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SYRIZA MP takes legal action against Bank of Greece Governor over Monetary Policy report

SYRIZA MP Rachil Makri took legal action against Bank of Greece Governor Yannis Stournaras, accusing the banking chief of “possible malice” as regards his monetary policy report on Wednesday. In the Monetary Policy report 2014-2015, the Bank of Greece warned of a likely Greek exit from the eurozone and even from the European Union in the event that the government fails to reach a deal with the country’s creditors.

Makri, who lodged her legal suit with Supreme Court prosecutor Efterpi Koutzamani on Thursday, blamed the spike in withdrawals from Greek banks on Stournaras’s statements and suggested that he should resign.

She noted that previous central bank governors had expressed concerns to political party leaders in the past but in private, noting that Stournaras’s public warning came at a “critical point in the negotiations” between Greece and its lenders, while the BoG reports are been traditionally published either in October or in February.

Speaking to reporters, Rachil Makri complained that the Bank of Greece report triggered insecurity among the citizens and stressed that “many horrified citizens call me and ask me what they should do with their money.”

Before appointed to the Bank of Greece, Yannis Stournaras had served as Finance Minister (July 2012 – June 2014) under New Democracy-PASOK government. He is considered a pro-austerity hardliner and he has been under frequent attack by the Greek left-wing – nationalist coalition government.

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  1. Is that true that the only person in statistical bureau in Greece who was investigated by police (for possible criminal activities related to debt statistics) was the chief who repaired the wrong statistics about Greek debt and not those who created and published previous false statistical data?

    I red somewhere, that only he was investigated (and may be taken into custody – I do not remember) because he increased the debt figure too much.

    • This has nothing to do with anything. Stop trying to cause trouble: you are clearly an anti-Greek troll.

    • The person you are talking about as cooked up the statistic to make the Greek situation as black as possible, in the interest of French and German Banks, those false statistic permit to lower the note of Greece and justify the IMF intervention.
      Yes the stat was bogus but not to minimize but to maximize, I am partisan of life sentence without parole for ALL the person who directly participate to the death of 25000 honest Greek citizen.
      In a confidential note of thee IMF of 2010 the IMF describe very well the consequence of his exigence, goal put Greek people in a state of total dependency with the impossibility for them to repay.
      Those are the people you are defending, I hope that they give you good money to write your posts.
      Receive all my lack of consideration

  2. Yannis Stournaras is a minion of the IMF and the international financial mafia. He his a saboteur as was already proven with its intervention Thursday.
    Its beyond me how the current Greek government allows this guy to be in control of such a crucial sector of the Greek economy and over all life. If you want to talk about “amateur hour” this is a prime example.
    This move by a Syriza MP is most welcomed, but it falls very short of what is necessary.

    • Yeah, and you’re a minion of those marxist creeps, Syrizanel…may they rot in Hell forever for destroying this beautiful country and making millions of poor people starve! [….]

  3. It is certainly true that the Governor of the central bank should be communicating warnings to the government in private, and not going to the press. It is very likely that Stournaras has created the bank run, with his attempt to stop the Syriza government from carrying out its own agenda. It is not the job of the central bank to engage in politics.

    • In a lot of countries it is a normal procedure for the Governor of the Central Bank to give press-conferences in which he (are there she’s in this world???) is stating his opinions. It has to do with the independants of his position. His role is not only for internal political consumptions, but for the whole monetary world.
      And one can dismiss his opinions. As a citizen AND surely as a government. But that’s it. After that one can only not renew his tenure… But in Greece it seems to be now the norm to start a legal witch hunt. Not only this MP, but now also the Speaker of parliament is going after him and directing committees to bring him in front of them…
      Sound more and more like Romania under Ceaușescu… 🙁

      • It is also pretty obvious that this “report” was released with the sole intention of doing maximum damage rather than being a warning. The guy should not be charged with “possible damage”, he should be charged with treason…
        As for sacking him, I could be wrong, but I don’t think the government actually can sack him. As far as I remember he is appointed for a specific period of time, and that appointment is irreversible…

        • One of the neoliberal ideas that emerged in the 1990s (with Blair enthusiastically doing it with the Bank of England) was to put all central banks into the private sector and give them legal autonomy, such that the Governor would be appointed by a government but could not be sacked. This was a way to push forward the primacy of markets and reduce democratic control over economies.
          In some countries, such as the USA and Germany, it has always been the case (at least, since 1945) and has worked moderately well. In both cases, the central banks prioritised inflation and paid no attention to unemployment — again, a neoliberal intent.

      • keeptalkinggreece

        there is one think to warn of possible financial impact and another to warn of “EU exit.” that’s intervention into political decisions. as much as I can reckon, I don;t remember Provopoulos to has issued reports with such comments.

      • More and more like Venezuela. Political prisons next. Maduro or Putin will tell Greeks how to set them up. Witch hunts, some people burnt at stake. All because some corrupted politicians were allowed to borrow more money than the country could handle. Why isn’t anyone in jail yet?

        • Giaourti Giaourtaki

          So you are too blind to see that the last years Greek prisons saw a rising number of political prisoners.
          Hopefully Syriza will has to announce an amnesty for all prisoners that fell victim to the repression against the Troika resisting social movements.
          Would be funny to see who goes nuts then…

        • That is a very good question.

          I guess corruption is not even regarded as a crime in the inner circles of those parties.

          But why are the people of Greece are not demanding a court ruling?

          Maybe that is exactly the reason for this whole “Evil EU” campaign, they know what happens if the voters start investigating.

          • Giaourti Giaourtaki

            The question is why don’t you do research and why the media isn’t reporting, go tag for korruption on griechenlandblog, all articles have links and names in it and there are politicians in jail, some for 20 years.
            One reason not to deport a German-Greek Siemens boss to Greece was that his life would be in danger in Greek prison although his colleague could stay under “arrest” at his villa on Paros

  4. So now you can get sued in Greece for handing in a evaluation as an expert.

    Are you guys noticing something?