Browse through our Interesting Nodes for Financial Services in Greece 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
Saturday, 21 December 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, 16-06-23

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

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

Thursday, 23 June 2016 Issue No: 5191

CONTENTS

  • [01] 'We need a new social contract for Europe,' Tsipras tells PACE plenum
  • [02] PM Tsipras: The challenges Europe is facing can be dealt with a better Europe
  • [03] Fair growth is the focus of the government's economic policy, says minister
  • [04] We will respect our commitment for primary surpluses in order to achieve credibility, Alternate FinMin Chouliarakis says
  • [05] State minister Pappas: A very negative development if Britain voted to leave EU
  • [06] Greek debt unsustainable, needs generous relief, Velculescu says
  • [07] Declan Costello optimistic on success of Greek programme
  • [08] FM Tsakalotos meets with representatives of the institutions
  • [09] Private sector employees union GSEE rejects creditors' demands on labour laws
  • [10] We aim at boosting Greek-Egyptian relations, Egyptian Tourism Minister tells ANA-MPA
  • [11] Potami leader on imminent meeting with PM Tsipras
  • [12] Magistrate to refer case against HRADF experts to Appeals Council, shelve other two
  • [13] Ecumenical Patriarch says he respects the regime of the Metropolises of the New Lands
  • [14] Greece has made progress in modernizing its economy, ESM chief Regling says
  • [15] Greek banking system faces five challenges, Louka Katseli says
  • [16] ECB reinstates waiver for Greek bonds; decision to take effect on June 29
  • [17] Lamda Development ready to begin works in Hellinikon
  • [18] Competition Commission rubber-stamps COSCO-OLP sale deal
  • [19] Alternate Tourism Min Kountoura: 2016 will be a positive year for Greek tourism
  • [20] Fraport: We send a strong to the international markets that Greece is looking to the future
  • [21] Tax evasion in Greece estimated at 6-9 pct of GDP - research
  • [22] Intracom Telecoms signs agreement in Indonesia
  • [23] Forthnet reaches refinancing agreement with banks
  • [24] Greek stocks end flat
  • [25] Greek bond market closing report
  • [26] ADEX closing report
  • [27] ANA-MPA launches Greek tourism website www.praktoreio-tourism.gr
  • [28] Garry Kasparov gives handicap chess game in Thessaloniki
  • [29] Missing German tourist located at remote area of Tsepelovo
  • [30] 57,008 identified migrants and refugees in Greece on Wednesday
  • [31] Sunny on Thursday
  • [32] The Wednesday edition of Athens' dailies at a glance Politics

  • [01] 'We need a new social contract for Europe,' Tsipras tells PACE plenum

    The European Union needs to return to its founding principles, Prime Minister Alexis Tsipras said on Wednesday while addressing the Parliamentary Assembly of the Council of Europe (PACE) plenum in Strasbourg, following a series of meetings with Council of Europe and PACE officials.

    "We need more Europe, better Europe....We need a new social contract for Europe," Tsipras said, stressing that Europe was in a deep crisis and unable to convince its peoples to support it. Citing labour issues in Greece as an example, Tsipras noted that the country needed a reorganisation of laws in a labour market that was already flexible, not to demolish it entirely.

    The British referendum on whether to remain in the EU was an indication of this deep crisis, Tsipras added, noting that it had already done great damage, regardless of its outcome, in that it had set a negative precedent in Europe.

    According to the Greek prime minister, it was now proven that the neoliberal model for handling the crisis, centred on a formula of general austerity, had failed.

    "The 22 million unemployed in Europe are proof that the crisis is not behind us," he said, noting that long-term unemployment was now the main political problem in Europe.

    The prime minister also referred to the refugee and migration crisis, saying that Greece had found itself at its centre with roughly 60,000 people now trapped within its borders.

    "Greece is implementing European and international law, respecting the rights of asylum seekers," he emphasised, noting the need to uphold and respect the obligations arising from the European Convention on Human Rights.

    "It is my fundamental conviction that in order to deal with the refugee crisis we need a European response: a better attitude by all the countries and upholding the relocation process," Tsipras said. "Our common goal, from this point of view, is to respond effectively to the refugee-migration crisis while at the same time respecting our obligations under the ECHR," he added.

    The Greek prime minister also emphasised the need for solidarity as a "shared value, a shared principle," noting that this had allowed Greeks to manage such an unprecedented crisis.

    Referring to the Council of Europe, Tsipras said that Greece considered the CoE a unifying force based on shared values and principles with an irreplaceable role, pledging that Athens will continue to contribute to the best of its ability to achieving its goals.

    [02] PM Tsipras: The challenges Europe is facing can be dealt with a better Europe

    "The challenges that Europe is facing in the economy, the refugee issue and the security can be dealt, not with more or less Europe, but with a better Europe," Prime Minister Alexis Tsipras said in a statement posted on Twitter, after meeting with the secretary general of the Council of Europe in Strasbourg on Wednesday.

    Tsipras also met with President of the Parliamentary Assembly of the Council and Greek MPs participating in the Parliamentary Assembly of the Council of Europe, while in the afternoon he will speak in the plenary session of the Parlia-mentary Assembly of the Council of Europe.

    Tsipras noted that "the offer of Greece to the refugee crisis finds recognition."

    Tsipras will also meet with the president of the European Human Rights Court Guido Raimondi.

    A luncheon will also be hosted in honor of the Greek Prime Minister and the Prime Minister of Estonia by the President of the Parliamentary Assembly.

    [03] Fair growth is the focus of the government's economic policy, says minister

    Fair growth is at the heart of the government's economic policy which will be based on its human resources and the young, Economy Minister Giorgos Stathakis said in an interview with news website Left.gr published on Wednesday.

    He said the new law on growth along with the available EU funds - which were 100 pct absorbed in 2015 - and the "Juncker Plan", will set the Greek economy to a new trajectory focused on social justice.

    Concerning the law on growth, the minister said it is structured with the small and medium-sized business in mind and the sectors of the agri-food business, as well as technology and innovation.

    [04] We will respect our commitment for primary surpluses in order to achieve credibility, Alternate FinMin Chouliarakis says

    Our commitment is a commitment and we will respect our commitment for primary surpluses in order to achieve credibility, Alternate Finance Minister Giorgos Chouliarakis said in the Economist conference on Wednesday.

    He also expressed the government's intention for lower primary surpluses as of 2018.

    "Our preference is to have lower primary surpluses as of 2018. About 1.5-2.0 pct of GDP in the long term," he underlined.

    According to the Alternate minister, "the gratification is a negative risk" for the success of the programme and estimated that the second programme review will be completed in late October.

    Chouliarakis said that the new program incorporates a number of positive features, including:

    ? Managing the fiscal adjustment is now easier

    ? The fiscal and financial part of the program have been implemented. Stability has been restored and the fiscal targets will be achieved by the measures already taken

    ? The recessionary impact of the measures will be offset by the repayment of arrears

    ? The restoration of the waiver and integration into the quantitative easing program will have a positive impact

    The next steps, according to the deputy minister, must relate to broadening the tax base.

    [05] State minister Pappas: A very negative development if Britain voted to leave EU

    If Britain votes to leave the European Union it would be a very negative development, State Minister Nikos Pappas said on Wednesday, as he opened his speech at an Economist conference in Athens.

    He said even the fact that a country the size of Britain has called a referendum on such a question is a negative development, adding that the cost of the country's withdrawal from the EU would be huge and those who claim otherwise are "na?ve".

    Pappas also described as "na?ve" those who last summer "played with fire" by promoting a Greek exit from the Eurozone. "At any rate, it is interesting to watch the same people pleading with Britain not to leave [the EU] which does not even have the same currency," he said. The minister pointed out that this year, there are no longer any uncertainties concerning Greece's stay in the European project, which is not the case on the side of the continent.

    Greece is now entering a period where it is emerging as a solution for Europe and not as a problem, he said. "The agreement with our partners has been finalized, is being implemented and the Greek economy is doing better than what many expected," Pappas added, noting that "things could be even better" if disagreements between the institutions hadn't delayed the completion of the program review.

    "We won't speak of a success story when unrealistic agreements had been signed on surpluses. But we say that along with the self-evident political stability, the economy is also stabilizing," he said.

    [06] Greek debt unsustainable, needs generous relief, Velculescu says

    Greek debt is unsustainable and needs a generous relief, the IMF's mission chief in Greece Delia Velculescu said on Wednesday.

    Addressing an Economist conference in Athens, Velculescu said that the Greek programme was not sustainable as it included very ambitious targets on primary surplus, while reforms are limited in taxation and cutting pensions. On the contrary, she argued that structural reforms were necessary to allow the Greek economy to return to stabilization. Only a combination of all these, will eliminate once and for all any future plans on Grexit. argued that the Greek debt is clearly unsustainable and that debt relief is necessary, in her appearance at the Economist conference in Athens. She said that the IMF has committed t participate in the funding of the programme but this will happen only after Europe pledge on sustainability of Greek debt. Debt relief measures must be compatible with a sustainability survey drafted by the IMF (by the end of the year) when a discussion on the IMF participation in the programme was expected to begin.

    Declan Costello, the European Commission's representative in the institutions, sounded very optimistic over the success of the Greek programme. He said that a second review of the programme would be demanding and full of challenges. He did not specify the timetable of the review but said that prior actions should be voted by December 11 this year.

    Costello reassured there was no risk of a haircut in deposits and noted that a discussion on debt relief measures was moving towards reducing annual servicing costs. He said that the presence of IMF in the programme was of crucial importance to Europe.

    "A commitment is a commitment and will honor a commitment on primary surplus to gain credibility," George Chouliarakis, deputy Finance Minister told the Economist conference, but noted that the government preferred lower primary surpluses for the period after 2018.

    "Our preference is that after 2018 we should have much lower primary surpluses, around 1.5-2.0 pct of GDP in the long-term," Chouliarakis said. He said he expected a second review of the programme to have been completed by the end of October.

    Mr. Nicola Giammarioli, Head of Strategy & Institutional Relations at European Stability Mechanism, responding the Greek minister said: "You have taken an commitment to have primary surplus of 3.5 pct of GDP after 2018 as well. Of course, you can negotiate but for the time being this is your commitment".

    [07] Declan Costello optimistic on success of Greek programme

    European Commission representative in the institutions Declan Costello appeared very optimistic over the success of the Greek programme in his address at the Economist Conference on Wednesday in Athens.

    According to Costello, the second review of the Greek programme will be demanding and with a series of challenges. He did not specify the timetable of the specific review but he said that the prior actions must be voted by the Greek parliament until 11 December 2016.

    He reassured taht there is no longer the danger of a haircut to the Greek banks' deposits and said that the discussion for the relief of the Greek debt is moving towards the direction of the reduction of the annual servicing cost. Moreover, he said that the participation of the IMF in the Greek programme is exclusively its board's decision, however he noted that IMF's participation very of huge importance for Europe.

    [08] FM Tsakalotos meets with representatives of the institutions

    Finance Minister Euclid Tsakalotos on Wednesday had an informal meeting with the representatives of the institutions on the sidelines of "Economist conference" that is held in Athens.

    They discussed the course from the first to the second review of the Greek programme.

    [09] Private sector employees union GSEE rejects creditors' demands on labour laws

    The head of the country's private sector union, GSEE, said on Tuesday he is rejecting the demands made by Greece's creditors on changes in labour laws, following a meeting at the Labour ministry on the issue.

    Asked whether the union's reply to those demands is "No", Yiannis Panagopoulos said: "Obviously, and especially in the further dismantling of the collective worker protection framework. But I'll tell you that our major line of defense - I will not say 'red lines', because these terms have now been degraded - is what we agreed with the chair of the ILO in Geneva in 2014."

    He said GSEE tabled its proposals which are the same as the ones agreed with ILO. "GSEE is not asking for special treatment for Greece, but asks that Greece becomes a normal European country when it comes to labour law and collective labour agreements," Panagopoulos added.

    [10] We aim at boosting Greek-Egyptian relations, Egyptian Tourism Minister tells ANA-MPA

    The Greek nation and the Egyptian nation have had a close relationship for hundreds and hundreds of years, Egyptian Tourism Minister Hisham Zazou said in an interview with ANA-MPA.

    "Promoting the friendship is something natural for us because our peoples have many things in common; habits, traditions, even food," he underlined.

    The Egyptian Minister thanked Greece for its support to the recent Egyptian Airlines plane tragedy. "Two nations so well tied together that understand each other, they feel for each other and they care for each other. We want these nations to enrich their relation and enhance their cooperation for the best interest for both nations and the welfare of both," he noted.

    Zazou added that Greece understands very much, more than anybody else, the Egyptian history and the values, treasures and the antiquities of Egypt. "We want to give the Greek nation the privilege to enjoy and benefit from them," he stated.

    He also stressed that Egypt looks forward to improving the commercial and tourism relations between the two nations.

    Asked whether there are concrete steps between Greece and Egypt to promote tourism, he replied that special emphasis will be given to the sector of cruises.

    "We also want to show the importance of Greeks visiting and understanding the Egyptian history and heritage, as part of their learning experience. I think the more and more we do, the more and more our nations will be together. And more and more people will be willing to share the wealth and understanding; and there will always be for the best interest for both nations."

    The Egyptian Tourism Minister concluded that the best things we can hand down to our next generations is the legacy of a strong relationship and strong solidarity between the two countries, adding that these two nations have been and will always be together.

    [11] Potami leader on imminent meeting with PM Tsipras

    Potami leader Stavros Theodorakis stated on Wednesday ahead of his meeting on Friday with Prime Minister Alexis Tsipras to discuss the new electoral law and the revision of the constitution that "We can hear his proposals but not cooperate with such a bad government".

    Theodorakis said he is suspicious because he does not know what the government proposes and noted that SYRIZA and Independent Greeks government should have presented that framework of their proposal on the electoral law.

    Referring to European Commission Jean Claude Juncker's visit to Athens he stressed "he said we say more or less. That with this programme we will live and that the change of the programme is out of the reality" he said.

    [12] Magistrate to refer case against HRADF experts to Appeals Council, shelve other two

    Corruption magistrate Costas Sargiotis on Wednesday announced that a case against six foreign experts advising the Greek privatisation agency Hellenic Republic Asset Development Fund (HRADF) is to be referred to the Appeals Justices' Council, which will be asked to decide if there are grounds for an indictment. The six experts may face a charge of breach of faith for failing to give advice that protected the interests of the Greek state in the sale of 28 state-owned properties.

    The magistrate also completed his investigation into two other cases involving HRADF board members on possible charges of embezzlement, finding no grounds to prosecute. The case involved the failure to credit a special account belonging to the state with interest that had accrued from the sales of the state betting agency OPAP and the sale of the 28 real estate assets, amounting to 480,000 and 100,000 euros, respectively.

    Sargiotis found that the money had actually be left in HRADF's accounts to cover its needs in terms of servicing public debt.

    A fourth case against HRADF former board members on similar charges for the sale of the Golden Hall building is still pending before another magistrate for corruption cases.

    [13] Ecumenical Patriarch says he respects the regime of the Metropolises of the New Lands

    Ecumenical Patriarch Bartholomew (Vartholomeos) reassured that he totally respects the existing church regime of the Metropolises of the so-called New Lands in Greece and has no intention of challenging or change the existing status, addressing on Wednesday the Holy and Great Synod the Orthodox Church held on Crete.

    Financial News

    [14] Greece has made progress in modernizing its economy, ESM chief Regling says

    The disbursement of the 7.5 billion euro loan tranche to Greece is an important moment both for the country and for Europe, the general manager of ESM Klaus Regling said at the Economist Conference in Athens.

    "It is a recognition of the progress made by Greece to modernize its economy. It also shows that Europe will not leave Greece alone. Greece is a member of the European family," Regling said adding that Europe will continue to show, if necessary, economic solidarity towards Greece. The remaining 2.8 billion euros, he said, will be given when Greece meets further prior actions and repays some of its overdue obligations.

    The head of the ESM noted that the eurozone wants to continue to support Greece's efforts with further measures to reduce its debt.

    [15] Greek banking system faces five challenges, Louka Katseli says

    The Greek banking system faces five basic challenges, Louka Katseli, chairman of National Bank's board and president of Hellenic Bank Association said on Wednesday.

    Addressing an Economist conference, Katseli said the first challenge was restoring confidence in the financial sector, something that will allow the lifting of capital controls and a gradual return of deposits.

    The second challenge, Katseli said, was channeling funds to productive business and investment initiatives. The key to that was an efficient management of non-performing loans, mostly business, which will free capital currently held to absorb any damages and their distribution to the fund the real economy and restarting viable business units.

    A third challenge was adapting banks to the new requirement imposed by the Single Supervisory Mechanism and the remaining regulatory and supervisory obligations, while the fourth challenge was maintaining competitiveness and regaining profitability in a new digital banking environment. Katseli said banks need to find new sources of revenue by investing in new technologies, IT and innovation, planning and distribution of advanced products and services.

    The fifth challenge was upgrading corporate governance and risk management systems.

    Katseli said that the domestic banking system, after six years of economic recession, was in a transition after a successful completion of a recapitalization plan at the end of 2015. Greek systemic banks enjoy now a strong capital base with their capital adequacy surpassing 18 pct, from 14 pct in 2014 and 12.2 pct in the first half of 2015, surpassing a 16.7 pct EU average.

    The Greek banking system has to play a decisive role in restarting economic activity and supporting growth in the country, Katseli said.

    [16] ECB reinstates waiver for Greek bonds; decision to take effect on June 29

    The governing council of the European Central Bank (ECB) announced on Wednesday it is reinstating a waiver affecting the eligibility of Greek bonds used as collateral in the bank's funding operations, in a move that was widely anticipated.

    ECB said the decision was taken as the council "acknowledges the commitment of the Greek government to implementing current ESM program and expects continued compliance with its conditionality."

    The waiver will take effect on the next MRO settlement date on June 29, the central bank said, adding that inclusion of the country's bonds in its quantitative easing (QE) program will be examined at a later date.

    [17] Lamda Development ready to begin works in Hellinikon

    "We are ready to begin the biggest project of joint reconstruction in Europe and one of the biggest worldwide. Bulldozers will be ready to begin works in the former airport of Hellinikon from the beginning of next year, in less than seven months, right after the Parliament gives the green light and the State Council approves the master plan of the project," Odysseas Athanasiou, chief executive of Lamda Development told AMNA on Wednesday.

    "In the meantime, the consortium is willing to offer any information and help, in asked, in order to get the project started the soonest possible," Athanasiou said, adding that international and Greek companies have drafted surveys covering every aspect of the project: environmental, economic, social, etc, at a cost of more than 10 million euros. He noted that the project will begin with a liquidation of the whole area of 6,200 stremmata (one stremma=1,000 sq.m.) and that in the next six or nine months the area will be ready for reconstruction works, with the first in line creating the largest seaside park in Europe, covering 2,000 stremmata, one of the largest in the world. He stressed that the beginning of works would signal the support of sectors heavily hit by the crisis, such as construction, cement, steel, aluminium, suppliers and transportation.

    Athanasiou said that at the same time, works will begin to fully upgrade the seaside area, the marina and construction of five hotels -one seven-star hotel (the only one in Greece) resembling a boat with a capacity of 250 beds, while the other four hotels will have a capacity of at least 2,200 beds. The hotels will operate around the year, creating at least 5,500 new job positions. Lamda Development will also build a landmark building for Greece and Europe, with around 200 apartments. The project also envisaged construction of an aquarium -the biggest one in Europe.

    These projects are expected to be delivered in five years, he said. Athanasiou said construction of a shopping mall will create around 4,500 new job positions, another 2,000 for the construction and operation of an international medical center and another 2,500 for the construction of an international university center.

    He said that the project will a very low average building rate, less than 0.5 with a less than 30 pct coverage. The contribution of the project will be decisive for the future of Athens and the country as it is expected to attract more than one million tourists.

    Athanasiou said the biggest part of the project is expected to be completed in 12 years with the construction of 8,000 homes. He noted that the Greek state will have more than 13.5 billion euros in revenue during the 25-year investment activity of the project.

    [18] Competition Commission rubber-stamps COSCO-OLP sale deal

    [Updates to show the commission approved the deal]

    The Competition Commission approved the sale of a majority stake in Piraeus Port (OLP) to China's COSCO during its meeting on Wednesday, saying it is in line with Greek competition laws.

    "Having taken into account the conditions and prospects of the relevant market, the improvements in its efficiency and the commitments given, concluded that the concentration does not raise serious doubts as to the compatibility of the deal with the performance requirements of competition in the individual markets it concerns," the Commission said in its decision.

    In March, the Court of Audit also approved the deal for the sale of 67 pct of OLP to the Chinese shipping giant and rejected a request for cancellation of the deal, filed by the union of port employees (OMYLE) and the union of OLP's dock workers.

    The next step is for the concession agreement to be submitted to parliament for approval, which is expected to take place on Friday. After the parliament gives the green light, the privatization agency (HRADF) will ask COSCO to pay initially for 51 pct of OLP and the management of the port.

    [19] Alternate Tourism Min Kountoura: 2016 will be a positive year for Greek tourism

    The year 2016 will be a positive one for Greek tourism, Alternate Tourism Minister Elena Kountoura said in an interview with Athens-Macedonian News Agency ahead of the launch of the agency's tourism website.

    Kountoura underlined that 2016 kicked off well as arrivals and revenues rose in the first quarter. "Since the first quarter went well, the second one will be even better," she noted adding that for the first time both the private and public sector support the Greek tourist product.

    "Tourism is a national issue," the minister stressed. "It is our aim to support Greek tourism all together and it is very important not to hurt it," she added.

    Referring to the factors that will influence the performance of tourism this year, she cited the geopolitical turmoil, but estimated that problems have started to ease and last minute reservations are on the rise.

    The ministry's main aim is the extension of the tourist season, she said adding that the efforts have already delivered results. "Last year we managed to have excellent results due to hard work despite the difficult conditions. Tourist arrivals rose to 26 million in 2015 compared to 22 million euros in 2014. This was a very pleasant development," Kountoura said.

    The minister also expressed her content over Prime Minister Alexis Tsipras' announcement to double advertising spending in the tourism sector. As she said, "the prime minister shows in practice the importance the government places on tourism."

    Greece's image is significant and there has been no progress in that sector over the last years as a result of the difficult economic conditions. However, after the conclusion of the Greek program review, the image of the country has improved and this will also be reflected on tourism, Kountoura noted.

    "It is very important to do our best to promote Greece abroad. This will also include a national strategy to strengthen the country's image. The image of Greece that opens its wings and gives hope," Kountoura underlined.

    As regards the actions expected on this front, she pledged that the government will do its best adding that Greek tourism is present in the largest foreign markets promoting Greece as a popular tourist destination.

    Addressing the tourism sector, Kountoura said that the political leadership of the ministry is working in order to provide solutions to the problems faced by those operating in tourism.

    "We have already solved problems related to ski resorts, spa, and camping accommodation," she stated. At the same time, the minister said, emphasis is given on supporting small and medium enterprises, and attracting investments.

    On the Athens-Macedonian News Agency's initiative to launch a tourism website, Kountoura said that Greek tourism will have another voice to express reality.

    [20] Fraport: We send a strong to the international markets that Greece is looking to the future

    "Fraport's investment in Greece is a strong vote of confidence of all parties involved, namely, the Greek state, the Hellenic Asset Development Fund (TAIPED) and Fraport Greece," its chairman Stefan Schulte said in an interview with ANA-MPA.

    Schulte has been invited to Greece by the Greek-German Chamber of Commerce and Industry.

    The chairman of Fraport also said that he believed "in the potential and successful development of Greece, especially in the tourism industry. The economic measures are certainly correct, however difficult they may be. But it is also very important to have investments. Only investments can create new jobs and economic recovery. I hope, of course, that the infrastructure will send a strong signal to international markets that Greece is looking to the future creating a new, dynamic investment environment for the country and its people."

    Schulte stated that there will be no layoffs, instead there will be new hirings: "Our goal for the Greek regional airports is growth. Therefore, we will need more staff, we want to recruit as many employees as possible at Fraport Greece," he said.

    On the benefits for Greece, the chairman of Fraport said: "The Greek tourism industry will benefit from the promotion of cities and regions with airports as travel destinations, through the global network of Fraport. The aim is to increase passenger traffic and to extend the tourist season."

    The full interview is available in Greek at ANA-MPA's website.

    [21] Tax evasion in Greece estimated at 6-9 pct of GDP - research

    Tax evasion in Greece is estimated to range between 6 to 9 pct of the country's GDP, which is equal to up to 32 pct of public revenues, according to a research conducted by the independent research organization diaNEOsis, which will be published in full on Wednesday evening.

    According to the research, the state losses up to 16 billion euros each year from tax evasion, when it has to spend 28 billion for pensions, 15 billion for wages and 12 billion to serve its massive debt. "Since 1975, [Greece] has voted 250 taxation bills and issued 115,000 ministerial decisions," diaNEOsis says in its introduction to the report which it notes is attempting to map the problem.

    The report also notes that public revenues from taxes have been dropping since 2010. In a breakdown of the tax payer profiles, diaNEOsis found that:

    - 64 pct of the self-employed declared an income below the tax-free threshold (data from 2011).

    - 49 pct of the salaried employees declared an income below 12,000 euros (2011).

    - The 900 largest businesses in Greece (0.4 pct of the total number of businesses) paid 61 pct of the taxes collected by legal entities (2011).

    - 8 pct of tax payers, who declared an annual income above 42,000 euros, paid 69 pct of the taxes paid by individuals (2011)

    DiaNEOsis also says that during the economic crisis in Greece, wages were cut while the tax burden shifted towards the medium incomes.

    [22] Intracom Telecoms signs agreement in Indonesia

    Intracom Telecom on Wednesday announced a partnership agreement with Lintasarta, one of the largest telecoms and IT companies in Indonesia.

    In an announcement, Intracom said the agreement envisages the supply of a PtMP WiBAS-OSDR wireless system and of the uniIMS advanced network management platform.

    [23] Forthnet reaches refinancing agreement with banks

    Forthnet SA on Wednesday announced it has reached a refinancing agreement with its creditor banks to issue fully secured bond loan worth 78,461,538 euros, an eight-year loan carrying a floating rate issued under the guarantee of Forthnet Media SA FM. The loan will be issued in cooperation with National Bank, Piraeus Bank, Alpha Bank and Attica Bank.

    The company will also issue a 176,538,462 euro bond loan, fully secured, with National Bank, Piraeus Bank and Alpha Bank. The eight-year loan will carry a floating rate and will be issued under the guarantee of the company.

    Forthnet SA and Forthnet FM will have to repay existing loans worth 70 million euros.

    A Forthnet board council approved the issuance of a convertible bond loan worth 99,087,466 euros at a nominal value and issue price of 0.30 euros for bond. The new bonds will be listed for trading in the main market of the Athens Stock Exchange.

    [24] Greek stocks end flat

    Greek stocks ended flat in the Athens Stock Exchange on Wednesday as the market digested huge gains recorded in the previous two sessions (9.31 pct for the composite index and 26.93 pct for the bank index), with investors focusing on Thursday's referendum. The composite index rose 0.55 pct to end at 611.63 points. The Large Cap index rose 1.35 pct and the Mid Cap index ended 0.03 pct lower. Turnover was a low 66.557 million euros in volume of 76,618,802.

    Piraeus Bank (4.55 pct), Jumbo (4.06 pct) and OTE (2.62 pct) scored the biggest percentage gains of the day among blue chip stocks, while Piraeus Port (2.87 pct), Ellaktor (2.76 pct) and Hellenic Petroleum (1.81 pct) suffered heavy losses. Among market sectors, Personal Products (3.39 pct), Telecoms (2.62 pct) and Travel (2.16 pct) scored big gains, while Raw Materials (0.99 pct) and Oil (0.92 pct) suffered losses.

    National Bank and Piraeus Bank were the most heavily traded securities of the day. Broadly, decliners led advancers by 56 to 44 with another 16 remaining unchanged. Medicon (19.04 pct), Douros (18.83 pct), ANEK (15.38 pct) were top gainers, while Kriton Artos (20 pct), Dionic (20 pct) and Boutaris (19.61 pct) were top losers.

    [25] Greek bond market closing report

    The yield spread between the 10-year Greek and German benchmark bonds fell to 7.78 pct in the domestic electronic secondary bond market on Wednesday, from 7.90 pct the previous day, with the Greek bond yielding 7.84 pct and the German Bund yielding -0.06 pct. Turnover was a thin 6.0 million euros.

    In interbank markets, interest rates were mixed. The 12-month rate was -0.027 pct, the nine-month rate rose to -0.094 pct from -0.095 pct, the six-month rate was -0.160 pct, the three-month rate rose to -0.261 pct from -0.262 pct and the one-month rate was -0.364 pct.

    [26] ADEX closing report

    The July contract on the FTSE/ASE Large Cap index was trading at a discount of 1.21 pct in the Athens Derivatives Exchange on Wednesday. Volume in the Big Cap index totaled 714 contracts with 6,720 open positions in the market. Volume in futures contracts on equities focused on National Bank's contracts (11,648), followed by Alpha Bank (6,020), Piraeus Bank (10,418), Eurobank (5,027), MIG (1,987), OTE (203), PPC (545), OPAP (178), Hellenic Petroleum (548), Mytilineos (84) and Ellaktor (63).

    General News

    [27] ANA-MPA launches Greek tourism website www.praktoreio-tourism.gr

    The ANA-MPA on Wednesday officially launched a new website devoted to Greek tourism - www.praktoreio-tourism.gr - with a special ceremony held at the Greek National Tourism Organisation's (GNTO) amphitheatre. Attending the event, Alternate Tourism Minister Elena Kountoura stressed the importance of fast and reliable information on tourism-related activities.

    "Such efforts give us the capability to promote Greece," Kountoura said, while predicting that 2016 will be a very good year for Greek tourism and that the foreign markets were rising.

    ANA-MPA President and General Director Mihalis Psilos, taking the stand, noted that the new website was the agency's "12th child" in the last year.

    The initiative was also welcomed by all tourism associations and agencies, who pledged to support the ANA-MPA's effort.

    The new website, with versions in Greek and English, aims to cover and promote all tourism-related activities and events in the country, aiming to highlight all different forms of tourism and business initiatives that promote Greece.

    [28] Garry Kasparov gives handicap chess game in Thessaloniki

    Garry Kasparov, the former chess world champion, gave a unique handicap chess game against four chess players on Tuesday evening at Thessaloniki City Hall.

    A large number of people gathered at the City Hall and patiently waited for Kasparov whose flight arrived with delay and the organisers considered wise the grand maitre to take a rest due to the very high temperatures in Thessaloniki. Kasparov appeared 2.5 hours later and played against the juniors world champion Stavroula Tsolakidou, the juniors European champion Anastassia Avramidou and Katerina Pasoglou and Evangelia Mastrakouli, both champions in Thessaloniki.

    The audience watched the four girls' efforts to find ways to confront to the Russian legend of chess.

    The event was organised by the Chess Union of Thessaloniki and Thessaloniki municipality.

    [29] Missing German tourist located at remote area of Tsepelovo

    A German tourist that was missing from Monday was located a few while ago in a remote area of Tsepelovo, Zagorohoria.

    The rescue team has eye contact with the 36-year-old German.

    Earlier a sheperd found the German at a long distance from Vradeto village and called the police.

    The 36-year-old tourist went trekking on the mountainous area of Vradeto, Zagorohoria, on Monday morning.

    The tourist stayed at Papigo village with a friend who worried when the tourist did not return and and went to police.

    [30] 57,008 identified migrants and refugees in Greece on Wednesday

    57,008 identified refugees and migrants were on the Greek territory on Wednesday while only one person arrived in the last 24 hours.

    According to the Refugee Crisis Management Coordination Body's figures, 23,820 of the refugees are in northern Greece, 9,994 are hosted in the region of Attica, 8,518 on the Greek islands and 2,372 are hosted in different areas in central and southern Greece. 5,896 refugees and migrants are hosted in several facilities rented by the UNHCR, 4,908 are staying in non-organised facilities while approximately 1,500 persons are living outside organised facilities.

    Weather forecast

    [31] Sunny on Thursday

    Fair weather and northerly winds are forecast for Thursday. Wind velocity will reach 6 on the Beaufort scale. Scattered clouds in the northern and the western parts of the country with temperatures ranging from 20C to 37C. Mostly fair in the eastern parts with temperatures between 21C and 36C. Sunny over the Aegean islands and Crete, 24C-36C. Fair in Athens, 26C-36C; the same for Thessaloniki, 22C-36C.

    [32] The Wednesday edition of Athens' dailies at a glance

    AVGHI: Collective contracts for fair growth.

    EFIMERIDA TON SYNTAKTON: Construction cartel case may block NSRF for co-financing works in Greece

    ELEFTHEROS TYPOS: Cuts in salaries and pensions

    ESTIA: Does Grexit belong to the past?

    ETHNOS: Return of subsidies in installments

    IMERISSIA: Message of agony

    KATHIMERINI: Borrowers unwilling to settle their debts

    NAFTEMPORIKI: European Commission sounds the bell to construction companies

    RIZOSPASTIS: Mirror of a system that brings poverty and war

    TA NEA: Slaps and caresses

    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 Thursday, 23 June 2016 - 18:45:46 UTC