PM hails Competition Commission’s fines on banks for market transparency

Prime Minister Kyriakos Mitsotakis has welcomed the decision made by the Competition Commission on Thursday to impose fines totaling 41.7 million euros on five Greek banks, including four systemic ones, and the Hellenic Bank Association for engaging in concerted practices in interbank systems, payment, and electronic transaction services.

“It is compelling evidence that all state institutions can ensure the smooth operation of the market and competition for the benefit of the citizen,” Mitsotakis said on Friday during a meeting with President Katerina Sakellaropoulou at the Presidential Mansion, marking the last briefing for 2023.

In her remarks, Sakellaropoulou emphasized, “The cost of living remains the most significant challenge. It is crucial to convey the message that audit mechanisms are functioning.”