BoG Governor Stournaras: The crisis of recent days is becoming serious

Bank of Greece governor Yannis Stournaras called on deputies to consider their decision carefully at the parliamentary elections for Greek president, in statements delivered during an event in Athens on Monday honouring the 110th anniversary of the birth of Xenophon Zolotas, former BoG governor and interim prime minister.

In his statements, Stournaras said that “the crisis of recent days is becoming serious” and that “liquidity in the market is being reduced at a great rate, and the danger of breaking the growth trajectory that just began and of an irrevocable harm to the Greek economy is great.”

Referring to his previous post as minister of finance, Stournaras said that he was well aware of the tremendous weight that Greek deputies had to shoulder in terms of the legislative adaptation to new conditions in Greece. “From personally knowing each one [of the deputies] and from the great support they provided me with in Parliament in the past, I would like to take the next step of asking them to take into consideration this great and immediate danger in their decisions,” he said, of the political threat to the economy.

The former minister also called on political parties that believed Greece would prosper only by remaining a member of the eurozone and the EU to collaborate and ensure that “the few remaining reforms move ahead in a way that does not allow backtracking, both in fiscal security and economic growth.”

“This way they will disarm conclusively and irrevocably those unrepentant entities that never gave up on the idea of using Greece either as a scapegoat or as Iphigeneia [a sacrificial victim] in order to make an example of it among the eurozone periphery’s member-states,” he stressed.