In Brief
Banking Ombudsman endorses most complaints Complaint calls to the Banking Ombudsman (TM) rose 24.5 percent to 1,369 in the first quarter of 2002 compared to the same period last year, and written complaints increased 26.7 percent to 199, the TM bureau said yesterday. Credit cards are the main source of complaints, followed by loans, deposits and securities. The reasons cited are mostly inadequate or erroneous information and delays. Of the cases examined in the above period, 72 percent were judged in favor of bank clients. Complaints should be addressed to PO Box 3391, 102 10 Athens, or reported by calling tel 010.337.6700 from 8.30 a. m. to 2.00 p. m. weekdays. Instructions for filing complaints may also be obtained from a recording at the same number on a 24-hour basis or on its website, www. bank. omb. gr. Chamber critical of calling off Helexpo privatization Thessaloniki’s Chamber of Commerce and Industry (EBETH) yesterday reacted negatively to the government’s announcement Wednesday night that it was suspending the privatization process for Helexpo, the trade fair company based in the city. «There should have been prior discussions with the city’s public bodies,» said EBETH Chairman Dimitris Bakatselos, who also called on the city to rally toward submitting a credible bid for the 2007-8 World Expo. Consumer rights The European Court yesterday condemned France and Greece for inappropriately applying a directive setting a minimum of 500 euros of material damages as a limit for anyone to claim compensation for faulty goods directly from the producer. The court said the two countries had wrongfully abolished the minimum, necessary to prevent an excessive number of claims for small damages being addressed to retailers. Pensions Pensions absorb 12.7 percent of Greece’s GDP and represent 51.4 percent of all social spending – the second highest rate in the EU after Italy’s 62 percent, according to 1999 data released by Eurostat in Brussels yesterday. Old age accounts for 66.8 percent of the total cost of pensions, disability for 6.3 percent, widowhood for 6.4 percent and other causes, such as early retirement, for 20.5 percent. Ernst & Young – Andersen merge The Greek subsidiaries of auditing firms Ernst & Young and Andersen are to merge, in line with their affiliates worldwide, the two companies said in a joint press release yesterday. The new company will be called Ernst & Young. Exchange closed May 1 & 7 The Athens bourse will be closed on May 1, in line with other markets, and May 7, as the May Day holiday has been officially transferred to this date, according to a statement yesterday. Private insurance The exclusion of insurance companies from the «second pillar» of social security, which involves private group insurance schemes widespread elsewhere in Europe, holds a risk of fund outflow abroad, managing director of Alpha Insurance, Dukas Palaiologos, said yesterday.
