The Hellenic Radio (ERA): News in English, 08-10-05

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From: The Hellenic Radio (ERA) <www.ert.gr/>

CONTENTS

[01] Financial Crisis Hit Germany

Sources: Reuters

Germany struggled on Sunday to rescue lender Hypo Real Estate, underlining the challenge facing European leaders who vowed to restore stability to a banking system hit by the worst crisis since the 1930s. Officials from the government, central bank and financial regulator were meeting to discuss the plight of HRE after German banks and insurers pulled out of a state-led 35 billion euro ($48.5 billion) rescue programme agreed only days ago. Belgium and Luxembourg were also scrambling to protect depositors and tens of thousands of jobs by finding a buyer for what remained of bank and insurance group Fortis after the Dutch nationalised the rest. Leaders of the biggest European countries met in Paris on Saturday to coordinate a response after the U.S. authorities approved a $700 billion bank bailout to buy up toxic assets. Chancellor Angela Merkel who attended the Paris summit where she said that those responsible for the crisis must contribute to resolving it.

[02] To Financial Weaker Citizens

05 Οκτ 2008 21:00:00

Sources: ΝΕΤ

The new financial policy for the reinforcement of financial weaker citizens will be implemented immediately with the provision of heat allowance to long-lived unemployed, low-wagers and low-pensioners according to strict financial and geographical criteria. However cost in fuel markets is expected to rise especially in remote areas even 30% up. The allowance will be distributed as shown below:

300-350 to mountainous areas 200-230 to semi-mountainous areas 110-130 to lowland areas

Translated by Sofia Gartziou

[03] Turkey: 18 Illegal Emigrants Killed in Car Accident

A truck packed with illegal immigrants from Afghanistan and Myanmar overturned in western Turkey on Sunday, 100 Km away from the Greek borders, killing 18 people and injuring 23, authorities said. The accident occurred near the town of Malkara, about 60 miles west of Istanbul, when the driver apparently lost control, authorities said. No other vehicles were involved, authorities said.

Translated by Sofia Gartziou

[04] Work Stoppage in Tram-Trolley

Tram-trolley transport will stop tomorrow Monday, due to the work stoppage staged by employees who are protesting claiming institutional and financial demands. More specifically tram and trolley lines will stop from 8 to 10 in the morning and from 20:00 to 22:00 at night.

Translated by Sofia Gartziou

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