Mitsotakis Steps Up Reforms to Send Greek Crisis to History
- Greek prime minister puts debt reduction at heart of new term
- Mitsotakis targets big increase in living standards for Greeks
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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.
In a clear signal to investors, the 55-year-old premier pledged to make an early repayment of €5.3 billion ($5.8 billion) 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.