In my view, this has been the key to its success. Such has been the journey of the Bank of Greece during the past 75 years. As you can see, in common with the experiences of other central banks, the journey has not been without bumps and turns along the way.
Yet, the history of the Bank demonstrates that the Bank has always fulfilled its obligations and, in so doing, it has earned the trust of the Greek citizens. In the early part of the last century, the famous Swedish economist, Knut Wicksell, said that “Monetary history reveals the fact that folly has frequently been paramount; for it describes many fateful mistakes.