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Athens News Agency: News in English, 10-08-03

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

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

CONTENTS

  • [01] PM hires Padoa Schioppa as advisor
  • [02] Stocks moving higher

  • [01] PM hires Padoa Schioppa as advisor

    Prime Minister George Papandreou on Tuesday announced the appointment of Italian banker and economist Tommaso Padoa Schioppa to advise the Greek government on economic issues.

    The announcement issued by the premier's office said that Padoa-Schioppa would be advising on macroeconomic, taxation, banking and debt management, giving the prime minister advice on issues of political planning relating to Greece's implementation of a programme of economic, fiscal and structural policy in the framework of the European support mechanism.

    According to the announcement, Padoa-Schioppa has a global knowledge of a complex network of institutional and economic facts and extensive experience in policy-making at the highest international level.

    Padoa-Schioppa served as Italy's Economy and Finance Minister under the Prodi government between May 2006 and May 2008 and has held highly influential positions in a number international financial institutions.

    He is currently a member of the Washington-based financial advisory body, the "Group of Thirty" and president of the Paris-based think thank "Notre Europe", while from October 2007 until April 2008 he was chairman of the International Monetary and Financial Committee, the top policy steering committee of the IMF.

    He has also served as president of the Basel Committee on Banking Supervision in 1993-1997 and was a member of the European Central Bank's six-member executive board from its foundation in 1998 until the end of May 2005.

    [02] Stocks moving higher

    Greek stocks continued moving higher in the Athens Stock Exchange on Tuesday, ignoring a negative trend in other European markets. The composite index rose 1.33 pct to end at 1,769.93 points, with turnover at 128.500 million euros.

    The Big Cap index rose 0.82 pct, the Mid Cap index was unchanged the Small Cap index eased 0.19 pct. The Telecoms (3.81 pct), Utilities (3.63 pct) and Food (3.51 pct) sectors scored the biggest percentage gains of the day, while Media (1.21 pct) and Commerce (1.10 pct) suffered losses.

    Broadly, advancers led decliners by 103 to 74 with another 43 issues unchanged. Atlantic (17.39 pct), Klonatex (14.29 pct) and Iaso (13.98 pct) were top gainers, while Vell Group (10.11 pct), Vovos (10.10 pct) and Galaxidi (7.69 pct) were top losers.


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