Greek MP sent €1m abroad

The Greek government has threatened to name and shame politicians accused of funnelling huge sums of money abroad in spite of a call to ordinary Greeks to return their savings to the country’s cash-strapped banks.

Greeks have withdrawn about €65bn in savings since the onset of the debt crisis in 2009, stashing most of it at home or in safety deposit boxes fearing the country might have to ditch the currency and return to the drachma.

Controversy erupted this week when the head of the judiciary’s money-laundering watchdog, prosecutor Panagiotis Nikoloudis, said a member of the Greek parliament sent €1m to a Swiss bank in mid-2011.

The media, in a frenzy to identify the MP, have floated several names, although nobody has stepped forward.

Evangelos Venizelos, the finance minister, did not identify the deputy, whose bank transfer did not necessarily break the law. That was not the point, he told parliament yesterday.

“There is indeed a difference between what is legal and what is proper,” said Mr Venizelos.

“There are politicians, or relatives of politicians, who each transferred more than €100,000 abroad in 2011.

“These names will be ascertained within the day, and will be given to the parliament speaker. They will be called upon to explain.”

The transfers were made despite the government assuring Greek citizens that their savings are safe.