The Hellenic Radio (ERA): News in English, 10-05-19

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

CONTENTS

[01] German Ban Spooks Markets

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The euro rallied strongly on speculation related to the European Central Bank on Wednesday but equity markets on both sides of the Atlantic remained lower due to Germany's move to ban some naked short sales of stocks and bonds.

Despite a 1.0 percent bounce in the euro, assets perceived as being risky mostly fell in price as concerns that Germany's move heralded tighter financial regulation, boosting risk aversion.

Crude oil slid to $69 a barrel and gold prices shed about 2 percent. Key euro and U.S. dollar interbank lending rates pushed higher after German Chancellor Angela Merkel said the euro was in danger.

European stocks lost ground for the third time in four sessions as Germany's move to ban some naked short sales sent shockwaves across financial markets, pushing the euro to a four-year low before it rebounded.

The euro rose to $1.2308 after sliding to a session low of $1.2146.

Source: Reuters News item: 36726

[02] General Strike on Thursday

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The 24-hour nationwide strike heralded by Greece's two umbrella unions for the private and public sector, GSEE and ADEDY respectively, will reduce everything to a crawl on Thursday. Transport will be seriously disrupted. It remains to be seen what will happen with the national level exams scheduled to take place on the strike day, since OLME (Federation of Secondary School Teachers) has urged teachers to abstain from their duties.

Focusing on the Pension System

Reacting to the changes in the pension system, GSEE and ADEDY have urged workers to take part in a street protest in central Athens on Thursday morning.

It remains to be seen what will happen with the national level exams scheduled to take place on the strike day, since OLME (Federation of Secondary School Teachers) has urged teachers to abstain from their duties. The Education Minister refused to reschedule the exams, as proposed by OLME, and called on teachers to not go out on a strike.

We cannot break the strike lest there should be problems in the exams, OLME head Dimitris Peppes said, further adding that Thursday's strike concerns all the workers and not certain groups.

Lawyers will also join the strike, while services in public hospitals will be cut to a bare minimum.

Transport will be seriously disrupted in the Attica basin, since there will be no bus, trolley and metro services.

Ships will remain grounded in the ports. Flights won't be affected, though, since air traffic controllers decided to abstain from the strike.

Source: NET, NET 105.8, ANA/MPA

News item: 36722

[03] COSCO Interested in More Investments

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COSCO CEO Wei Jiafu, who met with Greek Economy Minister Louka Katseli, said that China and COSCO are ready to begin investing in Greece, horizontally and vertically in terms of shipping activities. Escorted by high-profile executives, Wei Jiafu is on a four-day visit to Athens. Jiafu met Wednesday with the President of the Republic.

Business and Shipping Activities in Greece

Louka Katseli and COSCO chief Wei Jiafu touched on the business and shipping plans China and Greece could have.

Jiafu told the Greek Economy Minister that both China and COSCO are ready to begin investing in Greece if an agreement with the Greek authorities is reached.

He also expressed his company's intention to turn the Piraeus port into an international transit centre, further adding that his company wishes to expand its activities in other Greek ports, as well.

Wei Jiafu stressed that the port's turnover rose by 43% in the first quarter of 2010 under the COSCO rule, further arguing that the goal is to have the people working at the port doubled.

Commenting on Greece's economical situation, Wei Jiafu claimed that he is aware of the problem and that the Chinese delegation arrived in Greece to help.

Economy Minister Louka Katseli noted that China's involvement in business schemes is welcomed and hailed China as a strategic partner.

Meeting with Karolos Papoulias

The COSCO CEO then met with the President of the Republic.

Karolos Papoulias touched on the excellent ties the two sides share, as well as on the excellent cooperation prospects between the two nations, and called Jiafu a friend of Greece.

Jiafu, after expressing his excitement for meeting Karolos Papoulias, he underlined Papoulias' contribution to the promotion of the cooperation between COSCO and Greece.

Source: NET, NET 105.8, ANA/MPA News item: 36719

[04] Greek PM: "New Development Models Are Required"

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The fight against the financial and environmental crises requires a new development model, said the Greek Prime Minister while addressing an annual Euro-Mediterranean Energy Forum. George Papandreou referred to the joint initiative to be undertaken with Turkey so that matters pertaining to climate change in the Mediterranean can be tackled.

The Mediterranean Is a Meeting Point of Cultures

George Papandreou also touched on his imminent visit to Lebanon in order to have Lebanon involved in the above initiative.

"The Mediterranean, which has always been a historic meeting point of culture, can promote cooperation despite differences, while climate change gives us the chance to address them by joining our forces," stressed George Papandreou.

He also said that Erdogan and he will undertake the initiative to bring governments, businesses and citizens together with a view to shaping an energy safety net.

The proceedings for the initiative of the climate change in the Mediterranean will take place in Greece in October. They will be a role model in view of the forthcoming summit on climate change in Mexico.

In his address, the Turkish Prime Minister hailed the aforementioned initiative and stressed, "Climate change has to be dealt with."

Greek Premier George Papandreou argued that the non-binding agreement agreed during the Copenhagen conference on climate change brought pledges and solutions forward, further stressing that it takes tougher work for the parties involved to take decisions on the environment which is under threat.

"Thus, we will prove that the world leaders can take decisions, boosting the feeling of security, certainty and prospect among the people."

"The issue of world governance was not given a positive rating in Copenhagen," argued George Papandreou, adding the existing development model has run its course.

The Mediterranean

Touching on the Mediterranean, George Papandreou said, "We have to save the environment." Commenting on economy, he argued that the south of Europe has come up against the unwillingness and fear of the markets.

Source: ANA/MPA, NET 105.8, NET News item: 36718

[05] G. Nikitiades Named New Deputy Culture Minister

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Greek Premier George Papandreou named Georgios Nikitiades new Deputy Culture & Transport Minister after Angela Gerekou stepped down. The government spokesman said the new deputy minister will soon be sworn in. He then dismissed cabinet reshuffle scenarios, arguing, "A cabinet reshuffle is not an issue. The post of Deputy Tourism Minister was covered and there is no cabinet reshuffle on the way."

News item: 36708

[06] Riot and Fires Sweep Bangkok

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Rioting and fires swept Bangkok on Wednesday after troops stormed a protest encampment, forcing anti-government protest leaders to give up but triggering clashes that killed at least six and sparked unrest in Thailand's north.

The Thai government extended an overnight curfew in Bangkok to 21 provinces as unrest spread from the capital to seven provinces, with town halls burned in three northern areas, strongholds of anti-government protesters.

"Red shirt" protesters earlier torched at least 17 buildings in the capital Bangkok, including the Thai stock exchange and Central World, Southeast Asia's second-biggest department store complex. The store was gutted by fire and looked like it may collapse, said a Reuters witness.

The unrest is now the "most widespread and most uncontrollable" political violence Thailand has ever seen, said Charnvit Kasetsiri, a prominent political historian. Wednesday's violence came exactly 18 years after unrest known as "Black May."

It was unclear whether the continued rioting, after protest leaders surrendered, was a final outpouring by anti-government forces or the start of more intense, widespread fighting.

"The situation is worse than expected now and it's very difficult to stop," said Kavee Chukitsakem, head of research at Kasikorn Securities. "After the red shirt leaders surrendered, things were out of control. It's like insects flying around from one place to another, causing irritation."

Thai Prime Minister Abhisit Vejjajiva earlier imposed a curfew in Bangkok, a city of 15 million people, on Wednesday from 8 p.m. until 6 a.m. on Thursday (7 p.m. ET Wednesday).

Travellers heading overseas or returning to Thailand during the curfew will need to show their passports to security forces to get through checkpoints.

A news blackout has also been imposed, with local TV running programs of dancing and flag-waving Thais, periodically interrupting them for government statements like the extension of the curfew.

Source: REUTERS

News item: 36688

[07] Day Three of National Level Exams

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Day three of the national level exams for admission to tertiary education went smoothly. The candidate students were tested on the subjects of Modern Greek Literature and Maths.

Concern over Exams on Thursday

The 24-hour nationwide strike that has been scheduled for Thursday has raised concern among the candidates of afternoon schools, since teachers are to take part in the strike.

The Education Minister hoped that teachers assigned to supervise the exams will act as skeleton staff.

Source: NET 105.8 News item: 36685

[08] Wednesday, 19 May 2010 18:29

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There are no translations available.

News item: 36735

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