The need to support the European Central Bank in its effort to tackle high deficits and debt crisis in the Eurozone, noted the President of the Republic, Prokopis Pavlopoulos at a meeting held Thursday at noon with the Governor of the Bank of Greece, Yannis Stournaras.
The two men discussed the ECB’s role as a stabilising factor for the monetary policy as well as a supervisor of systemic banks.
“Monetary policy plays a major part for stability in the Eurozone today” said Mr. Stournaras, adding that “developments in Greece are more positive than it were a while ago and we have proof to support this.”
The Governor of the Bank of Greece briefed president Pavlopoulos on the situation of Greek banks and the positive signs in terms of their liquidity.
He noted that fiscal adjustment is not enough. Reforms need to be implemented forthwith.