The Hellenic Competition Commission is organizing a webinar on Monday, September 11th, 2023, at 16.00 – 18.00 (15.00 – 17.00 CET) on the subject of "Inflation, Greedflation and Competition Law". The webinar is open to the public via livestreaming, and accessible via the HCC ‘s website at www.epant.gr/en/inflation.
Abstract
Wherever you live in Europe, you are likely currently experiencing cost-of-living concerns fueled by inflation rises. IMF has recently revealed that corporate profit margins accounted for 45% of inflation in Europe since the start of 2022, with 40% of inflation due to import prices and only 25% due to salary raises. The idea that excessive profits may drive inflation has become known as greedflation. Christine Lagarde, the President of the European Central Bank, has suggested that it is important for Competition Authorities to look intothese practices to fully understand what is happening. Others, like the Bank of England, have claimed that “firms increasing prices to raise their margins is not currently a significant contributor to inflation”.
In this webinar organized by the Hellenic Competition Authority, we aim to analyze the issue of inflation, greedflation and competition law, and what competition authorities can do with regard to this phenomenon, since competition law must ultimately serve consumers’ interests. The event will be broadcasted live from the HCC’s Expo booth at the 87th Thessaloniki International Fair.
The webinar, which will be held part in English (panel 1) and part in Greek (panel 2).
The programme of the Webinar:
16.00 (15.00 CET) Opening address: I. Lianos, President of the HCC, Professor
16.10 (15.10 CET): Panel 1: Greedflation: Problem and Solution provided also by Competition Authorities (in English)
Moderator: I. Lianos, President of the HCC, Professor
Panelists
Jan Eeckhout, ICREA Research Professor, Universitat Pompeu Fabra
Damien Gerard, Competition Prosecutor General, Belgian Competition Authority
Rikard Jermsten, Director-General, Swedish Competition Authority
Augustin Reyna, Director of Legal and Economic Affairs, European Consumer Organisation, BEUC
Lluis Sauri Romero, Acting Chief Economist, Directorate-General for Competition, European Commission
Tina Søreide, Director-General, Norwegian Competition Authority
17.00 (16.00 CET) Panel 2: Greedflation, Competition and the Greek Economy (in Greek)
Moderator: H. Nikolopoulou, Vice-President of the HCC
Panelists
Athanasia Gavala, Director General of HCC
Adromaxi Delikostopoulou, Lawyer, LL.M EXON, PhD EXON, Legal Advisor of Consumers’ Association “The Quality of Life” (EKPIZO)
Ε.Kekeleki, Secretary-General, Consumers' Protection Center (KE.P.KA.) Deputy member of Economic and Social Council of Greece (O.K.E)
Ch. Milliou, HCC Board Member, Professor, Department of International and European Economic Studies, Athens University of Economics and Business
Α. Petalas, General Manager, Supermarket Association of Greece (ESE)
A. Stavrakoudis, Associate Professor of Computer Simulation, Department of Economics, University of Ioannina
I. Stefatos, Economist, Member and Rapporteur of the HCC
I. Christodoulaki, Head of the Market Mapping and Research Unit, HCC
Conclusions: I. Lianos, President of the HCC, Professor
