Minister of National Economy and Finance Kyriakos Pierrakakis spoke in Parliament about Greece’s proposal to join the SAFE mechanism, which will be submitted on Tuesday. He described this development as one that strengthens the country by enhancing defense planning and deterrent power. According to the Finance Minister, Greece’s participation in the program will upgrade defense planning from 28.8 billion to 30 billion euros, providing additional deterrent capacity for the country.
“Our country is not caught off guard. It knows when to prepare and when to lead. This agreement strengthens our country. Especially when some invest in revisionist rhetoric, our response is calm, decisive and nationally responsible,” the Minister of National Economy stated. “In an era of heightened geopolitical risks, the need for security is crucial, and Greece participates in this new security architecture. It does not do so as a follower but as a driving force,” Kyriakos Pierrakakis added.
Kyriakos Pierrakakis on tariffs and US-EU trade agreement
Referring to the new tariff framework agreement reached between the EU and US, Kyriakos Pierrakakis described it as a positive development, given that it ends months of uncertainty and ensures transatlantic unity. However, he emphasized that zero tariffs would be ideal and that the Greek government is carefully monitoring the consultations and will examine opportunities for products of interest to Greece.
“We are studying in depth the details of the agreement, about which the EU briefed the permanent representatives in Brussels this morning. This agreement ends months of uncertainty regarding the status of perhaps the most bilateral trade relationship in the global economy, ensures transatlantic unity, prevents a trade war with cascading negative effects on international trade and international distribution and production chains. The agreement also strengthens the energy security of the European economy in the foreseeable future,” Mr. Pierrakakis said, noting that “from this perspective, the development is positive.”
Greece as a matter of principle supports free trade based on stable rules, the Finance Minister said, noting that yesterday’s agreement provides for the application of tariffs of around 15% on European exports to the US, with some asterisks. Based on this principled position, the Greek government would prefer a lower tariff rate, ideally zero, for all transatlantic trade flows. “On the other hand, the tariff rate announced is lower than what was scheduled to be implemented on August 1st. The government is carefully monitoring the relevant consultations and to the extent that the agreement framework allows, opportunities will be examined that could contribute to better addressing issues concerning products of particular interest to our country,” Mr. Pierrakakis said, noting that the government will insist that if we want a truly strong competitive European economy, we must tear down the last invisible walls that prevent the free movement of goods and services within the EU, removing barriers mainly between European economies. “Of course, as a country, we must be able to systematically address more and more markets, such as India and Middle Eastern markets, for our exports.”
