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Athens News Agency: News in English, 08-10-22

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

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

CONTENTS

  • [01] Karamanlis discusses global crisis with Brown
  • [02] Draft bill to raise banks' supervisory capital level
  • [03] Gov't on closing of Thessaloniki prefectural offices

  • [01] Karamanlis discusses global crisis with Brown

    The Inner Cabinet chaired by Prime Minister Costas Karamanlis will convene on Wednesday to discuss Interior Ministry's issues. On Tuesday, the impact of the global financial crisis on Europe and European economies were at the focus of talks between Prime Minister Costas Karamanlis and his British counterpart Gordon Brown in London.

    Speaking to reporters after the meeting, Karamanlis praised Brown's contribution to the common effort for amelioration of the crisis. He said the primary target of the efforts was to minimize the consequences of the international financial crisis on the lives of the citizens and on the real economy, and particularly on the financially weaker brackets.

    "We agreed that the efforts of all of us are and must continue to be concerted, at both European and global level, so as to restore confidence in the credit system and a climate of calm on the markets," Karamanlis said.

    The two prime ministers further discussed bilateral relations, the prospects of the Lisbon Treaty, the situation in the Balkans, and developments in the Cyprus issue.

    Karamanlis also took the opportunity to present Greece's standing demand for the return of the Parthenon Marbles, ahead of completion of the state-of-the art New Acropolis Museum.

    The Greek prime minister also delivered an address on the international crisis and the Greek economy at a Traveler's Club event on Tuesday, to an audience mainly comprised of British financial and university officials.

    Following a brief analysis of the causes of the international crisis, Karamanlis highlighted the initiatives taken initially by the eurozone leaders and afterwards by the European Council, and the action framework for protection of the banking system, adding that those decisions have already had positive impact on the money markets.

    He stressed that the security of the credit system was only a "functional target", with the underlying ultimate goal being protection of the real economy, boosting of investments and jobs, the growth rate, and incomes levels.

    In an extensive reference to the Greek "reality", Karamanlis stressed that "the Greek credit system is absolutely healthy and credit-worthy, with nearly the entire total of loans covered by the deposits".

    The Greek government, he explained, has entered into effect a structured plan of action that includes guarantees of up to 15 billion euros for those banks (operating in Greece) that may require it.

    Karamanlis reiterated the political commitment for state guarantee of all deposits in all the banks operating in Greece.

    He said that the recent crisis had proved the importance of the structural reforms that have taken place in Greece in recent years since, due to those reforms, the Greek economy manifested strong resilience and flexibility.

    The premier also spoke of the performance of the Greek economy and its prospects, stressing that the growth rate had been running at 3.5 percent in the first half of the year and tourism was continuing its upward course, while unemployment was posting a consistent decline.

    He also stressed the government's energy policy and the conversion of the country into an international energy hub, while also underlining the dynamism and potential of the Greek tourism industry.

    Karamanlis further made special reference to Greek merchant shipping, "for which our country is proud".

    The premier ended by saying that Greece was constantly enhancing its attraction and extroversion, adding that, in the framework of that effort, the opportunities opening up for dynamic investments were significant, and concerned everyone.

    While in the British capital, Karamanlis also inaugurated a groundbreaking exhibition at the London Royal Academy of Arts, entitled "Byzantium 330-1453" incorporating over 300 objects, many of which have never before been displayed in public before. The exhibition, co-sponsored by the JF Costopulos Foundation, the AG Leventis Foundation and the Stavros Niarchos Foundation, was organized in collaboration with the Benaki Museum of Athens, and includes icons, detached wall paintings, micro-mosaics, ivories, enamels and gold and silver metalwork.

    Caption: Greek Prime Minister Costas Karamanlis (R) meets with his British counterpart Gordon Brown at Downing Street in London, 21 October 2008. ANA-MPA/EPA/ANDY RAIN

    [02] Draft bill to raise banks' supervisory capital level

    Economy and Finance Minister George Alogoskoufis on Wednesday announced that the Greek government will table a draft law in Parliament over the next few days raising the level of supervisory capital of Greek banks. Speaking in Parliament during a debate over a draft legislation envisaging additional protection for domestic borrowers, Alogoskoufis said the bill will help banks to better resist any new turmoil in the European and international banking system, as well as to facilitate their access to new liquidity.

    [03] Gov't on closing of Thessaloniki prefectural offices

    Government spokesman Evangelos Antonaros on Wednesday reiterated the government's support towards local administrations, when asked to comment on the decision by the Thessaloniki Prefect to shutdown the prefecture's offices. Prefect Panagiotis Psomiadis said he proceeded with the symbolic move in demand of more state funds for school buildings.
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