Following the resignation of Mr Vasilios Rapanos, Mr Yannis Stournaras was sworn in as Minister of Finance on 5 July 2012.

Mr Stournaras also becomes EIB Governor for the Hellenic Republic. Before his appointment, Mr Stournaras, born in 1956, served as development Minister in Greece’s caretaker government.

He is also the general director of the Foundation for Economic and Industrial Research in Greece (IOBE).

He has been a Professor of Economics at Athens University since 1989.

From 2005 to 2008, he was managing director of Kappa Securities in Athens.

During the period 2000-2004, he was Chairman and Chief Executive Officer of Emporiki Bank and Vice-Chairman of the Association of Greek Banks.

From 1994 to 1997, he served as Vice Chairman of the Public Gas Corporation and was a member of the Board of Directors of the Public Debt Management Office from 1998 to 2000.

During the period 1994-2000, Mr Stournaras was Chairman of the Council of Economic Advisors at the Ministry of Economy and Finance.

Mr Stournaras graduated from the Department of Economics, Athens University. He holds post-graduate degrees from Oxford University in Economic Theory and Policy. He was Research Fellow and Lecturer at St. Catherine’s College, Oxford University, from 1982 to 1986.