Average wage increases must follow average productivity growth, Bank of Greece governor said
The investment grade marks the return to normality and is the beginning of a new effort to increase the well-being of the Greek people, the governor of the Bank of Greece said in his statements to SKAI. Giannis Stournaras.
According to him, fiscally we are doing well as well as in development, however reforms need to be made, as there are delays in Justice, bureaucracy in the State and tax evasion which are also priorities of the government to be addressed.
As Mr. Stournaras also said, average wage increases must follow average productivity growth while he focused on increasing foreign direct investment in the productive sector.
“When we deal with all this we will reach an A credit rating,” he said.
For the fine of almost 42 million euros (41.7), imposed by the Competition Commission on the Banks: Piraeus, Ethniki, Alpha, Eurobank, Attica and the Hellenic Union of Banks for concerted practice and the amount of charges in cash withdrawal transactions by card of one bank from the ATM of another, Mr. Stournaras commented that the institutions are working. He added, however, that empowerment of small banks is needed to bring about more competition in the banking system.
For the reform in Education he commented that “we are late to create non-state universities in Greece” and brought as an example Cyprus which has a benefit of 6% of GDP from foreign universities.
At the same time, he emphasized that Education must also take into account the labor market.
Asked about the Economist who highlighted Greece, country of the year for 2023the governor of the Bank stated that this is a highly prestigious magazine and what he said about Greece in two consecutive issues is very important.
