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Athens News Agency: News in English, 11-01-05

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

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

CONTENTS

  • [01] PM trips to France, Turkey
  • [02] Greece will weather the debt crisis
  • [03] Dismembered body discovered in landfill
  • [04] ASE opening: Decline

  • [01] PM trips to France, Turkey

    Greek Prime Minister George Papandreou will be in Paris on Thursday, where he will meet with his French counterpart Francois Fillon, and in the Turkish city of Erzurum on Friday to attend a Turkish ambassadors‚ conference in the northeast Anatolia city, following a formal invitation.

    In Erzurum, Papandreou will be accompanied by his Turkish counterpart Recep Tayyip Erdogan, who will address the meeting of Turkey's top diplomatic corps.

    The third annual Turkish ambassadors‚ conference, entitled "Visionary Diplomacy: Global and Regional Order from Turkey‚s Perspective", will be chaired by Turkish Foreign Minister Ahmet Davutoglu and will be attended by Turkish diplomats serving abroad and at the country's foreign ministry.

    The week-long session opened in Ankara on Monday and will continue in Erzurum.

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

    [02] Greece will weather the debt crisis

    Finance Minister George Papaconstantinou categorically rejected speculation over a debt restructuring with creditors, and said Greece would weather out the debt crisis, helped by privatization of state assets worth seven billion euros.

    In an interview with Reuters news agency released Tuesday, the Greek FinMin said the country has cut its debt and has met all obligations towards the IMF and the European Union in return for a 110-billion-euros bailout, and noted that the government was also promoting structural reforms.

    He also denied reports that Greece was in talks with debt holders for extending the repayment period of the country‚s existing debt.

    "There are no such talks," Papaconstantinou said, dismissing reports that Greece was in talks with creditor banks. "This would not help Greece, the Greek economy, Greek banks, Greek citizens or the European problem," he noted.

    He stressed that Greece was making steady progress on cutting its fiscal deficit and was promoting unpopular reforms to ensure payment of the fourth tranche of a troika loan, worth 15 billion euros in March.

    "We finished 2010 on target, with reforms meeting the time schedule," Papaconstantinou said, adding that there was no reason to doubt for the next tranche, or any other tranche of the loan, "as long as we do our job correctly".

    He said privatisation proceeds were expected to total 1.0 billion euros this year, with an additional six billion euros expected in 2012-2013, including airports, public sector enterprises, real estate property and gaming. "We will use a very flexible methodology. We have a revenue target but was more important was to have the expertise and the dynamism that private investments would bring to these sectors. He reiterated that Greece would seek a return to capital markets this year, depending on market conditions, along with the issuance of a Diaspora bond loan to Greeks living abroad.

    Papaconstantinou said talks with China over the purchase of Greek state bonds were progressing, but declined to say anything more specific over the amount or the time of the deal. He noted that Greece would like an extension of repaying its IMF/EU loans to cover not only outstanding tranches but those already paid. The European Commission was positive over this request but we have to wait for Eurogroup‚s final decisions, Papaconstantinou said.

    Additionally, he sounded optimistic that the European Union would reach an agreement over joint issuance of euro bonds.

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

    [03] Dismembered body discovered in landfill

    A dismembered body was found Tuesday night at the landfill in Ano Liossia by a municipal employee, who immediately alerted the police.

    The victim is believed to be of Asian descent, but no further details were immediately available.

    Police are investigating the incident.

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

    [04] ASE opening: Decline

    Equity prices were declining at the opening of trade on Wednesday on the Athens Stock Exchange (ASE), with the basic share price index down 0.70 percent, standing at 1,386.84 points at 11:15 am, and turnover at 14.765 million euros.

    Individual sector indices were moving downward, with the biggest gains Telecoms, up 1.27 percent, and Chemicals, up 0.83 percent.

    The biggest losses were in Mass Media, down 7.10 percent, and Construction, down 2.16 percent.

    The FTSE/ASE 20 index for blue chip and heavily traded stocks was down 0.86 percent, the FTSE/ASE MID 40 index was down 0.43 percent, and the FTSE/ASE-80 small cap index was down 0.94 percent.

    Of the stocks traded, 10 were up, 59 were down, and 15 were unchanged.

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


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