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Athens News Agency: Daily News Bulletin in English, 16-09-21Athens News Agency: Daily News Bulletin in English Directory - Previous Article - Next ArticleFrom: The Athens News Agency at <http://www.ana.gr/>Wednesday, 21 September 2016 Issue No: 5251CONTENTS
[01] Tsipras: Debt relief will bring the curtain down on a modern Greek tragedyFor Greece to enter a path of sustainable growth, its lenders will have to do their duty to restore the viability of its debt, Prime Minister Alexis Tsipras said in a speech at the Concordia Summit in New York on Tuesday evening, noting that given their agreement, "that time is now". Tsipras said specific measures for the reduction of Greek debt should be announced by the end of the year to give markets and investors a clear message that "Greece is back, the years of the crisis are over". "By the end of 2016, the horizon should be clear. Before 2017 which is an election year for many countries," he said, adding this is a necessary condition for Greece to participate in the European Central Bank's quantitative easing program and return to the markets in 2017. "This is the responsibility of our international creditors. Debt relief will bring the curtain down on a modern Greek tragedy. For this reason, nobody has the right to hesitate or delay," he noted. The premier also referred to the strenuous efforts and decisive steps taken by Greece last year to ensure the internal political and economic stability, adding that this year marks the turn of the economy towards recovery. "The Grexit is history, growth is ahead," he told attendants. He then mentioned measures taken by the government to boost growth, citing an investment-friendly institutional environment which will ensure 12 years of stable taxation for investments exceeding 40 million euros. Tsipras said the government has legislated a meritocratic and effective public sector, escaping the practices of the past which favoured clientelism and bureaucratic apathy. "Every day we fight against corruption and the interests of the oligarchy which was connected with the old political system and hindered transparency and competition," he stressed. Changing topic, Tsipras said that cooperation in dealing with domestic and international challenges is as important as ever and hailed the strategic importance of the Concordia Summit in this direction. He said this is particularly useful for the European Union, while itself the product of political cooperation has shifted the weight of resolving transnational crises to national governments, at a time when Europe has become the crossroads of three global crises: the migration crisis, security crisis - which stretches from North Africa to the Middle East - and the economic crisis. He noted that the management of the financial and economic crisis of 2008 marked a shift in the logic of nationalization of collective problems. "A recourse to the logic 'not in my backyard', where we avoid the necessary reforms to deepen integration in social, economic and financial sectors, is why Europe has not yet recovered from this crisis," he said. "To put it another way, Europe, by following a dogmatic austerity agenda on the initiative of the North European creditor countries, has failed in what the United States achieved under a democratic management: to stop the crisis." However, in a broader environment of uncertainty, indecision and turmoil, Greece remains an anchor of geopolitical stability, Tsipras said. "And this is a precondition for European stability."[02] PM Alexis Tsipras to meet U.S. Vice President Joe Biden on TuesdayPrime Minister Alexis Tsipras will meet U.S. Vice President Joe Biden in New York at 14:40 local time, for a discussion that sources said will focus on Greece's debt and the Cyprus issue. Tsipras earlier met Cyprus President Nicos Anastasiades, who is also in New York and who briefed him on the progress of talks to solve the Cyprus problem. The Greek prime minister repeated Greece's support for the talks between the two communities on the island and Greece's steadfast position in support of a fair and viable solution to the Cyprus issue, based on UN resolutions. In the meeting with Biden, sources said the Greek government will note that a Cyprus solution will be one more step in the direction of stability in the wider region. Athens considers that progress has been made and supports the talks but notes that the withdrawal of Turkish occupation troops is a condition for a solution, while asserting that the guarantees regime is outdated and should be abandoned. Concerning the debt, sources said, Athens considers that the discussion on debt relief is continuing and that the second review of the Greek programme must also be accompanied by an agreement for debt relief outlining specific steps on a short-, medium- and long-term level. The prime minister was also due to present Greece's position and prospects in a speech at the Concordian Summit in New York on Tuesday afternoon and later address the UN Summit on Migrants and Refugees. Greek government sources noted that the government's aim since the start of the crisis was to start and keep up a discussion on the refugee crisis and its management on a European level, while the focus now was to start a discussion on a global level. Tsipras is also scheduled to meet British Prime Minister Theresa May on the sidelines of his visit for talks on Brexit and the prospects of Greeks currently working and studying in Britain.[03] Greece on the first line of refugee crisis, PM Tsipras says"Greece is on the first line of the refugee crisis for the humane and effective management in accordance with international law," Prime Minister Alexis Tsipras posted on a special account he has opened on United Nations' social media on the occasion of the 71th General Assembly of the Organization at its headquarters in New York.[04] FM Kotzias meets with his Croatian, Romanian and Bulgarian counterpartsGreek Foreign Minister Nikos Kotzias met on Monday, in the context of the High-Level Week of the 71st Session of the UN General Assembly in New York, with Bulgarian Foreign Minister Daniel Mitov, Croatian Foreign Minister Miro Kova and Romanian Foreign Minister Lazr Comnescu. They agreed to further promote this quadripartite set-up of understanding, to expand cooperation between their countries in the fields of infrastructure, networks as well as to have exchanges of views on issues such as the refugee issue, cross-border cooperation and the future of the European Union.[05] FM Kotzias to hold series of meetings in NY on TuesdayGreek Foreign Minister Nikos Kotzias will meet on Tuesday with his Bolivian counterpart David Choquehuanca C?spedes and the Iraqi Minister of Foreign Affairs Dr. Ibrahim al-Jaafari. Afterwards, Kotzias will meet with the Special Advisor to UN secretary general on Cyprus Espen Bart Eide as well as with the Foreign Minister of Kosovo E. Hoxhaj. Finally, he will attend a reception offered by the EU in the framework of the High-Level Week of the 71st Session of the UN General Assembly in NYC.[06] Tripartite FM meeting between Greece, Cyprus and Palestine in New York on WednesdayThe first trilateral meeting of Greece, Cyprus and Palestine will be held in New York on Wednesday with the participation of the respective Foreign Ministers, Nikos Kotzias, Ioannis Kasoulidis and Riad Malki, on the sidelines of the 71st Session and the high-level Week of the UNGA. According to diplomatic sources, with this initiative, Athens wants to show the Palestinians that its relationships are not one-sided, primarily concerning Israel, but that it retains the traditional relations with the Arab world. Kotzias will then hold a meeting with his Libyan counterpart Mohamed Taha Siala and Amos J. Hochstein, US Special Envoy and Coordinator for International Energy affairs. Next, he is meeting with Qatari Foreign Affairs Minister Sheik Mohammed bin Abdulrahman bin Jassim Al-Thani as well as Iyad Ameen Madani, Secretary General of the Organization of Islamic Cooperation. The minister will also take part in the meeting between Prime Minister Alexis Tsipras and Turkish President Recep Tayyip Erdo an and then attend a reception hosted by his German counterpart Frank-Walter Steinmeier to mark the official start of Germany' s campaign for a non-permanent UN Security Council seat in 2019-2020.[07] State minister meets US envoy on energy in New YorkState Minister Nikos Pappas met in New York with the Special Envoy and Coordinator for International Energy Affairs Amos Hochstein, with whom they discussed energy issues concerning the wider region. They also agreed for the need to promote as soon as possible the gas pipeline projects that will help Greece develop into a regional energy hub. Pappas discussed with Hochstein the Greek government's position that there is now an urgent need for an immediate and definitive settlement of the country's debt, as it has been agreed and without further delay. He said servicing the country's debt is very important but should not hinder economic growth.[08] Meeting on refugee issue underwayA meeting on measures to be taken in order to address the situation in Mytilene is currently underway after Monday's clashes at Moria hotspot. "A vessel will be leased to temporarily host refugees, mostly families, at the port of Mytilene until the hotspot fully operates again. Moreover, additional police forces will be sent to Lesvos," the secretary general of Aegean and island policy Giannis Giannelis said to the Athens-Macedonian News Agency. Officials also discuss further solutions to improve the situation on Lesvos and other islands of the eastern Aegean that receive large flows of refugees and migrants that afterwards get trapped on the islands. New clashes between groups of refugees and migrants of different nationalities broke out on Monday evening inside the Moria hot spot in Mytilene. A group of migrants set fire to several parts of the camp offering the opportunity to a large number of migrants and refugees to flee. Authorities evacuated the area that hosts unaccompanied children and transferred them to a new facility.[09] Alt. Migration Min Mouzalas denies creation of new hotspot on LesvosAlternate Migration Minister Yiannis Mouzalas ruled out the creation of a new hosting center (hospot) on Lesvos in a letter to Lesvos mayor Spyros Galinos. "As you already know, me and the government are doing whatever possible for the immediate decongestion of the island of Lesvos and of the other islands that host migrants and refugees" Mouzalas said, adding, however, "this aim cannot be achieved at the expense of the EU-Turkey agreement. The agreement is our country's duty to Europe and has the support of almost all the political forces of and cannot be called into question."[10] Alternate Citizen Protection Min Toskas on measures to restore the order in MytileneAlternate Citizen Protection Minister Nikos Toskas in statements to the Athens-Macedonian News Agency on Tuesday announced measures to restore the order among refugees in Mytilene. Toskas underlined that these situations must be dealt with prudence, caution and plan. "It has been proven that alliances with extreme elements are exploited by extreme parties, and they end up benefited from them," he added. Regarding the measures, Toskas said to ANA that a military C-130 aircraft left from Athens with destination the island of Lesvos, as well as 45 officers of the riot police to help in the restoration of normality in Moria hotspot and on the island in general. On the delays recorded in asylum requests, he said that the government is highly concerned and has ordered the acceleration of the process amid the recent instability in the area.[11] A ship that will host 1,000 refugees will leave for Lesvos on Wednesday, says Shipping Min. DritsasA vessel will be immediately sent to Lesvos to host refugees and migrants in order to decongest the hotspot at Moria where clashes broke out on Monday, Shipping and Island Policy Minister Thodoris Dritsas said to "Praktoreio 104.9 FM" on Tuesday. "The ministry took immediately action to send a ship in order to host the people provided that the authorities consider it necessary and we also received that same request from Lesvos mayor and the regional governor," noted Dritsas and explained that he will sign the tender for the leasing. "We will expect any response until Tuesday night and on Wednesday a ship will depart for Lesvos," said Dritsas adding that "If needed we will send a second ship and this procedure will be short and will be evaluated de facto." The vessel will be able to accomodate over 1,000 people and "will be used as a hosting facility noting that priority will be given to families". Referring to unaccompanied children, he explained that they have already been transferred to PIKPA facility and a procedure for their transfer to Athens is currently underway because they are excluded from the EU-Turkey agreement. "This agreement has restrictions and this is the reason we can't decongest that islands quickly". Asked to comment on Golden Dawn members' attack against a group of women in Moria, Dritsas said: "I can't confirm or deny it. I do not have official information on such incidents. At least such thing did not happen at the port. What I can say is that such phaenomena are unacceptable and condemnable". More than 50 huts accommodating 800-plus refugees were destroyed in a fire that broke out within the Moria camp during incidents on Monday, according to the UN High Commission for Refugees, in addition to some 40-50 tents. The fire is estimated to have affected roughly half the population in the camp, or some 2,000 individuals, including 95 unaccompanied minors that were transferred to other facilities. Once the municipality crews have cleaned up the Moria camp, UNHCR will pitch new tents and non-governmental organisations will distribute mattresses, blankets and water. About 100 family-size tents able to house 6-10 people are expected to arrive from Athens on Wednesday. It is not yet clear whether the fire in the camp has destroyed humanitarian and medical aid, since a record of the damages has not yet been completed.[12] Shipping ministry seeks to charter ship to feed and house refugees from MoriaThe Shipping Ministry made an "urgent" call to shipping companies on Tuesday for the chartering a ship to be used as an area to provide meals, medical care and possibly housing for refugees and migrants left without accommodation after the fires that swept through Moria hotspot in Lesvos on Monday night. In its website, the ministry says it seeks to lease a ship for one month (21/9-21/10) to cover the needs that arose after the clashes among refugees inside the camp and the destruction of a large part of the hotspot. It said the contract may be extended for a second month. The call expires at 21:30 tonight.[13] Greece confirms that situation in Mytilene is under control, EU Commission spox Bertaud saysBRUSSELS (ANA/Ch. Vassilaki) European Commission spokeswoman responsible for Migration Affairs Natasha Bertaud on Tuesday said that the Greek authorities confirmed that the condition on Lesvos is now under control. "We are in contact with the Greek authorities who have informed us that the situation is under control and most of the migrants have returned to the reception centre, where efforts are being made to repair the damages," she underlined, adding that the Commission continues to provide its assistance to the Greek authorities. Regarding the overcrowding at the hotspot of Lesvos as well as on the other islands, she referred to two practices followed by the Greek authorities and these have to do with the transport of unaccompanied children to other hosting facilities and the transfer of migrants and refugees who have sought asylum in Greece and according to the EU-Turkey agreement, their return to Turkey is not possible. Asked on whether the Greek authorities absorb EU funds on the migration issue, Bertaud said that there are two financing ways. The first one concerns the direct financing of non-governmental organisations, EU and international organisations, and the other one concerns the financing of public entities. "We help the Greek authorities to improve the management of EU funds," she said adding that the European Commission will send an expert to provide knowhow to the authorities on the management of those funds.[14] After Lesvos, Chios municipal council meets to discuss migrationThe municipal council of Chios is meeting on Tuesday evening to discuss how to handle the refugees who are trapped on the island, a day after clashes between refugees and the fires set in Moria's hotspot, in the nearby island of Lesvos. At the same time, journalists on the island met with the local prosecutor to whom they expressed their concerns and difficulties they face covering the refugee crisis, following attacks against them by extreme right groups last week. Journalists said they are being targeted, abused and beaten by specific people, noting how this impacts their work and their efforts towards pluralism in the media.[15] Alt. Citizen Protection Min to visit new temporary hosting centre of AmygdalezaThe new centre for the temporary hosting of refugees migrants families who wish to return voluntarily to their home countries will be handed over to police facilities in Amygdaleza. Alternate Citizen Protection Minister Nikos Toskas together with the Deputy Secretary of State for Migration Tzanetos Fillipakos will visit the centre at 11.00. Toskas and Philippakos will inspect the area, which is ready to receive its first guests. The centre will operate as a closed structure and detention center, as provided by the relevant procedure. The stay of refugees and migrants will not exceed 10 days. Families and young children wishing to return to their countries of origin through international migration organisations should remove the asylum requests submitted to the islands and then be transferred to Amygdaleza until their passports are issued. They will then depart accompanied to their home countries.[16] Restrictions on new lending by Attica Bank to be lifted within the day, government sources sayAttica Bank is in the process of rapidly solving any outstanding issues relating to restructuring its management, sources linked to government vice-president Yiannis Dragasakis said on Tuesday. They also noted that the bank's capital adequacy ratings are the highest in the domestic banking system and, at more than 16 pct, significantly exceed the euro-system minimums of 8-12 pct, depending on the stress test scenario chosen. "Attica Bank deposits are absolutely secure, while restrictions on extending new credit will be lifted within the day," the sources said. They noted that Attican Bank is under the supervision of the Bank of Greece, which is responsible for investigating and assessing its operation, and that the government has at no time been an obstacle to the central bank doing its job. "Whenever asked, [the government] argued in favour of taking all necessary measures for the sustainability and growth of Attica Bank," the sources added. "The government does not protect nor depend on anyone. It strives for transparency and oversight everywhere, with the assistance of justice where this is required, without a generalised criminalisation of the banking system," the vice-presidency sources said. They also noted that Attica Bank as "for years been the target of directed negative press from centres and forces that want either its closure or its acquisition for risible sums.[17] We must all review the issue of the Greek debt, former Italian president Napolitano tells ANAROME (ANA/ Th.Andreadis) "A way must be found for all of us to review the issue of the Greek debt," former Italian president Giorgio Napolitano said to the Athens-Macedonian News Agency late on Monday responding to a question on the relief of the Greek public debt. Napolitano was bestowed with the 'Dimitris Tsatsos 2016 award' of the center of the European and Constitutional Law- Institution of Themistocles and Dimitris Tsatsos. The awarding ceremony was held on Monday evening at the Greek embassy in Rome. "If this burden remains, it will be very difficult for the countries that bear this burden to get out of the debt vortex of non-development and the effort to seek support for new investments. This will be very difficult if there is not a European programme for investments, a European plan." Asked on the possibility the austerity policy to be permanently abandoned in Europe, Napolitano said: "Fortunately it is a top issue of the EU report presented by European Commission president Jean Claude Juncker. We must rely on these committments in order to have immediate and effective implementation. It concerns public investments higher than those estimated until today."[18] State Min Pappas summoned by parliament's institutions and transparency committeeThe president of the Institutions and Transparency Committee Tasia Christodoulopoulou summoned State Minister Nikos Pappas to appear before the Committee and brief on the TV licences procedure. The four highest bidders will also testify before the Committe since Christodoulopoulou accepted the request submitted by PASOK deputy Evangelos Venizelos as well as deputies of Democratic Alliance, of the Communist party (KKE) and Golden Dawn. All the other parties, apart from New Democracy, agreed. The main opposition insisted on making acceptable the request submitted earlier to implement the parliamentary control as provided by the Constitution and the Regulation of the Committee and call all those involved in the TV licences procedure.[19] Specific ministers promoting Kalogritsas involvement in TV, Potami's Theodorakis saysThe ownership of one of Greece's four television channels broadcasting nationwide by the Kalogritsas family is "a plan of specific ministers and specific journalists" linked to the SYRIZA party, opposition Potami leader Stavros Theodorakis claimed in Parliament on Tuesday. He predicted that more will be revealed over the next few days and that "the Kalogritsas family, pressured by the events, will soon reveal who involved them in this comic affair..." Theodorakis noted that easy bank credit to construction companies like that owned by Kalogritsas was "a well-known trick of ruling parties" in Greece. "We support some contractors so they will support us, in other words finance us, in their turn," Theodorakis said, adding that ruling coalition SYRIZA had "done the same thing". "It hands over money, many millions, to its own contractors. We demand that the Bank of Greece report on Attica Bank's financing of various contractors come to Parliament. But the plan for 'Kalogritsas TV' was not the family's. The idea and the plan belonged to specific ministers and specific party journalists of SYRIZA," he claimed. The Kalogritsas family submitted a successful bid for one of the four television content licences auctioned in recent weeks but questions have since arisen concerning how this money was raised and the involvement of Attica Bank.[20] Infrastructure minister tells ANA ministers are targeted for tackling vested interestsInfrastructure, Transport and Networks Minister Christos Spirtzis named six government ministers who he claimed are targeted by media because of the government's efforts to stop corruption and vested interests, in statements to Athens-Macedonian News Agency on Monday. Asked about an incident in New York where two journalists were stopped by police as they followed in disguise State Minister Nikos Pappas who is on official visit, Spirtzis said: "It shows the extreme targeting of certain government ministers; it shows how much we have annoyed [some people] with the effort we're making to make the country's political system independent from the economic system and the media; it shows the extreme forms and measures used by some people to slander government ministers and I believe we will see more of this. But we must not back down." Asked which ministers are being targeted, he said: "Open a newspaper and you'll see them" and went on to point to himself, State Minister Nikos Pappas, State Minister for Coordinating Government Operations Alekos Flambouraris, Education Minister Nikos Filis, Energy Minister Panos Skourletis and Alternate Health Minister Pavlos Polakis.[21] ND leader Mitsotakis' promises at TIF 'putting cart before the horse,' gov't spox saysThe government has little to fear from the promises made by main opposition New Democracy leader Kyriakos Mitsotakis at the Thessaloniki International Fair (TIF), government spokeswoman Olga Gerovasili said on Tuesday, in an interview with the Independent Balkan News Agency. "Why should we be worried ... when he has admitted himself that everything he promised is dependent on a slew of conditions regarding the course of the economy, putting the cart before the horse," she said, noting that Mitsotakis was aware that he had three years ahead of him before the next elections. The harsh policies supported by ND were well known, Gerovasili added, and Mitsotakis was asking people to "eat reheated food and believe it is a gourmet meal." Asked whether the government was concerned that ND's leader had appeared as a 'prime minister-in-waiting', she dismissed the suggestion and said Mitsotakis' speech at TIF was a "television show", complete with a director, script and lights. "Once you scratch the glamorous surface, however, you find the well-known Kyriakos Mitsotakis and the familiar political reality of New Democracy." Among others, she pointed out, Mitsotakis had silently admitted that he will raise VAT on medicine, though not by how much, that he saw room for more cuts in health and education, and that he has no interest in protecting wages and labour contracts in the private sector so as to boost "competitiveness". "To be precise, he didn't say anything that people don't already know, since he insists on ND's already failed prescriptions," she added.[22] Government agrees to hand state-owned land on Athens coast to local authoritiesState-owned real estate along the length of Athens' southern coast, from Alimos to Varkiza, will be handed over for the use of local authorities and the general public under a deal agreed on Tuesday between the Public Properties Company (ETAD) and the municipalities of Alimos, Glyfada and Vari-Voula. The agreement was announced after a meeting held at the Maximos Mansion, with Minister of State Alekos Flambouraris, Deputy Interior Minister Yiannis Balafas, ETAD President Giorgos Terzakis, Hellenic Republic Asset Development Fund (HRADF) chief Stergios Pitsiorlas and the three mayors involved. The deal has satisfied a long-standing demand by local authorities in the area, dating back decades, who want to exploit the often neglected and run down real estate in order to "revamp" the entire coastline, encouraging growth and tourism in their areas. The mayors thanked HRADF, ETAD and the government for their "constructive cooperation and the very good final result" while also linking the decision with the investment to develop the site of the former airport at Hellinikon.[23] Military helicopter crashes; pilots safeA Greek military helicopter Apache crashed into the sea region of Vrasna, Thessaloniki at 09:00 on Tuesday. The two pilots of the helicopter are safe.Financial News [24] Greek stock market holds 11th Investment Forum in LondonThe heart of the Greek stock market will be beating in London in the next few days as the heads and executives of the largest Greek banks and listed enterprises visit the UK capital in the framework of the 11th Investment Forum, September 20-22. The roadshow will bring together Greek listed companies with more than 80 investment funds in more than 600 meetings. The roadshow is held in a significant period for the Greek economy which shows positive signs, with provisional indexes showing that the economy is in a transition from stabilization to recovery. Chr. Gotsis, president of the Greek Capital Market Commission, in comments made to ANA, said the Greek delegation will try to convince foreign investors that the country has political, social, economic and bank stability in order to regain market confidence. The Greek side will underlined to foreign investors that Greece offers several investment opportunties promising satisfactory returns and will insist that the country -beyond an increase in equity holdings or a new entry to the portfolio of existing enterprises- has significant advantages to attract direct investments to boost production and offer new job positions. The Greek economy, according to most estimates of international and domestic analysts, is moving from stabilization to recovery, which is expected to be very significant in 2017 helped by a good tourism year, high absorption of EU funds and a partial repayment of state arrears to the private sector. Greece's economic sentiment index has significantly improved, while initial fears of significant negative consequences from Brexit seemed not to be verified. The representatives of the Greek capital market will underline that a second review of the Greek program will allow ECB's president Mario Draghi to approve the inclusion of the country to the QE program -expected to run by September 2017- and the Greek government to begin negotiations on debt relief measures. They will underline to foreign investors that everything shows that 2016 will be the last year of a prolonged crisis in the country. Banks will surely be at the focus of attention and mostly for their strategy to reduce non-performing loans, while Greek bankers will present the satisfactory results presented in the second quarter of 2016, which show that Greek systemic banks are on the way to a profitable year. Most analysts agree that Greek bank's results for the second quarter of 2016 confirmed expectations over the sector's course and revealed positive trends in pre-tax earnings and liquidity. Greek banks raised their operational revenue by 11 pct (on a quarterly basis), controlled costs, reduced borrowing from ELA and raised deposits by 2.0 billion euros. These trends is certain to be continued in the second half of the year, helping banks to return to profitability. The 11th Investment Forum in London is held after the Greek market was downgraded to an advanced emerging market by FTSE Group as a result of the imposition of capital controls to Greek investors. The Greek delegation comprises of: National Bank, Alpha Bank, Eurobank, Piraeus Bank, MIG, Hellenic Exchanges, OPAP, OTE, Titan, Folli Follie, Motor Oil, Hellenic Petroleum, Aegean Airlines, Ellaktor, Fourlis, GEK Terna, Terna Energy, Grivalia Properties, Lamda Development, Mytilineos, Metka, National Pangaea, Sarantis, Thrace Plastics, Heltech-Anemos, MLS and Creta Farms. Investment Bank of Greece, Euroxx, Beta, Eurobank Equities, Alpha Finance, National Securities, Pantelakis Securities and Piraeus Securities act as sponsors of the 11th Roadshow in London.[25] There will be no discounts or compromises, Roumeliotis saysAttica Bank's new chairman Panagiotis Roumeliotis on Tuesday sent a clear message to everyone inside and outside the bank that "absolutely no one can undermine a bank, such as Attica Bank, with comments and public confrontation, which has an historic role and can play a significant development role at the same time". Addressing a general meeting, Roumeliotis expressed his sorrow that in the last few days so much noise was made regarding the bank's new management. "I am not willing to play any political game. As a technocrat and professional my aim is the smooth continuation of Attica Bank's operation. Don't expect any discounts, compromises, we are not influenced by any one. I am certain that we will win a battle for the good of the country and the bank". Roumeliotis noted that the bank's new management will fully cooperate with supervisory authorities (SSM and the Bank of Greece) in order to examine all issues related with a report on the bank's activities.[26] New restructuring plan for Attica Bank will be 'unpleasant', says CEOAttica Bank's new restructuring plan will "not be pleasant" and will include a voluntary exit scheme and wage cuts, as a report prepared by the Single Supervisory Mechanism (SSM) showed that they were higher than in other Greek lenders, the new CEO, Theodoros Pantalakis said during a press conference on Tuesday, following the bank's general meeting. Pantalakis said the plan also includes supplementing the bank's equity, restructuring non-performing loans (NPLs) and achieving profitability, while stressing that deposits are fully safeguarded. "The restructuring plan will not be pleasant, but unpleasant, as things will change, but it will be useful and effective for the bank and its shareholders," he told journalists. "The plan will be short and effective so as to completely eliminate any concerns. Everything is under review - the structures, the organization, the bank operation, he said. Responding to a question about loans granted by the bank to businessman Christos Kalogritsas, Alternate CEO Athanasios Tsaldaris said they are within the approved limits of the bank, are serviced and have been granted under the most stringent conditions. The bank's management also said the lender will no longer grant loans to media groups.[27] Bank of Greece ends freeze on new lending for Attica BankThe Bank of Greece on Tuesday announced that it had lifted temporary restrictions on new lending and credit facilities by Attica Bank, after the bank resolved corporate governance issues. The central bank said that an emergency general shareholders' meeting at Attica Bank ended the gap in governance and allows the bank to look to the future with optimism. It said the decisions taking at the meeting "are an especially important step for modernising Attica Bank's corporate governance framework." "The Bank of Greece will work closely with the bank's new management to further strengthen and support its structure and operations," the central bank announcement said. It also noted that the bank's capital adequacy rating was significantly higher than the minimum limit and liquidity conditions required by the eurosystem.[28] Capital Market Commission ends suspension of trading for Attica BankTrading in Attica Bank shares resumed at 15:30 on Tuesday afternoon, after the Hellenic Capital Market Commission lifted a temporary order suspending trade in the bank's stock. The decision was made in the wake of a Bank of Greece announcement that it was unfreezing new lending by the bank, after Theodoros Pantalakis was appointed as its new CEO.[29] The goal is to restart entrepreneurship in GreeceA dynamic restart of Greek entrepreneurship is the key to definitely break a vicious cycle and for the country to enter a recovery course, Dr. Vasilis G. Apostolopoulos, president of Hellenic Entrepreneurs Organization said on Tuesday. In an interview with ANA, Dr. Apostolopoulos said the Greek state can and must facilitate a recovery without any additional burdens on public finances. It requires a "revolution" in rationalism, implementing laws and rapid judicial procedures, simplification and relief of often counter-productive bureaucracy, smart incentives and direct sanctions for those breaking the law. The state must reduce its presence where it is not needed and to be more decisive where interventions are necessary. A chronic demand by Greek entrepreneurs, he said, is stability. "Constant instability, uncertainty and tax volatility harshly hit business activity, even more in conditions of recession and repeating crisis. There must be an horizon of stability with focused incentives throughout the spectre of entrepreneurship to begin a productive recomposition of Greek business activity," Apostopoulos said. He added that a precondition to lead the economy to growth was to achieve a multi-layer stability (stable political climate, a continuation in civil administration and the state, stable tax framework). He noted that supplementary to the implementation of a new development law, incentives should be given throughtout the spectre of entrepreneurship to facilitate access in investment funds.[30] Alt.Tourism Min Kountoura in tourism exhibition in ParisAlternate Tourism Minister Elena Kountoura will attend TOP RESA 2016 - International Tourism & Travel Exhibition that will take place in Paris on September 20-23. Kountoura will meet with government officials, tour operators, travel agencies and airlines of France to promote Greece as an attractive tourist destination all over the year as well as to encourage partnerships ahead of the new tourist season. The Greek National Tourism Organization (EOT), which participates in the fair, is also organising a special event with the support and cooperation of the Embassy of Greece in Paris to highlight Greece's attractions and promote the country abroad.[31] 2016 will be a positive year for Greek tourism, president of Hoteliers Federation tells ANAThe current tourist season is expected to be a positive one, the president of the Hellenic Hoteliers Federation Yiannis Retsos said to the Athens-Macedonian News Agency. However, he explained that the revenues will be lower than the estimates of the Association of Greek Tourism Enterprises which spoke for an additional 1 billion euros compared to last year. Retsos expressed his concern and warned the government and tour operators that Greece has benefited from the recent developments (Turkey and Middle East) but this will change in the future. Certainly, he said, "Turkey, which this year lost 10 million tourists, will make a strong rebound next year." The president of the Hoteliers Federation underlined that the average number of stays in a hotel has been reduced, adding that this has an impact on annual revenues. Moreover, he stressed the need for investments to improve tourist infrastructures and to upgrade destinations. However, the lack of an investment law is a problem, Retsos added. According to a MCkinsey report, 3 billion euro investments need to be carried out every year, 500 million euro of which should come from the investment law. "We are lagging behind two years," he said. In terms of arrivals, Greek tourism is close to a new record this year. Arrivals rose by 753,000 or 6.5 percent in the eight month period from January to August compared to last year.[32] Greek budget records 3.756-bln-euro primary surplus in Jan-AugThe Greek state budget recorded a primary surplus of 3.756 billion euros in the January-August period this year, from a surplus of 3.798 billion in the same period last year and a budget target for a surplus of 980 million euros, official figures showed on Tuesday. In the eight-month period revenue surpassed targets by 494 million euros, while in August regular budget revenue surpassed monthly targets by 62 million. The general government's deficit was 1.035 billion euros in the January-August period, from a deficit of 1.104 billion euros in the same period last year and a budget target for a deficit of 3.880 billion euros. Net state budget revenue was 31.950 billion euros, down 1.8 pt from targets. Regular budget net revenue was 29.883 billion, up 1.6 pct from targets. Tax returns (excluding returns from a state arrears settlement program) was 1.907 billion euros in the six-month period, up 97 million from targets. Public Investment Programme revenue was 2.067 billion euros, down 1.048 billion from budget targets. In August, state budget net revenue was 3.952 billion euros, up 58 million from monthly targets, while regular budget net revenue was 3.932 billion euros, up 62 million from targets. Tax returns in August amounted to 187 million euros, down 122 million euros from the previous month. State budget spending in the January-August period totaled 32.985 billion euros, down 3.429 billion from targets, while regular budget spending was 30.813 billion euros, down 2.546 billion from targets. Regular budget spending were up compared with the same period last year (+507 million euros). Public Investment Programme spending was 2.172 billion euros, down 883 million from targets. State budget spending was 4.155 billion euros in August, down 133 million from targets, while regular budget spending was 3.688 billion euros (down 151 million).[33] Hellenikon property deal approved by parliamentary committee, bill sent to plenumThe parliament's economic committee approved with a wide majority on Tuesday a draft bill for the sale and long-term lease of the old airport of Hellenikon, opening the way for the completion of the deal. The bill, which was voted by all the parties except the Communist Party and Golden Dawn, will be sent to the plenum on Wednesday.[34] Greek current account balance showed 1.4 bln euros surplus in JulyGreeck current account balance showed a surplus of 1.4 billion euros in July, down by 1.1 billion year-on-year, the Bank of Greece said on Tuesday. The central bank, in a monthly report, attributed this development to an increase in the deficit of the balance of goods and, to a lesser extent, to a deterioration in the other balances that make up the combined account. The deficit of the balance of goods doubled mainly on account of a significant rise in imports, compared with imports in July 2015, which had registered a sharp drop year-on-year due to the imposition of capital controls. It should be noted that imports in July 2016 remain well below their level in 2013 and 2014. In July 2016, exports declined, mainly due to a fall in the value of oil exports. It should be noted that, although total exports of goods declined by 2.9 pct at current prices, at constant prices they rose by 6.2 pct. In addition, exports of goods excluding oil increased by 2.8 pct at constant prices. The surplus of the services balance declined by 139 million euros, as a result of lower net travel and other services receipts. By contrast, net transport receipts were higher year-on-year, on account of the improved sea transport balance. As regards travel services in July 2016, both receipts and non-residents' arrivals declined by 3.5 pct and 2 pct respectively. In the January-July 2016 period, the current account balance improved by 306 million euros year-on-year and showed a deficit of 1.1 billion. This development is attributable to an improvement in the primary and the secondary income accounts, while the balance of goods and services deteriorated. The balance of goods showed an improvement of 653 million euros, which reflects the improved oil balance owing to lower oil prices and reduced net payments for purchases of ships, as a large part of the relevant transactions are conducted outside the domestic banking system after the imposition of capital controls. The balance of goods excluding oil and ships deteriorated mainly on account of aforementioned developments in July. It should be noted that, at constant prices, total exports of goods grew by 6 pct, reflecting mainly a rise in the volume of oil exports, while exports of goods excluding oil remained almost unchanged. The surplus of the services balance dropped by 1.6 billion in the January-July 2016 period, due to a significant decline in net transport receipts, which is largely attributable to capital controls. Net travel receipts also recorded a fall. Total non-residents' arrivals increased by 1.1 pct, while the corresponding receipts declined by 4.8 pct. These developments were offset to a small extent by an improvement in the other services balance. The primary income account showed a surplus of ? 930 million, up by 887 million euros year-on-year. The secondary income account also improved. In July 2016, the capital account showed a small deficit, against a surplus in July 2015, while in the January-July 2016 period it showed a surplus of 642 million, up by 34 million year-on-year. In July 2016, direct investment recorded an increase of 93 million in residents' external assets. Portfolio investment showed an increase of 4.9 billion in residents' net external assets, mainly as a result of a rise of 5.0 billion in residents' holdings of foreign bonds and Treasury bills. In the January-July 2016 period, residents' net assets from direct investment abroad declined by 1.6 billion euros, while the corresponding liabilities, that represent non-residents' direct investment in Greece, increased by 134 million. Under portfolio investment, residents' net external assets registered an increase of 5.2 billion, which is mainly attributable to a rise of 6.5 billion in residents' holdings of foreign bonds and Treasury bills, which was partly offset by a decrease of 1.5 billion in residents' investment in foreign equities. Residents' net external liabilities fell by 2.3 billion, mainly on account of a decline in non-residents' holdings of Greek government bonds and Treasury bills. At the end of July 2016, Greece's reserve assets stood at 6.9 billion euros, compared with 5.1 billion one year earlier.[35] Wage employment balance positive in Jan-AugThe wage employment flows balance in the private sector was positive in the January-August period this year, recording the highest performance since 2001, the Labour ministry said in a report by the Ergani IT system on Tuesday. In the eight-month period, new hirings totaled 1,412,987 job positions, while dismissals totaled 1,176,161, of which 549,265 were voluntary exits. The balance of wage employment flows showed 237,817 new job positions in the January-August period. "The government's efforts to boost employment and to combat unemployment continue and intensify," an announcement said.[36] Thrace Plastics reports improved H1 resultsThrace Plastics Group on Tuesday reported an increase in sales and profits in the first half of 2016, compared with the corresponding period last year. Consolidated turnover was 150.6 million euros in the January-June period, up 3.8 pct from the same period last year, while consolidated pre-tax earnings totaled 10.6 million euros, up 40.2 pct from 2015. Consolidated gross earnings rose 14.9 pct to 35.4 million euros, while consolidated EBITDA rose 16.8 pct to 18.4 million euros. Consolidated after tax and minorities earnings amounted to 8.1 million euros in the first half of 2016, up 41.1 pct from 2015. Net bank borrowing was 58.8 million euros in June 30, 2016, up from 42.4 million euros in December 31, 2015. The Group said results continued improving in the third quarter of 2016. "It is a fact that uncertainty and instability in international economic activity persists in the second half of 2016. Despite this, the Group continues implementing its strategic plan and has created the preconditions to strengthen its position in the market, to further develop and improve its profit margin," Thrace Plastics said in an announcement.[37] Ryanair to cut available seats to Greece by 2 pct in 2017Low-cost airliner Ryanair said it will reduce its available seats to Greece by 2 percent next summer compared to 2016 due to the high airport fees, its chief commercial officer David O' Brien said on Tuesday. Speaking at a press conference, Co Brien said the company will not offer flights to Kos in 2017 and criticized Greek governments for the taxation policy followed in air transport as well as for not responding to 26 letters which included proposals for developing more operations in the country. At the same time, he said the airliner will add a summer route from Athens to Sofia next year and more flights to Chania and Mykonos which "will transport 3.4 million passengers per year."[38] Greek merchant shipping fleet down in JulyGreek merchant shipping fleet fell 0.3 pct in numbers and 1.8 pct in volume in July, compared with the same period last year, Hellenic Statistical Authority said on Tuesday. The statistics service, in a report, said that the Greek merchant shipping fleet totaled 1,839 vessels in July, while capacity totaled 44,228,411 dwt in the same month.[39] Greek stocks end slightly higherGreek stocks ended slightly higher in the Athens Stock Exchange in thin trading conditions on Tuesday, as investors remained on the sidelines. The composite index of the market rose 0.56 pct to end at 560.59 points, off the day's highs of 560.85 points. The Large Cap index rose 0.84 pct and the Mid Cap index eased 0.50 pct. Turnover was a thin 27.920 million euros in volume of 37,412,392 shares. OPAP (4.19 pct), Metka (2.20 pct) and Alpha Bank (2.0 pct) were top gainers among blue chip stocks, while Aegean Airlines (9.58 pct), Viohalco (1.69 pct) and PPC (1.50 pct) suffered the heaviest percentage losses of the day. Among market sectors, Chemicals (2.63 pct) and Travel (2.57 pct) scored big gains, while Raw Materials (1.06 pct) and Food (0.50 pct) suffered losses. National Bank and Piraeus Bank were the most heavily traded securities of the day. Broadly, advancers led decliners by 56 to 42 with another 15 issues unchanged. ANEK (18.33 pct), Mathios (10 pct) and Kepenos Mills (9.92 pct) were top gainers, while Intrakat (9.88 pct), Aegean Airlines (9.58 pct) and Galaxidi (7.28 pct) were top losers.[40] Greek bond market closing reportThe yield spread between the 10-year Greek and German benchmark bonds widened slightly to 8.64 pct in the domestic electronic secondary bond market on Tuesday, from 8.63 pct the previous day, with the Greek bond yielding 8.62 pct and the German Bund yielding -0.02 pct. Turnover was a thin 4.0 million euros, all buy orders. In interbank markets, interest rates were largely unchanged. The 12-month rate was -0.057 pct, the nine-month rate rose to -0.126 pct from -0.128 pct, the six-month rate rose to -0.200 pct from -0.202 pct, the three-month rate was -0.301 pct and the one-month rate was -0.371 pct.General News [41] Blue Star ferry evacuated in Rhodes after bomb reported on boardAuthorities evacuated passengers and crew from the Greek ferry "Blue Star II" shortly before its departure from the island of Rhodes on Tuesday, following an anonymous call that there was a bomb on board. The call was made at 16:45, minutes before the ferry was due to set sail for the port of Piraeus. Everyone on board the ferry was ordered to disembark as a precaution and authorities are now conducting a thorough sweep of the ship, with the aid of a special sniffer dog trained to find explosive devices. Nothing has been found yet, though the incident has greatly inconvenienced passengers, who don't know when and if the 'Blue Star II' will finally set sail.[42] Journalist Stefanos Chios charged with slander; released pending trialGreek journalist Stefanos Chios was released from police custody on Tuesday evening after being charged for slander for a report published on the front page on his newspaper "Makeleio", which insinuated Infrastructure, Transport and Networks Minister Christos Spirtzis was involved in a corruption case. He will appear before a Misdemeanors court on Wednesday. Chios was arrested outside his home early on Tuesday afternoon, based on a lawsuit filed against him by Spirtzis.Weather forecast [43] Cloudy on WednesdayUnstable weather and northerly winds are forecast for Wednesday. Wind velocity will reach 5 on the Beaufort scale. Clouds and rain in the northern parts of the country with temperatures ranging from 14C to 26C. Partly cloudy in the western parts with temperatures between 16C and 26C. Cloudy in the eastern parts with temperatures ranging from 16C and 28C. Rain over the Aegean islands and Crete in the afternoon, 22C-29C. Partly cloudy in Athens, 18C-28C. Rain in the afternoon in Thessaloniki, 15C-23C.[44] The Tuesday edition of Athens' dailies at a glanceDIMOKRATIA: King Kong FundEFIMERIDA TON SYNTAKTON: The low prices of Egnatia Road ELEFTHEROS TYPOS: Kalogritsas and the loans taken by Attica Bank ESTIA: Impasse on refugee issue due to lack of policy ETHNOS: Guaranteed income for 700,000 households IMERISSIA: Automatic electronic detector for tax evasion KATHIMERINI: Explosive mix on Lesvos KONTRANEWS: PASOK and New Democracy received 13 million euros from Attica Bank NAFTEMPORIKI: Two-speed employees 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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