Prime Minister Kyriakos Mitsotakis participated in a roundtable discussion, in the context of an event organized by the Hoover Institution at Stanford University in California, alongside former U.S. Secretary of State and Hoover Institution Director Condoleezza Rice.
In his remarks, the Prime Minister emphasized the policy mix that Greece has implemented to address the challenges and global crises of recent years, with a three-pronged focus on: dynamic economic growth, strengthening the country’s position on the international stage, and addressing inequalities.
Kyriakos Mitsotakis pointed out that the Greek economy is growing at a significantly faster rate than the European Union average, is pursuing a prudent fiscal policy, consistently achieving primary surpluses and is attracting a large volume of foreign direct investment. It has also managed to reduce unemployment by approximately 10 percentage points compared to 2019, achieved the fastest decline in the debt-to-GDP ratio in OECD history, and has regained the confidence of international markets, as reaffirmed by two recent upgrades to the country’s outlook and credit rating.
As the Prime Minister stressed, Greece’s positive trajectory is reflected in the fact that, amid significant turmoil in the global bond market, it has lower borrowing costs than four G7 members, while at the same time, Greeks who had emigrated abroad are now expressing their confidence in the country’s prospects and returning home.
Kyriakos Mitsotakis added that the economic recovery has helped shift the focus to another aspect of the “triangle,” social policy, resulting, among other things, in the implementation of a series of measured tax cuts and a cumulative 42% increase in the minimum wage.
He also noted that Greece is facing up to the chronic problem of tax evasion and has effectively utilized the resources of the Recovery and Resilience Fund, thereby securing significant funds for public investments and tax relief.
The Prime Minister also focused on the third pillar – Greece’s position on the international stage – stressing that our country pursues an active foreign policy, always guided by international law, has substantially strengthened the deterrent capabilities of the Armed Forces, and on the migration front has protected its borders – which are also the EU’s external borders – thereby depriving far-right parties of political “breathing room.”
Kyriakos Mitsotakis also underlined that he believes strongly and steadfastly in the importance of transatlantic cooperation, especially in today’s complex world. He expressed his support for strengthening Europe’s capabilities, based on the recommendations of the Draghi report.
Finally, the Prime Minister had the opportunity to outline his vision for Greece in 2030, noting to his interlocutors that this will be a landmark year, as it marks the 200th anniversary of the founding of the modern Greek state.
