The powergame and Economist conference on “Investing in Change: How Crete is transforming”. The focus is on the island’s great growth prospects and its role in the new geo-economic reality of the Eastern Mediterranean.

Earlier in the day, Prime Minister Kyriakos Mitsotakis held a discussion with the internationally renowned economist Mariana Mazucato.

.
Watch the debate with the Prime Minister

Key points of Mitsotakis’ speech at the PowerGame and Economist conference

.
“I am happy that we are organising the conference here in my hometown in this wonderful building,” he said at the start of his remarks, adding: “The past few years have been challenging in terms of post-crisis recovery. There was an emphasis on restoring the macro-economics to have primary surpluses to support policies that are of great importance to us.”

The Prime Minister said.

“Public investment played a very important role. The electrical interconnection between Crete and mainland Greece has been achieved. There is huge potential in terms of renewable sources. The second big project is the new airport, we are building a new airport and by 2028 the new motorway will be achieved. This is a major investment in infrastructure. Looking at our agenda I would say that public investment plays a very important role and all these projects are being built by big construction companies and that is working very well. We are not only talking about stabilising the country but also about the new phase of development. Public investment plays a role,” Mitsotakis added.

The minimum wage increase

.
The Prime Minister also referred to the increase in the minimum wage. “Greece for a decade was struggling under the supervision regime, there was no political consensus. This government has strong legitimacy, it has been elected twice. We have covered most of the commitments, we are trying in the second term to support incomes, the minimum reaches 950 euros, the intermediate exceeds 1,500 euros. Greeks are returning from abroad, there are good jobs.”

Greeks are returning from abroad, there are good jobs.

We are preparing for a third term

.

“The affordability crisis is real, we have to acknowledge it and focus on it, but the solution is not to make promises we cannot keep. Whatever we do has to be done within our fiscal means.”
But there are many who are struggling. Europe’s big issue is growth, we are preparing for a third term with public and private investment. With a state that will play a role with conditions for investment to prosper.”

Creating an environment for growth

.
“To create an environment for growth. Fragile ecosystems are among the most difficult investments as is water management. 85% of the water lost is due to irrigation,” the Prime Minister added during the discussion.

“We need to balance the green transition at the energy level. Let us see how the transition will work. If all these do not work together we will reach a de-industrialised environment. Our issue is how to promote innovation at European level. Europe is overregulated. The source of the disadvantages is the lack of competitiveness,” he added.

We are not going anywhere with these energy prices. We need to invest more in networks. Greece is a net exporter of energy.
“My goal is to leave a legacy where the debt is sustainable,” the Prime Minister said.

The spike for Tsipras: “Now we are experimenting with populism and rebranding”

.
During the debate, Mitsotakis also took a swipe at Alexis Tsipras, saying “we have experimented with populism in the past. Now we are experimenting with populism and rebranding.”

Artificial intelligence in the public sector

“All states are struggling because technology is changing very quickly. The question is how to help civil servants, AI is an important tool. We need to develop a new defence ecosystem and the development has a spillover effect on the rest of the economy. But we need to protect our children from social media. We have a battle to fight. The speed of change is so high that governments will try to catch up.”