Eurogroup President and Greek Minister of National Economy and Finance Kyriakos Pierrakakis is set to travel to Paris on Monday to participate in the G7 meeting of Finance Ministers and Central Bank Governors, taking place on 18–19 May under the French presidency.

The discussions are expected to focus on the state of the global economy, with particular emphasis on the macroeconomic repercussions of the crisis in the Middle East. The agenda will also include continued support for Ukraine and efforts to address widening global imbalances.

Ahead of the summit, Pierrakakis stressed that the situation in the Middle East exposed the vulnerability of interconnected economies to external shocks, noting that today’s economic challenges are inherently global in nature. In that context, he said the G7 finance meeting offers the European Union an important opportunity to engage with international partners and seek coordinated solutions in support of global economic stability.

He underlined that keeping the Strait of Hormuz open and securing a definitive end to the conflict is of critical importance in limiting the economic fallout. While Europe, he noted, demonstrated resilience in the face of the energy crisis, the global economy will continue to come under pressure even if the conflict were to be resolved swiftly.

Pierrakakis also argued that global macroeconomic imbalances needed to be addressed within a broader strategic framework. He pointed to the European agenda aimed at deepening capital markets and making the European economy more attractive to investment, saying such measures could contribute to more sustainable macroeconomic conditions. At the same time, he emphasized that reducing global imbalances is a shared responsibility among the world’s major economic powers.