Mitsotakis: I will not tolerate inflation resulting from greed

Prime Minister Kyriakos Mitsotakis said on Saturday during a visit to the northern Athens suburb of Galatsi that the government of New Democracy will fight those who are taking advantage of current circumstances and market conditions to overcharge consumers.

Speaking of the price spikes in food and household goods, Mitsotakis asserted, “I will not tolerate an inflation of greed, and I have said several times that the state has the power and the control mechanisms to establish order in the market.”

“We will do that to continue our support of citizen incomes, especially for weaker citizens, as we always have done.

“When our economy goes well, there is a surplus so we can support the weakest of our fellow citizens, because I will never tire to repeat that collective prosperity, in our personal ideology, must be turned into individual success.”

Mitsotakis also said that reforms will continue, as they are the progress the country needs to make that big leap into the future and become more European. “This progress is something all Greeks will benefit from,” he added.

The premier also spoke of the coming Greek European Parliament elections, and of what his party had done for Greece.

He referred to this year being the 50th founding anniversary of New Democracy, the party that led Greece into the European Union, kept it there, and has allowed it to play a leading role in Europe.

The prime minister then paid a visit to the area where the central square of Galatsi will be built, next to the works for a station of the new Athens metro Line 4. He was also provided with more details on the square by Galatsi Mayor Giorgos Markopoulos.

The suburb is the only municipality in the Athens area lacking a public square.

Over half of fines for overpricing have already been collected, Development min says

Over half of the fines imposed on businesses for overpricing and profiteering practices has already ended up at public coffers, Development Minister Kostas Skrekas told Athens-Macedonian News Agency (AMNA) in statements published Saturday.

In addition, unwarranted overpricing of infant formulas will lead to fines as well, he said.

Skrekas told AMNA that of the nearly 13.5 million euros in fines imposed on food sellers, over 50% has already been collected by the state and the rest is confirmed by the tax authorities.

Details are expected to be released in upcoming days, he said, adding that the government will not hesitate to fine any companies, including multinationals.

According to ministry data, the price reductions in food and home supplies, whether temporary or permanent, are starting to show results. The new measures announced a few days ago are expected to reduce prices by up to 20%.

During the entire 2023, a total of 25,267 inspections were carried out and 1,865 fines handed out, totalling 13.4 million euros.