Greek central bank proposes economist Theodore Mitrakos as deputy governor

ATHENS: The Greek central bank said on Wednesday it will propose to the government that economist Theodore Mitrakos becomes a deputy governor.

Mitrakos has been the head of the Bank of Greece's division that monitors the Greek property market for the last six years.

If approved by the government, he will replace Ioannis Papadakis whose term ends on March 2.

Mitrakos, who joined the bank in 1997 as an economist and researcher, would be one of Governor Yannis Stournaras's two deputies. Greece is trying to rebuild confidence in its banking system after savers withdrew huge sums during negotiations between the leftist government and international lenders over its bailout programme.

Deposit outflows rose last week to around 3 billion euros, according to estimates by JP Morgan, before a deal was struck on extending the bailout.

Index compiler STOXX said two lenders, Bank of Piraeus and Eurobank, will drop out of the pan-European STOXX 600 benchmark, a step which could deprive them of investment flows.