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Greek Prime Minister Discusses AI and Economic Recovery During US Visit
Key points
- Greek PM Mitsotakis visited San Francisco to promote Greece.
- He discussed AI challenges and Greece's economic improvements.
- Greece is set to regain developed market status next year.
- Investments include digital infrastructure and a new supercomputer.
Greece's Economic Pitch to Tech Leaders
Greek Prime Minister Kyriakos Mitsotakis traveled to San Francisco to engage with founders, investors, and operators. His visit served as a promotional effort for Greece, emphasizing its economic recovery and potential as a tech destination. Mitsotakis also used the trip as a fact-finding mission regarding artificial intelligence.
Economic Recovery and Market Status
Mitsotakis highlighted Greece's progress in paying down its debt and its ability to borrow more cheaply than the United States, with 10-year bond yields around 4.3% compared to roughly 5% for U.S. Treasuries. Greece is projected to regain developed market status from MSCI next year, signaling its improved economic stability.
Digital Infrastructure Investments
Greece has allocated approximately €36 billion from the EU's post-COVID recovery fund towards digital infrastructure. This includes an online portal for government services and a new supercomputer, assembled with Hewlett Packard Enterprise, which is expected to become operational within months to support AI and scientific research in Greece.
Policy Changes for Tech Companies
The Prime Minister also mentioned policy adjustments designed to attract tech companies, such as changes to how stock options are taxed. These measures are part of a broader effort to build bridges with the tech industry and encourage investment in Greece.
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Reporting from
Greek Prime Minister Kyriakos Mitsotakis visited San Francisco to promote Greece's economic recovery and discuss AI, meeting with tech leaders and investors. He highlighted Greece's improved economic standing, digital infrastructure investments, and policy changes aimed at attracting tech companies.