Greek Prime Minister Kyriakos Mitsotakis focused on the “exceptional” performance of the country’s economy speaking at the annual meeting of the International Organization of Securities Commissions (IOSCO) in Athens on Wednesday.
In his speech, the Greek Premier warned of the serious challenges finance markets face amid a tumultuous geopolitical environment negatively impacting the Eurozone.
Tuning to the Greek economy, Mitsotakis highlighted the country’s fiscal success pointing out “We [Greece] have primary surpluses”, adding that no other EU nation implemented as strict fiscal measures as Greece did.
The Greek economy is exceeding expectations and significantly outperforming the Eurozone average, according to the Prime Minister. “Public finances are in order, and the banking system remains robust. The country continues to implement structural reforms and tackle tax evasion, resulting in a reduction in debt levels and successful digital transformation efforts”, Mitsotakis added.
“The Greek economy is progressing,” the Prime Minister stated. “Markets recognize and acknowledge these improvements, reflected in declining bond yields and increasing investments, which are a vote of confidence in our progress.”
Mitsotakis underlined Greece had made an “impressive” comeback calling the course of the economy “astonishingly positive”. “We will continue of the same path to support our citizen’s income. We need more foreign investments”.
On the large funding of the country’s defense, the Prime Minister said Greece never reaped the benefits of the calm that followed the fall of the Berlin Wall, consistently spending 2% of its GDP on defense. Highlighting a new alliance with Poland’s Prime Minister to create a European anti-aircraft defense system, Mitsotakis urged Europe to take action.
“We need joint initiatives at the European level to mobilize resources for the common good. Banks need to become more responsive, and for that to happen, they must take on more risks,” he emphasized.
