“According to studies by the Bank of Greece, we have oligopolies in food, fuel, banks and private hospital care.” This was not stated by some… left-wing economist, but by the Governor of the Bank of Greece, Giannis Stournaras himself.
In his interview with mononews.gr, Mr. Stournaras, who has passionately defended memorandums and anti-popular policies, probably understands that accuracy goes no further. That the system is crashing. In every developed economy, oligopolies are the target of every government that wants sustainable development.
His statement is also an indirect criticism of the Mitsotakis government, which subsidizes oligopolies (e.g. with the deferred tax on banks and the non-taxation of excess profits) contributes to the creation of cartels, in banks, in food, in fuel and in the private hospital care. And in energy, we would add.
Prime Minister Kyriakos Mitsotakis has chosen a camp. With the few. At the expense of the Greek household. He has made “imported precision” “candy” while big business conglomerates break one profit record after another and amass billions just by arbitrary price increases. The inflation of greed.
The question and the answer of Giannis Stournaras
Q: Mr. Stournara, is there concentration in the banks, does competition work?
AP: There are industries that clearly have an oligopolistic structure and this is proven by the spreads and margins. Greece needs more competition, because according to studies by the Bank of Greece, we have oligopolies in food, fuel, banking and private hospital care.
So we need more competition in the banks too. To empower the smaller banks, and where they can merge so that the new schemes cause greater intensity of competition in the banking system. We need the 5th banking pillar.
The entire interview on the Bank of Greece website
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#Stournaras #oligopolies #food #fuel #banks..
