Greece's Ministry of National Economy and Finance proposes reappointing Ioannis Stournaras for a third consecutive term as Bank of Greece governor

Greece's Ministry of National Economy and Finance published a speech by Minister Kyriakos Pierrakakis supporting the renewal of Ioannis Stournaras's mandate as Governor of the Bank of Greece, delivered during a parliamentary committee hearing on his proposed reappointment. Pierrakakis presented the move as a continuity and credibility decision for Greece's institutions, arguing that Stournaras's experience is valuable as Greece and Europe navigate geopolitical shocks, inflation and higher financing demands. To support the case, he pointed to Greece's regained investment grade and the recovery of the banking system. Private sector credit growth was about minus 0.4 percent in 2019, while European Central Bank data show average annual credit expansion to non-financial corporations of 10.9 percent over 2022 to 2025, among the highest in the euro area. Non-performing loans have fallen from more than 48 percent of total bank portfolios in 2016 to 3.3 percent, the lowest level in more than two decades. Pierrakakis said the next challenge is to expand financing further for innovation and investment, highlighted the UniCredit and Alpha Bank partnership as a sign of market confidence, and linked the debate to Europe's push for a Savings and Investments Union. If reappointed, Stournaras would become the first Governor of the Bank of Greece to serve three consecutive terms.