Greece seeks EU aid for 700 million euros energy crisis

The article discussed Greece's government's request to the European Union for greater financial flexibility to fund measures to address the energy crisis. The request includes directing approximately 700 million euros of value-added tax (VAT) revenue generated from rising prices to support households and businesses. This request comes amid Greece's limited fiscal margin in its 2026 budget, as the country seeks to maintain a fiscal buffer to cope with deteriorating conditions, through two potential mechanisms: either excluding part of the temporary energy-related spending from fiscal rules or allowing the use of VAT revenues to fund targeted support without counting them against the expenditure ceiling. The VAT revenue is estimated to be about 700 million euros higher than expected, due to inflation and improved tax compliance, with a total support package of 1.21 billion euros in 2026 for income and energy support initiatives.

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