Mitsotakis steps up reforms to consign Greek crisis to history

Prime Minister Kyriakos Mitsotakis is stepping up the pace of reform at the start of his second term in office as he looks to capitalize on a commanding majority to consign Greece’s crisis years to history, Bloomberg news agency said.

In a clear signal to investors, the 55-year-old premier pledged to make an early repayment of 5.3 billion euros for the next two years of bilateral bailout loans from European countries as he set out plans to reclaim Greece’s investment-grade credit rating by the end of the year. Shedding its status as the euro-area’s only junk-rated issuer would mark a symbolic moment for Greece, 13 years after the early waves of the debt crisis saw it downgraded.

In an interview with Bloomberg Television’s Francine Lacqua, Mitsotakis set out a series of plans and objectives for the next four years that aim to consolidate the country’s position in the European Union after years of economic hardship. He pledged to bring incomes for Greeks significantly closer to their European peers and to accelerate the pace of debt reduction while boosting the use of renewable energy and increasing exports to 60% of gross domestic product from 50%.

“It’s a commitment to investors,” Mitsotakis said on Tuesday in Athens. “This is not just about management. It’s not just about, playing defense. It’s really about changing the country.”