Vice-Governor Luís Máximo dos Santos was invited to speak by the President of the Economic Chamber of Greece and the Vice-Governor of the Bank of Greece, John (Iannis) Mourmouras. His address took place during the first panel session, taking as its theme: “The experience from countries that have implemented adjustment programmes”. 1.
In my view, the reasons would include the lingering effects of the financial crisis, including lower potential growth for a time. Turning briefly to asset purchases, since last December’s FOMC meeting, the Committee has reduced asset purchases in a series of measured steps from a pace of $ billion a month to its current pace of $ billion per month.