Greece on Wednesday proposed renewing the term of central bank Governor Yannis Stournaras, extending his 12 years in the role, a government spokesman said in a statement.
Stournaras would be the first Greek central banker to serve three consecutive terms.
The 70-year-old, who also represents Greece on the Governing Council of the European Central Bank, has held the post since 2014. His six-year term is due to expire later this year after it was renewed in 2020.
Stournaras, a well-respected economist, spearheaded Greece’s return to economic stability as finance minister from 2012 to 2014 after the country nearly crashed out of the euro zone. A professor of economics at the University of Athens, he has been a member of the ECB’s audit committee since September 2018.
Stournaras: Great honor
“The proposal of the Prime Minister and the government for my third consecutive term constitutes the greatest honor for me,” Stournaras said in a press release.
“I wish to provide my assurance that I will remain committed to the core mission of this significant institution – which in 2028 completes one hundred years of service, having played a primary and constructive role in economic developments – namely, the safeguarding of monetary stability and the soundness of the financial system, thereby contributing to the growth of the Greek economy for the benefit of the country and its citizens,” he added.
In accordance with the provisions of the Statute of the Bank of Greece, the Bank’s General Council will convene in the coming days to formulate its recommendation to the Cabinet.
Related: Greece’s Shadow Economy: €50 Billion Escaping the Tax Net
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