Stournaras: “No Money Tree – Banks, Watch Out or Revolut Will Take Your Share”

The Governor of the Bank of Greece warns astir wages, inflation, and banks, emphasizing that the state stands retired successful Europe—but reforms and productivity are essential.

Greece stands out… but with conditions

“In a alternatively turbulent planetary environment, Greece stands retired positively for the archetypal time,” said Yiannis Stournaras in an interrogation connected SKAI 100.3. The state is increasing at twice the complaint of the remainder of Europe, portion nationalist indebtedness is decreasing by 10 percent points of GDP per year.

The politician highlighted that “very fewer believed we could win during the crisis” and stressed that this accomplishment indispensable beryllium safeguarded “like the pome of our eye.”

Inflation and wages: the trap

Stournaras warned:

“Unfortunately, determination is nary wealth tree. To springiness wage increases, determination indispensable beryllium productivity. Without it, businesses volition adjacent and unemployment volition rise.”

According to the Bank of Greece’s projections:

• 2025: inflation 3.1%
• 2026: 2.6%
• 2027: 2.4%

The politician explained that wage increases indispensable beryllium accompanied by investments and reforms to boost productivity.“If you abruptly summation wages by 30%, we’ll spell bankrupt,” he stressed.

Fiscal achievements and challenges

Stournaras noted that the 10-point yearly simplification successful nationalist debt is the country’s apical achievement. At the aforesaid time, income taxation redistribution proves much effectual for households than imaginable VAT cuts.

He besides pointed retired that:

• Greece is gradually expanding purchasing powerfulness and approaching the European average.
• There are inactive citizens struggling to marque ends meet, truthful the authorities indispensable prioritize the most vulnerable.

Banks, Revolut, and caller competition

The politician did not fell his interest astir the banking sector:

“The 4 systemic banks are comfy with 30–40 ample clients. We privation to make smaller banks, a 5th Pole.”

He warned bankers:“I privation to archer my banker friends to set their involvement rates now, due to the fact that Revolut volition instrumentality marketplace stock if we’re not careful.”

The caller banking ecosystem includes smaller banks like Credia, Optima, Viva, ABB, and cooperative banks.“Competition is what we privation successful the Greek economy,” he emphasized.

Stournaras’ connection astatine a glance

1. Greece stands retired successful Europe – maturation and indebtedness reduction.
2. No wealth tree – wage increases indispensable align with productivity.
3. Inflation gradually declines – 3.1% successful 2025, 2.4% successful 2027.
4. Banks connected alert – the 5th Pole and Revolut bring caller competition.

Source: pagenews.gr

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