The Hellenic Radio (ERA): News in English, 10-09-14

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

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

CONTENTS

[01] No Train & Suburban Railway Services

The Railway and Suburban railway company will not run any services on Tuesday due to a 24-hour strike by the company's employees. Employees in the telephone information center 1110 are also staging a strike so there is no answer to calls. Employees are staging a strike although the Athens Court ruled it illegal and abusive.

Sources: ÍÅÔ, ÍÅÔ 105.8, ÁNA-ÌPA News item: 40824

[02] New Meeting on Fuel Price Ceiling

The political leadership of the Development Ministry will have a new meeting with petrol station owners to discuss their request for rise in fuel price ceiling. The president of Petrol-station Owners Federation, Mihalis Kiousis said that the Development Ministry will examine the fuel price ceiling and Development undersecretary Mr. Roblias will give a response on Wednesday morning. "We will not allow profiteering at the expense of Greek people", stressed government spokesman George Petalotis , adding "strict inspections bore fruit as the majority of petrol-station owners have complied with the regulation".

The government spokesman underlined: "the government's prompt response on fuel price ceiling yesterday indicated its strong willingness to protect citizens and public interest", particularly by a minority group who create unrest or ones profiteering taking advantage from the unrest".

Tomorrow Petrol-stations Closed in Crete

In the meantime, the Federation of Petrol-station owners on the island of Crete indicates a tougher stand will close all petrol-stations on the island demanding lifting of price ceiling.

A petrol-station owner in the Athens suburb of Kallithea was arrested on charges of law violation as he was selling unleaded petrol at â¬1.55 (above fuel ceiling price).

Sources: ÍÅÔ 105.8, ÁNA/ÌPA

News item: 40845

[03] PM Asked No Deviation from Memorandum

Prime-minister G. Papandreou chaired a broad meeting at the Maximos Mansion centered on the materialization course of the memorandum. Reports say that Mr. Papandreou called Ministers not to deviate from the framework of the memorandum, whose implementation is on the right path as assessed. Referring to the recent government reshuffle, Mr. Papandreou underlined the need for better coordination and acceleration of pace of reforms. Finance Minister G. Papakonstantinou said that equalization of fuel and heating oil tax would not come in force as a redistribution mechanism has not been formulated.

On the Right Path

The materialization course of the government's commitments for the third quarter of 2010 as they derive from the referendum was the center of talks during today's meeting, chaired by Prime-minister G. Papandreou and attended by Ministers for Finance- G. Papakonstantinou, Interior-Yiannis Ragusis, Transport & Infrustructure-D. Reppas, Development-M.Hrisohoidis, Health-A. Lomverdos, Employment-L. Katselis and Environment-T. Birbili as well as deputy premier Theodoros Pagalos.

Ministers attending the meeting said that progress of actions and structural reforms scheduled to be materialized till the end were reviewed. They also discussed priorities set for the fourth quarter.

As assessed materialization of memorandum was on the right path and expressed optimism on the course of revenues in 2010, adding that January and Febeuary revenues would be counted in.

Ministers also expressed satisfaction at the interest of state bonds issued today.

Referring to equalization of fuel and heating oil tax would not come in force as a redistribution mechanism has not been formulated yet. They described it as a purging and socially fair measure if "implemented correctly".They also said that several scenarios were examined.

September was described as D. Reppas (Transport Minister) month, adding that closed profession would be opened till the end of the year.

Sources: ÍÅÔ - ÍÅÔ 105.8 - ÁNA/ÌPA

Related News: Meeting on Economy at Maximos Mansion

News item: 40843

[04] Transport Minister-Truck Owners Meeting Fruitless

The new meeting of Transport Minister Dimitris Reppas with the board of the National Federation of Truck Owners ended in deadlock. Mr. Reppas did not make any statements after the meeting but the union's representatives stated determined to continue mobilizations and called the government to find a solution to their problems. On Wednesday, Truck owners' representatives will go to the Parliament to expound their views to the competent Parliament Committee discussing the controversial draft-bill.

Meeting Ended in Deadlock - Mobilizations Continue

The new meeting of Transport Minister Dimitris Reppas with the board of the National Federation of Truck Owners ended in deadlock. Both sides insisted on their stands with Development Ministry stating that it will proceed to reforms and motorists requesting recall of draft-bill and continuation of dialogue.

Source: ÍÅÔ - ÍÅÔ 105.8 - ÁNA/ÌPA

Related News: New Meeting on Fuel Price Ceiling

News item: 40837

[05] Meeting on Economy at Maximos Mansion

Prime-minister G. Papandreou is chairing a broad Ministers' meeting at the Maximos Mansion-government headquarters- centered on the Economy, state budget and course of state revenues. Participating in the meeting are the Ministers for Finance, Infrustructure, Development, Health, Employment and Environment as well as deputy premier Theodoros Pagalos. Earlier the Prime-minister had chaired a meeting of the Strategic Planning Group held at the Interior Ministry.

The Prime-minister George Papandreou is to visit Brussels and the US in the next days in order to attend EU Summit Meeting and the UN General Assembly.

In the afternoon, Finance Minister George Papakonstantinou starts a tour of European capitals with first stop London , where he will meet with foreign investors to present the progress of the Economic Policy program.

Sources: ÍÅÔ, ÍÅÔ 105.8, ÁNA-ÌPA News item: 40834

[06] Greece Raises â¬1.17bl from New Bond Issue

Greece has raised 1.17 billion euros from the sale of 6-month state bonds. Demand was 4.54 times higher with interest rate at 4.82%, slightly higher compared to 4.65% of July's bond issue. In the meantime, Finance Minister George Papakonstantinou on Tuesday embarks on a tour of London, Paris and Frankfurt to expound the prospects of Greek economy and invite investors for sectors that reforms and privatizations are proceeding.

Interest at 4.82%

The Finance Ministry has raised 1.17 billion euros from the sale of 6-month state bonds at an interest rate of 4.82%, slightly higher compared to 4.65% of previous bond issue in July.

However, demand was 4.54 higher with total offers mounting to 4.084 billion euros while the sum requested was 900 billion euros.

The Finance Ministry will issue 3-month bonds next Tuesday.

Reactions

"Markets did not respond to the Prime-minister's appeal for trust to Greek economy. Spreads remaining high ( 10 year spreads at 900 basis points)means that despite the Rescue Mechanism borrowing cost remains particularly high, even higher than before resorting to the mechanism. High borrowing cost indicating markets' mistrust to the mixed economic policy materialized by PASOK party", said ND party deputy Hr. Staikouras.

Sources: ÍÅÔ, ÍÅÔ 105.8, ÁNA-ÌPA

Related News: Crucial Test on Greek Economy

News item: 40832

[07] Crucial Test on Greek Economy

Auction of 6-month state bonds to raise â¬900 million has become the focus of economic interest. In the meantime, the sum of 6.5 billion euros, the second installment of Euro region states rescue package, has been already deposited in the Bank of Greece. The sum of 2.5 billion euros, IMF participation in the rescue package, is expected to be deposited today. On his part Finance Minister George Papakonstantinou on Tuesday begins a three-day tour of London, Paris and Frankfurt to expound the prospects of Greek economy and invite investors for sectors that reforms and privatizations are proceeding.

In an interview with private television channel ALTER on Monday, Finance Minister George Papakonstantinou said that the government was examining a support package for low pensioners and low income earners. He also predicted return to positive growth in the second half of 2011 and categorically ruled out renegotiation of state debt .

Sources: ÍÅÔ, ÍÅÔ 105.8 News item: 40829

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