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02:41προβίδες μας with a European toolkit
02:43of how we can manage those crises.
02:44So are we better prepared now?
02:45Of course we're better prepared.
02:47That's why we have this deployment of a toolkit.
02:49But at the same time, we need orchestration
02:51and coordination at the European level
02:53and this is what the Eurogroup is for.
02:55So we're going to be discussing all of those things
02:57both today and on many meetings,
02:59even at the level of the leaders,
03:00because we need a concerted European action.
03:02Because the IMF, the International Monetary Fund,
03:04have warned in a report just the other day
03:06that the consequences could be felt earlier
03:08than we even think.
03:09The key word here, I think, is uncertainty.
03:12That's why I mentioned duration.
03:13And uncertainty, we saw that with tariffs.
03:15Uncertainty has a much greater impact
03:18than a problematic policy per se.
03:20That's why you need to unleash the full potential
03:23of the European market, of the European Union.
03:25When we're discussing macroeconomic developments
03:27for the previous year,
03:29at the level of the European ministers of finance,
03:31we say that the key word for Europe is resilience.
03:34But, if we're frank, we need to underline and stress
03:37that resilience is not a growth strategy.
03:39We need much more.
03:41And Europe has a huge potential
03:42to unlock its innovation, its dynamism.
03:46We need to remove the barriers that exist
03:47between the member states of the European Union.
03:49And, if we're speaking about energy,
03:51we need a single European energy market,
03:53which we don't have.
03:54That's why energy was put on the agenda.
03:56It's not only about the here and the now,
03:59the crisis that we're having at the Gulf right now.
04:01It's much broader.
04:02It's about interconnections.
04:04It's about regulation.
04:05It's about unlocking the potential
04:06of our European energy market.
04:08We need to do all of those things at once.
04:09A lot to do, indeed, of course.
04:10But, just about the here and now,
04:12our viewers waking up this morning
04:13worrying about inflation,
04:14that it could go up again.
04:15That's why I mentioned before
04:16that we're looking very closely
04:18the impact on oil and natural gas
04:21and, obviously, a rise in energy prices
04:23has an adverse impact on inflation.
04:25We saw that in 2022.
04:27I would say that we're not there.
04:29where 2022 was a much deeper crisis.
04:32But we need to be anticipatory
04:33and we need to be very well prepared.
04:35As you asked before,
04:36we're much better prepared now.
04:38But we need to be vigilant
04:39and we need to be observing
04:40the situation on the ground.
04:42And what about the European Central Bank?
04:43What role will they be playing here?
04:45Obviously, we believe very firmly
04:46in the independence of the European Central Bank
04:48and they have shown that they have the agility
04:50and the capability to react
04:52when it is necessary
04:53and we fully trust them.
04:54And will that be soon, you think?
04:55I cannot comment on that
04:56because, as I mentioned,
04:57the independence of the Central Bank
04:59is for all Europeans
05:00as sine qua non.
05:01And are you feeling very worried right now?
05:04I would say that I feel concerned.
05:05I would say that our work,
05:07our job is to be concerned.
05:08But at the same time,
05:09our work is to know
05:11what we need to do
05:12and when we need to do that.
05:13And as I mentioned before,
05:14I think that we have this capacity right now,
05:16both at the level of Europe,
05:18both at the level of Brussels
05:19and at the level of the member states.
05:21And did this war take you by surprise, Minister?
05:23In reality,
05:24we have seen a density of geopolitical events
05:27in the recent years
05:28which shouldn't be taking us by surprise at all.
05:30The things we have seen
05:31in the last six or seven years
05:33would have never been anticipated,
05:36you know, from a 2019 lens,
05:37which is when the government
05:39that I participate at came into office.
05:41But I think that at the same time,
05:43our capacity building has changed,
05:45both at the European level
05:46and at the national level.
05:47And this is why,
05:48even though you cannot fully anticipate
05:50the granularity of certain events,
05:51the mentality of anti-fragility
05:54and of capacity building yourself
05:56is now here.
05:57And is the EU speaking with one voice
05:59do you believe in this war?
06:00I think so.
06:01And I mentioned Cyprus at the beginning
06:03because that was a testament
06:04of European solidarity
06:05at the diplomatic level.
06:06We need to have more concerted
06:09and more coordinated action
06:10at the economic level as well.
06:11This is our responsibility.
06:13This is why we're here.
06:14And President Macron's visit to Cyprus today,
06:16is it diplomatic
06:17or is it really strategic for him?
06:19I think it's absolutely strategic
06:20and diplomacy is a core element
06:22of that strategy.
06:23All of those things
06:23are being, in a sense,
06:25being put together.
06:27Diplomacy, economic policy.
06:28Europe should speak
06:29with one voice on all fronts.
06:31This is what we need to achieve.
06:32We need strategic autonomy.
06:33But Europe has not been speaking
06:34with one voice on all fronts.
06:35Well, that's the challenge.
06:36That's why we have the Draghi report.
06:37That's why we have the Leto report.
06:38And this is why the whole idea
06:40is that you need a single market
06:41to begin with
06:42in order to unlock your potential,
06:44even on a sovereignty basis,
06:45not only on an economic basis.
06:47That will be the challenge
06:47of my generation in politics, I think.
06:49and it's a challenge
06:50that should be met.
06:51We don't have the luxury
06:52of not meeting it.
06:53And you don't have the luxury of time
06:54given the escalation crisis right now.
06:56And what you're saying
06:57is effectively
06:59an element of the European story
07:00in the past.
07:01We typically integrated crisis,
07:03metabolized crisis,
07:04into a change in policy
07:05when they were manifesting themselves.
07:07We need to become
07:08more anticipatory.
07:09We should at least integrate
07:11perfect, optimal responses
07:12to crisis.
07:13But at the same time,
07:14we need to learn
07:15how to anticipate them.
07:16We don't have the luxury
07:16of simply reacting anymore.
07:18And just one final question.
07:19Bulgaria recently joined the Eurozone.
07:21How is that going?
07:22It's going well.
07:23And we have a collective experience
07:26of a transition
07:27to the European currency
07:28from all the other stories,
07:30like the Greek story,
07:31for instance,
07:32that took place in the past.
07:33We're supporting
07:34the Bulgarian government.
07:35And so far,
07:37the situation
07:37has been going quite well.
07:39Okay.
07:39Thank you so much, Minister,
07:40for being our guest
07:41this morning on Europe Today
07:42and for coming in to us
07:43here on Euronews.
07:44All the best
07:45with your busy day of talks.
07:47And that does bring
07:48this edition of Europe Today
07:49to an end.
07:50For more news and analysis,
07:52do visit euronews.com
07:53or download our app
07:54or visit all our social media sites.
07:56Thank you so much for watching.
07:57Take care
07:57and see you soon
07:58on Euronews.
07:59for more podcasts.
08:09Thank you so much for watching.
08:14Bye now.
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