New Greek PM Mitsotakis sworn in

Greece’s new prime minister, Kyriakos Mitsotakis, formally takes up the reins yesterday, a day after an election victory that puts him in charge of the EU’s most indebted member with promises to end a decade of economic crisis.

The challenge facing the US-educated conservative is a hefty one as he takes over from defeated leftwing leader Alexis Tsipras, who imposed austerity measures required under a bailout to keep Greece in the eurozone.

The country’s public debt last year stood at 335 billion euros ($376 billion), or 180 percent of GDP. The debt load is forecast to fall to 168 percent of GDP this year, but only under belt-tightening brought in under Tsipras’s Syriza party—something that Mitsotakis’s New Democracy party says is stifling growth.

The 51-year-old Harvard graduate and former McKinsey consultant has pledged to create jobs and get rid of obstacles to business.

 

New Greek PM Mitsotakis sworn in

Greeces new prime minister, Kyriakos Mitsotakis, formally takes up the reins yesterday, a day after an election victory that puts him in charge of the EUs most indebted member with promises to end a decade of economic crisis. The challenge facing the US-educated conservative is a hefty one as he takes over from defeated leftwing leader Alexis Tsipras, who imposed austerity measures required under a bailout to keep Greece in the eurozone. The countrys public debt last year stood at 335 billion euros ($376 billion), or 180 percent of GDP. The debt load is forecast to fall to 168 percent of GDP this year, but only under belt-tightening brought in under Tsiprass Syriza partysomething that Mitsotakiss New Democracy party says is stifling growth. The 51-year-old Harvard graduate and former McKinsey consultant has pledged to create jobs and get rid of obstacles to business.