The Bank of Greece is an independent institution and a key link connecting the country with the euro area.
Central bankers traditionally have the inalienable right to criticize the economic policy followed by the government of the time. In fact, they are expected to do so by virtue of their institutional role.
The frequent attacks by officials of Greece’s leftist-led government against the current governor of the Bank of Greece, Yannis Stournaras, are unjustified and resemble s witch hunt aimed at domestic consumption. At the same time, these attacks are damaging the country’s international image as they suggest that the domestic political system has no respect for fundamental European institutions.
Those who think it would make sense to remove Greece’s central banker should ponder the consequences that this would entail for the country’s interests.