Mitsotakis intervention: “Cutter” within the accuracy of multinationals 2024-05-21 13:57:43

As he stated yesterday in an interview with the TV station SKAI, he’s making ready a letter to the President of the Fee, Ursula Von der Leyen, with which he’ll request European intervention in an effort to clarify to the multinationals why they worth the identical merchandise in a different way in numerous markets. “And Europe there has the likelihood to normatively intervene, as a result of it is vitally troublesome for a person nation to place a framework on multinationals that promote to all European nations,” stated the prime minister.

Focused

Furthermore, along with the intensive controls carried out by the Interagency Market Management Unit of the Ministry of Growth, multinationals have additionally been focused by the Competitors Fee just lately. Because it seems from the sectoral analysis he has carried out, a big worth hole is noticed in detergents, which in Greece are bought as much as 361% costlier than in different European nations, whereas in child milk the variations even attain 213%! Nevertheless, following the implementation of the anti-punctuality measures which got here into pressure from 1the March and embrace, amongst different issues, a 30% “cutter” in promotions with a corresponding discount within the preliminary costs on the shelf for classes comparable to detergents, private hygiene gadgets, child diapers and cleansing costs, the costs have fallen, however they’re nonetheless removed from these of the others EU nations

Crash take a look at

In accordance with an investigation carried out by “E.T.” evaluating the costs of the identical detergents from giant digital supermarkets in 6 completely different nations, Greece is within the two most costly markets.

For instance, the dishwasher tablets of a well known multinational firm are bought in our nation 130% costlier than in “costly” England and 112% costlier than in Italy. A bundle of 26 tablets prices 13.96 euros in Greece (from 15.98 euros earlier than the measures), whereas in the UK a bundle of 51 tablets – that’s, virtually twice as many – is obtainable on the worth of 11.5 euros (together with conversion from British kilos to euros) and in Germany the 50 tablets are bought for 12.55 euros. In brief, the Greeks pay 0.53 euros for one pill, the English 0.23 euros, the Italians 0.25 euros, the Germans 0.29 euros, the French 0.30 euros and the Spanish 0.37 euros. After all, it’s price noting that the multinationals, though they’ve detergents in all sizes, promote completely different sized packages in every market they function in, i.e. there isn’t a precise correspondence between the packages.

The value of liquid detergent for laundry garments is correspondingly excessive, with the distinction between Greece and the most cost effective nation, on this case England, reaching 75%. Thus, liquid detergent (70 scoops) prices 19.45 euros in Greece, i.e. 0.28 euros per scoop, and in Nice Britain the identical detergent in a barely smaller amount (51 scoops) prices simply 10.35 euros, i.e. 0.20 euros measuring tape. The one nation that surpasses Greece is Italy, the place the bundle of 45 measuring cups is bought on the worth of 17.99 euros (0.40 per measuring cup). Thus, the excuse of the multinational industries that the larger the bundle, the cheaper the product is destroyed.

Champions

Our nation additionally emerges as a champion of precision in bubble baths, as a product of a multinational large prices 4.78 euros (from 5.98 euros till February 29, 2023), whereas in Germany the identical is bought for two.45 euros, i.e. by 95 ,1% cheaper, and in England the five hundred ml bundle prices simply 2.01 euros (compared to the 650 ml, its worth is 2.6 euros).

Greek mother and father put their arms deep of their pockets to purchase child diapers for his or her infants in comparison with shoppers in different nations. A bundle of diapers (66 items) of a well known firm is bought in our nation for 32.67 euros (from 38.48 euros earlier than the measures), i.e. 0.50 euros per piece in comparison with 0.31 euros in England, 0.41 euros in Italy and 0.44 euros per piece in France. Quite the opposite, Spain (0.54 euros per piece) and Germany (0.53 euros per piece) seem costlier. From these costs it follows that in Greece child diapers are 61.3% costlier in comparison with the UK.

Huge “scissors” additionally exist in meals

A big “scissors” can be noticed within the costs of sure meals, comparable to for instance plant-based almond milk. In Greece, the value of a big multinational’s product is 2.98 euros, 49.7% greater than in Spain, the place it prices 1.99 euros per liter. The identical drink is bought in England for €2.30, in France at €2.39, in Germany at €2.69 and in Italy at €3.59.

The distinction is smaller within the pasta of a well known business. Spaghetti No5 (500 grams) prices 1.30 euros in Greece, whereas in France they’re accessible on the worth of 1.09 euros and in Italy at 1.25 euros. The costs of the identical product are significantly greater in England (1.61 euros), in Spain (2.05 euros) and in Germany (2.19 euros).

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Nevertheless, although on the stage of the European Union the costs of merchandise produced by multinationals are greater in Greece and Spain, in some meals there are giant variations between the 2 nations. For instance, fish croquettes of a well known firm (15 items) which in Spain value 4.49 euros, in Greece they attain 6.65 euros (+48.1%), whereas cereals from a big multinational are bought in our nation at 4.82 euros and in Spain simply 3.25 euros, i.e. 32.6% cheaper.

How can ceiling imposed

Representatives of the industries chatting with “ET” they admit that there are variations within the costs of the identical merchandise from nation to nation, nevertheless they level out that the ultimate worth of a product can be affected by different components, comparable to VAT, the amount of gross sales made in every market, but in addition the transport prices from the nation of manufacturing within the nations of consumption. “The distribution of retail merchandise in most of the nations is finished by central deliveries, whereas in Greece we have now to go to the final retailer within the mountains, on the islands, in all places. It has a distinct value. And that is not all. There are additionally completely different VATs. We’ve one of many highest VAT charges in Europe”, he emphasizes to “ET”. senior govt of a multinational firm.

There are settings

Nevertheless, in line with business executives, there are already legislated rules on the European stage, concerning the value of the product when it leaves the nation of manufacturing to the subsidiaries within the different markets. “It’s the so-called switch pricing coverage, which is totally legislated. All of the multinationals are obliged yearly to have a file on the methodology they observe in switch pricing in every nation and all that is submitted to the financial authorities of the nations that belong to the European Union”, he explains.

He provides that what doesn’t exist on the European stage, is the management over the industrial coverage adopted by the department of every multinational firm, in its cooperation with the provision chain and the retail commerce.

Establishing guidelines

As well as, some guidelines could possibly be set concerning the factors of the advantages, but in addition the scale of the sale worth in relation to the promotional actions. “In some nations the promoting worth is decrease or greater than others for a similar product of the identical multinational firm and from there on out of the country there will not be many promotions and presents and out of the country they’re greater. And there might presumably be some group laws, much like that which has been utilized for 2 months in Greece, with the limitation of promotional actions”, concludes a market govt.

Costs in Greece and Europe

PRODUCT PRICE IN GREECE PRICE IN SPAIN PRICE IN FRANCE PRICED IN ENGLAND PRICE IN GERMANY PRICE IN ITALY
Spaghetti No 5 (500 grams) 1,30 2,05 1,09 1,61 2,19 1,25
Dishwasher tablets 13,96

(26 tablets)

18,15

(48 tablets)

9,85

(33 tablets)

11,5

(51 tablets)

11,99

(42 tablets)

12,55

(50 tablets)

Dishwasher tablets (1 pill) 0,53 0,37 0,30 0,23 0,29 0,25
Liquid laundry detergent 19.45 (70 washes) 20.40 (60 washes) 20.09 (58 washes) 10,35

(51 washes)

13,2

(45 washes)

17.99 (45 washes)
Liquid laundry detergent (per wash) 0,28 0,34 0,34 0,20 0,29 0,40
Bubble bathtub 4,78

(650ml)

3,25 (600ml) 2,01

(500ml)

2,45

(650ml)

3,99 (500ml)
Child diapers 32,67

(66 items)

38,88

(72 items)

18,65

(42 items)

16,68

(54 items)

18,95

(36 items)

20,10

(48 items)

Child diapers (per piece) 0,50 0,54 0,44 0,31 0,53 0,41


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