The European Central Bank must cut borrowing costs twice before the August summer break and another two times before the end of the year, without being influenced by the US Federal Reserve, according to ECB Governing Council member and governor of the Bank of Greece (BoG) Yannis Stournaras.

According to ECB boss Christine Lagarde, the domestic banking groups are in the first gear of the European banks after the recovery of the investment grade from Greece.

An official dinner in honor of President Christine Lagarde and the members of the Governing Council of the ECB was hosted yesterday by the Governor of the Bank of Greece Giannis Stournaras, in the context of hosting the meeting of the Governing Council of the European Central Bank (ECB), in Athens, after 15 years.