BUSINESS

Stournaras: Greece weighed down by dysfunctional institutions

TAGS: Society, Politics

Despite signs of improvement, society in Greece is weighed down by dysfunctional institutions which undermine excellence, Bank of Greece governor Yannis Stournaras has said.

“There are people who do not want an independent judiciary. There are people who are against [performance] evaluation in university institutions. There are people who are afraid of competition. There are people who are in favor of closed-shop professions,” Stournaras said in an interview with Kyriacos Sabatakakis, country managing director at Accenture Greece.

“Our institutions are lagging behind. Greeks who are living abroad are excelling because they are supported by institutions,” Stournaras said.

“Of course, great progress has been made. But there are still barriers against excellence,” he said.

Online