Christina Papaconstantinou, deputy governor of the Bank of Greece and a member of the European Central Bank’s Supervisory Board, discussed the ECB’s future following Christine Lagarde’s announced departure as president, and the EU’s continuing challenge of completing the Banking Union. Speaking on Voice of Greece’s “Greece in the World,” with Dimitris Kontogiannis filling in as host, she also explained what the digital euro is, addressing holding limits, privacy, and zero fees, and discussed the Greek economy and the challenges facing the Greek banking sector.
The deputy governor said that a digital euro pilot is scheduled for the second half of 2027, with a full rollout in 2029, provided the legislative process has been completed by then. She recalled that the two-year preparation phase concluded in October 2025, following the ECB’s decision taken in Athens in 2023.
Papaconstantinou stressed that Greece must maintain sound fiscal management and continue implementing reforms in the years ahead. Asked about the challenges facing the Greek banking system, she noted that Greek banks have substantially reduced nonperforming loans on their balance sheets and are profitable. She emphasized that they must strengthen their resilience to digital threats, including cyberattacks, and to the broader risks associated with new technologies.