ATHEN, April 15 (Reuters) - Greece on Wednesday proposed renewing the term of central bank Governor Yannis Stournaras, government spokesman Pavlos Marinakis said in a statement. Stournaras, 70, who
Greece proposes renewing term of central bank Governor Stournaras
Renewal Proposal and Background
Government's Proposal for Stournaras
ATHENS, April 15 (Reuters) - Greece on Wednesday proposed renewing the term of central bank Governor Yannis Stournaras, extending his 12 years in the role, a government spokesman said in a statement.
Historic Third Term
Stournaras would be the first Greek central banker to serve three consecutive terms.
Stournaras' Career and Achievements
Current Role and Experience
The 70-year-old, who also represents Greece on the Governing Council of the European Central Bank, has held the post since 2014. His six-year term is due to expire later this year after it was renewed in 2020.
Stournaras' Response to the Proposal
"The proposal of the Prime Minister and the government for my third consecutive term constitutes the greatest honor for me," Stournaras said in a press release.
Contributions to Economic Stability
Stournaras, a well-respected economist, spearheaded Greece's return to economic stability as finance minister from 2012 to 2014 after the country nearly crashed out of the euro zone. A professor of economics at the University of Athens, he has been a member of the ECB's audit committee since September 2018.
Approval Process and Expectations
Central Bank and Government Procedures
The general council of the central bank will convene in the coming days to submit its proposal to the government's cabinet, a typical procedure to approve the prime minister's proposal.
Political Context
His reappointment by the centre-right government of Prime Minister Kyriakos Mitsotakis had been widely expected.
Reporting Credits
(Reporting by Angeliki Koutantou and Lefteris Papadimas; Editing by Sharon Singleton, Thomas Derpinghaus and Keith Weir)
