Feb 9 β€’ 10:54 UTC πŸ‡¬πŸ‡· Greece Naftemporiki

Yannis Stournaras (Bank of Greece): Political Stability is the Most Important Asset

In a recent radio interview, Yannis Stournaras emphasized that political stability is critical for a country's success, especially amid global uncertainties.

Yannis Stournaras, the Governor of the Bank of Greece, highlighted the essential role of political stability in a country during a radio interview on ERT. He stated that in the face of increasing global uncertainties, including geopolitical instability and economic challenges like tariffs and trade wars, political stability is paramount. Stournaras believes this stability is the foundation for all other aspects of a nation’s success and prosperity.

He articulated that political stability serves as an intangible asset that countries must prioritize, especially given the volatile international environment. Stournaras expressed concern that without this stability, nations risk significant challenges that could hinder their development and economic health. He suggested that ensuring political coherence and predictability is vital for navigating the current global landscape.

Regarding digital payment concerns, when questioned about the potential withdrawal of Visa and Mastercard from European markets, Stournaras dismissed such prospects as 'unthinkable'. He reassured listeners that these services are integral to the banking system and that the rise of digital currencies will also be addressed comprehensively, reflecting a well-rounded strategy towards modernization in banking practices.

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