 |
Compact version |
|
 |
        |
|
 |
||
|
Sunday, 22 December 2024
|
||
 |
 |
|
|
|
Athens News Agency: Daily News Bulletin in English, 14-07-10Athens News Agency: Daily News Bulletin in English Directory - Previous Article - Next ArticleFrom: The Athens News Agency at <http://www.ana.gr/>Thursday, 10 July 2014 Issue No: 4704CONTENTS
[01] Greece returns to international markets with three-year bondThe Greek Finance ministry is expected to announce the country's return to international markets with a three-year bond worth 2.5-3.0 billion euros, later on Wednesday.Finance ministry sources said the interest rate of the bond issue was expected to be set at 3-3.5 pct, with Bank of America, Merrill Lynch, Deutsche Bank, Goldman Sachs, Citi, JP Morgan, Morgan Stanley, Nomura, HSBC, UBS and BNP Paribas acting as joint bookrunners. A further decline in the interest rate of six-month Treasury bills (from 2.15 pct to 2.05 pct) in Tuesday's auction was considered to be a "good omen" for Greece's return to international markets, the second this year. Greece returned to international markets in April, with a five-year bond, after a four-year exclusion. [02] PM Samaras chairs meeting on liquidity problemsThe handling of the liquidity problems of households and enterprises was the focus of a meeting chaired by Prime Minister Antonis Samaras at the government headquarters Maximou Mansion on Wednesday evening, according to an informal briefing by the government spokeswoman."The current state of the banking system was discussed in this light and its prospects in the logic of further strengthening liquidity in the real economy. The discussions will be more frequent with the aim of banks - given the stabilisation of public finances and the completion of their recapitalisation - assisting the daily lives of citizens even more", the same government source said. The meeting was attended by Finance Minister Gikas Hardouvelis, Alternate Finance Minister Christos Staikouras, Development Minister Nikos Dendias and representatives of the four systemic banks. Dendias said on leaving the mansion that issues were discussed concerning bank loans and banks' potential to assist the economy. According to Development ministry sources, initiatives will be taking place in a reasonable period of time for the real economy's recovery. Piraeus Bank president Mihalis Sallas also made a statement, saying that the economy circumstances are much better compared to a short while ago. [03] PM Samaras concludes meeting with Russian Railways presidentPrime Minister Antonis Samaras on Wednesday held a meeting with the president of Russian Railways Vladimir Yakunin at Maximos Mansion. After the conclusion of the meeting, Yakunin left the premier's office without making any comments.Samaras at 14.00 will meet with the managing director of the European Stability Mechanism (ESM) Klaus Regling. [04] PM Samaras' meeting with ESM managing director concludedPrime Minister Antonis Samaras on Wednesday held a meeting with the managing director of the European Stability Mechanism (ESM) Klaus Regling at Maximos Mansion. Regling left the premier's office without making any comments.[05] 'We have invested in the future of Greece,' EFSF chief notes after meeting Greek finance ministerEuropean Financial Stability Facility (EFSF) CEO and Managing Director of the permanent European Stability Mechanism (ESM) Klaus Regling met Greece's new head of the finance ministry, Finance Minister Gikas Hardouvelis, on Wednesday. Regling had earlier been received by Prime Minister Antonis Samaras for a meeting that ended without statements."We have invested in the future of Greece," Regling said after concluding his meeting with Hardouvelis, adding that "in the last three years EFSF has provided more than 141 billion euros to Greece, and shoulders more 43 pct of the Greek debt." He referred to the EFSF "having invested in Greece," noting that the average duration of Greek debt held by the EFSF was 32 years. Hardouvelis stated that over 60 pct of the financial assistance EFSF has provided to European countries has been given specifically to Greece on very favourable terms, so that each Greek household benefited with annual savings of about 3,000 euros. The head of EFSF and ESM welcomed the "significant efforts Greece has made in recent years". While recognizing that economic reforms and fiscal adjustment have proven difficult and painful for many Greek citizens, he nevertheless urged them to also look at the positive results that have been achieved. "Greece is slowly becoming competitive again and, despite the unacceptably high unemployment rate, it is gradually improving and investors have begun returning," Regling assessed. Hardouvelis commented that "We, as Greeks, have to reform our economy and we believe that Europeans, on their side, will do their duty." Regling went on to meet with the new Bank of Greece governor Yannis Stournaras, Hardouvelis predecessor at the finance ministry. [06] China's president Xi Jinping in Rhodes on Sunday; to meet PM SamarasThe President of the People's Republic of China Xi Jinping is due to arrive on the Greek island of Rhodes this Sunday, where he will spend the night before departing for Brazil, which is his final destination.Prime Minister Antonis Samaras will be there to meet the Chinese president on his arrival at Rhodes airport at 14:00 on Sunday, while there will follow a luncheon hosted by Greek President Karolos Papoulias. On Sunday evening at 18:00, the prime minister and the Chinese president will meet at the Palace of the Grand Master of the Knights of Rhodes and they will take a walk in the Old City until 18:45. Samaras will depart for Athens at 21:00 and the Chinese president will spend the night on the island. The Greek prime minister's last meeting with the Chinese president was last year, when Samaras had paid a visit to China. The current visit has symbolic value, reaffirming the good relations between the two countries and underlining China's intention to further develop economic ties with Greece in the framework set during an exchange of visits by the Greek and Chinese premiers. It will also help to promote Greek tourism and encourage Chinese citizens to visit Greece. [07] Finance Minister Hardouvelis addresses Economist conferenceFinance Minister Gikas Hardouvelis on Wednesday addressed an Economist conference, asking citizens to support reforms and politicians to show a sense of unity since, he said, "in the end we foot the bill."According to Hardouvelis, 2014 will be the first year of economic growth for the country, but this is no reason for complacency. "Greece's economy in 2015 should be able to increase employment and enhance citizens' expectations as well as boost exports and investments," he said. [08] Finance, Labour ministers hold meeting ahead of troika's arrivalFinance Minister Gikas Hardouvelis on Wednesday met with Labour Minister Yiannis Vroutsis ahead of the troika head officials' arrival, who on Thursday are expected to meet with Hardouvelis and on Friday with Vroutsis.According to a top Labour ministry official, the short upcoming review is not of particular importance, while the big "review" is scheduled for September. The pending issues in the negotiations between the Labour ministry and the troika of Greece's international lenders include the change of the law on unions, the further cut of the labour cost, the evaluation of the insurance system reform progress and the government's proposal for the settlement of arrears to social security funds. [09] IMF warns Greece over 'red loans'The International Monetary Fund (IMF) on Wednesday reiterated its concern over "red loans" in Greece, adding, however, that "if the issue is resolved, there will be no problem."Banks will have to be in a position to support the recovery of the Greek economy, IMF representative Rishi Goyal told an Economist conference, warning that unless they manage to improve their balance sheets, there will be a problem. According to Goyal, "the IMF remains committed to continuing the programme in Greece and everything it has pledged." He added the government was committed to continuing reforms and changes in the labour market, as well as proceeding with the opening up of closed professions. [10] PASOK leader responds positively to DIMAR head's proposal for a policy dialoguePASOK leader Evangelos Venizelos on Wednesday appeared positive to Democratic Left leader's invitation to a policy dialogue, noting in a written respond to Fotis Kouvelis' proposal that an organized institutional dialogue, without any barriers or authoritative stance, "was and still is our firm position."Therefore, Venizelos pointed out, "we accept the proposal for a policy dialogue, which we have repeatedly put forward." "The agenda...in your letter includes issues which are obviously in the list of the country's top priorities. On May 11 in Thessaloniki, I had the opportunity to present, on behalf of PASOK and Elia, our comprehensive proposal for a national recovery plan; for Greece after the crisis and the memorandum," he said. Venizelos believes it is particularly important "to point out that the centre-left cannot be defined by others from a policy or strategy point of view. It must claim an autonomous and central role... Issues of institutional and national order are also important. The nation must unite again in defiance of those who cultivate tension." He also raised the issue of the Greek President, stressing that this institution should be safeguarded, giving an indication of his approach to the issue on which PASOK and DIMAR have different views, at least for now. Venizelos said he was ready for the first discussion meeting with all those "who feel that the democratic progressive group, the centre-left concerns them. [11] "Small PPC" bill approved by the ParliamentThe first Summer Recess section of the Parliament finally approved on Wednesday - in principle, on an article-basis and in its entirety - the controversial "small PPC" bill tabled by the two-party coalition government, with 51 MPs voting in favour of the bill and 46 MPs voting against it.Based on the parliamentary discussion which preceded voting, the senior and junior coalition government partners Nea Dimokratia and PASOK parties, respectively, voted in favour of the "small PPC" bill, while against it stood the MPs of main opposition Radical Left Coalition SYRIZA, as well as the MPs of Independent Greeks (ANEL), Golden Dawn, Democratic Left (DIMAR), Communist Party of Greece (KKE) and Independent Democratic MPs. The approval of the bill paved the way for SYRIZA, Independent Greeks and Golden Dawn to table their parties' individual proposals on Wednesday evening for a referendum regarding "small PPC", while DIMAR is expected to table its own individual referendum proposal on the issue tomorrow. [12] Environment Minister Maniatis on 'small PPC'The bill for the "small PPC" is one of the biggest reforms and major developments that will benefit the Greek economy and the Greek society, Environment, Energy and Climate Change Minister Yiannis Maniatis said.Maniatis also attacked SYRIZA, accusing the main opposition of "tactics" as regards the referendum, due to lack of arguments and proposals as well as in view of the election of the President of the Republic. "The deregulation of the electricity market requires clear political positions and even clearer ideological approaches, it requires absolute clarity whether this reform helps PPC or not, whether it helps social classes," he underlined. The minister also reassured that PPC employees' labour and pension rights would be safeguarded. [13] SYRIZA leader lashes out on government over PPCMain opposition SYRIZA leader Alexis Tsipras on Wednesday lashed out on the government, accusing it of selling-off the public wealth at a low price."You, as a government, are moving in the shadows. You are resorting to slander, you wouldn't even dare hold a referendum, not even a debate in the Parliament," Tsipras noted while addressing the Parliament's summer session on the "small PPC" bill. He also said his party would table a proposal for referendum. "You got a state but you will give back a colony; a colony of great private interests as well as of vested interests that prey on the country's state companies. A historic responsibility is assumed....You shall not take this decision in hiding, but being out in the open. Each deputy will take one's own responsibility," Tsipras pointed out. He added that "your sole criteria are to get round to selling off whatever has been left off from the public wealth and create a negative result for the next government." [14] Independent Greeks party says PPC sale 'a clear financial crime'Attacking the government on Wednesday, during the debate in Parliament concerning the draft bill for the 'small PPC', the opposition Independent Greeks party leader Panos Kammenos called the power company's privatisation plan "a clear financial crime". He said his party had asked for a referendum on the issue, not to cover the 'bad' PPC or trade unionists but to protect the property of the Greek people."It is clear that this is a financial crime and that the PPC is not being sold for purposes of growth," he stressed, adding that from the following day, the Hellenic Republic Asset Development Fund (HRADF) will be in a position to sell off all the PPC, in addition to the 30 pct, without asking for Parliament's approval. He further slammed the sale as "cut-price", noting that it was a "globally unprecedented phenomenon to sell off a public enterprise with 7.5 million exclusive clients and net profits of 1.5 billion euros annual, in addition to over 15 billion euros in assets without counting its coal reserves, in exchange for one tenth of its worth." "With your signature and your vote, you are giving away the country's coal reserves," he pointed out, adding that "no one would stay out of jail" when justice was asked to rule on what had been done. A roll-call vote on the draft bill is due to be held at 20:30. [15] Protest rallies against 'small PPC' bill in central AthensA protest rally by Public Power Corporation (PPC) employees against the draft 'small PPC' bill for the partial privatisation of Greece's power company started in Syntagma Square opposite Parliament on Wednesday evening. At the same time, the Communist Party of Greece (KKE) affiliated trade union group PAME was holding a separate rally in Klafthmonos Square in central Athens, addressed by KKE General Secretary Dimitris Koutsoumbas.Roads around Syntagma Square were closed on Wednesday evening but Syntagma metro station stayed open. [16] SYRIZA will 'use all institutional means' to bring about referendum, Tsipras underlinesMain opposition SYRIZA leader Alexis Tsipras on Wednesday said his party will use every means under the institutions to prevent the government from "selling off" of the Public Power Corporation (PPC) and Greece's beaches, as well as attempts to pass legislation abolishing the right to strike, by passing them through the smaller summer session of Parliament with 'pre-selected' MPs.Accusing the government of aligning itself with "local and foreign kleptocracy", he said that many more than the required 120 MPs wanted the Parliament plenum to be immediately reconvened and that the Parliament president's position on the issue of collecting signatures and activating article 44 of the Constitution was "self-evident". Tsipras also underlined that SYRIZA would not settle for a turn in power or a "seat in the Maximos Mansion," even if there was no country left to govern from there. "You have not properly understood who you are dealing with. We are not thirsty for power. We are thirsty to take power from the hands of the local and foreign kleptocracy and hand it over. To give it where it belongs. To the Greek people," he said. Tsipras accused the ruling coalition of "lacking the legitimacy to make binding decisions," especially since the result of the European elections, noting that the country was now being run by the "second and fourth-ranking parties". He also repeated accusations that the government, aware of its imminent defeat, was adopting a "scorched earth" policy. He was particulary scathing about the decision to shut Parliament unexpectedly and early, then pass a "storm of bills and amendments," stressing that SYRIZA would force each of these "pre-selected" 50 to vote openly on these crucial issues, taking individual responsibility. Regarding the planned sale of the 'small PPC', Tsipras said the move took the country "64 years back" and he also questioned the price at which the country's assets were going up for sale, saying this was the "most criminal act of the memorandums" and that experts evaluated the PPC at hundreds of billions of euros. He also criticised the results of privatisation attempts so far - noting that these had resulted in price hikes of 103 pct of consumers and 80 pct for businesses, as well as allowing free rein to companies like Energa, which had squirreled even the money collected on behalf of the government abroad. Among others, he pointed out that the defence lawyer at Energa's trial was the current health minister, while no representative of the Greek state attended. Tsipras then accused the government of rushing to "serve specific private interests in the energy sector" quickly, before SYRIZA came to power and the "party of the kleptocracy and the economic oligarchy comes to an end in Greece". "You, as a government, are moving in the shadows. You are resorting to slander, you wouldn't even dare hold a referendum, not even a debate in the Parliament. You took over a state but you will hand back a colony; a colony of great private interests and of vested interests that prey on the country's state companies. A historic responsibility is assumed....You shall not take this decision in hiding," Tsipras stressed. "We will use every means given by the institutions so that Greek society is able to adopt a position. We will submit a proposal for a referendum in accordance with the Constitution and Parliament regulations. We demand that the Parliament plenum be immediately convened," Tsipras said. [17] Failing to open Parliament to discuss holding referendum tantamount to 'coup', SYRIZA MP Dritsas tells ANA-MPAFor the government to refuse to hold a discussion in Parliament on whether there should be a referendum on privatising the PPC would be tantamount to a coup, given that the signatures of over 120 MPs will be submitted, main opposition SYRIZA Parliamentary rapporteur Thodoris Dritsas said in an interview with ANA-MPA on Wednesday."SYRIZA is not playing games, it is not engaging in tactics as [government spokeswoman Sofia] Voultepsi says. It has a strategy for preventing the sale of public wealth, especially in such crucial sectors as the PPC. As a result, anything that the Constitution gives us as a weapon we will use," Dritsas said. He rejected the ruling New Democracy's accusations that the move was a "communications gimmick," stressing that SYRIZA saw it as an obligation and a political choice not to leave any tool provided by the Constitution and Parliament rules unused. "When we say that the sale of PPC is an issue of national importance we are responding consistently to what we proclaim," he added. Commenting on the government's view that the support given to the five proposals for a referendum cannot be "added up", Dritsas noted that all the proposals, regardless of the details given by each party concerning what its proposal will include, coincide on the need to hold a referendum on whether the draft bill for the 'small PPC' will become law. All the proposals will include this, it is impossible for them not to include it. A referendum is not held before a law is voted upon but afterwards, for society to decide whether it is acceptable or not," he added. [18] ND parliamentary rapporteur calls SYRIZA's referendum proposal a 'firework'New Democracy's parliamentary rapporteur Adonis Georgiadis on Wednesday described SYRIZA's referendum proposal over the "small PPC" as a "firework.""SYRIZA with the referendum firework has partly managed to avoid the real discussion over PPC. On one side, it says we must be part of the EU and the Eurozone, therefore it accepts the relevant laws on the energy deregulation and the entering of the private sector in the market and on the other, it says electricity is a public good and should belong to the state. I think we have given too much thought to a tactic move and we have given it the chance to move away from the what really matters: that SYRIZA has a major political and ideological issue over PPC," he said. Georgiadis considers the argument that "the Parliament's President is in conflict with Maximos Mansion" has nothing to do with reality. "The Parliament's President, due to his institutional role, is in a position to comment on what is happening in the Parliament but this does not mean that when he says something he is conflicting with the premier's view," he added. According to Georgiadis, the deputies' signatures gathered under five referendum proposals cannot be added up. "The communist KKE party calls for a referendum over the abolishment of all laws related to the energy deregulation, while SYRIZA calls for - I am not so sure what they say, they probably say - a referendum over the "small PPC" bill. These are two different proposals. We could presumably add them up, hold a debate and proceed with a referendum. Which of the two questions would be posed? Can you answer that?" The full audio interview is available for subscribers at the ANA-MPA website. [19] KKE not interested in SYRIZA's 'illegitimate' referendum, Papariga tells ParliamentAddressing Parliament during the debate on the draft bill for the 'small PPC' privatisation, Communist Party of Greece (KKE) Parliamentary group chief Aleka Papariga underlined that her party was not interested in backing what she called an "illegitimate" referendum proposed by main opposition SYRIZA."SYRIZA brought this proposal for a referendum because, above all, it is interested in being shown as an alternative solution for the people. SYRIZA might be an alternative solution for governance but it is not an alternative solution for the people," Papariga said. She said her party did not deny the need for a referendum on the issue but wanted a "clean referendum" on a clearcut question. "The way that SYRIZA poses its referendum, excuse me, it pardons the entire course until now and we vote against only a section of the privatisation," she added, saying that such a referendum would not raise a barrier but actually legitimise any other change that would follow. [20] SYRIZA's Tsipras presents his plan for the public enterprises and organizationsSpeaking at the Economist conference "The big rethink for Europe - The big turning point for Greece" in Athens on Wednesday, Radical Left Coalition SYRIZA party's leader Alexis Tsipras presented his party's plan for the operation of Greek public enterprises and organizations, including the country's energy monopoly Public Power Corporation (PPC).Tsipras stressed, that "we seek a universal and radical reform of the organizational and operational framework of publich enterprises and organizations". SYRIZA's leader attacked the government and personally Premier Antonis Samaras, underlining that the concession of PPC - in reference to the "small PPC spin-off intended privatization - does not constitute a (bailout) memorandum commitment and under this spectrum "it is therefore clear that the concession of PPC to the private sector is imposed - through the lenders of Greece - by domestic corrupt groups and energy multinationals - not Europe". Tsipras called PM Samaras to "rise to the occasion and behave as the responsible prime minister of a democratic country, leaving aside the military and judicial confrontation of social reactions, paving the way for deliberation, dialogue and Democracy". He noted, that SYRIZA aims to have public enterprises and organizations which safeguard the right to social goods, including energy, so as to end the "energy poverty" of the country and reinstate the right of the people for a "minimum biotic energy quantity". According to Tsipras, SYRIZA also supports the rationalization, as well as the transparent and effective operation of public enterprises and organizations as social and growth institutions, aiming to enhance their contribution to the productive and ecological transformation of the economy. [21] Tsipras turning 'blind eye' to SYRIZA MP's 'armed struggle' statement, Voultepsi saysIn an attack on main opposition SYRIZA leader Alexis Tsipras on Wednesday, government spokeswoman Sofia Voultepsi criticised his statements at the "Economist" conference in Athens as "hypocritical" and said he "turned a blind eye to the crime of parliamentary legitimisation of terrorism" by members of his party.Tsipras, while calling on everyone to respect the laws and the Constitution "could not find time on this day either to condemn the fact that his MP supported within the Hellenic Parliament that course toward taking over power may also include 'armed struggle'. He speaks of crimes but wilfully turns a blind eye to the crime of parliamentary legalisation of terrorism," she said. Replying to Tsipras comment in Parliament that the government "had not properly understood" SYRIZA, Voultepsi replied: "Precisely because we have understood, because everyone has understood with whom we are dealing with, we will not allow him to destroy the country by using the only weapons he has: lies, insults and his armed factions." [22] Environment Minister Maniatis' reaction on SYRIZA's criticism over PPCEnvironment, Energy and Climate Change Minister Yiannis Maniatis on Wednesday responded to main opposition SYRIZA leader Alexis Tsipras' criticism over Public Power Corporation (PPC) citing the government's "patriotic duty."Maniatis accused SYRIZA of not participating in a dialogue and rejecting everything. He also stressed that consensus can not be unbalanced. "The deputies supporting the government are not dominated by fear. Instead of fear, the feeling of patriotic duty prevails," the minister said. In reaction to Tsipras' accusations of selling off PPC, Maniatis pointed out that the price of the sale is not his own decision, but it is determined by an independent, internationally renowed evaluator that will set a fair value. [23] Shipping minister says 'Greece and its borders not a free-for-all'Shipping Minister Miltiades Varvitsiotis chaired a meeting on illegal immigration on Rhodes on Wednesday, including the participation of agencies and representatives of the local community.The discussion focused on managing the constantly increasing illegal immigrant flows from the sea borders of the wider region of the Dodecannese, an issue that has recently preoccupied the local society, with cases of migrants' disembarking on Rhodes and the rest of the islands becoming a daily occurrence. Varvitsiotis sent a message in all directions during the meeting that "Greece and its borders are not a free-for-all". The minister stressed, however, that "the dignity of these people must also be protected, who are very often refugees from countries in a state of war". Outlining the ministry's planning on handling the great increase in illegal immigrants attempting to enter the country by sea, the shipping minister stressed that "the men and women of the Harbour Corps are making a titanic effort on managing illegal immigration, which is very often superhuman". [24] Greece 'sets an example' on defense spending, NATO secretary general saysNEW YORK (ANA-MPA/P. Panagiotou)NATO's secretary general Anders Fogh Rasmussen praised Greece for the fact that along with the United States, the United Kingdom and recently Estonia are the only "allies that invest at least 2 percent of gross domestic product in defense," the Greek service of the Voice of America reported. Rasmussen, who addressed the "Atlantic Council" think tank in Washington on "A Strong Transatlantic Bond for an Unpredictable World", said people at both sides of the Atlantic shares common values such "individual liberty, democracy, human rights and the rule of law." He noted that "today, those values and our way of life are once more under threat" and added "An arc of instability from the Middle East to North Africa and the Sahel. Rising tensions and territorial disputes in Asia. And a revisionist Russia breaking international rules and undermining trust". "I believe there are three things we must do. Reinforce our economic ties. Deepen our personal and cultural links. And strengthen our security," NATO secretary general said. "The trade deals currently being negotiated between North America and Europe are the next step. And the right step. The Transatlantic Trade and Investment Partnership will eliminate tariffs, cut red tape and open up new markets. It is potentially the biggest trade and investment deal in history," he noted. On the enhancement of cultural and personal ties between the US and European countries, NATO secretary general pointed out the need "to increase our transatlantic student scholarships and exchange programmes; To increase our scientific and cultural cooperation." "Security is necessary for us to live free from fear," Asmuseen noted. "Some European nations can - and should - do more," he added and referred to Greece, which despite the severe economic crisis invests at least 2 percent of its Gross Domestic Product in defense. [25] Golden Dawn MP Mihos placed under house arrestGolden Dawn MP Nikos Mihos, who on Wednesday appeared before the examining magistrates handling the Golden Dawn case to give a supplementary deposition, was placed under house arrest after the conclusion of his testimony.The examining magistrates Ioanna Klapa and Maria Dimitropoulou disagreed with prosecutor Isidoros Doyiakos who opined that Mihos should be released under conditions. Mihos will remain under house arrest until an Appeals Court Council rules on the issue. The deputy was summoned to give explanations on the additional charges of illegal gun possession in order to supply a criminal organisation and drug offences. In his statements a few days ago Mihos admitted that he illegally possessed a gun for his own safety. [26] Athens court's ruling on ADEDY mobilisation against evaluation expected on FridayAn Athens court is expected to issue its ruling on Friday afternoon concerning a mobilisation by the Civil Servants Supreme Administrative Council's (ADEDY) against a staff evaluation measure. The action against ADEDY was initiated jointly by the finance and administrative reform ministries.Earlier on Wednesday, the court discussed the Hellenic state's recourse against ADEDY, which has called on employees to abstain from the evaluation process, asking that the labour mobilisation be judged illegal and abusive and to order its immediate halt. At the end of Wednesday's session, the court called on both sides to submit their proposals after noon on Friday and is expected to issue its ruling late in the afternoon on the same day. [27] Mobilisations on Crete against destruction of Syria's chemical weapons in the MediterraneanAgencies from all over Crete on Wednesday decided, during a meeting held at the Hania Labour Centre, to go ahead with a nationwide action week that will also include a three-day blockade of the NATO base at Souda.They are agencies participating in a body created on the island to coordinate actions against the destruction of Syria's chemical weapons in open waters in the Mediterranean through hydrolysis. According to an announcement, there shall be participation from Crete in a scheduled gathering in Athens on July 11, while the blockade of the base at Souda will take place on July 19-21. A decision on whether or not to continue the protest action at Souda will be made through an open general assembly of all the participants. [28] KKE criticises Israeli attacks on Gaza Strip, PalestiniansThe Communist Party of Greece (KKE) condemned the latest round of Israeli attacks against Palestinians in the Gaza Strip in an announcement issued on Wednesday."The state of Israel is escalating its criminal attack against the Palestinian people. Until today, Israel's air raids in the Gaza Strip have resulted in the deaths of more than 10 Palestinian civilians and injured dozens. At the same time, the mobilisation of 40,000 Israeli reserves opens the way for an attack on the ground against the Palestinian people with incalculable consequences," the announcement said. It also accused European Union and United States policies of encouraging an escalation "by equating the aggressors with the victims and upgrading EU-Israeli political, economic and military ties. [29] Greek parliament president Meimarakis to speak in an event in NicosiaNICOSIA (ANA-MPA / A. Viketos)The President of the Greek parliament Evangelos Meimarakis on Wednesday will speak in Nicosia in an event for the black anniversaries of the coup d'?tat and the Turkish invasion, organized by the Cypriot parliament. Meimarakis, who arrives in Cyprus early in the afternoon, will be received by the President of the Republic of Cyprus, Nicos Anastasiades, and will meet with the President of the House of Representatives Yiannakis Omirou. [30] Turkish fighter jets fly over Greek Anthropofagoi islet in the AegeanWednesday marked the fourth time in 2014 that Turkish fighter jets flew over the Greek islet Anthropofagoi, part of the Fournoi island complex east of the island of Ikaria in the Aegean.A formation of four Phantom jets entered the Athens Flight Information Region (FIR) between the islands of Chios and Lesvos at 15:18, without first submitting their flight plans to Greek authorities. At 15:45 they flew over Anthropofagoi at an altitude of 3,000 feet, finally exiting the Athens FIR a few minutes later. The Turkish fighter jets were all identified and intercepted by Greek fighter jets. On May 30, four Turkish F-16 fighter planes had flown over both Anthropofagoi and Makronisi in the Fournoi complex, while six Turkish fighter jets had done the same on March 7. Six Turkish fighter jets had again flown over Anthropofagoi on January 22. Financial News [31] NBG chairman Zanias says "Greek banks now stabilized" with a total liquidity of 50 bln eurosSpeaking at the Economist conference "The big rethink for Europe - The big turning point for Greece" in Athens on Wednesday, the president of the Hellenic Bank Association and non-executive chairman of the Board of the National Bank of Greece Giorgos Zanias expressed his conviction that the Greek banking sector has by now stabilized and recovered its capital adequacy, being able to participate in the new growth efforts of the country.According to his estimates, Greek banks today enjoy a liquidity of about 50 billion euros, "which allows them to restart lending to SMEs" and has made possible - along with the support of European funds - the co-financing of many more businesses and projects in the last 4-5 months. Zanias said he considers bad loans to be one the major challenges facing Greek banks, expressing confidence in their ability to tackle the problem, with the help of the economy's gradual return to growth. Inter alia, he suggested introducing a new legal framework to allow out-of-court settlements, to improve the bad loans situation. Speaking at the same conference, Douglas Renwick from Fitch Ratings UK explained why, to his agency's view, Greece's credit rating still remains weak. Among the reasons Renwick mentioned was that "the public debt is extremely high, the private sector has moved into high debt... the percentage of bad loans is high, the indications of attracting Foreign Direct Investment [FDI] are weak and unemployment remains at a high level". The Health Minister Makis Voridis made a reference to the maladies that used to haunt the Greek health system, such as "wastefulness, absence of audits and controls and a lack of medicinal prescription instruction mechanisms", moving on to describe the main health reforms currently under way. [32] EU Commission approves restructuring aid for Alpha BankBRUSSELS (ANA-MPA/V.Demiris)The European Commission on Wednesday approved the restructuring aid for Alpha Bank, as it found its restructuring plan, including the acquisition and integration of Emporiki Bank, to be in line with EU state aid rules. The measures already implemented and those envisaged in the future will enable the bank to return to viability, while limiting the distortions of competition brought about by the state funding. Commission Vice-President in charge of competition policy Joaquin Almunia said: "Alpha Bank's restructuring will make a significant contribution to reinforcing the viability of the Greek banking sector, to the benefit of the Greek economy." The Commission assessed the plan under its state aid rules for the restructuring of banks during the crisis. In its assessment, the Commission took into account the fact that the difficulties of Alpha Bank did not come from excessive risk-taking but primarily from the sovereign debt crisis and the related exceptionally protracted and deep recession which started in 2008. In view of those exceptional circumstances, the aid is less distortive of competition and creates less moral hazard. The Commission therefore concluded that a relatively limited downsizing of Alpha Bank would be sufficient to limit distortions of competition and, in particular, requested no downsizing in the Greek lending activities. The Commission found that the acquisition of Emporiki Bank by Alpha Bank in 2012 was not financed by state aid and did not require additional state support as Emporiki bank was fully capitalised up to the level requested by the regulator and was bought by Alpha Bank for 1 euro. Furthermore, the acquisition of Emporiki Bank was positive for the viability of Alpha Bank as the merger created opportunities to realise significant synergies. Finally, only aided banks submitted valid bids so there was no crowding out of non-aided bidders. The Commission concluded that the state support received by Alpha Bank in the context of its restructuring and the bank's acquisition of Emporiki Bank were in line with the EU rules on state aid for the restructuring of banks during the crisis. [33] Competitiveness Minister meets with board of Hellenic Bank AssociationCompetitiveness Minister Nikos Dendias on Wednesday held a meeting with the the board of the Hellenic Bank Association.According to ministry sources, the two sides discussed issues referring to non-performing loans, the creation of financial tools to boost the new enterprises' innovation and the tackling of unemployment. Moreover, they discussed the new NSRF and how the funds can be quickly channelled to the market. Dendias asked the banking system's cooperation for the country's return to growth. [34] International tourist arrivals up 17.1 pct in first halfInternational arrivals increased 17.1 percent or by 760,000 in the first six months of the year, boding well for the achievement of the Greek Tourism Enterprises Association (SETE) target for 19 million international arrivals in 2014.The target includes road and sea arrivals, but not cruise arrivals, which are estimated to increase by 2.2 million. According to data released by SETE, Athens continues its excellent performance with an increase of 32.8 percent or about 400,000 additional arrivals in the first six months. The target of 750,000 additional arrivals in the capital is expected to be overcome. In the meantime, a large increase of over 20 percent has been recorded at the airports of Chania (24.1 percent), Santorini (26 percent), Kalamata (58.5 percent) and Samos (22.1 percent). [35] Greek inflation rate slowed to -1.1 pct in JuneGreece's inflation rate slowed to -1.1 pct in June from -2.0 pct in May, but the slowdown remained substantially greater than the -0.4 pct figure recorded in June last year, Hellenic Statistical Authority said on Wednesday.The statistics service, in a report, said that price increases were recorded in airline tickets (29.9 pct), pharmaceuticals (21.6 pct), electricity rates (11.7 pct), hotels (7.5 pct), dairy/eggs (2.6 pct), cigarettes/tobacco (1.4 pct) and petrol (0.8 pct). On the other hand, price declines were recorded in fresh potatoes (30.9 pct), fresh vegetables (17.5 pct), sugar (11.6 pct), fresh fruit (10.2 pct), fresh fish (2.4 pct), cereals (1.4 pct) and meat (0.9 pct). The statistics service said the inflation rate rose 0.6 pct in June from May, after a 0.2 pct decline recorded in the corresponding period last year. The 1.1 pct decline in the inflation rate in June reflected: a 3.0 pct decline in food/beverage prices, an 1.8 pct rise in clothing/footwear, a 0.4 pct fall in housing prices, an 1.0 pct drop in durable goods, a 2.3 pct fall in entertainment, a 3.9 pct decline in education prices, an 1.4 pct fall in hotel/coffee/restaurants, a 2.9 pct decline in other goods and services. On the other hand, price indices rose in: alcohol/tobacco (1.6 pct), health (2.1 pct), transport (0.6 pct), communications (0.1 pct). Greece's harmonized inflation rate was -1.5 pct in June, from -2.1 pct in May. [36] OTE completes bond buy back programmeHellenic Ttelecommunications Organisation (OTE) on Wednesday announced the completion of a bond buy back program worth 500 million euros. In an announcement OTE plc said it has accepted bids worth 305 million euros for a bond maturing in February 2015 and bids worth 195 million euros for a bond maturing in May 2016.The buy back price was set at 103.721 pct and 104.905 pct for both bond issues, respectively. The bond buy back programme will be funded with capital to be drained from OTE plc new bond issue, worth 700 million euros. Following completion of the transaction, which is expected to be settled on July 11, the nominal value of bonds maturing in February 2015 and May 2016 will total 482.75 million euros and 700 million euros, respectively. [37] Greece officially announces three-year bond issueThe Greek finance ministry on Wednesday officially announced that Greece will make a new attempt to borrow from international markets through the issue of a three-year bond worth 2.5-3.0 billion euros. Sources at the ministry said that the interest rate is expected to be set at 3-3.5 pct.The Bank of America, Merrill Lynch, Deutsche Bank, Goldman Sachs, Citi, JP Morgan, Morgan Stanley, Nomura, HSBC, UBS and BNP Paribas were acting as joint bookrunners. A further decline in the interest rate of six-month Treasury bills (from 2.15 pct to 2.05 pct) in Tuesday's auction was considered to be a "good omen" for Greece's return to international markets, the second this year. Greece returned to international markets in April, with a five-year bond, after a four-year exclusion. The finance ministry announcement said that bond issue will be issued in euro, under English law, and the transaction will take place "in the immediate future, provided that market conditions allow this". [38] Two merchants' associations, employee union to contest Sunday shop opening in courtTwo organisations representing merchants - the General Confederation of Professionals, Craftsmen and Merchants (GSEVEE) and the National Confederation of Hellenic Commerce (ESEE) - as well as the Federation of Private Employees of Greece (OIYE) representing retail-sector staff, on Wednesday announced that they will jointly file a suit contesting recently passed measures allowing shops to open on Sunday in selected areas.The three groups will file a petition at the Council of State, Greece's supreme administrative court, against a ministerial decision signed by Deputy Development and Competitiveness Minister Gerassimos Giakoumatos that introduces the measure in specific areas as a pilot scheme, lifting all restrictions of size and other considerations and allowing all shops to open for 52 Sundays a year. Their petition asks for temporary suspension of the decision pending a final ruling and argues that boosting tourism is used as a pretext, when the measure actually serves the interests of the major local and international retail chains hoping to take over the market share of small and medium-sized retail outlets. The three groups note that SMEs currently account for 95 pct of all enterprises in the sector and employ more than 80 pct of the staff. They also argue that the decision does not serve competition but is clearly favouring larger players over smaller businesses and will have an adverse effect on many local markets, transferring turnover to selected areas and shops, they said. [39] Car registrations jumped 46.3 pct in JuneCar registrations jumped 46.3 pct in June this year, to a total of 10,475 vehicles (new or used ones), from 7,160 vehicles in the same month last year (passenger cars rose by 47.7 pct), Hellenic Statistical Authority said on Wednesday.The statistics service said car registrations were up 3.3 pct in June 2013 (3.3 pct in passenger cars). In a January-June period, car registrations totaled 52,282, from 40,682 in the corresponding period last year, an inrease of 28.5 pct (an increase of 29.2 pct in passenger cars). Car registrations were down 5.4 pct in the first six months of 2013. Motorcycle registrations totaled 4,585 in June, up 26.9 pct from the same month last year, while in the six-month period from January to June, registrations totaled 16,974, up 6.1 pct from 2013. [40] Danone Dairy Products reports 12 pct rise in H1 salesDanone Dairy Products SA on Wednesday reported a 12 pct increase in volume in the first half of 2014 and raised its market share in fresh dairy products to 8.0 pct, returning to fourth position in the domestic market.The company said its growth rates this year in Greece were expected to be the highest compared with any other European country where Danone has established activities. Haris Fevgas, chairman and chief executive of the company attributed this positive results basically to a new Activia campaign combined with a 10 pct price reduction. Fevgas said Danone invests around 3.0 million euros annually on marketing actions. He said that the company maintained positive profitability throughout the crisis and avoided wage cuts or worker dismissals. Turnover totaled 18.6 million euros in 2013, from 21.15 million euros in 2012, while net profits totaled 25.17 thousand euros. Danone expects this year's sales to surpass 20 million euros, up 7.0 pct from 2013 and pre-tax profits to reach 1.4 million euros. Fevgas said the fresh dairy product market shrank to 70 thousand tons last year from 84 thousand tons before the crisis, although the market showed signs of stabilisation last year, with its value falling by 1.4 pct in 2013 and expected to fall by 1.0 pct this year. [41] Greek stocks remain under pressureGreek stocks remained under heavy pressure for the second successive session in the Athens Stock Exchange on Wednesday, extending its decline for the fourth consecutive session. The composite index of the market fell 1.70 pct to end at 1,173.01 points, off the day's lows of 1,165.02 points. The index is 6.47 pct down in the last four sessions.Turnover remained a strong 164.61 million euros. The Large Cap index dropped 2.0 pct and the Mid Cap index ended 1.19 pct lower. Folli Follie (2.16 pct), Eurobank Properties (0.91 pct), Titan (0.83 pct) and Terna Energy (0.52 pct) were top gainers among blue chip stocks, while OPAP (3.77 pct), Piraeus Bank (3.75 pct), Jumbo (3.71 pct) and National Bank (3.08 pct) were top losers. The Media (9.62 pct) and Commerce (2.15 pct) sectors were the only ones to move higher, while Travel (3.53 pct), Personal Products (3.09 pct) and Banks (2.56 pct) suffered the heaviest percentage losses of the day. Broadly, decliners led advancers by 85 to 37 with another 16 issues unchanged. Naftemporiki (29.37 pct), Pegasus (19.23 pct) and Altec (16.67 pct) were top gainers, while Perseus (20 pct), AAA (19.84 pct) and Sidma (12.92 pct) were top losers. Sector indices ended as follows: Banks: -2.56% Insurance: -0.76% Financial Services: -1.80% Industrial Products: -1.06% Commercial: +2.15% Real Estate: +0.16% Personal & Household: -3.09% Food & Beverages: -2.05% Raw Materials: -0.57% Construction: -0.54% Oil: -0.20% Chemicals: +0.17% Media: +9.62% Travel & Leisure: -3.53% Technology: -1.53% Telecoms: -2.51% Utilities: +0.04% Health: -1.56% The stocks with the highest turnover were National Bank, Alpha Bank, Piraeus Bank and OPAP. Selected shares from the FTSE/ASE-20 index closed in euros as follows: Alpha Bank: 0.62 Public Power Corp (PPC): 10.74 Coca Cola HBC: 16.35 Hellenic Petroleum: 5.68 National Bank of Greece: 2.52 Eurobank Properties : 8.88 OPAP: 12.50 OTE: 10.48 Piraeus Bank: 1.54 Titan: 22.99 [42] Greek bond market closing reportThe yield spread between the 10-year Greek and German benchmark bonds eased to 4.75 pct in the domestic electronic secondary bond market on Wednesday, from 4.77 pct the previous day, with the Greek bond yielding 5.97 pct and the German Bund yielding 1.22 pct.In interbank markets, interest rates were largely unchanged. The 12-month rate was 0.486 pct, the nine-month rate was 0.393 pct, the six-month rate was 0.303 pct, the three-month rate was 0.203 pct and the one-month rate was 0.095 pct from 0.096 pct. [43] ADEX closing reportThe September contract on the FTSE/ASE Large Cap index was trading at a discount of 0.31 pct in the Athens Derivatives Exchange on Wednesday. Volume on the Big Cap index totaled 10,902 contracts with 61.124 open positions in the market. Volume in futures contracts on equities totaled 23,093 contracts with investment interest focusing on Alpha Bank's contracts (9,670), followed by National Bank (3,922), Piraeus Bank (2,137), Eurobank (2,141), MIG (687), OTE (1,311), PPC (832), OPAP (327), Hellenic Exchanges (304), Mytilineos (290), Hellenic Petroleum (164), GEK (376), Intralot (171), Folli Follie (125) and Eurobank Properties (71).[44] Foreign Exchange rates - ThursdayReference rates per euro released by the European Central Bank:U.S. dollar 1.360 Pound sterling 0.795 Danish kroner 7.455 Swedish kroner 9.258 Japanese yen 138.38 Swiss franc 1.215 Norwegian kroner 8.403 Canadian dollar 1.450 Australian dollar 1.448 General News [45] Testimonies by 29 defendants in incidents linked to Halkidiki gold mines concludedThe main investigation regarding the "Lakkos Karatza" case, concerning a series of incidents taking place in regions of northeastern Halkidiki last year that were linked to reactions to gold mining in the area, was concluded on Wednesday with the testimonies of the 13 remaining defendants, all of whom were released.All 29 defendants who testified before the Polygyros investigating magistrate over the past days have been released, though most of them have had restrictive terms imposed on them. [46] Cannabis plantation located in southern PeloponneseKalamata drugs squad found a cannabis plantation at a remote area in Tryfillia municipality, southern Peloponnese.A 68 year-old local was arrested charged with drug cultivation and illegal gun possession. Police acting on a tip-off organised a search at a forest area of Tryfillia and located 42 cannabis plants which were grubbed up and confiscated. The 68 year-old will be sent to Kyparissia prosecutor. Weather forecast [47] Fair on ThursdayFair weather and westerly winds are forecast for Thursday. Wind velocity will reach 6 on the Beaufort scale. Scattered clouds in the northern parts of the country with temperatures ranging between 17C-35C. Fair and hot in the central and in the southern parts, 19C-37C. Sunny over the islands, 22C-33C. Hot in Athens, 21C-37C; fair in Thessaloniki, 20C-34C.[48] The Wednesday edition of Athens' dailies at a glanceAVGHI: Front for PPC and referendum.EFIMERIDA TON SYNTAKTON: Governement sells PPC and ignores the parliament. ELEFTHEROTYPIA: We decide and we order (refers to government). ELEFTHEROS TYPOS: Final arrangement with 72 installments and 40 percent haircut to fines. ESTIA: Sunday, shopping day! ETHNOS: Government, unionists clash over the evaluation in public sector. IMERISSIA: Turbulence in the Athens Stock Exchange. KATHIMERINI: Tax registration number will be stripped off from tax evaders. LOGOS: Tax evaders without tax registration number. NAFTEMPORIKI: Tax registration number will be removed from tax evaders. RIZOSPASTIS: New blow to Sunday's holiday. TA NEA: Sudden death of enterprises that evade taxation. 36, TSOCHA ST. ATHENS 115 21 GREECE * TEL: 64.00.560-63 * FAX: 64.00.581-2 INTERNET ADDRESS: http://www.ana.gr * e-mail: anabul@ana gr * GENERAL DIRECTOR: ANTONIS SKYLLAKOS Athens News Agency: Daily News Bulletin in English Directory - Previous Article - Next Article |
|
 |
|
 |
 |
|
All Rights Reserved.