"As a central banker, I would say that the road ahead is ahead. Greece should not back down. The government has three years without elections ahead of it."

In the context of the 1st International Conference of TMEDE, the Governor of the Bank of Greece (BoG), Mr. Yannis Stournaras, emphasized this in relation to the atmosphere that has developed in the domestic political scene in the wake of the European elections.

On the investment mix, the BoE governor commented that the country is still recovering from the crisis. "Bless the memoranda, and I have the courage to say so. The theory that Greece is only for tourism and shipping is not valid," he said.

CLIMATE CHANGE

Regarding climate change, Stournaras said it is the biggest enemy of the planet and humanity. "It is insidious; it is moving under the radar, and instead of coordinating, we think the other guy will do it," he explained, stressing the need for targeted policies. "Consensus will be gained, but I hope this will not happen after several climate crises," he added.

According to the central banker, a prerequisite to tackling the climate crisis is to provide "cushions,"  fiscally, to banks for provisions and so on. "The best bank in Greece today is the Cooperative Bank of Karditsa. Without Hercules and exclusively with its own resources, it has funds, supporting the farmers of Thessaly after Daniel," he said.

Asked if climate change affects inflation, he replied positively, as it is a supply-side shock.