The EU finance ministers approved today the request of Greece to activate the national escape clause. ‘The current decision of ECOFIN For the adoption of the escape clause for defense spending is a strategic victory for Greece and a moment of institutional maturation for Europe. Greece, in addition to its sovereignty, defends the external borders of the European Union and needs tools to do so effectively, “the Minister of National Economy and Finance said. Kyriakos Pierrakakis From Brussels, where he participated in the Eurogroup and Ecofin meetings.
“Our country was one of the member states that took the initiative to exclude part of defense spending from budgetary rules. We were one of the first to apply for the request and now we have an additional 500 million euros to boost defense in 2026 and to support Greek citizens, as it opens fiscal space. National sovereignty is not built with slogans, but with initiatives and decisions. And today, we have shown that Greece can claim and succeed, “Kyriakos Pierrakakis at the Eurogroup and Ecofin meetings.
Needs to accelerate digital euro entry
At the heart of the discussions was the issue of digital euro. In his speech, Kyriakos Pierrakakis expressed Greece’s support in the venture, stressing that in an unstable geopolitical environment Europe must enhance its monetary sovereignty.
Referring to the future of digital payments, the minister underlined that there is no room for delay, stressing the need for agreement by the end of the year. He also highlighted the opportunities created by the digital euro, putting the fight against tax evasion in Greece through the enhancement of digital payments.
Union of savings and investment
The need to simplify the existing rules and the removal of unjustified obstacles was pointed out by Mr Pierrakakis, in the context of the debate on the package of revision of the European Commission’s securitization framework.
As the minister typically said, “a common goal is to boost the securitization market in order to channel funds to the real economy for productive investment.”
In this context, Kyriakos Pierrakakis referred to the proposal of the acquisition of the Athens Stock Exchange by Euronext and the investment of the Italian Bank Unicredit in Alpha Bank. These two key developments, he stressed, have both a Greek and European dimension, “as strategic steps that are a vote of confidence in the Greek economy and contribute to the financial integration of the EU and the objectives of the Union of Savings and Investment Union.”
New Presidency Eurogroup and Ecofin
The Minister of National Economy and Finance congratulated Irish Finance Minister Pascal Donochiou on renewing his term in the Eurogroup presidency and expressed his support for achieving the Eurogroup’s goals. At the Ecofin Council, Mr. Pierrakakis welcomed the Danish Presidency program and recognized as key priorities.
Meeting with Commissioner Dobrovskis
The Minister, on the sidelines of the meetings of the Eurogroup and Ecofin councils, met with the European Commissioner for the Economy and Productivity and for the implementation and simplification, Mr Valdis Dobrovskis, with whom they discussed the achievements and challenges of the Greek and European economy and the opportunity for the Greek and European economy. digitization.