US Ambassador to Greece George Tsunis said that he was impressed by the course of the Greek economy. “Greece’s best days are ahead,” he said in an interview with “Naftemporiki” and Michalis Psilos.
Speaking with Tsunis at the embassy residence, the ambassador spoke in detail about the course of the Greek economy and the strategic cooperation of the two countries in all fields.
“It is very important for the United States to have a strong, democratic Greece as a valuable, reliable and capable partner. A factor that contributes to the consolidation of stability throughout the region,” Tsounis noted. He expressed the belief that “US investments will continue because Greece, after years of crisis, has found its way, the economy is growing…Greece is redrawing the energy map of South-Eastern Europe.”
“Greece can offer the way out as an energy hub in Southeast Europe, but also as a logistics hub, a connectivity hub. The route is shorter and cheaper through Alexandroupolis than through the Bosphorus Straits. It is a reliable alternative. Greece provides an important leadership position in Europe. I repeat: Greece is a reliable partner and this is in the global interest,” he emphasized.
He also focused on cooperation in the shipbuilding sector and the defense industry. The US Ambassador referred to the contribution of the two US companies ONEX and CISCO to the revitalization of the shipyards, stressing that this cooperation “will not only strengthen Greece’s leadership position, but it will enable the US and Greek navies to proceed with the co-production of the new generation of Constellation frigates.”
The cooperation of the Hellenic Aerospace Industry with Martin Lockheed will also contribute to the modernization of Greek weapons systems, the US Ambassador underlined.
“The relations of the United States with Greece are very good and will become even better. I firmly believe that it is in Greece’s interest to be committed to its relations with the United States, the EU and NATO, the West in general,” Tsunis stated.
Asked about Greek-Turkish relations, the United States Ambassador stressed the importance of peaceful coexistence of the two peoples. As he said, this is in everyone’s interest – the US, Turkey and Greece.
You have repeatedly emphasized that the “Greek-US relations have never been stronger.” In which areas do you see even greater scope for strengthening bilateral relations?
The relations of the United States with Greece are very good and will become even better. I strongly believe that it is in Greece’s interest to be committed to its relations with the United States, the EU and NATO, the West in general.
The ethos, principles and values of the West are democracy. Democracy was born here in ancient Greece and that’s why I believe the country should be in the West.
On the contrary, in anti-Western countries, such as Iran, North Korea, Venezuela, China, Russia, citizens cannot even have free access to the Internet, they cannot protest, they are also sent to the so-called “gulags” in some places. The principles of freedom were born here in Greece and for the first time citizens had a say in self-determination, in how and by whom they want to be governed. This is where Western values for democracy were born.
Today, it is not only that the United States and Greece share very strong values, but it is very important for the United States to have a strong, democratic Greece as a valuable, reliable and capable partner. A contributing factor in establishing stability throughout the region. Therefore, Greek and US interests are very much connected in all areas: economy, culture, society, politics, and common defense through NATO. The United States maintains a very high-quality cooperation with Greece based on these values and the common interest.
Investments
US companies, such as Amazon Web Services, Microsoft, JP Morgan, Meta and others, have made or are making large investments in Greece. Will be there more to come?
Undoubtedly. US businesses have discovered Greece. The country is not only a great place for vacation or a beautiful place to live, but also an important state for investment. And this is because Greece possesses, above all, something that all CEOs are looking for: brilliant, educated people with many qualifications. In other words, Greece has significant intellectual capital.
I estimate that US investments will continue because Greece, after years of crisis, has found its way, the economy is growing, and businesses have difficulty finding highly trained personnel. This can be covered by continuous retraining, by integrating people who even come to work in Greece from abroad.
The same way my own family went to the United States to find a better life. We were accepted to the United States, we worked, we raised families, we built our lives, we ran businesses. All people want the same thing, because they seek a better future for themselves and their families. In Europe this is the new dream for people.
Greece’s economy has now recovered investment grade, unemployment has fallen from 28% to single digits, the spread on the 10-year bond is now narrower than the United States and other partners. It is incredible. The Greek economy is growing three to four times more than the average in the eurozone. And for the last three years, Greece has been the fastest growing economy in Europe. The primary surplus is the highest, reaching 2%-2.8%. I don’t think there is another country in Europe that has a bigger surplus.
Managing inflation
I also see wages rising and inflation being manageable except for the supermarkets. But the problem of inflation is a global phenomenon. I hope that the prices will go down because there is no reason that the same products are sold higher than in Germany.
And everyone agrees that this is unacceptable, and I believe that very soon this will be dealt with. I would like to say that I have a lot of respect for the Development Minister, Kostas Skrekas, who is doing an excellent job, with his very aggressive stance against inflation, so that Greek consumers are treated fairly.
Greece’s best days are ahead. Many investments are coming. The successful management of European funds will help not only in social cohesion, but also in the utilization of EU funds. I am very impressed with the Greek economy.
Investments of Greek companies in the United States are also increasing…
Many Greek companies have access to the US capital markets. Before the crisis, some 29 Greek shipping companies were listed on Wall Street. The US capital markets helped Greek shipping companies significantly.
Greece has excellent companies that develop and operate abroad. The CEOs of these companies are very intelligent. It is an extraordinary phenomenon to see so many Greek companies investing in the USA, the largest market in the world. Of course they want access to it. As we see many US and Western companies investing in Greece. This is how employment is strengthened, the dignity of citizens to have a job and take care of their families. This is how prosperity comes. And increasing prosperity brings stability and peace. And this is very important in the interest of both Greece and the United States.
Greece is drawing the energy map of SE Europe
Greece aspires to develop into an energy hub in the region and an energy supplier in SE Europe. How is the United States’ energy cooperation with Greece progressing? What new US investments are planned in the energy sector?
Greece redraws the energy map of South-Eastern Europe. Greece already has an expanding infrastructure. Revythoussa, the facilities in Alexandroupolis, the IGB pipeline connecting Greece to Bulgaria and the extension of the second interconnection network from Thessaloniki to North Macedonia. Greece is able to help its northern neighbors as an alternative energy source.
For many years, Europe depended, almost exclusively, on Russia for energy. And I don’t think Russia used it in the right way.
I have traveled to all the capitals of south-eastern Europe and talked to the relevant ministers, stressing the need to have alternative sources. Greece can offer the alternative as an energy hub in Southeast Europe, but also as a logistics hub, a connectivity hub. Through Alexandroupolis the route is shorter and cheaper than through the Bosphorus Straits. It is a reliable alternative. Rail connectivity is not only beneficial for economic reasons, but it is also for national security reasons. Greece provides an important leadership position in Europe. I repeat: Greece is a reliable partner and this is in the global interest. Everyone – from Washington to Brussels – recognizes Greece as the primary interlocutor for solving the problems of Southeast Europe.
Strategic cooperation with the Hellenic Aerospace Industry
How is Lockheed Martin’s strategic collaboration with the Hellenic Aerospace Industry progressing? To what extend will this cooperation help the Greek defense industry?
I would like to see this cooperation continue and expand more quickly. 122 Block-50 and 52 F-16 aircraft will be upgraded, which are highly efficient, state-of-the-art aircraft. And this is done in collaboration between the Hellenic Aerospace Industry and Martin Lockheed.
The cooperation will contribute to the modernization of Greek weapons systems, and will give Greece a big boost as an important partner in NATO, especially in the SE wing of NATO which is also very important to the Alliance.
The continued modernization of the Greek Armed Forces will not only strengthen the country’s defense capability but will allow Greece to play a more important role in advancing NATO’s goals.
Cooperation in the shipbuilding industry
You have repeatedly referred to the decisive role that the Greek shipbuilding industry can play. With the revival of Greece’s shipbuilding industry, will maritime cooperation between Greece and the US be able to be further strengthened?
There is a very big opportunity. Greece has a historical heritage in these infrastructures. There was a huge shipbuilding infrastructure in Elefsis, Skaramangas, Syros, with a great development of the shipbuilding industry in Greece in the decades of the 70s, 80s and 90s.
Of course, I will not stick to the past, but I will refer to the future. The US government helped Syros. A US company, ONEX, and also US CISCO, are back. In the past, the shipyards of Syros used to repair 10 ships a year, now more than 100. About 250 million euros have flowed into the economy because of the shipyards of Syros, increasing the economy of the island by 40%. In addition, the hospital was technologically modernized, becoming an innovation center that helps people with skills. We also invested 125 million dollars in the Elefsis shipyards. In Elefsis we have nine large ships being rebuilt. This is important for many reasons. We helped decarbonize the shipbuilding industry, as these ships are being rebuilt to reduce the carbon footprint of Greek shipping.
Renaissance of the shipyards by Mr. Prokopiou
When we started, the Elefsis shipyards had just 300 employees, many of them part-time. They now employ over 1,000 people full-time. More than 250 million dollars is expected to be invested there. I firmly believe that the two US companies ONEX and CISCO will revitalize the Greek business. Over 3,000 people will soon be working there. We give them hope. In total, we are talking about 2 billion euros in aid to the Greek economy. And this is an example of what it means for Greece and the US to work together.
Mr. George Prokopiou bought the Skaramangas shipyards investing 150 million dollars. Mr. Prokopiou is one of the most capable people I have met in my entire life.
Co-production of the Constellation frigates.
How do you see the Greek government’s proposal for the design and construction of a number of US Constellation-type frigates in Greece, adapted to Greek conditions?
The renaissance of the shipyards will not only strengthen Greece’s leadership position but will enable the American and Greek navies to proceed with the co-production of the new generation of Constellation frigates.
We are not only talking about the strengthening of Greece’s defense capacity, the strengthening of Greek-US cooperation, but the revitalization of an entire industrial sector. It’s a win-win situation for all involved.
Peaceful coexistence of the peoples of Greece and Turkey.
How do you see Greek-Turkish relations progressing? There is a positive climate, but Ankara doesn’t seem to be putting aside its ambitions outside of international law, in the Aegean.
I have been here for two years and I would tell you that in the last 12-14 months I see a rapprochement as some say, a rewarming of relations. As I said last year at the Delphi forum, the Greek and Turkish diplomats should sit at the table and consult, discuss the issues that can be solved together.
Today I see a very good, positive agenda moving forward. This positive agenda speaks of granting visas to Turkish citizens to visit the Greek islands. This will lead to the huge presence of Turkish tourists on the Greek islands. I spoke with my good friend, the regional governor of the South Aegean and he told me that this will give a big boost to the economy of the Greek islands. This brings people closer together. We need to emphasize peaceful coexistence and this is already happening. In the peaceful coexistence of the two peoples. And this is in everyone’s interest – the US, Turkey and Greece, as long as the rewarming of relations continues.
How do you see the latest developments in the Cyprus issue? Turkey insists on talking about two states, against UN resolutions.
I know the decisions of the United Nations. United States President Joe Biden and Secretary of State Anthony Blinken have made it clear that UN resolutions are non-negotiable. We have an excellent US Ambassador in Cyprus – her name is Julie Fisher. I would not like to refer to something that is outside my competence. I am responsible for one relationship only: that between the US and Greece. I focus on this every day.
We must support the Ukrainians
One last question, Mr. Ambassador. For 25 months, the war in Ukraine has continued after the Russian invasion. Do you see this war ending and how?
I hope it will end soon, but I don’t know how. But this will happen if Western solidarity with the people of Ukraine continues. We talked earlier about the values of democracy and personal freedom that were born here in Greece. My government emphasizes that the only people dying for these values are Ukrainians. And we must support them. Continuing to support the Ukrainians is absolutely fundamental. I hope that President Putin will understand that it is not in Russia’s interest to continue the war against the entire West. President Biden and NATO stand firmly with the Ukrainians, and I hope that Moscow will seriously reconsider its position and the Ukrainian people can return to a country that is safe, democratic, and fully Ukrainian.
