Athens News Agency: News in English, 10-11-19

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

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

CONTENTS

[01] PM calls for stepped up deficit-reduction effort

[02] ND leader to meet with 'troika'

[03] Strikes by municipal workers on Friday

[04] No slowdown in fiscal consolidation

[05] Greek-Bulgarian econ relations

[06] Athens Newspaper Headlines

[01] PM calls for stepped up deficit-reduction effort

"The initial targets of our programme will be maintained in the 2011 state budget as we have pledged. Namely, to reduce the deficit to 17 billion euros by the end of 2011," he said, adding that "essentially, the targets originally set have been met even though the starting points were changed."

"The difficult struggle we have launched has proved to be much harder than anticipated," he said, stressing that "efforts this year should be more intense than predicted," considering that the "deficit for 2010 is reduced by 14 billion euros to 22 billions and not to 18 billions as planned." ANA-MpA

Papandreou stated that the government has pledged that the civil servants will see no more cuts in their salaries or pensions, while there will be no additional tax increases, adding that "an effort will be made for a milder adjustment because the market is faced with huge problems."

More details on the subscriber's page of APE-MPE | Subscription request form

[02] ND leader to meet with 'troika'

In the meeting, scheduled to take place at 1:30 pm on Friday, Samaras will repeat that "the memorandum policy suffocates the Greek economy when what's necessary is to give a boost to growth".

He will make it clear that ND is against a layoff policy in the public sector, underlining that it will not solve the problem because it will only increase unemployment and strengthen the vicious circle of recession. However, he will support the implementation of structural reforms in the public and wider public sector to cut costs and increase effectiveness. Also, Samaras will flatly reject the likelihood of controlled bankruptcy. ANA-MPa

Before meeting with the "troika' representatives, he will chair a meeting of the party's executive secretariat to discuss the outcome of the recently held local government elections and the state budget tabled in parliament on Thursday.

More details on the subscriber's page of APE-MPE | Subscription request form

[03] Strikes by municipal workers on Friday

On Nov. 20 and 21, the municipal workers' union has called for a 48-hour abstention or strike, depending on individual sectors.

Union demands include the signing of a collective work contract, a new salary scale, protection of contract workers' rights, protection of auxiliary pension rights and healthcare.

More details on the subscriber's page of APE-MPE | Subscription request form

[04] No slowdown in fiscal consolidation

The minister also noted that this was the first budget that sought to apply fiscal management to the whole of general government spending. ANA-MPA

Papaconstantinou emphasised that the basic starting point for the new budget was the major revision of Greece's 2010 deficit and debt by Eurostat. The minister pointed out that the ministry's figures for the deficit had leaped from 10 billion euros in 2003 to 36.2 billlion euros in 2009, while the public debt had shot up from 168 billion euros in 2003 to 298 billion euros in 2009.

According to the minister, this development concerning the debt was the reason why he had not asked the reduction of the deficit to be spread over more than one year but chose to achieve the whole of the fiscal consolidation within 2011.

Papaconstantinou noted that the budget provided for cost-cutting and revenue-raising measures amounting to 14.3 billion euro and that these would lead to a net reduction of the deficit by five billion euro. At the same time, the economy was forecast to shrink by 4.2 percent in 2010 and 3 percent in 2011.

More details on the subscriber's page of APE-MPE | Subscription request form

[05] Greek-Bulgarian econ relations

"Despite the difficult international economic conjuncture, the level of Greek-Bulgarian relations is steadily expanding in a wide range of sectors, such as, indicatively, commerce, the economy, tourism, investments, energy and others," said Papoulias, who arrived in Sofia on Wednesday on a two-day state visit.

Papoulias noted that the bulk of bilateral trade was constantly increasing, and Bulgaria is now one of Greece's most significant partners, holding 4th place among buyers of Greek products, while Greece is Bulgaria's second biggest customer, absorbing 9.4 percent of Bulgaria's overall exports.ANA-MPA

"Greece's significant contribution to Bulgaria's economic growth is also mirrored by the presence of Greek enterprises in Bulgaria, with the total Greek capital invested in the country exceeding 2.8 billion euros," Papoulias noted.

More details on the subscriber's page of APE-MPE | Subscription request form

[06] Athens Newspaper Headlines

The 2011 State Budget and the 14.3 billion euros fiscal adjustment, and speculation of lay-offs in Public Utilities and Organisations (DEKO), dominated the headlines on Friday in Athens' dailies

ADESMEFTOS TYPOS: "Prime Minister George Papandreou preannounced new sacrifices".

AVGHI: "State Budget of 'Controlled bankruptcy'."

AVRIANI: "Half the state hospitals will shut down".

ELEFTHEROTYPIA: "High cost of living and destitution".

ELETHEROS TYPOS: "Who will pay for the damage?".

ESTIA: "State Budget up in the air".

ETHNOS: "Regulation/breather on the acquisition of first home".

IMERISSIA: "Huge cutbacks everywhere".

KATHIMERINI: "Possibility of layoffs in DEKO remains open".

LOGOS: "Troika's Budget".

NAFTEMPORIKI: "Harsh measures and 6.3 billion euros in new taxes".

NIKI: "768,000 civil servants' daily life changes".

RIZOSPASTIS: "State Budget wildly looting the people".

TA NEA: "Where the government will find 14.3 billion euros".

TO VIMA: "Budget of necessity and ....whoever can bear it".

VRADYNI: "Government devastates market and employees".

More details on the subscriber's page of APE-MPE | Subscription request form

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