Banks roll back new charges

Greek banks have caved in to government pressure, freezing customer charges for a series of banking services, at least until the end of the year.

While Development Minister Adonis Georgiadis said on Thursday in Parliament that this suspension will only apply over the next couple of months, its actual duration will be determined by the decisions each bank makes in the next few weeks, following Prime Minister Kyriakos Mitsotakis' demand last week for more rational charges. Government officials argue that the suspension will apply until further notice.

Georgiadis went on to threaten to take banks to the Competition Commission if he spots any cartel practices in the imposition of charges. For the time being there has been no such complaint to the watchdog, but this cannot be ruled out if the charges are seen to have been imposed simultaneously by banks.

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