Declan Costello, Deputy Director General for Economic and Financial Affairs of the European Commission, analyzed the challenges facing the European economy and the prospects for Greece. at the last session of the 3rd Delphi Forum in Brussels.

He stressed that the EU is facing a number of critical issues such as the productivity gap, its place in globalization, energy costs, climate change and demographics. He stressed, however, that it has proven its ability to overcome difficulties when it reacts collectively, citing the response to the pandemic, Brexit and the war in Ukraine as examples. "We kept the EU standing because we acted together, quickly and in an innovative way," he said.

Referring to Greece, he acknowledged the progress of the country's economy since the crisis, noting the 9-10% increase in incomes and the reduction of the deficit and unemployment. However, he warned against the risk of overconfidence, stressing that "there is still a lot to be done.". He noted that Greece has significant European resources and that the big challenge is to absorb them effectively. He noted that debt servicing is at a satisfactory level, with no serious problems on the horizon. However, he questioned why, despite general progress, private investment has not increased significantly.

Asked about Europe's overall economic situation, he described the EU as "fragile" at this stage, explaining that the factors that had fueled growth have declined, creating a challenging environment. Despite the problems, he expressed confidence that there are solutions that can be implemented