Athens News Agency: Daily News Bulletin in English, 15-06-23

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From: The Athens News Agency at <http://www.ana.gr/>

CONTENTS

[01] Our aim is to achieve an economically viable agreement, PM Tsipras says

[02] Eurogroup welcomes new Greek proposals, says 'they are positive step in process'

[03] Greek proposals submitted, EU Commission spokesman says

[04] Greek proposals positively accepted by European leaders, according to sources

[05] Eurogroup chief: No final discussion today; Greek proposals arrived too late

[06] Deliberations must continue, said Dijsselbloem and Moscovici

[07] EU's Juncker: 'My aim is to achieve a deal by the end of the week'

[08] EU's Tusk: 'Latest Greek proposals are the first real proposals in many weeks'

[09] French President Hollande says he's pleased with 'new Greek proposals'

[10] Italy's PM Renzi says conditions are in place for deal with Greece

[11] PM Tsipras speaks with U.S. Treasury's Lew on the phone

[12] EU Commissioner Moscovici convinced Greek solution to be found on Monday

[13] We want an agreeement with Greece, EU Commissioner Moscovici says

[14] Belgian PM: 'I'm more optimistic now because there are proposals on the table'

[15] Greek President: Report of Parliament's debt committee will help Greece's path in Europe

[16] Labour Minister: No cutbacks in pensions and social insurance

[17] Social Insurance Minister expressed doubts over reaching an agreeement

[18] Pensions will be paid in time, says Social Insurance Minister Stratoulis

[19] Bank of Greece governor Stournaras to appear before parliamentary committee on June 26

[20] Potami and PASOK's comments on the latest developments

[21] Potami leader Theodorakis to have series of meetings in Brussels

[22] KKE leader on new proposal and negotiations with lenders

[23] PASOK leader Gennimata in Brussels on Tuesday

[24] FM Kotzias: 'Greece won't accept conditions deviating from EU laws and agreements in energy'

[25] ECB raises ELA for Greek banks

[26] Eurobank: BoD chairman Karamouzis' statements were misinterpreted in BBC interview

[27] Greek current account deficit up in Jan-April

[28] Greek central gov't cash deficit down in Jan-May

[29] Greek stocks rebound strongly, index up 9.0 pct

[30] Greek bond market closing report

[31] ADEX closing report

[32] Greek police detaines 30 people in 'We stay in Europe' rally in central Athens

[33] 1,161 undocumented migrants rescued on the weekend

[34] Small clashes occur in pro-Europe rally underway in central Athens

[35] Mostly fair on Tuesday

[36] The Monday edition of Athens' dailies at a glance Politics

[01] Our aim is to achieve an economically viable agreement, PM Tsipras says

"Our aim is to achieve an economically viable agreement with the view to leaving behind excessive primary surpluses, saving pensions and salaries, avoiding excessive and unreasonable increases in electricity for the middle class families, restoring normality in labor relations and at the same time promoting the necessary structural and legal reforms aimed at redistributing the burden, combating tax evasion and corruption. These are our key points for an agreement," Tsipras underlined.

[02] Eurogroup welcomes new Greek proposals, says 'they are positive step in process'

The Eurogroup said it welcomed the new proposals tabled by the Greek government on Monday, saying they constitute a positive step in the negotiations, following a meeting of eurozone finance ministers earlier in the day.

The full statement is as follows:

"The Eurogroup broadly welcomed a new version of the reform plan submitted by the Greek authorities this morning, before the Eurogroup meeting, and considered it to be a positive step in the process.

The Eurogroup asked the institutions (the European Commission, the European Central Bank and the International Monetary Fund) to start analysing the new proposal and together with the Greek authorities work out a list of prior actions with a view to reaching a final agreement on the reform plan later this week.

The Eurogroup might hold another meeting this week."

[03] Greek proposals submitted, EU Commission spokesman says

The Greek proposals have been submitted, a European Commission spokesman said on Monday, adding that they are being assessed by the institutions.

He also reiterated European Commission president Jean-Claude Juncker's statement that they constitute a good basis for discussion so that steps are taken towards the right direction.

He added that talks are now focused on the Greek proposals.

According to EU sources, EU Commissioner Pierre Moscovici, European Commission Vice President Valdis Dombrovskis and ECB president Mario Draghi will also participate in the five-member meeting of Prime Minister Alexis Tsipras, European Commission president Jean-Claude Juncker, IMF head Christine Lagarde, ECB executive board member Benoit Coeure, Eurogroup head Jeroen Dijsselbloem.

However, Eurogroup president Jeroen Dijsselbloem, upon his arrival at the five-member meeting, said that the Greek proposals have not been assessed yet.

[04] Greek proposals positively accepted by European leaders, according to sources

Greek diplomatic sources on Monday expressed their content over talks between Prime Minister Alexis Tsipras and the institutions in Brussels.

Greece's primary target is finding a sustainable solution for the Greek economy that aims to protect the low and middle incomes, as well as the social rights.

The same sources reassured that the Greek proposals were positively accepted by the European leaders, adding however, that no specific decisions from the meeting of the eurozone finance ministers are expected.

As to the context of the Greek proposals, they did not get into details as the negotiation phase has not yet been completed.

Government sources also noted that the increase of the VAT rate on islands, the special contribution on companies with more than 500,000 euro profit and a number of other issues are on the negotiation table.

Changes in the pension system, starting with the abolition of early pensions, are also under discussion.

The same sources also ruled out the possibility of banking problems as there is a good cooperation between ECB and the Bank of Greece.

[05] Eurogroup chief: No final discussion today; Greek proposals arrived too late

"It is impossible to have a final debate today," Eurogroup chief Jeroen Dijsselbloem stated upon his arrival on Monday to the Eurogroup meeting in Brussels.

Dijsselbloem said that the Eurogroup expects the evaluations of the institutions regarding the Greek proposals. He added that the Greek proposals arrived very late adding that we will see if they constitute a good basis for a further discussion.

[06] Deliberations must continue, said Dijsselbloem and Moscovici

The Greek proposals constitute a 'good basis' for discussion, however the deliberations must continue with aim the reaching of an agreement in a next Eurogroup within the following days, said Eurogroup chief Jeroen Dijsselbloem and European Commissioner for Economic Affairs Pierre Moscovici.

The two officials noted that they expect a list with additional proposals from the Greek side and afterwards with the Greek prior actions which must be approved by the Greek parliament.

Eurogroup president said that the Greek proposals arrived late and that the eurozone finance ministers wanted to have received them earlier in order to examine them. On his part, Moscovici said that the institutions and Greek authorities must start work immediately in order progress to be made until the next Eurogroup meeting that will convene within the week.

Moscovici noted that the Greek proposals constitute a "serious and overall basis for discussion but there is still work to be done."

"We welcome the Greek proposal as a positive step towards the right direction" said Dijsselbloem, "as well as an opportunity to reach an agreement within the week".

[07] EU's Juncker: 'My aim is to achieve a deal by the end of the week'

The President of the European Commission Jean-Claude Juncker said his aim is to achieve a deal by the end of the week as he arrived at the Eurozone Summit meeting in Brussels on Monday, adding that everyone is working "day and night" towards this end.

[08] EU's Tusk: 'Latest Greek proposals are the first real proposals in many weeks'

President of the European Council Donald Tusk said on Monday he called the summit meeting because time is running out for everyone.

"I have called this meeting because time is running out not only for Greece but for all of us. We have only one week before the current Greek programme expires. And this means that the 'let's wait and see' strategy must end," Tusk said after his meeting with Prime Minister Alexis Tsipras.

"The latest Greek proposals are the first real proposals in many weeks, although they obviously still need the assessment of the institutions and further work," he noted.

The EU official said it's his responsibility to do everything possible to find a solution to the problem, but also ensure that "we respect all taxpayers in all countries.

"I'm absolutely convinced that the blame game leads nowhere," he added, noting that the meeting will not deal with the technical details of the proposals but it aims at "ending the political gambling".

Tusk said that the most important thing is for leaders to take full responsibility for the political process "to avoid the worst-case scenario which means uncontrollable, chaotic Graccident."

[09] French President Hollande says he's pleased with 'new Greek proposals'

French President Francois Hollande expressed his satisfaction for the "new proposals" submitted by Greece, as he arrived at the summit meeting in Brussels on Monday evening.

He said the country has assumed its responsibilities and noted that while no "official decisions" will be taken tonight, the road is open so that these can be adopted as soon as possible.

Hollande also said some technical details remain for a comprehensive solution adding that the conditions and the spirit of responsibility is there to complete the negotiations.

[10] Italy's PM Renzi says conditions are in place for deal with Greece

Italy's Prime Minister Matteo Renzi told the country's public TV channel RAI that conditions are in place for an agreement with Greece which should in turn respect its commitments.

Renzi made his comments ahead of the summit meeting of Eurozone leaders in Brussels which is now underway and after a private meeting with Greek Prime Minister Alexis Tsipras, as Italian media reported.

He also noted that the European Union must also respect its moral commitments to Athens.

[11] PM Tsipras speaks with U.S. Treasury's Lew on the phone

The conversation as held in a very good climate, it added.

[12] EU Commissioner Moscovici convinced Greek solution to be found on Monday

Moscovici said today is a "decisive, vital" day for Greece.

"I think that the political will of everyone to preserve the euro, this common good, to ensure that this single currency is irreversible, will win the day," he added.

[13] We want an agreeement with Greece, EU Commissioner Moscovici says

Moscovici noted that today is a very crucial day for the future of Greece, for the eurozone and Europe. He added that the Greek government's proposals are a step forward and there is progress, especially on fiscal issues. He pointed, however, that there is still work to be done on the VAT rates and to the pension system.

[14] Belgian PM: 'I'm more optimistic now because there are proposals on the table'

The importance of Monday's Summit meeting of eurozone countries is to give a "strong push" so that all sides can reach an agreement before the end of the week, Belgian Prime minister Charles Michel said arriving at the Council's building.

He said finance ministers and the institutions are the ones responsible for examining Greek proposals in detail so that they can establish that the solution which will be reached will be credible, sustainable and realistic.

"I'm more optimistic now because there are proposals on the table," he said, adding that he hopes today's positive signs will be translated in the next few days in actions and solutions.

[15] Greek President: Report of Parliament's debt committee will help Greece's path in Europe

"The work and composition of the Committee aims at helping the country's smooth and sustainable path within Europe and within the euro area and not in obstructing it in any way," Pavlopoulos said.

On her side, Konstantopoulou noted that the Committee's aim is to conduct an audit of the country's debt, to decode the reasons it was created and augmented and to reveal all the parameters of its accumulation. She also explained that the report also aims at assisting the Parliament in activating and raising awareness in the European Parliament, in foreign national parliaments, in international organizations and every competent body.

Konstantopoulou also said the report will contribute in Greek and European people's right to justice and truth on debt issues.

[16] Labour Minister: No cutbacks in pensions and social insurance

Skourletis said that "we have reached a point that the European political authority must show on its part that it understands the cruciality of the moment. We have said many times that the impasse is not only for the one side but for both sides. I believe that this will lead to more mature thoughts and to a mutually beneficial agreement. Yes, common sense will prevail."

Asked on the social security and the pensions, Labour Minister said "there will be no cutbacks neither on supplementary nor on main pensions. That is, I believe, our basic stable point and consider it as a fact. At least in terms of our intentions."

Regarding the participation of the IMF, Skourletis noted "deadlines exist, but you are aware that they can be extended."

[17] Social Insurance Minister expressed doubts over reaching an agreeement

He expressed doubts over reaching of an agreement noting that "either the agreement will be compatible with the government's policy statements or there will be no agreement and with this fact the prime minister goes to the negotiations."

[18] Pensions will be paid in time, says Social Insurance Minister Stratoulis

Stratoulis said that June revenues concerning pension funds are particularly positive and pensions will be paid in time, as it is expected. "The country's pensioners are not worried because the government will be consistent now -and in the future- in its obligations towards them," he noted.

[19] Bank of Greece governor Stournaras to appear before parliamentary committee on June 26

According to the same decision, Stournaras will also testify before a transparency committee for the out-of-court settlement between the Greek government and German conglomerate Siemens during his previous capacity as finance minister in the Conservative-led coalition government of Antonis Samaras.

The central banker was asked to appear today before the parliamentary committee but sent a letter to parliament president Zoi Konstantopoulou informing her he wouldn't be able to attend before July 6, due to prior commitments and in view of the critical negotiations that are in progress. He noted however that after that date, he would be available to answer questions in parliament.

[20] Potami and PASOK's comments on the latest developments

On its part, PASOK party in an announcement said that while the negotiations are at a crucial point, the prime minister must do whatever possible for a comprehensive agreement that will safeguard Greece's remaining in the eurozone and will create positive prospects for an exit from the crisis.

PASOK also underlined that the government should use the language of the truth and not other abroad and another in the non-papers and in its ministers statements. This practice brought only delay and lack of trust against the country as well as big damage that, as it seems, the citizens will be called to pay.

[21] Potami leader Theodorakis to have series of meetings in Brussels

According to a Potami announcement, Theodorakis will meet on Wednesday morning with European Commissioner Pierre Moscovici and in the evening he is invited to a working dinner by Belgian Prime Minister Charles Michel and of the president of the Liberals Guy Verhofstadt.

On Thursday, Theodorakis is expected to meet with European Commission vice president Yyrki Katainen who is responsible for Juncker's package investments.

[22] KKE leader on new proposal and negotiations with lenders

"The Greek people's red lines are different: abolition of the memorandums and of all the implementation laws, recovery of the losses, rift with the EU, with the capital and its authority which means cancellation of the debt, socialisation, disengagement and with people in power," concluded Koutsoumbas.

[23] PASOK leader Gennimata in Brussels on Tuesday

Later, Gennimata will meet with the president of the S&D group and with the president of the European Socialist Party (PES) Sergei Stanishev.

[24] FM Kotzias: 'Greece won't accept conditions deviating from EU laws and agreements in energy'

"One cannot set as terms and conditions parameters and elements that are outside the European Law and our agreements in the field of energy," Kotzias stated.

Speaking later on the sidelines of the Council meeting, he noted the difficulties in the EU's energy diplomacy as a result of the different interests, adding that in order to succeed, "you need a good cooperation between European institutions and member-states, a cooperation which must extend on all levels of negotiations and cooperation, taking into account the new abilities of member-states on the basis of International Law and especially Maritime Law, which must be respected first and foremost by EU partners."

He also spoke of the importance of the TAP gas pipeline and the need for the European Commission "to take more action in bringing about the vertical route linking Greece-Bulgaria-Romania". He also expressed his support for the East Med pipeline and in enhancing the capacity of existing and planned LNG stations.

Financial News

[25] ECB raises ELA for Greek banks

The exact amount of the increase has not been made known yet. According to sources, the ECB promised to reassess the situation if need be.

[26] Eurobank: BoD chairman Karamouzis' statements were misinterpreted in BBC interview

"The Chairman of Eurobank's BoD Nikos Karamouzis made no reference to the possibility of Greek banks not opening tomorrow in an interview with BBC today," the bank said in a press release.

"These reports misinterpret the content of the interview which was clear, as anyone can see by watching the relevant video which accompanies the report on the BBC website," it added.

[27] Greek current account deficit up in Jan-April

The central bank, in a report, attributed this development to a significant decline in the current account incomes surplus to 307 million euros in the four-month period, from 1.77 billion euros last year.

The country's trade deficit, however, eased to 5.8 billion euros in the first four months of 2015, from 6.2 billion euros last year, as imports fell more rapidly compared with exports.

In the January-April 2015 period, the current account balance showed a deficit of 3.1 billion euros, up by 830 million year-on-year. This increase is primarily attributable to the deterioration in the primary and the secondary income accounts, and secondarily to a decline in the surplus of the services balance. By contrast, the balance of goods showed an improvement, which more than offset the decline in the surplus of the services balance, resulting in an improvement in the overall balance of goods and services.

The deficit of the balance of goods decreased by 434 million euros, on account of lower net payments for purchases of ships and a lower net oil import bill. By contrast, the deficit of the balance of goods excluding oil and ships increased. It should be noted that receipts from exports of goods excluding oil and ships registered a rise (of 1.8 pct), as did the corresponding import bill, which grew by 8.6 pct.

The surplus of the services balance shrank, as net transport and other services receipts registered a decline, which was only partly offset by a rise in net travel receipts. In the January-April 2015 period, total non-residents' arrivals increased by 39.1 pct year-on-year, but the corresponding receipts grew by a mere 14.4 pct.

In the January-April 2015 period, residents' net assets from direct investment abroad rose by 80 million, while the corresponding liabilities that represent non-residents' direct investment in Greece declined by 50 million euros. Under portfolio investment, a net decrease of 6.0 billion euros in residents' external assets is mainly due to a drop of 11.3 billion in residents' holdings of foreign bonds and Treasury bills, which was partly offset by a rise of 5.2 billion in residents' investment in shares of foreign firms. Moreover, residents' net external liabilities fell by 2.8 billion, mainly on account of a decline in non-residents' investment in Greek government bonds and Treasury bills and in shares of Greek firms.

At end-April 2015, Greece's reserve assets stood at 5.9 billion euros, compared with 5.2 billion at end-April 2014.

In April 2015, the current account balance showed a deficit of ? 955 million, down by ? 196 million year-on-year. This improvement is largely due to a decrease (of ? 175 million) in the deficit of the balance of goods and services.

[28] Greek central gov't cash deficit down in Jan-May

The central bank, in a report, said that during this period, ordinary budget revenue amounted to 16.286 billion euros, compared to 18.129 billion in the corresponding period of last year. Revenue of 55 million euros regarding Securities Markets Programme (SMP) income transfers from the Bank of Greece is excluded. Ordinary budget expenditure amounted to 18.451 billion euros, from 20.210 billion in January-May 2014. The Greek budget paid 3.0 billion euros on interest to service the public debt in the five-month period, up from 2.7 billion euros in the same period last year.

[29] Greek stocks rebound strongly, index up 9.0 pct

Bank shares were at the focus of buying activity, with the relative index soaring more than 20 pct. The composite index of the market jumped 9.0 pct to end at 749.17 points, off the day's highs of 754.99 points. The Large Cap index soared 8.63 pct and the Mid Cap index ended 7.17 pct higher. Turnover was a heavy 136.89 million euros, while the market's capitalization grew by 3.7 billion euros.

All blue chip stocks ended higher, led by Alpha Bank (23.79 pct), Piraeus Bank (21.17 pct), National Bank (20.45 pct), Eurobank (18.70 pct), Hellenic Exchanges (17.33 pct), Viohalco (15.57 pct) and Hellenic Petroleum (15.31 pct). All sectors scored gains, with the Banks (20.79 pct), Financial Services (17.37 pct), Oil (11.45 pct) and Commerce (11.34 pct) scoring the biggest percentage gains of the day.

Broadly, advancers led decliners by 93 to 24 with another 32 issues unchanged. Hatzikraniotis (27.72 pct), Alpha Bank (23.79 pct) and Piraeus Bank (21.17 pct) were top gainers, while Dromeas (16.79 pct), Progressive (15.79 pct) and Audiovisual (10 pct) were top losers.

Sector indices ended as follows:

Banks: +20.79%

Insurance: +3.33%

Financial Services: +17.37%

Industrial Products: +9.01%

Commercial: +11.34%

Real Estate: +6.89%

Personal & Household: +6.62%

Food & Beverages: +2.63%

Raw Materials: +7.36%

Construction: +5.30%

Oil: +11.45%

Chemicals: unchanged

Travel & Leisure: +1.40%

Technology: +3.87%

Telecoms: +3.33%

Utilities: +9.51%

Health: +9.45%

The stocks with the highest turnover were National Bank, Piraeus Bank, Jumbo and Alpha Bank.

Selected shares from the FTSE/ASE

Large Cap index closed in euros as follows:

Alpha Bank: 0.255

Eurobank 0.146

Public Power Corp (PPC): 4.14

Coca Cola HBC: 19.90

Hellenic Petroleum (ELPE): 4.67

National Bank of Greece: 1.06

OPAP: 7.25

OTE: 7.75

Piraeus Bank: 0.395

Titan: 20.35

Grivalia Properties: 6.71

Aegean Airlines: 5.85

[30] Greek bond market closing report

The two-year state bond yielded 23.27 pct, while the 10-year Greek bond yield fell to 12.33 pct and the German Bund yielded 0.88 pct, leaving the yield spread between the Greek and German benchmark bonds falling to 11.45 pct. There was no turnover in the market.

In interbank markets, interest rates moved lower. The 12-month rate eased to 0.164 pct from 0.166 pct, the nine-month rate fell to 0.099 pct from 0.1 pct, the six-month rate eased to 0.048 pct from 0.049 pct, the three-month rate was -0.014 pct and the one-month rate fell to -0.065 pct from -0.064 pct.

[31] ADEX closing report

Volume in futures contracts on equities totaled 92,596 contracts with investment interest focusing on Eurobank's contracts (26,921), followed by Alpha Bank (22,180), Piraeus Bank (22,975), National Bank (10,118), MIG (936), OTE (994), PPC (2,687), OPAP (1,227), Mytilineos (543), Hellenic Petroleum (362), GEK (266), Ellaktor (235), Folli Follie (250), Titan (263) and Hellenic Exchanges (648).

General News

[32] Greek police detaines 30 people in 'We stay in Europe' rally in central Athens

The scuffles erupted in front of the Greek parliament, when a group of youths waving bats threw flares towards the "We stay in Europe" rally and invaded the area in front of the Monument to the Unknown Soldier on Syntagma square.

Similar rallies are currently taking place in Greece's second largest city, Thessaloniki, and in the town of Heraklion in Crete, on the occasion of the summit meeting of Eurozone leaders currently underway in Brussels and the ongoing negotiations between Greece and its lenders. Participants are asking the government to keep Greece in the eurozone and the European Union.

"Greece must stay in Europe. Greece belongs to Europe. It's time to unite our voices in favour of our stay in the euro, in favour of our country's stay in the European family," organisers said in their appeal.

[33] 1,161 undocumented migrants rescued on the weekend

According to the port authorities, the incidents were recorded near or on the islands of Samothrace, Lesvos, Chios, Kos, Farmakonissi and Agathonissi.

[34] Small clashes occur in pro-Europe rally underway in central Athens

These groups were pushed back by riot police towards Panepistimiou Avenue.

Meanwhile, protesters of the "We stay in Europe" continue to arrive on Athens' main square, while police has blocked traffic on Amalia Avenue in front of the Greek parliament.

Weather forecast

[35] Mostly fair on Tuesday

[36] The Monday edition of Athens' dailies at a glance

EFIMERIDA TON SYNTAKTON: The mother of the summits

ELEFTHEROS TYPOS: Dramatic hours. Painful 'package' or default

ESTIA: The national interest demands an agreement

ETHNOS: (Prime Minister Alexis) Tsipras' proposals to the creditors

KONTRA NEWS: Elections so that the people approve the agreement

NAFTEMPORIKI: Day of choices for the government and the partners

TA NEA: Athens is about to sign (a deal); red lines 'collapse'

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