Yannis Stournaras has been sworn in for a third six-year term as governor of the Bank of Greece, making him the country’s longest-serving central bank chief since the restoration of democracy in 1974.
By the time his new term ends in 2032, Stournaras will have spent 18 years leading Greece’s central bank. The third term will also make him one of the longest-serving members of the European Central Bank’s Governing Council.
Stournaras took the oath on Wednesday before Greek President Konstantinos Tassoulas in the presence of Finance Minister Kyriakos Pierrakakis, who also serves as president of the Eurogroup.
Stournaras, 69, 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 Eurozone. A professor of economics at the University of Athens, he has been a member of the ECB’s audit committee since September 2018.
Stournaras: An advocate of fiscal discipline
He has overseen monetary and financial policy during the country’s recovery from the decade-long economic crisis and has consistently advocated fiscal discipline, financial stability and structural reforms.
“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 said when PM Kyriakos Mitsotakis proposed a third term in April.
Following the ceremony, Stournaras said he would remain focused on the central bank’s core mission of maintaining price stability and safeguarding Greece’s financial system.
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