The government guarantees political, economic and fiscal stability, Tzanakopoulos says

The government and the finance ministry guarantee political, economic and fiscal stability in the best possible way and would like to ask (central banker Yannis) Stournaras to do the same,” government spokesman Dimitris Tzanakopoulos said on Monday in an interview with Real FM.

The banks are fully protected and any fluctuations on the stock market do not affect their capital adequacy, he said, noting that the high volatility of the Greek stock market was a result of its low turnover.

Regarding the bad loans in bank portfolios, he said that the banks have exceeded the targets for their reduction. However, he noted, this good work must continue and the government was there to guarantee this great effort.

There is absolutely no risk for Greece from developments in Italy, Tzanakopoulos added, pointing out that Greece has its financing requirements covered for at least the next two years. Moreover, it is in no rush to tap the markets and, consequently, the Greek bonds – the ten-year bond, the seven-year bond, and especially the five-year bond – are moving at absolutely sustainable levels, so there is no cause for concern, he said.