Cypriot Finance Minister addresses inflation and regional instability at Eurogroup meetings

Cypriot Finance Minister Makis Keravnos participated in the Eurogroup and the informal Economic and Financial Affairs Council (Ecofin) meetings in Dublin, which concluded on Saturday, September 19, 2026. The discussions focused on recent economic developments, the impact of high inflation on living costs, and the economic repercussions of the ongoing conflict in the Middle East, which participants noted is generating significant uncertainty and upward inflationary pressure.

Minister Keravnos emphasized the necessity for collective monitoring of the situation and the readiness to implement short-term support measures for national economies. However, he stressed that such interventions must not jeopardize the long-term sustainability of public finances or economic resilience. Furthermore, the Ecofin sessions addressed the competitiveness of the European banking sector, financial innovation, and the role of artificial intelligence. Keravnos highlighted that while AI can drive productivity, its integration requires robust energy infrastructure to support energy-intensive data centers without creating economic imbalances.