NEWS

Ex-PM says Draghi played crucial role in saving Greek banks

YANNIS PALAIOLOGOS

TAGS: Banking

Former caretaker prime minister Lucas Papademos extolled the crucial role played by the outgoing President of the European Central Bank (ECB), Mario Draghi, in shoring up Greece's lenders during the economic crisis, at an event in Athens to honor the central banker.

Draghi “contributed constructively and decisively" to resolving Greek bank recapitalization and debt restructuring problems, Papademos said in his speech. "I know first hand" how much he helped, he added.

Papademos also described Draghi's expansionary monetary policy as “radical,” noting it stabilized the european economy. 

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