ESM President: EU resilient to energy crisis

The President of the European Stability Mechanism (ESM), Pierre Gramegna, stated that the conflict in the Middle East has mitigated the positive trend of investors in the EU's growth prospects.

As he mentioned, Europe is highly dependent on energy prices. Since the beginning of the war, European stocks have fallen by approximately 9% and oil prices have risen by 40%.

Mr. Gramegna estimated that Europe has gained "resilience" and has learned policy lessons from the previous energy crisis.