Greek Prime Minister Kyriakos Mitsotakis said his government will repay 13 billion euros of public debt ahead of schedule in 2026 to relieve future generations.
In his first weekly online address since a brief August recess, Mitsotakis also rejected Turkish territorial claims and previewed economic policies ahead of the Thessaloniki International Fair. The annual trade exhibition in northern Greece is traditionally where prime ministers announce the government agenda for the coming year.
The planned 13 billion euro payment adds to 36 billion euros already repaid early since 2019. Mitsotakis said the reduction is the fastest in the 27 member states of the European Union. He said reducing the debt frees the state from its financial burdens, allowing it to support citizens and secure better borrowing terms for businesses.
The Japanese credit rating agency R&I has upgraded the outlook for the Greek economy from stable to positive. Mitsotakis said the agency expects strong growth in 2026 despite global inflation and tensions in the Middle East, attributing this to Greek fiscal policy and structural reforms. He said he will outline further economic plans at the trade fair in two weeks.
Dispute with Turkey
The prime minister addressed recent objections from Ankara regarding the Greek special spatial framework for renewable energy sources. He said Turkey had revived baseless claims about grey zones in the Aegean Sea.
Greece operates according to international law and will not allow illegal claims or threats to dictate its decisions, Mitsotakis said. He said Athens consistently seeks dialogue and good neighborly relations with Turkey, but that dialogue does not mean retreating.
August forest fires
Mitsotakis addressed the forest fires that burned across Greece in August. He said firefighters and volunteers had faced more than 500 fires since the start of the month, and 2,700 since the fire season began.
High winds lasted for 20 days, according to the National Observatory, which grounded firefighting aircraft in areas like Boeotia and West Attica.
Authorities evacuated at least 1,000 people by sea from active fire fronts. Mitsotakis said the loss of human life overshadowed all other efforts and expressed condolences to the families of those who died. Inspections in affected areas are continuing to ensure compensation and allowances reach residents as soon as possible.
He noted that burned areas in Greece were fewer this summer compared to previous years and to other Mediterranean countries.
Cyprus energy link
A new agreement will see the French investment group Meridiam take a majority stake in the Great Sea Interconnector, a project to link the electricity grids of Greece and Cyprus. The French company Nexans will construct and lay the underwater cable.
Mitsotakis called the deal a strong vote of confidence in Greek energy infrastructure. He said the project will end the energy isolation of Cyprus and establish Greece as a regional energy hub while paving the way for more clean energy.
Spatial planning rules
Two new spatial frameworks for tourism and renewable energy have taken effect, following a consultation period mentioned on May 24. A third framework for industry is expected to conclude in a few days.
Mitsotakis said the rules set strict limits on development in sensitive environments, including small islands, archaeological sites, forests and the Natura conservation network. The tourism framework aims to protect areas already under heavy pressure from visitors while identifying regions with room for growth.
Crete water projects
Work is starting on two independent irrigation networks in Lasithi on the island of Crete, at the Chochlakies Reservoir and the Agios Ioannis Ierapetra Dam. The first section in the Sitia municipality is expected to operate within 18 months, with the entire project taking 42 months.
Mitsotakis said the Mediterranean is on the front line of the climate crisis and the era of wasting water has passed.
A new digital platform at myagro.aade.gr has also launched for processing 2026 agricultural subsidies. Farmers who apply by September 15 will receive an advance by October 31, while others have until November 30. Mitsotakis said agronomists, veterinarians, foresters, accountants and accounting offices can now submit applications on behalf of producers.
Unpaid energy bills
The Ministry of Environment and Energy will introduce rules to stop consumers leaving unpaid bills when switching electricity providers. Mitsotakis described the practice as energy tourism.
Suppliers will notify the Hellenic Electricity Distribution Network Operator of overdue debts. Customers with three such notices will be blocked from changing providers until they pay or arrange a settlement. Mitsotakis said the regulation stops strategic defaulters but will not penalize those facing genuine financial hardship.
School finance classes
The Ministry of Education will introduce a program called FinStart for 40,000 primary and secondary school students. The initiative aims to teach practical money management and how to recognize digital economy scams.
A new law will also prevent insurance companies from using a person's history of cancer to evaluate applications for loans or credit. The rule builds on a code of conduct established two years ago in April 2024. The right to be forgotten applies to survivors five years after finishing treatment with no relapse, a shorter timeframe than the 15 years permitted by European Union directives.
August obituaries
Mitsotakis paid tribute to three prominent Greek figures who died in August: Konstantinos Tsoukalas, Stelios Ramfos and Stefanos Manos. He praised Tsoukalas for analyzing Greek society, Ramfos for seeking its deeper roots, and Manos for proposing practical solutions to chronic weaknesses.
The prime minister also congratulated Greek athletes who competed in August, highlighting successes in track and field, swimming, rowing, sailing, shooting, gymnastics, and men's and girls' water polo. He named athletes Tentoglou, Karalis, Petrounias, Roussou, Mitropoulou, Iakovaki, Christou, Siskos, Mouselimis, Chiotis, Alexiou, Mouratidou, Triantou, Samaras, Theodorakopoulou, Gerochristos, Markantonaki, Baxevanakis and Nikolantonakis.
