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Athens News Agency: News in English, 06-12-05
CONTENTS
[01] Prospects good for Greek banking, Finmin claims
[01] Prospects good for Greek banking, Finmin claims
A series of reforms and privatisations undertaken by the government
have created the right conditions for a better banking system in
Greece, Economy and Finance Minister George Alogoskoufis claimed on
Tuesday while addressing the International Banking Forum organised by
the Economist in Athens.
According to the minister, banking was a healthy, productive sector and
banks were introducing innovative services. Noting increasing
competition within the sector that benefited businesses and households,
he said this progress was largely due to the sector's heightened
competitiveness.
He attributed this to structural changes and reforms, a series of
privatisations and the restructuring of the Agricultural Bank of Greece
(ATE). He also pledge to continue reforms with the further
privatisation of the Post Offices Savings Fund and ATE, while pointing
to the government's support of National Bank of Greece (NBG) in its
expansion to Turkey, which he described as a historic event.
The minister also referred to the marked progress of the Greek economy,
with the improvement of fiscal indicators, falling unemployment, rising
exports and increasing interest displayed by foreign investors.
He pledged to continue the government's reform programme without
wavering, noting that the first cycle of reforms was coming to a close
at the end of the government's four-year term and that New Democracy
would seek the electorate's mandate to embark on a new cycle of reforms
in the next four years.
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