Syriza aims smoking gun at Central Bank Governor

Former Nia Demokrita Finance Minister Yannis Stournaras asked to leave BoG

Sources within Athens media and finance told The Slog last night that Bank of Greece Governor Yannis Stournaras will be quitting his post today (Sunday). Alexis Tsipras will ask for his resignation in the light of documentary proof that the former New Democracy Finance Minister personally gave specific briefs to a top journalist about “putting the most negative spin possible on the news” about Greek finances.

Influential Greeks have long suspected that Troika sympathisers in the banking system were working in close-knit coordination with the creditors to destabilise the Syriza government led by Alexis Tsipras and Yanis Varoufakis. But the smoking gun apparently emerged last week in the shape of briefing documents from the central bank’s Governor to “a leading influential Greek journalist”.

The Slog has posted before about coordinated withdrawals from Athenian banks, and high net worth customers being encouraged to withdraw funds soon after the Syriza election victory. This case, however, is infinitely more insidious because it potentially opens up a trail of deliberate destabilisation and dirty tricks all the way back to Brussels, Berlin….and Washington.

1. YannisStournaris was the Greek Minister of Finance from 5 July 2012 until he moved to the BoG last year. It is unlikely bordering on unthinkable that senior New Democracy colleagues didn’t have any idea this briefing was going on.

2. As a senior consultant to the BoG, he was personally involved in the entry of Greece into the euro. This is now widely known to have involved corruption on a grand scale. So Stournaras has every motive for urgently destabilising the government now investigating all aspects of EMU and Greek debt.

3. Stouranaras is a senior Governor who sits on the Board of the IMF. This gives him a serious conflict of interest….but also ready access to Christine Lagarde should he need it.

4. His media ‘order-taker’ (who is known to the Athenian cognoscenti) regularly passes these briefings on to a number of neoliberal global publications…notably Reuters.

Meanwhile, the forensic investigation into debt overstatement in 2010 and how much Greek debt can be objectively defined as ‘odious’ continues.

Hat-tip to Archie X for giving me the lead on this exclusive.

The Slog would like to thank all senior members of the Eurobnoxious tendency in the British Labour Party for its unstinting support of the Greeks, and virile attacks on the bullying control freaks of Brussels-am-Berlin. It will stand forever as a beacon of apathy among progressives in the UK, and got the reward it so richly deserved in last Thursday’s British General Election.

Yesterday at The Slog: The British Left’s myopic ideologues


  1. Let’s hope that (as opposed to bankers elsewhere) this one sees some jail time – Difficult to influence IMF from a jail cell.. Is a charge of treason on the cards?


  2. The election results were no fluke — the Tories also did well in local races. What’s more, it’s unusual for the party in power to improve its advantage. The Tories are socialists, which means Labour has to go hard left, but that’s where the Greens have been gaining strength. Even UKIP is largely socialist, given the lip service it pays to the NHS, which is already dead as far as free universal health care goes.

    In sum, Labour may vanish.


  3. It seems to matter not that corruption is rife these days. It seems to be the new normal. Those who might have objected in the past to distasteful practices have been bought or levered to turn a blind eye. Has it always been thus? Or, are things really different now to times past?


  4. O/T but now the GB election is over are we finally going to get a glimpse of the Iraq Report that Sir John Chilcot dashed off? (6 years and counting).


  5. Now that’s what i expect, shiek,the fundamentals of right wing flat earth economics are still flawed & unlikely to be changed,if you think Conservatives socialist because they take tax or work with collectives then the world you so desire is has doomed has any socialist government


  6. So Labour lost because they didn’t support the Greeks, and the Conservatives won because they didn’t support the Greeks?


  7. Pingback: Greece fires Bank of Greece Boss -

  8. @jimsresearchnotes:

    I read the article (in Swedish). It is very well written and, I suppose, reflect how people in small Swedish villages get along with each other and the various peculiarities they come across. I haven’t visited Sweden for maybe 15 years but understand that the country has changed immensely due to immigration, much more so than the UK. From that perspective it is perhaps no wonder that those who feel alienated and left behind seek utopian and simplistic solutions.

    You can of course question what kinds of ideologies should be allowed to participate in the democratic process and gain representation. My view in that respect is very liberal. I sincerely believe that poor arguments will eventually fail under intellectual scrutiny, and without in any way defending Nazism – a completely discredited and philosophically bankrupt ideology – it would perhaps not be unreasonable to point out that at least one other violent and anti-semitic obsolete political ideology seems to be welcomed with open arms into the political process in most European countries.


  9. Pingback: Tsipras to Fire Bank of Greece Boss for ‘Undermining Syriza Position - The True News

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s