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Athens News Agency: News in English, 09-06-30

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

From: The Athens News Agency at <>


  • [01] PASOK spokesman on Siemens affair
  • [02] Gov't on illegal migration, PASOK charges
  • [03] Credit growth at 8.8% in May
  • [04] Stocks jump 1.99% on Tues.

  • [01] PASOK spokesman on Siemens affair

    Main opposition PASOK party spokesman George Papaconstantinou, commenting on the Siemens affair on Tuesday, repeated charges that the government has rejected the creation of a factfinding committee three times.

    "We shall not accept being the hostage of anyone, and we are adamant. We want Mr. (Mihalis) Christoforakos to come to Greece and to present evidence on anything concerning anyone, and as long as this does not happen, the political system will be on the receiving end of serious blows, and the responsibility for this will lie with the government of Mr. Karamanlis," the PASOK spokesman said.

    [02] Gov't on illegal migration, PASOK charges

    Government spokesman Evangelos Antonaros on Tuesday reiterated stressed that main opposition PASOK should "stop turning a blind eye to the government's initiatives aimed at tackling illegal migration."

    Speaking at a regular press briefing in Athens, he underlined that coordinated efforts made during the recent EU Summit in Brussels were productive, thereby contradicting the main opposition, which he said had rushed to accuse the government of being unsuccessful.

    Antonaros made the comment in response to opposition statements that the government lacks a comprehensive policy to combat illegal migration.

    [03] Credit growth at 8.8% in May

    Credit expansion fell further in May, with the credit growth rate at 8.8 pct, down from 10.2 pct in April 2009 and 15.9 pct in December 2008, the Bank of Greece announced on Tuesday.

    The central bank, in its monthly report, said credit expansion slowed both towards domestic enterprises and domestic households. The Bank of Greece has already cut its forecast for credit growth in the country to 5-6 pct this year, from an initial estimate of 10 pct.

    However, the report said net fund flow to domestic enterprises and households reached the highest level so far this year in May, with net fund flow to enterprises totaling 765 million euros for a credit growth rate of 10.2 pct in May, from 11.8 pct in April and 18.7 pct in December 2008.

    Credit expansion slowed significantly towards the manufacturing sector (5.9 pct in May, 9.0 pct in April and 15.8 pct in December 2008) and commerce (14.0 pct, 16.5 pct and 19.5 pct, respectively), while credit expansion grew towards the electricity-gas-water sector and the communications and transport sectors excluding shipping.

    Net fund flow to Greek households (mortgage and consumer loans) totaled 338 million euros in May, with credit growth slowing to 7.3 pct in May, from 8.4 pct in April and 12.8 pct in December 2008.

    Mortgage loans totaled 186 million euros in May, for credit growth rate of 6.9 pct, from 7.8 pct in April and 11.5 pct in December 2008, while consumer loans totaled 109 million euros for a 12-month growth rate of 8.4 pct in May, 9.8 pct in April and 16.0 pct in December.

    [04] Stocks jump 1.99% on Tues.

    Greek stocks jumped 1.99 pct at the Athens Stock Exchange on Tuesday, pushing the composite index of the market above the 2,200 level, ending at 2,209.99 points. Turnover was an improved 193.1 million euros, of which 7.8 million euros were block trades.

    Most sectors moved upwards, with the Food/Beverage (4.59 pct), Financial Services (3.39 pct) and Industrial Products (2.90 pct) scoring the biggest percentage gains of the day, while Health (1.66 pct), Telecommunications (1.62 pct) and Media (1.29 pct) suffered losses.

    The FTSE 20 index rose 2.31 pct, the FTSE 40 index ended 0.51 pct higher and the FTSE 80 index rose 0.39 pct. Broadly, advancers led decliners by 115 to 105 with another 50 issues unchanged.

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