Bank of Greece (BoG) Governor Yannis Stournaras firmly ruled out any discussion regarding the reinstatement of the 13th and 14th salaries, speaking at the conference Ellada Meta VIII, co-organized by Kyklos Ideon (Circle of Ideas) -the Greek think tank- in partnership with the Delphi Economic Forum. The event focused on “Europe, Greece, and the Onslaught of New Challenges: Seeking a Frame of Reference.”
When asked about the matter, Stournaras was unequivocal. “I don’t think there is margin for a 13th and 14th salary, in our view. We are already dealing with pensions and other financial commitments, which add up to several billion euros,” he stated, reflecting the stance of the Bank of Greece.
Regarding the European Central Bank’s next moves on interest rates, he indicated that he does not foresee significant changes in monetary policy for the time being. He noted that market forecasts have shifted from expecting three rate cuts to just two, a perspective he agrees with. Stournaras predicted that the final interest rate for 2025 would settle at 2% following two reductions but stressed that this forecast was made with “great caution” due to the uncertainty caused by Trump’s trade policies.
“I cannot say for sure what will happen in April. It’s still too soon, and we need to let things settle. However, I do not rule out a 25-basis-point cut at that time,” he said. “By the end of the year, I believe the key interest rate will stand at 2.56%, which would support economic growth.”
The governor described the current economic climate as a “new reality,” with economies still undergoing a soft landing following the high inflation of 2022—avoiding a recession so far. However, he warned of emerging risks linked to the policies of former U.S. President Donald Trump.
Stournaras pointed out that while uncertainty has increased, the situation has not panned out as initially expected. Instead of strong U.S. growth and a strengthening dollar, the unfolding tariff war appears to be damaging the American economy. Inflation is likely to rise, and indicators now suggest a possible recession in the U.S. the Grek central banket claimed.
He described these developments as a wake-up call for the eurozone. “Europe has always been slow to act, taking steps only after crises emerge. But at least this serves as a wake-up call,” he remarked.
opportunity to push forward with public and private investment, as long as barriers to entrepreneurship are removed,” he emphasized.
Source: tovima.com
στο Google News και μάθετε πρώτοι όλες τις ειδήσειςLatest News
Mitsotakis Unveils €1 Billion Plan for Housing, Pensioners, Public investments
Greek Prime Minister Kyriakos Mitsotakis has announced a new set of economic support measures, worth 1 billion euros, aiming to provide financial relief to citizens.
Alter Ego Ventures Invests in Pioneering Gaming Company ‘Couch Heroes’
Alter Ego Ventures' participation in the share capital of Couch Heroes marks yet another investment by the Alter Ego Media Group in innovative companies with a focus on technology.
Corruption Still Plagues Greece’s Driving Tests
While traffic accidents continue to claim lives on Greek roads daily, irregularities and under-the-table dealings in the training and testing of new drivers remain disturbingly widespread
Pope Francis Died of Stroke and Heart Failure Vatican Confirms
As news of the official cause of death spread, tributes poured in from across the globe. The 1.4 billion-member Catholic Church is united in grief, remembering a pope who championed inclusion, justice, and compassion
Increase in Both Museum Visits, Revenues for 2024
As expected, the Acropolis was the top archeological site in the country, followed by Sounion, Mycenae, the ancient theater of Epidaurus, and Vergina in northern Greece
Where Greece’s Tourists Come From: A Look at 2025’s Top Visitor Markets
The United Kingdom continues to hold the top spot as the largest source of incoming tourism, with 5.6 million seats booked for Greece this summer — up 2.2% from last year. This accounts for 20% of all international air traffic to Greece
Pope Francis: A Pontiff Who Reshaped the Papacy and Sparked a Global Conversation
His first words from the balcony of St. Peter’s Basilica—“Brothers and sisters, good evening”—set the tone for a pontificate that would challenge norms, favor mercy over dogma, and bring the papacy closer to the people.
When Blue Skies was Unmasked as ND’s Political ‘Slush Fund’
The fact that so many top New Democracy (ND) party cadres were paid by the firm Blue Skies, owned by Thomas Varvitsiotis and Yiannis Olympios, without ever citing this publicly, raises very serious moral issues, regardless of the legality
Greek Women’s Water Polo Team Top in the World after 13-9 Win Over Hungary
The Greek team had previously defeated another tournament favorite, the Netherlands, to reach the final.
S&P Raises Greek Rating; BBB with Stable Outlook
S&P’s decision raises the Greek economy to the second notch of investment grade ladder, at BBB with a stable outlook.
![Πλημμύρες: Σημειώθηκαν σε επίπεδα ρεκόρ στην Ευρώπη το 2024 [γράφημα]](https://www.ot.gr/wp-content/uploads/2025/04/FLOOD_HUNGRY-90x90.jpg)
![Ξενοδοχεία: Μεγάλο το ενδιαφέρον για επενδύσεις στην Ελλάδα – Η θέση της Αθήνας [γραφήματα]](https://www.ot.gr/wp-content/uploads/2025/03/Athens-hotels-90x90.jpg)
