The European Council meeting, which is about to begin, is taking place at an exceptionally critical geopolitical juncture, with a large-scale war affecting the Middle East. The repercussions for the global economy are, evidently, extremely serious, Prime Minister Kyriakos Mitsotakis stated upon his arrival at the European Council meeting in Brussels on Thursday.

“Allow me to make three remarks. The first concerns the fact that this crisis has highlighted the need for the effective activation of the European Union’s mutual assistance clause. I am referring to Article 42(7),” the Greek Prime Minister said, adding:

Greece, as the first European country, moved swiftly to support Cyprus when it came under attack, and many other European countries followed. However, I will raise this issue openly at the European Council and call for a clear roadmap on how we can transform what is essentially an informal activation of Article 42(7) into a robust institutional option available to European countries in the event they are attacked again.

His second point relates to the economic and energy implications of this major crisis. The attack on oil facilities in the Gulf has the potential to drive energy prices to levels that could have dramatic consequences for the global economy. It is absolutely essential at this moment for reason to prevail and for attacks on energy infrastructure in the wider region to cease on all sides.

Beyond that, Europe must be prepared to address this crisis, with the primary objective of protecting European consumers-especially the most vulnerable-as well as European businesses, so that their competitiveness is not further undermined. The response at this level must be both national and European.

He stressed that “Greece, within its fiscal capabilities, will do everything in its power to support Greek citizens and the Greek economy. However, we will also need European-level responses if this crisis persists and leads to prolonged high prices in both natural gas and fuels, and this will be part of today’s discussion.”

The prime minister’s third point concerned the fact that “this crisis must under no circumstances lead Europe into a new migration crisis. The message here must be absolutely clear: Europe cannot tolerate a repeat of the 2015 crisis. We are not at that point, but we must be prepared for all scenarios.”

“A clear message, therefore, that Europe will protect its external borders and will not repeat the mistakes of the past is, in my view, imperative to be sent by this European Council,” Mitsotakis concluded.