1 00:00:00,080 --> 00:00:02,440 Speaker 1: Let's get back to Davos now, where Francy Lackwi is 2 00:00:02,440 --> 00:00:05,040 Speaker 1: standing by with the Prime Minister of Grace Brand. 3 00:00:06,040 --> 00:00:07,520 Speaker 2: Yeah, thank you so much. I am delighted to be 4 00:00:07,600 --> 00:00:10,280 Speaker 2: joined by Kyriako Smithstakis. As you say, Tom, the Prime 5 00:00:10,280 --> 00:00:12,880 Speaker 2: Minister of Greece, Thank you, Prime Minister for giving us 6 00:00:12,880 --> 00:00:14,880 Speaker 2: a little bit of your busy schedule. When you look 7 00:00:14,920 --> 00:00:18,960 Speaker 2: at Greek performance in terms of GDP, it's actually better 8 00:00:19,000 --> 00:00:21,400 Speaker 2: than most. Are you worried that this year is still 9 00:00:21,400 --> 00:00:23,280 Speaker 2: going to be difficult given all of the unknowns. 10 00:00:23,600 --> 00:00:25,080 Speaker 1: I think this is going to be a very good 11 00:00:25,160 --> 00:00:27,880 Speaker 1: year for the Greek economy. We have built what I 12 00:00:27,960 --> 00:00:31,320 Speaker 1: considered be a sustainable momentum. Lookre economy is growing much 13 00:00:31,360 --> 00:00:34,239 Speaker 1: faster than the Eurozone average, and there are good reasons 14 00:00:34,680 --> 00:00:38,800 Speaker 1: for that. We're bringing in significant amount of foreign direct investment. 15 00:00:39,120 --> 00:00:41,760 Speaker 1: Our dead to GDP is declining at a record pace. 16 00:00:42,040 --> 00:00:44,920 Speaker 1: If you look at the Greek spreads, the Greek bonds 17 00:00:44,920 --> 00:00:47,080 Speaker 1: are trading close to the Spanish bonds. Who would have 18 00:00:47,120 --> 00:00:49,760 Speaker 1: thought that this would have been possible during the years 19 00:00:49,920 --> 00:00:52,080 Speaker 1: of the fiscal crisis. So I think we're at the 20 00:00:52,120 --> 00:00:55,120 Speaker 1: beginning of a long term growth cycle for the greekconomy, 21 00:00:55,120 --> 00:00:58,120 Speaker 1: of course, or geopolitical issues and concerns. I mean, the 22 00:00:58,160 --> 00:01:01,400 Speaker 1: cost of living is still a big concern for us, 23 00:01:01,520 --> 00:01:03,279 Speaker 1: but I remain very optimistic. 24 00:01:03,440 --> 00:01:05,720 Speaker 2: So primiaryip what exactly is the next step for the economy, 25 00:01:05,800 --> 00:01:08,440 Speaker 2: like what will make you get a further I guess 26 00:01:08,520 --> 00:01:09,839 Speaker 2: you know better rating. 27 00:01:10,240 --> 00:01:13,080 Speaker 1: I think what we need to do is to balance 28 00:01:13,120 --> 00:01:16,640 Speaker 1: or physical prudence, to continue to produce healthy primary surplaces 29 00:01:16,680 --> 00:01:19,840 Speaker 1: and bring down our debt to GDP ratio with sustainable growth. 30 00:01:20,040 --> 00:01:22,720 Speaker 1: We've proven that this is actually something that is doable. 31 00:01:23,319 --> 00:01:26,560 Speaker 1: We've reduced taxes during our first term, we have improved 32 00:01:26,560 --> 00:01:29,560 Speaker 1: the business environment. I think we've changed the image of 33 00:01:29,600 --> 00:01:32,800 Speaker 1: the country abroad because many people still thought of Greece 34 00:01:32,840 --> 00:01:35,440 Speaker 1: as a basket case, which is no longer a basket case. 35 00:01:35,440 --> 00:01:38,560 Speaker 1: It's a very successful economy and this is attracting a 36 00:01:38,560 --> 00:01:40,200 Speaker 1: lot of interest. I had a chance to witness it 37 00:01:40,240 --> 00:01:44,120 Speaker 1: again during my thirty six hours in doubles. 38 00:01:44,240 --> 00:01:47,000 Speaker 2: There's also a lot of interest. You know, the process 39 00:01:47,080 --> 00:01:51,080 Speaker 2: for the IPO of Athens International Airport has started. When 40 00:01:51,080 --> 00:01:52,720 Speaker 2: are you expecting the sale of thirty percent? 41 00:01:52,840 --> 00:01:55,920 Speaker 1: Well, this should happen during the first months of twenty 42 00:01:55,960 --> 00:01:57,880 Speaker 1: twenty four. But it's not just see Athens Airport. As 43 00:01:57,880 --> 00:02:01,280 Speaker 1: you know, we have very successfully sold off stakes in 44 00:02:01,960 --> 00:02:05,040 Speaker 1: our banks. The MBG transaction which took place last year 45 00:02:05,240 --> 00:02:08,400 Speaker 1: was oversubscribed eight times. There is going to be a 46 00:02:08,440 --> 00:02:11,480 Speaker 1: significant chunk of Perios Bank that will be sold off. 47 00:02:11,480 --> 00:02:13,560 Speaker 1: And what I do expect from city is also new 48 00:02:13,639 --> 00:02:16,359 Speaker 1: IPOs on the Greek stock exchange, I mean Greek companies. 49 00:02:16,840 --> 00:02:18,959 Speaker 1: They need to raise capital and for the first time 50 00:02:19,000 --> 00:02:23,400 Speaker 1: the Greek stock market is an attractive alternative for. 51 00:02:23,360 --> 00:02:25,760 Speaker 2: The Athens airport. What will determine the exact timing, Is 52 00:02:25,800 --> 00:02:27,240 Speaker 2: it market conditions or something else? 53 00:02:27,320 --> 00:02:30,639 Speaker 1: Well, yes, but the decision has been taken. It will 54 00:02:30,639 --> 00:02:33,480 Speaker 1: happen during the first months of twenty twenty four. And 55 00:02:33,520 --> 00:02:39,000 Speaker 1: again it's a very successful airport and it's benefiting from 56 00:02:39,360 --> 00:02:43,960 Speaker 1: the increase in tourism. Athens has become a year around destination, 57 00:02:44,160 --> 00:02:49,040 Speaker 1: a fantastic city. There's tremendous investment taking place in infrastructure 58 00:02:49,040 --> 00:02:52,480 Speaker 1: in Athens. We are targeting the high end market and 59 00:02:52,480 --> 00:02:55,520 Speaker 1: of course everything that is being built in Greece today 60 00:02:55,560 --> 00:02:58,560 Speaker 1: has to be sustainable. We're very much focused on green 61 00:02:58,760 --> 00:03:01,720 Speaker 1: and sustainable tour So the Athens Airport will be a 62 00:03:01,800 --> 00:03:04,200 Speaker 1: very good proxy for those interested in investing in the 63 00:03:04,240 --> 00:03:04,840 Speaker 1: turn sector. 64 00:03:05,400 --> 00:03:07,040 Speaker 2: Talk to me a little bit about the banks. So 65 00:03:07,080 --> 00:03:09,160 Speaker 2: this is also divesting stakes in some of the banks. 66 00:03:09,960 --> 00:03:11,960 Speaker 2: How's that going and when can we expect for their news? 67 00:03:12,040 --> 00:03:16,680 Speaker 1: Well, you'd expect the news on Piros soon. Again, we 68 00:03:16,720 --> 00:03:20,320 Speaker 1: should take stock of the progress that was made last year. 69 00:03:20,440 --> 00:03:25,880 Speaker 1: In year Bank was fully privatized. Again, the NBG transaction 70 00:03:25,960 --> 00:03:30,320 Speaker 1: tremendously successful. A big Italian bank investing in Alpha Bank. Again, 71 00:03:30,360 --> 00:03:33,239 Speaker 1: this is a vote of confidence in the banking sector 72 00:03:33,280 --> 00:03:35,560 Speaker 1: and in the Greek economy. Just remember Francine, when we 73 00:03:35,560 --> 00:03:38,560 Speaker 1: had these discussions years four years ago, many people had 74 00:03:38,600 --> 00:03:41,960 Speaker 1: concerns about the banking sector the NPEs. We brought them 75 00:03:42,000 --> 00:03:45,640 Speaker 1: down significantly. Now everyone seems to be very bullish about 76 00:03:45,680 --> 00:03:48,960 Speaker 1: Greek banks and factly, we need more competition in the 77 00:03:48,960 --> 00:03:52,840 Speaker 1: Greek banking sector. We need banks to extend more credit 78 00:03:52,880 --> 00:03:54,400 Speaker 1: to the real economy. 79 00:03:54,440 --> 00:03:56,120 Speaker 2: And premiers, have you already made up your mind if 80 00:03:56,120 --> 00:03:58,600 Speaker 2: it's the full twenty seven percent of prairios that will 81 00:03:58,600 --> 00:04:00,560 Speaker 2: be on the market or just part we. 82 00:04:00,680 --> 00:04:03,600 Speaker 1: Have not It's not just a decision that is made 83 00:04:04,400 --> 00:04:07,600 Speaker 1: solely by us. But I don't have any further details 84 00:04:07,600 --> 00:04:10,080 Speaker 1: of this, but it will be a significant chunk. Premier. 85 00:04:10,240 --> 00:04:12,320 Speaker 2: I mean, you will also bring to parliament draft law 86 00:04:12,400 --> 00:04:15,240 Speaker 2: for same sex marriage that you pledged after being re elected. 87 00:04:15,480 --> 00:04:17,120 Speaker 2: Are you confident that it will pass through? 88 00:04:17,560 --> 00:04:21,240 Speaker 1: Yes. If you remember, we discussed this during my first 89 00:04:22,080 --> 00:04:24,480 Speaker 1: interview I gave to you in July. It was part 90 00:04:24,520 --> 00:04:28,080 Speaker 1: of our program. Marriage e quality will be tabled at 91 00:04:28,120 --> 00:04:31,920 Speaker 1: the next Cabinet meeting, which will actually take place next week, 92 00:04:31,960 --> 00:04:34,320 Speaker 1: and will be approved and then, after a period of 93 00:04:34,320 --> 00:04:39,160 Speaker 1: public consultation, will be presented to Parliament. And I'm very 94 00:04:39,160 --> 00:04:43,359 Speaker 1: optimistic that it will become a Greek lab you know, 95 00:04:43,400 --> 00:04:46,320 Speaker 1: within the first two weeks of the month of February. 96 00:04:46,320 --> 00:04:48,200 Speaker 2: So you're expecting little resistance or. 97 00:04:48,440 --> 00:04:52,080 Speaker 1: I mean, what I said very very openly is that 98 00:04:52,120 --> 00:04:55,360 Speaker 1: you know these are these are important issues for for 99 00:04:55,520 --> 00:04:58,400 Speaker 1: many people, and that's why I have not imposed any 100 00:04:58,440 --> 00:05:01,680 Speaker 1: party discipline. What I I've always been making the case 101 00:05:01,720 --> 00:05:04,200 Speaker 1: that this is not an issue that should divide Greek society, 102 00:05:04,200 --> 00:05:07,640 Speaker 1: and so far we've had a very healthy debate in Greece. 103 00:05:07,680 --> 00:05:11,039 Speaker 1: I think we've explained the case for marriage equality but 104 00:05:11,080 --> 00:05:13,800 Speaker 1: also for protecting the rights of those kids that already exist. 105 00:05:13,960 --> 00:05:20,960 Speaker 1: It's you know, it's a it's a fact. And at 106 00:05:20,960 --> 00:05:23,240 Speaker 1: the end of the day, I believe that this is 107 00:05:23,279 --> 00:05:26,680 Speaker 1: something which will be you know, legislated by Greek Parliament. 108 00:05:26,760 --> 00:05:29,719 Speaker 2: So what comes after that? Is there a strategic plan 109 00:05:29,839 --> 00:05:33,320 Speaker 2: for for also more progressive loans? 110 00:05:33,360 --> 00:05:37,640 Speaker 1: Okay? I think we have made addressing inequality a key 111 00:05:38,800 --> 00:05:41,560 Speaker 1: sort of driver of our of our policies. But again, 112 00:05:41,600 --> 00:05:44,880 Speaker 1: in order to do that, you need an economy that 113 00:05:44,920 --> 00:05:48,799 Speaker 1: is growing, so you need a healthy physcal surplus. Uh 114 00:05:48,839 --> 00:05:53,880 Speaker 1: and we have been able to create physical space to 115 00:05:53,920 --> 00:05:56,360 Speaker 1: support the more vulnerable Greeks. I mean, now again there 116 00:05:56,440 --> 00:06:00,479 Speaker 1: is a real cost of living crisis in gret We 117 00:06:00,520 --> 00:06:05,080 Speaker 1: want to support especially young families, families with kids, who 118 00:06:05,080 --> 00:06:09,200 Speaker 1: are particularly concerned about the declining Greek population. So this 119 00:06:09,360 --> 00:06:11,279 Speaker 1: is an area of priority for us. How do we 120 00:06:11,279 --> 00:06:14,920 Speaker 1: support families, How do we support people who are actually 121 00:06:15,120 --> 00:06:18,200 Speaker 1: forced to rent now that rents are going up? This 122 00:06:18,360 --> 00:06:20,920 Speaker 1: is a key, key priority for my government that you'd 123 00:06:20,920 --> 00:06:23,960 Speaker 1: expect many measures in this direction to come to be 124 00:06:23,960 --> 00:06:25,440 Speaker 1: announced version premise. 125 00:06:25,560 --> 00:06:27,279 Speaker 2: How much do you worry, of course about all the 126 00:06:27,279 --> 00:06:30,200 Speaker 2: conflicts around the world and the impact and the uncertainty 127 00:06:30,400 --> 00:06:31,760 Speaker 2: this has worldwide. 128 00:06:32,320 --> 00:06:35,839 Speaker 1: Look, I think this Doubles was rather optimistic about the 129 00:06:35,880 --> 00:06:39,400 Speaker 1: shape of the global economy, but concerned about the geopolitics. 130 00:06:39,440 --> 00:06:42,080 Speaker 1: And of course we are in the Eastern Mediterranean. We're 131 00:06:42,080 --> 00:06:46,359 Speaker 1: a pillar of stability in a rather turbulent region. The 132 00:06:46,440 --> 00:06:50,280 Speaker 1: Ukraine War is still still raging, so of course there 133 00:06:50,320 --> 00:06:54,520 Speaker 1: is you know, significant concern about the geopolitics and we're 134 00:06:54,560 --> 00:06:57,920 Speaker 1: doing our best to help in order for the conflict 135 00:06:58,080 --> 00:07:01,440 Speaker 1: not to escalate in the Middle East. Will be making 136 00:07:01,440 --> 00:07:05,200 Speaker 1: the case why Ukraine needs a strong financial assistance by 137 00:07:05,200 --> 00:07:07,240 Speaker 1: the European Union, and I expect us at the next 138 00:07:07,240 --> 00:07:11,840 Speaker 1: European Council to approve the fifty billion assistance to Ukraine 139 00:07:12,000 --> 00:07:15,760 Speaker 1: that we have pledged in accordance but also complemented by 140 00:07:15,760 --> 00:07:18,080 Speaker 1: a revision in our own budget because we need more 141 00:07:18,120 --> 00:07:21,560 Speaker 1: money for migration and we need more money to address 142 00:07:21,560 --> 00:07:23,600 Speaker 1: a climate change in natural catastrophes. 143 00:07:23,760 --> 00:07:25,440 Speaker 2: Prime Minister, thank you so much for your time today. 144 00:07:25,440 --> 00:07:27,520 Speaker 2: That was of course Securiya kosmits Attack is the Prime 145 00:07:27,520 --> 00:07:28,559 Speaker 2: Minister of Greece.