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

The Hellenic Radio (ERA): News in English Directory - Previous Article - Next Article

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

CONTENTS

[01] ND Leader Visits Fthiotida

Tweet

ND leader A. Samaras started his tour of Fthiotida prefecture at the "Historical Information Center" of Thermopiles Innovation Museum. Mr. Samaras had the opportunity to watch the digital illustration of the Thermopiles Battle and described the museum as a reference point for both Greeks and foreign visitors.

Contacts-Statements

Mr. Samaras was also amazed at the link of history with technology.

The ND leader visited the construction site of Stylida ring road and expressed disappointment as works are not progressing as it has happened with E65 road and the new Athens-Thessaloniki railway route. Specifically, Mr. Samaras said that this picture depicts the criminal policy of lack of Public Investment Program. He underlined that the government's policy leads nowhere.

From Lamia, Mr. Samaras strongly criticized the government for lack of public investments, and underlined that his party would exhaust any institutional possibility to bring the country into a path growth.

Mr. Samaras met with Lamia mayor while he will have contacts with Fthiotida prefect and production sectors as well as with the administration board of the Employment Center. He will also deliver a speech in the evening at Fthiotida Labour Center.

Source: ÍÅÔ 105.8 News item: 41601

[02] Eurostat to Revise Upwards Greece's Deficit

Tweet

Eurostat will this month revise upwards Greece's budget deficit and public debt figures for 2006-2009, European Commission spokesman Amandeus Altafaj said on Wednesday. He, however, added that exact percentage could not be defined yet. On its part Greece's economic staff has ruled out additional measures for 2011 and assess that state deficit would drop in 2011on the grounds of draft budget.

Greece's economic staff is highly concerned over the upward revision of 2009 state deficit expected to be released in the second half of October by Eurostat.

"The Greek budget deficit and debt figures will be revised upwards", European Commission spokesman Amadeu Altafaj told a daily news briefing while he appeared reserved on the exact percentage point.

In response to whether Eurostat revision would bring about review of memorandum, Mr. Altafaj did not give a direct response, saying that we would have to wait for final fiscal data.

Reports say Eurostat is likely to determine 2009 deficit between 14.5% and 15.1% of GNP compared to 13.8% in 2011 draft budget, a deviation the Finance Ministry leadership is called to cover.

It is expected that 2011 state deficit will be reduced by 17.4% on the basis of expected 6.9% increase in regular budget revenues and 5.9% drop in regular budget expenses.

Eurostat announced today Greek economy growth pace shrank by 1.8% in the second quarter in 2010 and 3.7% in an annual base.

The government, however, has ruled out additional measures. In an interview with state television channel NET, Finance undersecretary Filippos Sahinidis reassured that the new draft state budget does not include salary cuts or additional measures except

Source: ÍÅÔ - ÍÅÔ 105.8 - ÁNA/ÌPA

Related News: Moody's Forecast Greece's Upgrade

News item: 41610

[03] ADEDY 24-hour Strike on Thursday

Tweet

Civil Servants Union (ADEDY) is staging a 24-hour strike on Thursday, October,7 demanding repeal of memorandum policies. Apart from civil servants, customs officers, employees in the internal revenue service, local administration and social security offices are joining in the mobilizations. Grammar and high school teachers are also staging a strike while state hospitals will operate with skeleton staff due to doctors and hospital staff mobilizations. All domestic and international flights scheduled between 15:00- 19:00 will be cancelled on Thursday as air traffic controllers are participating in the 24-hour mobilization organized by ADEDY.

Demonstrations will be held in Athens and Thessaloniki on Thursday.

Source: ÍÅÔ 105.8 News item: 41593

[04] Moody's Forecast Greece's Upgrade

Tweet

International rating agency Moody's sees Greece's grade to the upside if reforms and reduction of state deficit policies continue says Bloomberg article. Moody's senior analyst Anthony Thomas said " we are impressed by reforms materialized by the Greek government" , adding " if reforms continue the country's sovereign grade is to the upside". On his part Prime-minister G. Papandreou stressed the international recognition of Greece's efforts for recovery shortly after positive assessments by the EU Commission, International Monetary Fund and Moody's.

G. Papandreou, in a press interview on Tuesday after the conclusion of European-Asia Summit meeting, said Greece was regaining its credibility. Referring to the signing of Greek-Chinese agreements he said the first investment moves are a fact.

In the meantime, the director of IMF Monetary Policy and Stock Market Department Jose Vinials expressed "hope that financial situation in Greece and Ireland would improve". In its report the European Commission says that reforms in Greece are expected to bear fruit sooner than initially forecast.

Finance Minister George Papakonstantinou, in an interview with private television channel MEGA, ruled out additional measures in the new budget. He also appeared relaxed regarding possibility of upward figure in review of 2009 deficit underlining that it would have a slight impact on 2010 deficit.

Papakonstantinou in NY

In the meantime, Finance Minister G. Papakonstantinou will have a new circle of contacts with international investors in NY , on Thursday. He will present the progress of the Economic Policy Program and the course of the Greek economy. Next, he will fly to Washington to attend the annual meeting of the IMF.

During his stay in the US, Mr. Papakonstantinou , among others will meet with his counterparts from US and Russia Timothy Geithner and Alexei Kundrin and Chinese alternate Finance Minister Zu Guanziao.

On Sunday, Mr. Papakonstantinou will meet with International Monetary Fund chief Dominique Straus Khan.

Source: ÍÅÔ 105.8 - ÁNA-ÌPA

Related News:Budget D/B Tabled to the Parliament

News item: 41591

The Hellenic Radio (ERA): News in English Directory - Previous Article - Next Article