Greek Parliament approves appointment of new head in Capital Market Commission

A Greek Parliamentary Committee on Monday approved the appointment of Mrs Vasiliki Lazarakou as chairman of the Capital Market Commission. New Democracy deputies voted in favour with all other opposition parties' deputies voting "present" and only the Hellenic Solution party deputy voting against.

Addressing the parliamentary commission, Finance Deputy Minister George Zavvos said the government will table a draft bill in October that will seek to strengthen the operation of the Capital Market Commission. "For the government, the Capital Market Commission is an extremely important factor for the country's growth course," Finance Minister Christos Staikouras said, placing emphasis on strengthening the supervisory role and reinforcing the Commission with the necessary infrastructure and tools. "The aim," he said, "is to create a favourable and stable regulatory and economic environment with rules and high standards to ensure transparency and economic stability".

Lazarakou, presenting her policy priorities, said the Capital Market Commission's goal was the protection of investors and a smooth operation of the market, therefore it needs a stronger and transparent supervisory framework that is harmonised with European legislation. She emphasised the focus on faster and efficient market controls and the exploitation of new technologies. "We must programme the new conditions and help Greek enterprises, especially those that are small, get financing assistance," she noted.

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