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Androulakis attacks New Democracy over high prices, loans and Turkey: “There are no calm waters”
🇬🇷 Greece /Elections & Politics

Androulakis attacks New Democracy over high prices, loans and Turkey: “There are no calm waters”

From Ta Nea · () Greek

Translated from Greek and summarized by DistantNews. Read the original for the full story.

At a glance

News Named sources New plan
  • PASOK leader Nikos Androulakis accused Prime Minister Kyriakos Mitsotakis and New Democracy of failing to address high prices, lacking transparency in public funds and taking a weak stance toward Turkey.
  • He proposed supply-chain checks, limits on excessive profit margins and a permanent tax mechanism for oligopoly windfalls.
  • Androulakis also outlined PASOK’s proposal allowing some borrowers to bid to repurchase loans from funds, and criticized both New Democracy and SYRIZA over nonperforming loans.

Nikos Androulakis used a speech on prices and household debt to launch a broad attack on Greece’s government and Prime Minister Kyriakos Mitsotakis. The PASOK leader said New Democracy had failed to contain rising costs, managed public resources without enough transparency and adopted a submissive position toward Turkey.

His sharpest criticism focused on food prices. Androulakis said food inflation had risen 40% since 2019 and rejected the argument that Greece was simply experiencing the same pressures as the rest of Europe. He said some services and basic goods in Greece cost up to 23% more than the eurozone average.

Food prices have risen by 40% since 2019, so the cost of food has risen by 40%.

— Nikos AndroulakisThe PASOK leader cited food-price increases in his criticism of government economic policy.

PASOK would inspect every stage of the supply chain to identify excessive profit margins, he said. The party also proposes a mechanism comparing Greek prices with those in other European countries and imposing a ceiling on profit margins. Androulakis called for a permanent system to tax excess profits earned by oligopolies, activated with independent authorities when margins rise without justification.

If you do not respect the consumer, you will not keep those additional profits. The state will take them through taxation.

— Nikos AndroulakisHe described his proposal for taxing excessive profits earned by oligopolies.

The proposal also extends to borrowers with nonperforming loans. Androulakis highlighted 11 PASOK commitments, particularly a right of first refusal for people who have already repaid part of a loan and have provided guarantees. Under the plan, eligible borrowers could offer to buy back their loan at a price higher than the fund paid for it, with the price based on factors including guarantees and repayments already made.

“When a fund buys it for 5 and the borrower buys it for 10, the creditor’s position does not worsen,” Androulakis said, rejecting the government’s claim that the proposal conflicts with European rules. He also accused SYRIZA of selling off billions of euros in nonperforming loans, extending his criticism beyond the current government.

When a fund buys it for 5 and the borrower buys it for 10, the creditor’s position does not worsen.

— Nikos AndroulakisHe defended PASOK’s proposed right of first refusal for certain borrowers.
About this summary

Originally published by Ta Nea in Greek. Translated, summarized, and contextualized automatically by DistantNews, with a note on how the source frames the story. Not individually reviewed before publishing. How this works.

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