NY Times Blasts BoG Governor

The article hinges on a judicial report that states that the BoG governor approved a 71 million euro ($96 million) deal despite warnings from his staff regarding the buyer's finances.

The deal allowed, Lavrentis Lavrentiadis, to enter into a deal with Mr. Provopoulos's former employer, Piraeus Bank, at a vastly inflated price, enabling Lavrentiadis to gain control of Proton Bank. At the time, the deal was beneficial to Piraeus Bank as well.

In a bizarre twist, the new strongman of Proton placed former US ambassador to Athens Daniel Speckhard as CEO.

Although, Lavrentiadis was arrested and charged with a number of financial wrongdoings, with evidence provided by the BoG, the case is far from clear cut, and Mr. Provopoulos has gathered flak in the past for a number of questionable actions, including giving himself raises.