“The rise in interest rates worldwide will continue to create problems for the global economy and markets, but our country is no longer at the center,” said the head of the prime minister’s economic office.
The head of the Prime Minister’s economic office gives his assessment of the influence of the banking crisis that has erupted in the last 24 hours in Greece in a statement via Tik Tok Alexis Patelis.
The well-known economist assures that our country will not experience anxieties similar to those of the past, as “it is not at all like before”, excluding the possibility of capital controls and fears of bankruptcy haircuts.
His statement in more detail:
We watch the collapse of SVB in America and Suisse’s troubles in Europe. No one knows how the global banking scene will develop, however our country is not at all, not at all, as it was before.
Let’s remember the capital controls and the fears of cutting deposits. These are not going to happen again.
We read that a technology company publicly states that it is transferring its money from the US to Greece for safety.
Of course, a lot of work has been done in recent years with Heraklis, which reduced bad loans in our banks and we are in single digits. Imagine if we were still at 2019 levels.
Greek banks currently have one of the highest deposit-to-loan ratios in Europe and the regulatory framework is very strict.
Rising interest rates worldwide will continue to create problems for the global economy and markets, but our country is no longer at the center.
We must continue with the same commitment to the stability of our country and to the strengthening of institutions.
I am Janice Wiggins, and I am an author at News Bulletin 247, and I mostly cover economy news. I have a lot of experience in this field, and I know how to get the information that people need. I am a very reliable source, and I always make sure that my readers can trust me.