Athens Macedonian News Agency: News in English, 12-12-18

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

CONTENTS

[01] PM: Greece entering new period of stability and growth

[02] Greece raises 1.3 bln euros from T-bill auction

[01] PM: Greece entering new period of stability and growth

He said after the two-hour meeting that 1.1 billion euro would be credited within the day to the bank accounts of farmers and animal breeders, which is the outstanding second half of their reinforcement, stressing his determination for "payments on time so that these will not be news but the rule of thumb".amna

Samaras noted the government's determination to put an end to subsidies to the state-dependant trade unionism and for the money of the Agricultural Insurance Organisation (ELGA) would be channeled to large (more than 3 children) farming families. He added that the Ministry has been instructed to accelerate the procedures for business investments in agricultural products' standardisation, processing and exports, noting that he has been informed that more than 300 businesses are currently being set up or expanding, which will generate more jobs and spur growth.amna

"We must be present in the battle in Europe for a new Common Agricultural Policy (CAP), for more funds, and with emphasis on the young farmers," he said.

Samaras said he had a fruitful meeting with the ministry leadership, adding that the payment of the 1.1 billion euro reinforcement will be a significant injection of liquidity to the farmers in the current difficult economic conditions.amna

He congratulated the ministry leadership for its many reform initiatives such as the voluntary insurance with the ELGA that will cover damages currently not insured, such as from 'biological phenomena'.

The premier underlined the government's determination to put an end to the subsidies to a state-dependent agricultural trade unionism so that the money saved from the ELGA may be returned as a benefit to large farming and animal breeding families, where they it truly be of use.amna

"Every crisis hides opportunities, and opportunities for investments in the agricultural sector are immense. We have excellent quality products and protected origin names that deservedly earn their place in the international markets, from Greek olive oil to feta cheese, to wines and fruit," he said.

Samaras further said that procedures have also been set in motion to take advantage of geothermal energy in Greece, in which the country has a major comparative advantage.

[02] Greece raises 1.3 bln euros from T-bill auction

The Public Debt Management Organization, in a statement, said that the average interest rate of the issue was set at 4.11 percent, down from 4.20 percent in the previous auction of same T-bills on November 13.

The issue was 1.73 times oversubscribed, down from 1.98 times in the previous auction.

The auction took place via Primary Dealers, and the settlement date is Friday, December 21.amna

Offers up to the asked sum of one billion euro were accepted, as well as non-competitive offers of 300 million euros.amna

Under the rules of operation of the primary dealers market, additional non-competitive offers of up to 30 percent of the asked sum may be submitted until noon on Thursday, 20 December.

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