The Minister of Development, Kostas Skrekas announced Tuesday that the competent watchdog had imposed a € 561,000 fine on a dairy products company for violating fair market practices.
FRIESLANDCAMPINA HELLAS S.A is the latest in a series of businesses that have incurred monetary fines after breaching Article 54 of Law 5045/29-07-2023 regarding the restriction of unfair profit practices. The decision was made following inspections conducted by the Market Control Unit (MCU).
After thorough audits of a bevy of product codes, it was determined by the market watchdog that the aforementioned company had violated nine codes, including exceeding the permitted limits of baby formula profit margins set by Greek legislation.
Commenting on the fine, Minister of Development, Kostas Skrekas, said that the Greek state meant what it said regarding clamping down on illicit profiteering. “Today, we announced a substantial fine on one of the most well-known companies specializing, among other things, in baby formula. The monitoring mechanisms of the Ministry of Development are in constant readiness. No unfair profit practices will be tolerated. Supporting families is a priority for our government. Combating profiteering in infant milk, as evidenced by the new measures approved by Parliament, is our duty.”
Source: tovima.com
Latest News
Bank of Greece Governor Says EU will Retaliate to Trump’s Tarrifs
The Bank of Greece Governor defended the independence of central banks amid criticism from U.S. President-elect Donald Trump, who had publicly commented on Federal Reserve Chair Jerome Powel
September in Greece Winning Tourists Over from US, Germany
Tourists continue to visit Greece off-season into Sept. with the number of inbound travelers up by 6.6% and a 7.9% rise in travel receipts.
Bitcoin Surges Toward $100K Amid Pro-Crypto Optimism in US
According to Reuters, the cryptocurrency surged to an all-time high, briefly exceeding $96,898 during Asian trading hours.
Greek Driver Violations at a Touch of a Button
Traffic offences recorded in the last five years by Greece’s “Driver Behavior Control System” are now available on Gov.gr Wallet
Milan Tops List of Most Expensive Streets, Athens’ Ermou Holds Steady at 15th Place
In Athens, following Ermou Street is the southern suburb of Glyfada and Tsimiski Street in Thessaloniki.
New Gov.gr Service Enables Secure Reporting of Minor-Related Delinquency
It should also be noted that via the recently introduced initiative ‘Safe Youth’ application citizens have access to specially tailored informative material regarding the safety of children and adolescents
Thousands Strike in Athens Over Soaring Living Costs and Stagnant Wages
Inflation, particularly in food prices, has been crushing Greek households
Greece Overhauls Property Valuation System
Greece plans to launch a revamped property value registry in 2025 and overhaul the way objective values are calculated to enhance tax revenue and improve transparency.
Greece’s New Tax Bill Foresees Tax Relief Beyond Big Business
Tax relief measures in Greece are proposed for freelancers, property owners and farmers, along with 'big business'
Unions Call Nationwide Industrial Strike for Wed.
Mass transits are usually affected, especially in the greater Athens-Piraeus area, although bus and metro services are curtailed but not fully halted