Yesterday, Greece”s new Finance Minister Prof. Yannis Stournaras made his first policy speech since taking office. He said that Greece must implement the measures it has agreed upon its international lenders and he announced that he would speed up privatisations. Some key points of his speech include (here, in full, in Greek):
- speeding up the privatisation programme and including new assets in the existing one
- concluding the privatisation of the Public Power Corporation (DEI)
- developing the land from Faliro to Sounio in Attica through privatisations
- 90% of the privatisation programme will include selling or renting land and infrastructure
- creating a modern social state through combatting tax evasion and tax avoidance
- reducing uncertainty in the economy and improving the economic climate
- greater transparency in the tax system
- battling corruption
- creating social consensus to accept that staying in the eurozone is the only road available
Like any critical reader and thinking citizen, one should always check the sources of his information. Prof. Yannis Stournaras full cv can be found here. The highlights include a strong academic record (Master’s and PhD from Oxford) and a long list of publications.
In addition, he has worked in many respected positions in the Greek public administration. In particular, Stournaras worked as a
- 1986-1989 Special Advisor to the Ministry of Economy and Finance on Public Enterprises and Incomes Policy issues
- 1989-1994 Special Advisro to the Bank of Greece on Monetary Policy issues. During that period he represented the Bank of Greece as an alternate member in the Meetings of the Governors of European Union’Αs Central Banks.
- 1994 – July 2000 Chairman of the Council of Economic Advisors at the Ministry of Economy and Finance. He participated in the design of macroeconomic and structural policies (especially in the design and implementation of the Convergence Programmes) and represented the Ministry of Economy and Finance at the Monetary Committee (now Economic and Financial Committee) of the European Union. In this capacity, he participated in the negotiations for the entry of Greece in the Economic and Monetary Union. He was responsible for the consultations with international organizations, such as the International Monetary Fund, the European Commission and the Organization for Economic Cooperation and Development (OECD).
- 1994 – 1997 Vice Chairman of the Public Gas Corporation
- 1998 – July 2000 Member of the Board of Directors of the Public Debt Management Office
- 2000 – 2004 Chairman and Chief Executive Officer of Emporiki Bank and Vice-Chairman of the Association of Greek Banks
Which side do you think he will be on? The people’s?