Stournaras has a long academic career as a Professor at the Athens University of Economics and he was an economic adviser in the government of Kostas Simitis. From the outset of the crisis, he has declared his support for the liberalization of the Greek economy and for the reforms in public administration.

Instead of him, President Carlos Papoulias will lead the Greek delegation to Brussels, as stipulated by the European Union protocol.

The new finance minister will be named at tomorrow's meeting of coalition partners.

High taxes and extra charges on the income of ordinary taxpayers, combined with the deepening recession, have made the tax breaks for shipping industrialists a thorn in society’s side. It seems, however, that the new Minister will not change the policy pursued so far.

While voting laws to reduce the number of civil servants, ministers made new appointments, states a report by representatives of the supervisory Troika in Athens.

Konstantinos Mitropoulos, Executive Director of the Privatization Agency, stressed in an interview he gave that privatization is a lever for development, not a clearance sale of state assets.

Тhrough videos and photos they present their views on the current situation at the international exhibition «It's the Political Economy, Stupid»