Nine years after the 2015 referendum, Yannis Stournaras, Governor of the Bank of Greece since 2014, spoke on ERT's First Programme about the crisis period, the referendum, the current economic situation of the country, and his future assessments.
In fact, the Governor of the Central Bank of Greece stressed that "we have fully returned to normality.". "The banks are healthy. So, today we are in a banking system that is not only standing on its own two feet but also has very high returns. But we want it to become more competitive. But we also want it to be more attentive to small and medium-sized entrepreneurs, for example. That is why we attach great importance to developing the smaller banks, especially the cooperative banks in the province. There are currently diamonds in the countryside and cooperative banks that are very good. We need to strengthen these so that they can play their role," he further said.
At the same time, he assured me that he was not worried about the possibility of the current normalcy being overturned. "We have gone through a major crisis. We have learned, I believe. People have matured. I think the triptych of political stability, fiscal stability, and financial stability is a prerequisite for Greece to move forward. We must never go back to the policies of the past that brought us to the great crisis," he stressed.
For there to be a stable economy, there must be political stability, Mr. Stournaras said. We need changes, so there must be governments with support from legislatures that can pass laws. Climate change is an adaptation. So political stability is a precondition for economic stability. You cannot see countries with economic stability without political stability," the Governor of the Bank of Greece concluded.