Takis Theodorikakos: Greek Government Defends Profit Caps Against Price Gouging

In a heated session of the Hellenic Parliament, the government, with support from ND and PASOK, approved an Emergency Legislative Act introducing measures to combat price gouging and inflation, particularly in fuel and food markets.

Takis Theodorikakos, Minister of Development, defended the profit margin caps, stressing these are temporary measures to protect society.

“The government is preparing to take any necessary action to intervene in other stages of the supply chain regarding fuels,” he said. He added that while the measures are strict for businesses, they are necessary under current conditions, and PASOK supported the legislation, unlike other opposition parties.

Opposition Critique

SYRIZA, Greek Solution, and NIKI parties questioned the effectiveness of the measures. SYRIZA submitted four amendments proposing:

• Six-month reduction of excise duties (EFK) on fuels
• Six-month VAT suspension on food
• Maximum profit margin in refining set at $8–9 per barrel
• Profit cap across the entire supply chain

“We acted quickly to send a message that we will not tolerate price gouging,” said Stavros Papastavrou, countering SYRIZA’s criticisms.

• “These are defensive measures for society. The government will expand them if necessary.” — Takis Theodorikakos
• “This is a tough measure for businesses, not in line with ND philosophy.” — Takis Theodorikakos
• “We acted quickly to send a message that we will not accept price gouging.” — Stavros Papastavrou
• “We are prepared to intervene in other supply chain levels if needed.” — Takis Theodorikakos

The emergency measures illustrate the government’s attempt to balance social protection and political control amid rising energy costs and geopolitical instability in Iran.Opposition parties are leveraging the law’s limitations to strengthen their narrative as defenders of citizens’ purchasing power, critiquing the government’s economic policies.

Source: pagenews.gr