Yiannis Stournaras, appointed by Prime Minister Antonis Samaras on Tuesday as Greece’s new finance chief following the resignation on Monday of National Bank of Greece Governor Vassilis Rapanos on health grounds, is the general director of the Foundation for Economic and Industrial Research (IOBE), the country’s foremost economic think-tank. He was also development minister in Greece's caretaker government between the May 6 and June 17 general elections. Born in Athens in 1956, Stournaras is a graduate of the University of Athens, where he is still a professor, and received his masters’ degree in economic theory and policy from Oxford University, where he was a research fellow and lecturer from 1982-1986. He has worked as special adviser to the Finance Ministry from 1986-1989 and from 1994-2000, as well as to the Bank of Greece from 1989-1994. He participated in the design of macroeconomic and structural policy in the runup to Greece’s accession to the European Monetary Union, representing the Ministry of Economy and Finance at the Monetary Committee (now Economic and Financial Committee) of the European Union.
He was responsible for the consultations with international organizations, such as the International Monetary Fund, the European Commission and the Organization for Economic Cooperation and Development (OECD).