Central bank independence

The independence of the Bank of Greece is crucial. For the last two years it has been under attack from those who resist transparency and strict governance and long for the days when the political establishment ruled the banking system.

It is clear that there are elements within the government who would like to see the autonomy of the institution lessened and another political operative as its head. They are adopting the same methods that were used to rein in the Hellenic Statistical Authority. If they succeed, it will be a serious setback for Greece.