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Athens News Agency: News in English, 07-06-08

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

From: The Athens News Agency at <>


  • [01] PASOK reaction to bonds issue

  • [01] PASOK reaction to bonds issue

    Main opposition Panhellenic Socialist Movement ( PASOK) spokesman and former minister Petros Efthymiou reiterated on Friday his party's scorching criticism of the government over the bonds affair, repeating that the bonds should be returned with all interest on the capital paid as well. The government, through its spokesman, responded harshly to the criticism later in the evening.

    He also charged that the number of funds involved in purchases of structured bonds, an investment tool thoroughly demonised in the east Mediterranean country over the past three months, is not four, but 24 state-run funds.

    Additionally, Efthymiou said it was inconceivable that the Greek taxpayers should pay the difference for the bond repurchase, whereas he said political, criminal and civil responsibilities should be duly assigned.

    Finally, he charged that shady bonds purchases in the wider public sector, such as with ATEbank, should be investigated.

    Along those same lines, a Coalition of the Left (Synaspismos) cadre said it was also "unacceptable" to cover difference in lost interest via the state's coffers, "transferring the burden from the kick-backs to the backs of the taxpayers," former deputy Panayiotis Lafazanis said.

    On his part, GSEE trade union president Yiannis Panagopoulos said the development could be positive if an investigation was expanded to all the state-run funds, while he referred to a "political cover-up" on the backs of workers and beneficiaries.

    Govāt spokesman responds to PASOK

    Minister of State and Government Spokesman Theodoros Roussopoulos on Friday evening responded to statements made earlier in the day by main opposition Panhellenic Socialist Movement (PASOK) spokesman Petros Efthymiou on the bonds issue.

    ?The truth is that at PASOK they do not want the issue of the investments of the social insurance Funds to be solved, as is being done, without any damage for the Funds, because the only thing they are interested in are the petty party benefits. Itās for this reason that every time they find new excuses and danger-monger shamelessly at the back of the pensioners. The government from the very first moment moved in a sincere way and with respect towards the insured. It sent those responsible to the public prosecutor. It changed the institutional framework of the operation of the Fundsā managements. It finds a solution so that not one euro is lost from the Fundsā reserves, but to also gain the interest rates,? Roussopoulos said.

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