Dev. Min.: At the end of the year, the conclusion of the Competition Commission for banks

The conclusion-verdict of the Competition Commission is expected around the end of 2022 for a possible violation of the competition principles by the systemic banks, according to the Minister of Development and Investment ‘Adonis Georgiadis.

Answering, in Parliament, a topical question of the SYRIZA MP Haris Mamoulakis, on “Obstacles to the work of the Competition Commission in bank audits”, Mr. Georgiadis said that the Commission’s investigation, based on its usual rhythms, which correspond to relevant international schedules, will be delivered by the end of the year.

“I will institutionally await the conclusion of the Commission and when this is given me I will act according to the provisions,” said Mr. Georgiadis.

For his part, Mr. Mamoulakis said that the finding is crucial and called on Mr. Georgiadis to make a request to the Commission to expedite its completion. He even noted that, just yesterday, during the briefing of the competent parliamentary committee, Consumer Ombudsman Lefteris Zagoritis stated that for the last three years there has been an blizzard of reports and citizens ‘complaints against the banks’ practices.

In response, Mr. Georgiadis said that from the moment the Competition Commission began its investigation, a request for control by him would be considered “interference”. At the same time, he characterized SYRIZA’s interest as hypocritical, since, as he said, that during SYRIZA’s five years in power and despite public outcry against bankers and usurers, not a single euro fine was imposed, and there was no control of banks.