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G7 finance ministers to meet amid warning of economic consequences of prolonged Strait of Hormuz closure
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- "Opening the Strait of Hormuz and bringing the conflict to a lasting end are of the utmost importance in mitigating the impact on the economy," Eurogroup President Kyriakos Pierrakakis said in a statement.
- The Eurogroup is a body that brings together ministers from the euro area and is being represented at the G7 meeting by Pierrakakis, who is also the Greek finance minister.
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Ahead of a meeting of finance ministers from the Group of Seven developed economies in Paris on Monday, a senior European official says the situation in the Middle East has highlighted how exposed the interconnected global economy is to external shocks.
"Opening the Strait of Hormuz and bringing the conflict to a lasting end are of the utmost importance in mitigating the impact on the economy," Eurogroup President Kyriakos Pierrakakis said in a statement.
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