Speaking today at a National Bank of Greece event, its new governor Yiannis Stournaras claimed that the nation's economic recovery is not maintainable without new loans, as reported by ANA-MPA.
During his address, Stournaras confirmed that the nation's current recovery was not dependent on bank lending, which barely occurred. He cautioned that this method can not go on any longer in Greece or Europe as a whole.
The NBG governor claimed that European Central Bank efforts have enhanced investor assurance. European Stability Mechanism chief Klaus Regling served as the seminar's keynote speaker. He declared that the debt of Greece is sustainable, yet urged the nation to pursue structural reforms for greater advancement.