The European Commission has formally removed Greece from its macroeconomic imbalances monitoring framework, closing the final bureaucratic chapter of the country's 16-year debt crisis, National Economy Minister Kyriakos Pierrakakis has announced.
Speaking at the opening of a New Democracy regional office in Patras, Mr. Pierrakakis, who also serves as Eurogroup President, said European authorities now formally regard Greece as an economic success story rather than a fiscal liability — a designation he said gives the government greater room to invest in infrastructure and reduce household tax burdens.
Mr. Pierrakakis pointed to the early repayment of 6.9 billion euros in crisis-era bailout loans as evidence of the country's new fiscal footing, a move expected to save Greek taxpayers approximately 180 million euros annually in interest payments.
He said every euro saved on debt servicing would be redirected toward tax relief, family support, healthcare and education.
The minister cited several economic indicators to support the turnaround narrative: 600,000 new jobs created, unemployment near historic lows, and a growth rate currently running at roughly double the EU average.
During the visit, Mr. Pierrakakis also met business leaders at the Achaea Chamber of Commerce and toured infrastructure projects at the Port of Patras, reviewing plans to build an innovation hub linking regional research, technology and maritime shipping activity — part of a broader push to demonstrate economic momentum in the regions ahead of the 2027 general election.