Stournaras blasts 'unsatisfactory' institutions, 'fortresses' against excellence

Bank of Greece Governor Yannis Stournaras identified the unsatisfactory operation of institutions as the main obstacle to the country's economic recovery.

Speaking at an interview on Monday he also stressed the significance of education and the need to highlight excellence and assessment, while referring to "fortresses" that want the country to remain stagnant.

"Our institutions are lagging. Greeks perform miracles abroad because the institutions there help them. There is of course major progress [in Greece] but there still exist some fortresses against excellence," Stournaras stated.