September 4, 2017
Economy
Greece’s influential central banker, Yannis Stournaras, was quoted on Sunday as saying that if the International Monetary Fund wants to leave the Greek program, “it should leave.” Stournaras message fueled speculation ahead of negotiations aimed to conclude the third review of the ongoing bailout. “If it (IMF) wants to leave, …
Read More »
April 10, 2017
Greece, Politics
Greek publisher and journalists Kostas Vaxevanis was briefly detained after the wife of Greece’s central banker Yannis Sournaras filed a lawsuit against him for slander. A day earlier, Vaxevanis newspaper had alleged that Stournaras’ wife was using her husbands’ influence to acquire state contracts for the public relations company. A …
Read More »
March 28, 2017
Greece, Politics
The Greek government told the country’s central bank chief to stay out of politics. On Monday, the Governor of Greek’s Central Bank and former finance minister Yannis Stournaras urged the government to wrap up the second review of the current bailout program. Stournaras warned that the delay in concluding the …
Read More »
November 10, 2016
Economy
Greece will soon ease capital controls further but full liberalization will depend on progress in easing the country’s debt burden, which is also a precondition for entering the ECB’s asset buying scheme, central bank chief Yannis Stournaras said. Propped up by three successive bailouts, Greece hopes to emerge from a …
Read More »
October 11, 2016
Politics
I don’t know if the World Mental Health Day on October 9th had an “inspiring” effect on some people who used to govern Greece. But today a current financial official and a former politician with high profile, both PASOK, claimed that Greece is and has being ruled by people with …
Read More »
September 15, 2016
Politics
The chief prosecution for corruption in Athens ordered the search of the home of the governor of Bank of Greece, Yannis Stournaras, in a judicial case that involves his spouse, Stavroula Nikolopoulou. Investigators have reportedly seized documents and electronic files in connection with his spouse’s company, a consulting and advertising …
Read More »
July 7, 2016
Economy
There has been a lot of talk about lifting, easing, twisting or whatevering of Capital Controls but fact is Capital Controls remain in position to safeguard the stability of Greek banks. Mainly for one reason: lack of confidence on the side of depositors. Greeks may have adjusted themselves to cash …
Read More »
June 15, 2016
Economy
In its Monetary Policy Report 2015-2016, the Bank of Greece urges for overhauling of the bailout agreement with 20-year extension of the loans, lower the Primary surplus target to 2%. The report describes the high taxation as “recessionary” and calls for a shift of policy focus towards reforms and privatizations, …
Read More »
May 13, 2016
Economy
Governor of Bank of Greece and former finance Minister Yannis Stournaras told reporters in Thessaloniki on Friday “If we have an agreement on May 24th and everything goes according to plan [he said exactly: according to wish], then capital controls will be lifted.” When he was asked to determine when …
Read More »
January 18, 2016
Lifestyle
Bank of Greece governor and former Memorandum of Understanding II Finance Minister Yannis Stournaras finally ound back to his rebel alter ego of social democracy and other nice stuff. Apparently tied of being a slave of the creditors, rebel Stournaras raised his head and attacked … Germany. “The present risks …
Read More »
June 17, 2015
Economy, Politics
The governor of Central Bank of Greece, Yiannis Stournaras wrote his annual report and forwarded it to the Greek Parliament and Tsipras’ cabinet. In his 141-page report Monetary Policy 2014-2015, the former Finance Minister of Samaras-Venizelos government warned that Greece faces an “uncontrollable crisis”, if a deal cannot be reached …
Read More »
February 6, 2015
Economy
Greek central bank governor Yannis Stournaras said on Thursday that Greek banks were solid and under control, a day after the European Central Bank denied them use of Greek bonds as collateral for loans. “Deposits and liquidity are absolutely safe,” Stournaras, who is also a member of the European Central …
Read More »
June 11, 2014
Economy, Politics
For some blessed people the stars are always shining above their heads. Hardly had Yiannis Stournaras lost his job as Greece’s Finance Minister, a new job has been waving to him and thus with better salary and much more benefits. Stournaras’ new job is to be Governor of Bank of …
Read More »
June 9, 2014
Politics
Greeks are holding their breath in agony and expectation. The countdown clock for Greece’s coalition cabinet reshuffle is ticking. It is ticking to the right – Samaras’ Nea Dimokratia – , it is ticking to the left -Venizelos’ PASOK. According to latest media reports, it is also ticking to the …
Read More »
June 5, 2014
Politics
Haris Theocharis, general secretary of Greece’ public revenues was forced to resign. Officially, Theocharis submitted his resignation “for personal reasons”. Unofficially, he was forced to resign and thus before the upcoming government reshuffle aiming to build a “social policy profile” around Prime Minister Antonis Samaras. Haris Theocharis submitted his resignation …
Read More »
June 4, 2014
Politics
The ministers have closed their files and opened their laptops. They surf on internet, call journalists closed to Prime Minister Samaras and deputy Prime Minister Venizelos, they read and analyze reshuffle scenarios trying to guess whether they will remain seated on their chairs, climb on new ones or they will …
Read More »
June 3, 2014
Economy
The Greek economic crisis is over! Finance Minister Yiannis Stournaras said so to daily The Globe and Mail. In order to convince the Canadian journalist about the bright side of the recovering Greek economy Stournaras came up with an unquestionable argument: He replaced the windows of the finance ministry in …
Read More »
May 27, 2014
Politics
“I am not going to turn into a punching bag,” Greek Finance Minister Yiannis Stournaras had let his critics know through his close aides. “I do not wish to stay in the ministry under these circumstances,” Stournaras had felt the need to reply to criticism coming from Nea Dimokratia that …
Read More »
May 22, 2014
Politics
Incredibly short before the elections, Finance Minister Yiannis Stournaras saw the light. Two years after running Greece’s finances, Stournaras realized that it was the employees and pensioners bearing the load of over taxation and coming up for the obligations of the debt-ridden country. “It’s time for the rich to pay,” …
Read More »
April 25, 2014
Economy, Uncategorized
Greece got a plan. A growth and development plan with the futuristic title “Greece 2021”, that is seven years from now. The plan was submitted by Finance Minister Yiannis Stournaras to Euro Working Group on Thursday in Brussels in the context with the Greek debt relief request. Here is to …
Read More »
