After Rolling Back Fees, Greek Banks Probed for Collusion

November 8, 2019

ATHENS – Greece’s four major banks, who reversed fees and hikes after meeting with Prime Minister Kyriakos Mitsotakis, were raided by inspectors from the competition commission probing whether the institutions were working like a cartel.

That included an unprecedented surprise audit at the headquarters of all four, reports citing the confiscation of documents, hard drives and other data, said the business newspaper Naftemporiki of the move.

Other reports indicated there was an investigation underway over where the hikes in fees added on to a variety of routine bank transactions – such as printing a deposit’s balance from an ATM – were coordinated and agreed to by the banks acting in collusion.
While the hikes were rolled back, the banks said that didn’t mean they wouldn’t be reinstituted at some point although they backed down after Mitsotakis squeezed them

Mitsotakis said “the government cannot possibly accept these increases,” and called them “unjustified, especially in a financial climate that is much better,” according to a briefing by the premier’s office, the state-run Athens-Macedonia News Agency ANA-MPA reported earlier.

His office office said that bankers justified the rise as a way of encouraging the use of e-banking, in which they had invested heavily. They first committed however to review the fee hikes, especially in remote locations where there is a single ATM for use by local residents before saying they wouldn’t be imposed, at least for now.


ATHENS - Users of the Viber call and text messaging app in Greece made 1 billion calls in 2021, Rakuten Viber revealed on Thursday.

Top Stories


ASTORIA – The Pancyprian Choir of NY held its first meeting of 2022 and shared best wishes for the New Year with their annual cutting of the traditional vasilopita at Dionysos Taverna in Astoria on January 24.


BRONX, NY – In a festive atmosphere, the traditional cutting of the vasilopita was held by the Northern Chios Society of Pelineon Agia Markella in the community hall of Zoodohos Peghe Greek Orthodox Church in the Bronx on January 23.


ATHENS – A major snow storm that had been predicted for days still caught residents in Greece offguard and the New Democracy government scrambling for answers as to why motorists were stuck for hours on major roads.


Democrats Eye Supreme Court Pick to Revive 2022 Prospects

Democrats stung by a series of election year failures to deliver legislative wins for their most loyal voters hope they'll be buoyed by the prospect that President Joe Biden will name the first Black woman to serve on the Supreme Court.

Enter your email address to subscribe

Provide your email address to subscribe. For e.g. abc@xyz.com

You may unsubscribe at any time using the link in our newsletter.