Greece fines 2 multinational companies for excessive profit margins

Dealing with inflation, especially greedflation, is primarily issue of social responsibility, says development minister

By Ahmet Gencturk

ATHENS (AA) - Greece fined two giant multinational companies for excessive profit margins, announced the development ministry on Thursday.

The maximum fine of €1 million ($1.07 million) for each was imposed on subsidiaries of Procter and Gamble and Unilever after inspections by Interagency for Market Control (DIMEA) units revealed that they had violated recent laws on curbing phenomena of unfair profit-taking, a statement by the ministry read.

The Development Minister Kostas Skrekas said, "We have made clear in all tones and in all directions that nobody is above the law. We are determined to implement the law to avert profiteering and to boost healthy competition for the benefit of Greek families. Everyone needs to be aware that the situation is critical and of the difficulty households face in accessing basic consumer goods."

"Dealing with inflation, and especially greedflation, is primarily an issue of social responsibility but also for ensuring society's cohesion," he added.

Kaynak:

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