It has been reported that Greece will seek damages from Siemens over past bribery scandals. Investment Minister, Mr Harris Pamboukis said in a letter to the head of Siemens’ Greek subsidiary that: “Greece will seek compensation for the damage it has suffered from the corrupt practices that have been used by your company in the past”.

In 2008, Siemens agreed to pay approximately €1billion in fines and penalties after investigations by U.S. and German authorities into bribes it paid to win contracts. Greek prosecutors are investigating alleged bribes on contracts between the Greek unit of Siemens and then state-controlled telecoms group, OTE, during 1997-2002. A Parliamentary Committee is looking into this and into another scandal related to security systems for the 2004 Olympic Games. Lawmakers from the Committee are expected to publish reports which will identify former Greek ministers they want to probe further in another investigative committee. Three Siemens Hellas officials have been charged in the scandal but have denied wrongdoing.