Governor of the Bank of Greece, George Provopoulos, in his speech at the International Investment Forum “Bank Speaker Series” organized by Goldman Sachs, stated that the procedure of the recapitalization of Greek banks was very successful.

As he noted, these successes signal the change of climate for Greece and the return of confidence in the prospects of the country. “THe Greek banks, at this time, are some of the best capitalized banks in Europe. We have achieved a very high degree of concentration. Drastically reducing the number of banks, narrowing their cost significantly in the last four years, and as a result, we have a banking system which is more compact, efficient and competitive”, he stated.

Referring to the Greek economy, G. Provopoulos noted that the country is making significant progress in fiscal adjustment, recovery of competitiveness and addressing the current account deficit and promoting reforms. Mr. Provopoulos mentioned the challenges that exist, while noting that “the restoration of Greece to development -“Grecovery”- is on its way”.