Prime Minister Kyriakos Mitsotakis announced forthcoming government intervention to address issues within the banking sector, speaking during a parliamentary debate on Thursday.
Mitsotakis highlighted concerns over high fees, low deposit interest rates, and slow housing loan approvals. “We’ve asked banks to react. Their response hasn’t satisfied us, so expect government action to address the core problems,” he stated.
Rejecting PASOK leader Nikos Androulakis’ proposal for a windfall tax on banks as a “firework,” Mitsotakis urged patience, promising his government’s detailed proposals soon.
On labor policy, he defended his administration’s record, noting that the minimum wage has risen from €650 to €830 during his tenure.
By 2027, the government aims for a minimum wage of €950 and an average salary exceeding €1,500. “We’ll not only achieve this but surpass it,” Mitsotakis affirmed, positioning Greece 11th among EU nations for minimum wage, “and not in last place as some often claim.”
Responding to calls for VAT cuts, he cited Spain’s experience, where reductions briefly lowered prices but ultimately led to cumulative increases, favoring intermediaries over consumers.
Mitsotakis emphasized “responsible fiscal policies” over uncosted populism, referencing OECD data showing Greece’s wage growth outpacing the organization’s average.
Mitsotakis concluded by reiterating his government’s commitment to balancing economic growth with support for vulnerable workers.