PASOK turns back the clock

Sometimes, the main opposition party behaves as it did back in the 1980s. One of the most recent examples of PASOK hyperbole was when its parliamentary representatives wound back the clock by reacting vehemently to National Bank’s announcement that it was renewing the contracts of its high-level management. We are all aware that National Bank is no longer a typical state-run bank; in fact, it is nowhere near being such an institution. To a great degree, this is due to the policies carried out by former Prime Minister and PASOK leader Costas Simitis during the course of two administrations. Simitis managed to wean the banking system off practices which favored special interests and to rid it of mismanagement at the hands of politicians. With its most recent stance on the issue, PASOK has returned to a rhetoric that belongs firmly in the past and appears to ignore the changes that the country’s banking system has undergone as well as the realities of the market today.