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Athens Macedonian News Agency: News in English, 17-05-12

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

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

CONTENTS

  • [01] Moscovici, Sapin see solution for Greece's debt before May Eurogroup
  • [02] Greek foreign ministry to explore cooperation with Chinese think tank
  • [03] China's Shenhua and Copelouzos Group sign deal for green energy projects

  • [01] Moscovici, Sapin see solution for Greece's debt before May Eurogroup

    The ball is now in the court of Greece's European partners, who have to keep their side of the bargain regarding debt relief, French Finance Minister Michel Sapin said on Friday, in a statement from the G7 Finance Ministers' Meeting taking place in Bari.

    "They must now implement what was necessary from the first...In other words, in some way or another to relieve the debt burden on the Greek economy and its budget," Sapin said, noting that all parties in the talks had expressed a desire to reach agreement before the Eurogroup on May 22.

    European Commissioner for Economic and Financial Affairs Pierre Moscovici also expressed optimism that a deal will be found for Greece:

    "I am confident the will is there and Greece will be able to turn the page on a too-long chapter of austerity and open a new chapter of growth and investment in a framework of stability," he said. "After so many years of recession, the Greek people really need that."

    'Strong push' for comprehensive deal by May 22 from G7, say Eurozone sources

    Eurozone officials in Brussels, meanwhile, told the Athens-Macedonian News Agency that discussions on Greece held on the sidelines of the G7 meeting of finance ministers and central bankers concluded with a decision to give a "strong push" for a comprehensive agreement by May 22, when the Eurogroup will meet, that will include the debt issue.

    According to one official, all sides involved have the political will to achieve a deal and in the coming days they will discuss the language that will be used to specify the medium-term measures for Greece's debt, based on the Eurogroup decision on May 2016.

    The same official said the aim is to strike the right balance that will abide by the IMF's requirements and will not cross Berlin's red line. The next step will be the Eurogroup Working Group (EWG) meeting of 15 May, where alternative scenarios on measures to alleviate Greek debt will be discussed.

    According to other Eurozone source, during the Eurogroup of May 22, ministers are expected to discuss the implementation of the prior actions by the Greek government and decide on the completion of the second review, so that the next loan installment can be disbursed. The Eurozone countries and the IMF are expected to agree on the target for primary surpluses that Greece will have to achieve after 2018.

    Thirdly, concerning debt, the Eurogroup wants to reach a decision on concrete relief measures that will satisfy the IMF to such an extent that it will be able to announce the same day that it will ask its governing council to approve a new program for Greece.

    [02] Greek foreign ministry to explore cooperation with Chinese think tank

    Foreign Minister Nikos Kotzias discussed the possibility of cooperation between the ministry's nascent Center for Analysis and Planning and the Chinese Academy of Social Sciences (CASS), during a meeting with the academy's leadership in Beijing on Friday.

    CASS, founded in 1977, is China's biggest think tank, headed by Professor Wang Weiguang. It presides over 31 research institutes and 45 research centers with 4,200 member staff, of which 3,200 are distinguished researchers.

    Wang thanked the minister for his visit to the Academy noting the important role of the two civilizations. He said the Academy's immediate aim is the "New Idea" for building New China, an action plan with five pillars and 18 ideas to achieve the country's "rebirth" amid the new globalized political scene with a time frame of implementation "over the next two centuries."

    [03] China's Shenhua and Copelouzos Group sign deal for green energy projects

    China's state Shenhua Group Corp Ltd., the largest coal producer in the world and one of the largest energy producers of conventional and renewable sources in the country, and Copelouzos Group, one of the largest investment groups in Greece, signed on Friday an agreement for cooperation and development in the green energy sector and in the environmental upgrading of energy generating units in Greece and other countries.

    The estimated amount of the investments will total 3 billion euros, Copelouzos Group said in a press release.

    "Our Group believes in green energy and the prospects of Greece. We are confident that the cooperation with Shenhua Group will act as a catalyst for the conclusion of important investments and will promote the energy industry in Greece, with an emphasis on green energy and the environmental upgrading of energy producing units," the head of Copelouzos Group, Dimitris Copelouzos, said on the deal.


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