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Ex FinMin admits he sent €450K abroad in June 2012 “afraid Greece would collapse”

What did the economic adviser to PM Lucas Papadimos do right right between the two elections of 2012? He transferred €450 thousands abroad out of fear the country would collapse. Τwo years later, the same man, Gkikas Hardouvelis accepted PM Samaras’ offer and assumed the office of finance ministry of this troubled country and even “negotiated” with the official creditors.

Speaking to private Star TV, Gkikas Hardouvelis admitted press reports according to which he transferred a little less than half a million euro to HSBC abroad and thus in 56 tranches of €7,700 – €9,800. Money transfers above €10,000 call the Bank of Greece in control action.

“Yes, I transferred some money abroad because as every Greek I was afraid that the country would collapse,” Hardouvelis said adding “the Greek always look at their own pockets.”

“I brought the money abroad because I was actually scared in June 2012, more than I am today.”

“I transferred the money little by little online [online banking] because I wanted to be sure it will arrive.”

I transferred a large amount and this shows that I did not want to hide anything.”

“I had a child abroad and I wanted to make some payments.”

 “The money has been declared, taxed and justified. It is the product of 32 years of work by me and my wife. My life is a mirror. Nobody can accuse me of anything. ” (interview excerpts here)

Hardouvelis felt the need to go public and justify his money trasnfer after Sunday newspaper Real News revealed that former Finance Minister Gkikas Hardouvelis “was under investigation by the anti-corruption authorities for having transferred money abroad and on possible tax evasion.”

Upon the question of the Live U magazine presenter “If all Greeks bring their money abroad, the system will collapse,” the former Finance Minister replied:

“I did not transfer all my money abroad.”

It should be noted that from November 2011 to May 2012, Gkikas Hardouvelis: Director of the economic office of Prime Minister Lucas Papademos, the ex-banker who was appointed to replace PM George Papandreou.

2005-2014: Chief economist, head of economic research and member of the executive committee of the Eurobank Group.

2000-2004: Director of the economic office of PM Kostas Simitis (euro zone entrance)

What do we learn from Hardouvelis’ statement today?

a) that Papadimas’ economic adviser started to transfer money abroad in the time between the two elections in May 6th and June 17th 2012. And this despite the fact that as he said “during Papadimos governance we got a lot of money by the Troika.” At that time it was clear that conservative Nea Dimokratia would win the elections.

b) that Papadimos’ economic adviser did not trust the banks for safe transfer.

c) that the economic fate of the country and the citizens, that the negotiations with the country’s creditors has been laying in the hands of scary clowns who refuse to take any responsibilities.

As expected, Hardouvelis interview to Star TV triggered a wave of angry and ironic reactions in social media.


“Hardouvelis a tranche junkie! Every month he needed his fix”

“Hardouvelis gives the negotiations know how and of course how to transfer money abroad.”

“The Greeks looks into his own pocket’. The meaning of boldness has a new meaning.”

“That Hardouvelis brought his money abroad because he was scared shows that nobody in this country has any idea about anything.”

“Hardouvelis f***ed our lives in order to save his money! GO TO HELL!”

“If you’re scared ’cause you’re in the hospital corridor, ask Hardouvelis what it means to be really scared.”

KTG’s Sunday report on Ex FinMin Hardouvelis investigated for transferring money abroad and on possible tax evasion.

PS I suppose, the investigation against him is continuing.


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  1. Really? 450 million?

    “He transferred €450 million abroad out of fear the country would collapse.”

  2. In other words a hypocrite.

    The real question is how this PASOK appointee ever cleared the nomination to become Finance Minister whose prime job is the health of the banking system?

    Is there no background checking in Greece? Or do we appoint whoever is more convenient regardless of qualifications?

    • keeptalkinggreece

      ehm… argh… no…

    • Please! “We” appoint only trusted lackeys & goons like this man. And the Greek people are only sheeple who have to swallow and take it. The sheeple must PAY this little nothing a ton of money, with perks, security police, chauffered 24/7 limousines, to represent Greeks’ interests…

      And you wonder that we feel so strongly about, among other things, Siemens? :((