“What makes investors very comfortable (including investing in Greece) is that they don’t see a country at risk”said the Prime Minister, Kyriakos Mitsotakis, in the context of an event by the Bloomberg agency entitled “The New Era of Greek Banking”at the Great Britain Hotel.

“We have a comfortable stable majority. And an absolute commitment of mine that we will finish our term and have an election in the Spring – early summer of 2027. So investors know that we have about 2.5 years under the popular mandate to implement our policies.”noted the prime minister and added: “They know what to expect. They know we are a one-party government, so we don’t need to engage in negotiations. You only have to look at what is happening in other countries in Europe to understand what an advantage this political stability is. It is the exception to the rule in Europe today.”

Greece will repay prematurely, in 2025, another 5 billion euros borrowed under the first memorandum, Mr. Mitsotakis. “The specific loans are scheduled to mature between 2033 and 2042”he added.

“The new early repayment, following the early repayment of loans amounting to 8 billion. euro from the first memorandum expected to be concluded in December sends a clear message to the markets about Greece’s commitment to fiscal stability and reducing public debt”the prime minister emphasized.

There is a way to go, said Mr. Mitsotakis, citing wages and GDP per capita as areas in need of improvement. He also said high prices of everyday goods are holding people back, including energy. The prime minister blamed the European electricity market for differences in electricity prices, which he said customers in south-east Europe were paying far more than in other EU countries. Electricity prices in Greece were three times higher than in Germany on Sunday, according to energy think tank Ember.

“Now we have something that represents the European energy market with 26 different strategies. And if you look at the price differences, especially when it comes to south-east Europe, it’s unacceptable what’s happening,” he noted. It is recalled that in his letter to the European Commission this year, Mr. Mitsotakis urged the EU to create a bloc-wide energy regulator.

At the same time, referring to the deletion of Antonis Samaras from ND, Mr. Mitsotakis said: “What happened, happened. And I think the decision was explained very clearly. My job is to look ahead and into the future. Again I want to point out that we have a comfortable parliamentary majority. And in these turbulent times, the last thing we want is to experiment with political stability. Treat it as an individual thing. I am sorry for this single moment. We’re leaving her behind now. Yes, I think the important thing is to make sure we deliver on our commitments.”

Early repayments

“Despite having the highest debt-to-GDP ratio in the Eurozone, Greece has made a significant recovery from its decade-long debt crisis, when the country flirted with default and tested the unity of the currency bloc. Greece’s economy has outperformed the Eurozone every year since the pandemic and is expected to continue to do so in 2025 and 2026. During the height of the Greek debt crisis, the country saw its unemployment rate reach nearly 30%. For 2024, it is expected to decrease to 10.5% and further decrease to 8.5% in 2028. Despite the cost of living crisis, many taxes imposed or increased during the crisis have been reduced or even abolished, while the minimum wage increased to 830 euros per month from 650 euros in 2019,” the Bloomberg agency emphasizes in its report.

It is not the first time that Greece has paid off its debt obligations earlynotes the international Bloomberg agency. In December, it will complete the repayment of bailout loans amounting to 7.9 billion. euro. This, however, will be the first time that Greece will repay part of its long-term debt.

It is noted that in 2023 the country regained investment gradewhich he lost in 2010 before the first bailout. The European Commission’s latest forecasts predict that Greece’s GDP will grow by 2.3% in 2025 and by 2.2% in 2026, compared to 1.3% and 1.6% in the Eurozone.

“Greece may still have the highest debt-to-GDP ratio in the Eurozone, but that ratio is falling. In 2020, the debt level reached a record high of 207%, but is expected to fall to just under 153% this year. Finance Minister Kostis Hatzidakis unveiled in September his plan to further reduce the debt by around 20 percentage points by the end of 2028,” Bloomberg points out and adds: “High primary surpluses along with the early repayment of bailout loans and revenues from privatizations have helped in the effort to put the Greek debt on the path of reduction”.

Mitsotakis urges trade deal with Trump to avoid trade war

Continuing, Mr Mitsotakis warned of the damage a trade war with the US would do to the European Union and said a deal with the incoming administration of Donald Trump was possible.

“I’m worried about tariffs because I’m a proponent of free trade and I think tariffs ultimately don’t create a kind of positive impact”said the Prime Minister. “A trade war between the US and Europe would clearly not benefit the US or Europe.”

It is noted that Trump has caused concern in Europe with his threat to impose tariffs of 60% on China and 10% to 20% on the rest of the world. During his first term, Trump hit European steel and aluminum exports with tariffs, prompting an escalation of retaliatory measures with the EU.

The EU has already drawn up a list of US products it could hit with tariffs if the new Trump administration follows through on its threat to hit the bloc with punitive trade measures, Bloomberg reported last month. New tariffs against the US are not a priority for the EU and will only be used in retaliation to a move by the White House.

“I think an agreement can be reached with the US”said Mitsotakis, who is one of the few EU leaders who has worked with Trump, the international agency emphasizes. It is recalled that Mr. Mitsotakis spoke with Trump last weekinviting him to visit Greece.