On Thursday morning, Greek Prime Minister Kyriakos Mitsotakis hosted Maria Luís Albuquerque, the European Commissioner for Financial Services and the Union of Savings and Investments, at the Maximos Mansion.
During their meeting, they emphasized the significance of the Banking Union and the Union of Savings and Investments for fostering the European economy. They discussed the need for increased investment across various sectors and business sizes, particularly focusing on SMEs, and how this can enhance living standards by providing better savings options for citizens.
Both Mitsotakis and Albuquerque shared insights on her portfolio, with the Prime Minister expressing the Greek Government’s support for her proposed policy initiatives.
Opening Dialogue Between Mitsotakis and Albuquerque
Kyriakos Mitsotakis:
It’s a pleasure to welcome you here. We find ourselves in a particularly intriguing and challenging phase for the European economy. First off, I want to convey our strong backing for the initiatives you’ve undertaken to effectively address the issues concerning the Union of Savings and Investments, which has been rebranded as the Capital Markets Union.
Maria Luís Albuquerque:
Indeed, it has seen expansion.
Kyriakos Mitsotakis:
Absolutely. I’ve always seen this as a significant challenge for Europe as a whole, one that was thoroughly examined in the Draghi Report, a project that Greece wholeheartedly supports.
You will also have the chance to meet with the Minister and our team to witness the progress of the Greek economy, including the substantial improvements in our banking sector’s financial stability. We also face challenges in channeling more capital into the real economy—be it through supporting the startup ecosystem, encouraging banks to issue more housing loans, embracing new technologies, or lowering customer fees.
While I know your schedule is packed, it’s gratifying that we meet at a time when Greece has definitively moved past its earlier difficulties. This must make your job a bit easier as well.
Maria Luís Albuquerque:
Thank you for the warm welcome. It’s a true delight to be in Greece for this official visit; I’ve enjoyed visiting other member states as well. It’s particularly nice to return here, as my last visit in 2016 occurred during the peak of the crisis. We shared many challenges back then, so it’s heartening to witness the economic recovery and the positive turn in the financial sector, given the enormity of the challenges faced.
I greatly appreciate your support for the Union of Savings and Investments. I understand, Kyriakos (Pierrakakis), that certain measures will not be easy to pass in the Council, but I am counting on your backing to help us progress. It’s vital for the European economy to unlock the potential held back by the fragmentation of our markets.
I am optimistic that this time we can achieve more regarding capital markets, completing the Banking Union, and ultimately better serving our citizens, which is our primary objective.
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