Europe needs “unity, coordination, and speed” in the face of geopolitical upheavals and their economic consequences, Kyriakos Pierrakakis emphasized in an interview with ERT, just hours after presiding over his first Eurogroup meeting.

The new Eurogroup president spoke about geopolitical challenges, the defense industry, the new European momentum in decision-making, and the Greek fiscal plan. As he stressed, Greece supports the European response to developments “always based on international law, sovereignty, and the territorial integrity of states.”

Investments in Defense with a European Strategy

Referring to the issue of strengthening defense spending, Mr. Pierrakakis pointed out that investment in defense, and especially in the defense industry, “is necessary and beneficial for the economy, provided it is done with strategy, organization, and joint procurements.” He said, “Market uncertainty is an issue that concerns us all, but the proper utilization of European tools, such as the SAFE Fund of 150 billion euros, can act as a lever for growth.”

New Speed in Europe’s Decision-Making

Regarding the swift conclusion of the Eurogroup on the candidacy of Croatian Boris Vucic as Vice President of the ECB, the minister noted that “European institutions must operate faster.” He said, “We cannot face enormous geopolitical challenges and delay important institutional decisions.”

He also referred to the next steps of economic integration, saying, “The deepening of the Single Market, the Union of Investments and Savings, and the digital euro are links in the same chain that strengthen growth and opportunities for citizens,” adding that “all of this must translate into tangible results and improvements in everyday life.”

“The Largest Tax Reduction Since the Restoration of Democracy”

In the area of the Greek economy, Mr. Pierrakakis emphasized that “the largest tax reduction since the restoration of democracy” is already being implemented, which, as he said, “increases disposable income for everyone — public servants, private employees, and freelancers — and takes into account social and demographic criteria such as family status and age.”

Regarding next steps, he avoided announcing new relief measures before the Thessaloniki International Fair in September, noting that the fiscal space for 2026 is estimated at 800 million euros. He said, “Measures are announced when they are mature; the word ‘may’ is always better than ‘will.’”

In closing, the Finance Minister highlighted that his goal is “to turn European strategies into tangible results” and “to continue the policy of tax reductions with absolute fiscal discipline.”