Greek Government Warns Banks Over Fees, Threatens State Intervention

The Greek government has issued a stern warning to banks, threatening state intervention unless they decrease the fees they impose on clients for various banking services.

During the annual general assembly of the Hellenic Banks Association on Tuesday, Minister of National Economy and Finance Kostis Hatzidakis emphasized that the unresolved issue of bank fees benefits neither the banks nor the government or society at large.

Hatzidakis urged Greek banks to adopt more equitable fee structures akin to those practised by other European banks or major businesses operating in Greece. He stressed the importance of banks taking proactive measures to avoid governmental legislative action.

On a cautionary note, Hatzidakis recalled a previous instance where banks had pledged compliance after government criticism, only to subsequently raise fees for online banking transfers from 0.50 to 0.60 euros.