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Athens News Agency: News in English, 10-06-21

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

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

CONTENTS

  • [01] PM: Greece needs 'team spirit' to exit crisis
  • [02] EU countries, sans Greece, to return to growth rates in 2011, Commission
  • [03] BoG optimistic over fiscal targets
  • [04] Papoulias receives LA.OS leader
  • [05] Stocks surge 3.38% on Mon.

  • [01] PM: Greece needs 'team spirit' to exit crisis

    NEW YORK (ANA-MPA) -- If Greece is to overcome the current crisis, it must show the same sort of team spirit that allowed Greece's national football team to win its first game in the World Cup, Prime Minister George Papandreou stressed here in an interview broadcast by Bloomberg radio.

    More importantly, he again ruled out any possibility of Greece defaulting. (ANA-MPA)

    The government is taking all measures necessary to regain the trust of markets and has succeeded in significantly reducing the country's deficit, either by reducing spending or by increasing tax revenues, he added.

    "Markets need time to see and assess the results of the effort," Papandreou said, noting that the bailout package with the Commission, European Central Bank and IMF would buy the time needed for the government to complete a programme of reforms.

    He admitted that some of the measures imposed were unfair and the discontent they caused understandable but underlined that they were necessary in order to pull the country out of the crisis. (ANA-MPA)

    [02] EU countries, sans Greece, to return to growth rates in 2011, Commission

    ANA-MPA -- To see the specific article contact the Agency's sales department for a subscription at +302106400560

    [03] BoG optimistic over fiscal targets

    (ANA-MPA) -- Bank of Greece Governor George Provopoulos on Monday expressed optimism that the government will achieve its fiscal targets and said that fiscal and structural measures taken in the framework of an EU/IMF support package will help the country return to economic growth and achieve sustainability of its public finances.

    Addressing a conference organised by the Onassis Foundation, the central banker dismissed analysts' claims that the Greek debt's dynamism was not sustainable and stressed that the Greek economy has significant growth prospects, which could be activated with the contribution of the support package. He added that the support package, agreed between the Greek government with the EU Commission, the European Central Bank and the International Monetary Fund, offered the government a unique opportunity for economic adjustment. (ANA-MPA)

    Provopoulos categorically dismissed talks of the euro (ANA-MPA) collapsing saying such rumours were irrational. He admitted, however, that markets in the EU did not have the necessary flexibility, mainly the labour market.

    [04] Papoulias receives LA.OS leader

    (ANA-MPA) -- Republic President Karolos Papoulias on Monday received Popular Orthodox Rally (LA.OS) leader George Karatzaferis.

    Speaking to the press after the meeting, Karatzaferis said "the political world should assume its share of responsibility despite its apparent inability to do so and the President should not be involved."

    Karatzaferis called on the government "to bring the labour relations agreement to the Parliament's plenary session," and lashed out at "those who are making an attempt to implicate the President in the current serious political situation." (ANA-MPA)

    He also pointed out that the "crisis creates negative developments in the national issues". (ANA-MPA)

    [05] Stocks surge 3.38% on Mon.

    (ANA-MPA) -- Greek stocks surged ahead in the first trading session of the week at the Athens Stock Exchange, following a positive trend in international markets. The composite index of the market jumped 3.38 pct to end at 1,595.21 points with turnover, however, remaining a low 81.599 million euros.

    The FTSE 20 index rose 3.32 pct, the FTSE Mid Cap index ended 2.53 pct higher and the Small Cap index jumped 3.83 pct. All sector indexes ended higher with the exception of the Media index which fell 2.94 pct. The Food (6.96 pct), Technology (5.99 pct) and Raw Materials (5.13 pct) sectors scored the biggest percentage gains of the day.

    Broadly, advancers led decliners by 168 to 25 with another 36 issues unchanged. Ikona-Ihos (20 pct), Pasal (20 pct) and Medicon (19.26 pct) were top gainers, while Akritas (8.97 pct), Haidemenos (6.67 pct) and Cardico (6.25 pct) were top losers.


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