Kyriakos Pierrakakis discusses European reforms at Deutsche Bundesbank

Kyriakos Pierrakakis, the Greek Minister of National Economy and Finance and President of the Eurogroup, participated in the 4th Financial Markets Conference of the Deutsche Bundesbank in Frankfurt. During a discussion with Bundesbank President Joachim Nagel, Pierrakakis emphasized that Europe’s primary challenge is the implementation of long-discussed reforms rather than the diagnosis of economic issues.

Pierrakakis noted that while there are no ready-made policy recipes, the European Union must focus on the Capital Markets Union, the Banking Union, and the Energy Union to enhance productivity and competitiveness. He highlighted the need for technological policy and the mobilization of private capital for energy, technology, and defense sectors.

As part of his broader diplomatic agenda, Pierrakakis also visited Basel to meet with officials at the Bank for International Settlements (BIS), including General Manager Pablo Hernández de Cos, to discuss global financial imbalances and capital flows.