Yesterday’s (12.5.2025) announcements between the US and China are moving in a positive direction, as they contribute to the decline in tension in their bilateral trade relationship, the Minister of National Economy and Finance said. Kyriakos Pierrakakis After the end of his work Eurogroup and Ecofin in Brussels.
Specifically, Mr. Pierrakakis said: “Yesterday, at the Eurogroup, we had the opportunity to discuss our strategic priorities, especially the creation of the digital euro and the completion of the banking union. Today, we discussed the global economic prospects and in this context I had the opportunity to confirm Greece’s commitment to an international economic class based on rules, as well as our support to the European Commission to develop an integrated trade agreement between the United States and the European Union.
In this context, yesterday’s announcements between the US and China are moving in a positive direction as they contribute to the decline in tension in their bilateral trade relationship. And this is already evident, as reflected in international and stock markets.
Today, at Ecofin, we discussed two very topical issues. First, Europe’s competitiveness. There it is necessary to reduce bureaucracy – the so -called “regulatory weight” – and at the same time to strengthen it through the union of savings and investment.
The second issue is defense. Defense is not just another policy. It is a geopolitical necessity for all Member States. Two weeks ago, Greece applied for the activation of the national defense escape clause in order to create a fiscal space for the necessary defense investments we have already planned.
At the same time, the development of a National Defense Industry is our strategic priority and in this light we fully define the principles of the Safe tool, which aims to gather resources for common supplies. We firmly believe that it is necessary to gather resources at European level in order to achieve essential benefits in the field of defense. “
Banking Union and Digital EUR
At the Eurogroup meeting held with the participation of the President of the European Central Bank Supervisory Council, the Greek Minister of National Economy and Finance referred to the need to deepen the institutional architecture of the banking union. As he characteristically pointed out, “its completion will contribute to both simplification and resilience to the European banking sector”. Kyriakos Pierrakakis expressed Greece’s support for the efforts to introduce and circulate the digital euro, which in addition to being a technician, he said, “and a political venture of particular importance”.
Taxation of third -country products sold on electronic platforms
In today’s ECOFIN Council, the finance ministers discussed the VAT directive on remote sales of imported goods from third countries and the payment of VAT during the importation of these products. Hellas supports the effort and is in favor of the need to make progress in taxing imported goods from third countries, which are not taxed to date.
Union of savings and investment
The finance minister described the strategic objective for a union of savings and investment as a “emblematic policy” and stressed that crucial importance in this process is the mapping and simplification of administrative procedures interfering with citizens, businesses and states. In this context, he referred to the Greek government’s efforts, through the Mitos platform, to limit bureaucracy. Kyriakos Pierrakakis welcomed the committee’s intention to process a plan for savings and investment accounts, as well as its initiatives to gather private investment in innovative companies.
Funding of a European defense industry
The Minister of National Economy and Finance has admitted the steps taken in the field of European Defense Industry funding and the proposals included in the White Paper for European Defense. For Europe and Greece, he stressed, “defense is a geopolitical necessity”, while for countries such as Greece and Poland “it is also a geographical destiny”.
Referring to the negotiation of a joint financial funding for security in Europe (SAFE), the finance minister stressed that the European Union should proceed with economies of scale and better promote European innovation and research. The regulation is a positive development in this direction. Mr Pierrakakis insisted that “defense is a sensitive issue, it is a matter of sovereignty. More common steps need to be taken. ” And he added: “When we gather resources and forces, we must take into account the security concerns of all Member States. Consequently, the possible participation of third parties, non -EU members, must be governed by clear conditions, such as respect for the Council’s conclusions and their alignment with the EU’s common foreign security policy and policy. “
Bilateral contacts
As part of the Eurogroup and Ecofin meetings, the Minister of National Economy and Finance held bilateral meetings with the Executive Vice President of the European Commission on prosperity and industrial strategy, Stephanie Sezourne, with the Executive Vice -President Commissioner for Budget, Family Fraud and Public Administration, Mati Serafin. Kyriakos Pierrakakis, finally, had a bilateral work meeting with Italian Finance Minister Giancarlo Georgetti.