Greek Central Bank Governor Stournaras Calls for More Competition to Tame Inflation

Governor Giannis Stournaras of the Bank of Greece said that lowering inflation in Greece requires opening the economy to greater competition and removing obstacles for new businesses. He noted that inflation is currently about 3%, above the euro‑area average of 2%, and attributed the gap mainly to strong domestic demand. Stournaras argued that the answer lies in boosting supply rather than curbing demand, urging the removal of barriers that hinder entry of firms across sectors. He reiterated that preserving monetary and financial stability, and maintaining a robust banking system, remain top priorities for the central bank. His comments were made during an interview on radio station SKAI 100.3, emphasizing that central banks must protect the public good of money while fostering a more competitive economy.