Christina Georgaki: Greece’s economic turnaround is a model for the rest of Europe

Christina Georgaki is an elected member of the political committee of New Democracy, the centre-right governing party of Greece.

Greece’s resurgence, from an economy hollowed out by Syriza’s calamitous policies to one that is outpacing the level of growth across other Eurozone countries, is a testament to the current government’s efforts – and this remarkable transformation serves as a lesson for the rest of Europe.

The countries that once imposed strict rules on Greece are now in the country’s economic shadow, and under New Democracy’s leadership, innovative approaches to the economy are only going to create further growth.

In October, the Greek Government launched a new strategy for supporting large-scale investments with a focus on production and economic transformation. In October, at the National Gallery, Prime Minister Kyriakos Mitsotakis and Minister Takis Theodorikakos laid out a series of financial programmes and regulatory reforms aimed at attracting investment, enhancing industrial infrastructure, and streamlining bureaucracy.

The measures laid out will continue to build the economy, attracting significant private investment. The initiatives are designed to target crucial parts of the economy, such as research and innovation, export support, and regional development, especially in border areas. The fact that the government has allocated such significant funding to these programmes shows the seriousness of their economic intent.

Theodorikakos outlined the goal of transforming the Greek government over the next ten years, emphasising the importance of manufacturing and investments, meanwhile he noted the significance of reducing emissions, creating a digital transition and innovation.

Despite Greece’s astonishing renewal, the sheer scale of havoc wreaked on the economy by Syriza’s dangerous dogmatists means that there still needs to be convergence with other more advanced EU economies in all sectors.

This is what these reforms and this production model are designed to do. Costing over 8.5 billion euros, these reforms will create jobs across Greece, particularly in less-developed regions, and support people with the cost of living following the multiple international crises caused by global tension and uncertainty.

In his speech, Theodorikakos did not dampen the government’s commitment to Greek citizens either. For example, the Development Ministry subsequently released a list of 123 consumer products for which there will be price reductions.

Greece’s turnaround has been rapid, but necessary. As new schemes are launched to further build the economy and develop all sectors, the Greek government are continuing to demonstrate how serious they are about growing the economy even further.

Article written by Christina Georgaki, originally published on conservativehome.com