Pierakakis: Greek Banks as a Safeguard Against Middle East Economic Risks

Greek Minister of Economy, Kyriakos Pierakakis, emphasized the dual potential of the Greek economy during his speech at the Annual General Meeting of the Hellenic Bank Association. He stated that Greece’s economy could simultaneously strengthen small and medium-sized enterprises while fostering national champions. This vision extends beyond economics, encompassing ethical and national dimensions. It aims to reverse brain drain into brain gain and enhance social cohesion across regions. Pierakakis highlighted the importance of banks regaining their pre-crisis role in financing state and private investments, both domestically and internationally. He noted that despite progress, societal concerns persist regarding banking presence. Addressing tensions in the Middle East, he warned of potential risks to global economic stability and urged diplomatic caution. However, he reassured that Greek banks’ resilience, combined with favorable domestic economic conditions, can serve as safeguards against adverse scenarios stemming from external factors. The minister concluded by urging proactive strategies, emphasizing opportunity amid challenges.