Greek Central Banker Urges Government To Stick To Bailout Reforms

Greece’s central-bank chief urged the leftist-led government to implement bailout reforms agreed with the country’s lenders, warning in an article in a Sunday newspaper that backtracking would entail risks the economy could not withstand.

“The successful completion of the program’s first review is certain to have a very positive impact on confidence. It is the key for the return of deposits to the banking system,” Bank of Greece Gov. Yannis Stournaras wrote in a piece in Kathimerini.

“A potential failure in completing the review would be destabilizing, bringing to memory the experience of the first half of 2015,” Stournaras wrote. “A repeat of that experience entails large risks, difficult for the economy to withstand this time.”