The Governor of the Bank of Greece, Yannis Stournaras, spoke about the need to adopt innovative and sustainable fiscal solutions due to the increase in Public Debt in the Eurozone, opening the work of the Conference on “Public Debt: Lessons from the Past, Challenges for the Future”.
As he pointed out, Europe is currently at a crossroads, faced with increased levels of debt due to successive recent crises, such as the global financial crisis of 2008, the public debt crisis of 2010-13, the pandemic, but also the energy crisis that caused by the war in Ukraine.
Consequently, the challenge it faces today requires “constant vigilance and adaptability. In the event that debt levels lead to increasing vulnerabilities, the need for innovative and sustainable fiscal solutions will be more pressing than ever,” he said.
He added that the decisions we take today will determine not only the financial stability of Europe, but also the well-being of future generations. Striking the right balance between promoting growth, ensuring fiscal sustainability and protecting the long-term interests of our societies is not an easy task, but it is a matter of collective responsibility.
