Govermnent sources Bank of Greece criticise report

Government sources on Thursday criticised the recommendation by Bank of Greece (BoG) governor Yannis Stournaras that Greece should participate in a “precautionary support program” after the end of the current program, citing his term as finance minister and asserting this government would do much better.

“Just because a then-unsuccessful finance minister and an unsuccessful government had set their sight on a support program as the best possible outcome – instead of focusing on access to the markets under favorable interest rates – does not mean that a successful government will not do a much better job,” government sources said, adding “All indications are already proof of this.”

Stournaras was finance minister from 2012 to 2014 in the government of Antonis Samaras.

The Interim Report on Monetary Policy 2017 lowered its growth forecasts for the Greek economy.