Greece names top economist as finance czar ahead of talks
Source: Agencies |
June 27, 2012, Wednesday
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Print Edition
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GREECE named prominent economist Yannis Stournaras, who was involved in the country's negotiations to join the euro, as its new finance minister yesterday.
Prime Minister Antonis Samaras' office made the announcement a day after the banker previously named to the position, Vassilis Rapanos, resigned for health reasons.
Stournaras, 55, is currently the head of the Foundation for Economic and Industrial Research, a think tank and research body that advises the government. A professor of economics at the University of Athens, he spent several years heading the Finance Ministry's Council of Economic Advisors.
"I do think we have the ability to get past this problem. But we must be realistic," Stournaras said about Greece's financial crisis, speaking at a book presentation in Athens shortly before his appointment was announced.
"We have a difficult road ahead of us, an uphill road. But Greece is a country with great potential ... We have to get through a wall - a wall of entrenched attitudes, and those who do not want to hear that Greece has potential. But we will be able to carry it out."
Rapanos resigned on Monday from his hospital bed, where he had been since being rushed there following a collapse last Friday. He was discharged yesterday.
Rapanos was admitted to hospital before he had time to be sworn in to office, so the title is officially still held by the outgoing minister, Giorgos Zanias.
The finance minister position is a critical one in the debt-struck country, which faces tough negotiations with other European Union countries and the International Monetary Fund as it tries to amend some of the austerity terms of its international bailout.
Samaras himself was convalescing at home after undergoing serious eye surgery to repair a detached retina at the weekend. Doctors have said he must remain home for several days. He is unable to travel to Brussels to attend a two-day European Union summit starting tomorrow, but is able to have meetings at his residence.
Greece is sending President Karolos Papoulias to head the country's delegation at the summit, which will also include Zanias.
Samaras heads a three-party coalition government agreed on last week, after a protracted political crisis and two inconclusive general elections since May.
Prime Minister Antonis Samaras' office made the announcement a day after the banker previously named to the position, Vassilis Rapanos, resigned for health reasons.
Stournaras, 55, is currently the head of the Foundation for Economic and Industrial Research, a think tank and research body that advises the government. A professor of economics at the University of Athens, he spent several years heading the Finance Ministry's Council of Economic Advisors.
"I do think we have the ability to get past this problem. But we must be realistic," Stournaras said about Greece's financial crisis, speaking at a book presentation in Athens shortly before his appointment was announced.
"We have a difficult road ahead of us, an uphill road. But Greece is a country with great potential ... We have to get through a wall - a wall of entrenched attitudes, and those who do not want to hear that Greece has potential. But we will be able to carry it out."
Rapanos resigned on Monday from his hospital bed, where he had been since being rushed there following a collapse last Friday. He was discharged yesterday.
Rapanos was admitted to hospital before he had time to be sworn in to office, so the title is officially still held by the outgoing minister, Giorgos Zanias.
The finance minister position is a critical one in the debt-struck country, which faces tough negotiations with other European Union countries and the International Monetary Fund as it tries to amend some of the austerity terms of its international bailout.
Samaras himself was convalescing at home after undergoing serious eye surgery to repair a detached retina at the weekend. Doctors have said he must remain home for several days. He is unable to travel to Brussels to attend a two-day European Union summit starting tomorrow, but is able to have meetings at his residence.
Greece is sending President Karolos Papoulias to head the country's delegation at the summit, which will also include Zanias.
Samaras heads a three-party coalition government agreed on last week, after a protracted political crisis and two inconclusive general elections since May.
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