Interviews on the Bloomberg and CNBC television networks were granted by the Minister of Economy and Finance Kostis Hatzidakis on the occasion of his visit to Washington, where he participated in the Spring Session of the International Monetary Fund and the World Bank. The minister presented the progress achieved by the Greek economy in terms of growth, investments, the reduction of public debt, he noted the investments of American companies in the country as well as the success of the disinvestment procedures of the State by the banks while underlining the need to improve international competitiveness for both Greece and the EU .

Mr. Hatzidakis underlined, among other things, the following:

For Europe: We need a more efficient Europe. The key word is “competitiveness”. For this reason we should take seriously the Leta report, the Ntragi report that will be published in the coming months, proceed with the third pillar of the banking union, improve the mechanisms of the single market and consider alternative mechanisms concerning common procurement in specific sectors in order to strengthen competitiveness in the EU. This would of course also be beneficial for Greece as an EU member state. However, regardless of the policies decided in Brussels, we will continue with the same economic policy mix in order to attract more investments to Greece as this is the secret to creating new jobs. We are absolutely delighted that American giants like the Pfizer, JP Morgan, Cisco, Google, Amazon, Microsoft decided after many years to expand their activities in Greece or invest for the first time in the country.

For the development: Greece’s growth rate is 5 times the Eurozone average, despite the effects of international developments and the major natural disasters that hit our country. And this underlines the success of our policy mix, which has been based on two pillars. Fiscal discipline on the one hand and a pro-investment approach on the other.

For debt: There is an impressive reduction in Greece’s public debt. Public debt as a percentage of GDP has recorded the largest reduction in the entire European Union. Our goal is to continue on the path of fiscal seriousness in order to achieve even better results. If one looks at the studies by the European Commission, the OECD and other international organizations, it seems that they accept that there is visible progress in the Greek economy and of course a reduction in the country’s public debt in the last 4.5 years during the administration of K. Mitsotakis.

For the financial crisis: The country in the last decade had a very dramatic experience, but we learned our lesson. This government is determined to follow suit in order to attract more investment and further reduce unemployment. We will continue to be reliable and achieve visible results. Of course, there are lessons for Europe to learn. However, our priority is the Greek economy. For this reason, during the discussions we had about the new European Stability Pact and the flexibility given to specific member states, I emphasized that regardless of the regulations, Greece will continue on the path of fiscal stability. And this is because, apart from the surveillance of the European Commission, we also have surveillance from international markets and investors.

For banks: Our banks have paid for the state’s mistakes in the past but are now moving forward. We recently had four divestment procedures in the country’s four systemic banks that were completed with particular success. It was a vote of confidence from international investors and the market in the Greek economy and banking system.

For defense spending: Greece already spends 3% of GDP on defense and is in second place in the ranking of European NATO member countries, after Poland. So we have reached the targets that were set and I believe that all Member States must comply with the regulations.

On the possibility of Mr. Trump’s re-election: As Europe we cannot intervene. We will respect the decision of the American voters and try to work with the other side of the Atlantic. I really believe that, given the international turmoil, the EU and the US are “doomed” to work together. Of course there are different perspectives, I do not underestimate that, however we have a lot in common, shared values ​​and to some extent the same interests. So we have to work together and I believe we will succeed.”