Kyriakos Pierrakakis welcomed the European Commissioner for Financial Stability, Financial Services, and the Capital Markets Union, Mairead McGuinness, to the Ministry of National Economy and Finance.

During their meeting, they exchanged views on “the economic situation in Europe and Greece, with a focus on the Commissioner’s portfolio and the European challenges related to markets and financial stability,” according to the Greek minister.

“We also discussed the significant benefit that lifting barriers between EU member states in the services sector would bring to both the European and domestic economies—barriers which, according to Mario Draghi, are equivalent to a 110% tariff,” noted Mr. Pierrakakis in a post.

The Minister of Finance made particular reference to the Greek banking system, which, as he stated, “has been significantly strengthened,” since “deposits are steadily increasing, the financing of the real economy is expanding year by year, and banks operate under conditions of transparency and credibility.”

Mr. Pierrakakis also outlined his priorities, which are “the deepening of the Capital Markets Union and the completion of the Banking Union—that is, the necessary steps to move toward a comprehensive Union of Savings and Investment, the initiative being promoted by the Commissioner.”

As he added, Greece supports innovative initiatives and invests in digital financing tools, utilizing European resources for projects with high added value.

Concluding his statement, Mr. Pierrakakis emphasized that Greece has not only returned to normalcy, but now “serves as a model of stability and growth in Europe,” thanks to a coherent reform plan and a continued commitment to fiscal responsibility.