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Athens News Agency: News in English, 09-06-09

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

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

CONTENTS

  • [01] Papandreou on PASOK results
  • [02] FinMin: Fiscal measures this month

  • [01] Papandreou on PASOK results

    "PASOK is convinced that it has a reliable proposal that can get the country out of the crisis and ensure a well-governed state," party leader George Papandreou stressed on Tuesday, addressing a meeting of the main opposition's economic council, which he chaired.

    He described a stance adopted by ruling New Democracy (ND) party vis-à-vis Euro-election results as "arrogant", underlining that "nothing will change", while stressing that "the only option available to the prime minister is to resort to superficial publicity stunts".

    He also attributed his party's victory in Sunday's European Parliament elections to proposals it presented and hard work, adding that PASOK linked the economic situation with the way the state operates, and what he charged were lawlessness and impunity.

    Referring to lackluster Euro-parliament results of Social Democrat political formations in Europe, he spoke of "European awkwardness, both institutional and political, toward developments."

    [02] FinMin: Fiscal measures this month

    BRUSSELS (ANA-MPA / M. Spinthourakis) -- The Greek government will unveil a package of measures this month aimed at cutting the country‚s fiscal deficit to 3.7 pct of GDP this year, Economy and Finance Minister Yiannis Papathanassiou here said on Tuesday.

    Speaking to reporters after a closely watched ECOFIN meeting in Brussels, the Greek minister said the government, after making a comprehensive estimate of trends in state proceeds and of the inflation rate, would reach decisions necessary for achieving its fiscal goals for the year.

    Papathanassiou said the government will closely focus on public finances next year, with the aim of cutting the fiscal deficit to 3.0 pct through "structural measures", while he predicted that the European economy would recover in mid-2010.

    The Greek minister said the fact that practically all European countries have started looking to the "day after" the current economic recession is positive, especially on the need to cut state deficits resulting from the crisis. He noted that public deficits were still hefty in Europe and stressed that, according to EU Monetary Commissioner Joaquin Almunia, 12 Eurozone member-states will be included in excessive deficit procedures by next year.

    Commenting on Greece, Papathanassiou said state handouts to deal with the financial crisis were below other EU levels and that the challenge was to boost economic competitiveness so that the country can exit the crisis rapidly.

    He added that the European Commission has appreciated Athens' efforts towards fiscal consolidation.


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