In his speech to the 6th Endless Summer Conference on Financial Intermediation and Corporate Finance, Bank of Greece Governor Yannis Stournaras stated that the challenge for the period ahead is to ensure that inflation continues to fall in the coming period and that it reaches our target in time.

"New (and old) dangers", he said, "are ahead of us. Geopolitical upheavals are radically changing the environment in which financial intermediaries operate," he said, adding "Also, technological developments and new risks stemming from climate change are putting their existing business models to the test."

"At the same time, corporate finance continues to evolve, adapting to new trends such as the integration of environmental, social and governance-related (ESG) criteria into investment decisions."

He added that the nature of the risks we face is unusual. Increasingly, two major structural factors will increasingly act and drive volatility in growth and inflation rates: geopolitical fragmentation and climate change. These risks, of which we have little experience, are particularly difficult to quantify and predict. They pose an unprecedented challenge for central banks - a challenge that also requires a different response.