Document Type

Lessons Learned

JEL Codes

G01, G30


Spiros Pantelias, an economist and investment banker, was an adviser to the governor of the Bank of Greece from late 2011 until early 2016. In that post, he was responsible for projects related to the reform of the domestic banking sector as envisaged by the Memorandum of Economic and Financial Policies (MEFP) and the Memorandum of Understanding (MOU) of the Hellenic Republic’s Economic Adjustment Program, two of the three international bailout efforts undertaken to return the nation to financial stability in the wake of its sovereign debt crisis. He is currently director for general and prudential supervision and resolution for the Bank of Greece. This “Lessons Learned” is based on an interview with Pantelias in May 2021.