Greek Prime Minister Kyriakos Mitsotakis, in a file photo. ‘Greece is one of Europe’s outperformers, demonstrating that even the most severe economic crises can be overcome with the right measures,’ the author says. [AP]
Greece has made a remarkable economic recovery, transitioning from the brink of default to one of Europe’s top performers. A decade ago, the country faced severe economic challenges, implementing debt restructuring and capital controls. Today, Greece stands as a success story, attracting international investors and experiencing growth above the EU average.
Under the leadership of Prime Minister Mitsotakis, Greece has regained investment grade rating, stabilized debt levels, and achieved a sustainable primary surplus. The financial sector has rebounded, with major banks like Eurobank and National Bank of Greece distributing dividends. Privatization efforts and fiscal discipline have further contributed to the country’s economic turnaround.
This success is not isolated, as other European countries like Spain and Portugal have also emerged from crises with strong growth. Despite challenges like low birthrates and climate disasters, Greece’s recovery serves as a beacon of financial stability and market confidence in a changing Europe.
Constantin Cotzias, European director at Bloomberg LP, highlights the significance of Greece’s revival as a model for strategic reforms and investor confidence in rebuilding a nation’s fortunes.