Top 10 Quotes & Sayings by Athanasios Orphanides

Explore popular quotes and sayings by a Cypriot economist Athanasios Orphanides.
Last updated on November 25, 2024.
Athanasios Orphanides

Athanasios Orphanides is a Cypriot economist who served as Governor of the Central Bank of Cyprus between 3 May 2007 to 2 May 2012 and as a member of the Governing Council of the European Central Bank between 1 January 2008 and 2 May 2012.

Sometimes you have Harvard undergraduates who stun you with the depth of their knowledge. That is why it is great to be at a university like this.
I would say that fears of the euro area breaking up are unfounded.
The degree of monetary policy ease should be associated with the level of real interest rates, not nominal interest rates. — © Athanasios Orphanides
The degree of monetary policy ease should be associated with the level of real interest rates, not nominal interest rates.
In order for the E.U. area to stay together, they needed to form a banking union, which meant they needed to have a common credible deposit insurance guarantee for everybody in the E.U. area.
Cyprus had developed its financial center over three decades ago by having double taxation treaties with a number of countries: the Soviet Union, for example. That means if profits are booked and earned and taxed in Cyprus, they are not taxed again in the other country.
Cyprus joined the E.U. in 2004 and immediately wanted to get into the euro area for the express purpose of completing, as quickly as possible, the union with the core of Europe. It was done because the public thought that would be beneficial for political reasons, not economic reasons.
My mother is from Greece: she comes from Vrahos, a small village in Kastoria.
Near-zero policy rates that may be considerably expansionary in an economy with high inflation could be contractionary when inflation is too close to zero, or worse, deflation has set in.
Watching the economies in various parts of the world, I believe that there is scope for improvement everywhere. There is some corruption and inefficiency everywhere.
In my min,d there is arguably a greater risk of a default on the debt of a U.S. state than there is on the debt of a euro-area member. I consider it unthinkable that a euro-area country would default.
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