Greek Prime Minister Kyriakos Mitsotakis, in his weekly online review of government initiatives, on Sunday, March 9, reflected on what he described as a “turbulent” week, highlighting key developments both domestically and internationally.
According to Mitsotakis, recent events underscored the broader question of Greece’s direction in an increasingly fluid geopolitical landscape, where long-held certainties are now up for debate.
He expressed satisfaction with the outcome of last Thursday’s European Council meeting regarding EU defense stating that, for the first time, conclusions were reached at the EU level that fully aligned with Greece’s longstanding national positions.
A key takeaway from the summit, he noted, was the agreement on defense spending within the EU, which he described as a significant success for Greece, further strengthening the country’s security against potential threats.
Addressing the recent no-confidence motion against his government—triggered by nationwide protests over the Tempi rail disaster—Mitsotakis emphasized the need to focus on progress rather than political confrontation.
He acknowledged the public’s demands for truth, justice, and modernization of the railway system, pledging to accelerate reforms to address systemic issues. He reaffirmed that the tragedy would not be forgotten and stressed the government’s commitment to ensuring that legal proceedings move forward.
On the economic front, the prime minister pointed to fresh data from Greece’s statistical authority, ELSTAT, showing a drop in unemployment to 8.7%—the lowest in 17 years. The most significant improvements were seen among women and young people, with unemployment in these groups decreasing at a notably faster rate.
Greece’s economy, Mitsotakis highlighted, has now recorded 18 consecutive quarters of growth. Investment remains a key driver, with gross fixed capital formation rising by 9% in the fourth quarter of 2024 compared to the previous year, alongside a 3.6% increase in exports. The country’s recent credit rating upgrade by DBRS was described as another vote of confidence in Greece’s economic trajectory.
On the housing issue, Mitsotakis acknowledged the lack of “automatic or magical solutions” but pointed to ongoing efforts to provide relief through various initiatives. He cited the increase in housing subsidies to 2,500 euros for those in shared accommodations and the construction of five new student dormitories to house nearly 10,000 students nationwide.
Additionally, he mentioned renovation efforts at existing facilities, including the Athens Men’s Student Hall on Patision Street, which will be refurbished with funds from the National Development Program.
The prime minister also highlighted the development of three new apartment complexes for military personnel and the approval of three strategic tourism investments worth 1.2 billion euros. These projects, aimed at high-end tourism development, are expected to create significant opportunities for local communities.
In terms of energy security, Mitsotakis announced the launch of an international tender for the exploration and exploitation of hydrocarbon reserves in offshore areas “A2” and “South of the Peloponnese” in the southern Ionian Sea. This initiative, he noted, aligns with Greece’s broader strategy for securing its energy future.
