Wolfango Piccoli, head of geopolitics at London-based CEO and board advisory firm Consello, also warned that the escalating US-Iran confrontation could develop into a prolonged war of attrition, with significant consequences for energy markets.
Greece faces a potential new source of uncertainty as political stability, a key strength of recent years, could become a risk factor, according to Wolfango Piccoli, head of geopolitics at London-based CEO and board advisory firm Consello.
In an interview with Kathmerini, the experienced analyst warned that a possible inability to form a government after the next elections could delay investment decisions and weaken investor confidence. “Compared to the last eight years, there is clearly a risk that politics, instead of being a source of strength, could become a source of uncertainty at best and possibly instability at worst,” he said.
Piccoli also expressed concern that the escalating US-Iran confrontation could develop into a prolonged war of attrition, with significant consequences for energy markets. A prolonged closure of the Strait of Hormuz could trigger an energy shock, although its effects would vary widely among countries.
“Greece is obviously an energy-dependent country, so there could be a direct impact on that front,” he said, adding that higher energy costs could also fuel inflation. With the cost of living already a major concern for Greek households, he noted that rising energy bills could influence the government’s calculations over the timing of elections.
