“We’re already fighting yesterday’s battle”: Greece’s prime minister gets candid about AI

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“We’re already fighting yesterday’s battle”: Greece’s prime minister gets candid about AI

TechCrunch · 32 minutes ago

Greek Prime Minister Kyriakos Mitsotakis visited San Francisco on a trade mission to promote Greece as a destination for technology investment and talent, candidly admitting to roughly 250 founders and investors that he lacks answers to many of the AI policy questions world leaders are privately debating. His trip combined fact-finding visits to companies like Tesla and Sequoia Capital with efforts to attract tech firms to Greece, which is poised to regain developed market status from index provider MSCI next year. The broader objective is to reverse the brain drain from Greece's debt crisis, when many younger citizens emigrated due to lack of opportunities.

Mitsotakis highlighted Greece's economic transformation, noting the country is reducing its debt at record pace and now borrows more cheaply than the United States—its 10-year bond yield stands at approximately 4.3% compared with roughly 5% for US Treasuries, a stark contrast to 2012 when Greek yields reached 40%. Greece has deployed approximately €36 billion from the EU's post-COVID recovery fund into digital infrastructure, including a government portal eliminating the need for queuing and a new supercomputer in Lavrio to power AI research. The government has also introduced competitive incentives: revised stock option taxation, relaxed labour laws, and tax reductions of up to seven years for returning Greeks, alongside expanded visa programmes, though processing speed remains an area requiring improvement.

  • Greece's PM admits uncertainty on AI policy whilst recruiting tech investment to reverse brain drain
  • Greece now borrows cheaper than the US, marking recovery from 2012 debt crisis
  • €36 billion EU recovery fund directed to digital infrastructure and AI supercomputer

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