The Hellenic Radio (ERA): News in English, 10-03-30

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

CONTENTS

[01] Work Stoppages in OSE, OTA-Lawyers 48-hour Strike

Timetable of train services has changed due to 3-hour rolling strikes staged by Hellenic Railways employees. Local Administration employees have staged a 4-hour work stoppage on Tuesday while lawyers nationwide abstain from duties on Tuesday and Wednesday. Finally PAME supporters occupied the Labour Ministry demanding government support to the unemployed. ADEDY is staging a protest rally in the center of Athens in the afternoon.

Hellenic Railways train services will not run from 14:00-17:00 and from 21:00- 00:00. Passengers are advised to contact with the company to check on departures.

Source: NET, NET 105.8

News item: 34930

[02] Debate on Taxation Draft-bill Continues

Examination of taxation draft-bill-which concludes on Wednesday- continues at the competent Parliament committees on Tuesday. Debate at the Parliament's Plenum opens on Thursday after Easter.

Proposals, Reactions

The Committee has invited for a hearing on Tuesday GSEE, ADEDY, SEB, GSEBEE, ESEE, TEE, Economic Chamber while the Holy Synod participates for the first time.

Finance Minister G. Papakonstantinou said the government would not waste the sacrifices of the Greek people.

The government has tabled a taxation draft-bill that would function as a mechanism for fair redistribution and location of wealth that has systematically evaded tax to present said Finance undersecretary Philipos Sahinidis during debate at the competent Parliament committees. He also said the government was open to proposals regarding proofs for source of income.

Furthermore he said the government puts an end to exemptions of all kinds as its top target is taxation in accordance to what taxpayers can really afford.

Opposition parties object to living status proofs, taxation scale for middle-sized businesses and taxation of property while PASOK deputies participating in the debate have proposed some improvements.

The ND said it would vote against the taxation draft-bill in principal while the GCP predicted the measures would become permanent. LAOS spoke of an anti -development bill while SYRIZA proposed taxation of banks' and big businesses profits.

Source: ΝΕΤ105.8 ΑNA-ΜPA

News item: 34921

[03] Priorities of the Day After

Greek Premier chairs informal ministers' council centered on the government's priorities after the Brussels accord as well as the strict implementation of the Growth and Stability Plan. Earlier, Mr. Papandreou summoned the inter-institutional body-comprised of PASOK Parliamentary Group members, government officials and party representatives- while he met with the Bank of Greece governor G. Provopoulos in the morning. Economic staff is satisfied at the markets' response to the 7-year state bond which raised 5 billion euros. In the meantime, Greece re-opened a 20-year bond issued in 2002, expecting to raise 1 billion euros , but it tapped 390 million euros. International Monetary Fund head Dominique Strauss-Kahn said IMF would set terms if Greece asks for its assistance

Strauss-Kahn: "If Greece Asks for Assistance, IMF will Set Terms

IMF to set terms for Greece aid if it asks for its assistance Strauss-Kahn

"If, and it's a big if, Greece asks for support, we will provide support for Greece as one of our members, as we do with any other member," he said IMF head Strauss-Kahn in an interview with Bloomberg.

He, however, added "any Greek package would be an IMF program decided by the IMF as it happens with each and every country. The IMF will define the conditionality, as we do with any country."

"There's no step" to be taken by the IMF at the moment. Everything is in the hands of the Greeks, not in our hand. We never go to a country and say you need a program, it's always the other way around. Until a country comes to us, we have no role, and it's the same for Greece." Strauss-Kahn said in the interview.

From Rumania, IMF chief called on EU to take immediate action to avoid second place behind the US and Asia which are faster recovering from financial crisis. "One of the lessons of the crisis in Europe is that a single currency without enough policy coordination may lead to huge imbalances," Strauss-Kahn said

Satisfied at Markets' Response for State Bond

The economic staff are satisfied at the markets' response to the 7-year state bond which raised 5 billion euros

State Debt Management Agency re-opened a 20 year bond with interest 5.9% issued in 2002 to raise 1 billion euros but had offers for 390 million. Markets remain reserved with spread basis points at 334.

In an interview with state television channel NET, Finance Minister G. Papakonstantinou predicted that interest rates would gradually go down and placed emphasis on the next government initiatives after taxation draft-bill which are social security reforms, Kallikratis Plan for local administration, electoral law and opening of closed professions.

FinMin ruled out additional measures in 2010, stressing that the target is to materialize of the government's plan and carry out big reforms.

On his part, Finance undersecretary Philipos Sahinidis said the country did not need further measures, predicting above 4% reduction in state deficit with the measures taken.

IOBE report sees marginal improvement of economic climate in the first two months in 2010 compared against the same period last year. It forecast 2.5% recession and underlines the need for acceleration of structural reforms.

Πηγή: ΝΕΤ, ΝΕΤ 105,8, ΑΠΕ-ΜΠΕ

News item: 34911

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