Mitsotakis to Bloomberg: Early Repayment of Bailout Loans

The latest early repayment of bailout-era loans by Greece was announced on Wednesday by PM Kyriakos Mitsotakis himself, who told Bloomberg that eight billion euros will soon be reimbursed ahead of their maturity.

Speaking in a videotaped interview with the global financial news network, Mitsotakis pointed to an ongoing economic recovery in the country, as he said, that has witnessed a recovery from its nearly 10-year debt and economic crisis.

According to Bloomberg, the figure announced corresponds to three years of loan installments. If it materializes, it will be the third time that Mitsotakis’ government has approved the repayment of bailout loans before their expiration, as 5.3 billion euros of payments were accelerated last November. Another seven billion euros in loans were repaid in February 2022.

Asked about the latest political developments in Greece after Sunday’s European Parliament election, Mitsotakis said his ruling New Democracy (ND) party continues to be the dominant political force in the country, as its performance on Sunday (28.31% of the general tally) was higher than second and the third parties added together: second-placed SYRIZA picked up 14.92% and PASOK followed with 12.79%.

He also noted that voter turnout fell to a record low because of ” significant electoral fatigue, and, to some degree, discontent over issues such as the cost-of-living, which we need to address. We have been elected to implement an aggressive reform program in the remaining term, and we will be judged again for our performance in 2027.”