Piraeus Bank is finally closing the only bank remaining on the island, causing protests from residents and local authorities. According to information from employees, the branch will cease operations from November 16.
Speaking to Enimerosi, Paxos Mayor, Spyros Vlahopoulos, stressed the social dimension of the issue. "The closure of the only bank branch on the island is primarily a social issue. The bank has a significant volume of business from the residents of Paxos but simply does not care to have a presence on the island, just like all the other banks."
Paxos Municipal Council issued the following resolution of protest:
On November 6, 2023, at 6:30 pm, the Municipal Council of Paxos convened in an extraordinary session following the news of the impending closure of the Piraeus Bank branch in Paxos. Unanimously, in accordance with decision number 26-131/2023, the council decided:
-
To express opposition to the decision of Piraeus Bank's management to close its branch on the island, a move that reasonably raises intense concern and dissatisfaction among the citizens. Piraeus Bank succeeded Agricultural Bank and, as a result, gained a significant number of Paxos residents as clients, contributing to a substantial business volume and profits.
-
To highlight that the anticipated closure of the Paxos branch will seriously hinder the locals' ability to transact directly with the bank and the overall banking system. As there is no other bank operating on the island, even a trip to Corfu requires many hours and significant expense.
-
To call on the Piraeus Bank's management to reconsider its decision and keep the Paxos branch operational (as it did two years ago). This request takes into account not only the positive economic indicators supporting it but also the social dimension of the issue.
-
To send the resolution to the Members of Parliament representing the region and the relevant ministries for their respective actions.
