Athens News Agency: News in English, 08-10-30

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

CONTENTS

[01] Karamanlis receives Ecumenical Patriarch

[02] ASE opening : Rise

[03] Áthens Newspaper Headlines

[01] Karamanlis receives Ecumenical Patriarch

Later, Karamanlis will address the 13th International Anti-Corruption Conference, which opened Thursday at the Megaron-Athens Concert Hall, organized jointly by Transparency International and the organization's Greek national chapter.

The Inner Cabinet met on Wednesday, chaired by prime minister Costas Karamanlis, to discuss the international financial crisis, and was briefed by economy and finance minister George Alogoskoufis on the latest developments.

Speaking to reporters afterwards, Alogoskoufis said that "we have one of the severest financial crises, which impacts Europe and the other countries of the world", and noted that the repercussions in Greece were fewer than elsewhere, but warned that "we must be vigilant".

Alogoskoufis said that the government has already tabled in parliament a plan aimed at increasing the liquidity of the economy, so that there would be no problems in investments, for SMEs, or for consumers.

"We have an integrated plan to confront the problems in the credit sector, and this plan will help the economy continue growth in the coming year as well," he said.

However, he warned, "we cannot overlook the fact that in the rest of Europe there are already indications of recession, which affects very many countries, and we must be vigilant in order to display flexibility and seriousness in confronting the effects".

Alogoskoufis stressed that there must be no doubt that the government will take all measures necessary for boosting the growth of the economy and for tackling the problems of those most affected by the crisis, but in the framework of the country's fiscal abilities.

The government has already given proof of its intentions, the minister said, while he also criticised "those who submit proposals that lack seriousness", adding that "proposals are being heard which, if implemented, not only would not solve the problems but would create even bigger problems for the Greek citizens".

Such proposals could be not be treated seriously, he added.

Caption: Prime Minister Costas Karamanlis (L) and Ecumenical Patriarch Bartholomew (R) outside the Maximos mansion (government's headquarters) in Athens on Thursday 30 October 2008. ANA-MPA/MARIA MAROYANNI

[02] ASE opening : Rise

Equity prices were recovering at the opening of trade on Thursday on the Athens Stock Exchange (ASE), with the basic share price index up 2.07 percent, standing at 2,010.65 points at 10:45 a.m., and turnover at 23.5 million euros.

Individual sector indices were moving upward across the board, with the exeption in Personal & Household Goods, down 1.34 percent.

The biggest gains were in Mass Media, up 6.08 percent; Insurance, up 4.98 percent; Oil & Gas, up 3.77 percent; Raw Materials, up 3.94 percent; and Health, up 3.01 percent.

The FTSE/ASE 20 index for blue chip and heavily traded stocks was up 2.57 percent, the FTSE/ASE MID 40 index was up 1.56 percent, and the FTSE/ASE-80 small cap index was up 3.71 percent.

Of the stocks moved, 118 were up, 9 were down, and 15 were unchanged.

[03] Áthens Newspaper Headlines

The government's measures to fortify the financially weaker strata in the ongoing international crisis and FinMin George Alogoskoufis and Enviroment and Town Planning Minister George Souflias' strong disagreement on the administration of the state finances dominated the headlines on Thursday in Athens' newspapers.

ADESMEFTOS TYPOS : "Stock markets rising - Rise on Athens Stock Exchange of 9.54 percent ".

APOGEVMATINI: "102.000 new hirings in public and private sector".

AVGHI: "Government's and banks' collusion - The 28 billion euros support was offered without any substantial reasons".

AVRIANI: "FinMin Alogoskoufis injects money into the market - 28 billion euros package".

CHORA: "Government playing games on the people's backs".

ELEFTHEROS: "Employment Minister Fani Palli-Petralia's rage against banks " We will not leave unprotected the citizens who have borrowed from the Workers' Housing Organisation".

ELEFTHEROS TYPOS: "The banks refusing two out of three loans - The credibility issue brings a drastic reduction in loan extension".

ELEFTHEROTYPIA: "Arguments among top members of the government, to the backdrop of the financial crisis".

ESTIA: "The economy is the government's Achilles' heel".

ETHNOS: "New crash in the government - Unfortunately the support package for the crisis went bankrupt".

KATHIMERINI: "Two opinions prevail in the higher ranks of the government on the crisis - Souflias vs. Alogoskoufis".

LOGOS: "Prime Minister Costas Karamanlis will announce on Friday from parliament a package of measures for the financially weaker groups".

NIKI: "The government offers crumbs ".

RIZOSPASTIS: "The people must organise the counterattack to the financial crisis with demands for relief measures."

TA NEA: "Alogoskoufis, Soulias begin civil war over the...non-measures".

TO VIMA: "Maastricht collapses! Upset of the Stability Pact looms ahead".

VRADYNI: "First package against the crisis - Support measures for the middle incomes and the unemployed".

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