His admiration for the financial performance of Greece was expressed by the Governor of the Central Bank of Germany (Bundesbank) and a member of the Board of Directors. of the ECB, Ioakim Nagel, speaking at the General Assembly of the Association of Business and Industries (BSE).
The German official described the Greek economy as “very impressive” and stressed that, although he avoids commenting on other countries, in the case of Greece he felt “obliged to make an exception”.
“Greece overcame the Eurozone”
Nugel referred to the insistence on reforms and the strong growth that the country has been presenting in recent years, noting that the growth rate of GDP in 2024 was far higher than the eurozone average.
At the same time, it praised the significant improvement in the labor market, where unemployment has fallen to 8%, a percentage that, he said, proves the dynamic recovery of the Greek economy.
“Greece borrows cheaper from France and Italy”
His reference to the cost of borrowing the country, which – as he noted, is less than that of France and Italy.
“This means that markets show more confidence in Greece than in the second and third largest eurozone economy,” he said, noting that the Greek “success story” is an example to Europe. The Bundesbank leader also noted that the Greek experience should also serve as a lesson for Germany, which is facing – as he said – serious structural challenges that “require immediate attention”.
Mitsotakis: “Let’s be a little more proud”
Referring to the comments of the German banker, Prime Minister Kyriakos Mitsotakis stressed in his speech that this recognition from abroad should be a reason for national pride, stressing that “the toxicity of political confrontation often prevents us from seeing real success”.
“It is sometimes unpleasant that people from abroad have to come from abroad to remind us of the obvious, which we find, in political polarization, to recognize. So let’s be Dr. Nagel, and we are a little more proud of what we have conquered. Because, I assure you, it’s not a few, “the prime minister said.