Read The Treatment of the Armenians in the Ottoman Empire (Part 1) (by Viscount Bryce) Read the Convention Relating to the Regime of the Straits (24 July 1923) Read the Convention Relating to the Regime of the Straits (24 July 1923)
HR-Net - Hellenic Resources Network Compact version
Today's Suggestion
Read The "Macedonian Question" (by Maria Nystazopoulou-Pelekidou)
HomeAbout HR-NetNewsWeb SitesDocumentsOnline HelpUsage InformationContact us
Thursday, 28 March 2024
 
News
  Latest News (All)
     From Greece
     From Cyprus
     From Europe
     From Balkans
     From Turkey
     From USA
  Announcements
  World Press
  News Archives
Web Sites
  Hosted
  Mirrored
  Interesting Nodes
Documents
  Special Topics
  Treaties, Conventions
  Constitutions
  U.S. Agencies
  Cyprus Problem
  Other
Services
  Personal NewsPaper
  Greek Fonts
  Tools
  F.A.Q.
 

Athens News Agency: Daily News Bulletin in English, 16-02-05

Athens News Agency: Daily News Bulletin in English Directory - Previous Article - Next Article

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

Friday, 5 February 2016 Issue No: 5105

CONTENTS

  • [01] PM Tsipras calls for 'long-term, strategic approach' to refugee crisis at Syria donors conference
  • [02] PM Tsipras meets German Chancellor, UK counterpart Cameron
  • [03] Implementation of EU-Turkey action plan on refugees discussed in 6-party meeting in London
  • [04] Defence Minister Kammenos: The hotspots will be ready on Feb.15
  • [05] Germany to send two boats, staff to Greece to help with border security
  • [06] Frontex chief says no EU country could have handled the migration faced by Greece
  • [07] Greece needs both debt relief but also significant pension reforms, IMF's Lagarde says
  • [08] Labour minister says negotiations with lenders were 'tough', says talks to continue next week
  • [09] Finance ministry to hold new meeting with institutions on Friday
  • [10] FinMin Tsakalotos: 'No one has asked me for additional measures'
  • [11] EU Commissioner Moscovici sees first signs of Greece's stabilisation
  • [12] Government's harsh negotiation with institutions only a fairy tale, ND spokesman Koumoutsakos says
  • [13] FM Kotzias sees 'improved state of trust' in Greek-Turkish relations, in ANA-MPA interview
  • [14] FM Kotzias' visit to Baku concluded
  • [15] Collective action needed to face multiple crises, says Deputy FM Amanatidis
  • [16] Clashes between anti-establishment groups and riot police in front of the Greek parliament
  • [17] Attack on municipal radio reporter by rioters condemned
  • [18] Anti-establishment groups set up barricades on Stournari Street in Exarchia; attack on PASOK offices
  • [19] Two persons detained during clashes in central Athens
  • [20] Parliament president proposes launch of dialogue on 'open issues' in Parliament
  • [21] 100 Greeks in 'Borjans list' asked to explain bank deposits
  • [22] Greek economy proved resilient, European Commission report
  • [23] EU Commission winter economic forecasts on Greece, full report
  • [24] Greek central banker discusses NPLs with institutions
  • [25] Hellenic Petroleum seeks partners in hydrocarbon exploration and production
  • [26] ELPE, Energean Oil & Gas win gas blocks licences in western Greece
  • [27] Interest rate spread up in Dec
  • [28] Russia the hounoured country at the 81st TIF
  • [29] ECB lowers borrowing ceiling for Greek banks
  • [30] Greek stocks remain under heavy pressure, end sharply lower
  • [31] Greek bond market closing report
  • [32] ADEX closing report
  • [33] Singer Haris Alexiou talks to ANA-MPA Turk about refugees, roots and returns
  • [34] Refugees and migrants continue to arrive on Lesvos despite the adverse weather conditions
  • [35] Large number of refugees wait at Greece-Fyrom crossing point
  • [36] Weather forecast Politics

  • [01] PM Tsipras calls for 'long-term, strategic approach' to refugee crisis at Syria donors conference

    LONDON (ANA-MPA)

    Greece's Prime Minister Alexis Tsipras on Thursday urged the international community to adopt a "long-term, strategic approach," to the still-unfolding Syrian refugee crisis, focused on "effective and humane management of refugee flows."

    "The Syrian crisis has humanitarian consequences that will stay with us for decades. We cannot deal with them by building walls or pushing back people in the sea and risking deaths. We cannot push people from country to country, as if they are someone else's responsibility," he said, addressing the donors conference 'Supporting Syria and the Region' in London.

    "I wonder what would have happened to millions of Syrians if Turkey, Jordan or Lebanon had decided to build walls or if all of Europe had said : 'Refugees aren't welcome here. What happens in the Mediterranean is not our problem,'" he added, pointing out that the Syrian conflict was now in its sixth year "with no end in sight".

    "As the UN Secretary General said, the international community has a heavy responsibility for this crisis. We cannot afford to see the consequences of the crisis only in terms of geopolitics and public order," Tsipras pointed out.

    He also stressed the heavy burden that the refugee crisis had placed on cash-strapped Greece and especially the Greek islands:

    "Greece has experience first-hand the humanitarian consequences of this crisis, and we insist on dealing with this challenge with humanity and on the basis of international and European values. Since July we have faced flows of over 900,000 people, of which around 500,000 were Syrians.

    "The cost of managing these flows and the burden on state capacities has been enormous. The coast guard has rescued more than 150,000 migrants, many of our islands have hosted more people daily than their population. And the people of Greece are doing all they can to support Syrian refugees."

    Tsipras called for a long-term approach and a "response that focuses on cooperation with and assistance to countries that neighbour Syria, which carry an enormous burden of millions of refugees."

    He called for pledges that ensure the integration of refugees in these countries while stemming migration flows.

    "We have discussed relevant projects on the basis of the EU-Turkey action plan and we must work harder for this plan to succeed. We must push for education programmes and brave economic initiatives that create employment opportunities in Jordan and Lebanon, we must work on a robust resettlement programme to Europe and other countries," he said.

    "At the same time, we need to press and support UN talks for a political settlement to the Syrian conflict that will end all attacks against civilians and confront terrorism. A settlement that will create conditions for reconciliation and will return civilians to their homes," he added, announcing that Greece pledges 300,000 euros to the UN for 2016.

    "It is a symbolic sum but the daily struggle of the Greek people to support and host refugees is not symbolic it is priceless," he said.

    After the end of the conference, Tsipras had a meeting with Labour Party leader Jeremy Corbyn.

    [02] PM Tsipras meets German Chancellor, UK counterpart Cameron

    LONDON (ANA-MPA/ N. Lionakis)

    In his meeting with German Chancellor Angela Merkel here on Thursday, Greek Prime Minister Alexis Tsipras noted that disagreements between the institutions must not be allowed to delay the review of Greece's programme, Greek government sources said. Tsipras met the German chancellor on the sidelines of the Syria donors conference taking place in London.

    Their discussion mainly focused on the refugees issue, though they also discussed the progress of Greece's fiscal adjustment programme.

    According to the sources, the Greek prime minister highlighted the positive signs indicating that the Greek economy might be returning to growth, such as an increase in tax revenues, the 97 pct absorption rate for European funds, the creation of 170,000 additional jobs in 2015 and the successful recapitalisation of Greece's banks, as well as the closing of agreements in the energy sector that could make Greece an energy hub.

    Merkel and Tsipras also discussed Greece's proposals for reforming the pension system, the same sources said, with Tsipras noting that the proposal was "within the framework of the agreement" and pointing out that the institutions had had the Greek proposal since the start of the year.

    "I do not understand why there are delays," Tsipras was quoted as saying by the sources, while adding that disagreements between the institutions representing Greece's creditors should not be allowed to delay the review of the country's programme.

    Merkel asked the Greek prime minister about the domestic social and political situation in Greece, the sources said.

    On the refugee issue, government sources said that Merkel asked that the Greek hotspots be completed by February 18, in time for the European Council in Brussels. The government has repeatedly said that it will have implemented its commitments by that date, they noted.

    The Greek government has also underlined that, once the Italian prime minister lifts obstacles to financing, there must be immediate implementation of the agreements in the EU-Turkey joint action plan. Greece is additionally asking for full implementation of the Greece-Turkey readmission protocol and pushing strenuously for the implemenation of a refugee relocation tool that is currently moving at negligible rates.

    The refugee issue was also discussed during a meeting between Tsipras and UK Prime Minister David Cameron. According to government sources, Cameron expressed his full support for Greece and an agreement was reached on setting up a bilateral team with British experts with knowhow in the readmission of Pakistanis, who will soon be coming to Athens.

    The UK also offered assistance to the Greek coast guard in the form of personnel and on a technical level, they said.

    On 'Brexit', Tsipras commented only that "we are not in favour of exits," the sources added.

    [03] Implementation of EU-Turkey action plan on refugees discussed in 6-party meeting in London

    LONDON (ANA-MPA/ N. Lionakis)

    The implementation of the action plan agreed between the European Union and Turkey was discussed in a six-party meeting in London on Thursday, with the participation of Prime Minister Alexis Tsipras, on the sidelines of the of the Syrian donors conference 'Supporting Syria and the Region'.

    Talks focused on reducing the refugee and migrant flows towards Europe, the implementation of the readmission agreement signed between Greece and Turkey and the promotion of a reliable refugee relocation program directly from Turkey towards EU member-states.

    The meeting was also attended by German Chancellor Angela Merkel, Austrian Chancellor Werner Faymann, Dutch Prime Minister Mark Rutte, Turkish Prime Minister Ahmet Davutoglu and the President of the European Council Donald Tusk.

    [04] Defence Minister Kammenos: The hotspots will be ready on Feb.15

    Defence Minister Panos Kammenos stated on Thursday from Mytilene that "all hotspots across the country will be ready by February 15."

    Kammenos, who is currently on Lesvos, the last stop of his tour on the islands of the eastern Aegean, also said: "In the armed forces we follow orders and the armed forces at this moment prove that they successfully complete their work. All hotspots will be ready, everyone from me to the last soldier will work hard and will do what we have said we will do."

    He said that "we will deliver the hotspots on February 15 because that's the country's commitment. The hotspots will be even better than what some believe they will be."

    [05] Germany to send two boats, staff to Greece to help with border security

    BERLIN (ANA-MPA/F. Karaviti)

    Germany will send two coast guard boats and gradually 100 employees to Greece from March 1 to support the Greek government's efforts to secure the external borders of the European Union, German Interior Minister Thomas de Maizi?re told German media on Thursday.

    He also asked Greece to mobilize more on the issue but admitted the country is particularly burdened because of its geographical position, adding it needs Europe's support. "In principle, we're not asking for much when we ask all those who are included in agreements to adhere to the standing European legislation," he said. "Greece's contribution should be based on that (...) Europe must be able to rely on this Greek contribution. On the other hand, Greece will then be able to count on Europe."

    [06] Frontex chief says no EU country could have handled the migration faced by Greece

    BRUSSELS (ANA-MPA/ M. Spinthourakis)

    No EU member-state could have dealt alone with a 18fold increase in the number of illegal arrivals on its soil, the head of the bloc's border agency Frontex, Fabrice Leggeri, said on Thursday during a hearing on the refugee crisis at the Belgian parliament.

    Leggeri also said it should also be noted that in the spring of 2015 Greece was facing an economic crisis, so it ended up dealing with two crises.

    [07] Greece needs both debt relief but also significant pension reforms, IMF's Lagarde says

    Greece needs significant pension reforms to make the system sustainable but this must be accompanied by debt relief from its European partners, International Monetary Fund (IMF) Managing Director Christine Lagarde said on Thursday in a press conference.

    "I have always said that the Greek program has to walk on two legs: one leg is the one of significant reforms and the other one is a debt relief. We persist on that view...if the pension reform cannot be as significantly, substantially deeply reformed as needed, it will mean more debt relief on the other side," she said.

    But equally, she pointed out, no amount of debt relief will actually make the pension system sustainable. Greece would currently have to devote 10 pct of GDP in its annual budget to keep the pension system afloat and this was not sustainable, she added.

    "This is not sustainable, the average in Europe is 2.5% of GDP. So it all needs to add up but at the same time the Greek pension system needs to be sustainable in the medium and long term, and that requires taking short term measures now that will last in order to make it sustainable," she explained.

    Lagarde also denied that the IMF was pushing for "draconian" measures in Greece:

    "We have said all along that the fiscal consolidation should not be excessive, so that the economy could continue to work and eventually expand, but it needs to add up. The pension system needs to be reformed, the tax collection system needs to be improved so that revenue comes in, evasion is stopped, and the debt relief by the other European must accompany that process."

    For this reason, the IMF would very attentive to the sustainability of the reforms, she added. "We want that country to succeed at the end of the day, but it has to succeed in real life, not on paper," she said.

    [08] Labour minister says negotiations with lenders were 'tough', says talks to continue next week

    Labour, Social Insurance and Social Solidarity Minister George Katrougalos said on Thursday negotiations with the heads of the institutions' mission were "tough" but that all the issues have been included in an official agenda.

    "It was a particularly analytical, tough negotiation, in which however we promoted the issues our side wanted to state," the minister told journalists after the meeting.

    "You know that I have asked them to state in writing all their open issues, so that we can discuss a specific agenda. This happened. Earlier this morning we discussed this agenda, which is basically an analytical review of the law, article by article. Our understanding is that we will continue the talks with the technical teams next week, so that we can push forward with all the possible issues and have the draft bill voted as soon as possible," he added.

    Katrougalos also said he briefed the institutions that there could be changes on the initial plan submitted by the government and noted that they said they will give their final opinion soon. "Therefore all issues remain open. We continued this tough negotiation in a way that it appears to be realistic to reach an agreement which will be good for the country soon."

    [09] Finance ministry to hold new meeting with institutions on Friday

    The government's economic team will meet anew with the heads of the institution's mission in Athens on Friday to conclude the first phase of the negotiations, it was announced on Thursday.

    The meeting will be held at 11.00 (local) and participants are expected to take stock of the first week. The representatives of the institutions are then expected to leave Athens and return after about 10 days to continue the first program review, government sources said.

    [10] FinMin Tsakalotos: 'No one has asked me for additional measures'

    "No one, up until now, has asked me for additional measures in the framework of the meetings that are continuing today with the heads of the institutions' missions," Greece's Finance Minister Euclid Tsakalotos commented on Thursday.

    He was replying to a question concerning the European Commission's report and its forecasts for the Greek economy.

    [11] EU Commissioner Moscovici sees first signs of Greece's stabilisation

    BRUSSELS (ANA-MPA/Chr.Vassilaki)

    The Greek economy has the potential to show growth, EU Commissioner for for Economic and Financial Affairs Pierre Moscovici on Thursday said during a press briefing on European Commission's winter estimates.

    He also referred to "complex" situations and "personalities" in Greece which caused problems last year. He also said that the "new government" is more stable and has proceeded with "generous" and "necessary" reforms.

    "The stability that was rediscovered allows us to believe that this time our estimates will be correct. But the key is the reforms and the implementation of the program," said the French Commissioner, and referred to the pension reform, which he described as the most "necessary."

    Asked on whether Greece can be treated with flexibility due to the refugee crisis, he said that the negotiations carried out in Athens right now do not concern the Schengen Treaty. "We are discussing the necessary reforms in the framework of the memorandum," he underlined.

    Earlier he said that the European Commission's winter estimates show the first signs of stabilisation of the Greek economy.

    He underlined that despite the fact that Greece will record recession in 2016, it will be smaller than expected in the autumn forecast, which, as he said, is a "positive development." Despite the difficult last year, these are the first signs of recovery, said the French Commissioner and added that "the improved forecasts should not stop the efforts or lose the last months' momentum."

    "The implementation of reforms is the key," he noted. Moscovici did not hide, however, his concern over the negative impact of a possible new resurgence of the Greek crisis on the world economy.

    Referring to the negotiations held in Athens between Greek authorities and the representatives of institutions, he said that the Commission will continue "its pressure to quickly complete the first program review", stressing, however, that "both sides share the responsibility."

    [12] Government's harsh negotiation with institutions only a fairy tale, ND spokesman Koumoutsakos says

    New Democracy (ND) spokesman Giorgos Koumoutsakos in his briefing to the press on Thursday referred to the government's deliberations with the lenders and accused the government that it attempts to cultivate the tale of the harsh negotiation. "It is a public relations tale, there is no negotiation," said Koumoutsakos.

    He reminded that the government's initial position was the social security and the taxation bills to be submitted to parliament in October and now the date is unspecified. "Which issue the negotiated and brought better results?" asked Koumoutsakos adding that the negotiation is judged from the result and not from how hard it is.

    He sternly attacked the government accusing it of speaking of conspiracy and destabilisation scenarios and that it attempts to create enemies, to polarise, to divide and to incite the people "because the impasses it created are growing".

    [13] FM Kotzias sees 'improved state of trust' in Greek-Turkish relations, in ANA-MPA interview

    Greece and Turkey are engaged in sincere dialogue "and I think that the state of trust is better than it was a year ago," Foreign Minister Nikos Kotzias said in an interview with the ANA-MPA released on Thursday.

    Kotzias noted that relations between the two countries "have a series of problems that we must resolve," adding that this solution must be based on international law and on trust between the two people and their respective services, but primarily between the two prime ministers and foreign ministers.

    Regarding the refugee crisis and Ankara's stance on this issue, Kotzias pointed out that hundreds of thousands of refugees were entering Turkey and that the international community must provide support.

    "...first there must be financial support for Jordan and Lebanon, so that refugees don't leave the refugee camps and stay close to their homes, and secondly the agreements between the EU and Turkey must be implemented, such as the international agreements on readmission between Greece and Turkey, or Turkey and Pakistan," he said.

    Asked about the tension between Russia and Turkey, Kotzias noted that the war in Syria had brought many countries and groups into conflict, including different Islamic groups and countries.

    "As regards the latest incidents between Turkey and Russia, you know our country always wants to operate in a way that calms things down, in a correct and just way, and implements the principles of international law. From this standpoint, we are always open to contributing to a discussion between the more divergent opinions in this region."

    On the abolition of the guarantees and guarantor powers in Cyprus, the minister noted that Greece said they should be abolished "but I also said that Greece has no intention of remaining in such a regime - and it will leave - which is entirely new."

    He noted that the issue was now being discussed by the Americans, while the British have said that they will not seek guarantor status if Greece and Turkey reach agreement. He noted that China described the guarantor regime as "anachronistic" and Russia's UN representative had called it a "relic of colonialism" that should be abolished.

    "I think an idea of Greek diplomacy is for the first time progressing in the best way and we are in working and collaborating closely with the Cyprus government," he said.

    [14] FM Kotzias' visit to Baku concluded

    Foreign Ministry Nikos Kotzias on Thursday will leave from Baku after a particularly constructive two-day meeting for the Strategic Energy Greece-Azerbaijan alliance.

    Kotzias visited Baku at an invitation of Azerbaijani Foreign Minister Elmar Mammadyarov. He had a series of meetings with senior officials in the country.

    Kotzias underlined that Greece can be a "real friend" and supporter while both sides stressed the importance of advancing the implementation of the project that in a two-year period could supply Europe with Azeri natural gas.

    Azerbaijan has expressed its interest in TAP pipeline, but this has further increased after the economic crisis and the reduction in oil prices, forcing the government to devalue twice in 2015 the national currency, the manat; the first one at the beginning of the year by 30 percent and the second one in December last year, by 50 percent.

    Bilateral and regional issues such as the refugee crisis as well as the conflict in Syria and the possibilities of cooperation in the commercial and cultural area were also among the issues discussed during the meetings.

    [15] Collective action needed to face multiple crises, says Deputy FM Amanatidis

    Collective action is the only way to face the multiple crises created by a wider instability, Deputy Foreign Minister Yiannis Amanatidis said at the 20th anniversary of the Southeast European Cooperation Process (SEECP), held in Sofia.

    "The refugee crisis is one of those crises," Amanatidis said adding that the current Bulgarian chairmanship of the SEECP wisely decided to include this issue in its main priorities, as it is the most pressing challenge that Europe and the world are facing today."

    He pointed out that Greece, located at the EU external borders, although disproportionately burdened over the last months, has made and continues to make every effort to assist refugees.

    Focusing on the countries of South East Europe Cooperation Process, the Foreign Minister noted that "we have been at the forefront of the current refugee crisis and many of us share the heavy burden of dealing with it." However, he expressed concern about unilateral measures that have been taken along the path of the Western Balkans, which, as he said, are not in accordance with either the Declaration of the High-Level Conference for the Eastern Mediterranean - route of the Western Balkans, nor the leaders' statement on refugee flows along the path of the Western Balkans. He even argued that such measures would ultimately bring counterproductive results and have already created unnecessary tensions between states "which, now more than ever, must stand in solidarity with each other."

    [16] Clashes between anti-establishment groups and riot police in front of the Greek parliament

    Clashes between anti-establisment groups and riot police are reported taking place at Syndagman square in front of the Greek parliament.

    The anti-establishment groups are throwing firebombs while police are making use of tear gas and stun grenades.

    A while ago a group of unknown individuals threw firebomb at the Bank of Greece building at Panepistimiou street.

    Earlier, unknown individuals attacked a radio station reporter that was covering the mobilisations and rallies in downtown Athens.

    The reporter was hit all over his body and was sent to hospital.

    [17] Attack on municipal radio reporter by rioters condemned

    Main opposition New Democracy and the Athens municipality both condemned an attack on the reporter Dimitris Perros, who was badly beaten by hood-wearing rioters while covering Thursday's protest rally for the Athens municipal radio 'Athina 9.84'.

    ND spokesman George Koumoutsakos noted that a handful of people in hoods had marred the expression of discontent of the many and wished the reporter a speedy recovery.

    An Athens municipality announcement said the action targeted freedom of the press and sought to terrorise journalists.

    Perros was hit in the head and is now undergoing tests at Erythros Stavros hospital.

    [18] Anti-establishment groups set up barricades on Stournari Street in Exarchia; attack on PASOK offices

    Anti-establishment groups had set up barricades on Stournari Street near Exarchia Square on Thursday and set fire to rubbish bins.

    Meanwhile, a strong force of police was gathered on Patission Street.

    A group of unidentified individuals also threw petrol bombs at a MAT riot police squad stationed outside the offices of the PASOK party at 15:00. The police are now trying to locate and arrest those responsible.

    [19] Two persons detained during clashes in central Athens

    Two individuals were taken in for questioning alleged to be involved in the clashes that broke out earlier on Thursday in downtown Athens.

    [20] Parliament president proposes launch of dialogue on 'open issues' in Parliament

    Parliament President Nikos Voutsis on Thursday proposed the immediate launch of dialogue in the appropriate Parliamentary committees on all the major open issues, such as pension reform and farmers, with the participation of all relevant bodies and organisations.

    Accepting a resolution from a trade union delegation protesting in central Athens, Voutsis noted that this dialogue must begin before the negotiation with the creditors is concluded.

    [21] 100 Greeks in 'Borjans list' asked to explain bank deposits

    Financial prosecutors have sent notices to 100 Greeks asking them to explain their large bank deposits in Switzerland's UBS, as part of the ongoing investigation in the so-called 'Borjans list', it was announced on Thursday.

    The list of bank depositors was given to Greek authorities by the German state of North Rhine-Westphalia. Those investigated by the tax authorities appear to have large discrepancies between their declared income and the amounts found in the bank in the period between 2000 and 2012. If they fail to justify their deposits, they could face charges of tax evasion and money laundering.

    "Taxpayers of a medium or even small income in Greece appear to be large depositors; a good or excellent client of Swiss banks abroad," a source involved with the case said.

    Among those called to appear before the prosecutors are doctors, lawyers, civil engineers and pensioners from the civil service, as well as one case of an individual who is officially declared as having no profession but has deposits totaling 7 million euros.

    Financial News

    [22] Greek economy proved resilient, European Commission report

    The Greek economy proved "resilient" despite the introduction of capital controls, the European Commission said in its winter economic forecast report, released here on Thursday.

    The EU's executive said that in the first three quarters of 2015, Greece's economy proved resilient despite the introduction of the emergency bank holiday, capital controls, and heightened uncertainty related to prolonged programme negotiations. Private consumption was stronger-than-expected, with households preferring to spend their bank deposits to avoid potential haircuts. However, fiscal drag is expected to weigh on disposable income and private consumption up to the first half of 2016. The tourism sector continued to perform exceptionally well during the autumn. Imports are projected to continue declining faster than exports, resulting to net trade contributing positively to growth. Business confidence, reflected in the Economic Sentiment Indicator and the Purchasing Managers Index, has also recovered relatively quickly from the sharp falls in the summer. Economic sentiment stabilised in October and improved further in December.

    Overall, the Commission's estimate for economic growth in 2015 has been revised upwards to 0.0%. Real GDP is expected to contract by 0.7% in 2016, amid the negative carryover from 2015 and the faltering domestic demand in the first half of the year. In the second half of 2016, economic activity is set to strengthen supported by a rebound in confidence, the expected easing of capital controls, and compliance with the conditionality of the new ESM assistance programme. Investment should also benefit from the successful recapitalisation of the banks and the re-launch of privatisations.

    Steady implementation of structural reforms should gradually strengthen economic fundamentals, investment and other components of aggregate demand, leading to a projection of 2.7% for real GDP growth for 2017.

    The unemployment rate is expected to fall from 25.1 pct in 2015 to 24 pct in 2016 and to 22.8 pct in 2017. Greece's fiscal deficit is expected to rise to -7.6 pct of GDP in 2015 falling to -3.4 pct in 2016 and -2.1 pct in 2017. The country's public debt is expected to reach 179 pct of GDP in 2015, rising to 185 pct in 2016 and to begin falling from 2017 onwards (181.8 pct).

    The inflation rate is projected at -1.1 pct in 2015, rising to 0.5 pct in 2016 and 0.8 pct in 2017, while investments are expected to shrink further (-8.4 pct in 2015, -3.7 pct in 2016) to rise by 12.8 pct in 2017.

    [23] EU Commission winter economic forecasts on Greece, full report

    The recession in Greece in 2015 now appears to have been less severe than expected. Resilient consumption, the successful recapitalisation of banks, steady implementation of structural reforms under the new ESM programme and progress with privatisation should support the rebound in confidence and bring positive growth and stronger fiscal results by the second half of 2016, the European Commission said in its winter economic forecasts for Greece.

    In the first three quarters of 2015, Greece's economy proved resilient despite the introduction of the emergency bank holiday, capital controls, and heightened uncertainty related to prolonged programme negotiations. Private consumption was stronger than expected, with households preferring to spend their bank deposits to avoid potential haircuts. However, fiscal drag is expected to weigh on disposable income and private consumption up to the first half of 2016. The tourism sector continued to perform exceptionally well during the autumn. Imports are projected to continue declining faster than exports, resulting in net trade contributing positively to growth. Business confidence, reflected in the Economic Sentiment Indicator and the Purchasing Managers Index, has also recovered relatively quickly from the sharp falls in the summer. Economic sentiment stabilised in October and improved further in December. Overall, our estimate for economic growth in 2015 has been revised upwards to 0.0%. Real GDP is expected to contract by 0.7% in 2016, amid the negative carryover from 2015 and the faltering domestic demand in the first half of the year. In the second half of 2016, economic activity is set to strengthen supported by a rebound in confidence, the expected easing of capital controls, and compliance with the conditionality of the new ESM assistance programme. Investment should also benefit from the successful recapitalisation of the banks and the re-launch of privatisations. Steady implementation of structural reforms should gradually strengthen economic fundamentals, investment and other components of aggregate demand, leading to a projection of 2.7% for real GDP growth for 2017.

    Greece's current account deficit is expected to have declined in 2015 as a whole, partly owing to imports' sharp contraction. The current account is expected to improve further as past and ongoing structural reforms improve external competitiveness. The unemployment rate is estimated to have fallen in 2015 and should continue to do so in 2016 due to the lagged effects of previous improvements in labour market flexibility. Following large decreases in recent years, compensation per employee is expected to start increasing in 2017. The HICP inflation turned out negative in 2015, since the impact of lower oil prices and weak demand have outweighed the increase in the VAT rate for many items. However, consumer prices are expected to increase as of 2016 in line with the projected economic recovery. Upside risks to the growth outlook are related to stronger confidence following progress with programme reform implementation and a swifter lifting of capital controls. On the downside, failure to fully deliver on the reform programme and policy uncertainty would undermine growth prospects.

    One-off factors related to the recapitalisation of the banking sector completed in late 2015 are assumed to deteriorate the fiscal balance by 3.3 pps of GDP, pushing the headline deficit to 7.6% of GDP in 2015.

    The 2016 budget envisages additional savings of 1.1% of GDP from structural reforms in the pension system and income tax, and through a rationalisation of spending that still needs to be specified and implemented. However, further measures will be needed in 2016 and 2017 in order to reach the programme's primary surplus targets of 0.5% of GDP in 2016 and 1.75% of GDP in 2017. As part of the first review of the ESM programme, the Greek government has committed to legislate to ensure that the primary surplus targets throughout the programme are met. Based upon the primary balance targets, the headline deficit is projected to fall to 3.4% of GDP in 2016 and 2.1% of GDP in 2017. Downside risks include higher spending to deal with asylum-seekers inflows and possible delays in the specification and implementation of the additional fiscal consolidation package. The upside risks to forecast stem mainly from revenue administration reforms (whose impact is not included currently in the forecast), and revenue buoyancy in light of the overall resilience of the macroeconomy and tax collection in the second half of 2015.

    Given the lower-than-expected cost of recapitalising the banks, the public debt projection has been revised down vis-?-vis the autumn forecast. The general government debt-to-GDP ratio is now expected to peak in 2016 at 185.0% before declining in 2017 to about 182%.

    The fiscal policy measures agreed with the authorities in the third quarter of 2015 as part of the adjustment programme are expected to deliver savings of up to 2% of GDP through 2017 and result in a primary deficit according to the programme definition (48) close to the target of -0.25% of GDP in 2015.

    [24] Greek central banker discusses NPLs with institutions

    Greece's central bank governor Yiannis Stournaras completed a meeting on non-performing loans (NPLs) with the heads of the institutions' mission in Athens on Thursday.

    "I have a good feeling on the progress of the negotiations," a senior banker said after the meeting, adding that the two sides discussed the setting of targets in each bank to manage bad loans, as well as the procedures and licensing schedule for establishing companies that will manage NPLs.

    According to the timetable, the licensing of these companies will start on February 29 and some companies have already expressed interest, the source said. The Bank of Greece also plans to complete the Code of Conduct for settling NPLs by the summer.

    Concerning specifically the bad loans of businesses, sources said a report by Blackrock sent to all Greek banks contains various management models.

    [25] Hellenic Petroleum seeks partners in hydrocarbon exploration and production

    Hellenic Petroleum (ELPE) is looking forward to business partnerships for hydrocarbon exploration and production, Grigoris Stergioulis, chief executive of the Group said on Thursday, after the news that ELPE has won a tender for the concession of hydrocarbon exploration and production rights in the regions of Arta-Preveza and Northwestern Peloponese.

    "We seek to create business groups with oil companies, which will contribute ideas, knowledge and financial support. We begin autonomously, but we are open to partnerships and proposals which will be based and fulfill business rules of the global industry. It is our non-negotiable duty to implement all technological methods that will allow us the find and exploit any hydrocarbon fields, to the benefit of the company, of the country's economy and local societies, safeguarding a priceless heritage we have as a people, the natural wealth of our seas and mountains," Stergioulis said.

    He noted that natural gas exploration and production in Greece was a "strategic goal on which the company invests", with big comparative advantages such as expertise from explorations in 39 regions in Greece and abroad, know-how and knowledge of the Greek space. Hellenic Petroleum and Italian Edison are conducting exploration works in the Western Patras Gulf region.

    [26] ELPE, Energean Oil & Gas win gas blocks licences in western Greece

    Environment and Energy Minister Panos Skourletis awarded to Greek refiner Hellenic Petroleum (ELPE) two out of three blocks which were part of a tender offering exploration and exploitation licenses at three onshore blocks in western Greece, the ministry announced on Thursday.

    According to the announcement, the Arta-Preveza block was awarded to ELPE (Hellenic Petroleum), while the Etoloakarnania block will be granted to oil producer Energean Oil & Gas. Finally, the northwestern Peloponnese block is given to ELPE. The relevant evaluation committee will now invite the two companies to finalise the agreements, the ministry added.

    [27] Interest rate spread up in Dec

    The interest rate spread between loan and deposit rates increased by 19 basis points to 4.53 pct in December, the Bank of Greece said on Thursday.

    In a monthly report, the central bank said that in December 2015, the overall weighted average interest rate on new deposits remained almost unchanged, while the corresponding rate on loans increased. The overall weighted average interest rate on all new deposits remained almost unchanged at 0.56 pct. In particular, the average interest rate on overnight deposits placed by households remained unchanged at 0.15 pct and the respective rate on deposits by non-financial corporations remained almost unchanged at 0.19 pct. The average interest rate on deposits placed by households with an agreed maturity of up to one year also remained almost unchanged at 1.02 pct, in December 2015.

    The overall weighted average interest rate on all new loans to households and corporations increased by 17 basis points from the previous month to 5.09 pct.

    More specifically, the average interest rate on consumer loans without a defined maturity (a category which comprises credit cards, open account loans and overdrafts) remained almost unchanged at 14.61 pct. The average interest rate on consumer loans at a floating rate increased by 73 basis points to 7.89 pct.

    The average interest rates on corporate loans and loans to sole proprietors without a defined maturity remained almost unchanged at 6.05 pct and 7.48 pct respectively. The average interest rate on corporate loans with a defined maturity at a floating rate increased by 15 basis points to 5.21 pct. Finally, the average interest rate on housing loans at a floating rate increased by 23 basis points to 2.69 pct.

    In December 2015, the overall weighted average interest rate on the outstanding amounts of all deposits decreased, while the corresponding rate on all loans remained almost unchanged. The spread between loan and deposit rates stood at 4.49 percentage points compared with 4.46 percentage points in the previous month.

    [28] Russia the hounoured country at the 81st TIF

    Russia will be the honoured country at the 81st Thessaloniki International Fair (TIF) that will be held on 10-18 September 2016 within the framework of the "Greece-Russia Year."

    Serbia was the last hoounoured country in 2011 at the 76th TIF.

    Russia's Interest and Trade Minister is responsible for the Russian participation. The activities of Russian enterprises will be exhibited in a 3,000 square-meter pavillion as well as the open area in front of it.

    A series of cultural, entertainment and educational events as well as a business forum on the Russian enterprises interest in Greece as well as the fields of a cooperation between the two sides will take place within the framework of the Russian presence in the fair.

    [29] ECB lowers borrowing ceiling for Greek banks

    European Central Bank lowered the borrowing ceiling for Greek banks through the Emergency Lending Assistance mechanism (ELA) by 300 million euros to 71.5 billion.

    ECB accepted a request made by the Bank of Greece as Greek banks' liquidity improved and private sector deposits stabilized.

    [30] Greek stocks remain under heavy pressure, end sharply lower

    Greek stocks came under heavy selling pressure for the second successive session in the Athens Stock Exchange on Thursday, to push the composite index of the market near the 500-point psychologically-critical level, amid uncertainty over the outcome of negotiations between Greek authorities and the country's creditors. The index ended 3.83 pct lower at 509.45 points -the lowest closing since mid-June 2012- losing 7.79 pct in the last two sessions, while the bank index lost 19.44 pct in the same period. The market's capitalisation shrank by 3.2 billion euros in the last two sessions. The Large Cap index dropped 5.49 pct and the Mid Cap index ended 5.24 pct lower. Turnover was an improved 81.149 million euros in volume of 157,205,866.

    Folli Follie (1.33 pct), Athens Water (1.13 pct) and Titan (0.59 pct) scored gains among blue chip stocks, while Eurobank (12.75 pct), Alpha Bank (10.30 pct) and National Bank (9.33 pct) suffered the heaviest percentage losses of the day. National Bank and Piraeus Bank were the most heavily traded securities of the day. Among market sectors, Health (1.97 pct) and Commerce (1.13 pct) scored gains, while Banks (10.29 pct), Food (8.0 pct) and Financial Services (6.30 pct) suffered heavy losses.

    Broadly, decliners led advancers by 72 to 25 with another 19 issues unchanged. Ionian Hotels (20 pct), Sidma (19.85 pct) and Boutaris (18.75 pct) were top gainers, while Attica Bank (22.22 pct), Sfakianakis (19.64 pct) and AEGEK (18.92 pct) were top losers.

    [31] Greek bond market closing report

    The yield spread between the 10-year Greek and German benchmark bonds rose to 9.12 pct in the domestic electronic secondary bond market on Thursday, with the Greek bond yielding 9.42 pct and the German Bund yielding 0.3 pct. Turnover was a thin 2.0 million euros, all sell orders.

    In interbank markets, interest rates were largely unchanged. The 12-month rate was 0.002 pct, the nine-month rate was -0.054 pct, the six-month rate was -0.102 pct, the three-month rate was -0.166 pct and the one-month rate was -0.234 pct.

    [32] ADEX closing report

    The January contract on the FTSE/ASE Large Cap index was trading at a premium of 0.38 pct in the Athens Derivatives Exchange on Thursday. Volume on the Big Cap index totaled 4,662 contracts with 15,636 open positions in the market. Volume in futures contracts on equities totaled 62,531 contracts with investment interest focusing on National Bank's contracts (23,485), followed by Alpha Bank (14,944), Piraeus Bank (16,539), Eurobank (17,359), MIG (1,574), OTE (858), PPC (1,024), OPAP (770), Hellenic Exchanges (171), Mytilineos (581), Hellenic Petroleum (174), Motor Oil (114), Metka (188), GEK (174) and Jumbo (103).

    General News

    [33] Singer Haris Alexiou talks to ANA-MPA Turk about refugees, roots and returns

    Talking about her long and deep relationship with Izmir, the city from which her ancestors had fled as refugees in the early 20th century, popular Greek singer Haris Alexiou on Thursday told ANA-MPA Turk in an interview that returning to Izmir was "not like coming back to somewhere" but more like going forward.

    "It is a continuity, a relationship that began more than 20 years ago, when from time to time I give concerts, alone or with Sezen Aksu," she said, noting that she had always felt "at home" in the Turkish city, even on her first visit.

    "I had this certainty that, yes, I have lived here, that my ancestors from my mother's side of the family were here," she said, describing her search for the old family home and church and the way Turkish officials had helped her find her roots.

    Alexiou, who has a street named after her in Izmir, will be appearing with the band Takim at the Izmir concert hall on Saturday, on the occasion of a visit by Ecumenical Patriarch Bartholomew. She said that she "had not thought twice" before accepting the invitation from the Greek community and the Patriarch to perform.

    When she first heard that they planned to name a street after her, she said, Alexiou had initially thought it was a joke but it turned out to be perfectly serious. She insisted, however, that this was not what strengthened her bond with the city.

    "It simply made me look at this relationship between Greece and Turkey in a different way. Because they realised that I am loved by people there and because I had given some concerts for earthquake victims and worked with Sezen Aksu, they did not forget and it was a gesture of honour and recognition, plus the fact that my origins are from there," she said.

    Turning to the issue of refugees, she noted that it had once seemed unreal but 2016 had shown that the same things still apply. "It is something that goes beyond us. In a world that has reached such development, we have landed on Mars, we are planning our life on another planet, at the same time we are living this situation. I don't know where this will lead us," she said.

    She also spoke about her own experiences, growing up in a neighbourhood of Asia Minor refugees in Thiva, and the resentment of the locals toward the newcomers. "We are now living it again, seeing others do this in a country where emigration was one its major scourges."

    Alexiou is also working to put on a play called "Chirographo" that will be staged at Athens' Neo Theatro Katerina Vasilakou from February 19, which is a sort of of autobiographical musical.

    "I wanted to put on a show where I tell stories at the same time as singing. I would like it to be a dream-like performance. To have stories among the songs and to narrate them. For the songs to be a continuation of the stories and the stories the continuation of the songs. Nothing, therefore, could be less contrived than to talk about myself, my own experiences, my own memories..." she says, when asked about the motivation for the play.

    Alexiou said the show "dives" into her past, her childhood but not as a biography, more as a series of instants, "the memories that you have and don't know why they are still there." She admitted to feeling nervous about appearing on stage without music, however, pointing out that she was no actor and did not consider herself to have acting talent.

    Lastly, she commented positively on the culture ministry's draft law on copyright issues, saying it was the first time there was a "serious" law on copyright that regulates the relationship between the copyright holders and users of music in a just way, providing protection from Internet piracy and the huge revenue losses this causes.

    "It is not just ordinary people listening to music; we are dealing with those that trade in music - radio, hotels, clubs - all those venues that depend on music or use music must finally understand that there is a reasonable fee for the copyright owners," she said.

    [34] Refugees and migrants continue to arrive on Lesvos despite the adverse weather conditions

    Refugees and migrants arrivals on Lesvos island continued on Thursday despite the gusty southerly winds and low temperatures prevailing in the area.

    2,000 migrants and refugees, among them a large number of women and children, arrived from Wednesday until Thursday morning on the island.

    The ferry "Eleftherios Venizelos" is docked at Mytilene port to host 1,500 migrants and refugees until the conclusion of the Seamen Federation strike on Saturday and the ferry sets sail for Piraeus port.

    [35] Large number of refugees wait at Greece-Fyrom crossing point

    A large number of refugees have gathered at Idomeni on Thursday waiting to cross to Fyrom.

    According to the police, there are around 2,500 refugees at the camp while 4,500 have already disembarked from the 90 buses that have stopped at a gas station at Polykastro. The congestion is the result of Fyrom authorities delay to accelerate the procedure as well as to the Seamen Federation strike that did not allow the transport of refugees from the Aegean islands to Pireaus.

    A total of 1,600 refugess have crossed the buffer zone over the last 24 hours.

    [36] Weather forecast

    Rain on Friday

    Rain and northerly winds are forecast for Friday. Wind velocity will reach 8 on the Beaufort scale. Rain in the northern parts of the country with temperatures ranging from 01C-10C. Partly cloudy in the western parts with temperatures between 04C-14C. Heavy rain in the eastern parts with temperatures between 06C-13C. Rain and thunderstorms over the Aegean islands and Crete, 08C-17C. Rain in Athens, 09C-11C. Clouds and rain in Thessaloniki, 03C-06C

    36, TSOCHA ST. ATHENS 115 21 GREECE * TEL: 210 64.00.560-63 * FAX: 210 64.00.581-2 INTERNET ADDRESS: http://www.ana.gr * e-mail: anabul@ana gr * GENERAL DIRECTOR: MICHALIS PSILOS


    Athens News Agency: Daily News Bulletin in English Directory - Previous Article - Next Article
    Back to Top
    Copyright © 1995-2023 HR-Net (Hellenic Resources Network). An HRI Project.
    All Rights Reserved.

    HTML by the HR-Net Group / Hellenic Resources Institute, Inc.
    ana2html v2.01 run on Friday, 5 February 2016 - 22:17:43 UTC