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Athens News Agency: News in English, 08-10-08

Athens News Agency: News in English Directory - Previous Article - Next Article

From: The Athens News Agency at <>


  • [01] Inner cabinet discusses the economy
  • [02] Provopoulos: Banking system safe

  • [01] Inner cabinet discusses the economy

    The inner cabinet convened on Wednesday, chaired by Prime Minister Costas Karamanlis, and focused on economic issues. After the meeting, Development Minister Christos Folias stated that "intensified efforts, increased controls and stricter measures" will be the response to price-gougers and speculators, adding that the heating oil price will be announced shortly.

    On Tuesday, the premier urged the leadership of Greece's development ministry to quickly push through legislation designed to regulate the operation and supervision of markets and prices, after an unannounced visit to the ministry earlier that day.

    "We must all go above and beyond ourselves to deal with the problems," he stressed in statements to reporters.

    Karamanlis said he had asked the ministry to fast-track draft bills setting up a body to supervise markets and granting more powers to the Competition Commission.

    He also called for the maximum frequency of market inspections and the prosecution of certified offences involving price-gouging to the full extent of the law. Earlier, Prime Minister Costas Karamanlis had conferred separately with Foreign Minister Dora Bakoyannis in view of the meetings that the UN envoy for the FYROM name issue Matthew Nimetz will have in New York with the negotiators from Athens and Skopje. Caption: ANA-MPA file photograph of the prime minister's offices at Maximos Mansion where inner cabinet meetings are held.

    [02] Provopoulos: Banking system safe

    Bank depositors in Greece received yet another reassurance by Bank of Greece Governor George Provopoulos on Wednesday, who stressed that the banking system in Greece is safe and stable and will weather the turbulence caused by the international financial crisis. Submitting the Bank of Greece 2008 Interim Report to Parliament President Dimitris Sioufas, the Bank of Greece governor stressed that both the Greek economy and banking system are in a comparatively better position despite the strong turbulence caused by the international financial crisis. Provopoulos stressed that repercussions will not be avoided pointing out, however, that the Greek banking system managed to stand on its feet because it was not exposed to risky financial products and is not overly dependent on capital markets. "Profits will be affected but not to an extent that could cause concern," Provopoulos said, adding that "the conclusion is that bank depositors should rest assured that their money is safe." "The assurance that the Greek banking system is safe and stable is very important," Parliament President Sioufas stated, adding that it concerns the general public, private citizens and businesses. Caption: Bank of Greece governor George Provopoulos assured Greeks that the their savings deposits were safe during a press conference held on Wednesday, after presenting the central bank's interim report on the Greek economy to Parliament President Dimitris Sioufas.
    Athens News Agency: News in English Directory - Previous Article - Next Article
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