipate them
18:22we don't have the luxury
18:23of simply reacting anymore
18:24And just one final question
18:26Bulgaria recently joined
18:27the Eurozone
18:28how is that going?
18:29It's going well
18:29and we have a collective
18:32experience of a
18:33transition to the
18:34European currency
18:35from all the other stories
18:37like the Greek story
18:37for instance
18:38that took place in the past
18:40we're supporting
18:40the Bulgarian government
18:42and so far
18:43the situation
18:44has been going quite well
18:45Okay
18:46Thank you so much
18:47Minister
18:47for being our guest
18:48this morning
18:48on Europe Today
18:49and for coming into us
18:50here on Euronews
18:51All the best
18:52with your busy day
18:52of talks
18:53And that does bring
18:54this edition
18:55of Europe Today
18:56to an end
18:57For more news
18:58and analysis
18:58do visit
18:59euronews.com
19:00or download our app
19:01or visit all our
19:01social media sites
19:02Thank you so much
19:03for watching
19:03Take care
19:04and see you soon
19:05on Euronews
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