Pierrakakis Unanimously Chosen to Lead the Eurogroup
Greece’s Minister of National Economy Kyriakos Pierrakakis was unanimously elected as the new president of the Eurogroup after Belgian Finance Minister Vincent Van Peteghem stepped aside and withdrew his candidacy. The decision, confirmed Thursday, places Pierrakakis at the helm of the council that guides economic policy for the eurozone.
Pierrakakis Priorities for the Eurozone
Days before the vote, Pierrakakis had presented his priorities to EU member state ambassadors. His agenda centered on strengthening a Savings and Investment Union, advancing digital transformation, addressing demographic pressures and highlighting Greece’s experience with fiscal stability as a model for how Europe can become more competitive, resilient and integrated. He emphasized on social media that these elements could benefit citizens across the European Union.
European Union finance ministers meeting environment.
National Leaders Praise the Election
Prime Minister Kyriakos Mitsotakis celebrated the result, calling it “a day of pride for the country, for the government and all citizens” and “a great honor” for Pierrakakis. He wished him “a long and productive tenure,” expressing confidence that the minister would meet the demands of the role with “diligence and effectiveness.”
Mitsotakis noted that the election represented “the most emphatic recognition of the positive course of our homeland,” pointing out that Greece had shifted from being “on the brink of the cliff, with closed banks and just before exiting the euro” to leading the economic council of some of Europe’s most advanced economies. He attributed this transformation to “the sacrifices of our fellow citizens.”
The prime minister added that the country had proven “fiscal consistency is a prerequisite for improving credibility” and that it can coexist with “bold reforms” and “dynamic growth,” which help create jobs and deliver “dividends to citizens.” He described the Eurogroup presidency as “a significant milestone” that strengthens national confidence and provides the government with “new momentum.”
Additional praise came from Greek President Konstantinos Tasoulas, who described the decision as “recognition of the prestige of our country” and a reflection of a “multi year national effort” to overcome financial hardship. Deputy Prime Minister Kostis Hatzidakis echoed the sentiment, calling the development “a great success” and arguing that Greece is increasingly seen in Brussels as “an example of success.”
EU Commissioner Valdis Dombrovskis and Latvia’s Finance Minister Arvils Aseradens also issued messages congratulating Pierrakakis on his appointment.
Greek government setting with EU symbolism.
Beginning of a New Term
Pierrakakis will officially assume the Eurogroup presidency on December 12 for a term of 2 and a half years. Established in 1997, the Eurogroup is responsible for coordinating economic policy among eurozone finance ministers and preparing discussions for monthly eurozone summit meetings.
