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Former Greek finance minister appointed central bank chief

June 11, 2014

Athens (Alliance News) - Former Greek finance minister Yannis Stournas was appointed as the country's new central bank governor for the next six years, the Bank of Greece announced in a statement Wednesday.

The appointment was to replace George Provopoulos, whose term ends June 19. The decision was unanimous, according to the statement.

The decision by the bank council is expected to be approved by the cabinet.

Stournaras will be taking over the banking sector as it struggles to cope with a mountain of bad loans which have accumulated during the financial crisis.

Stournaras, the country's finance minister since July 2012, was born in Athens in 1956. He is a graduate of the University of Athens and later became a professor. He received his masters' degree in economic theory and policy from Oxford University, where he was a research fellow and lecturer from 1982 to 1986.

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Source: Alliance News

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