Mitsotakis Aims to Repay Greece's Bailout Loans Ahead of Schedule

Greek Prime Minister Kyriakos Mitsotakis, recently re-elected for a second term, announced on Tuesday his government's ambitious plan to repay certain bailout loans ahead of schedule.

In an exclusive interview with Bloomberg TV, Mitsotakis highlighted his centre-right and pro-reform government's determination to achieve this financial milestone.

Mitsotakis and his conservative New Democracy (ND) party secured a landslide victory in consecutive elections, capturing nearly 41 per cent of the general vote. The need for a second election arose due to the initial poll, conducted on May 21, which followed an electoral law favouring a simple representational system.

When questioned about his government's targets and messages to the markets, Mitsotakis emphasized the tangible goal of attaining an investment-grade credit rating before the year's end. This objective directly addresses the upcoming assessments by international credit rating agencies that evaluate Greece's creditworthiness. Presently, all major rating agencies, with the exception of Moody's, have assigned Greece a rating just below investment grade.

The notion that Greece, a country once on the brink of a potential "Grexit" from the Eurozone, is now in a position to repay bailout loans ahead of schedule would have seemed inconceivable a few years ago. However, under the leadership of Mitsotakis and his government, Greece aims to defy expectations and showcase its improved financial stability and credibility on the international stage.