Bank of Greece

Central banker Yannis Stournaras voiced his optimism that the economy will recover in 2021, stressing that this crisis is not as big as the previous one.

The Bank of Greece's baseline scenario has moved closer toward its adverse one, according to the intermediary monetary policy report its Governor Yannis Stournaras tabled in Parliament on Monday, providing for an economic contraction of 10% this year.

Bank of Greece Governor Yannis Stournaras reiterated on Tuesday that the country's public debt remains sustainable until at least 2030, despite its increase as a ratio to the gross domestic product.

The Greek government has proposed the reappointment of Yannis Stournaras as governor of the Bank of Greece, the country's central bank, a government spokesman said on Tuesday.

Bank of Greece Governor Yannis Stournaras will be participating in a public online debate on Tuesday on a recent decision by Germany's top administrative court on the European Central Bank's bond-buying scheme.

The Greek economy will shrink much less than "extreme" scenarios projecting a 10 percent or more contraction in gross domestic product (GDP) this year, the head of the country's central bank said on Tuesday.

As the end of the lockdown is already in sight in Greece the day after the coronavirus outbreak is already stirring extreme concern in the government, among financial players and analysts, and not least in the Bank of Greece with the governor of the central bank, Yannis Stournaras, scampering to come up with 10bn euros to bolster the Greek banking system and avert yet another bank crisis.

Bank of Greece Governor Yannis Stournaras on Wednesday spoke openly on Bloomberg in favor of a so-called "corona bond," warning that unless joint fiscal action is taken Europe will face a new debt crisis.

The Bank of Greece's baseline scenario for 2020 is zero growth, compared with its previous estimate for 2.4 percent, according to a report released by Governor Yannis Stournaras on Friday.

After eight months in power the government finds itself in a rough patch as it must grapple with a variety of intractable issues at once.

It must wage battles on a number of fronts in an unstable international environment with constant vicissitudes and with the main opposition party on the attack on various important issues.