Friday Jul 25, 2014 Search
Weather | Athens
32o C
23o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
As Stournaras is lined up, outgoing central banker warns Greece needs growth plan

Outgoing Bank of Greece Governor Giorgos Provopoulos speaks at the presentation of two new publications by the institution, in Athens on Wednesday.

Outgoing Bank of Greece Governor Giorgos Provopoulos warned Wednesday that the country cannot just rely on its adjustment program moving forward but needs to develop its own growth plan, as the central lender’s general council recommended that ex-Finance Minister Yannis Stournaras should take his place.

Provopoulos said that he had helped guide the Greek banking system to a “safe haven” during his time in charge but urged the country’s politicians to do more to help Greece out of the crisis.

“The adjustment programs are necessary but not sufficient,” he said. “There is a need for a comprehensive national plan for growth that will have long-term aims and which will be faithfully implemented.”

The outgoing banker also called for “the biggest possible consensus of politicians and social forces” over such a scheme. However, the potential for such a wide agreement looks bleak in the short term, especially as Stournaras’s appointment as Provopoulos’s successor has riled SYRIZA.

Opposition leader Alexis Tsipras described it Wednesday as a “provocative move by the government, which is disregarding the political balance of power and the need for consultation over such an important position.” Speaking to his party’s MPs, Tsipras again suggested that a SYRIZA administration might seek to replace Stournaras, who is due to serve a five-year term.

Provopoulos said Stournaras was “the best choice” for the role. “He is not just a theorist; he knows about banking issues better than anyone else,” said Provopoulos.

Stournaras’s appointment has to be rubber-stamped by the Cabinet and there is also the matter of appointing his deputy as the tenure of the official currently occupying the position, Eleni Dendrinou-Louri, also expires on June 20. It is expected that Anastasia Sakellariou, the CEO of the Hellenic Financial Stability Fund (HFSF), will take up the post.

Stournaras’s departure from the Finance Ministry, where he has been replaced by fellow economist Gikas Hardouvelis, will also lead to changes there. Professor Panos Tsakloglou, who was chairman of the Council of Economic Experts (CEE) and took part in the Euro Working Group (EWG) meetings, will depart from the ministry after taking in Wednesday’s EWG in Lisbon. Sources said that it is likely he will be replaced by Emmanouil Mamatzakis, who is a professor of finance at the University of Sussex and was a member of the CEE a few years ago. It is thought that Prime Minister Antonis Samaras has sought his advice in the past.

ekathimerini.com , Wednesday June 11, 2014 (20:45)  
MP steps in to get power back on at invalid’s home
Civil servants who changed contracts to undergo checks
Coalition hopes to avoid restoring armed forces wages in full
Italy adds to calls for FYROM name row to be solved
Trade deficit grows 9.5 pct in Jan-May
Greece’s trade deficit recorded a 9.5 percent increase in the January-May period this year compared with the first five months of 2013, data compiled by the Hellenic Statistical Authority (E...
Number of 5-star hotel rooms rises 31.4 percent in four years
The number of rooms at five-star hotels in Greece rose by 31.4 percent from 2009 to 2013, according to a survey conducted by the Research Institute for Tourism of the Hellenic Chamber of Hot...
Inside Business
SOCCER
Ranieri says he has little to change in Greek national team
The Hellenic Football Federation (EPO) presented Claudio Ranieri as the new Greece coach for the next couple of years, after the Italian manager signed his contract in Athens on Friday. “I l...
SOCCER
Olympiakos downs AC Milan 3-0 in friendly
Greek champion Olympiakos defeated Italy's AC Milan 3-0 late on Thursday in a friendly match that launched the International Champions Cup in Canada and the US. The result, with goals from A...
Inside Sports
TALK
What lessons can we draw from antiquity?
Our theme is limits. And we are gathered here at this limit of Europe, close the to sea: the limitless, the boundless. And we face all sorts of limits. There are the limits of knowledge – fa...
COMMENTARY
Forty years of shortsighted party policies
It is 40 years since the restoration of democracy, and the two main parties which were established in 1974 and determined the country’s fate since then are unable to act their age. For decad...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. Trade deficit grows 9.5 pct in Jan-May
2. Number of 5-star hotel rooms rises 31.4 percent in four years
3. Greeks get slightly less downbeat
4. Banks reluctant to issue credit
5. MP steps in to get power back on at invalid’s home
6. Civil servants who changed contracts to undergo checks
more news
Today
This Week
1. Greek coast guard picks up 77 migrants off Myconos
2. Draghi safety net becoming blindfold as bonds soar
3. Aegean Airlines resumes flights to Tel Aviv
4. Police report points to less crime in 2014
5. Thousands of dead fish surface in Lake Pamvotis
6. Godfather, 35, shot at Karditsa christening dies
Today
This Week
1. Greece seen in third bailout as bonds not enough, economists say
2. Climber dies in Mount Olympus fall
3. Greek sovereign debt at 174.1 percent of GDP in first quarter
4. Unequal after death
5. Greek banks able to tap investors after stress tests, HFSF Says
6. Hedge fund Dromeus turns Greek tragedy to triumph with 160 pct gain
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2014, H KAΘHMEPINH All Rights Reserved.