Greece legislates measures to combat rising prices

09:04 24/5/2024 - Πηγή: iEfimerida

Greece’s parliament has approved legislation designed to tackle soaring living costs.

The legislation, advanced by the Ministry of Development, was approved by the majority of Greece’s 300-seat parliament. It focuses on “strengthening consumer protection, ensuring smooth market operations, and supporting businesses affected by natural

disasters.”

Development Minister Kostas Skrekas said the move included structural measures designed to address the root causes of inflation, profiteering, and unfair market practices.

The aim, he said, “ is to protect consumers from the high cost of living, enhance transparency, facilitate investments, and further support businesses that have been impacted by natural disasters.”

The opposition parties largely voted against the legislation, billing the measures “hasty” and “piecemeal.” They said they ultimately served to increase excessive profits of multinational corporations at the expense of Greek consumers.

The government has countered rising prices with legal interventions, including price controls on essential goods and profit margin caps on specific products, to alleviate the economic strain on its populace.

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