Athens News Agency: News in English, 08-10-02

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From: The Athens News Agency at <http://www.ana.gr/>

CONTENTS

[01] Papandreou on economy

[01] Papandreou on economy

Papandreou, a former minister in several PASOK governments, presented what he called a plan to relieve the effects of the ongoing credit crisis, citing proposals he presented at the Thessaloniki International Fair (TIF) in early September, namely, to increase state spending for low to middle-income groups and to boost social benefits.

"PASOK's first priority is for citizens to feel secure and this will be accomplished with the immediate adoption of measures for bank borrowers' protection. Initiatives must be taken in order to help the weaker strata via a special solidarity fund; paying out a heating fuel subsidy to lower income groups and the return of VAT payments to farmers," he said.

Papandreou also called for lower rates by state-owned and bourse-listed utilities (power and telephony) as well as what he called legislation against monopolies and oligopolies, along with a fairer tax system.

The party's second target is to strengthen the Greek economy against the international fiscal and credit crisis through specific initiatives to protect depositors, along with better oversight of the credit system in every sector -- banks, the stock exchange and insurance companies.

PASOK's third goal, he said, eyes initiatives in European and international relations.

At the meeting, Papandreou also referred to the economic crisis Greek citizens are experiencing, blaming the government's policy, which he outlined as "taking from the middle and low classes to give to the rich".

"The government is trying to find an alibi for its mistakes in the international credit crisis, in order to overcome its own problems. Greek citizens understand that the crisis in Greece is homemade and signed by New Democracy's policy."

Caption: ANA-MPA file photo of main opposition PASOK party leader George Papandreou

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