I worked in Greece for a couple of years. One thing that came is a surprise is that your employer chooses which bank you are to use and it’s only that account that they’ll pay your salary into. How can you have effective completion when the customer has no role in choosing the provider?

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my main gripe is section#8. Loans go to large enterprises because in a country where 70% of small business declare less than 10,000€ (guess why! :)) they are the only ones credit worthy. The practical effect is that with ECB rates at 2+% I pay less interest that I did in 2019 (with 0% ECB rates)

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everything else is glass half-full. I think a lot of problems would be solved if 1) BoG cared (and issued guidelines clarifying requirements and against Kafkaesque bureaucracy) 2) an account retaining fee, common practice abroad, was common, so that they didn't have to worry about micro-charges

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Putting aside some minor disagreements (the kind of glass half-full/half-empty kind of ones) this is a great read packed with charts

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Me on this week's dress rehearsal for a proper AI reckoning 300 free clicks- as.ft.com/r/652f6bc3-7...

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