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Athens News Agency: News in English, 08-10-20

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

From: The Athens News Agency at <>


  • [01] PM meeting with Gordon Brown on Tues.
  • [02] Papandreou: Economy on brink
  • [03] Greece on FYROM name issue
  • [04] Current accounts deficit up
  • [05] Media strike on Wed.
  • [06] Greek stocks end 0.35% higher

  • [01] PM meeting with Gordon Brown on Tues.

    Prime Minister Costas Karamanlis arrived in London on Monday afternoon where he will hold talks with his British counterpart Gordon Brown on Tuesday. After his talks at 10 Downing St., Karamanlis will address a conference of entrepreneurs and shipowners before meeting opposition Conservative Party leader David Cameron in the afternoon.

    On Tuesday evening, the Greek premier will inaugurate the exhibition "Byzantium: 330-1453" at the Royal Academy of Arts. He will return to Athens on Tuesday night.

    [02] Papandreou: Economy on brink

    Main opposition PASOK leader George Papandreou on Monday referred to a crisis in which Greek society finds itself, speaking after a session of his party's political council meeting.

    According to Papandreou, the former foreign minister, the Greek economy is heading to a "red zone" due to "neo-conservative policies and neo-liberal insistence, lack of transparency and lawlessness of those in power."

    Papandreou said solutions to such problems will come via "socialist policies", especially defence of public good and citizens' interests.

    He also referred to what he called a "credit asphyxiation" in Greece, saying a lack of liquidity in the domestic banking system is leading thousands of SMEs and households into collapse, blaming the government for this development, both for its policies and tardiness.

    Concluding, he called for legislation to boost liquidity, but not as a "blank check".

    [03] Greece on FYROM name issue

    A newspaper report in an Athens daily on Sunday claiming that the Bush administration and the government of the Former Yugoslav Republic of Macedonia (FYROM) held secret negotiations regarding the thorny "name issue" last July in a bid to overcome Greek objections expectedly generated reactions a day later.

    "Greece has a standing position, known to all, with one voice, united, internally and abroad. We are in negotiations," Foreign Minister Dora Bakoyannis said, in reference to Sunday's article citing documents pointing to collusion between the US State Department and FYROM's leadership over the "name dispute".

    Bakoyannis reiterated that "we desire a composite name with a geographic determinant for all uses; our message is very clear," she reiterated.

    Asked about the development on Sunday evening, Greek foreign ministry spokesman George Koumoutsakos also reiterated that "Greece has clearly stated and will continue to state this to all (interested parties): there is no prospect of negotiation outside the UN framework, and, our standing position is a composite name with a clear geographical qualifier for all uses."

    The article, which appeared in the Sunday edition of "Ethnos", generated a heated same-day denial by the government in Skopje.

    [04] Current accounts deficit up

    Greece's current accounts deficit widened by 13.4 percent in the January-August period, to 21.989 billion euros, the Bank of Greece said on Monday. The central bank, in a report, attributed this development to higher deficits in the trade balance and the incomes balance during the eight month period.

    The trade deficit grew by 3.6 billion euros, reflecting a 2.641 billion euros increase in net payments on fuel imports. The trade deficit, excluding fuel and ships, showed export revenues grew 14 percent while import payments rose by 8.1 percent.

    The services surplus grew by 1.216 billion euros in the January-August period, reflecting an increase in net revenues from transportation services (1.140 billion euros), while gross revenues from transportation services (mainly commercial shipping) grew by 22.8 pct. Net proceeds from travel services grew by 242 million euros, while the incomes deficit widened by 1.068 billion euros, reflecting higher net payments on interest, dividends and profits.

    The current transfers surplus grew by 874 million euros, reflecting higher transfers from the EU to the Greek government. The financial transactions balance showed that direct investment recorded a net inflow of 1.166 billion euros, with the portfolio investment category recording a net inflow of 12.593 billion euros. The other investment category recorded a net inflow of 5.483 billion euros.

    [05] Media strike on Wed.

    The ANA-MPA will not disseminate any news items between 6 a.m. on Tuesday and 6 a.m. on Wednesday due to a nationwide strike called by journalists' unions in the country.

    [06] Greek stocks end 0.35% higher

    Greek stocks moved cautiously higher in the Athens Stock Exchange, unable to follow other European shares' rally as turnover remained low. The composite index rose 0.35 percent to end at 2,124.80 points, with turnover at 249.9 million euros, of which 6.2 million euros were block trades.

    Most sectors moved lower, with the Healthcare (6.01 pct), Insurance (4.94 pct), Constructions (3.69 pct), Chemicals (3.44 pct) and Industrial Products (3.19 pct) suffering the heaviest percentage losses of the day, while Food/Beverage (5.31 pct), Utilities (4.20 pct) and Telecommunications (3.06 pct) scored gains.

    The FTSE 20 index rose 0.27 pct, the FTSE 40 index ended 1.57 pct lower and the FTSE 80 index fell 2.29 pct. Broadly, decliners led advancers by 158 to 81 with another 37 issues unchanged.

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