Stournararas (TTE): It is possible to reduce the maximum VAT rate 24%

On the increase in competition, he was interviewed by his commander, Giannis Stournaras. As the Governor of the Bank of Greece points out in an interview with the First The theme ‘the large concentration also leads to high prices. That is why we see relatively higher prices in Greece than those in the Eurozone in several goods and services. This also results from Eurostat’s recent finding that while GDP per capita in Greece is 67% of the EU average, its price level is 88.2% of the respective average. So we’re more expensive than other countries than our income. That is why accuracy in Greece is a serious problem in several households. Of course this is not a recent problem, but it comes from the past.” That is why it argues that, under conditions, it is possible to reduce the VAT rate 24% , which is one of the highest in the euro area. However, as he argued, priority is not to reduce VAT, but to reduce social security contributions at work. On the issue of competition in the banking system and the low interest rates on deposits offered by Greek banks by the TTE commander argued that banks are free to charge deposits and loans in accordance with the laws of supply and demand, while respecting the supervisory framework. However, the Bank of Greece can, by contributing to the strengthening of competition, create more competitive pricing conditions by strengthening smaller banks, which, either alone or merged, will contribute to increasing competition in the banking system. As he pointed out, the creation of the fifth banking city in the banking system by merging Attica Bank and Pagretia with the simultaneous resolution of their balance sheet by using the state guarantees offered by the programme “Herakles 3”. Referring to the next moves Mr. Stournaras reiterated that reducing interest rates four times this year, from 25 basis points at a time, is possible. With information from RES – ICM