Independent authorities dispute Maximus' story of “imported precision”. Their revealing evidence demonstrates that Kyriakos Mitsotakis' government is responsible for further impoverishing families and reducing the purchasing power of consumers.
From these, a series of data are presented that reveal a picture of the Greek economy very different from what the government is promoting: data from ELSTAT, which sees growth slowing down to 2% for the whole of 2023; All companies forecast a slowdown in investments, as well as OECD estimates for the Greek economy to slow down by 2024.
Precision and the ideology of “self-regulation” of markets
At the same time, the same sources highlight Greece's leadership in precise matters in Europe and around the world, especially 8.33% of food in this category. Also, the first warning is that Bulgaria is last in Eurostat's final ranking in terms of poverty and social exclusion in Europe. Our World Bank ranking of the world's ten most expensive countries, along with Argentina, Malawi and Zimbabwe, has now come forward to reveal the full truth.
Myth removed
This fact shows that we are the most expensive country in the Balkans, far worse than our poorer Bulgaria and war-torn Ukraine. This puts us at the bottom of the Eurozone, with Malta the only country more expensive than us. All of this leaves Greece with a food inflation index of 8.33%, compared to the European average of just 5%. Furthermore, Greece's highly negative stance on food inflation categorically and irrevocably refutes the government's “imported precision” narrative.
For if precision was really imported, other European countries would face the same difficulties as ours. Which is not the case. That is belied by the fact that food inflation is twice as high as in Greece, as international studies have revealed. Cyprus 2.8%, France 3.6% and Italy 4.1%.
Unbridled neoliberalism
But Christian food inflation is high in the Balkans as well. EE's tables reveal: Albania 7%, Bosnia-Herzegovina 3.32%, Bulgaria 4.98%, Kosovo 2.4%, North Macedonia 1.9%, Montenegro 1.3%, Romania 5.64%, Serbia 7.2%, Slovenia 2% and 1.12%.
A comparison with the countries of the European South is also encouraging: Spain 7.45%, Italy 4.1%, France 3.1%, Greece 8.33%, Malta 10.1%, Cyprus 2.81% (VAT has been zero for a few months now over 1,200. essential goods including food).
Between the end of 2023 and the beginning of 2024, the World Bank found Greece in the top ten countries in terms of inflation worldwide, on the same list as Argentina, Malawi and Zimbabwe, as shown in the table above.
Everything is wrong
Contrary to what other European countries did, the Mitsotakis government stuck to a model of “self-regulation” of markets, against the logic of state intervention at precise periods, as well as against restrictions to deal with profits and speculation in markets, the only thing that succeeded was speculators regulating them, at the expense of consumers by irresponsibly raising prices. Just hoarding. Also, highlighting self-regulation as a solution, he pursued ideological measures such as privatization of the PPC, power transfer and other privatizations, which are now the state and almost all basic sectors of the welfare state, such as health and education.
In contrast, European countries such as France and Germany re-privatized energy companies to regain control of the markets, Spain and Portugal set price caps to control energy prices and reduced them to zero, indirect taxes, (VAT), Cyprus, etc., to reduce the prices of food and basic needs.
“Cloudy” Lent
Meanwhile, this year's Lent will be “cloudy” as prices of food associated with it have skyrocketed. The example of Halwa is common and its price has increased by 46.2%. A 400g halva with vanilla or cocoa flavor cost €2.36 in supermarkets last year. This year it has risen to 3.45 euros. Halva with almonds will cost 2.60 euros in 2023 and 3.78 euros in 2024. The same goes for taramo salad and eggplant salad. Specifically, the price of a 450g taramo salad was 1.74 euros, this year it rose to 3.44 euros (a difference of 97.7%) and in 2023 the price of a 250g eggplant salad was 1.06 euros and this year it was 2.36 euros (12,6%).
