“I remember the first time I had the honor of addressing the General Assembly of SEV as leader of the opposition ten years ago. I had committed to five key points,” emphasized Kyriakos Mitsotakis, speaking at an open event during SEV’s annual General Assembly at the Athens Concert Hall.

The Prime Minister noted that today, from the same platform, he can say that those five commitments have guided his path as Prime Minister, and that we all recognize that economic growth is linked to individual prosperity.

Mr. Mitsotakis spoke about the rise in investments, the reduction of unemployment to 8% with a further downward trend, the digital transformation of the public sector, the reduction of 83 taxes—20 of which concern industry—the clearing of bad loans from banks, the improvement of the business environment, the sharp decline in public debt, and the lower interest rates on Greek bonds.

“Greece, the pariah of 2015, now borrows at lower rates than powerful European economies,” the Prime Minister stressed, pointing out that this is happening in a global environment filled with huge challenges and turbulence.

The Prime Minister referred to government crises across Europe, and the resurgence of populism which, as he said, has the power to turn every systemic challenge into systemic doubt.
“I mention this so we understand how valuable political stability truly is. There is no economic outlook without political stability, no investments without a stable environment.”

Watch Mitsotakis’ speech
Speech by Kyriakos Mitsotakis at the Open Event of SEV’s Annual General Assembly

To further clarify the importance of his political message, Kyriakos Mitsotakis cited two examples: the government crises erupting in Europe—such as in France—and how quickly populism resurfaces. At the same time, he emphasized that the characteristics of political stability, which Greece has achieved through many trials, are unfairly and frivolously questioned—something that has been happening more frequently lately.

Closing Remarks
Mr. Mitsotakis also noted how unpleasant it is that prominent foreign figures have to remind us of what should be obvious, which we often fail to recognize amid the toxicity of political confrontation.
“We too should be a bit prouder, Mr. Nagel, because these are no small achievements,” he said, addressing the President of the Bundesbank and Member of the ECB’s Governing Council, who had earlier spoken with journalist Pavlos Tsimas at SEV’s General Assembly.

The Prime Minister addressed a wide range of topics, focusing on national production, competitiveness, and growth, as well as the major issue of high energy costs, which impact businesses—especially domestic industry.
“The solution must boost competitiveness, within fiscal frameworks, support energy-intensive industry, and have a broader network of beneficiaries,” he said on the matter.

With reference to the reappearance of Alexis Tsipras and the state of the political landscape and opposition parties, Kyriakos Mitsotakis reiterated that “stability is the foundation for every further prospect,” recalling the consequences of simplistic solutions, promises without substance, and illusions during a time when the economy was in intensive care.
“It is our national duty never to go through that again,” the Prime Minister noted.

At this point, he made it clear that only strong governments can guarantee that the necessary changes will be implemented to keep the economy on a path of prosperity—without succumbing to populism and away from any political experimentation.
“What the Greek people have achieved so far did not come easily—and tomorrow, none of it is guaranteed,” he added.

“Our plan serves one goal: to make Greece a country where one would want to live, study, work, invest, and create. A country where the new generation will live better than the previous one. Something that wasn’t a given until 2019.”

Addressing citizens, he stressed:
“But this cannot be achieved by any government alone. Either we achieve it together, guided by truth, balanced growth, and responsible patriotism—or we return to misery and nihilism. To introversion, complaint, and the era of loud slogans and minimal effort. A path we have walked before and seen the cost of its dead end.”

To Greek industrialists, he said:
“In 2016, I asked you, for the first time, to join this effort. You responded. Yet the demands of the era are now even greater. You are called upon to invest your now-significant profits in our country. To adopt practices that respect the consumer. To integrate new technologies more decisively into your operations.”

“I invite you to renew our informal agreement together, aiming at collective progress. So we can move forward, without delays or setbacks, toward the Greece of 2030.”

Warm words from Nagel on the economy’s progress
Just minutes before Mitsotakis’ speech, the Governor of the Bundesbank, Germany’s central bank, and a member of the ECB Governing Council, spoke with particularly complimentary words about the progress of the Greek economy and the government’s reforms:
“I have a rule not to comment on other countries’ affairs, but today I’ll make an exception. I have deep admiration for Greece’s economic transformation over the last decade. Greece overcame major challenges, showing remarkable resilience. It implemented difficult but necessary reforms—and we can say that Greece’s economic transformation is truly impressive,” said Nagel.

The ECB official made specific reference to the reduction of Greece’s debt—thanks both to economic growth and significant primary surpluses. He also highlighted the country’s determination to continue achieving primary surpluses to further reduce its debt.
Special attention was also given to the drop in unemployment in Greece.