Joseph Ackermann to Speak in Athens as Europe Reconsiders Its Future Amid Global Uncertainty
Ackermann, who also served as chairman of the Bank of Cyprus, will deliver the keynote address at the Olympia Dialogues, a forum organized by the Olympia Group. The event will take place on Tuesday, June 10, 2025, at the historic Zappeion Megaron, and will center on the theme: “Europe. Reclaiming Vision. Driving Action.”
The timing of the conference is no coincidence. As Europe grapples with rising economic uncertainty, geopolitical fragmentation, and increasing pressure to redefine its global role, the Olympia Dialogues aims to serve as a space for strategic reflection and high-level discussion. Ackermann’s participation underscores the gravity of the moment. Long regarded as a towering figure in global finance, his insights carry considerable weight at a time when the European Union is being forced to reassess its direction.
What is generating particular interest around Ackermann’s appearance is whether he will publicly revisit a little-known episode from the early days of the eurozone debt crisis—an episode that could have altered the course of Greece’s financial collapse. In early 2010, before Greece formally turned to the International Monetary Fund, Ackermann reportedly proposed a plan to German Chancellor Angela Merkel and French President Nicolas Sarkozy aimed at offering immediate, coordinated financial support to Athens. The initiative, which involved a joint Franco-German mechanism, was designed to buy
Greece valuable time to address its liquidity crisis and avoid a deeper plunge into sovereign debt distress.
Although the proposal was initially well received, it was ultimately shelved. Domestic political concerns in Germany, particularly fears over voter backlash ahead of regional elections and lingering resentment over bank bailouts during the 2008 financial crisis, led Berlin to withdraw its support. The plan, later dubbed the "Ackermann Plan," was not intended to solve Greece’s problems outright, but rather to mitigate the fallout and prevent the crisis from becoming irreversible.
Whether Ackermann will touch on this sensitive episode remains to be seen, but any mention would offer rare insight into the behind-the-scenes deliberations that shaped one of Europe’s most critical financial turning points. It could also shed light on how close the continent came to pursuing a different path—one that might have spared Greece and the eurozone from years of austerity and political turmoil.
In addition to Ackermann, the Olympia Dialogues will feature prominent figures from Greece’s political and financial sectors. Among the speakers are Greek Deputy Prime Minister Kostis Hatzidakis, National Bank of Greece chairman and head of the Hellenic Bank Association Gikas Hardouvelis, and Olympia Group CEO Andreas Athanasopoulos. Together, they will contribute to a broader conversation on how Europe can reclaim strategic clarity and take decisive action in an increasingly volatile world.
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