GREEK DISH: Prime Minister Mitsotakis serves message of stability in turbulent times
ATHENS — It’s no secret that the world is in a messy state — to what extent the genesis of much of that lies with the current occupant of 1600 Pennsylvania Avenue is an open question. For his part the Greek Prime Minister, Kyriakos Mitsotakis, delivered the message that Greece is a safe harbor of sorts in a highly volatile period.
Speaking at an event of the Ministry of Development at the “Lighthouse” of the Stavros Niarchos Foundation Cultural Center (SNFCC), Mr. Mitsotakis said that “Greece is responding to the global storm with the anchor of certainty that institutional seriousness and internal stability provide. It is a political gamble by definition, a timely gamble that together, the State and the business community, we will win.”
Amid the prevailing mayhem in the eastern Mediterranean, Greece does stands out for its stability — despite its proximity to a war zone relative to every other member of the European Union with the exception of Cyprus.
Energy issues and energy security are of course among the biggest issues of the day, and become of greater concern with each passing day that hostilities between America and Iran continue. Mitsotakis noted that the conflict is already impacting energy costs, supply chains and even what might termed investment psychology. “The time has come to stand by the energy-intensive industry on the front of competitive energy prices,” the PM said.
“We must not get lost in labyrinths due to overlapping responsibilities and bureaucratic confusion, and we are proceeding with a transformation of the investment reception system — they will be promoted in a timely manner with the help of a central operating mechanism,” he added.
Foreign investment in Greece has been robust in recent years and that looks set to continue. Mitsotakis stated that investments in Greece exceeded 23 billion euros from 2019 to 2023, although the country still lags behind the European average. He noted too that the unemployment rate has dipped significantly under his New Democracy government.
Let’s not forget the importance of tourism to the Greek economy. As the American ambassador to Greece, Kimberly Guilfoyle (who was rumored to have made a stop at Monday’s event), noted recently, Americans alone spent in the neighborhood of $2 billion on travel in Greece in 2024. We expect that figure to be higher when the 2025 number crunching is in.
It’s hard to say where things will go in 2026, but early indications are that despite and in some respects because of the Middle East turmoil, Greek tourism is still largely holding steady.
