Government proposes extending central bank governor Stournaras’ term

The Greek government has proposed the reappointment of Yannis Stournaras as governor of the Bank of Greece, the country’s central bank, a government spokesman said on Tuesday.

Stournaras represents Greece on the Governing Council of the European Central Bank. He was first appointed in 2014 for a six-year period, the duration of a governor’s term in Greece, and is a former Greek finance minister. He also heads the European Central Bank’s audit committee, succeeding Ewald Nowotny earlier this year.

Stournaras, a professor of economics at the University of Athens, has been a member of the ECB’s audit committee since September 2018.

A well-respected economist, Stournaras spearheaded Greece’s return to economic stability as finance minister in 2012-2014 after the country nearly crashed out of the euro zone.

His reappointment by Prime Minister Kyriakos Mitsotakis had been widely expected. [Reuters]