Finance Minister Kyriakos Pierrakakis says the government is implementing the most significant tax reductions since the restoration of democracy in 1974, confirming 800 million euros ($830 million) in fiscal relief for 2026.
Speaking to state broadcaster ERT, Mr. Pierrakakis, who also serves as Eurogroup President, said the measures are designed to immediately boost disposable income for public and private sector employees.
“A public or private employee experiences a tax cut as a direct increase in the money deposited in their bank account each month,” Mr. Pierrakakis said.
He emphasized that the government will maintain a strategy of gradual reductions, moving forward only when economic conditions are “mature and ready.”
The interview also addressed rising transatlantic tensions regarding U.S. pressure on Greenland. Mr. Pierrakakis stressed that while the dispute primarily concerns Denmark, it challenges core European principles of sovereignty and territorial integrity.
He called for a unified EU response and continued dialogue with Washington.
Turning to defense, the minister noted that geopolitical instability is driving European rearmament.
He pointed to new EU initiatives, such as the 150 billion euro SAFE instrument, as vital for the bloc's strategic autonomy.
“Joint procurement… delivers multiplier effects for the economy,” Mr. Pierrakakis said, arguing that coordinated defense spending will strengthen Europe's industrial capacity.