They “search” seven supermarkets, the six price-gouging suppliers, the three Pitsili officers, a political quiz and INSIDE STORIES’ confirmation of Attica Bank – Economic Post –

Yesterday was his turn Minister of Development Takis Theodorikakos to inform the parliamentary group of the ND about the matters of his competence.

And because the accuracy front is burning…consumers as well as the government I kept his highlight on the ongoing price controls.

The same attending the parliamentary group reminded that these are checks on 26 large companies and on more than 2,500 product codes.

Seven supermarket chains

I looked, a little, to see what these companies are that are audited.

And a good source told me that among others it includes all seven major supermarket chains – that is, Greek Hypermarkets Sklavenitis, AB Vassilopoulos, Lidl Hellas, Metro AEVE,

Masoutis SA, Pente SA, Kritikos and others. And the same source told me that by November 10 the audit should be completed. You understand that the market is “holding its breath”!

Five plus one

At the same time, I learn that the discussions between the Secretary General of Trade and Consumer Protection Sotiris Anagnostopoulos with suppliers and retailers regarding the two-month price reduction project are also ongoing.

As far as I know, five plus one companies are responding, with a small number of codes, but it’s a start…:

These are Minerva SA – with only two codes – Unilever, which apart from cleaning products also “gives” food (Hellmans), Giotis, with several codes, ELGEKA and Procter & Gamble. All five companies have “given” a total of 48 codes! And in a few days Numil (baby food) will start. Companies have made bimonthly price reductions of 5% to 7%. And since then, the supermarket chains have put the … “something” up. The reductions in these codes can be greater than 13%! Other supply companies will also participate. I don’t know about it. Perhaps. What I do know is the chains are pushing more and more to get in the “game”. Will they succeed? It won’t be long before it shows….

—————————

Lace effect

I have been writing to you since September 30 that the effect of Giorgos Pitsilis in AADE it is big. As is the work he does.

I have informed you since October 11 that the “winning team does not change”. Of course for AADE (see here).

So the confirmation came about the renewal of Pitsili’s term for another five years.

The relevant provision will be included in the new bill of the Ministry of Finance.

The “officers” of Pitsilis

But the interesting thing now is who will be the 3 deputy commanders, that is, the positions that are being created.

Not so much for the 2 AADE officials, as for the third one, the one who will take over the communication, that is.

I won’t hide from you that the names of famous financial journalists are already making the rounds of the discussions, without this meaning that there is no unshakable favorite.

However, I would bet on the one who already has experience… That is, he has already invested in the position.

the “whip”

I also saw with interest the fines that will be imposed on the public bodies that have an obligation to post data for the completion of tax returns.

That is, AADE will impose a fine of 2,500 euros on the natural person who is responsible for the timely and correct sending of the data.

I would like to see the first civil servant to be fined for not sending tax return information to AADE on time.

Because big fines are nice, but their success will be judged in practice. That is, if they will be paid.

Penalty for Pitsilis as well

Of course, a fine is also foreseen for the AADE governor or the deputy governor for digital transformation, if the platform for submitting tax returns is delayed beyond March 15.

It will be of interest…

Gratuities

All of the above is fine, but on the tipping front, I see it…dark.

Dark…that is, in the black economy.

I’ll explain the mess. After we solved the issue of how you can pay with POS, we left the rest in the… shadow! In the black economy!

In fact, to a related question about whether even a single Greek declares income from tips, a clear answer was not given, although circles of the Ministry said that only workers on very expensive tourist islands declare a place so as not to be caught on suspicion.

Obviously up to the… limits.

Don’t forget… Mr. Hatzidakis also said that the taxation of tips has been in place for at least 30 years… the point in Greece is that the laws are not enforced, after all.

——————————–

In the air…

I will stick to the issue of construction and the new financial regulation, since it is almost certain the judgment of unconstitutionality by the Council of State.

And this is because there is chaos in the market.

Essentially, the state allows builders to build and sell, that is, take advance payments from prospective buyers, without anyone bothering to inform citizens of the risk they face.

Shouldn’t someone intervene? Maximus? The Ministry of Finance? The Department of Energy? Someone has to step in…

Because the contracts are made in contracts that are completely vague, while there are elements in the buildings that will obviously be considered illegal.

In the midst of a housing crisis…

Unfortunately, the government shows terrible inaction in this area, at a time when the housing crisis has brought many households to the limit.

Market executives do not hide their concern that we will see difficult situations if measures are not taken.

After all, as the data from the Bank of Greece also showed, the demand for housing loans decreased in the third quarter of the year, due to the level of interest rates and the wait-and-see attitude of households in view of the announcement of the subsidized housing program “My Home” II”.

——————————–

And a quiz… political

In this fuss (sic) that prevails in SYRIZA, there is a member of parliament, who has even dealt with the representation of the party in matters of economic policy, flirting with another party formation.

The strange thing is that this party is to the right of SYRIZA, but also… to the right of New Democracy.

——————————–

Confirmation

I don’t often bless my beard (which I don’t have), but I have to make a note how I had predicted you since yesterday about the “surprise” move in the increase of Attica Bank’s share capital.

So it was announced last night that Fiera Capital which manages over $116 billion in assets undertakes to participate in the bank’s AMC.

Vote of confidence

As a market person told me, Fiera is a fund that is invested in the long term, and therefore this is a “vote” of confidence in the management, in the transaction itself, the prospects of the bank and of course the country.

If nothing else, it demonstrates how AMK also attracts foreign institutional investors and indeed of high quality and level.

In addition, for the first time in the history of the bank, a fund of this category is entered, which points the way for the complete transformation of Attica Bank into a healthy and competitive financial group.

The administration

And of course Fiera’s commitment to participate in AMK comes to confirm the serious work of Attica Bank’s management and the cooperation over the last two years with the private investor, the HFSF and the government to create the 5th banking pillar and the attraction of private institutional funds.

Η Thrivest

I should also say how the entrance of Fiera Capital also had a passport: The Thrivest of Baku, Kaymenakis and Exarchos.

Thrivest’s investment opened the door to the big fund….