BoG Governor: Greek Banking System has Turned Page



giannis-stournarasIn a statement to “Efimerida ton Syntakton” newspaper, Bank of Greece (BoG) Governor Yannis Stournaras said that “today, the Greek banks are based on more solid foundations in comparison with the recent past because they have substantially strengthened their capital position, as shown in the European Central Bank‘s (ECB) evaluation, in order to contribute to restructuring the Greek economy.”

Stournaras noted that “the Greek banking system has turned page. A few days before the assumption of the four systemic banks’ supervision by ECB’s Supervisory Mechanism on November 4, the four largest Greek banks faced the important challenge of ECB’s stress tests. This allows them to now focus their efforts on the support of the real economy with the financing of enterprises and households, and face the problem of non-performing loans.”

In another statement to “Imerissia” newspaper, Stournaras noted: “At this moment, we are before a paradox. The fundamental figures move smoothly while markets are in turbulence. In my opinion, the most important explanation for this fact has to do with the prevailing uncertainty on whether Greece will continue the economic policy that contributed to the creation of primary surpluses and towards upgrading its competitiveness.”

(source: ana-mpa)


1 COMMENT

  1. More platitudes from Yannis? Have we turned the corner or seen the light at the end of the tunnel? Does he think we are that stupid or is he so totally disconnected from reality he blathers such nonsense thinking we believe him?

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