In the context of a discussion on economic and business relations between Greece and France, Thodoris Tzouros, Head of Corporate & Investment Banking at Piraeus Bank, emphasized the longstanding strategic partnership between the two countries. He noted that bilateral investment flows have strengthened significantly in recent years, with French corporate groups leaving a notable imprint on the Greek economy.
Energy, Infrastructure, and Financial Services in Focus
Tzouros highlighted the key sectors in which French companies are particularly active, including renewable energy, infrastructure—especially highways and water management projects—and financial services. He specifically mentioned the role of French banks in financing Greek shipping, one of the most internationalized sectors of the economy.
At the same time, he noted the growing international presence of Greek companies, which are increasingly expanding into the French market. He cited recent acquisitions and expressions of interest by Greek groups in the industrial and metallurgical sectors as examples.
Scope for Further Deepening Cooperation
According to Piraeus Bank’s Corporate & Investment Banking head, Franco-Greek cooperation is already at a high level, yet significant opportunities remain for further strengthening. He highlighted the need for higher value-added investments, particularly in industry and technology, the enhancement of defense industrial collaboration with Greek companies participating in French supply chains, and the utilization of Greek shipyards for specialized manufacturing.
Greece’s Economic “Turnaround Story”
Tzouros described Greece’s economic trajectory as one of the most impressive “turnaround stories” in Europe over the past decade. He noted that the country now enjoys stable public finances, a healthy banking system, and an investment-oriented government, putting it on a strong growth trajectory.
He also emphasized Greece’s comparative advantages, including high-quality human capital, opportunities in digital transformation, its role as an energy hub in Southeastern Europe, and a rapidly growing innovation and start-up ecosystem.
The Role of the RRF and the Next Phase
Tzouros highlighted the Recovery and Resilience Fund (RRF) as a catalyst for growth in recent years. With total resources of €36 billion—approximately 16% of GDP—Greece implemented major infrastructure, green energy, and digital transformation projects. Absorption has reached 65%, and the contribution to GDP is estimated at close to one percentage point.
Looking ahead, after the completion of the program in 2026, the role of European funding institutions, the Hellenic Development Bank, and capital markets will become even more critical. In 2025, Greek companies issued corporate bonds totaling €2.5 billion, and integration into the pan-European Euronext ecosystem is expected to further enhance liquidity and access to international capital.