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Athens News Agency: News in English, 11-01-27

Athens News Agency: News in English Directory - Previous Article - Next Article

From: The Athens News Agency at <>


  • [01] President briefed by BoG chief 

  • [01] President briefed by BoG chief

    The resolution of long-standing weaknesses and problems is a condition for the much-needed growth of the Greek economy, Bank of Greece governor George Provopoulos stressed on Thursday during a meeting with President of the Republic Karolos Papoulias.

    The central bank chief pointed out that "the more boldly and determinedly we act, the faster we will enter into development", adding that so long as those weaknesses exist "we cannot even imagine growth".

    Provopoulos noted that, during his recent meeting with the prime minister, he was pleased to ascertain that they shared the same views on what the prerequisites are and where the weight must be put to move ahead as quickly as possible.

    The President asked to be briefed on the condition of the Greek banks, with Provopoulos replying that they are facing major challenges after a tough year in 2010 due to the economic crisis.

    The BoG chief clarified, however, that in the case of Greece the banking sector has suffered from the state economic crisis, whereas in Ireland the banking sector created the problems for the government.

    "That is an additional reason why the issue of tackling the fiscal problem is an urgent one," he added.

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