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Athens News Agency: News in English, 08-11-10

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

From: The Athens News Agency at <>


  • [01] PM Karamanlis addresses EIB anniversary event

  • [01] PM Karamanlis addresses EIB anniversary event

    Prime Minister Costas Karamanlis addressed a new message to banks on their participation in the plan regarding 28 billion euros to support liquidity in the market, while speaking at an event on the European Investments Bank's 50th anniversary held at the Athens Concert Hall on Monday night. "Participation in the plan is voluntary. However, we have made it clear that no one has the right to convey the repercussions of whatever different decisions of his to loan holders," he said.

    "The state has the possibility of securing this target. The government is determined (and it has the way) not to allow attitudes at the expense of society, at the expense of collective interest," the prime minister added.

    He outlined the main aspects of the Greek plan to tackle the crisis that is aimed at decreasing inter-bank interest rates and interest rates for loans to households and businesses.

    It is also aimed at securing liquidity and the continuation of credit expansion, with emphasis being placed on the funding of small and medium-size enterprises and the granting of housing loans.

    "The Greek plan does not burden the taxpayers and it does not deduct even one euro from the state budget. On the contrary, indeed, its full implementation can produce public revenues of up to 500 million euros, which we commit ourselves to be utilised for the backing of the Social Cohesion Fund and of Public Investments," the prime minister added.

    Karamanlis underlined that the government's main aim is support for the real economy, entrepreneurship, employment and for the weaker and the average economic classes.

    The prime minister referred to the international economic crisis, saying that special situations require special decisions and strong reflexes and noted that the government has proved its response to the new requirements in practice.

    Karamanlis went on to say that the Greek economy has far greater endurance compared to many others. Despite the international crisis, both the International Monetary Fund and the European Commission have predicted, as he said, that in 2009 Greece will have growth rates reaching 2 percent and 2.5 percent of GDP respectively.

    "The Greek economy's perspective is far better compared to the Eurozone. And this is of major importance. Our immediate aim, now, is to restrict as much as possible the unfavourable repercussions of international pressure. For this purpose, we are in a state of constant vigilance," he added.

    The prime minister added that a second aim of major importance is supporting the real economy and the citizens who are in greater need.

    Lastly, Karamanlis praised the contribution of the European Investments Bank to Greece's development from 1963 (when it financed the Corinth-Patra national motorway) until today.

    CAPTION: Prime Minister Costas Karamanlis addressing an event on the European Investments Bank's 50th anniversary at the Athens Concert Hall on Monday, November 10, 2008. ANA-MPA/ANA-MPA/SYMELA PANTZARTZI.

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