ELAS (Hellenic Left Coalition), the new political party led by Alexis Tsipras, has launched a sharp critique of the government’s handling of the cost-of-living crisis. The attack comes in response to today’s (29 June 2026) meeting at the Maximos Mansion and the government’s decision to lift the cap on profit margins for essential goods.
“Another Admission of Failure”
In its official statement, ELAS describes the move as “another admission of failure.” The party argues that citizens don’t need more meetings — they need concrete answers to mounting price pressures on household budgets. ELAS directly challenges the government’s narrative of effective market intervention, raising four pointed questions and intensifying its criticism of rising living costs.
Four Key Questions to the Government
First, ELAS asks why the government is scrapping the profit-margin cap — if the measure was successful, why end it? And if it wasn’t, why was no official evaluation ever published?
Second, the party demands clarity on the so-called “2,000 product codes” whose prices the Development Minister claimed were reduced by 6%. ELAS responds with pointed irony, noting that neither Greek households nor Eurostat appear to be familiar with this list.
Third, ELAS contests the government’s argument that inflation is driven primarily by imported price pressures. It highlights that Greece’s May 2026 inflation rate stood at 4.9%, compared to 3.2% across the eurozone — suggesting domestic factors are at play.
Fourth, citing data from the Bank of Greece, ELAS asserts that the latest inflationary surge — particularly in the first quarter of 2026 — stems mainly from widening corporate profit margins, not external shocks.
A Call for Real Action
Based on these points, ELAS insists that tackling inflation cannot rely on “gentlemen’s agreements,” but requires robust market oversight, meaningful regulatory intervention, and political will to confront profiteering.
The party’s statement concludes with a succinct, resonant line: “Citizens want a cheaper basket at the supermarket — not costlier excuses.”
Background: The Price Cap and the “Freeze” Agreement
Prior to today’s announcement, Prime Minister Kyriakos Mitsotakis chaired a meeting at the Maximos Mansion with senior ministers and representatives from the food industry. Following the talks, Development Minister Takis Theodorikakos announced a two-month freeze on retail prices for basic consumer goods — part of what the government calls the “National Social Agreement.”
According to the Ministry of Development, this agreement also includes the previously cited 2,000 product codes — which, under the government’s version of events, saw average price reductions of 6% over recent months due to the now-expired profit-margin cap.