Feb 7 • 11:39 UTC 🇬🇷 Greece Naftemporiki

Patience until we all become rich

Kyriakos Mitsotakis discusses inflation and its impacts on the Greek economy during a recent party conference dialogue.

During a pre-conference dialogue for the 16th Regular Congress of New Democracy, Greek Prime Minister Kyriakos Mitsotakis addressed the issue of inflation, stating that increasing available income is the best antidote to persistent inflation. He pointed out that the rise in prices is not merely a Greek phenomenon but one that has European dimensions, largely driven by skyrocketing energy costs. The government's responses to concerns raised by the opposition typically involve tax reductions and controls aimed at boosting incomes, although critics argue these measures may not fully address the underlying inflation problem.

Mitsotakis previously emphasized that even if all workers' salaries in Greece were magically increased to five thousand euros or more, inflation would persist in new forms. This reflects deep-seated structural issues in the Greek economy, particularly its dependence on imports for most consumed goods. The Prime Minister acknowledged that increased demand due to higher salaries would likely lead to further price hikes, since Greece produces very little of what it consumes.

The conversation highlights ongoing challenges faced by the Greek government in managing the economy amid rising inflation. The debate surrounding effective measures to counter inflation is critical for public confidence and economic stability, and furthers the discussion on how Greece can achieve greater self-sufficiency in production, potentially alleviating some inflationary pressures while addressing the economic concerns of its citizens.

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