Pierrakakis to Le Point: Greece on a growth trajectory, able to absorb shock of Middle East crisis

Pierrakakis noted that the Greek economy has definitely become more resilient in recent years, due to a sustainable growth, the rationalization of public finances, and the continuation of infrastructural reforms.

In its introduction to the interview, Le Point notes that Greece used to be "the sick man of Europe" but is now held as a model of fiscal discipline. Sixteen years after the start of a crisis that nearly brought down the eurozone, Greece is showing remarkable resilience: strong growth, unemployment at its lowest, and debt dropping at a fast rate. However, the magazine noted said, between inflation that stresses households and the threat of a new fuel crisis, the road remains rough. According to Le Point, Pierrakakis, also chairman of the Eurogroup, keeps referring to this transformation. At a time when France is struggling with its own deficits, the Greek minister draws lessons from an unprecedented policy of austerity.

In his comments to questions, Pierrakakis said the lesson was clear - not to repeat mistakes of the past. It is necessary to have sustainable public finances so that the burden is not passed down to the next generations, he stated. Greece is on the right path, and those who establish policy must remain aware of threats; but both politicians and citizens have every reason to remain optimistic, Pierrakakis asserted.