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Athens News Agency: News in English, 10-11-23

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

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

CONTENTS

  • [01] EU-ECB-IMF 'troika': Greece meeting goals
  • [02] Gov't closes 2 state-run companies
  • [03] Garbage pilling up
  • [04] ASE opening: Small decline

  • [01] EU-ECB-IMF 'troika': Greece meeting goals

    ANA-MPA/Representatives of the EU-ECB-IMF "troika" on Tuesday morning emphasised here that the Greek government is more-or-less continuing to follow a closely watched economic readjustment programme, stressing that criteria with an end of September deadline have been met.

    The eagerly expected press conference by the troika officials offered insight on how well Athens is meeting obligations under an EU-ECB-IMF memorandum signed in May to commence a 110-billion-euro bailout for the debt- and deficit-plagued east Mediterranean country.ANa-MPA

    Despite whatever challenges remaining, representatives referred to significant progress made so far in meeting goals, which have included drastic cuts in state spending and fiscal reform, a joint statement read.

    In reference to all-important growth prospects for the Greek economy -- which is facing a negative growth prediction of roughly 4 percent for 2010 -- troika representatives echoed other European analysts and economists in saying that the economic downturn will be reversed at some point in 2011. Inflationary pressure from price hikes and operational costs are expected to abate, pointing the way for an improvement in competitiveness, they said.

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

    [02] Gov't closes 2 state-run companies

    (ANA-MPA) -- A top inter-ministerial committee, headed by government Vice President Theodoros Pangalos, on Tuesday announced the abolition of two state-run societe anonyme companies, namely, the agriculture sector-related Agroktima and the culture ministry-affiliated Organisation for the Promotion of Hellenic Civilisation (OPEP), part of closely watched efforts to drastically cut state spending in Greece's cavernous wider public sector. (ANA-MPA)

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

    [03] Garbage pilling up

    ANA-MPa/The local government workers' union POE-OTA has called two 24-hour nationwide strikes, starting on Monday, while on Tuesday members will hold a rally outside the ministry of finance in Athens.

    In a meeting to be held on Tuesday, the union will decide its future stance.

    Union demands include the signing of a collective work contract and the hiring of 500 workers through ASEP (state agency responsible for public employment) -- a process that froze due to the signed EU-ECB-IMF memorandum.

    Meanwhile, tons of garbage is pilling up on the streets in all major cities across Greece as a result of the strike, launched last Friday.

    Municipal rubbish collectors, also participating in the strike, will be picking up only refuse of hospitals and open-air produce markets.

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

    [04] ASE opening: Small decline

    Equity prices were declining at the opening of trade on Tuesday on the Athens Stock Exchange (ASE), with the basic share price index down 0.11 percent, standing at 1,458.70 points at 11:00 a.m, and turnover at 17.641 million euros.

    Individual sector indices were moving downwards, with the biggest gains in Insurance, up 1.63 percent; and Travel and Recreation, up 0.79 percent.

    The biggest losses were in Constructions, down 1.20 percent; and Financial Services, down 1.14 percent.

    The FTSE/ASE 20 index for blue chip and heavily traded stocks was down 0.20 percent, the FTSE/ASE MID 40 index was down 0.23 percent, and the FTSE/ASE-80 small cap index was down 0.44 percent.

    Of the stocks traded, 20 were up, 41 were down, and 13 were unchanged.

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


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