Governor of Bank of Greece on Greek-French Economic Ties #FrenchFinance

The Governor of the Bank of Greece, Yannis Stournaras, recently addressed the opening event of the Hellenic-French Chamber of Commerce celebrating its 140th anniversary. In his remarks, he emphasized the need for the European Central Bank to continue reducing interest rates to support the economy in an environment of heightened uncertainty. The reduction in interest rates is expected to impact the cost of loans with variable interest rates, which, in turn, will affect banks’ funding costs.

The Governor expressed optimism about the banking sector, despite the challenges, highlighting that the Greek economy and banking system can remain resilient and continue a path of growth.

Mr. Stournaras also referred to Greek-French economic relations, underlining the increase in Foreign Direct Investments (FDI) from France in recent years. He stressed that the arrival of more new French investments in Greece could yield a significant positive impact on the Greek economy, with a multiplier effect on investments, employment, knowledge transfer, and the enhancement of extroversion and innovation.

The Governor of the Bank of Greece highlighted the complementary nature of the two economies. France, with its advanced industrial base and cutting-edge technologies, and Greece, with its focus on tourism, agriculture, and services, create a dynamic synergy. Additionally, the emphasis at the European level on energy and digital transitions, as well as strategic autonomy and security, offers new opportunities to strengthen bilateral relations.

The opening event of the Hellenic-French Chamber was honored by the presence of H.E. the French Ambassador to Greece, Laurence Auer, ambassadors of European countries, Ministers of State Makis Voridis and Health Minister Adonis Georgiadis, Members of Parliament, the President of the Greek National Tourism Organization, as well as numerous executives from Greek and French companies, and high-ranking officials from Ministries and Organizations.

The Chamber’s splendid evening celebrating its 140 years of presence in Greece combined the distinguished speech of Governor Yannis Stournaras with the elegance of French finesse, fine gastronomy, and live music performances by singers Olga Veneti, Nikos Maraziotis, and Nikos Karangiaouris, accompanied by pianist Marilena Souris