NEWS

Another blow to Green Fund as president and board are dismissed

The president and the board of the Green Fund, which raises revenues from building violation penalties, have been dismissed via an amendment passed through Parliament recently, Kathimerini has learned.

The fund was created in 2011 with the aim of using the money it received, now close to 2 billion euros, for urban regeneration projects.

Last year, the government decided that its revenues could be used for other purposes because of the country’s dire fiscal position.

Now the government has sacked the board and president Costas Serraos, who was due to serve in his post until 2015. There are suspicions that Serraos will be replaced by a figure with strong political connections to PASOK, although the government has not commented on the matter.