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Athens News Agency: News in English, 10-04-26

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

From: The Athens News Agency at <>


  • [01] PM briefed on merger, abolition of state entities
  • [02] Union heads warns of more strikes
  • [03] FinMin: IMF in line with EU
  • [04] Institute: Tourism outlook flat
  • [05] LA.OS against IMF option
  • [06] Stocks hit new 2010 lows

  • [01] PM briefed on merger, abolition of state entities

    (ANA-MPA) -- Prime Minister George Papandreou was briefed on Monday by government vice-president Theodoros Pangalos and Deputy Finance Minister Filippos Sahinidis on the course of proceedings of a committee, chaired by Pangalos, examining the abolition or merger of dozens of public sector agencies, organisations and entities. (ANA-MPA)

    A relevant draft law is ready, according to reports, which initially provides for the abolition or merger of 70 -75 entities, most of which have operational expenses directly or indirectly burdening the state's deficit-plagued budget. (ANA-MPA)

    As regards employees of the organisations in question, they will most likely be transferred to other posts, while those with contract worker status will be treated in accordance with existing legislation, government sources said.

    [02] Union heads warns of more strikes

    (ANA-MPA) -- Umbrella trade union GSEE president Yiannis Panagopoulos on Monday warned of more strikes in the immediate future.

    The trade union's executive committee will convene on Tuesday, Panagopoulos said, adding that he will recommend the staging of industrial actions in the immediate future.

    Social security and labour rights' issues are non negotiable, he said, particularly those referring to collective bargaining agreements and the role of the mediation and arbitration organisation, which was established to settle employee-employer disputes.

    [03] FinMin: IMF in line with EU

    (ANA-MPA) -- A current round of talks between Greece and the IMF is moving towards a simple and common approach that the country "needs to drastically reduce its fiscal deficit, control public debt and promote all the structural reforms to have a more competitive economy," Finance Minister George Papaconstantinou said on Monday. (ANA-MPA)

    Speaking to reporters, the Greek minister emphasised: "It's wrong to think that the IMF is coming here to impose harsher or different conditions than the ones we are negotiating with our European partners". (ANA-MPA)

    [04] Institute: Tourism outlook flat

    (ANA-MPA) -- Greece's Tourism Research and Forecasts Institute (ITEP) on Monday said tourism prospects for 2010 were not favourable as a volatile and uncertain economic environment was leaving no room for quantative but for quality approach in the industry. ITEP, in a report, said 2010 would be the same -and even more difficult- compared with the previous year, with early reservations figures negative so far. (ANA-MPA)

    Reservations from Greece's traditional tourism markets, Germany and the UK were down 10 pct and 7.0 pct so far this year, reflecting negative comments by (ANA-MPA) foreign media over the country's situation. However, the country was getting positive messages from the markets of France, Italy and Eastern Europe (Russia, Ukraine, etc).

    [05] LA.OS against IMF option

    (ANA-MPA) -- Popular Orthodox Rally (LA.OS) President George Karatzaferis on Monday again lashed out at the decision to activate a eurozone-IMF support mechanism for the country, referring to an "emergency solution".

    "The IMF is not the best possible solution (ANA-MPA) but an emergency solution" while he expressed concern over what he called a "lack of national understanding on how to deal with the consequences of the IMF."

    Earlier, Karatzaferis met with former foreign minister of Cyprus Giorgos Lillikas. (ANA-MPA)

    [06] Stocks hit new 2010 lows

    Stocks ended at new 2010 lows at the Athens Stock Exchange on Monday, hit by a jump in Greek bond spread to new record highs. The composite index of the market ended at 1,804.91 points, down 2.86 pct, with turnover at 185.985 million euros.

    The FTSE 20 index dropped 2.65 pct, the FTSE 40 index ended 3.67 pct down and the FTSE 80 index fell 2.47 pct. The Insurance sector was the only one to end higher (0.76 pct), while Health (7.25 pct) and Oil (5.79 pct) suffered the heaviest percentage losses of the day.

    Attica Publications (9.57 pct), Nutriart (7.41 pct) and Minerva (5.30 pct) were top gainers, while Ilyda (19.61 pct), Sidenor (12.11 pct) and Altec (11.76 pct) were top losers. Broadly, decliners led advancers by 158 to 31 with another 33 issues unchanged.

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