Stournaras spoke to reporters after attending a closely watched ECB general council meeting in Frankfurt, noting that Europe is facing tremendous uncertainty at present, with no one in position to know when the crisis will end and what its repercussions will be.
Stournaras said it was heartening, however, that more “calm-headed views” won the day over Euro zone “hawks”, who favored increasing interest rates on the euro currency, “as everyone knows that such a decision would place yet another obstacle on the European economy’s path towards recovery, amid an ongoing war and after suffering from the pandemic”.
The inflation rate in the Euro zone soared to more than 5 percent last month; 7.2 percent for Greece.
In contrast to much more optimistic forecasts by the Greek government’s ministers, Stournaras has publicly warned that the economy is entering a cycle of lower growth and higher inflation.
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S&P Raises Greece Outlook to ‘Positive’; Rating Unchanged
The same international ratings agency in October 2023 raised the country’s creditworthiness to BBB- with a stable outlook
Number of Turkish Visitors to Greek Islands up 10-Fold After 7-Day Express Visa
More than 20,000 Turkish tourists flocked to the eastern Aegean isles during a nine-day religious period in the neighboring country
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These beaches, numbering 198 across the country, fall within the Natura 2000 network and will be off-limits for concession and, by extension, for the placement of umbrellas, sunbeds, etc.
BoG: Feb. Current Account Deficit up by 1.8bln
At current prices, exports dropped by 10.3% (‑10.7% at constant prices) and imports grew by 5.7% (9.4% at constant prices).
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The government's policies to attract foreign property buyers to boot the economy is working, reports German newspaper Handelsblatt
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An Iranian official said explosions reported by Iran's media were the result of the activation of the country's air defense system, yet media reports attribute them to a drone attack by Israel
Poll: Greeks, EU Citizens Eager to Vote in European Elections
EU citizens are eager to vote in the upcoming elections for the European Parliament in June, with eight in 10 saying the current geopolitical situation makes voting imperative
Mitsotakis-Erdogan Meeting in Ankara Fixed for May 13
The Greek PM himself made the announcement from Brussels on Thursday, while he also responded to a question on Athens' intent to create a marine park in the central Aegean, an environmental initiative
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Reuters: Greek Economy Surges After Decade of Pain
Nevertheless, the article also highlights some of the challenges facing the country, with a falling birthrate and labor shortages posing a threat to the long-term outlook
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