Opens in a new tab

Breaking news

Kyriakos Mitsotakis Courting Silicon Valley, Even As He Admits Greece Doesn’t Have All The Answers On AI

Greek Prime Minister Kyriakos Mitsotakis arrived in San Francisco this week with a familiar objective for a head of government on a trade mission: pitch his country to investors, founders and companies deciding where to place their next bet.

But at an event hosted by Endeavor Greece, the global nonprofit that backs entrepreneurs in emerging and growth markets, Mitsotakis did something less typical. Speaking before roughly 250 founders, investors and operators, he said plainly that on artificial intelligence, he does not have all the answers — and that few leaders do.

The candor reflected the tone of a trip that was part sales tour, part listening exercise. Mitsotakis spent the morning visiting Tesla and Sequoia Capital, among other stops, before heading to the U.N. General Assembly in New York later in the week. He also used the visit to make a case for Greece as a destination for international talent and capital, particularly as the country prepares to regain developed market status from MSCI next year.

A Country Recasting Its Economic Narrative

“I think it’s another indication that the economy is doing well and that Greece is no longer treated as a special case,” Mitsotakis said.

The prime minister, who earned a master’s degree at Stanford and described the trip as a homecoming, leaned heavily on Greece’s economic turnaround. He pointed to the country’s rapid debt repayment and noted, somewhat provocatively, that Greece now borrows more cheaply than the United States.

That comparison is not exact. Eurozone interest rates remain lower than U.S. rates, which helps explain part of the gap. Still, the figures are striking: Greece’s 10-year bond yield is around 4.3%, compared with roughly 5% for U.S. Treasuries. That would have been unthinkable during the debt crisis, when Greek yields surged above 40% in 2012.

From Crisis Management To Digital State Building

Mitsotakis also framed Greece’s recovery in terms of how it has spent public money. Much of the roughly €36 billion the country received from the European Union’s post-COVID recovery fund, he said, has gone into digital infrastructure.

Among the examples he cited were an online government portal designed to reduce paperwork and waiting lines, and a new supercomputer in Lavrio, developed with Hewlett Packard Enterprise, that he said will begin operations within months to support AI and scientific research.

He also highlighted policy changes aimed at making Greece more attractive to startups and global employers. Those include reforms to stock-option taxation, looser labor rules and tax incentives for Greeks returning home, with lower rates available for up to seven years.

During the conversation, he also discussed Greece’s expanding visa programs, though he acknowledged the government still has work to do on processing speed. And he volunteered a point that underscored how much the country’s innovation ecosystem has changed: Greek public universities, once associated in his telling with a “radical leftist approach” skeptical of corporations, are now producing startups.

A Bid To Reverse The Brain Drain

At the heart of Mitsotakis’s pitch is a broader strategic goal: bring back the talent Greece lost during the debt crisis, when many younger citizens left in search of opportunity elsewhere.

He also sees a window created by tightening U.S. work visa rules. In that environment, he suggested, more founders and companies may find it easier to build teams in Greece.

For tech executives evaluating geography through the lens of talent, cost and policy flexibility, that argument carries weight. Greece is no longer presenting itself merely as a lower-cost European outpost. It is positioning itself as a modern operating base with improving infrastructure and a government eager to court innovation.

On Ai, Mitsotakis Says The Questions Are Moving Faster Than The Policy

The conversation became more serious when it turned to artificial intelligence and its social consequences. Mitsotakis was notably open about the limits of current policymaking.

Greece is preparing to ban social media use for children under 15 starting in January, in line with measures being debated or adopted in other countries. But he suggested that even that step may already be lagging behind the pace of technological change.

“Sometimes I feel that we’re already fighting yesterday’s battle,” he said. “What does it mean for our kids to grow up with digital companions or boyfriends or girlfriends?”

He was equally measured on AI in education. Greece has run a pilot program with OpenAI aimed at reducing teachers’ administrative burden, and Mitsotakis said he sees promise in personalized AI tutors. But he warned that such tools cannot come at the expense of mastering fundamentals.

“The hard work of learning the basic skills” still matters, he said, adding that students are already using chatbots to complete assignments. “Complacency is a human trait.”

Greece Bets On Ai Infrastructure

On infrastructure, Mitsotakis presented Greece as something of an outlier. While data center development is facing backlash in many countries over power and water consumption, he said Greece has seen little resistance.

He pointed to Microsoft’s data center buildout near Athens and AWS’s recent agreement with Greece’s largest utility to develop what would become the country’s biggest data center in a former coal region. In his telling, those projects are not politically difficult; they are welcomed.

That stance reflects a broader bet that Greece can become a relevant node in Europe’s digital economy by pairing available land, improving connectivity and policy support with a friendlier investment climate than some larger markets.

Regulation May Be Inevitable

What stood out most was not that Mitsotakis tried to sound certain on AI — it was that he refused to fake certainty.

He acknowledged that job displacement is coming and said bluntly that no government or society is prepared for how quickly it may arrive.

On whether AI development should slow down, he aligned himself with some of the frontier lab leaders calling for caution. If the builders themselves admit they do not fully understand how these systems improve themselves, he said, policymakers should listen.

“Smart regulation” is inevitable, he said, and the United States will largely shape its contours. Greece, however, would be happy to host the conversation.

Athens As A Venue For The Next Big Debate

Mitsotakis closed on a philosophical note, arguing that humanity has created “a form of intelligence that is very quickly exceeding the capacity of the most advanced organ that evolution has ever created.”

That, he suggested, raises questions that go beyond engineering and policy. It requires bringing technologists together with social scientists, philosophers and historians.

“I cannot think of a better place to really have these discussions,” he said.

He may have a point. Athens was once the site of Socrates’ relentless questioning in the agora, where the city debated what makes for a good life and a just society. As Silicon Valley wrestles with the implications of AI, Mitsotakis is betting that Greece can be more than a recipient of capital and talent. It can also be a place where the world’s hardest questions are asked.

Limassol Port Electrification Awaits Grid Connection And EU Funding

Plans to equip Limassol port with shore-side electricity are advancing at the technical level, but unresolved administrative procedures, a pending grid connection and the need to secure European funding continue to delay implementation.

The proposed shore-power system, also known as cold ironing, would allow vessels to connect to electricity while berthed, reducing reliance on onboard engines and cutting emissions and noise in the surrounding area.

Technical Studies Near Completion

Transport Minister Evi Tsolaki said work is progressing through the EU-backed DecarbonLim programme, which is preparing the technical assessment and feasibility study required before construction can begin. The ministry is seeking regular updates from the Cyprus Ports Authority on the studies’ completion timetable.

The initiative also involves Frederick University, Eurogate Container Terminal Limassol, DP World Limassol, the Electricity Authority of Cyprus, the Cyprus Transmission System Operator and Limassol Municipality.

Grid Connection Remains A Key Hurdle

Despite progress on the studies, construction cannot proceed until the project secures a connection to the national transmission network.

Tsolaki said the ministry has requested land from the Department of Lands and Surveys for an electricity substation. Once the site is allocated, the relevant applications can be submitted to the Cyprus Transmission System Operator to advance the grid-connection process.

Until these steps are completed, the project will remain in the preparatory phase, even if the technical studies are finalised.

European Funding Adds Urgency

The feasibility work under DecarbonLim will support an application for construction financing, Tsolaki said. A competitive European funding call is currently open, and the ministry intends to submit an application within the required timeframe.

The funding window has raised concerns in parliament. MP Fotini Tsiridou warned that further delays could undermine Cyprus’ chances of securing EU support, noting that similar port electrification projects elsewhere in the bloc have already received funding.

Speaking to Entrepreneurial Limassol, published by the Limassol Chamber of Commerce and Industry, Tsiridou said she had observed some progress but had yet to receive a formal response to her parliamentary question.

Environmental And Commercial Benefits

Tsiridou argued that shore-side electricity would deliver benefits beyond emissions reductions, including less noise and air pollution for residents near the port.

“Our port should not be disconnected from the rest of the city,” she said, describing shore-power infrastructure as both a necessity and a European obligation.

Across Europe, port electrification is increasingly linked to environmental performance and competitiveness. By allowing compatible vessels to switch off auxiliary engines while docked, shore-power systems can reduce local emissions and noise while supporting wider decarbonisation goals.

Construction Timetable Still Unclear

The Cyprus Ports Authority signed a contract with DBA S.p.A. in July 2025 for a comprehensive study of the system’s technical, economic and environmental requirements. The work was intended to establish the basis for installation and identify any necessary port infrastructure upgrades.

More than a year later, key steps concerning land allocation, grid connection and financing remain unresolved. No timetable has been announced for completing these procedures or submitting the final funding application.

Limassol’s shore-power project therefore remains between planning and implementation. Its next milestones are securing the substation site, progressing the transmission-network application and obtaining construction financing. Until these are in place, the port’s transition to shore-side electricity cannot move into the construction phase.

The Future Forbes Realty Global Properties
Aretilaw firm
eCredo
Uol

Become a Speaker

Become a Speaker

Become a Partner

Subscribe for our weekly newsletter