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Athens News Agency: News in English, 10-11-15

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

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

CONTENTS

  • [01] Gov't-troika talks on economy
  • [02] LA.OS satisfied with election showing
  • [03] ND on local gov't election results
  • [04] Greek bond prices down in Oct.
  • [05] Stocks end higher

  • [01] Gov't-troika talks on economy

    (ANA-MPA) -- Finance Minister George Papaconstantinou on Monday met with a visiting delegation of EU-ECB-IMF "troika" representatives, who arrived in Athens for a regular inspection of the Greek economy ahead of the approval of a third tranche (nine bln euros) of a support loan to Greece in December.

    Speaking to reporters after the meeting, ministry officials said the meeting focused on technical issues and covered the execution of the current budget and provisions for the 2011 budget, along with progress in all-important structural reforms.

    The "troika" representatives will remain in Athens for a week to tour other crucial ministries related with the 110-billion-euro memorandum, as well as the Bank of Greece, the independent Hellenic Statistical Authority, the State Accounting Office and social agencies.

    In the wake of an upward revision of the country‚s fiscal deficits (15.4 pct of GDP in 2009 and 9.4 pct of GDP in 2010) along with a shortfall in budget revenues -- totaling 2.0 billion euros this year -- troika officials are reportedly demanding additional austerity measures, (ANA-MPA) including an immediate reduction of the wider public sector by 30 pct, the closing loss-making state-run utilities and enterprises, along with municipal enterprises (along with employee lay-offs), the long-expected opening of so-called "closed professions", bolder interventions in the labour market (i.e. replacing all sector and private contracts), drastic spending cuts in defence, health, education and more reforms in the pension system. (ANA-MPA)

    More details on the subscriber's page of APE-MPE | Subscription request form

    [02] LA.OS satisfied with election showing

    Opposition Popular Orthodox Rally (LA.OS) expressed overall satisfaction for its showing in the first round of the local government elections and in Sunday's second round in which it supported candidates backed by ruling PASOK and main opposition New Democracy (ND).

    Referring to the election results, an associate of party leader George Karatzaferis stated that "we are satisfied but not completely because we did not get what we have expected," adding that "we have paid for our consistent stance".

    LA.OS insisted that a government, comprising distinguished figures regardless of political party affiliation, is necessary, adding that its stance toward the government will not change, backing the right moves and objecting to the wrong ones.

    More details on the subscriber's page of APE-MPE | Subscription request form

    [03] ND on local gov't election results

    (ANA-MPA) -- Main opposition New Democracy (ND) party characterised as positive Sunday's second round local government election results, considering that its candidates were elected in five regions when a year earlier, based on the 2009 election results, it wouldn't have been able to win any of them.

    Based on the ND assessment of the election results, the party has improved performance even in the regions it lost.

    ND spokesman Panos Panagiotopoulos stated on Monday that the choices made by party leader Antonis Samaras were the right ones based on the results, pointing out that the party assumes again a leading role in the political scene.

    Referring to the high voter abstention, Panagiotopoulos stated that it records an overall disbelief toward the political system.

    "ND has assumed its share of the responsibility," Panagiotopoulos stated, pointing out that the high abstention rate also reflects the rejection of the blackmailing dilemma set by the ruling PASOK party.

    He also said that ND leader Samaras had called on the people to send a clear message to the government that it needs to change its policy "and the message was sent".

    Referring to the ND defeat in the municipalities of Athens and Thessaloniki, he stressed that there are regional characteristics that affected the result, pointing out that in both municipalities the centre-right was in office for more than two decades which obviously had an impact on the voters.

    As regards the prime minister's invitation for consensus, Panagiotopoulos stated that he cannot respond to a hypothetical question reminding, however, that ND leader Samaras has stated that he will back the government measures that lead to the right direction but he will not give his consent to new harsh measures that lead nowhere.

    On the occasion of the visit of troika representatives to Athens and the consultations in progress, Panagiotopoulos asked the premier if he intends to take new austere measures.

    More details on the subscriber's page of APE-MPE | Subscription request form

    [04] Greek bond prices down in Oct.

    (ANA-MPA) -- Greek state bond prices continued falling in October in the domestic electronic secondary bond market, with returns rising further in the month, the Bank of Greece said on Monday. In its monthly report, the central bank said the five-year benchmark bond yielded 11.51 pct at the end of the month, up 103 basis points from September, while the three-year bond yield rose 20 bps to 10.65 pct. The 10-year benchmark bond return rose 28 bps to 10.76 pct and the 30-year bond return rose 32 bps to 8.84 pct.

    The yield spread between the 10-year Greek and German benchmark bonds shrank slightly to 820 basis points from 824 bps a month earlier. The three-year price fell slightly to 87 points at the end of October, from 87.05 points a month earlier, the five-year bond price fell to 80.51 points, the 10-year fell to 73.58 and the 30-year bond price fell to 55.85 points.

    Turnover in the market totaled 1.94 billion euros in October, up from 1.82 billion in September, but sharply down from 55.42 billion euros in October 2009. Average daily turnover rose to 97.1 million euros, up from 82.7 million in September, with the five-year benchmark bond the most heavily traded security with a turnover of 386 million euros in October. (ANA-MPA)

    More details on the subscriber's page of APE-MPE | Subscription request form

    [05] Stocks end higher

    Stocks ended higher at the Athens Stock Exchange on Monday, pushing the composite index of the market above the 1,500 level. The index rose 0.84 pct to end at 1,509.85 points, with turnover a low 68.928 million euros. The Big Cap index rose 0.27 pct, the Mid Cap index ended 0.01 pct higher and the Small Cap index fell 0.77 pct.

    Coca-Cola Hellenic Bottling (5.52 pct), Ellaktor (4.68 pct) and OPAP (3.90 pct) were top gainers among blue chip stocks, while Viohalco (2.67 pct), Piraeus Bank (2.48 pct) and Cyprus Bank (2.15 pct) were among losers.

    The Food (5.26 pct) and Travel (3.28 pct) scored the biggest percentage gains of the day, while Chemicals (2.15 pct) and Banks (1.42 pct) suffered losses.

    Broadly, decliners led advancers by 84 to 56 with another 53 issues unchanged. Avenir (9.52 pct), Imperio (6.90 pct) and Rilken (6.50 pct) were top gainers, while PC Systems (12.5 pct), Attikat (11.11 pct) and Epsilon Net (9.23 pct) were top losers.

    More details on the subscriber's page of APE-MPE | Subscription request form


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