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

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

From: The Athens News Agency at <>


  • [01] FinMin addresses EIB conf'
  • [02] Athens Stock Exchange:Decline
  • [03] Kassimis at UN conference
  • [04] Athens Newspaper Headlines

  • [01] FinMin addresses EIB conf'

    The Greek government's initiatives for ameliorating the impact of the international credit crisis have already yielded the first results, as the banks operating in the country were proceeding with relief measures for the financially weaker strata, economy and finance minister George Alogoskoufis said on Tuesday, addressing a European Investment Bank (EIB) conference in Athens marking the EIB's 50th anniversary.

    Alogoskoufis spoke in detail on the measures taken by the government to confront the crisis, and particularly its plan for boosting the liquidity of the Greek economy through support of banks, noting that vigilance was required since uncertainties continued to exist in the Greek economy as well despite the fact that it has shown much greater resilience than other economies.

    Turning to the EIB's activities in Greece, Alogoskoufis noted that of particular interest was its collaboration with commercial banks active in Greece regarding the enhancement of the cash flow of SMEs.

    He also noted that four more banks -- in addition to those four are already collaborating with the EIB -- have manifested strong interest in collaboration with the EIB.

    In that way, he said, the SME's would be ensured the ability of financing with beneficial terms and lower interest rates.

    In the last five years, EIB lending in Greece has exceeded 5.4 billion euros, while it is estimated at 1.2 billion euros for 2008.

    [02] Athens Stock Exchange:Decline

    Equity prices were declining on Tuesday on the Athens Stock Exchange (ASE), influenced by the international markets, with the basic share price index down 3.11 percent, standing at 2,122.75 points at 12:15 p.m., and turnover at 48.6 million euros.

    Individual sector indices were moving downard across the board, with the only exception in Public Utilties, up 3.06 percent.

    The heaviest losses were in Banks, down 4.24 percent; Food & Beverage, down 4.22 percent; Construction, down 3.92 percent; Raw Materials, down 3.30 percent; Financial Services, down 2.91 percent; and, Health down 2.68 percent.

    The only gains were in Public Utilities, up 1.39 percent.

    The FTSE/ASE 20 index for blue chip and heavily traded stocks was down 3.60 percent, the FTSE/ASE MID 40 index was down 2.35 percent, and the FTSE/ASE-80 small cap index was down 1.00 percent.

    Of the stocks moved, 19 were up, 124 were down, and 25 were unchanged.

    [03] Kassimis at UN conference

    Deputy Foreign Minister Theodoros Kassimis will be representing Greece at the UN General Assembly's high level two-day conference on November 12-13 on the theme of "The culture of peace."

    According to an announcement by the UN, the issue "Towards a culture of peace" had been initially examined during the General Assembly's 50th and 51st sessions under the chapter of "Human Rights," while a relevant General Assembly resolution had proclaimed 2000 "An International Year for the Culture of Peace."

    U.S. President George W. Bush will be participating, among others, in the two-day conference and he is expected to make an address from the General Assembly's podium for the last time.

    Caption: ANA-MPA file photo of Deputy Foreign Minister Theodoros Kassimis.

    [04] Athens Newspaper Headlines

    The Tuesday edition of Athens' dailies at a glance

    The dismissal of ruling New Democracy MP Petros Tatoulis from the party and the Greek bankers' decision to back government's plan on the international credit crisis dominated the headlines on Tuesday in Athens' newspapers.

    ADESMEFTOS TYPOS: "Government left with 151 deputies - Petros Tatoulis dismissed from the party".

    APOGEVMATINI: "PM considered Tatoulis' statements to a Sunday newspaper as the straw that broke the camel's back".

    AVGHI: "4,800 cries from prisons - The largest prisoners' hunger strike".

    AVRIANI: "After Tatoulis' removal, Americans and 'pimps' (of the country's political life) search of a renegade to bring down the government".

    CHORA: "Who will take the largest portion of the pie - The bankers agree to enter to the government's plan, but without monitoring".

    ELEFTHEROS: "Dismissal-ultimatum to ND's parliament members".

    ELEFTHEROS TYPOS: "The government on a tightrope - Tatoulis' dismissal was a quandary for Karamanlis".

    ELEFTHEROTYPIA: "ND at stake, the parliament group is left again with a marginal majority".

    ESTIA: "Tatoulis' removal was delayed - The political damage has already been done".

    ETHNOS: "The nightmare of ND parliamentary group's 151 marginal majority returns".

    KATHIMERINI: "The government with marginal majority - The Prime Minister ousted Tatoulis".

    LOGOS: "Tatoulis left but the rebels remain -Government majority is marginal".

    NIKI: "ND hanging on a thread - Effort to govern with 151 deputies".

    RIZOSPASTIS: Communist Party of Greece leader Aleka Papariga states: The hospitals are not shops to function as enterprises.

    TA NEA: "Full speed ahead towards general elections - Countdown for Karamanlis".

    TO VIMA : "The Tatoulis enigma - Prevailing rumours and scenarios of a new party".

    VRADYNI: "End to undermining - Karamanlis' message via Tatoulis' dismissal".

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