The Hellenic Radio (ERA): News in English, 08-10-12

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From: The Hellenic Radio (ERA) <www.ert.gr/>

CONTENTS

[01] The "16" Discuss Crucial Decisions

12 Ïêô 2008 11:28:00 (Last updated: 12 Ïêô 2008 19:03:53)

By Katerina Ioannidou

Sources: ÍÅÔ-ANA-MPA

Meetings aiming to figure out a way out of the global financial impasse are taking place one after the other, however, eyes have been fixed on Sundays emergency Eurozone summit in Paris. The member states are to work on a shared action plan to address the financial crisis, announced the French Presidency. Apart from the heads of state and governments of the Eurozone nations, including Greek Prime Minister Kostas Karamanlis, President of the European Commission Jose Manuel Barroso and head of the European Central Bank Jean-Claude Trichet will also attend the meeting. The 16 leaders will try to offer specific measures to ease tension in markets and reverse the financial crisis that tends to assume mammoth dimension. French Finance Minister Christine Lagarde assured Saturday bankers in Washington that they would not be disappointed.

Coordinated Moves

Prompted by the collapse of worlds major lenders and the first indications that the crisis has started affecting real economy, the international community vied to prove its solidarity. The International Monetary Fund offered its backing to a G7-brokered five-point action plan. According to sources, the 16 Eurozone member states are likely to guarantee inter-bank lending, inspired by the UK rescue plan.

"We are ready to intervene if needed. We have reserves," stressed Kostas Karamanlis prior to the meeting. The Greek PM further added that there were no problems with small banks in Greece, also arguing that a possible readjustment to the state budget would not be a problem.

The EU leaders are in favour of a coordinated course of action, without, however, championing the idea calling for the creation of a single fund. In the meantime, the International Monetary Fund is willing to back the nations that have been hit by the crisis, with its head Dominique Strauss-Kahn noting that the 185 IFM members have offered their support to the action plan approved by the G7 nations. French President Nicolas Sarkozy and German Chancellor Angela Merkel underlined the need for a coordinated European response to the financial crisis. In a joint press conference in Colombey-les-Deux-Eglises, he argued that France and Germany were on the same page.

USA-G7 In Search of a Last Minute Outlet

Before US President George W. Bush, the G20 group of leading economies is meeting in Washington at the headquarters of the International Monetary Fund. The G20 meeting, which came upon a US request, kicked off after 02.00 (Greek local time). The meeting means to coordinate the initiatives taken by the G7 members, which agreed Friday on an action plan with a view to restoring faith in the banking system. The G20 meeting has brought around the same table the Financial Ministers and governors of central banks of the G7 member states (Germany, Canada, the USA, France, Britain, Italy and Japan), South Africa, Saudi Arabia, Argentina, Australia, Brazil, China, South Korea, India, Indonesia, Mexico, Russia and Turkey. The 20th member is the EU, which is represented by the nations being at the helm of the European Presidency, France in this case.

Translated by Areti Christou

Related News:

Eurogroup Meeting

[02] Alogoskoufis' Statements on Financial Crisis

12 Ïêô 2008 11:09:00

By Katerina Ioannidou

Sources: ANA-MPA

The repercussions the global financial upset has brought on the Greek economy are much lesser, said Greeces Finance Minister Giorgos Alogoskoufis in a press conference in Washington, where he is attending the annual meeting of the International Monetary Fund. Alogoskoufis stressed that the domestic banking system has solid and sound foundations. He reiterated the importance of a prompt and quick response at international level with initiatives and actions to address the impact of the global crisis on real economies and restore the peoples trust. Alogoskoufis said that actions at national level were also necessary.

However, he added, they should be in coordination at an international and EU level, lest problems between nations should come into the surface. Touching on the possibility of taking new measures in Greece to deal with the crisis and boost the markets psychology, Alogoskoufis noted that although no additional measures beyond the legislation that guarantees bank deposits were required, initiatives that have been agreed at an EU level could be undertaken if necessary. The Finance Minister underlined that a revision of the 2009 draft state budget was out of the question, as the impact of the international crisis had been taken into account.

In the meantime, Governor of Bank of Greece Giorgos Provopoulos sent a stern message to those bankers who attract clients slandering other lenders. Provopoulos also noted that lenders should lay down stricter conditions when giving loans not only in Greece but also in SE Europe. Commenting on the reduced interest rates, he argued that the current monetary policy would play its long-term part to price stability. However, he added that the rise in the cost of money would inevitably exert pressures on households and businesses worldwide.

Translated by Areti Christou

[03] In Her Interview with Vima tis Kyriakis

12 Ïêô 2008 12:22:00

By Katerina Ioannidou

Sources: ANA-MPA-NET

"We [Greece] are negotiating with seriousness, good will and constructive attitude. However, it takes two to tango," Greek Foreign Affairs Minster Dora Bakoyannis said in her interview with Vima tis Kyriakis Sunday paper. "Our positions are crystal clear. We will continue the effort until we end up in an honest and decent deal," underlined Bakoyannis. Commenting on the USAs decision not to include Greece in the visa programme, the Greek Foreign Affairs Minister said, "The decision of the US administration is wrong. Greece follows a foreign policy defending its national interests, always in the framework of its international obligations as they are laid down by its partner bond, its alliances and international law. If a people honour its traditional friendships, it is us."

Touching the current political climate, Bakoyannis claimed that the ruling party of ND (New Democracy) overcame the crisis, further adding that it was time they cemented the country and the society from the global financial crisis. The Foreign Affairs Minister also noted, "Arrogance in politics never goes unpunished," further adding, "The logic of cannibalism does not constitute political self-criticism."

Commenting on scenarios speaking of a cabinet reshuffle, Bakoyannis estimated, "The government has no intention of calling snap elections."

In the meantime, a survey carried out by Public Issue on behalf of Kathimerini tis Kyriakis Sunday paper, the majority of the Greeks (53 percent) gave a negative rating to the new proposal by the UN envoy Matthew Nimetz, while the vast majority (77 percent) was in favour of one name for all uses.

In his interview with the same paper, US Assistant of State Daniel Fried called on both sides to accept the new set of ideas submitted by NImetz, underlining that FYROM should not think that it can leave isolated from Greece, which is the regions most prosperous and strongest nation.

Translated by Areti Christou

Related News:

"Need for National Front on FYROM Row"

[04] Ships Remain Stranded

Sources: ÍÅÔ, ÁNA-ÌPA

Due to 8-9 Beaufort winds blowing in the Aegean ships will remain docked until 19:00.

Meanwhile, Aegean Pearl cruiser that had departed from Patmos hit on pier 2 of Heraklion port because of the gale force winds.

None of the 731 on board was injured. As the vessel suffered a crack it will remain docked until the damage is restored.

Translated by John Crystallidis

[05] The Youth in Parliament

Sources: ÍÅÔ, ÁNA-ÌPA

350 students from Greece, Cyprus and abroad met in the Greek Parliament today to submit their proposals on Education. The students will meet in plenum at 10:00 Monday and will conclude the sessions of the Educational Programme of the Hellenic Parliament in which participating are 300 students from Greece, Cyprus and abroad. They will address the national delegation, political party leaders and government cadres.

Proposals on the Educational System

The MPs proposed the promotion of the richness of the Greek language, requesting the upgrading of building infrastructure of their schools and facilities for persons with a disability. They also proposed reforms in sports and referred to the promotion of inaccessible patterns by the Media, which boost phenomena of social pathogenesis.

Moreover, they spoke of the opportunities the youth should get and requested a constant assessment of their professors.

Present was the President of the Parliament Dimitris Sioufas, who congratulated the youth on their ideas.

Yesterday, Mr Sioufas hosted the youth an event and advised them to think and express themselves freely. The young MPs watched traditional dances from across Greece and listened to folk music.

Translated by John Crystallidis

[06] Soyuz Spacecraft Lifts Off

By Katerina Ioannidou

Sources: ÁNA-ÌPA-AFP-REUTERS

U.S. video game magnate Richard Garriott and an austronaut blasted off into space aboard a Russian Soyuz TMA-13 spacecraft from the Baikonur Cosmodrome on the Kazakh steppes just after 13:00 (10:01 Greek time) on Sunday. Mr Garriott paid US$35 million to fly into space alongside U.S. astronaut Michael Fincke and Russian cosmonaut Yury Lonchakov and will spend 10 days in space.

Translated by John Crystallidis

[07] Deadly Attack

By Katerina Ioannidou

Sources: ANA-MPA

At least five people were killed in three violent incidents between government troops and Communist rebels in southern Philippines, stated armed forces officials. Two soldiers were killed when guerillas attacked soldiers, who were aboard a military truck in Talaingod town, in Davao Del Norte province, 990 kilometres south of Manila. Major Armand Rico said the soldiers were able to repulse the rebels and inflicted an undetermined number of casualties on the guerrilla side. Rico said one policeman and one Moro Islamic Liberation Front (MILF) rebel were also killed in another clash in Kalamansig town in nearby Sultan Kudarat province. One suspected Muslim Abu Sayyaf rebel was killed and three were arrested in a shootout with police in the southern island of Jolo, 1,000 kilometres south of Manila, according to Marine Major General Juancho Sabban.

Translated by John Crystallidis

[08] Obama Opens His Lead

Sources: REUTERS

Democrat Barack Obama has opened a 6-point lead over Republican rival John McCain in the U.S. presidential race, according to a Reuters/C-SPAN/Zogby poll released on Sunday. Obama leads McCain by 49 percent to 43 percent among likely U.S. voters in the latest four-day tracking poll, his widest lead since the poll was started on Tuesday. It was up from a 4-point lead on Saturday. The poll has a margin of error of 2.9 percentage points.

Pollster John Zogby said Obamas lead was now statistically significant. "As we watch each day, it is clear that he has gone from a 2-point lead to a 3-point lead on up to 6 points," Zogby said. "It is certainly trending his way."

With just over three weeks to go before the Nov. 4 election, the poll showed Obama gaining traction among independent voters who now back him by a 21-point margin. Among women, another crucial group, the Illinois senator held a solid 12-point lead, while the two candidates were tied among male voters at 45 percent apiece. Obama has widened his lead as weeks of economic turmoil shook financial markets, causing stock markets to plunge and fueling voter concern over pocketbook issues. Young voters aged 18 to 29 backed Obama by a 20-point margin, and he also held a double-digit lead among those who reported they had registered to vote in the past six months.

McCain had a 10-point lead among white voters, while Obama, who would be the first black U.S. president, won the support of 92 percent of black voters, one of the Democratic Partys most loyal constituencies.

[09] Performed by Alexis Goudas

12 Ïêô 2008 12:44:00

By Katerina Ioannidou

Sources: ÍÅÔ

"Fantastic Tango," the song Alexis Goudas sang at the 4th Song Festival in Thessaloniki earned first place. "An Chreiastei" (If Necessary) of Antonis Kemanatzis landed second place, and "Chilia Chronia" (Thousand Years) of Konstantinos Kallias finished third. The participation of several outstanding performers added glamour to the spectacular night that attracted the peoples interest.

Translated by Areti Christou

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