Yannis Stournaras

The standoff between the leftist SYRIZA party and the governor of the Bank of Greece dates back to the very day that Yannis Stournaras was appointed finance minister under the coalition government of New Democracy's Antonis Samaras and PASOK's Evangelos Venizelos, on July 5, 2012.

Economic growth will be the key that will help strengthen social cohesion, Bank of Greece Governor Yannis Stournaras told the Delphi Economic Forum Sunday.

Stournaras reiterated that Greece must persist with reforms, market opening, new technologies, education and its linking with the job market and, above all, must never return to the failed policies of the past.

Bank of Greece Governor Yannis Stournaras today told Athens lower court prosecutor Haralambos Mastrantonakis that he is convinced that Alternate Health Minister Pavlos Polakis surreptiously recorded their conversation when Polakis called him following reports that the Bank of Greece was probing a 100,000 euro loan that the minister was given by Attica Bank.

Yesterday's meeting between Finance Minister Euclid Tsakalotos and Bank of Greece Governor Yannis Stournaras just two days before the European Commission's report on the Greek economy reveals the government's concern over the problems that lie ahead, the most important of which is the looming problem of  non-performing loans (NPLs) that has burdened the banks and the economy in general.

Prime Minister Alexis Tsipras sought on Wednesday to shift attention from a mini political crisis involving Alternate Health Minister Pavlos Polakis, who is being investigated after reportedly recording and leaking a conversation with Bank of Greece Governor Yannis Stournaras.

SYRIZA's unofficial "general prosecutor", who was threatening everyone and everything when it was announced that a prosecutor had ordered an inquiry into who recorded and leaked his conversation with Bank of Greece Governor Yannis Stournaras, suddenly hastened to belie himself.

Reports on Tuesday that Alternate Health Minister Pavlos Polakis taped a conversation with Bank of Greece Governor Yannis Stournaras further poisoned the political atmosphere amid increasing speculation about a snap election. 

Reports on Tuesday that Alternate Health Minister Pavlos Polakis taped a conversation with Bank of Greece Governor Yannis Stournaras further poisoned the political atmosphere amid increasing speculation about a snap election. 

Last-minute profit taking during Tuesday's closing auctions at the Athens Exchange (ATHEX) inflicted minor losses on the benchmark after wiping out all of its earlier gains. However, the blue chip and banks indexes remained in positive territory, primarily thanks to Piraeus Bank's gains on the day.

The prime minister's office on Tuesday responded to the alleged taping of central banker Yannis Stournaras by Alternate Minister Pavlos Polakis, saying it has always respected the independence of the Bank of Greece "even when its governor has expressed different views on crucial issues of economic policy."