The Hellenic Radio (ERA): News in English, 10-06-06

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

CONTENTS

[01] Siemens-Batopedi Confrontation Intensifies

Political confrontation over Siemens black money intensifies. ND party president speaks of "political cannibalism" and "mud slinging". Taxation Department officials are to hand evidence about persons who in one way or another have received money from the German company. Concerning the Batopedi-transfer of land case- PASOK National Council Secretary Sokratis Xynidis has reacted to an article in "Kathimerini"newspaper involving him in giving to the Batopedi Monastery a piece of land in Porto Lagos. Mr. Xynidis in a written statement underlined that the issue is related to blackmailing exercised on him linked with changes created by "Kallikratis plan".

Sources: ΝΕΤ, ΝΕΤ 105.8

News item: 37325

[02] Fears of State Debts' Domino Effect

EU Finance Ministers meet in Brussels on Monday to discuss a stricter Stability Plan in order to deal with fiscal deficits. In Athens Finance Minister, G. Papakonstantinou reassured that there was no reason for concern regarding the course of the memorandum. International Monetary Fund (IMF) managing director Dominique Strauss Khan flies to Budapest on Monday while EU Commissioner for Monetary Affairs Olli Rehn dismissed fears that Hungary was about to tumble into default following drop in euro currency and dive in world markets on Friday. In the meantime, G20 Finance Ministers, meeting in S. Korea, assessed that world economy was recovering at rapid but unequal pace. They, however, once again expressed concern at the high state debts.

Easing Fears over Hungary's Economy

The EU is seeking for measures to achieve economic stability after dismissal of talks about possible bankruptcy of Hungary which brought losses in world markets.

Within this framework, EU Finance Ministers meet in Brussels on Monday to discuss a stricter Stability Plan and a series of measures to bring state deficits down as proposed by German Chancellor Angela Merkel. Furthermore EU member states' state budgets will be first approved by the European Commission.

Hungary government spokesman reconfirmed that the country's economic problems are under control. Hungary had received a 20 billion euros aid from the IMF, ECB and the EU, in 2008 to avoid bankruptcy.

The European top economy official Olli Rehn dismissed concern that Hungary was about to tumble into default: "Now the Hungarian economy is on the way to recovery and has shown the first signs of strength in the first quarter of 2010. Therefore talk about Hungary's bankcruptcy was "wildly exaggerated".

Sources: ΝΕΤ, ΝΕΤ 105.8 News item: 37324

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