Tagged: Stournaras

“Debt sustainability and more realistic fiscal targets”

The Governor of the Bank of Greece Yannis Stournaras stressed the need for “debt sustainability along with a more realistic final fiscal target after the end of the current program” in an interview for German newspaper Handelsblatt. According to the central banker, new measures are needed to lighten the Greek debt burden, which could include […]

Stournaras: “The bailout review must conclude by the end of 2016”

The Governor of the Bank of Greece Yannis Stournaras underlined that Greece can achieve a 2% primary budget surplus percent next year, warning that the main risk for the economy would be a failure to conclude a crucial bailout review. From the stand of the American-Hellenic Chamber of Commerce’s annual conference on the Greek economy […]

Stournaras: “The capital controls will soon be eased”

The Governor of the Bank of Greece Yannis Stournaras revealed that the capital controls introduced in the summer of 2015 will soon be eased, according to an interview for Reuters. This, Mr. Stournaras explained, will depend on progress in easing the country’s debt burden, which is also a precondition for entering the ECB’s asset buying […]

BoG Gov. reportedly promises creditors new bank managements by Oct. 31

Bank of Greece (BoG) Governor Yannis Stournaras reportedly promised institutional creditors that the board of directors of Greece’s four systemic banks will have been replaced by Oct. 31, in line with SSM-mandated guidelines on corporate governance. Stournaras, Greece’s increasingly high-profile central banker and previous finance minister in the coalition government preceding the current leftist SYRIZA […]

Stournaras comments on capital controls and Varoufakis

A large part of the money that was taken out of the banks between December 2014, when early elections were called after a President could not be elected, and the announcement for the referendum in June 2015, is stashed under ‘mattresses’, argued the Governor of the Bank of Greece Yannis Stournaras on Tuesday. Asked by […]

Bank of Greece Governor blasts ex-Finance Minister Varoufakis before parliamentary committee

The Governor of the Bank of Greece (BoG), Yiannis Stornaras testified before the parliamentary enquiry committee examining the loans to Greek media, Tuesday, causing former Finance Minister Yianis Varoufakis for the harm caused on the Greek economy due to the capital controls imposed in the summer of 2015. In the long, and often heated questing […]

Stournaras on loans towards media groups and political parties

The Governor of the Bank of Greece and former Minister of Finance Yannis Stournaras is testifying before the parliamentary committee tasked with investigating a series of loans that were granted to media groups and political parties. “The financial sector was not the main cause of the crisis” argued the Bank of Greece governor before the […]

Stournaras: Greek banks safe from Deutsche impact

The Greek and international banking systems are “safe” and tools are in place to protect them from any impact from the crisis engulfing Deutsche Bank, Greek central bank chief Yannis Stournaras said on Friday. Deutsche, which employs around 100,000 people, has been in turmoil after being handed a demand for up to $14 billion earlier […]

Stournaras-Spirtzis escalate dispute over Attica Bank

The Governor of the Bank of Greece Yannis Stournaras has urged the Minister of Transport Christos Spirtzis to “keep quiet”, in response to their dispute over Attica Bank. In a recent radio interview the Transport Minister noted that since 2011 there have been two share capital increases at Attica Bank, with the Bank of Greece […]

BoG: Latest developments in Greek economy positive

Bank of Greece (BoG) Yannis Stournaras this week appeared optimistic over the Greek economy’s prospects, saying developments were more positive in the country than previously. Stournaras referred to figures now in the BoG’s hands, in briefing the Greek President Prokopis Pavlopoulos on Tuesday. In reference to a comment by the figure-head Greek president over the […]

BoG: Primary surplus targets must be reduced to 2%

In its Monetary Policy Report for 2015-2016 that was submitted in Parliament on Wednesday morning, the Bank of Greece underlines the need to reduced the primary surplus targets from 2018 onwards to 2%, from the 3.5% target set out in the recent agreement. This policy report follows recent statements by the Bank’s governor Yannis Stournaras […]

Stournaras insists upon a “new deal” with creditors and partners

The Governor of the Bank of Greece Yannis Stournaras has underlined the need for a “new deal” with the country’s international creditors, in an article he published in the Financial Times. Although the central banker readily admits the failures of Greek governments to implement ambitious reforms and privatizations, he stresses that the country’s European partners […]

Stournaras explains how “the Grexit is a closed chapter”

The governor of the Bank of Greece Yannis Stournaras was adamant that the possibility of ‘Grexit’ is “a closed chapter”, in an interview he gave to the Financial Times. In the interview Mr. Stournaras argued that he predicts that the local economy will return to growth in the second half of 2016, since there was […]