The Bank of Greece supported the National Bank of Romania in the first years of the post-communist period, offering technical assistance in the institutional transformation process, in the context of the transition to a market economy, declared on Monday the Governor of the National Bank of Romania, Mugur Isarescu.
"It is a great pleasure to welcome to Bucharest the Governor of the Bank of Greece - Yannis Stournaras. Just a few days ago, on March 25, Greece celebrated its national day, which marks the Greek War of Independence. Greece and Romania have an extensive common past - as do our banking and financial relations. Here are some examples from recent history. In the early years of post-communist Romania, on the path to a market economy, the Bank of Greece stood by the National Bank of Romania, offering technical assistance in the process of institutional transformation. Governor Christodoulou came to Bucharest several times to personally encourage us in the face of the challenges of reform. Years later, the cooperation between the Bank of Greece and the National Bank of Romania took on more advanced dimensions. Together with Governor Garganas, we "The Central Bank Governors' Club of Central Asia, the Black Sea region and the Balkan countries has been established," said Mugur Isărescu, at the presentation held on Monday by the Governor of the Bank of Greece, Yannis Stournaras, on the theme "10 years after the Greek crisis: lessons for national Governments, Central Banks and the Eurozone in light of the energy crisis".
According to him, Greek investors were among the first to bring capital to our country, mentioning, in this regard, Alpha Bank.
"I remember with pleasure that, in 1994, Alpha Bank - led at that time by President Costopoulos (Ioannis Costopoulos, n.r.) was the first Greek bank to come to Romania; benefiting from the support of the European Bank for Reconstruction and Development, Alpha Bank founded Banca Bucure?ti - the first commercial bank with Western capital in post-communist Romania," added the BNR governor.
Mugur Isărescu introduced the Governor of the Bank of Greece, Yannis Stournaras, highlighting both his academic background and his experience in the field of economic and financial policies.
"Let me now introduce our special guest: Governor Stournaras is widely recognized not only for his role as a central banker, but also for his distinguished academic career. As a Distinguished Professor of Economics at the University of Athens and, previously, as a Research Fellow at the University of Oxford, Governor Stournaras has pursued a broad academic career, building a solid expertise in macroeconomics, European monetary integration and financial stability. He has been Governor of the Bank of Greece and a member of the Governing Council of the European Central Bank since June 2014. In his previous role, as Minister of Finance of the Hellenic Republic from 2012 to 2014, he was instrumental in overcoming the structural challenges of Greece's debt, being a respected economist known for his role in emerging from the deep crisis, promoting structural reforms and supporting the stability of the euro area. euro," Isarescu mentioned.
The BNR Governor spoke about the current international economic context and highlighted the need to capitalize on the lessons of the past in the face of multiple challenges.
"We find ourselves in a complex international economic context, marked by regional conflicts, divergent geopolitical visions, fragile global value chains and increased volatility in a relatively uncertain environment. In addition to these overlapping challenges, our economies are also feeling the impact of climate change and the pressures generated by transformative forces. However, in these difficult times, the present and the future must take into account the lessons of the past," Isărescu added.
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