Displaying items by tag: stournaras

The institution of the Recovery Fund should be made "permanent" as a development intervention and rapid completion of the banking union with the exception of deposits from the bail-in process and the creation of a credit line by the ECB for the consolidation of banks.

The government, taking into account the independence and charter of the Bank of Greece, is proposing the renewal of the term of current governor Yannis Stournaras, said government spokesperson Stelios Petsas in an announcement on Tuesday.

Estimates of a 10 pct economic contraction this year were excessive, Bank of Greece governor Yannis Stournaras said on Tuesday, and noted he expected the country’s GDP to shrink by 8.0 pct under the worst-case scenario.