In a recent interview on CNBC’s “Europe Early Edition,” Prime Minister Kyriakos Mitsotakis discussed the renewed momentum of the Greek economy, highlighting advancements made through bold reforms and a return to fiscal stability. Titled “The Return of the Greek Economy,” the interview marks Greece’s emergence as a success story in the Eurozone recovery.
Mr. Mitsotakis pointed out substantial growth rates, indicating that Greece has emerged from the crisis era and is now confidently investing in reforms aimed at innovation, digitization, and labor market improvements.
Stability Through Debt and Unemployment Reduction
The Prime Minister emphasized the early repayment of debt as a strong affirmation of market credibility, alongside a notable decrease in unemployment, which he attributes to a robust private sector and increased investments.
He also specifically addressed Europe’s defense strategy, underlining the significance of European autonomy and transatlantic collaboration, especially in trade relations.
“During the four years from 2015 to 2019, we faced the consequences of the previous government’s poor negotiations. That period saw the lowest growth rate in Europe. Now, however, the situation has dramatically changed. Since 2019, we have rebuilt confidence in the fundamental principles of the Greek economy. None of this would have been achievable without making tough decisions to establish fiscal order,” the Prime Minister remarked.
“We took bold steps to implement growth measures and introduced significant structural reforms that enhanced Greece’s competitiveness. I believe we present an attractive narrative for foreign investors, and we continue to see inflows into our economy. I personally negotiated Greece’s participation in the Next Generation EU program, which will net Greece €36 billion, including agricultural subsidies through 2026.”
“This success story isn’t solely due to European support. We made bold choices and managed to secure a second electoral victory by demonstrating that we can achieve tangible results with policies that promote growth.”
“We are in a time when populism challenges traditional parties, and in Greece, we have countered that trend. In 2023, we increased our electoral support in two consecutive elections, convincing voters that we can deliver on our campaign promises for a better future. The question for 2027 will be: Can we remain consistent? Can we maintain trust? Can we focus on what truly matters to citizens? Inflation and disposable income remain the top issues in Greece, and we recognize the need to enhance people’s lives.”
“We acknowledge the need for further tax cuts, wage increases, and more job creation. However, we must ensure this is done sustainably, without jeopardizing the fundamental achievements we’ve made.”
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