Athens Macedonian News Agency: News in English, 12-07-28

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

CONTENTS

[01] GSEE: Unemployment could near 28 pct if measures applied

[02] Households' available income down by 2 billion euros in Q1‏

[03] Greek-Bulgarian cooperation on construction, upgrade of road axes

[04] Piraeus Bank acquisition of 'good' part of ATEbank

[01] GSEE: Unemployment could near 28 pct if measures applied

Panagopoulos said that all of GSEE's forecasts have come true to date, noting that the "

"It is a destructive policy and no Greek government can or should accept it," he said, adding that GSEE will continue with its recourses to international and Greek courts to "deal with this wave of the attack". creditors' programme" has failed, while the Greek economy and society were being destroyed.

In statements to the press, Panagopoulos noted that the two sides had only agreed on "the fact that we disagree on everything".

He said the troika had come to Greece in the guise of doctors with the medicine that would save the Greek economy but that events had proved them to be "charlatans and quacks handing out 'cures' that destroyed and killed the Greek economy and had drastic repercussions on Greek society."

The trade union leader said that GSEE wanted the government and troika to agree that they would respect any decision made between trade unions and employers and pass this into law, stressing that GSEE was only prepared to discuss restoration of the minimum wage and the national general collective agreement.

[02] Households' available income down by 2 billion euros in Q1‏

The statistics service, in a report, said that consumer spending by Greek households and non-profitable institutions fell by 2.8 billion euros in the January-March period, while the savings rate remained negative for the fifth consecutive quarter (-10.5 pct). Net borrowing needs of the Greek economy to foreign creditors was 5.7 billion euros in the first three months of 2012, of which 4.7 billion euros covered the general government. At the same time, the general government's revenues totaled 19 billion euros, spending was 23.6 billion euros (of which 20.1 billion euros were primary spending). The government's primary deficit totaled 1.1 billion euros in the first quarter of 2012.

[03] Greek-Bulgarian cooperation on construction, upgrade of road axes

The meeting, attended by representatives of the Eastern Macedonia-Thrace Regional Authority and Bulgaria's Road Infrastructure Agency (RIA), was held within the framework of the 32.3-million-euro AccessNet Project which is part of the European Territorial Cooperation Programme Greece-Bulgaria 2007-2013.

The project is financed by the European Regional Development Fund (ERDF) (85 pct) and by national resources (15 pct).

[04] Piraeus Bank acquisition of 'good' part of ATEbank

In a statement, the bank said that this action takes place within the process framework that has been defined by the Bank of Greece and the Hellenic Financial Stability Fund, which aims at restructuring the Greek banking system and strengthening its financial stability.

Piraeus Bank's proposal ensured all job positions of Agricultural Bank's employees, which is management commitment, who would like to welcome the new employees to Piraeus Bank, the statement said.

Under the terms of the agreement, starting Monday, July 30, the whole branch network of ATEbank will operate within the Piraeus Bank entity, while maintaining the "ATEbank" commercial brand name. All customer transactions will continue to be implemented just like today without any change.

Together both forces, executives and employees of Piraeus Bank and Agricultural Bank, create a sound domestic financial institution, that provides absolute security to the agricultural world, better service to all customers, depositors and borrowers, quality service and greater potential for funding of the national economy, with €75 bn total assets, €35 bn customer deposits and €47 bn loans. The Group employs 17,000 people and the total branch network operates 1,230 branches, with a presence in 9 countries outside Greece, Piraeus Bank said.

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