‘Era of geopolitical innocence has ended’

Eurogroup president Kyriakos Pierrakakis on Wednesday warned of an “unprecedented and deeply worrying” crisis in the Middle East, stressing that its duration will determine the scale of consequences for Europe.

Speaking at the annual forum of the European Investment Bank Group (EIB) in Luxembourg, Pierrakakis said the global environment is marked by significant uncertainty.

“We are at a moment when developments in the Middle East have intensified significantly, with repercussions that now reach Europe’s shores,” he said.