Yannis Stournaras, Greece’s former finance minister, will become the next governor of the Bank of Greece, replacing George Provopoulos who presided over the stability of country’s financial system during its debt crisis.
Greek lenders’ success last month in raising funds from foreign investors shows the government can reach its goal of returning to bond markets, said George Provopoulos, the country’s central-bank chief.
European Central Bank Governing Council member George Provopoulos said a “normalization” on financial markets suggests the ECB might never need to activate its Outright Monetary Transactions bond-buying plan.
Greece doesn’t need to restructure its debt provided the country sticks closely to targets to reduce its deficit, Greek Central Bank Governor George Provopoulos said in an interview with Kathimerini newspaper.
The Greek government needs to make a “groundbreaking” effort to reduce its deficit and debt and implement deeper spending cuts this year to “favorably” surprise markets and overcome a lingering “credibility deficit,” Greek Central Bank Governor George Provopoulos said.