“Ten years after its near-expulsion from the eurozone, Greece is getting its revenge: its finance minister, Kyriakos Pierakakis, was elected Thursday by his peers to head its governing body, the Eurogroup.”

This is how Le Monde begins the news of Kyriakos Pierrakakis’ election to the Eurogroup, conveying also Kyriakos Mitsotakis’ message that “this is the most brilliant recognition of the positive course of our country” and “a day of pride for the country, for the government and for all citizens.”

“A victory and a symbolism,” writes Les Echos, also noting that “ten years after the Greek crisis, Athens takes over the presidency of the Eurogroup.”

“Kyriakos Pieracakis was elected this Thursday in Brussels by the twenty eurozone finance ministers. A symbolic redemption for Greece, whose fate was decided behind the closed doors of the Eurogroup ten years ago,” the paper adds.

“A sweet revenge,” the French newspaper continues, stressing that this “is the first time a Greek will hold such a high office in European institutions.”

The difference between Greece’s position a decade ago and today was pointed out yesterday by many of the publications commenting on the election of Kyriakos Pierrakakis.

Politico writes that “the country that was almost expelled from the eurozone now presides over the powerful European body that saved it from bankruptcy.”

And it adds that Pierrakakis’ predecessor (meaning Yanis Varoufakis) described the Eurogroup “as a place fit only for psychopaths”. Today, Greece is the example of fiscal restraint.”

Ten years after its near-exit from the eurozone, Greece is getting its revenge: Finance Minister Kyriakos Pierakakis was elected Thursday by his peers to head its governing body, TV5 reports.

It even quotes French Economy Minister Roland Lesquerre as saying, “It’s a wonderful story!” “A little more than 10 years ago, it was at the Eurogroup that measures were designed and implemented to rescue Greece, which was then in a very difficult economic and financial situation,” he added to reporters.

A computer scientist who studied at Harvard University and MIT, Pierrakakis is considered the architect of Greece’s demographic and digital reforms. He also became known throughout Europe through his effective management of vaccination during the coronavirus pandemic,” writes Handelsblatt.

After years of painful reforms, writes Spiegel about the election of Pierrakakis, the country can record a budget increase and has higher economic growth than most other EU countries.

Greece’s “spectacular turnaround” from 2010 to the present is referred to by Euractiv, which quotes diplomats with knowledge of the situation who say the Belgian minister’s candidacy “was affected by his government’s strong opposition to the European plan for loans to Ukraine”. He is even considered “more dynamic and spontaneous” in the Eurogroup discussions than his Belgian counterpart.

That Greece has elected its first minister at the helm of the Eurogroup is highlighted by Bloomberg, which says Kyriakos Pierrakakis’ elevation is an “escape from the past of bankruptcy and memoranda.”

A candidate with a positive narrative was seen in him by ministers, Euronews writes, noting that he emerged as president by gathering a broad consensus.

The memory of the dramatic June-July 2015 talks is still vivid, when Greece, led by Alexis Tsipras and controversial finance minister Yanis Varoufakis, was on the brink of bankruptcy and looked set to leave the euro, recalls Italian Il Sole 24 Ore.

Greece’s course since 2010 and the bailout to the present day is highlighted by Spain’s El Pais, which reports that Spanish minister Carlos Cuervo had not put his cards on the table as to which candidate he would support.