NEWS

Profits here are unheard of in other countries of Europe

Unfortunately a high cost of living is not a new phenomenon. For years we have been protesting that there is no justification for selling multinationals’ products at prices that are 10-200 percent more than in other countries. One only needs to look at firms’ balance sheets. In Greece they earn profits that are unheard of anywhere else in Europe. In a study by SESME in 25,000 supermarkets throughout Europe, considerable price variations were found. Prices in Greece are on average 12 percent higher than in Germany. If compared to wages, it is easy to see how Greek consumers are being robbed. Measures that are taken elsewhere are not imposed here, such as banning sales below invoice price. The manufacturers themselves, such as dairy firms, should change the way they distribute their products and not use their own means of transport, a factor that accounts for a considerable cost and is passed on to the customer. In Europe, there are measures to protect small and medium-sized firms. When the needs of a district are met by existing stores, opening a new supermarket not only limits turnover but the competition creates costs that are passed on to the consumer. Apostolos Alexakis is president of the Association of Supermarkets (SESME).