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Statement by Bank of Greece Governor George A. Provopoulos to the Financial Times

09/11/2011 - Press Releases

I consider it imperative that a new government is formed immediately and that the new government and the major political parties commit to the full implementation of the agreement of the Heads of State of October 27 and the measures underpinning that agreement. During the past two years, the Greek banking system has shown its resilience in withstanding the spillover effects resulting from the uncertainty created by the sovereign crisis. More recently, political uncertainty has added to the stress facing the economy and the banking system. Any delay in forming a new government threatens to damage further the country’s credibility. To safeguard financial stability in this very-challenging environment, it is essential that a strong coalition government pursues the necessary policies that will ensure Greece’s future within the euro area.

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