The need for more political consensus in Greece in order to make major changes in the Greek economy, underlined the Governor of the Bank of Greece (BoG), Yiannis Stournaras, speaking tonight at the event entitled ‘Thessaloniki 2030’organized by Grant Thornton in Thessaloniki, under the auspices of the Associations of Greece (SBE) and Exporters (SEVE).

“We are calling for political consensus so that we can make big changes. We do them, we are progressing, but I think we need to coordinate our efforts more, ”said Stournaras, adding that in the difficult international economic environment, the Greek economy continues to show strong durability, record positive performance and” stand out in Europe “.

As he said, growth – which in 2024 stood at 2.3%, significantly higher than the European average – is projected to continue in 2025, with private consumption and investment driving forces.

“Investments are steadily increasing and contributing substantially to economic recovery. Their contribution to the annual growth rate far exceeds the average of the eurozone. But the investment gap in Greece remains significant compared to the eurozone, as, despite their strong growth, investment in Greece in 2025 is expected to reach close to 16% of GDP compared to about 21% in the eurozone, “he said.

He added that the present context is characterized by increased geo -economic challenges, but also by significant transformation rooms: “Our ability to enhance the durability of the economy, to accelerate the attraction of investment, and to form more viable and productive development in the country and will specify its country and its European economic development.” He underlined, while also referring to the strengthening of productive investment, the increase in business funding in 2024 and early 2025 and the fact that “tax revenue is increasing permanently”.

‘What the US is doing is absurd’

Referring to the imposition of historically high US duties on US strategic trade partners, he expressed the belief that “what the US is doing is absurd will be affected primarily.” He added that although the temporary decline in tensions between the US and China is moving in a positive direction, “the risks of a prolonged trade war are maintained at high levels, difficult to plan economic policy on a global scale.”

The European economy, he appreciated, is demonstrating relative durability, but growth remains sluggish and prospects are subject to downward dangers, which are multiple and complex.

The critical opportunity for Europe and the euro

Mr Stournaras, however, also sees a critical opportunity for Europe, which is “its ability to emerge in a stable and safe investment refuge, with reinforcing the role of the euro as an international reserve currency”.

Increased demand for European securities, he explained, can enhance the liquidity and opportunities of funding the European economy, supporting productive investment and long -term competitiveness.

“However, the strategic exploitation of this opportunity requires the acceleration of European integration and the basis of the economic and monetary union. The completion of the banking union, the creation of a fully functional capital markets, the removal of all significant obstacles left in intra -Community transactions and the increase in investment in technology, defense and green development are critical priorities. These initiatives are necessary to enhance competitiveness and to strengthen Europe’s strategic autonomy. “

The comparative advantages of northern Greece

Mr Stournaras also described Northern Greece as a crucial pillar of the national economy, which contributes over 1/5 of the country’s GDP, while making a special mention in its geographical location: “The proximity to the eastern markets, the trade flows to the western Balkans and the existing infrastructure and the existing infrastructure and the existing infrastructure. Logistics, energy and processing. “

Northern Greece, it added, has significant business mobility, with high concentration of new businesses: During the period 2021-2024, 24.5% of new businesses founded in the country are based in northern Greece – the second highest percentage after Attica (38.9%). In the process of manufacturing, the area accounts for 26.3% of new businesses (compared to 40.2% in Attica).

The “bump” of low competitiveness and the signs of positive dynamics

According to Mr Stournaras, the main challenge faced by the overwhelming majority of Greek regions relate to their low competitiveness: according to the European Index of Regional Competitiveness (2022), only Attica ranks relatively high, while the remaining 12 regions are low.

As a result, as a recent study by IOBE (2024) points out, the Attica Region contributes to almost 50% of Greece’s GDP, absorbing more than 1/3 of total domestic investment, performing more than half of total domestic exports and occupies the largest share of employment.

The Region of Central Macedonia, although the second population of the country in the country, follows with a large difference. “However, there are signs of positive dynamics: from 2019 to 2022, nine of the 13 regions of the country – mainly in northern Greece – have improved the competitiveness index, indicating that, under appropriate conditions, they can accelerate convergence and enhance their investment attractiveness.”

Important challenges in terms of social cohesion

Mr Stournaras added that, despite the progress made in recent years in increasing disposable income, there are still significant challenges in terms of social cohesion. In particular, Western Macedonia and Eastern Macedonia and Thrace show from the highest population rates at risk of poverty or social exclusion in the country, demonstrating the persistence of intense social inequalities and the need for targeted policies for social cohesion.

In addition, despite the remarkable retreat of unemployment at national level, the regions of northern Greece continue to record high unemployment rates. In 2024, all four regions of northern Greece are in the top five with the highest unemployment rates nationwide, exceeding the national average.

The structural weakness of self -employment in northern Greece

In the meantime, the high rates of self -employment in the regions of northern Greece constitute, according to Mr Stournaras, a structural weakness that burdens the operation of the labor market. “The self -employment rate in these Regions is consistently higher than the national average (27.5% in 2023), with Western Macedonia recording the second highest in the country (38.2%). Excessive concentration in individual or very small business units limits the ability to create stable jobs, discourages investment in human capital and intensifies the difficulties of attracting and holding a specialized workforce. This in turn makes it difficult for the sustainable exploitation of the local productive base and the enhancement of regional competitiveness, ”he said, while also referring to the problem of population shrinkage, which affects all regions of northern Greece, with Western Macedonia being particularly affected.

About Technological Employment

Mr Stournaras also pointed out that “the transition to a model of high intensity of knowledge and technology remains incomplete, especially in regions such as Western Macedonia, where low -performance of technological employment indicators are recorded. On the contrary, in Central Macedonia employment in high -tech sectors amounted to 2.6% in 2024 – the second highest percentage in the country after Attica (5.8%). Remarkable progress in Eastern Macedonia and Thrace is also noteworthy, where the corresponding rate increased to 1.6% from 0.9% in 2023, ”he said.

Northern Greece needs investment in infrastructure

Submitting the policy proposals for Northern Greece, the BoG commander emphasized that emphasis should be placed on sectors of high added value and export orientation – such as the agri -food sector, structural materials, health, digital and green technologies, and green technologies.

Upgrading infrastructure is, finally, necessary to improve regional competitiveness. “Northern Greece needs investment in telecommunications and computer networks, transport (road axes, ports), spatial planning, energy and logistics to become a commercial and innovation node,” he added, adding that interventions such as enhancing energy interconnections, Energy market and revision of adjustable charges and high taxation.