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LARCO, bank mergers and 3 more hot issues on the agenda of the Greek Finance Ministry

(ΚΟΝΤΑΡΙΝΗΣ ΓΙΩΡΓΟΣ EUROKINISSI)

All five issues have been "dragging" for a number of years, but it is time, they say, to be resolved.

The Ministry of National Economy and Finance has five “hot” issues to deal with this summer.

According to ministry officials, all five issues have been “dragging” for a number of years, but it is time, they say, to be resolved.

It will be a “difficult summer” for Finance Minister Kostis Hatzidakis, they explained, adding that the minister is “not afraid of the political cost.”

These issues are the following:

1. The modernization of eight public enterprises of the Superfund base don the “PPC model”, aiming at improving services to citizens.

2. The agreement for the increase of the share capital of Attica Bank and its merger with Pancreta Bank, which creates the basis for the establishment of the fifth banking pillar. The agreement was signed last Thursday and the relevant legislation has already been submitted to Parliament.

3. LARCO. Its production process has been suspended since the previous August, while on May 12 the contracts of the workers should have been suspended, but there was an extension, due to an appeal by the unions. Finally, the court decision came out on Friday and vindicates the government’s plan. So, the contracts must be terminated immediately

4. The Hellenic Defense Systems (EAS). The company, with accumulated losses of 1.8 billion euros, in 2023 had a turnover of less than 5 million euros and losses of almost 30 million euros. This week the agreement with the Czechs Czechoslovak Group (CSG) is expected to be finalized.

5. The dispute between the Greek government (ETAD) and the Mantonanakis group over the Grand Resort Lagonissi.