Bank of Greece governor Yannis Stournaras on Wednesday expressed his optimism over the ability of the Greek economy to return to growth this year.
He presented the bank’s interim report on Monetary Policy for 2015 to the Parliament’s Economic Affairs Commission on Wednesday and noted that a swift completion of the review will contribute to improve a climate of confidence, resulting to a gradual return of deposits, cheaper funding of financial institutions and accelerating procedures for loosening capital controls in the country.
“All these will bring the Greek economy back to normality, offering more favorable conditions of funding the economy and strengthening its course towards growth,” Stournaras said, and stressed the need for political stability and social consensus.
“Every hour that we fail to complete the review weighs on confidence,” Stournaras told the Greek parliament’s economic affairs committee. “It (completion) should have been done before the end of last year.”
The central banker said that the distance needed to be covered to exit the crisis was relatively small. “We must avoid at any cost a new setback, a new vicious cycle,” Stournaras said, while he underlined the dangers to the economy from any possible negative developments in the migration issue.
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