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Athens News Agency: News in English, 06-01-11

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

From: The Athens News Agency at <>


  • [01] PASOK slams gov't over absorption of EU funds

  • [01] PASOK slams gov't over absorption of EU funds

    Main opposition PASOK MP and head of the party's Economic Division Vasso Papandreou on Wednesday criticised the government for its "slow rate of absorption" of the Third Community Support Framework (CSF) funds.

    "The negative development regarding the Community Support Framework became evident during the first year New Democracy was in office," Papandreou said.

    "While in 2002 and 2003 the rate of absorption increased by 36% and 40% respectively, in 2004 it inexplicably fell marginally by 4.2%," Papandreou noted.

    "As of November 15, 2005 the absorption rate stood at 35.3%, just 5.5 points higher than in the beginning of the year, confirming the impasse to which New Democracy has led the realisation of the Third Community Support Framework," she said, responding to comments made earlier by Deputy Finance Minister Christos Folias on the subject.

    Furthermore, Papandreou noted that the slight increase in the absorption rate was "misleading since it was the result of adding projects to CSF III that had been completed in previous years with state funds".

    Finally, she urged the government to make public the projects that were included in CSF III after March 1, 2004, but that had started or been completed before then.

    Greek govt satisfied with EU funds' absorption rates

    Greece has to absorb around 6.6 billion euros from a Third Community Support Framework programme to avoid losing any more funds, Economy and Finance Deputy Minister Christos Folias said on Wednesday.

    Speaking to reporters, Folias said Greece secured funds totalling 62 percent by the end of 2005 which meant that the remaining 38 percent must be secured into contracts by the end of the current year, according to EU regulations.

    The Greek minister expressed his satisfaction over the large progress made over the last few months both in absorbing funds from a Third Community Support Framework and a more efficient management of funds. He expressed the wish that even the last euro would be invested and not spent.

    Folias said EU funds' absorption rate by an Information Society programme reached 33 percent by the end of 2005 from 11 percent in 2004.

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