January 27, 1955

MANTZAVINOS OUSTED: The coordination minister, Mr Panayiotis Papaligouras, announced last night the government’s decision to have a new board elected at the Bank of Greece so as to ensure the foundation’s harmonious cooperation with the government. For that purpose Mr Papaligouras, together with Finance Minister Mr Lambros Evtaxias, tabled a bill in Parliament yesterday ending the term of the governor of the Bank of Greece, Mr G. Mantzavinos, and the deputy governor, Mr S. Grigoriou, and abolishing the position of general director, held by Mr P. Mavrikis. Their successors are Messrs Xenophon Zolotas, professor at Athens University, member of the Athens Academy and the Monetary Committee, as governor, and Vassileios Kyriakopoulos, former senior official at the National Bank of Greece, as deputy governor. ADMINISTRATIVE DECENTRALIZATION: The prime minister, Field Marshal Alexandros Papagos, issued the following message yesterday to the Greek people: «By means of the decentralization process, which has already been instituted to a great extent, most ministerial powers will be exercised by the prefects of each regional prefecture (…).»