Greek Finance Minister Addresses Tobacco Tax, Savings Union, and Stablecoins at EU Meetings

• Greek Finance Minister Kyriakos Pierrakakis participated in Eurogroup and ECOFIN meetings in Luxembourg addressing key issues for Greece and the European Union
• Regarding tobacco taxation, he warned that excessive tax increases lead to increased smuggling and market disruption, suggesting longer transitional periods for implementation
• On the Savings and Investment Union, he emphasized the need for faster implementation of European capital market integration to reduce opportunity costs of delays
• Greece supports cross border mergers and acquisitions, stating that Europe needs European champions rather than just national ones from member states
• He cited three examples of cross border deals in Greece within seven months, including Euronext’s proposal to acquire the Athens Stock Exchange and UniCredit’s activities

Source: minfin.gov.gr

Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.

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