As supervisor, Stournaras decided to change the bank’s management, revoking the “fit and proper” status of certain individuals
Shocking details about the period of SYRIZA’s governance and the clashes surrounding the management of Attica Bank were revealed by the Governor of the Bank of Greece, Giannis Stournaras, describing a case that, as he stated, escalated to an attempted act of blackmail against both himself and his wife.
“When I rejected the management that SYRIZA wanted at Attica Bank, the Financial Crimes Unit visited my wife,” the central banker said in an interview on the program “Omada Alitheias.” He described the behind-the-scenes rift with the then government, the disagreements over appointments to the bank’s management, and the events that followed, which, as he noted, tested the independence of his institutional role.
Mr. Stournaras emphasized that there had initially been good cooperation with SYRIZA, then–Prime Minister Alexis Tsipras, as well as Euclid Tsakalotos and Giorgos Chouliarakis, who contributed to a positive course of developments. “But I remember when the storm started again,” he said.
The problem began with Attica Bank, where “strange” loan approvals were identified.
As supervisor, Stournaras decided to change the bank’s management, revoking the “fit and proper” status of certain individuals and initially agreeing with the government on the appointment of new executives. However, a few days later he realized that different individuals had ultimately been appointed than those previously agreed upon.
“I called Mr. Tsakalotos—he told me he had no idea. I called Mr. Dragasakis—he also didn’t know. Finally, I spoke with Mr. Tsipras, who told me they had disagreed with the choice. I replied that the individuals being proposed could not be accepted, as their ‘fit and proper’ status had been revoked in the past,” the Governor said.
The government’s reaction
According to Stournaras, the government’s reaction was immediate and intense.
The following day, the Financial Crimes Unit (SDOE) and the Economic Police conducted an inspection at his wife’s office.
“The next day she told me, ‘The entire state has come to my office—SDOE, the Economic Police.’ I realized it was no coincidence,” he said.
Despite the pressure, Stournaras decided to follow the legal and ethical path, blocking any loan approvals until new management was appointed.
The central banker’s decision to defend his independence became evident later as well, when during a conference at the European Central Bank he was applauded by Mario Draghi and the other participants, in recognition of the stability and independence of his institutional role.
“When the time comes, you must prove that you deserve the position you hold,” Mr. Stournaras concluded, emphasizing the importance of professional integrity and the independence of supervisory authorities during periods of political pressure.
www.bankingnews.gr
“When I rejected the management that SYRIZA wanted at Attica Bank, the Financial Crimes Unit visited my wife,” the central banker said in an interview on the program “Omada Alitheias.” He described the behind-the-scenes rift with the then government, the disagreements over appointments to the bank’s management, and the events that followed, which, as he noted, tested the independence of his institutional role.
Mr. Stournaras emphasized that there had initially been good cooperation with SYRIZA, then–Prime Minister Alexis Tsipras, as well as Euclid Tsakalotos and Giorgos Chouliarakis, who contributed to a positive course of developments. “But I remember when the storm started again,” he said.
The problem began with Attica Bank, where “strange” loan approvals were identified.
As supervisor, Stournaras decided to change the bank’s management, revoking the “fit and proper” status of certain individuals and initially agreeing with the government on the appointment of new executives. However, a few days later he realized that different individuals had ultimately been appointed than those previously agreed upon.
“I called Mr. Tsakalotos—he told me he had no idea. I called Mr. Dragasakis—he also didn’t know. Finally, I spoke with Mr. Tsipras, who told me they had disagreed with the choice. I replied that the individuals being proposed could not be accepted, as their ‘fit and proper’ status had been revoked in the past,” the Governor said.
The government’s reaction
According to Stournaras, the government’s reaction was immediate and intense.
The following day, the Financial Crimes Unit (SDOE) and the Economic Police conducted an inspection at his wife’s office.
“The next day she told me, ‘The entire state has come to my office—SDOE, the Economic Police.’ I realized it was no coincidence,” he said.
Despite the pressure, Stournaras decided to follow the legal and ethical path, blocking any loan approvals until new management was appointed.
The central banker’s decision to defend his independence became evident later as well, when during a conference at the European Central Bank he was applauded by Mario Draghi and the other participants, in recognition of the stability and independence of his institutional role.
“When the time comes, you must prove that you deserve the position you hold,” Mr. Stournaras concluded, emphasizing the importance of professional integrity and the independence of supervisory authorities during periods of political pressure.
www.bankingnews.gr
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