Greek Prime Minister Kyriakos Mitsotakis reassured all Greek depositors that their money is safe despite the « global financial storm ».

He claims that concerns about competitiveness of the European economy will be the primary topic of the European Council in March.

Europe is grappling with a number of significant economic issues, according to Mitsotakis.

He claimed that problems stemming from the European Central Bank’s interest rate increases to combat inflation are to blame in addition to « imported high costs ».

The prime minister stated, « We know that this increase in interest rates is also putting pressure on Greek borrowers, as it forces them to allocate a significant portion of their disposable income to lending services, » adding that banks have grown more powerful recently.

In light of the recent emergence of a global financial storm, Mitsotakis added, « I want to reassure all Greek depositors that the Greek banking system is robust and that their deposits are protected. »

source: reuters.com