ECONOMY

BoG governor: uncertainty poses biggest risk to economy, sacrifices of Greeks being lost

Bank of Greece Governor Yannis Stournaras said on Friday that uncertainty posed the biggest risk to derailing the Greek economy and to the sacrifices made by the Greek people in previous years being lost, stressing the need for fiscal balance and competitiveness to be restored.

In comments at as seminar organized by the central bank on the issue of real estate, Stournaras also referred to the need to accelerate privatizations to raise much-needed revenue, mentioning the projects relating to the selloff of regional airports and the old Athens airport plot at Elliniko, southern Athens. Moving forward with these projects would immediately give a positive message to international investors and markets, he said.

As regards the problematic loans burdening Greek banks, Stournaras said the creation of special purpose companies to manage them would require funding from sources beyond that of the banks’ themselves and the state budget.