A PYMNTS Company

Greece: IMF: Lack of competition hurts greek fuel market

By  |  September 24, 2012

Lack of competition in Greece’s oil-refining industry is costing consumers here more than $1 billion a year, according to a draft internal report by the International Monetary Fund, in an indication of the deep structural problems that many economists believe are hobbling Greece’s chances of recovering its footing. Despite five years of recession, soaring unemployment and repeated efforts to open up its highly regulated economy, prices in Greece remain stubbornly high—a major obstacle to restoring its lost competitiveness and growth.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    Full Content: WSJ

    Related Content: EC Competition Law vs. Greek Competition Law: Conscious Parallelism or Unconscious Competition?

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.