Greece's Garganas to step down

Nicholas Garganas, the governor of the Bank of Greece, will retire when his first term ends in June.

Garganas took over as governor of the central bank in 2002 after a six-year stint as a deputy. At 71, he is the oldest member of the European Central Bank's Governing Council.

Naftemporiki, a Greek newspaper, reported that George Provopoulos, a former deputy governor at the central bank now a vice-chairman at Piraeus Bank, would succeed Garganas.

Garganas received stinging criticism in Greece f