Eurozone is near the end of a tighter monetary policy cycle, Bank of Greece governor Yannis Stournaras said on Wednesday. He expressed his belief that “we have come close to the end of interest rate increases”.
Addressing a conference organized by the Federation of Insurance Companies of Greece, the central banker said Greece was also close to obtaining the investment grade.
“The Greek economy and Greek banks lived through a big crisis, three memorandums, and this has benefited us,” Stournaras said, adding that Greek banks have satisfactory liquidity.
The central banker said insurance companies can play a double role in moderating and adjusting climate change as risk managers and investors directing their money to actions contributing to climate policies.
Stournaras said that the coronavirus pandemic and recent natural disasters highlighted beyond any doubt the lack of private insurance by Greek consumers. He said he would welcome the introduction of incentives aimed to facilitate the increase of insurance business in Greece.