ECONOMY

Skourletis says Eldorado CEO shorted own firm’s shares

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Environment and Energy Minister Panos Skourletis made some scathing comments about Eldorado Gold chief executive Paul Wright on Tuesday, escalating tensions between the Greek government and the company that operates gold mines in Halkidiki.

In an interview with Bloomberg, Skourletis accused Wright of shorting his own firm’s shares in January and Eldorado of blackmailing the government and environmental authorities in Greece. “They are colonialists, not investors,” the minister said.

Eduardo Moura, the Canadian company’s vice president, dismissed the Greek official’s claims as “without basis and offensive,” while an Eldorado spokeswoman in Vancouver dubbed them “utter nonsense.”

Bloomberg noted that Eldorado’s share dropped 19 percent on January 12 upon Wright’s announcement that the company was suspending its investment plans in Greece, blaming the government.