The final battle for the presidency of the Eurogroup, the informal but powerful "conclave" of the Eurozone's finance ministers, begins today (11/12) in Brussels and the two main contenders for the position, namely the Greek Finance Minister Kyriakos Pierrakakis and his Belgian counterpart, Vincent van Peteghem, will have to wait until the afternoon for the result of the crucial vote, for which diplomats and EU officials have expressed extremely divergent and sometimes contradictory predictions.

The 20 Eurozone finance ministers, who make up the Eurogroup, will begin gathering in Brussels at 15:00 Greek time, while the meeting will begin about two hours later. A little later, around the middle of the meeting, the process will begin, after which everyone will know whether the fifth president in the history of the club of EU member states that use the euro as their official currency will manage to be elected in the first vote, or whether a “second round” will be needed.

To secure the presidency, either Mr. Pierrakakis or Mr. Van Peteghem, both of whom come from the center-right European People’s Party (EPP) that dominates the European Union’s political scene, a simple majority is sufficient. Which means that 11 votes out of 20 in total will be needed to see whether the next president of the Eurogroup will come from Greece or Belgium. It cannot be ruled out that, if no majority is reached for a name, the candidate who receives the fewest votes will be asked to step back and the Eurogroup will now unanimously assign the duties to its new president. Something that has happened in the past.

In 2017, the Portuguese Mario Centeno was elected after three votes, while in 2020, Pascal Donahue from Ireland was elected president of the Eurogroup in the second round, defeating Nadia Calvino from Spain, who was considered the undisputed favorite.

Factors that will influence the outcome
The EPP has six votes (Belgium, Greece, Ireland, Latvia, Luxembourg and Portugal) and therefore the process is not only expected to be determined by political criteria and correlations within the European political groups, but also by current geopolitical developments.

Belgium strongly opposes any attempt by the European Commission and many other EU member states to use frozen Russian assets held in EU financial institutions to finance Ukraine, which is in urgent need of financial support. Some €185 billion in frozen Russian assets are managed by the Brussels-based Euroclear financial depository, while another €25 billion are held in institutions in other EU member states, such as France, Sweden and Cyprus.

The Belgian government is concerned that it may eventually be forced to return the money to Moscow if Russia challenges the decision to freeze the funds in a Belgian court or if sanctions against Russia are not renewed. Belgium’s stance has angered several EU member states, with the Baltic states of Lithuania, Estonia and Latvia, all three of which are in the eurozone and therefore have one vote each in the Eurogroup, appearing particularly annoyed.

However, several of Mr. Van Peteghem’s supporters turn the argument around, arguing that giving Belgium the presidency of the Eurogroup would be a good way to overcome the country’s resistance to using frozen Russian assets for Ukraine’s needs.

On the other hand, the assumption of the presidency of the Eurogroup by the Greek Minister of Finance, Mr. Peirakkakis, would send a clear message to all sides, as it would mean that the "therapy" imposed on Greece after the economic crisis worked, with the result that our country would find itself from a situation in which it was in danger of being outside the Eurozone, to the point of now exercising its presidency.

The comparison of Belgium and Greece, on issues of public debt and fiscal policy, which would have seemed unthinkable a few years ago, shows that Greece's prospects are more favorable. According to Eurostat data, Greece's debt-to-GDP ratio is decreasing due to strong growth and surpluses, while Belgium's remains high (around 107% of GDP) and may surpass Greece's by the end of the decade if deficits are not controlled.

The two arrested men - a nephew and a businessman - were transferred to the prosecutor's office in the Evelpidon courts shortly before 10 am for the murder of Kostas Tomaras and his caretaker that took place in early October in Finikounda.

In its major annual report, “2026 Outlook: Moving Past ‘Proof of Concept’,” Goldman Sachs outlines a European banking sector that is leaving behind the phase of proving its resilience and entering a period where growth and efficiency take center stage. In this environment, Greek banks stand out for their rating stability, clarity in target prices, and their strong positioning in the firm’s comparative charts.

On Monday, December 8, 2025, Capital Link hosted the “27th Annual Capital Link Invest in Greece Forum” as an in-person event at the Metropolitan Club in New York. The Forum aims to enhance the business and investment ties between the United States and Greece and raise the profile of Greece as a business and investment destination to a global audience.

The ‘Capital Link Invest in Greece Forum’, organized under the auspices of the Consulate General of Greece in New York, is an International Summit about Greece, held in New York. This prestigious event is organized in close cooperation with the New York Stock Exchange and the Athens Exchange Group, with Lead Sponsors including global financial powerhouses Goldman Sachs, Morgan Stanley, and TEN Ltd. It also enjoys the strong support of major global investment banks and financial institutions, further underscoring its significance.

The Forum is known for its quality and for featuring government and industry leaders. Throughout the event’s years-long history, Greek and U.S. government officials of successive administrations have consistently honored the Forum with their participation.

Investing in Greece – Opportunities & Incentives for International Investors
Greece’s economy continues on a steady trajectory of strong growth. The main driver of this growth being investment, boosted by the ongoing implementation of the Recovery Fund and the increasing inflow of foreign direct investment. The country’s perception has changed having gained investors’ trust and now being considered as model and ranked among the top performing OECD economies.

Τhe Forum will highlight the significant progress made so far and the potential ahead, as well as the resilience and positive prospects of the Greek economy. It will showcase Greece’s competitive advantages and focus on business and investment opportunities across the major sectors of the economy, as well as the challenges facing the European and global economies today. The timing for this Forum is optimal.

Top Delegation of Government & Business Leaders Addressing the Who-Is-Who of Wall Street & Main Street
Every year, a delegation of senior government officials, led by the Prime Minister, and a group of private sector business leaders update a global audience on the reforms, developments, and outlook of the Greek economy and each of the main sectors highlighting trends, challenges, and opportunities. Furthermore, a group of international investors and financiers share their insight on Greece as a Business and Investment Destination.

With a 27-year track record, this Forum enjoys unique branding, acceptance and support by the US, Greek and Greek American business, investment, and financial communities.

Prime Minister's Mitsotakis address:

Ladies and gentleman,

It is with great pleasure that I address you all at the 27thAnnual Capital Link Invest in Greece Forum. A gathering that over the years has become an important bridge between Greece and the US investment community.

As 2025 draws to a close, I would like to share with you some of my thoughts on the state of our economy and its prospects for the New Year. Greece continues its progress, transforming itself into an increasingly attractive investment destination. Our country offers high growth opportunities, as manifested by market outcomes for all Greek asset classes, offers sound fiscal fundamentals, a clear geopolitical orientation and of course, the very important factor of political stability.

There are excellent investment opportunities in multiple sectors, from traditional ones such as tourism, logistics, infrastructure and agrifood, to new ones such as energy, manufacturing, life sciences and of course technology. We attract rising volumes of FDI and financial investment, confirming Greece’s spectacular turnaround from crisis to recovery and increasing prosperity.

Our close ties with the United States are going from strength to strength. Last month we had the opportunity to sign in Athens far-reaching energy agreements, relating to the distribution of US LNG, starting from Greece and going north into numerous countries of the region, up to and including Ukraine, and offshore exploration drilling in the Ionian Sea, as a partnership between Greek and US energy companies. These agreements strengthen further the already strong ties between our two countries, and cement Greece’s position as a key energy gateway and economic hub for Southeast Europe and beyond.

Based on the sound economic fundamentals and political stability we have put in place over the course of our administration, I am confident that 2026 will be another successful year, for the Greek economy as a whole, for FDI and of course, for the Greece-US bilateral ties.

I invite each and every one of you to be part of Greece’s economic success story.