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Athens News Agency: News in English, 08-11-14

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

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

CONTENTS

  • [01] PM : The State guarantees pensions
  • [02] Athens Stock Exchange : Rise
  • [03] Athens Newspaper Headlines

  • [01] PM : The State guarantees pensions

    The assets of the social security Funds are guaranteed by the Greek state, as are all the pensions of all the Greeks, prime minister Costas Karamanlis reassured on Friday, adding that there was absolutely no reason for worry by any pensioner or insured party. He was speaking in parliament in reply to a question tabled by Communist Party of Greece (KKE) leader Aleka Papariga, who proposed that the state cover the losses suffered by the Funds from their participation on the stockmarket.

    Karamanlis stressed that the social security Funds today were operating in a "shielded environment", and had no reason to liquidate or sell off assets, and reiterated that "in every eventuality, the State totally guarantees all the pensions".

    Papariga called on the government for the state to purchase the stocks in the possession of the Funds, not at their current price but at their original purchase price, "to the degree that it is correct that we have a loss of at least two billion euros from the latest financial crisis."

    She reiterated the KKE's disagreement with the 'placement' of the Funds' reserves on the stockmarket, "which we call gambling".

    Karamanlis, in turn, questioned: "If we hastened at this time to a book-value restoration of the Funds, what would we gain?"

    "Is it beneficial to convert an accounting difference into a real difference? Is it of benefit at this time to put an additional burden on the Budget and restrict its margins for social and developmental policies?," the premier asked, only to reply: "Definitely not. If we were to adopt the KKE's recommendation, we would not achieve nothing but transferring to the taxpayers a cost without any benefit."

    Caption: Prime Minister Costas Karamanlis speaks in parliament on Friday 14 November 2008. ANA-MPA/PANTELIS SAITAS

    [02] Athens Stock Exchange : Rise

    Equity prices were rising on Friday on the Athens Stock Exchange (ASE), influenced by the major European markets, with the basic share price index up 4.50 percent, standing at 2,029.31 points at 12:15 p.m., and turnover at 72.3 million euros.

    Individual sector indices were moving upward across the board, with the biggest gains in Construction, up 3.78 percent; Raw Materials, up 3.32 percent; Health, up 3,14 percent; Banks, up 2.92 percent; and Telecommunications, up 2,72 percent.

    The FTSE/ASE 20 index for blue chip and heavily traded stocks was up 2.79 percent, the FTSE/ASE MID 40 index was up 2.33 percent, and the FTSE/ASE-80 small cap index was up 1.60 percent.

    Of the stocks moved, 153 were up, 19 were down, and 24 were unchanged.

    [03] Athens Newspaper Headlines

    The international credit crisis and the government-bankers head-on clash over the financial crisis dominated the headlines on Friday in Athens' newspapers.

    ADESMEFTOS TYPOS: "New revelations at parliament's fact finding commission on the Vatopedi monastery affair".

    APOGEVMATINI: "10,000 children in Greece under 5 years old have been abused".

    AVGHI: " The bank interest rates are not falling and the bank loans are not being frozen".

    AVRIANI: "The pimps (of the country's political life) and the crooks are having a field day - They dream of apostasy and toppling of the government".

    CHORA: "Zero hour for society - Banks' atmosphere reeks of fire and gunpowder".

    ELEFTHERI ORA: "The first deaths in the jails, as the Justice Ministry prepares to table draft law in parliament for the improvement of prison conditions".

    ELEFTHEROS: "Public Power Corporation (PPC) president Takis Athanassopoulos counter-attacks, 'burns' the government".

    ELEFTHEROS TYPOS: "Madhouse - As the recession approaches, the government is talking about 'benefits'".

    ELEFTHEROTYPIA: "Rockets lauched against Karamanlis in parliament's fact finding commission".

    ESTIA: "Early general elections scenarios - Ahead of the 2010 presidential election".

    ETHNOS: "State Properties Company's (KED) legal advisor sent letter to KED president stating 'I was acting on orders from above' in Vatopedi monastery land transactions with the state".

    KATHIMERINI: "Reversal of the political landscape - Public Issue opinion poll indicates that main opposition PASOK leads by 3.5 percent in popularity, but Karamanlis remains 'most suitable for prime minister'."

    LOGOS: "Government-PASOK clash toughens, prompted by the financial crisis".

    NIKI: "Witness in Vatopedi case states that monks were threatening him that if he spoke they were going to kill his children".

    RIZOSPASTIS: "The struggle must be organised to protect the people from paying for the crisis".

    TA NEA: "Burning testimony on Vatopedi case: Who am I to say no to Karamanlis, attorney says to the fact finding commission".

    TO VIMA: "Prime Minister Costas Karamanlis plans to implement a 'social-mania' recipe - The financial crisis leads the government to seek solutions from the past".

    VRADYNI: "The banks are taking things to the extremes - Head-on collision with the government continues, as the market is drying up".


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