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As the global economy wobbles, Athens stands unusually tall.
In a week when storm clouds gathered over global trade and inflationary fears returned to the headlines, Greece, long cast as Europe’s economic problem child, emerged as a voice of cautious optimism at the OECD ministerial summit in Paris, Kyriakos Pierrakakis, Greece’s newly appointed Minister of National Economy and Finance, met with OECD Secretary-General Mathias Cormann to discuss the country’s transformation. The message was clear: Greece is no longer seeking sympathy but seeking leadership.
“There has been extraordinary progress,” said Mr. Cormann. “Greece is growing faster than the eurozone average. Its debt is shrinking. Unemployment is down. The regulatory and political environment has improved dramatically.” From the head of the OECD, such praise is not handed out lightly.
Indeed, recent data backs up this upbeat narrative. The OECD forecasts over 2% annual growth for Greece through 2025 and 2026, driven by a surge in household income and investment activity. The inflation rate is cooling. Once an elusive target has been achieved, primary budget surpluses are projected to persist. These trends suggest a remarkable pivot for a country once synonymous with austerity, crisis, and bailouts.
Yet no one in Paris was popping champagne corks. Mr. Cormann quickly noted that global fragility remains a serious concern, particularly for open, export-oriented economies like Greece. Trade tensions, rising protectionism, and tariff threats from Washington are now more than diplomatic headaches; they are material risks to economies that have fought hard to re-enter global markets. “If Greece’s trading partners suffer, Greece suffers too,” he warned.
The emphasis on multilateralism was unmistakable. “We must sit at the same table and solve problems through dialogue,” Cormann urged, invoking a vision of economic diplomacy that feels increasingly nostalgic in a fractured world. Pierrakakis echoed the sentiment, positioning Greece as a success story and an active contributor to regional stability and transformation, especially in Southeast Europe.
He said his government was pursuing leadership in two of the continent’s defining challenges: green and digital transitions. The reference to his track record in digitizing public services was deliberate. Pierrakakis, previously Minister of Digital Governance, was instrumental in launching Greece’s digital state platform, which is now a model across southern Europe.
Greece’s message in Paris was both pragmatic and aspirational: it is not immune to global shocks but better equipped than ever to weather them. And as it navigates this post-crisis era, it hopes to move from the periphery of European politics to a position of influence. If its recent economic rebound is anything to go by, that ambition may no longer sound far-fetched.
For once, the story of Greece at an international economic summit was not about crisis management. It was about credibility and, perhaps, a comeback.
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