Greece"s PM vows to control spending for recovery

In a keynote speech at the Thessaloniki International Fair, Greece's prime minister, Kyriakos Mitsotakis, emphasized the importance of controlling spending to ensure the country's recovery from a prolonged financial crisis. He highlighted the European Union's new fiscal rules aimed at limiting spending growth, which could impose fines on violators. Mitsotakis announced several economic measures, including pension and minimum wage increases, and initiatives to boost exports and address housing shortages. He also mentioned plans for low-rate mortgages for young families, partially funded by the EU. Mitsotakis addressed concerns regarding tourism growth, particularly short-term rentals, promising a moratorium on new rentals in central Athens for at least a year. He also proposed higher disembarkation fees for cruise passengers, especially in popular tourist destinations like Santorini and Mykonos, where fees could increase significantly. Despite facing challenges, including a decline in his party's vote share in recent European elections, Mitsotakis asserted that his government remains a stabilizing force in Greek politics. The opposition parties, Syriza and PASOK, are currently grappling with internal divisions, which have weakened their positions. The political landscape is further complicated by the low turnout at recent protest marches, indicating a lack of public engagement with the opposition. Mitsotakis's government has over a thousand days until the next national election, providing ample time to implement its economic program and maintain its political standing. Overall, Mitsotakis's speech reflects a commitment to fiscal responsibility while addressing key social issues, aiming to foster economic growth and stability in Greece's post-crisis recovery phase.