PM Mitsotakis rules out extraordinary tax on banks

Prime Minister Kyriakos Mitsotakis has reportedly ruled out imposing an extraordinary tax on bank profits.

Speaking at a conference organized by Morgan Stanley and the Athens Stock Exchange in London on Monday, the prime minister reportedly assured investors in a private meeting that his government has clear objectives for the banking sector and the means to achieve them. "Extraordinary taxation of banks is not one of those measures," he was quoted as saying.

The announcement reportedly triggered a sharp rally in banking shares on the Athens Stock Exchange. During Monday's session, the index jumped more than 3%, recovering to 1,185 points and reversing a recent downward trend that had driven the index to a 10-month low of 1,150 points.