The European Central Bank’s (ECB) Supervisory Board Chair, Claudia Buch, has praised the progress made by Greece’s banking sector during a visit to Athens. Buch highlighted the “good European collaboration” and “strong supervision” that have played a decisive role in the sector’s progress since the financial crisis. The Chair of the Single Resolution Board, Dominique Laboureix, also acknowledged the close collaboration between European and national authorities in protecting financial stability. The heads of the ECB and the Single Resolution Board met with the Bank of Greece Governor, Yannis Stournaras, and other top executives to discuss issues within their remit.
Key points:
- The ECB’s Supervisory Board Chair praises the progress made by Greece’s banking sector.
- Good collaboration between European and national authorities has played a decisive role in the sector’s progress.
- The heads of the ECB and the Single Resolution Board meet with the Bank of Greece Governor and other top executives.
The European Central Bank’s (ECB) Supervisory Board Chair, Claudia Buch, has praised the progress made by Greece’s banking sector during a visit to Athens. Buch highlighted the “good European collaboration” and “strong supervision” that have played a decisive role in the sector’s progress since the financial crisis. The Chair of the Single Resolution Board, Dominique Laboureix, also acknowledged the close collaboration between European and national authorities in protecting financial stability.
The visit included meetings between Buch, Laboureix, and the Bank of Greece Governor, Yannis Stournaras, as well as top executives of the Bank of Greece. The European officials also met with executives from supervisory departments of the Bank of Greece, expressing gratitude for their excellent level of cooperation.
Buch thanked Stournaras and the Bank of Greece supervisors for their commitment and productive collaboration since the start of ECB Banking Supervision 10 years ago. She emphasized that the progress made by the Greek banking sector is a result of good European collaboration and strong supervision in the banking union.
Laboureix also stressed the importance of close collaboration between European and national authorities in protecting financial stability. He commented that the Greek banking sector has come a long way since the financial crisis and that this is a good news story; however, he warned that vigilance should always be maintained.
This visit serves as an example of the excellent cooperation between European and national authorities. Laboureix emphasized the vital importance of this collaboration for financial stability. The Greek banking sector’s progress is a positive development, but caution should still be exercised to ensure continued stability.
