The prime minister’s chief financial officer, Alexis Patelis, speaks of the uncertainty surrounding the development of the global banking scene following the collapse of Silicon Valley Bank and the crisis faced by Swiss Credit Suisse.

However, on Greece, Mr. Patelis says “it’s not what it used to be,” noting that there will be no capital controls and no fears of deposit cuts again.

His full statement:

“We are seeing the collapse of SVB in America and the problems of Suisse in Europe. No one knows how the global banking scene will develop, but our country is completely, not at all what it used to be.

Let’s think about capital controls and fears of shrinking deposits. This will not happen again.

We read that a tech company publicly says it is moving its money from the US to Greece for security purposes.

Of course, there has been a lot of work done with Heraklis in recent years that has reduced bad loans in our banks and we are in single digits. Imagine if we were still at the level of 2019.

Greek banks currently have one of the highest deposit-to-loan ratios in Europe and the regulatory framework is very strict.

Rising interest rates around the world will continue to create problems for the global economy and markets, but our country is no longer in the center.

We must continue with the same commitment to the stability of our country and the strengthening of institutions.”