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

The Hellenic Radio (ERA): News in English Directory - Previous Article - Next Article

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

CONTENTS

[01] "Catastrophe Scenarios Are Groundless"

Government spokesman belied all catastrophe scenarios about the country's bankruptcy and return to the euro currency on Tuesday. He also stressed that catastrophe scenarios do not help anyone and all talks are groundless for as long as the Stabilization Program is being implemented. On his part, the president of Greek Bank Unions, Basilis Rapanos dismissed as groundless all scenarios about renegotiation of state debt and exit from euro region after his meeting with the ND party leader A. Samaras. He also guaranteed Greek people saving accounts. From Luxembourg, Finance Minister George Papakonstantinou expressed satisfaction at the course of the state budget.

Strong Reaction

The government strongly reacted to scenarios and rumours about the c ountry's bankruptcy and exit from the euro currency region.

"It is clear that catastrophe scenarios do not help anybody and it is certain that the government will not succumb. Vague rumours, groundless estimates even by analysts create an atmosphere of insecurity among people and the market which we do not tolerate. ...Catastrophe scenarios do not help anybody and only raise issues unrelated to reality", stressed government spokesman George Petalotis.

Mr. Petalotis underlined that the country can exit from the financial crisis through the Program drawn by the government and the mechanisms it has achieved to be set up in Europe. He also referred to European Commissioner Olli Rehn who said no problem was raised regarding implementation of Greece's economy purging even if there were some deviations. Finally, Mr. Petalotis ruled out any additional measures.

Bankers Dismiss Scenarios

The president of Greek Bank Unions, Basilis Rapanos dismissed as groundless all scenarios about renegotiation of state debt and exit from euro region after his meeting with the ND party leader A. Samaras. He also guaranteed Greek people saving accounts adding that there was no reason for concern.

"We assured him that the bank system remains strong", said Mr. Rapanos also underlining that there was no doubt banks had high endurances and in a difficult period they assist households and businesses.

Papakonstantinou Satisfied

From Luxembourg, Finance Minister George Papakonstantinou expressed satisfaction at the course of the state budget, stressing that it was in the "correct road".

Mr. Papakonstantinou strongly reacted to the flood of rumours about exit from euro region describing them as jokes. European experts overlooking the 3-year purging program of the Greek economy made very positive comments for the progress of the program he said, adding Greece will meet its fiscal targets.

Specifically, the ECB president Jean Claude Trichet, European Commissioner for Monetary Affairs Olli Rehn and IMF chief Dominique Strauss Khan, during the Eurogroup meeting, underlined the satisfactory implementation of the 3-year program and stressed that state budget and structural reforms are being carried out.

Reactions

"The country must not go bankrupt despite the efforts by some circles. We will exit it from the crisis provided that wisdom prevails" said LAOS and proposed bank merging as the only solution for the Greek bank system which can only afford 4 to 5 banks.

Sources: ÍÅÔ-ÍÅÔ 105.8-ÁNA/ÌPA

Related News: Inflation up to 5,4%

News item: 37406

[02] Bomb Attack in Konstantinopolis

Fifteen people have been injured after a bomb blast hit a police bus in Konstantinopolis, the Anatolia state news agency has reported. The bomb was placed by the side of the road near a hospital in the Kucukcekmece district, on the European side of the city and was set off by remote control. It is believed that the bomb attack targeted a police bus carrying officers to work in the morning rush hour. Television footage showed the police vehicle with broken windows after the bomb attack.

Most of the injured are police officers and two passers-by were transferred to hospital. There was no immediate claim of responsibility

Security measures are particularly increased in Konstantinopolis as Turkey is hosting an international summit on security attended by several state leaders among them Iranian President and Russian Prime Minister.

Source: ÁNA-ÌPA News item: 37383

The Hellenic Radio (ERA): News in English Directory - Previous Article - Next Article