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Athens News Agency: News in English, 10-06-11

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

From: The Athens News Agency at <>


  • [01] Greek PM meets Austrian Chancellor
  • [02] ND leader meets with GSEBE, ESEE
  • [03] Europa Nostra Awards ceremony in Istanbul
  • [04] Greek bond market closing report
  • [05] Turkish Ed. Minister Cubukcu at Patriarchate-run school
  • [06] Felony charges filed in OTE procurement case against CEO
  • [07] FinMin: Econ plan going well
  • [08] Stocks end moderately higher

  • [01] Greek PM meets Austrian Chancellor

    Greek Prime Minister George Papandreou had a meeting in Vienna on Friday with Austrian Chancellor Werner Faymann, during a working visit to Austria. After the meeting, Papandreou said that Greece and Austria will undertaken coordinated action and joint initiatives for the regulation of the financial system and Europe's growth.

    Papandreou briefed Faymann on the measures taken by Greece and stressed that his government was dedicated to restructure the Greek economy with social cohesion, social justice and growth.

    Greece is recovery its credibility worldwide, he added.

    Later on Friday, the Greek premier is due to be the main speaker at the Institute of International Finance (IIF) dinner taking place in Vienna. Papandreou and Hungarian Prime Minister Viktor Orban are the only heads of state attending this conference, which includes representatives of international financial institutions, banks and companies.

    Papandreou was also received by Austrian President Heinz Fischer.

    CAPTION: Greek Premier Papandreou (L) and Austrian Chancellor Faymann (R) during their meeting in Vienna on Friday. (Photo: EPA)

    [02] ND leader meets with GSEBE, ESEE

    Main opposition New Democracy (ND) leader Antonis Samaras met consecutively on Friday with the presidiums of two of the country's employer organisations, the General Confederation of Professional Craftsmen and Merchants (GSEBE) and the National Confederation of Greek Commerce (ESEE).

    Afterwards, he was due to chair a meeting of ND's inter-secretariat coordinating organ.

    Speaking to reporters after the meeting with Samaras, GSEBE president Dimitris Assimakopoulos said that he pointed out a number of matters to the ND leader and also ways in which the government and political parties can help reverse the "destructive psychology" in businesses and consumers.

    He warned that the combination of the deficits and declines in turnover and investments 'will lead us to chaos and to the edge of the precipice", stressing that reversal of the negative psychology is the starting point for solving the problems.

    Speaking after his own meeting with Samaras, ESEE president Vassilis Korkidis said he presented proposals for a new string of updated "market-savvy, not theoretical" economic measures that would be effective, adding that "we must all work together in order to survive".

    ND shadow deputy economy minister Christos Staikouras, who was also present at the meetings, said that there can be no recovery of the economy with businesses going bankrupt and unemployed citizens, adding that the government's mix of economic measures was essentially leading nowhere, was socially unfair, and financially inefficient and lacking because measures to boost the market are missing.

    [03] Europa Nostra Awards ceremony in Istanbul

    ISTANBUL (ANA-MPA / A. Kourkoulas) -- The European Union Prizes for Cultural Heritage - EUROPA NOSTRA Awards 2010 -- were presented by Cyprus' European Commissioner Androulla Vassiliou to 29 winners from 15 countries, during a ceremony here held at the 6th century Basilica of Hagia Irini.

    Two of the 16 prizes awarded in the architectural heritage category went to Greece; to Lila Marangou for the reconstruction of the Hagia Triada Tower on the Aegean island of Amorgos and to Christos Zerefos for the restoration of the Athens Observatory.

    The awards are given for outstanding examples of conservation projects and research in the sector of cultural heritage, while they also highlight exceptionally dedicated service to heritage conservation by individuals and groups.

    [04] Greek bond market closing report

    (ANA-MPA) -- Turnover in the Greek electronic secondary bond market rose slightly to 66 million euros on Friday, of which 51 million euros were sell orders and the remaining 15 million euros were buy orders. The three-year benchmark bond was the most heavily traded security with a turnover of 30 million euros. The yield spread between the 10-year Greek and German benchmark bonds widened to 566 basis points, from 555 bps on Thursday, with the Greek bond yielding 8.24 pct and the German Bund 2.58 pct.

    In interbank markets, interest rates moved lower. The 12-month rate was 1.26 pct, the six-month rate 0.97 pct, the three-month 0.73 pct and the one-month rate 0.43 pct.

    [05] Turkish Ed. Minister Cubukcu at Patriarchate-run school

    ISTANBUL (ANA-MPA) -- Turkish Education Minister Nimet Cubukcu on Friday participated at an event held here at the Ecumenical Patriarchate's Great School of the Nation (Megali Scholi tou Genous), the second time over the past few years that the ministry's top political leadership has been present at the minority school's events.

    [06] Felony charges filed in OTE procurement case against CEO

    The Hellenic Telecommunications Organisation (OTE) President and CEO Panagis Vourloumis and another OTE executive were referred to a three-judge appellate felony court on Friday on breach of faith charges stemming from alleged over-charging on contracts signed by the telephony utility between 2003 and 2007.

    The "lion's share" of the contracts involve purchases from German multinational Siemens and the biggest telecoms equipment producer in Greece, Intracom.

    The director of OTE's technical networks division, Giorgos Ioannidis, was also indicted, while seven members of OTE's board of directors have been cleared of wrong-doing.

    In a later statement by the listed company, OTE expressed certainty that the charges will be proved groundless.

    The statement underlined that "OTE executives, who made the relevant decision, acted solely for the benefit of the company, managing in the best possible way the situation they inherited."

    [07] FinMin: Econ plan going well

    (ANA-MPA) -- Finance minister George Papaconstantinou said on Friday that the second and third tranches of the EU-IMF support mechanism loans for the Greek economy are ensured.

    Speaking in parliament in reply to a current question tabled by Popular Orthodox Rally (LAOS) leader George Karatzaferis, the minister stressed that the sum of 110 billion euros, the first instalment of which was received by Greece last month, is an inalienable part of the EU support for the Greek economy.

    Papaconstantinou, who outlined the government's actions through the end of June, said that a European Commission, European Central Bank (ECB) and International Monetary Fund (IMF) team is due to arrive in Athens on Monday for the first quarterly progress report on the jointly-agreed three-year economic restructuring program so as to enable disbursement of the second tranche of the loan in September.

    [08] Stocks end moderately higher

    Stocks ended moderately higher on the last trading session of the week at the Athens Stock Exchange, with the composite index of the market rising 0.52 pct to end at 1,484.13 points. Turnover was a low 91.955 million euros. The FTSE 20 index rose 0.95 pct, the FTSE 40 index ended 0.79 pct higher and the FTSE 80 index rose 0.89 pct.

    The Travel (3.82 pct0 and Banks (2.35 pct) sectors scored the biggest percentage gains of the day, while the Food (2.67 pct) and Financial Services (2.10 pct) suffered losses. Broadly, advancers led decliners by 102 to 59 with another 62 issues unchanged.

    Viokarpet (19.4 pct), Edrasi (12.5 pct) and Compucon (11.11 pct) were top gainers, while Klonatex (12.5 pct), Attikat (11.76 pct) and Titan (9.92 pct) were top losers.

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