Bank of Greece Governor Rules Out 13th and 14th Salaries

Bank of Greece (BoG) Governor Yannis Stournaras firmly ruled out any discussion regarding the reinstatement of the 13th and 14th salaries, speaking at the conference Ellada Meta VIII, co-organized by Kyklos Ideon (Circle of Ideas) -the Greek think tank- in partnership with the Delphi Economic Forum. The event focused on “Europe, Greece, and the Onslaught of New Challenges: Seeking a Frame of Reference.”

When asked about the matter, Stournaras was unequivocal. “I don’t think there is margin for a 13th and 14th salary, in our view. We are already dealing with pensions and other financial commitments, which add up to several billion euros,” he stated, reflecting the stance of the Bank of Greece.

Regarding the European Central Bank’s next moves on interest rates, he indicated that he does not foresee significant changes in monetary policy for the time being. He noted that market forecasts have shifted from expecting three rate cuts to just two, a perspective he agrees with. Stournaras predicted that the final interest rate for 2025 would settle at 2% following two reductions but stressed that this forecast was made with “great caution” due to the uncertainty caused by Trump’s trade policies.