Bank of Greece

Greece's former Finance Minister Yannis Stournaras is set to become the country's new central bank governor for the next six years, the Bank of Greece said in a statement on Wednesday.

SYRIZA leader Alexis Tsipras met European Central Bank President Mario Draghi on Tuesday in Frankfurt where they discussed the Greek opposition party’s view on how the country’s debt could be made sustainable and its objections to the appointment of outgoing Finance Minister Yannis Stournaras as the next governor of the Bank of Greece.

 Rehn praises Hardouvelis’s appointment as senior euro officials express ‘relief’

The appointment of Gikas Hardouvelis, a non-partisan technocrat, at the helm of the Finance Ministry as part of the major shake-up of the Greek Cabinet on Monday was Tuesday welcomed by the European Union’s economy chief and other senior officials in Brussels.

Prime Minister Antonis Samaras described his new cabinet of 45 ministers and deputy ministers as one that would be able to “plan for Greece’s future” after the group of ministers were sworn in and held their first meeting.

SYRIZA leader Alexis Tsipras is due to meet European Central Bank president Mario Draghi in Frankfurt on Tuesday afternoon.

The coalition is seeking to put the controversial departure of tax chief Haris Theoharis behind it as it moves into the final straight before a cabinet reshuffle that is expected to take place on Monday.

A reshuffle of the Greek government is expected to be concluded on Wednesday amid continued speculation over who will replace Finance Minister Yannis Stournaras in one of the crisis-hit country's most crucial posts, according to sources cited by Skai on Tuesday.

Government officials continued discussions on a pending cabinet reshuffle on Monday with all signs pointing to Finance Minister Yannis Stournaras leaving his post to go to the Bank of Greece though it remained unclear who would replace him.

Fitch Ratings on Friday announced it has placed National Bank of Greece’s mortgage-covered bonds’ B+ rating on Rating Watch Positive, following the upgrade of Greece’s sovereign long-term rating to B, from B- a week earlier.

Prime Minister Antonis Samaras pledged on Wednesday to unveil a plan later this year to reduce a range of taxes if Greece is able to meet its fiscal targets.