The Governor of the Bank of Greece, Yannis Stournaras, expressed reservations about the Supreme Court decision regarding the interest calculation method for loans covered under the Katseli Law. “It’s not a clear decision. At least it allows for multiple interpretations. So, we need to see exactly how this problem will be resolved, because right now some read it one way, others read it differently (meaning borrowers on one side and banks with servicers on the other). This issue must be resolved,” the central banker stated during the 7th OT Forum.
Read: The banker finally raised the issue instead of politicians
Yannis Stournaras: “Bank of Greece has raised the issue of numerous tax exemptions”
Referring to tax exemptions, Mr. Stournaras suggested reviewing the framework. “The Bank of Greece has raised the issue of numerous tax exemptions. I repeat, we’re not saying to abolish them – after all, it’s not our job to suggest to the government issues that are purely their domain, such as taxation – but what we are saying is, let’s review them. There are too many now. Are most of them useful? Could they be better targeted? And I clearly see that both the Organization for Economic Cooperation and Development and the International Monetary Fund are recently raising the issue of reviewing numerous tax exemptions. Perhaps this would be beneficial, that is, to find fiscal space for those who truly need it,” he noted characteristically.
Regarding indirect taxes, he supported that as tax evasion is combated, opportunities are created for reducing tax rates.
Concerning the possibility of difficulty forming a government after the next elections, the Bank of Greece Governor mentioned that “if such a scenario occurs, it will harm the economy.”
