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Athens News Agency: News in English, 10-04-27

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

From: The Athens News Agency at <>


  • [01] Samars meets EU-IMF-ECB auditors
  • [02] Gov't development policy
  • [03] Public transport work stoppage
  • [04] Trade deficit 26.9 down
  • [05] ASE opening: Sharp decline
  • [06] Athens Newspaper Headlines

  • [01] Samars meets EU-IMF-ECB auditors

    Main opposition New Democracy (ND) party leader Antonis Samaras held talks on Monday with the tripartite delegation of auditors of the European Union, International Monetary Fund and European Central Bank.

    It was revealed afterwards that the party's positions on handling the crisis were presented and analysed. Special emphasis was placed by ND on the need to avoid a further recession in the economy that would lead to a vicious circle due to the decrease in GDP.

    ND also insisted on proposals for measures to boost economic activity with emphasis on employment and the defending of jobs, as well as on the need for safeguarding social cohesion in a European country such as Greece, not only for reasons of balance and justice but for reasons of strengthening active demand as well.

    [02] Gov't development policy

    Ana-Mpa/Economy, Competitiveness and Shipping Minister Louka Katseli on Monday unveiled the government's new development policy which will focus on subsidizing of capital, tax exemptions, subsidizing of interest payment and subsidizing leasing of machinery equipment for contracts with a duration of up to seven years.

    Presenting the new policy, during a businessmen meeting, the minister stressed that small- and medium-sized enterprises will enjoy all subsidy programs, while larger enterprises, or large investment plans (worth more than 50 million euros) will enjoy tax breaks.

    The strategic goal of the government's new development legislation was the creating a new business and productive model, to boost the country's competitiveness, to raise employment and to lead to a dynamic and sustainable economy based on green development.

    [03] Public transport work stoppage

    Public transport will be at a stand-still from 11 in the morning to 5 in the afternoon on Tuesday due to a 6-hour work-stoppage called by transport workers' unions to attend a demonstration against the government's economic measures at Athens' downtown Kotzia Square.

    The only public transportation to be running normally will be the Proastiakos suburban railway.

    Commuters should be aware that the public transport means will start withdrawing from service at least one hour before the stoppage kicks in on Tuesday morning, while full restoration of service should be expected one hour after the end of the stoppage.

    [04] Trade deficit 26.9 down

    Greece's trade deficit shrank by 28.6 pct in February to 1.775 billion euros, from 2.486 billion euros in the corresponding period last year, the Hellenic Statistical Authority said on Monday.

    The statistics agency, in a report, said the value of import-arrivals fell 23.8 pct to 2.824 billion euros in February, from 3.705 billion in February 2009, while the value of export-deliveries fell 14 pct to 1.049 billion euros from 1.219 billion euros over the same period, respectively.

    The trade deficit in the January-February period totaled 3.682 billion euros, down 26.9 pct from the same period last year, with imports falling 21.1 pct to 5.691 billion euros and exports falling 7.5 pct to 2.009 billion euros.

    [05] ASE opening: Sharp decline

    Equity prices were declining at the opening of trade on Tuesday on the Athens Stock Exchange (ASE), with the basic share price index down 1.42 percent, standing at 1,779.30 points at 11:00 am, and turnover at 28.704 million euros.

    Individual sector indices were moving mostly downward, with the biggest gains in Health, up 0.87 percent; and Public Utilities, up 0.16 percent.

    The biggest losses were in Personal & Household Goods, down 2.03 percent; and Telecoms, down 1.60 percent.

    The FTSE/ASE 20 index for blue chip and heavily traded stocks was down 1.41 percent, the FTSE/ASE MID 40 index was down 1.58 percent, and the FTSE/ASE-80 small cap index was down 0.91 percent.

    Of the stocks traded, 17 were up, 49 were down, and 17 were unchanged.

    [06] Athens Newspaper Headlines

    The Tuesday edition of Athens' dailies at a glance

    The acceleration of negotiations on Greece's EU-IMF loan and the new austerity measures demanded by German Chancellor Angela Merkel in order to agree to the activation of the support mechanism, and speculation of a barrage of lay-offs in the public sector and salary cutbacks in the private sector, dominated the headlines on Tuesday in Athens' newspapers.

    ADESMEFTOS TYPOS: "Hundreds of public services to be abolished or merged - The draft bill is ready".

    APOGEVMATINI: "They're dismantling even the public health system - IMF demands drastic cutbacks in expenditures in health sector and the closing of hospitals".

    AVGHI: "They opened the way for lay-offs in the public sector - Initially, 75 public sector organisations will be abolished".

    AVRIANI: "Air force pilots on strike - The economic crisis gives rise to dangerous signs of disintegration".

    ELEFTHEROS: "Reactions over IMF set fire to Maximos mansion (government headquarters) - Ruling PASOK cadres and MPs in an uproar".

    ELEFTHEROS TYPOS: "The first lay-offs in the public sector - 'Pogrom' due to mergers and abolition of 75 public organisations".

    ELEFTHEROTYPIA: "We will give you money but you will bleed - Merkel: Additional austerity measures are necessary for a three-year period".

    ESTIA: "Immediate activation of the support mechanism is the last ditch opportunity for Greece".

    ETHNOS: "The list with the shut-downs in the public sector - Which entities will be abolished and which will be merged".

    IMERISSIA: "Assistance under harsh conditions - Alarm in EU - Fear of a domino effect".

    KATHIMERINI: "Merkel: Yes to assistance, but with more measures - The spread sets new record - The agreement with IMF will 'close' before the weekend".

    LOGOS: "Grey Monday for Greek economy under the pressure of EU, IMF and spreads".

    NAFTEMPORIKI: "New three-year austerity package in the final stretch".

    NIKI: "Experts offer us advice on our investments - Hints on how to protect our savings".

    RIZOSPASTIS: "Communist Party of Greece (KKE) secretary general Aleka Papariga's press conference: The road to people's development is more timely than ever".

    TA NEA: "Two salaries will be sacrificed for Merkel's sake - She insists on harsher measures in order to give her consent".

    TO VIMA: "Dangerous games on Greece's back - The pressure for austerity at the limits of social endurance".

    VRADYNI: "Merkel asks for more blood - Finance Minister George Papaconstantinou preannounced a new three-year austerity programme".

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