Government proposes extending central bank governor Stournaras’ term

Government proposes extending central bank governor Stournaras’ term

The Greek government has proposed the reappointment of Yannis Stournaras as governor of the Bank of Greece, the country’s central bank, a government spokesman said on Tuesday.

Stournaras represents Greece on the Governing Council of the European Central Bank. He was first appointed in 2014 for a six-year period, the duration of a governor’s term in Greece, and is a former Greek finance minister. He also heads the European Central Bank’s audit committee, succeeding Ewald Nowotny earlier this year.

Stournaras, a professor of economics at the University of Athens, has been a member of the ECB’s audit committee since September 2018.

A well-respected economist, Stournaras spearheaded Greece’s return to economic stability as finance minister in 2012-2014 after the country nearly crashed out of the euro zone.

His reappointment by Prime Minister Kyriakos Mitsotakis had been widely expected. [Reuters]

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