Greece’s Ministry of National Economy and Finance published remarks by Minister Kyriakos Pierrakakis to European Union member-state ambassadors in Athens, calling for accelerated delivery on the EU Savings and Investments Union, progress on the digital euro, and rapid reductions in bureaucracy at both EU and national level. Pierrakakis described non-implementation of the Savings and Investments Union as the “largest missed opportunity” and framed the digital euro as a potential anchor for the financial system as it moves into a digital environment. He also argued that the priority should be execution, including selecting proposals where consensus is most achievable, noting that the Draghi and Letta reports already set out ideas, while stressing that national sensitivities must be taken into account. On fiscal policy, he emphasised the need to maintain fiscal balance in Europe and highlighted Greece’s progress, citing a plan to reduce the debt-to-GDP ratio to 119% by 2029. He linked Greece’s recent economic improvement to three pillars: stable public finances, extensive reforms, and a change in mindset in public administration.
Ministry of National Economy and Finance (Greece)2025-12-05
Greece’s Ministry of National Economy and Finance urges faster EU action on the Savings and Investments Union and digital euro and reiterates debt-to-GDP target of 119% by 2029
Greece’s Minister Kyriakos Pierrakakis urged EU ambassadors to expedite the EU Savings and Investments Union, advance the digital euro, and cut bureaucracy. He emphasized execution and consensus, referencing reports, while stressing fiscal balance and Greece's plan to reduce its debt-to-GDP ratio to 119% by 2029. He attributed Greece's economic progress to stable public finances, reforms, and a shift in public administration mindset.