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Alexis Tsipras Institute: We answer the government's myths about DEI with truths
🇬🇷 Greece /Economy & Trade

Alexis Tsipras Institute: We answer the government's myths about DEI with truths

From Ta Nea · (8m ago) Greek Critical tone

Translated from Greek, summarized and contextualized by DistantNews.

TLDR

  • The Alexis Tsipras Institute (INA) is challenging the Greek government's narrative on the Public Power Corporation (DEI), accusing it of promoting "myths" regarding the company's financial health and investment plans.
  • INA argues that the government's €1.3 billion investment in DEI's upcoming capital increase, intended for €24 billion in investments by 2030, lacks sufficient social return and prioritizes private gains over public interest.
  • The institute points to rising electricity prices for households and Greece's high energy costs compared to other European countries as evidence that DEI's current strategy does not benefit consumers or serve strategic public goals.

The Alexis Tsipras Institute (INA) has sharply contested the government's portrayal of the Public Power Corporation (DEI), directly confronting what it terms "myths" surrounding the company's financial strategies and the significant public investment involved. In a move that underscores the deep political divisions in Greece, INA has responded to recent government statements and media reports concerning former Prime Minister Alexis Tsipras's social media post, "The Big Scam." The institute asserts that the government's narrative selectively presents financial data to support DEI's investment agenda, while obscuring crucial aspects related to the public interest and the strategic objectives that public participation in DEI should serve.

We respond to the government's myths about DEI with truths.

— Alexis Tsipras InstituteThe core message of the institute's statement.

At the heart of INA's critique is the government's €1.3 billion contribution to DEI's capital increase, earmarked for massive investments totaling €24 billion by 2030. INA contends that this public funding, while framed as strategic, fails to guarantee a commensurate "return to society." The institute argues that the state should not act as a passive financier for private returns but as a strategic investor focused on measurable social benefits. This principle, INA insists, is paramount when the public sector assumes investment risks. Otherwise, the arrangement risks socializing risk while privatizing profit, a scenario deeply concerning for Greek taxpayers and consumers.

The state does not participate in the Company as a passive financier of private returns, but as a strategic investor with a purpose, who must ensure measurable social return when undertaking investment risk – otherwise it is socialization of risk and privatization of return.

— Alexis Tsipras InstituteExplains the institute's principle regarding public investment in DEI.

The institute backs its claims by highlighting the negative social impact of DEI's recent performance. INA points to a 46% increase in retail electricity prices for households since 2019, positioning Greece as the fourth most expensive country in Europe for electricity based on household purchasing power. Furthermore, the institute cites Eurostat data indicating that 18.1% of Greeks struggle to adequately heat their homes. These figures, INA argues, starkly contradict the government's claims of successful investment and strategic alignment, suggesting that DEI's current trajectory is not benefiting the average Greek citizen and is failing to meet essential societal needs. This perspective, deeply rooted in concern for the welfare of ordinary Greeks, contrasts sharply with the government's focus on corporate investment figures.

The retail electricity price for households appears to have increased by 46% compared to 2019 in absolute terms, while Greece ranks as the 4th most expensive country in Europe regarding the cost of electricity in terms of household purchasing power.

— Alexis Tsipras InstituteProvides data on rising electricity costs for consumers.
DistantNews Editorial

Originally published by Ta Nea in Greek. Translated, summarized, and contextualized by our editorial team with added local perspective. Read our editorial standards.

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