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Athens News Agency: News in English, 10-08-24

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

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

CONTENTS

  • [01] US 'Dream Team' in Athens
  • [02] Rehn: Greece will overcome crisis
  • [03] AEK venue for Dundee game
  • [04] Stocks down 3.42% on Tues.

  • [01] US 'Dream Team' in Athens

    (ANA-MPA) -- Los Angeles Lakers star Lamar Odom signs autographs on Tuesday in front of the Hellenic Parliament and the Tomb of the Unknown Soldier in Athens' central Syntagma Square.

    Odom along with the rest of the US "Dream Team" players visited the Greek capital's main square, where they were greeted by teen players from Panathinaikos Athens coach Zeljko Obradovic's youth academies and by officials from the tourism ministry and the Greek basketball federation.

    Players signed numerous autographs for gathered tourists at the popular site and were also photographed with members of the elite Evzone presidential guard at the Tomb of the Unknown Soldier. ANA-MPA / K. MAVRONA.

    [02] Rehn: Greece will overcome crisis

    (ANA-MPA) -- EU Economic & Monetary Olli Rehn appeared confident on Tuesday that Greece will overcome its current economic and fiscal crisis, in an article appearing in the Wall Street Journal.

    He also dismissed the notion that the country will have to restructure or refinance its more than 300-billion-euro public debt.

    "Greece has taken drastic, sometimes painful, steps to turn an unsustainable situation around," Rehn wrote in an opinion piece appearing in the esteemed US newspaper on Tuesday.

    "I am aware that the Greek reform drive has not killed concerns that Athens might yet be forced to restructure its debt ... For several intertwined reasons, I find these concerns unfounded."

    He also said that the Greek government's reforms were ambitious but also "realistic", while apparently making better progress than expected.

    "In fact, the impressive progress with structural reforms is likely to lead to a higher than assumed GDP growth," he said, without however, citing figures or targets.

    Rehn listed off three reasons why debt restructuring is highly unlikely, before adding:

    "It would mean severe knock-on effects, through a protracted disruption of the broader economy and financial system in Greece, and have adverse consequences for the whole euro area and the global economy ... Its political costs would be extremely damaging not only for Greece but for the euro area and the European Union as a whole. While improving credibility does not happen overnight, we are seeing signs of a gradual stabilization in market sentiment toward Greece."

    [03] AEK venue for Dundee game

    AEK Athens has declared the Nea Smyrni stadium in the same-name central Athens district as its home field for Thursday's match against Scotland's Dundee United, the second leg game in the third qualifying round of UEFA's Europa League.

    UEFA approval, nevertheless, is pending.

    Nea Smyrni is the home field for Greek Super League club Panionios.

    AEK's home field, the 70,000-seat Athens Olympic Stadium (OAKA), was excluded due to the poor condition of its playing surface. A new turf was installed barely a few weeks ago, only to shoot up in large chunks during a friendly at the stadium between Panathinaikos Athens and Genoa CFC last week.

    AEK won the first game in Scotland 1-0.

    Caption: Dundee United's Jon Daly (R) vies with AEK Athens' Costas Manolas (L) during the Europa League play-off first leg football match at Tannadice Park, Dundee, Scotland, 19 August 2010. ANA-MPA / EPA/GRAHAM STUART

    [04] Stocks down 3.42% on Tues.

    Stocks on Tuesday succumbed to international pressures on other bourses and fell by 3.42 percent at the Athens Stock Exchange, with the market's composite index ending at 1,544.33 points. Turnover was a low to moderate 106.48 million euros.

    The Big Cap index fell by 3.39 pct, the Mid Cap index ended 3.02 pct lower and the Small Cap index fell 2.10 pct. Only Chemicals were up, (0.46 pct). Raw Materials (5.35 pct), Telecoms (5.38 pct) and Financial Services (4.36) scored the biggest percentage losses of the day.

    Broadly, advancers trailed decliners by 34 to 148 with another 33 issues unchanged.


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