Athens News Agency: News in English, 10-08-31

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From: The Athens News Agency at <http://www.ana.gr/>

CONTENTS

[01] ND leader calls for a different economic policy

[02] ASE opening: Decline

[03] Athens Newspaper Headlines

[01] ND leader calls for a different economic policy

Samaras referred to a worsening of a series of economic indicators and concluded that "the memorandum is not a restructuring of public finances. It is killing the Greek economy and dissolving Greek society."

He reiterated a proposal for a "different policy mixture," with measures that combat the deficit and recession simultaneously; which will erase the deficit in two years and slash the state debt to 100 percent of GDP by 2013 -- compared to 150 percent that he predicted on the basis of the memorandum policy.

"With our plan we shall do away with restrictions of the memorandum, so that we can follow a policy of growth; not dolling out grants with borrowed money, but with a decrease in tax rates and a drastic abolition of distortions; a strengthening the competitiveness of the Greek economy," Samaras stressed.

Lastly, he aired a personal criticism of the prime minister, saying that his policy is leading the country into the "vicious circle of recession", while ND's political proposal is an exit from the crisis with recovery and growth.

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[02] ASE opening: Decline

All individual sector indices were moving downwards with the biggest losses in Financial Services, down 2.39 percent;Telecoms, down 2.09 percent and Banks, down 1.82 percent.

The FTSE/ASE 20 index for blue chip and heavily traded stocks was down 1.74 percent, the FTSE/ASE MID 40 index was down 1.02 percent, and the FTSE/ASE-80 small cap index was down 1.19 percent.

Of the stocks traded, 6 were up, 54 were down, and 13 were unchanged.

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[03] Athens Newspaper Headlines

Reactions against the memorandum and press speculation over new measures ordered Brussels; the government's moves to boost liquidity as well as the latest ban of smoking mostly dominated the headlines on Tuesday in Athens' newspapers.

ADESMEFTOS TYPOS: "Stop to smoking".

APOGEVMATINI: "Agony over closures - Markets at a loss, entrepreneurship collapses and unemployment skyrockets".

AVGHI: "Sales with debt as alibi - State to borrow more than 73 million euros in 2010'.

AVRIANI: "Karamanlis (Costas, the former ND government prime minister) syndrome infects Papandreou's government - 80 percent of population disappointed from PASOK governance, poll indicates".

CHORA: "Hellenic Telecommunications Organization to delist from NYSE".

ELEFTHEROS: "Papandreou was against IMF before elections; called it disastrous".

ELEFTHEROS TYPOS: "Civil war over government control".

ELEFTHEROTYPIA: "Document: 20 changes memorandum - new, painful measures Brussels demands".

ESTIA: "Market reacts to taxes - You can't take from someone who doesn't have enough to give".

ETHNOS: "Government's plan on salaries in public sector".

IMERISSIA: "Revenues collapse - Tax hikes fruitless".

KATHIMERINI: "Market says no to new taxes".

LOGOS: "Civil servants' payroll foresees unification of benefits".

NAFTEMPORIKI: "Businesses demand immediate change of policy".

NIKI: "Attention: Taxes!".

RIZOSPASTIS: "Communist Party leader Aleka Papariga: People rally with KKE"

TA NEA: "Up to 80 percent discount for debts to social security funds".

TO VIMA: "Breather for debts, VAT, (civil servants') mortgages - Alarm in government over market asphyxiation".

VRADYNI: "Growth with support to SMEs- Merchants, manufacturers tabled their own anti-memorandum".

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