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Athens News Agency: Daily News Bulletin in English, 16-06-28Athens News Agency: Daily News Bulletin in English Directory - Previous Article - Next ArticleFrom: The Athens News Agency at <http://www.ana.gr/>Tuesday, 28 June 2016 Issue No: 5194CONTENTS
[01] PM Tsipras holds meeting with ministers ahead of EU SummitThe crucial imminent EU Summit in Brussels after the recent developments and the result of the British referendum as well as the condition in Europe dominated a meeting between Prime Minister Alexis Tsipras with his close associates and the government's ministers.During the meeting was also discussed the bill on the change of the electoral law that is expected to be tabled in parliament in the next days in order to be voted until mid-July. Tsipras is expected to hold a series of meetings in Brussels with the president of the European parliament Martin Schulz, representatives of the European Socialists, the head of the European Left Gabi Zimmer and representatives of the European Greens. Moreover, Tsipras has been invited as observer to the preparatory meeting of the European Socialists ahead of the EU Summit. According to sources, a process is underway in order the meeting of the European Socialist leaders to be held in Paris on Friday. If the meeting takes place, then Tsipras will attend the meeting accepting French President Francois Hollande's invitation and afterwards he will leave for China for his scheduled official visit. [02] PM Tsipras' schedule in Brussels on the sidelines of the EU summitPrime Minister Alexis Tsipras will hold a series of meetings with top EU officials and MEPs, including the President of the European Parliament Martin Schulz, and the President of the GUE/NGL group Gabriele Zimmer, on the sidelines of the EU summit which starts in Brussels on Tuesday.The full schedule is as follows (all hours are local). On Tuesday: -08:00 > Meeting with the President of the European Parliament Martin Schulz -08:45 > Meeting with the President of the GUE/NGL group Gabriele Zimmer -09:15 > Meeting with the Greens/EFA co-Presidents, Philippe Lamberts and Rebecca Harms, and the party's Vice-President Ska Keller -13:15 > Will participate in preparatory meeting of the European Socialist Party as an observer -15:00-15:45 > Arrival at the European Council meeting -16:00-16:30 > Exchange of views country and government leaders with the President of the European Parliament Martin Schulz -16:45- 22:00 > Meeting of the European Council On Wednesday: -09:15-09:45 > Arrival at the European Council -10:00-12:30 > Second meeting of the European Council; informal meeting of 27 member-states [03] Israeli PM calls PM Tsipras to discuss Isreali-Turkish rapprochementIsraeli Prime Minister Benjamin Netanyahu called Prime Minister Alexis Tsipras earlier on Monday to inform him about the agreement with Turkey to mend their bilateral relations, the prime minister's office said in a statement.The two premiers also discussed the course of Greek-Israeli relations. [04] Government proposal for election law reforms in final stages, Gerovasili saidThe government's proposal for abolishing the first-party bonus seats, simple proportional representation and the vote at 17 is now in the final stages of being drawn up, government spokeswoman Olga Gerovasili said on Monday. She said that the government's proposal will take into account the talks held between Prime Minister Alexis Tsipras and the opposition party leaders, incorporating some of their positions and suggestions."The government's proposal will be tabled in Parliament at the end of this week and be voted on in the first 10 days of July, possibly after the prime minister's return from China," she said. "The discussion process in Parliament may help so that there are even greater convergences than those we have already ascertained," Gerovasili added, noting that the "historic necessity to establish equality of the vote with the resonance of the proposal to the people must be the criterion of the parties." [05] EU must respect the decision of British citizens, but not alienate them, says FMBritain's decision to leave the European Union presents an unprecedented crisis for the block, Foreign Minister Nikos Kotzias said on Monday, adding that the decision must be respected."We must respect the democratic decision of the British people and at the same time not alienate the entire country and its citizens from the EU," the minister said during a meeting of foreign ministers in Warsaw about the results of the UK referendum. "The Brexit is an unprecedented crisis for the EU and we should be very serious, sober and calm in dealing with it." [06] We are at the beginning of a difficult battle to change Europe, SYRIZA spokeswoman says"The Spanish Left is here to stay. A 21 percentage was unthinkable three years ago. We are only at the beginning of a difficult battle to change Europe", SYRIZA spokeswoman Rania Svigkou commented on the elections in Spain.[07] ND leader chairs meeting on results of British referendum, Spanish electionsMain opposition New Democracy leader Kyriakos Mitsotakis on Monday chaired a meeting of the ND team for coordinating the party's parliamentary work. This focused mainly on the results of the British EU referendum and the Spanish elections, ahead of Mitsotakis' trip to Brussels to attend the European People's Party (EPP), and the proposals for changing election law and revising the constitution.The meeting concluded that the handling of the Brexit issue required "care, level-headedness, decisiveness and insightfulness," ND spokesman George Koumoutsakos said. Europe must also exercise self-criticism so as not to allow the forces of populism and fragmentation to grow stronger, he added. Regarding the result of the Spanish elections, ND interpreted this as a message that the forces of populism in Europe were being restrained, he said. He said that ND opposed a switch to simple proportional representation, considering the issue an attempt to divert public opinion away from the state of the real economy and an attempt by the government to shore up its crumbling support among voters. The main opposition highlighted the need for an election law that combined proportional representation with strong and cohesive governments. ND was prepared to discuss a vote for Greeks abroad and the division of electoral constituencies, Koumoutsakos said. [08] The Spanish people gave their own answer to populism, ND leader Mitsotakis says"The Spanish people gave their own answer to populism. In difficult times, people are looking for seriousness and responsibility. Good morning!" main opposition New Democracy (ND) leader Kyriakos Mitsotakis posted on Twitter regarding the elections in Spain.[09] Sustainable development should aim at reducing unemployment, says State ministerThe government's efforts to build cooperation inside and outside Europe in sectors such as energy, innovation and sustainable development are aiming at reducing unemployment, the Minister of State for Coordinating Government Operations, Alekos Flambouraris, said in a speech at the one-day conference of the Technical Chamber of Athens on Monday.He said an initiative of the Chambers of Greece, Cyprus and Israel to cooperate is "valuable", noting that the aim is to promote cooperation not just for civil engineers, but for all citizens. "In this effort, with the cooperation in energy, research, manufacturing and the primary sector, we must achieve a difficult but great victory," he added. [10] Potami will not support change in electoral law, says party leader TheodorakisThe leader of Potami, Stavros Theodorakis, said on Monday his party will not support the government's proposal for a change in the electoral system, arguing it will lead to political instability."Some SYRIZA-ANEL members accuse us of being stable in our positions. In reality they're accusing us of having principles, which is unknown to them," he told the party's parliamentary group, adding that this is not the first time the issue of switching to proportional representation has been raised by a party. "Their slogan is 'first time Left-first time proportional representation'. Somebody must inform them that the same was done by [former PASOK minister Akis] Tsohatzopoulos in 1989," he said. "I'll make a prediction. If we switch to proportional representation, as we did with the Tsohatzopoulos law in 1989, after a while we'll end up with a super-enhanced [representation], because of the political instability that will follow." He also proposed the creation of a new political reformist body, with an open leader election, who will emerge through elections throughout Greece, and in which at least 200,000 people will have to participate. [11] Deputy FM Mardas to visit Israel, Russia, ChinaDeputy Foreign Minister for International Economic Relations, Dimitris Mardas, will visit Israel from 28 to 30 June, where he will hold meetings with Israeli government officials and representatives of Israeli agencies in the construction sector.The main subject of his meetings will be strengthening Greek-Israeli cooperation in the infrastructure and construction sector. Mardas will then visit Russia, where he will represent Greece at the 34th BSEC Ministerial Meeting, in Sochi, on July 1. This BSEC Ministerial marks the end of the Russian chairmanship-in-office and will focus on initiatives for reforming the Organization. Mardas will then accompany Prime Minister Alexis Tsipras on his visit to China, on July 2-6. [12] Foreign Ministry on attack against building of French Institute in Thessaloniki"We express our anger at and abhorrence of today's incident of vandalism of the building of the French Institute in Thessaloniki. It is an irresponsible and incomprehensible action that can in no case damage the deep-rooted friendship between Greece and France or the long tradition of cooperation between the two countries in culture and letters", said a Foreign Ministry announcement on Monday adding that "the competent Greek authorities will not tolerate institutions' of friendship and culture becoming victims of barbarity, and they are already taking all necessary actions to identify the culprits and fully elucidate the case".Early Monday a group of unknown individuals threw stones at the entrance of the French Institute building in Thessaloniki. Financial News [13] BoG: Total credit to domestic private sector down 2 pct in MayIn May 2016, the annual growth rate of total credit extended to the domestic private sector stood at -2.0%, from -1.9% in the previous month. The monthly net flow of total credit to the domestic private sector was negative at ? 357 million, compared with a negative net flow of ? 156 million in the previous month.Credit to corporations In May 2016, the monthly net flow of credit to corporations was negative at ? 68 million, compared with a positive net flow of ? 85 million in the previous month, while the annual growth rate of credit stood at -1.2%, against -1.1% in the previous month. In particular, the annual growth rate of credit to non-financial corporations stood at -0.7%, from -0.6% in April 2016 and the monthly net flow of credit to non-financial corporations was negative at ? 70 million, against a positive net flow of ? 142 million in the previous month. The annual growth rate of credit to insurance corporations and other financial intermediaries stood at -8.7% in May 2016, from -7.7% in the previous month, while the monthly net flow of credit was positive at ? 2 million, compared with a negative net flow of ? 57 million in the previous month. Credit to sole proprietors and unincorporated partnerships In May 2016, the monthly net flow of credit to sole proprietors and unincorporated partnerships was negative at ? 14 million, compared with a negative net flow of ? 46 million in the previous month and its annual growth rate stood at -1.5%, from -1.3% in the previous month. Credit to individuals and private non-profit institutions In May 2016, the monthly net flow of credit to individuals and private non-profit institutions was negative at ? 275 million, compared with a negative net flow of ? 195 million in the previous month, while its annual growth rate remained at -2.9%, unchanged from the previous month. [14] Brexit could create new conditions for Greek tourism, SETE warnsThe British EU referendum result could have both short- and long-term repercussions for Greek tourism, creating new conditions, the Greek Tourism Confederation (SETE) said in an announcement on Monday. The euro-pound exchange rate will play a crucial role, as will any negative developments for the UK's GDP. A significant downward slide for either will lead to reduced arrivals and average per capita spending among Britons, reducing overall income from the UK market and making it more competitive for visits by Europeans.SETE predicting that the shapr downward slide in the pound will also have a short-term impact on Britons' travel and consumer spending, especially in the so-called "sun-and-sea" holidays that tend to be booked at the last minute, in July and August, while it may well impact city breaks, cultural tourism, conference tourism, company meetings and travel incentives. In the more long term, SETE said new changes may arise as the negotiations for the UK's departure are underway, such as the existing conditions for air travel that will affect the basic price of holiday packages, one of the key factors in choosing a holiday destination. [15] 2,282 mln euro primary surplus in May 2016, FinMin saysAccording to the data available for the execution of the State Budget on a modified cash basis, the State Budget balance for the period of January - May of 2016 presented a deficit of 814 million Euros, against the target of 2016 Budget of deficit of 3,880 million Euros and the deficit of 1,399 million Euros for the same period of 2015. The State Budget Primary Balance amounted to a surplus of 2,282 million Euros, against the primary deficit target of 820 million Euros and the primary surplus of 1,506 million Euros performed at the same period of the previous year.State Budget net revenues amounted to 19,208 million Euros, showing an overperformance of 328 million Euros or 1.7% against the target. Ordinary Budget net revenues amounted to 17,263 million Euros, 773 million Euros or 4.7%, higher than the target. Particularly, during the period of January-May 2016 there was an increase against the target in the following main revenue categories: a) Personal Income Tax (PIT) by 31 million Euros or 1.2%, b) Direct Tax Arrears by 124 million Euros or 15.6%, c) Other Direct Taxes by 77 million Euros or 9.8%, d) VAT tobacco by 40 million Euros or 16.3% e) VAT other by 112 million Euros or 2.3%, f) Tax on Vehicles by 35 million Euros or 77.7% g) Other Excise Taxes (Tobacco, etc) by 129 million Euros or 12.2%, h) Indirect Tax Arrears by 188 million Euros or 76.2%, i) Drawings From E.U. by 146 million Euros or 179.5%, j) Other Non-Tax Revenue by 423 million Euros or 27.9%. During the same period there was an underperformance against the target in the following main revenue categories: a) Income Tax Other by 42 million Euros or 8.4%, b) Property Taxes by 61 million Euros or 5.9%, c) VAT Fuel by 129 million Euros or 18.1%, d) Excise Tax on Fuel by 46 million Euros or 2.8%, e) Other Consumption Taxes by 77 million Euros or 38.3%, f) Other Indirect Taxes by 47 million Euros or 25.3%, g) Liquidity support plan proceeds by 54 million Euros or 54.5%. Tax refunds amounted to 1.206 million Euros, increased against the Budget 2016 target (1.078 million Euros) by 128 million Euros. PIB revenues amounted to 1,945 million Euros, decreased against the target by 445 million Euros. Particularly, in May 2016 the State Budget net revenues amounted to 3,194 million Euros, 476 million Euros higher than the monthly target. Ordinary Budget net revenues amounted to 3,159 million Euros 451 million Euros higher than the monthly target. The increase in revenues in May 2016 is mainly due to: a) Personal Income Tax (PIT) by 158 million Euros, b) Property Taxes by 40 million Euros, c) Other Direct Taxes by 37 million Euros, d) VAT tobacco by 50 million Euros, e) VAT other by 129 million Euros, f) Other Excise Taxes (Tobacco, etc) by 174 million Euros, The decrease in revenues in May 2016 is mainly due to the following categories: a) Direct Tax Arrears by 38 million Euros, b) Liquidity support plan proceeds by 41 million Euros, Tax refunds for the period of May 2016 amounted to 228 million Euros, increased against the monthly target (162 million Euros) by 66 million Euros. State Budget expenditures for the period of January - May of 2016 amounted to 20,022 million Euros, 2,738 million Euros lower than the target (22,760 million Euros). Specifically, ordinary Budget expenditures amounted to 18,908 million Euros and were decreased by 2,367 million Euros against the target, mainly due to the reduction of primary expenditure by 2,056 million Euros. Ordinary Budget expenditures were decreased compared to the respective period of 2015 by 145 million Euros. Expenditures increased by 97 million Euros for allowance for tackling humanitarian crisis, 138 million Euros for agricultural subsidies and 10 million Euros for military procurement for the Ministry of National Defence. PIB expenditure amounted to 1,114 million Euros, lower by 371 million Euros than the target. For May in particular, State Budget expenditures amounted to 3,854 million Euros, 460 million Euros lower than the monthly target, while Ordinary Budget expenditures amounted to 3,659 million Euros, showing an underperformance of 290 million Euros against the monthly target. Public Investment Budget (PIB) expenditure amounted to 195 million Euros showing an underperformance of 170 million Euros against the monthly target. [16] Technical Chamber of Greece holds conference on Greece, Cyprus and Israel cooperationThe Technical Chamber of Greece will hold on Monday a conference to promote the cooperation of Greece, Cyprus and Israel's chambers.The event, with the participation of noted personalities from the three countries, will focus on the sectors of energy, environment, construction, tourism and cultural heritage. The "trilateral cooperation" of the Technical Chamber of Greece (TEE), the Scientific and Technical Chamber of Cyprus and the Association of Engineers, Architects and Graduates in Technological Sciences in Israel follows the tripartite cooperation of the governments of the three countries. [17] Motor Oil participates in gas exploration in TanzaniaMotor Oil announced on Monday that MV Upstream Tanzania Limited has reached an agreement in principle with Otto Energy (Tanzania) Pty Limited for the acquisition of a 25% participating interest in the Kilosa-Kilombero License, onshore Tanzania.MV Upstream Tanzania Limited ("MV Upstream" - registered in Cyprus) is a wholly owned subsidiary of Motor Oil Vegas Upstream Limited (registered in Cyprus). MOTOR OIL (HELLAS) S.A. holds 65% of the share capital of Motor Oil Vegas Upstream Limited with the remainder 35% belonging to Vegas Oil and Gas Limited. For the participation of MOTOR OIL (HELLAS) S.A. in the share capital of Motor Oil Vegas Upstream Ltd. the Annual General Meeting of June 8, 2016 granted special permission pursuant to article 23a of the CL 2190 / 1920. Otto Energy (Tanzania) Pty Limited (" Otto" - registered in Australia) is a subsidiary of Otto Energy Limited, a company the shares of which are listed on the Australian Securities Exchange (ASX). Kilosa-Kilombero is an onshore block of 17,625 square kilometers for oil & gas exploration. The companies which participate as Joint Venture partners to this Exploration License are: Otto (currently 50%), Swala Oil and Gas (Tanzania) plc, (a company listed on the Dar es Salaam Exchange - 25%), Tata Petrodyne (a member of the Indian Tata Group - 25%). Swala Oil and Gas (Tanzania) plc is the operator. In consideration for the above MV Upstream will pay to Otto USD 2.3 million as past costs contribution and will carry Otto in respect of well costs up to the amount of USD 2 million. In addition, if there is a discovery necessitating drilling an appraisal well MV Upstream will carry Otto in respect of well costs up to USD 1 million. The transaction is subject to the approval of Tanzanian authorities and joint venture partners (SWALA Energy and Tata Petrodyne) approvals. In case of further developments in respect of the above, MOTOR OIL (HELLAS) S.A. will inform the investment community with subsequent announcements. [18] IDE signs 4.1 mln euro contract with Krauss Maffei Wegmann (KMW)INTRACOM Defense Electronics (IDE) signed a 4.1 million euro contract with Krauss Maffei Wegmann (KMW) for WiSPR intercommunication systems, in the frame of the PzH2000 retrofit program of the German Army.According to a IDE announcement on Monday, the agreement follows the successful completion of the prototype PzH2000 retrofit program, which was concluded in 2013, and where WiSPR proved once more its superior communications capabilities under significantly noise-burdened environments. WiSPR system deliveries for this program will be completed within May 2017. WiSPR is a state-of-the-art digital intercommunication system with leading performance in vehicular noise reduction and de-centralized system architecture, capable of adapting to different operational requirements. The system is designed and produced by IDE and it is characterized by reliability, ergonomy, and reduced logistics footprint. IDE's CEO, Dr. George Troullinos, stated: "We are very pleased by the continued international recognition of our products from quality driven users, which motivates us to further invest in leading edge technologies". [19] Greek stocks shed 2.89 pct, hit 4-month low in reaction to Brexit voteGreek stocks fell sharply on Brexit after shocks in the Athens Stock Exchange on Monday, tracking European markets, with the general index falling below 520 points. A brief rally following Friday's landslide losses of 13.42 pct was soon reversed and by market close the bourse had falled to a four-month low, with banks, Titan and Coca Cola HBC at the focus of selling pressure.The composite index plunged 2.89 pct to end at 519.33 points, for accumulated losses of 15.96 pct in the last two sessions, during which the market's capitalisation dropped by 6.5 billion euros and the banking sector fell 35.54 pct. The Large Cap index dropped 4.03 pct and the Mid Cap index ended 2.79 pct lower. Turnover was a hefty 108.53 million euros in volume of 195,850,063. Ellaktor (3.31 pct), Metka (2.12 pct) and OLP (1.42 pct) were the top gainers among blue chip stocks, while Eurobank (13.96 pct), Alpha Bank (9.04 pct), and Grivalia Properties (5.14 pct) posted the greatest losses. The sectors with gains were Industrial Products (1.07 pct) and Travel (0.22 pct) and the rest ended lower, led by Banks (-8.34 pct), Foods (-4.05 pct) and Real Estate (-3.59 pct). National Bank and Piraeus Bank were the most heavily traded securities of the day. Broadly, decliners led advancers by 55 to 47 with another 15 issues unchanged. Idiseofoniki Hellas (27.69 pct), Evrofarma (22.22 pct) and Varvaressos (20.00 pct) were top gainers, while Epilektos (-20.31 pct), Eurobank (13.96 pct) and Attica Bank (-11.30 pct) were top losers. [20] Greek bond market closing reportThe yield spread between the 10-year Greek and German benchmark bonds was 8.88 pct in the domestic electronic secondary bond market on Monday, with the Greek bond yielding 8.77 pct and the German Bund yielding -0.11 pct. Turnover was a single trade of one million euros.In interbank markets, interest rates were largely unchanged. The 12-month rate fell to -0.049 and -0.036 pct, the nine-month rate fell to -0.115 pct from -0.11 pct, the six-month rate fell to -0.178 pct from -0.177 pct, the three-month rate was -0.287 pct from 0.285 pct and the one-month rate was -0.375 pct. [21] ADEX closing reportThe July contract on the FTSE/ASE Large Cap index was trading at a discount of 0.47 pct in the Athens Derivatives Exchange on Monday. The FTSE/ASE Large Cap closed at 1,385.56 points, dropping 4.03 pct. Volume on the Big Cap index totalled 3,919 contracts with 5,733 open positions in the market.Volume in futures contracts on equities totalled 124,156 contracts with investment interest focusing on National Bank's contracts (43,466), followed by Piraeus Bank (31,700), Alpha Bank (22,903), Eurobank (11,734), MIG (10,691), PPC (913), OPAP (534), OTE (507), GEK (386), Mytilineos (341), Viohalco (317), Hellenic Petroleum (127), METKA (120), Motor Oil (86) and Ellaktor (15). General News [22] Wildfire in Dervenohoria in progress; no inhabited areas in dangerA wildfire that broke out on Saturday evening in Dervenohoria, central Greece, on Monday was still in progress.The fire has two major fronts and is burning a pinetree forest. 65 fire engines with a 160 member crew assisted by 133 firefighters on foot, 30 soldiers, 5 firefigthing aircrafts and four water dropping helicopters are at the area battling the blaze. According to Fire Brigade, the condition is now easier because the gusty winds that blew in the area on Sunday have faded. The fire is not threatening residential areas, said the authorities. [23] Greek candidancy 'Solidarity Salt' qualifies to semifinal of European Social Innovation CompetitionThe Greek proposal "Solidarity Salt" was qualified among 1,000 candidancies from 36 countries to the semi finals of the European Social Innovation Competition.The competition's aim is to promote innovative approaches that will develop the dynamic of the refugees and migrants and contribute to their incorporation in the reception countries. The Solidarity Salt is a new social enterprise in which women from Greece and women refugees residing in the country work together to create a successful business to export Greek sea salt. Vivian Karavia and Elisabeth Koulouri, both members of the Solidarity Salt, underlined "Our participation in the competition is the result of our will to assist the refugees as much as we can. We worried what would be the next day for the 50,000 refugees that are hosted in Greece of unemployment." [24] 57,046 identified migrants and refugees in Greece on Monday57,046 identified refugees and migrants were on the Greek territory on Monday while 132 persons arrived in the last 24 hours on the country.According to the Refugee Crisis Management Coordination Body's figures, 23,654 of the refugees are in northern Greece, 10,235 are hosted in the region of Attica, 8,656 on the Greek islands and 2,061 are hosted in different areas in central and southern Greece. 6,022 refugees and migrants are hosted in several facilities rented by the UNHCR, 4,918 are staying in non-organised facilities while approximately 1,500 persons are living outside organised facilities. Weather forecast [25] Mostly fair on TuesdayMostly fair weather and north-northwesterly winds are forecast for Tuesday. Wind velocity will reach 6 on the Beaufort scale. Partly cloudy in the afternoon in the northern and the western parts of the country with temperatures ranging from 20C-34C. Mostly fair in the eastern parts with temperatures between 21C-34C. Sunny over the Aegean islands and Crete, 23C-33C. Fair in the morning, partly cloudy in the afternoon in Athens, 21C-34C. Partly cloudy in Thessaloniki, 22C-33C.[26] The Monday edition of Athens' dailies at a glanceDIMOKRATIA: Difficulties for pensioners with disabled childrenEFIMERIDA TON SYNTAKTON: Panic in Britain, confusion in Europe ELEFTHEROS TYPOS: A difficult divorce for Britain and the EU ESTIA: Brexit causes a refugee crisis ETHNOS: New regulations for debt to Tax Bureau and Public Power Corporation KONTRANEWS: Bald initiative by Hollande, Renzi and Tsipras. They put an end to austerity NAFTEMPORIKI: Brexit wakes up Europe TA NEA: Looking for the right direction in the chaos 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 |
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