In an interview filled with alarmist rhetoric, the Governor of the Bank of Greece, Yannis Stournaras, once again opposed the reintroduction of the 13th and 14th-month salary for public sector workers. He argued that doing so would harm the poorest members of society. According to Stournaras, "If you add these extra salaries and pensions, you'll take money away from the poor at a time when we need to focus on social policy, and you'll also be depriving funds needed for infrastructure investments."

In an interview with Athens Voice, Stournaras explained that Greece is only just beginning to recover from the severe crisis it went through. He warned that bringing back the 13th and 14th-month salaries and pension bonuses would cost the economy around €8 billion—roughly 3.5 to 4% of the country’s annual GDP. “No budget could withstand such a burden,” he said.

He added that Greece’s economy is growing faster than most other European countries, which is why it has higher inflation, and stressed that extra salaries and pensions would divert resources away from the poorest and from crucial infrastructure projects.

He also claimed:

“One of the reasons the Greek economy went off course in 2008/2009 was because wages were raised far beyond productivity, starting with the public sector.”

In essence, he blamed wage increases for the crisis. “Some people tell me, ‘You’re too harsh.’ No. I lived through the crisis. I’ve learned from it, and I speak frankly. I’m not afraid to say it. If this happens, it will be the most self-destructive move possible.”

The Asociation of Judges and Prosecutors in Greece issued a sharp statement against the government and Yannis Stournaras.

The Association initially condemned in strong terms the government’s refusal to respond to their request for a meeting with the Ministry of Finance in order to present their demand for the reinstatement of the bonuses for public sector workers and pensioners.

“This is an unprecedented display of disrespect during a period of intense social questioning of institutions,”the association commented.

“The workers and pensioners are not beggars nor are they asking for any additional handout. The bonuses essentially represent part of their unpaid labor throughout the year. They have a century-long history and were paid even under the most extreme conditions of poverty,” they stressed.

They also added that “it is an additional provocation for the Governor of the Bank of Greece, Mr. Stournaras, to claim that reintroducing the bonuses would deprive money from the poor, especially when at the very bank he runs, these bonuses are still being paid regularly, while public sector employees and pensioners are already living on the brink of poverty.”

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