Greek PM on exiting enhanced surveillance: “A historic day, opening a new era of growth and prosperity for Greece”

“The 20th of August 2022 is a historic day for Greece and all Greeks: in the most official way, our country exits the Enhanced European Surveillance regime. Therefore, a 12-year cycle that has brought pain to citizens stagnation to the economy and division in society, now, closes. Today, a new, clear horizon of growth, unity and prosperity for all  emerges,” said the Greek Prime Minister, Mr Kyriakos Mitsotakis in his message, on the occasion of the country’s exit from the Enhanced European Surveillance regime, today, August 20.

The end of memoranda

The Prime Minister said that “today’s development marks the end of the Memoranda and all that was imposed in their name: burdensome taxes and cuts in wages and pensions, bank controls and mortgaging of public assets, downgrading of national defence, public education and health care. But also the marginalization of Greece’s position in Europe and the world. All of these, fortunately,  mpw belong to the past.”

He then adds: “The wounds that there 12 years opened in the backbone of our society also belong to the past: fanaticism, fires, violence, as well as tragic deaths, such as those at Marfin Bank. The blind undermining of institutions. Lies and the rise of the far-right party, Chrysi Avgi. Four years of demagogy that cost 100 billion euros came up next and pushed the country to the edge of the precipice. It took tough battles against populism for the country to remain on a European trajectory. .”

“Only those who do not forget find the strength to move forward. That is why we must learn from this recent experience. From the long-standing and  cross-party responsibilities that led to the Memoranda with extravagances beyond our capabilities. From the policies that exacerbated their consequences, but also from mishandlings that prevented a swifter exit from our international partners’ surveillance.”, he stresses.

A “new Greece”

Mr Kyriakos Mitsotakis in his message stresses that “Greece today is a new Greece”: it sees high growth and a big drop in unemployment, which has already decreased by 3 points since last year and by 5 points since 2019. At the same time, its citizens have now been exempted or relieved from many taxes imposed during those rocky years. Everyone pays lower contributions and almost everyone pays lower property tax ENFIA. The minimum wage has also been increased by 63 euros and the most vulnerable ones are supported in a targeted way.

And he goes on by saying: “I will repeat that the recovery of Greece was neither obvious nor easy. It was achieved in the midst of successive challenges: from migration incursions in Evros and the constant aggressiveness of our neighbours to the global pandemic and the surge in energy prices and inflation due to the war in Ukraine. Persistent fronts, for which Greece has already spent 50 billion”.

In an uncertain world

And yet, in an uncertain world, our country is moving forward with consistency and the certaiinty of the outcome. Reinforcing our Armed Forces with state-of-the-art equipment and our diplomacy with dynamic initiatives. Taking public education and health to new heights. Increasing total revenues thanks to a better-than-expected performance by the economy. Transforming Greece into an immense work site with hundreds of large and small-scale projects. And digitizing the state to such an extent that we have forgotten how our lives were before gov.gr.

National convenience

Exiting the enhanced surveillance regime means greater national leeway in our financial choices. However, it does not mean a return to the mistakes that brought about the painful Memoranda adventure. After all, what I have just mentioned is precisely due to a prudent policy that uses up the fiscal space without undermining the future. With prudent measures that increase collective wealth for the benefit of the society as a whole.

We move forward without forgetting. Because we now know that lower taxes lead to growth and investments leads to new jobs. We know that Europe is not only about control, but also about solidarity, which strengthens the position of the country. And that, in the end, economic independence goes hand in hand with national independence, just as the progress of the state can be translated into supporting and benefiting for every Greek household.

Thus, the last three years provide a practical response to the lessons of the last 12 years. They show the way to never, ever go back to what we have lived through. They forge our self-awareness. And they urge us to move ahead united, armed with the truth and realistic solutions, and not with lies and easy denials. On a course that may entail mistakes but is definitely not a wrong path!

Difficult years

In the difficult years that preceded, our people suffered a lot. However, they also proved many things. Thanks to their sacrifices, the country quickly got back on its feet. The sufferings became lessons of mature responsibility in our political behavior. And when needed, Greeks showed trust and joined forces with the state and the responsible stakeholders, against common threats. I want to thank them from the bottom of my heart.

Tomorrow can and must be fairer, with more opportunities for everyone. So that we never again experience the brain drain of our youth. So that women can live and work with safety and equalit. So that people with disabilities and every vulnerable person can feel cared for by the state. In a country of established rights and well-paying jobs. A country with an open education and a dignified health system. We can make it happen.

Today the government, even before it completes its first 4-year term, is writing the final credits to this long ordeal. Let’s turn them into a prologue to a new fascinating course. With the first stop being to regain the investment grade. With the National Recovery Plan as a steady compass that will build a strong, modern and self-reliant Greece. With stability, continuity and consistency.