x

Society

Bank of Greece Gov. Stournaras Unafraid of Terror Attacks

January 17, 2018

ATHENS – Feuding with the ruling Radical Left SYRIZA-led Administration, Bank of Greece Governor Yannis Stournaras said he’s not scared of terror attacks and that the institution won’t veer from its independent role of economic oversight.

“During its long history, the Bank of Greece has become a target, in several instances, of special interests who want to undermine its institutional role in order to benefit policies that contradict the basic principles of its founding charter,” Stournaras said at the bank’s annual cutting of the New Year cake.

“Unfortunately, we were targeted by such attacks this past year, culminating in the terrorist attack against former Bank of Greece Governor Lucas Papademos,” Stournaras said.

Papademos, who also served as an Interim Prime Minister during a transitional period of governments from 2011-12, was the target of a parcel bomb in his car that injured him but Stournaras said it wouldn’t deter him as the current bank leader, media reports said.

“Such tactics do not intimidate us as, apart from anything else, they confirm that we are on the right track, as opposed to all those who insist on overlooking institutions, intervening in their operations, questioning their usefulness or rejecting their institutional decisions and the repercussions resulting from not complying with these,” he said.

With Prime Minister Alexis Tsipras upset that  Stournaras said Greece may need continued oversight and a cautionary program when three international bailouts of 326 billion euros ($398.82 billion) end in August, the bank leader said it was his duty to speak out.

Tsipras said he’s bringing Greece to recovery – without mentioning that if that happens it’s because he reneged on anti-austerity promises and that he’s seeking debt relief – and that there will be a “clean exit” from the rescue packages from the Quartet of the European Union-International Monetary Fund-European Central Bank-European Stability Mechanism (EU-IMF-ECB-ESM).

Stournaras, a former think tank leader and finance minister for the previous coalition led by the New Democracy Conservatives and its partner, the former PASOK Socialists, said the central bank’s mission requires he provide economic warnings he sees as warranted.

He is free from political meddling as the bank has an independent role and can’t be touched even by Prime Ministers.

Stournaras said Greece’s central bank has often been the target of “vested interests” that aim to weaken its institutional role to the benefit of policies “opposed to the basic principles of its charter,” and that he’s undaunted.

RELATED

ATHENS — A Greek helicopter pilot was sentenced to life in prison Monday for killing his British-Greek wife in their home on the outskirts of Athens and trying to mislead police for weeks by claiming she was killed by intruders in a brutal house invasion.

Top Stories

General News

FALMOUTH, MA – The police in Falmouth have identified the victim in an accident involving a car plunging into the ocean on February 20, NBC10 Boston reported.

General News

NEW YORK – Meropi Kyriacou, the new Principal of The Cathedral School in Manhattan, was honored as The National Herald’s Educator of the Year.

General News

PHILADELPHIA – The Federation of Hellenic Societies of Philadelphia and Greater Delaware Valley announced that the Evzones, the Presidential Guard of Greece will be participating in the Philadelphia Greek Independence Day Parade on March 20.

Video

Mitsotakis Meets with Biden at the White House (Video)

WASHINGTON, DC – Greek Prime Minister Kyriakos Mitsotakis met with US President Joe Biden at the White House on Monday, in the first day of an official two-day visit to the American capital.

Enter your email address to subscribe

Provide your email address to subscribe. For e.g. abc@xyz.com

You may unsubscribe at any time using the link in our newsletter.