Greece’s Minister of National Economy Kyriakos Pierrakakis has been elected president of the Eurogroup, securing the post unanimously after Belgian Finance Minister Vincent Van Peteghem withdrew his candidacy, according to information released Thursday.

Pierrakakis had outlined his priorities for the European Union’s economic agenda six days earlier, during a meeting with EU member-state ambassadors, focusing on a Savings and Investment Union, digital transformation and demographic issues, as well as what he described on social media as Greece’s “experience of fiscal stability” as an example of how Europe “can become more competitive, resilient and integrated for the benefit of citizens.”

Prime Minister Kyriakos Mitsotakis hailed the election as “a day of pride for the country, for the government and all citizens,” calling it “a great honor” for Pierrakakis. He wished him “a long and productive tenure,” adding that he was certain the minister would distinguish himself through “his diligence and effectiveness.”

Mitsotakis said the development marked “the most emphatic recognition of the positive course of our homeland,” underscoring that Greece had moved from “the brink of the cliff, with closed banks and just before exiting the euro” to leading “the council of economic ministers of the most developed countries on the continent.” He credited the shift to “the sacrifices of our fellow citizens.”

He argued that Greece had shown that “fiscal consistency is a prerequisite for improving credibility” and that it can coexist with “bold reforms” and “dynamic growth,” which in turn creates jobs and “returns dividends to citizens.” He called the election “a significant milestone” that gives the country “self-confidence” and “arms the government with new momentum.”

Greek President Konstantinos Tasoulas also congratulated Pierrakakis, calling the result “recognition of the prestige of our country” and a reflection of a “multi-year national effort” to overcome the financial crisis.

Deputy Prime Minister Kostis Hatzidakis praised the outcome as “a great success” for Greece, arguing that the country is now seen in Brussels as “an example of success.”

EU Commissioner Valdis Dombrovskis and Latvia’s Finance Minister Arvils Aseradens issued separate messages of congratulations.

Pierrakakis assumes office on December 12 for a two-and-a-half-year term. The Eurogroup, created in 1997, coordinates economic policy among eurozone finance ministers and prepares monthly eurozone summit meetings.

Source: Ekathimerini.com