Greek Finance Minister and Eurogroup President Kyriakos Pierrakakis has called for a shift in European policymaking, arguing that “strategy must become synonymous with implementation” as the European Union faces mounting economic challenges.
Speaking at the opening of an informal meeting of senior EU economic officials, co-hosted by the Greek Ministry of Finance and the Bank of Greece, Pierrakakis stressed the need for stronger coordination and faster delivery of agreed reforms across member states.
He highlighted Greece’s recent economic performance, pointing to a primary surplus of 4.9% and noting the country’s strong recovery indicators, including historically low unemployment and sustained growth. He said Greece’s policy mix had not only become socially accepted but had also been consolidated through a broader shift in economic mindset.
According to Pierrakakis, Europe already has a clear policy roadmap, but progress has been slow. “We all know what needs to be done,” he said, adding that the challenge lies in implementation rather than agreement on principles.
He pointed to initiatives such as the Savings and Investment Union, noting that while there is broad consensus on its importance, member states often attach national reservations that slow down progress. He urged officials to identify the areas where convergence is possible and prioritize those for immediate action.
Pierrakakis emphasised the role of technical bodies in preparing policy groundwork, while describing ministers as catalysts responsible for turning proposals into action. “We need to move quickly,” he said, warning that Europe risks being shaped by external forces if it does not act decisively.
He concluded by stressing that European countries face a choice between actively shaping future decisions or being shaped by them. “We do not have the luxury of the second option,” he said.
The meeting brought together senior representatives from EU member states, the European Commission, the European Central Bank and other institutions, focusing on key economic policy challenges and the need for greater convergence in European decision-making.
Source: tovima.com
