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Athens News Agency: News in English, 09-08-19

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

From: The Athens News Agency at <>


  • [01] Gov't eyes slashing of redtape
  • [02] Country missing opportunities, Papandreou
  • [03] Stocks edge up on Wed.

  • [01] Gov't eyes slashing of redtape

    An inner cabinet meeting was convened on Wednesday to focus on issues related to the development ministry, with Prime Minister Costas Karamanlis again chairing the session at his Maximos Mansion office.

    During the two-hour meeting, Development Minister Costis Hatzidakis said the ministry will soon table two draft bills aimed at boosting competitiveness and entrepreneurship in the country. Specifically, the first draft bill modernises and updates the process and conditions for establishing new business parks while the second simplifies the process for establishing a new company.

    Hatzidakis said it currently takes a whopping 14 to 18 individual steps to establish a new business in Greece, with the target being only four steps.

    [02] Country missing opportunities, Papandreou

    Main opposition PASOK leader George Papandreou, addressing a party meeting on the economy on Wednesday, charged that the country is currently losing out on "major opportunities and time", adding that "our obligation is to make the best preparation possible to cover this lost time after the next elections."

    Papandreou opined that the government "is proceeding with no target as to where it wishes to lead the country. It is absent from the major international issues, from our relations with Turkey, up to the major issue of climatic change."

    The former foreign minister, in indirectly airing his demand for early elections, charged that "for as long as the scene does not clear up the entire political system will be dragged along. We shall not allow this.

    He stressed that the state of the economy is worsening continuously and that "we are experiencing a monetary collapse and a huge production deficit."

    Lastly, he announced that at next month's Thessaloniki International Fair (TIF), PASOK will present a "road map" for economic recovery and the country's new growth potential, as he said.

    "We are aware of the difficulties and the real economic and monetary situation. We are ready with specific proposals, planning and cadres for the great changes that the country needs," he concluded.

    [03] Stocks edge up on Wed.

    Stocks prices finally rallied on Wednesday at the Athens Stock Exchange, with the composite index of the market closing up 0.73 pct to end at 2,350.31 points. Turnover was a very low 109.5 million euros, of which only 2.9 million were block trades.

    Sector indices moved mostly upwards with Foods-Beverages (2.63 pct), Financial Services (1.79 pct) and Banks (1.54 pct) posting the biggest percentage gains of the day. Telecoms (1.57 pct) was the biggest sector loser of the day.

    The FTSE 20 index was up by 1.03 pct up, the FTSE 40 index lost an extremely marginal 0.01 pct and the FTSE 80 picked up 0.40 percent.

    From the stocks moved, 96 ended up, 95 declined and 61 remained unchanged.

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