PASOK comments on 'Germanos' case, market watchdog
The felony charges filed over Cosmote's acquisition of the electronics retail chain 'Germanos' were an embarrassment for the Capital Markets Commission after its attempt to 'close' the case through its decision on March 7, main opposition PASOK spokesman for economic issues Louka Katseli said on Monday.
"The management of the Competition Commission is either unable to exercise supervision or does not act independently as it ought but instead obeys orders and suggestions from above. In either case, through its lapse it has irreparably damaged the confidence of investors," she stressed.
She also pointed a finger of blame at the ruling New Democracy party over the repercussions that such manipulation might have on the development and smooth operation of the market, noting that it had taken the capital markets commission two years to arrive at a conclusion, after which it had imposed extremely small fines and had attempted to conceal the insider trading element but focused only on the "boosting of the stock price" in order to ensure that the culprits got off lightly.
The MP also noted that the market watchdog had not assigned any responsibility to the managements of Cosmote and Hellenic Telecommunications Organisation (OTE), which today found themselves up against breach of faith charges over the affair.
