Printer Friendly

Greek central bank issues warning on damage from political crisis.

Global Banking News-December 16, 2014--Greek central bank issues warning on damage from political crisis

(C)2014 ENPublishing -

Global Banking News - 16 December 2014

The Greek central bank has issued a warning on damage from a political crisis.

In a prepared speech, the head of the central bank said that the nation faced 'irreparable' damages if the current political crisis in the nation was allowed to go unchecked. Prime minister, Antonis Samaras, who has brought forward a presidential election by two months, faces an early parliamentary election if his candidate loses.

Central bank head, Yannis Stournaras, said, 'The crisis in recent days is now taking serious dimensions, liquidity in the market is decreasing at a fast pace ... and the risk of irreparable damage for the Greek economy is now great. If there is no government to conclude negotiations, there will be an important funding gap. This deficit is manageable until February, and not easily afterwards, since from March onwards our needs will increase.'

[Editorial queries for this story should be sent to]

((Distributed via M2 Communications -

COPYRIGHT 2014 Normans Media Ltd.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2014 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:Global Banking News (GBN)
Date:Dec 16, 2014
Previous Article:Central bank intervention not able to save rouble.
Next Article:Veritas Financial raises capital.

Terms of use | Privacy policy | Copyright © 2019 Farlex, Inc. | Feedback | For webmasters