BoG: End of tighter monetary policy nearing

BoG: End of tighter monetary policy nearing

The eurozone is near the end of the tighter monetary policy cycle, Bank of Greece Governor Yannis Stournaras said on Wednesday.

Addressing a conference organized by the Federation of Insurance Companies of Greece, the central banker said Greece was also close to obtaining investment grade.

“The Greek economy and Greek banks lived through a big crisis, three memorandums, and this has benefited us,” Stournaras said, adding that Greek banks have satisfactory liquidity.

The central banker said insurance companies can play a double role in moderating and adjusting climate change as risk managers and investors directing their money to actions contributing to climate policies.

Stournaras said that the coronavirus pandemic and recent natural disasters highlighted beyond any doubt Greek consumers’ low level of private insurance.

He said he would welcome the introduction of incentives aimed at facilitating the growth of insurance business in Greece.

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