Takis Theodorikakos: Ongoing market interventions to protect consumers

“We have taken measures to intervene in the market in order to make it fairer and more affordable for the citizens who need it most. Such measures have not been taken anywhere else in Europe. No other Greek government in the past has imposed a cap on profit margins for food and basic necessities, neither PASOK nor Mr. Tsipras’s SYRIZA. It is highly interventionist and has so far led to price reductions on hundreds of products,” the minister emphasized, speaking on ERT. 

Mr. Theodorikakos emphasized that “we implemented this measure for fuel as well, for the duration of the war. Now the basic plan is to lift this measure, because if it is confirmed that the war in the Middle East is coming to an end, the fuel market will stabilize.”

At the same time, he emphasized that “I am in constant dialogue with the food industry and supermarkets to reach a national social agreement on price reductions, and I am awaiting their latest proposals. It will take 3–4 days to make the relevant announcements. I am interested in ensuring that these are basic products that are essential to Greek households. Otherwise, the price cap measure will have to remain in place because we have no other way to control the market.”

The minister also addressed criticism from the opposition regarding the new digital platform PosoKanei, noting that “It’s a real shame that things that should be self-evident in this country become the subject of cross-party debate and criticism. I understand that we’ll have elections in a few months and the opposition has to say something. We’ve created an interactive platform that includes all the supermarkets; prices are updated at least once a day, and when someone wants to go buy the products they want, they know where to find them cheapest . This is something consumer organizations should have done themselves, but in the end it was created by the new Independent Authority, which conducts strict inspections, enforcing the legislation we have passed, because we want citizens to be protected and for there to be a safety net.”

Mr. Theodorikakos also noted that the government stands with citizens and is fully aware of the issues that concern them. “Measures that ease the burden on borrowers lead to lower installments, while a bill from the Ministry of Development—currently under public consultation—addresses consumer credit, protecting citizens from abusive banking practices. These are things that society sees and understands, and it is our job not to become complacent but to strive to make things better for all citizens.”

The Minister of Development also emphasized that “our job, in addition to the creative work we must produce, is to stand by our citizens and society, to listen to their opinions and criticism, to keep our eyes and ears open, and correct our mistakes and shortcomings.”

Finally, when asked about former Prime Minister Antonis Samaras, he expressed the view that “I believe there will be no party led by Mr. Samaras. Because I want to believe that a man who served as leader of New Democracy and prime minister of the country has no reason, toward the end of his political career, to do anything that would harm the party. He must not form a new party, and I believe he will not. Let us keep the paths of unity strong.”