The Hellenic Radio (ERA): News in English, 09-08-06

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

CONTENTS

[01] Russia and Turkey Sign Gas Deal

Last Updated on Thursday, 06 August 2009 21:32

Russian Prime Minister Vladimir Putin and his Turkish counterpart Recep Tayyip Erdogan sealed Thursday in Ankara the agreement for the construction of the South Stream pipeline before Italian Premier Silvio Berlusconi, since the Italian energy company, ENI, is a partner of the Russian state-owned Gazprom in the South Stream project.

Ukraine Sidestepped

Russia, Europe's key gas supplier covering 30 percent of its energy needs, will have the South Stream pipeline go through Turkish waters in the Black Sea, sidestepping Ukraine.

The recent broil between Moscow and Kiev on natural gas prices almost left central European countries in the cold amidst winter time. The said agreement means to cement Russia' energy dominance in Europe.

Turkey allowed Russia to conduct ground studies and underwater research for the construction of the natural gas pipeline that will connect Russia with Europe through the Turkish waters in the Black Sea, said Erdogan.

Putin and Erdogan also signed an agreement for the construction of Turkey's first nuclear station.

Shortly before, GREENPEACE members demonstrated against the plans for its construction. A demonstrator was arrested.

Source: Reuters, ANA/MPA, NET

News item: 25553

[02] IMF Calls for Additional Measures

Last Updated on Thursday, 06 August 2009 21:14

The International Monetary Fund panel that visited Greece last month released its report. In particular, the IMF forecast a negative growth rate at -1.7 percent in 2009 and a slight recovery in 2010. As for unemployment, it is expected to stand at 9.5 percent in 2009 and to soar to 10.5 percent in 2010. Regarding the deficit, it is estimated to amount to 5.9 percent of GDP and rise to 6.7 percent in 2010. The International Monetary Fund suggested several measures, including a cut in early retirement, the abolishment of bonuses given to pensioners in Christmas and Easter, the continuation of privatizations, the revision of tax reliefs.

The Greek economy is vulnerable and does not have the luxury to suspend fiscal adjustment and structural measures, read the report of the International Monetary Fund. Although it was satisfied with the initiatives already taken, the Fund called for additional harsh measures without delay.

The Report forecasts:

- Growth will stand at -1.7% this year and at -0.4% in 2010

-The deficit will amount to 5.9% this year and to 6.7% in 2010, the public debt will soar to 108.5% and unemployment to 9.5%.

The IMF suggests a harsh package of measures:

-in the work market

-in the pension system

-in the way the public sector and the markets operate

The negative growth rate of the Greek economy reflects the downturn of global economies, said an IMF member, further adding that the global financial crisis surfaced the structural weaknesses of the Greek economy.

Reactions by KKE

âThe report of the International Monetary Fund, as well as the decisions of the EU, has revealed that the anti-labour measures taken by the governments of ND and PASOK at the expense of working rights and the pension system are nothing before the ones they are planning to impose in the near future. This is what bankers and businessmen demand. The workers and the people have to step up their own measures,â read an announcement issued by KKE (Greek Communist Party).

Source: NET, NET 105.8

News item: 25554

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