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Athens News Agency: News in English, 11-08-23

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

From: The Athens News Agency at <>


  • [01] FinMin on exchange of bonds; VAT rates
  • [02] Paleontological exhibition in Siatista
  • [03] Building materials price index up
  • [04] Shipping remittances total 5.64 bln euros
  • [05] Seasonal winds in Aegean ideal for windsurfers

  • [01] FinMin on exchange of bonds; VAT rates

    ANA-MPA/Government Vice President and Finance Minister Evangelos Venizelos on Monday said the process of exchanging Greek bonds possessed by private investors is at an advanced stage, and is expected to be completed in the first two weeks of October.

    Venizelos pointed out that implementation of the decisions of the July 21 Eurozone summit will change developments to the benefit of the Greek economy, while referring to the country's commitments regarding structural changes, he said they will take place normally without political costs taken into consideration.ana-mpa

    Meanwhile, following a meeting with productive and social partners focusing on the tax system, Venizelos said discussions over tax rates is barren "if we do not solve the issue of a VAT collection mechanism."

    Referring to increased VAT rates for restaurants, eateries and cafes as lf Sept. 1 -- from 13 percent to 23 percent -- he clarified that it is valid, but special care will be taken for tourism businesses.ana-mpa

    "The economy and society cannot tolerate more fragmented arrangements and ineffective measures. The weak market can no longer respond to either normal or extraordinary tax measures that are being imposed without any limit," the president of the National Confederation of Trade, Vassilis Korkidis, said after the meeting with Venizelos.

    Athens Chamber of Commerce and Industry president Constantine Mihalos added that the government "must proceed with the complete overhaul of the country's tax system and enact a simple, stable, fair and development-based tax system ... as well as lifting a series of investment counter-incentives."

    [02] Paleontological exhibition in Siatista

    ANA-MPA/ A collection of paleontological finds was inaugurated in the northwest town of Siatista , with the fossils -- discovered in the local region -- on display at the local high school.

    The fossils were collected by local residents over the last century and comprise a collection of bones, mostly with trunks, dated to the Pleistocene period (10,000- 2,000.000 BC).

    The most important exhibit is a tooth of a Stegodon, dated 2-3 million years BC, which is the only Stegodon fossil located in the European continent.

    [03] Building materials price index up

    ANA-MPA/The new home building materials' price index rose 2.5 percent in July, compared with the same month last year and following an increase of 0.2 pct in comparison with June 2011, the Hellenic Statistical Authority announced on Monday. ana-mpa

    The statistics service, in a report, said the building materials' cost index rose 3.2 pct on average in the 12-month period from August 2009 to July 2010, after an increase of 1.2 pct recorded in the previous 12-month period.

    [04] Shipping remittances total 5.64 bln euros

    ANA-MPA/Shipping-related remittances and related revenue reached 5.64 billion euros between January-May 2011 period, according to Bank of Greece (BoG) released on Monday to Parliament.

    The figure is considerably less, correspondingly, than the total 15.41 billion euros in shipping remittances for Greece throughout 2010.ana-mpa

    The figures were presented as part of an answer by Development & Shipping Alternate Minister Haris Pamboukis to an opposition Radical Left Coalition (Synaspismos) deputy, who requested information on the revenue generated for the Greek state by the shipping sector. The latter MP, Thodoris Dritsas, also referred to "provocative tax breaks for shipping capital".

    In a written reply, Pamboukis said a more favourable tax and legal regime since 2009 has attracted another 323 vessels onto the Greek maritime registry, with an added capacity of 20,164,239 DWTs, and an average age of vessels of six years. He said the incentives also generated a 31.1-percent increase in tonnage of Greek-flagged vessels.

    [05] Seasonal winds in Aegean ideal for windsurfers

    ANA-MPA/The gusty seasonal northern winds known as "meltemia", a weather phenomenon that mostly occurs in the late summer in the Aegean, generated near gale-force winds on Sunday, delaying ferry routes to some island destinations and kicking up waves and sand on beaches from northern Greece to Crete. For windsurfers, however, the meltemia -- or meltemi in the singular -- mean ideal conditions for the water sport.

    Greek Olympic gold and silver medallist Nikos Kaklaman akis, in the picture, rises above the waves on Sunday, Aug. 21, 2001, off the Loutsa coast in east Attica prefecture, east of Athens proper. (ANA-MPA / S. PANTZARTZI)

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