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Athens News Agency: News in English, 09-01-13

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

From: The Athens News Agency at <>


  • [01] Consumer protection NGO releases '08 figures
  • [02] Successful auction of state notes

  • [01] Consumer protection NGO releases '08 figures

    The Consumer Protection Centre (KEPKA), a non-profit NGO based in Thessaloniki received more 12,000 individual complaints by citizens in 2008, practically matching the number of complaints handled in 2007. The tax imposed on a second residence toped the list (2,855 complaints, corresponding to 23.69 percent of all grievances) followed by telecoms providers (1,438 complaints or 11.93 percent). The agency handled 1,348 complaints for defective products (11.18 percent) in 2008 -- a decline compared to 2,010 complaints in 2007 -- followed by banking products (credit cards, loans) with 1,228 complaints (10.19 percent) and guaranteed-consumer services (665 complaints or 5.52 percent). Following the centre's intervention and the settlements reached, consumers received compensations totaling roughly 234,100 euros, a 7-percent increase compared to 2007.

    [02] Successful auction of state notes

    Greece on Tuesday successfully completed an auction of short and medium-term notes, raising 2.550 billion euros from the market, the Public Debt Management Organisation said.

    In an announcement, the organisation said that the auction was oversubscribed as bids submitted totaled 13.2 billion euros, sharply up from two billion euros which was the value of the issue. The Greek state raised 1.170 billion euros from the sale of three-month notes, 780 million euros from six-month notes and 600 million euros from 12-month notes. The average weighed interest rate for the three-month note was set at 2.40 pct (from 2.61 pct the Euribor rate), 2.46 pct for the six-month rate (2.67 pct) and 2.67 pct for the 12-month note (2.74 pct the Euribor).

    The Greek state also auctioned a 52-week note, worth 500 million euros, with its interest rate set at 2.67 pct. Bids submitted totaled 3.235 billion euros, up 6.47 times the asked sum. The auction was made through the market's primary dealers and settlement date was set Friday, Jan. 16, 2009.

    Caption: An ANA-MPA file photo showing the exterior of the economy ministry in downtown Athens.

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