Athens News Agency: News in English, 08-09-22

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

CONTENTS

[01] Gov't, BoG weigh credit crisis effect on households

[01] Gov't, BoG weigh credit crisis effect on households

Karamanlis stressed that the government's policy, in the present negative international conjuncture, focused on ensuring that the international crisis would have the smallest possible repercussions on Greek citizens, particularly the economically weaker strata.

The premier conceded the inevitability of impact on the Greek economy from the international crisis, due to the rise in interest rates and higher inflation, developments which affect households.

He pointed out, however, that the effects of the crisis in Greece, with respect to the real economy but also in the credit sector, were much less acute than in the other countries.

Karamanlis added, however, that there should be no complacency despite the growth rate in the first half of the year, which he noted was more than double that of the eurozone, given that the fiscal margins in Greece were much smaller due to the high state debt and high fiscal deficits, which have for decades burdened the economy and the Greek taxpayers.

CAPTION: Prime Minister Costas Karamanlis in statements following the meeting on Monday, September 22, 2008. ANA-MPA/M. Marogianni.

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