“Great progress in revenue is creating fiscal space and the Commission gives OK a place to redistribute citizens. Ten points a year we reduce the debtthis is the most important success, “the Governor of the Bank of Greece (BoG) said today (22.9.2025), Giannis Stournaras Speaking on SKAI radio.
Yiannis Stournaras also made it clear that there is no chance of being in the spectrum of new bankruptcy if the country continues in this model. “If the debt is re -raised with checks to the people the prime minister, we will find ourselves where we were in 2010. The redistribution of income tax proves more effective in the pocket of each household than any VAT reduction.”
For the reduced investment The central banker argued that “when investments are lagging behind, it means that productivity is lagging behind, there is a sequence. Due to the crisis we have fallen very low in the level of purchasing power. We are now slowly converging with the European average, at a rate of 1.5%. If we increase the salary of 30% tomorrow, we will go bankrupt. I mean, you can’t increase wages in a country unless you first increase productivity. Productivity means reforms and investment, making the economy more flexible. Greece has a 60% increase in investment since 2019, with 4/5 of them today productive. “
To minimum wageMr. Stournaras said that in all states he also has elements of state intervention. “If that wasn’t true, it might have been lower than today. It does not mean that the state determines all salaries, it is another thing the minimum and another average salary, “adding that” unfortunately there is no money. In order to be able to give wage increases, there must be productivity response. If there is no response, businesses will be closed, unemployment will increase, as it used to be. We went through this phase as Greece. We have given great increases in wages and pensions in the past, with this period we have the worst combination: lower growth than the rest of Europe and higher inflation. Today we are going much better. “
Finally, for the competition conditions in the banking industry He emphasized that “he is starting to be satisfied with the creation of an ecosystem of smaller banks that we call” 5th pole “. It’s not just Credia Bank, but it’s Optima, it’s also Viva, it’s ABB, it’s also cooperative. I have said many times that in my opinion the most successful bank in the country is the Bank of Karditsa, because without any help from the state it was able and developed and saved the world from Daniel, giving loans. We made the 5th pole with great difficulty and reactions. Competition is what I want to do in the Greek economy. “