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Athens News Agency: News in English, 10-01-29

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

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

CONTENTS

  • [01] Samaras with EU Commissioner Dimas
  • [02] Credit growth at 4.25% in '09

  • [01] Samaras with EU Commissioner Dimas

    Main opposition New Democracy (ND) party leader Antonis Samaras met on Friday with outgoing European Commissioner for the environment Stavros Dimas.

    In statements afterwards, Dimas told reporters that they discussed climate change and environmental issues as well as issues concerning the economy and agriculture. He also stated that his term as European Commissioner ends on Feb. 10.

    Responding to a question on the course of the country and the state of the economy, he commented that "we should work together to overcome the crisis."

    Referring to Dimas, ND spokesman Panos Panagiotopoulos referred to a major asset for the country and the party.

    As regards former prime minister and ND party leader Costas Karamanlis, he stated that the latter's integrity and character as well as his service to the country are indisputable.

    Panagiotopoulos stated that ND has nothing to fear and that an Parliamentary inquiry committee into the Siemens bribery case should also focus on the contracts signed.

    [02] Credit growth at 4.25% in '09

    Credit expansion slowed sharply in Greece last year as a result of the economic crisis, the Bank of Greece announced on Friday.

    In a monthly report, the central bank said net borrowing by enterprises and households totaled 3.768 billion euros in 2009, an annual growth rate of 4.25 pct compared with 15.9 pct in 2008. Net debt to banks totaled 253.4 billion euros (105.5 pct of GDP), up from 249.6 billion euros on 2008.

    Specifically, new loans to domestic enterprises totaled 1.182 billion euros in December 2009, for an annual growth rate of 5.1 pct, down from 18.7 pct in 2008. Credit growth slowed in the construction, other financial institutions, electricity/natural gas/water and other sectors. Credit expansion in the manufacturing sector was a negative 3.5 pct last year, from 15.8 pct in 2008, which in the commerce sector credit expansion was 4.2 pct in 2009 from 19.5 pct in 2008. In the construction sector, credit expansion in the construction sector slowed to 2.7 pct in 2009 from 35.2 pct in 2008, in the shipping sector it fell to 4.0 pct from 17.2 pct, while in the electricity-natural gas-water sector credit expansion jumped to 14.7 pct.

    Net loans to Greek households totaled 2.432 billion euros in 2009, for an annual growth rate of 3.1 pct, down from 12.8 pct in 2008.

    Householdsā debt to banks totaled 119.635 billion euros, or 50 pct of GDP. Mortgage loans grew at an annual rate of 3.7 pct last year, from 11.5 pct in 2008, while consumer loans grew by 2.0 pct from 16.0 pct over the same period, respectively.


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