In remarks at the Hellenic Capital Market Commission’s anniversary symposium, Minister of National Economy and Finance Kyriakos Pierrakakis called for common European supervision where cross-border capital market risks are systemic, citing large crypto-asset service providers as an example. He argued that an integrated EU capital market cannot operate effectively with 27 different supervisory approaches, while national authorities should retain their role as on-the-ground supervisors. Pierrakakis linked stronger European supervision to the Savings and Investments Union and completion of the Banking Union, with the aim of directing more than EUR 10 trillion in underused European savings toward EU businesses and investment. Domestically, he reiterated Greece’s goal of raising annual investment from EUR 46 billion to more than EUR 60 billion by 2030 and from 11% of gross domestic product in 2019 to 20%, close to the EU average of about 21%. He also pointed to on-site inspections, stronger preventive supervision and the first licenses for crypto-asset service providers under the Markets in Crypto-Assets framework as evidence of the Hellenic Capital Market Commission’s strengthened role.
2026-09-09Ministry of National Economy and Finance (Greece)
Greece’s Ministry of National Economy and Finance backs common EU supervision of systemic cross-border capital market risks
Minister of National Economy and Finance Kyriakos Pierrakakis called for common EU supervision where cross-border capital market risks are systemic, while preserving national regulators’ on-the-ground role. He linked deeper capital market and banking integration to mobilizing more than EUR 10 trillion in European savings and reiterated Greece’s target of exceeding EUR 60 billion in annual investment by 2030.