The Hellenic Radio (ERA): News in English, 10-06-08

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

CONTENTS

[01] Five Different Reports on Batopedi Case

Five different reports and a conclusion report including 6 points was handed to the Speaker of the House after the completion of works of the Inquiry Committee on Batopedi scandal. All political parties agree that the case needs further investigation while each party attributes responsibilities to different political figures. The report signed by the majority of deputies comprising the committee attributes political responsibility to Drys and Fotiadis and propose further investigation for Basiakos, Doukas, Kontos, Rousopoulos and Boulgarakis

Sources: ΝΕΤ-ΝΕΤ 105.8-ΑNA/ΜPA

News item: 37401

[02] Inflation up to 5.4%

Hellenic Statistics Agency report says that annual inflation rate in May rose to 5.4%, the highest level since August, 1997. The average price index in the first five months rose to 3.9% compared against forecast for 1.9% in 2010. Inflation rate in May compared to April went up 0.8% while it went up 0.2% the same period last year. Rise in inflation rate is due to increases in special consumption tax and VAT.

Rises Everywhere

The Hellenic Statistics Agency says inflation rate rose to this level due to price increases in the following groups:

1) By 16,9% from "Spirits and tobacco" group

2) By 2,4% " Clothing & Shoes", group 3) By 7,8% "Accomodation" group ( rise in heating oil price, rent, maintenance, plumbing etc)

4) By1,4% "Household Items- Services", group ( rises in prices of furniture, bed spreads, linen, dinning sets, cleaning items-counterbalanced though by reduction in prices of appliances) 5) By 2,5% "Health" group, ( doctors, dentists bills, hospital treatment) 6) By 20,3% "Transport", group (rises in price of cars, petrol, tolls, transport services)

7) By 3,7% "Communications" group ( rises in mobile phone bills part of it counterbalanced by drop in regular phone bills) 8) By 0,7% "Recreation- Cultural Activities", group (rises in books, newspaper, magazines, flowers, recreation services part of it counterbalanced by drop in prices of audiovisual equipment and computers) 9) By 3% "Education" group ( rises in fees of private and foreign language schools, private colleges 10) By 3,2% "Hotels - Coffee Shops- Restaurants" group 11) By 5,1% "Other Goods and Services"group, (rises in hairdresser's services, jewelry, car insurance)

12)1.1% reduction in the group "Nutrition and non-alcoholic beverages" (drop in prices of olive oil, yogurt, fruit, fresh vegetables. Part of it counterbalanced by rise in price of cereals, fresh beef meat, potatoes, sweets.

Price index rose to 5.3% in May from 4.7% in April 2010 compared to 0.7% rise in inflation rate between 2009 and 2008.

ΠΗΓΕΣ: ΝΕΤ-ΝΕΤ 105,8-ΑΠΕ/ΜΠΕ

News item: 37398

[03] Konstantinos Mitsotakis: "It's Up to Us to Avoid Bankruptcy

ND leader Antonis Samaras having a meeting with the board of Greek Banks' Union to discuss economic developments and make proposals for exit from the crisis. In response to relevant reporters' questions, ND honorary president Konstantinos Mitsotakis stressed that it was in our hands to avoid bankruptcy and he would certainly appear before the Inquiry Committee on the Siemens case if summoned.

Source: ΝΕΤ105.8 ΝΕΤ

News item: 37393

[04] Eurogroup Approved "Safety Net"

European region Finance Ministers, who met under the chairmanship of EU President Herman Van Rompuy in Luxembourg on Monday, reached agreement on the last details of a financial safety net for bloc members struggling to convince markets they can deal with high budget deficits and debt. The majority of Finance Ministers agree to put fines on countries even before their deficits surpass the approved ceiling of 3% of gross domestic product.

Details on sanctions still need to be ironed out. What remains to be determined is to put on fines when a country does not take into consideration other countries' warnings about deviation in its state finances or when its total debt increases rapidly.

The EU is also considering stricter monitoring of a member state total debt which could not surpass 60% of GDP and not only annual fiscal deficits.

The aim is to activate the mechanism much earlier for the countries whose debt does not drop in the anticipated period.

Eurozone Finance Ministers intend to ask Brussels to submit proposals related to form of sanctions- such as suspension of community subsidies- on countries that derail from deficit-cutting pledges. Germany insists on suspension of voting rights in decision making ministers' sessions.

EU President Herman Van Rompuy said European Finance Ministers agreed a new 525 billion dollar fund for debt stricken nations and a right to oversee national budgets.

This measure will enforce discipline to meet state budget.

Source: ΑNA-ΜPA, ΝΕΤ News item: 37382

[05] Prime-minister to Visit Libya

Prime-minister G. Papandreou will fly to Libya on Tuesday afternoon for talks with Libyan leader Muammar Gaddafi most likely on economic cooperation between the two countries. Mr. Papandreou is paying a visit to Libya in return to his Libyan counterpart visit to Athens last month but reports say that the Greek Prime-minister will discuss Libyan investments in Greece.

Specifically, Libyan investors are interested in furthering cooperation between the countries in the fields of energy, renewable sources of energy, real estate as well as construction of liquefied natural gas terminal.

Athens is interested in the payment of compensations to Hellenic Construction companies which built major projects in Libya but have not been paid due to political changes in the country.

Source: ΝΕΤ 105.8 News item: 37378

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