Bank of Greece Governor Stournaras Proposes Abolishment of Capital Controls

Yiannis Stournaras, the Governor of the Bank of Greece

Υiannis Stournaras, the Governor of the Bank of Greece, revealed on Friday that he proposed to the new Prime Minister, Kyriakos Mitsotakis, the complete abolishment of capital controls in Greece.

After his meeting with the PM at Maximos Mansion, Stournaras told reporters that the abolishment will be proposed to come into effect ”as soon as possible”.

The Governor also said that the new government will choose ”the best solution” to solve the issue of non-performing loans and noted that the country needs more fiscal space to implement reforms and to bring higher rates of growth to the Greek economy, compared to what the country has seen so far.

Stournaras made an indirect comment about his bad relations with the former SYRIZA government, saying that ”this is the first time I have come to Maximos Mansion in three years”.

Stournaras has also served as the finance minister of Greece during the coalition government of Antonis Samaras between 2012 and 2014.