The Greek Deal.com
Βanks have an obligation to support the real economy | TheGreekDeal.com
Kyriakos Mitsotakis
Βanks have an obligation to support the real economy
Prime Minister Kyriakos Mitsotakis said during an interview that the banks have an obligation to lend more to the real economy.
Newsroom
TIME TO READ
1 min
Prime Minister Kyriakos Mitsotakis

"Greece is coming out of a crisis, so incomes were much more depressed from the beginning than they were in Europe. This was the result of a decade-long crisis." This is what Prime Minister Kyriakos Mitsotakis said, among other things, regarding the accuracy and incomes in Greece, during an interview with ANT1.

He reiterated that accuracy "is not only a Greek phenomenon; it is also a European phenomenon,"  while regarding wages, he claimed that "we remain low, but at least we are improving at a faster pace than in the past.".

Regarding the banks, the Prime Minister said that "no country has taxed the banks. Italy, which tried to do it, took it back in a flash. Leave aside that our banks also have a technical issue, which is the deferred tax. It is an accounting treatment of past losses that, in effect, nullifies any notion of taxing the banks' profits. But at the banks, there is another issue. Right now, the banks have to consider that their commissions are very high—to be absolutely sure that competition is working in the banks, and that is the responsibility of the Competition Commission—and they also have to realize that in addition to the government, which is putting out programs like My House, the banks have an obligation to lend more to the real economy. They should, for example, make programmes themselves, without state support, for young couples who want to buy a house. I understand why the banks, from a balance sheet point of view, need, as I have explained, to account for these profits. But this cannot be an alibi for practices that could sometimes even be described as abusive".

READ ALSO