Greece's Minister of National Economy and Finance and President of the Eurogroup, Kyriakos Pierrakakis, said reforms and concrete results are the strongest answer to populism, speaking in Berlin after meetings with German Chancellor Friedrich Merz and Vice-Chancellor and Finance Minister Lars Klingbeil.
Pierrakakis said that just as Germany needs a strong Europe, Europe needs a strong Germany.
He made the comment when asked to respond to the rise of the far-right in Germany, including the recent gains made by the Alternative for Germany party, which wants Germany to leave the euro. Pierrakakis said that as Eurogroup president he could not comment on the internal political developments of any country, but that as a Greek finance minister and a Greek politician he could say that the strongest response to populists is reforms and results, and showing citizens that democracy works for every household. He said this was the challenge Europe faces, and that he was confident Germany would meet it too.
The Eurogroup brings together the finance ministers of the eurozone countries to coordinate economic policy among the states that use the euro, a role Pierrakakis currently chairs. Merz is the German chancellor, while Klingbeil serves as Germany's vice-chancellor and finance minister.
Talks with Merz and Klingbeil
Pierrakakis said he was wrapping up a series of meetings in Berlin, most notably with Merz and Klingbeil, where he discussed the Eurogroup's agenda and the challenges facing the European economy, focusing in particular on reform.
He listed five major changes he said were needed at a pan-European level: a Savings and Investments Union, a Capital Markets Union and Banking Union along with the reforms that come with them, changes needed in energy, changes needed in technology, and progress on the digital euro. He said all of these elements, taken together, would make a decisive contribution to Europe's growth.
The talks also covered fiscal balance at a time when international challenges are significant and numerous and are reflected in bond markets, Pierrakakis said, as well as the handling of issues linked to energy and the crisis in the Middle East. He said the discussions addressed how Europe would support its societies and economies and stand by every citizen, in every country and across Europe as a whole.
Greece as an example
Pierrakakis pointed to Greece as what he called a clear example of how combining fiscal credibility with reforms can deliver substantial results for the economy as a whole, and for every citizen, business and household. He said that spirit could serve as an inspiration for everything Europe needs to achieve in the coming years.
He said the overall goal for Europe is to turn its economic size into economic power, and that now is the time for both decisions and results.
Speaking separately to Greek broadcaster ERT in Berlin, Pierrakakis repeated that Europe must turn its economic size into economic power and that now is the time for decisions and results, again pointing to the five changes he said were needed across the continent.
