When Kyriakos Pierrakakis meets his ministerial counterpart Simon Harris in Government Buildings on Monday, it will be the Greek finance minister’s first foreign engagement since officially throwing his hat into the ring for the Eurogroup presidency.
The ambitious and pragmatic 42-year-old Greek faces Belgium’s Vincent Van Peteghem in the race for the chair of euro zone finance ministers, who will vote on the matter on December 11th.
Tradition dictates the Eurogroup role is usually held by a small or mid-sized member state.
While technological investments and innovation ecosystems, tax reforms, the savings and investments union, and digital euro and payments modernisation will be on the agenda with Harris, Pierrakakis will undoubtedly canvass the Tánaiste’s support for his election to succeed in a role that Paschal Donohoe filled for five years until his recent departure for a post at the World Bank.
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Indeed, the Tánaiste may have already expressed a preference between the two candidates – both were tipped as possible early contenders – when Pierrakakis became the first EU finance minister he called after becoming Minister for Finance.
In a written reply to questions from The Irish Times, Pierrakakis, whose ministerial track record includes four years at the helm of the digital governance ministry where he transformed how citizens interact with the state, expressed the view that Ireland and Greece have much to learn from one another.
“Ireland offers a compelling example of what an innovation-driven, globally-open economy can achieve when it combines strategic clarity with a strong commitment to skills and research. Its ability to attract talent, ideas, and investment – and to translate this into sustainable growth – is a source of genuine inspiration,” he said.
“This is a perspective that resonates deeply with Greece as we strengthen our transformation into an economy powered by technology, talent, and long-term stability.”
Conversely, Greece’s recent trajectory may also serve as a point of conversation.
“Our experience shows how stability, when paired with a reform mindset, can become a foundation for renewal. We have combined fiscal credibility with a broad digital transformation, rebuilt trust in institutions and created conditions that increasingly attract investment and entrepreneurship,” Pierrakakis said.
He believes that the fact a Greek is in the running to take over the top job in the Eurogroup only a decade after Greece was teetering on the brink of leaving the euro after defaulting on an IMF loan, a bank run and prolonged bank closures and capital controls is part of “the story of fiscal reform and of resilience – macroeconomic and social – that has taken the country from Europe’s risk case to a contributor to the continent’s credibility, stability and foresight”.
His foremost priority as Eurogroup chair would be to ensure that the body “becomes an even more effective anchor of stability and strategic direction for the euro area.
“This starts with addressing a long-standing paradox: Europe saves heavily, yet invests too little in its own future. Closing this gap is essential. I would work to advance a genuine savings and investment union, deepening financial integration and improving the flow of capital across borders,” he said.
He also believes the Eurogroup should engage more directly with issues such as digital finance, payments architecture and the evolution of the digital euro.
