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Athens News Agency: News in English, 10-08-12

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

From: The Athens News Agency at <>


  • [01] PM stresses need for 'Fourth Way'
  • [02] Summer sales turnover down
  • [03] Forced landing on Rhodes
  • [04] us driver arrested

  • [01] PM stresses need for 'Fourth Way'

    -PA/Prime minister George Papandreou stressed the need for a "Fourth Way" that will "ensure that the markets have the freedom to innovate and grow" but, above all, will also guarantee that "democracy is never subordinated to markets", in an interview with the US newspaper Christian Science Monitor.

    The premier also explained that "Greece's debt has come from years of economic mismanagement - wasteful government spending, an inefficient public sector, chronic tax evasion", noting that "many other developed countries have unsustainable levels of debt that will require tough decisions in the short term to guarantee viability in the long term".

    "But cuts alone will not be enough to safeguard the global economy. We also need measures to stimulate growth and create jobs," he said, stressing: "Instead of collective austerity, we need global responsibility."

    Papandreou also warned that "there is a real danger in global austerity", because it could dampen global demand during a very fragile recovery. Our goal should not be to bounce from one bubble to another, but rather to move the global economy towards sustainable and equitable growth. We must ensure that those least responsible for causing this crisis do not pay the highest price.

    The premier further said that "Greece strongly supports further European integration and unity", stressing that "greater fiscal coordination is an essential part of this process".

    "We must ensure that European institutions serve the interests of Europe's citizens - not of financial markets," he said.

    [02] Summer sales turnover down

    ANA-MPA/Turnover during the summer sales has plunged this year, despite discounts reaching up to 80 percent, due to the economic crisis, and market factors said that this was only to be expected.

    The economic crisis and the prevailing climate of insecurity makes the consumer extremely careful and hesitant, according to market representatives.

    As a result, in many parts of the country a significant fall in turnover has been recorded that reaches 25 percent, although in some parts of the country there have been signs of improvement.

    To date, according to estimations by local chambers of commerce, the biggest declines have been recorded in Attica prefecture and in Thessaloniki, while the biggest rises in shops' turnover are on Crete, especially in Heraklion, and in Patras, northwestern Peloponnese.

    [03] Forced landing on Rhodes

    ANA-MPA/n aircraft owned by a German company on Thursday made a forced landing at 10:15 a.m. at the airport on the island of Rhodes. The airplane was on a charter flight from Berlin to Rhodes and, while approaching the airport for landing, the pilot detected a failure in the aircraft's electrical system.

    The airport was placed on alert, and the plane landed safely. Rhodes Fire Brigade assisted the 112 passengers and two babies who were on board to evacuate the aircraft.

    Rhodes airport resumed normal operation at 10:55.

    [04] us driver arrested

    A 41-year-old municipal employee was arrested on Alonnissos island, Sporades complex, northern Aegean, charged with embezzlement.

    The detainee was working as a driver of the Public Benefit Transport Enterprise of Alonnissos and transported tourists visiting the island.

    According to police the employee is charged with issuing fake tickets, which he procured himself and which were different from those supplied to him by the Enterprise, but collecting the normal price.

    In this way, the man presented lower to nearly zero revenues to the Enterprise from the bus routes he conducted.

    A 44-year-old Albanian woman implicated in the scam has also been arrested.

    The case was discovered in the framework of an internal audit by the municipal enterprise.

    A preliminary investigation is being conducted by police.

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