ECONOMY

Bank of Greece governor Stournaras urges completion of bailout review

bank-of-greece-governor-stournaras-urges-completion-of-bailout-review

Wrapping up the first review of the bailout program is key to restoring confidence in the Greek economy, Bank of Greece governor Yannis Stournaras said Wednesday.

“The first review must be completed as soon as possible. This will strengthen confidence and encourage the return of deposits,” Stournaras told MPs during a parliamentary committee meeting.

The central banker predicted that the Greek economy will recover in the second half of the year, admitting however that the forecast was subject to risks.

“We have to avoid the mistakes of the past which only led to dead-ends. Every hour that bailout review gets delayed, sentiment gets worse” he said.