BoG Gov. Stournaras again calls for precautionary credit line after bailout ends in Aug.
Influential Bank of Greece (BoG) Gov. Yannis Stournaras on Monday repeated his position that a precautionary credit line would assist the Greek economy after the end of the current – third – bailout in August, saying such a prospect would keep borrowing costs low and aid the country’s full return to sovereign money markets.
He emphasized that this was particularly important if conditions in global markets worsened.
Stournaras’ insistence on the benefits of such a precautionary line, however, have repeatedly clashed with the leftist-rightist coalition government’s favorite scenario of a “clean exit” from the memorandum era, or, more recently, a “loose supervision” by creditors without the attached “life line”.
Speaking at an event held by the Hellenic-Spanish chamber of commerce in Athens on Monday, he cited “positive prospects” for the Greek government, under the condition that all reforms and privatizations are implemented normally and within the agreed to timetable – echoing the leitmotif of European creditors vis-a-vis Greece.
You may be interested
Central bank seeks clarifications from Attica Bank over minister’s 100K loanPanos - Feb 19, 2019
Two top Attica Bank executives - its deputy CEO and managing director - met urgently on Monday with Bank of…
Many worldwide oppose more migrationPanos - Feb 19, 2019
As the number of international migrants reaches new highs, people around the world show little appetite for more migration –…
Four bodies recovered in car swept away by flood waters in Crete on Sun.Panos - Feb 19, 2019
The bodies of four people, missing after the car they were riding in was swept away in a flash flood…