Yannis Stournaras

Bank of Greece Governor Yannis Stournaras has told Kathimerini he expects the European Central Bank to start reducing interest rates this summer, as inflation is easing much faster than expected.

Greece's return to investment grade in 2023 signals a return to normalcy and marks the start of a new effort to raise the prosperity level of the Greek people, Bank of Greece Governor Yannis Stournaras said on Monday at a bank event.

The European Central Bank's Supervisory Board (SSM) Chair Claudia Buch acknowledged the progress made by the Greek banking sector during her two-day visit along with Single Resolution Board Chair Dominique Laboureix to Athens.

The chairs of the Single Resolution Board (SRB) Dominique Laboureix and the Supervisory Board of the European Central Bank (SSM) Claudia Buch are in Athens on a two-day visit on Thursday and Friday.

The heads of the two European institutions met on Thursday with Bank of Greece Governor Yannis Stournaras and top executives of the BoG.

Addressing the phenomena of "profit inflation" and tax evasion, as well as the acceleration of the absorption of European resources and of course the reduction of public debt, are matters at the forefront of Bank of Greece Governor Yannis Stournaras' policy proposals in the Interim Monetary Policy Report he presented on Wednesday.

Migrants are essential to filling the labor and skills gap in the domestic labor market, the governor of the Bank of Greece Yannis Stournaras has said.

Speaking at the 2nd MD Forum in Athens, Stournaras noted that Greece faces significant labor shortages in key sectors of the economy, such as tourism, agricultural production, industry and construction, and many jobs remain vacant.

The European Central Bank must see inflation stably below 3% by the middle of next year before beginning to lower borrowing costs from record highs, ECB policymaker Yannis Stournaras told Reuters on Monday.

In nine years, when Greece enters 2033, it will be faced with a problem going back to its bailout past: The public debt will suddenly be burdened with an extra 25 billion euros, or 8% of the then GDP, as the interest on loans from 2013, which has been frozen for almost two decades as part of debt relief arrangements with its European lenders, will be added to it.

Τhe cost of climate change for Greece by the end of the century is estimated at 2.2 billion euros per year, or about 1% of gross domestic product at current values, according to a report by the Bank of Greece and its governor Yannis Stournaras on the environmental, economic and social impacts in Greece.

Bank of Greece Governor Yannis Stournaras on Wednesday reiterated his call to the government to review the tax exemptions not only to increase tax revenues, but also to apply them with fair criteria to those who really need them.