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Athens News Agency: News in English, 11-04-06

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

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

CONTENTS

  • [01] Troika chiefs due Wednesday
  • [02] Azeri entrepreneurs urged to invest in Greece
  • [03] New Chinese embassy economic counselor meets with Greek-Chinese chamber reps
  • [04] Greece-Azerbaijan business forum in Bakun
  • [05] Econ crisis 'tip of iceberg'
  • [06] ASE opening: Decline
  • [07] Athens Newspaper Headlines 

  • [01] Troika chiefs due Wednesday

    The heads of the European Commission (EC), European Central Bank (ECB) and International Monetary Fund (IMF) 'troika' arrive in Athens on Wednesday for an inspection of the Greek economy ahead of approval of the disbursement of the 5th tranche of the 110 billion euros EU-IMF bailout loan to Greece.

    The troika chiefs will meet with Greek finance minister George Papaconstantinou on Wednesday afternoon.

    The focus of the troika chiefs' talks in Athens will be the Medium-Term Fiscal Strategy Framework 2012-2015, data on the execution of the current (2011) budget and possible additional interventions, and the final figures on the 2010 fiscal deficit and whether it overshot initial forecasts.

    Papaconstantinou flies to Budapest on Thursday for informal Ecofin and Eurogroup meetings.

    A technical team of troika inspectors arrived in Athens earlier in the week.

    More details on the subscriber's page of ANA-MPA | Subscription request form

    

    [02] Azeri entrepreneurs urged to invest in Greece

    Baku (ANA-MPA/M. Michail) -- Greek President of the Republic Karolos Papoulias outlined the efforts being made by the Greek government and people for recovery of the economy, and invited Azeri businessmen to invest in Greece and take advantage of the new investment framework and recent "fast track" law, addressing a business forum in Baku on Wednesday morning that he jointly inaugurated with Azerbaijan's president Ilham Aliyev.

    Addressing the 4th Greek-Azeri Business Forum, Papoulias also noted the repercussions of the global economic and credit crisis on the Greek economy, but also stressed the developmental prospects arising.(ANA-MPA)

    "We are working for the Greek economy's speedy return to a recovery track. For that reason, apart from the fiscal streamlining, we are also proceeding with the implementation of developmental policies, which take into consideration our country's comparative advantages and our productive potential," Papoulias said.(ANA-MPA)

    Caption: Greek President of the Republic Karolos Papoulias (R) visits Heydar Aliyev Foundation during al 3-day state visit to Azerbaijan. (ANA-MPA)

    More details on the subscriber's page of ANA-MPA | Subscription request form

    

    [03] New Chinese embassy economic counselor meets with Greek-Chinese chamber reps

    (ANA-MPA) -- The new economic and trade counselor at the Chinese embassy in Greece, Sun Liwei, met on Tuesday with representatives of the Greek-Chinese Chamber of Commerce's board members.

    Both sides agreed that the goal in the coming period is to widen cooperation between the Greek-Chinese Chamber and the PRC embassy in Greece. (ANA-MPA)

    Both outgoing counselor Liang Shuhe and Sun Liwei noted that they consider the chamber an important partner for the further development of Sino-Greek business and trade relations. (ANA-MPA)

    More details on the subscriber's page of ANA-MPA | Subscription request form

    

    [04] Greece-Azerbaijan business forum in Bakun

    BAKU (ANA-MPA) -- Greek President of the Republic Karolos Papoulias outlined efforts being made by the Greek government and people for a recovery of the beleaguered economy, while he invited Azeri entrepreneurs to invest in Greece and take advantage of a new investment framework and recent "fast track" law.

    He made the comments during a business forum in Baku on Wednesday morning, which he jointly inaugurated with Azerbaijan President Ilham Aliyev.

    Addressing the 4th Greek-Azeri Business Forum, Papoulias also noted the repercussions of the global economic and credit crisis on the Greek economy, but also stressed the developmental prospects arising. (ANA-MPA)

    More details on the subscriber's page of ANA-MPA | Subscription request form

    

    [05] Econ crisis 'tip of iceberg'

    (ANA-MPA)-Main opposition New Democracy (ND) leader Antonis Samaras on Wednesday called for a new charter for Greece that will institute a new social contract and reflect the volition of the Greek society, addressing a meeting of ND's committee on Constitutional reform.

    "The economic crisis is the top of the iceberg of the crisis of the political system. The post-dictatorship model had gone systemically bankrupt before the threat of economic bankruptcy," Samaras said, adding that the structural and organisational model of the Greek state in the post-dictatorship period, having served the targets of that era, has proved unable to adapt to the new conditions.(ANA-MPA)

    He said the crisis the country is currently going through is complex and multifaceted, and potentially dangerous, and cannot be tackled one dimensionally.(ANA-MPA)

    "With the process for revision of the Constitution, which has begun at ND's initiative, we want to turn the crisis of the political system into an opportunity for a new, bold and forward-looking proposal for Greece to emerge," Samaras stressed.(ANA-MPA)

    More details on the subscriber's page of ANA-MPA | Subscription request form

    

    [06] 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 1.33 percent, standing at 1,469.58 points at 11:30 am, and turnover at 17.109 million euros.

    Individual sector indices were moving mostly downward, with the only gains in Commerce, up 1.94 percent; Travel & Recreation, up 0.03 percent; and Construction, up 0.02 percent.

    The biggest losses were in Health, down 2.80 percent; Mass Media, down 2.27 percent; and Raw Materials, down 1.56 percent.

    The FTSE/ASE 20 index for blue chip and heavily traded stocks was down 1.53 percent, the FTSE/ASE MID 40 index was down 1.48 percent, and the FTSE/ASE-80 small cap index was down 1.85 percent.

    Of the stocks traded, 17 were up, 60 were down, and 21 were unchanged.

    More details on the subscriber's page of ANA-MPA | Subscription request form

    

    [07] Athens Newspaper Headlines

    The Wednesday edition of Athens' dailies at a glance

    The EU/IMF 'troika' team of experts' visit to Greece and in-party criticism by PASOK MPs on the government's economic policy were the main front-page items in Athens' dailies on Wednesday.

    ADESMEFTOS TYPOS: "You're leading us to national depression - Papaconstantinou (finance minister) on the receiving end of sharp criticism from ruling PASOK MPs".

    AVGHI: "Households will withdraw at least 19 billion euros from bank deposits this year to meet their living needs".

    AVRIANI: "PASOK MPs criticise Memorandum and Papaconstantinou, and openly dispute premier Papandreou's policy".

    ELEFTHEROS: "Outburst by Mikis Theodorakis: They humiliated us, tied us up, and are selling us off - 'How can a government with a 20 percent vote commit us for 20 years?".

    ELEFTHEROS TYPOS: "Debt restructure here and now, before the foreigners force us".

    ELEFTHEROTYPIA: "Double outburst by PASOK MPs".

    ESTIA: "How development will come".

    ETHNOS: "Alert on the social security funds and the retirement superannuity".

    IMERISSIA: "You're off target on the program, troika ascertains".

    KATHIMERINI: "Ultimatum from the troika".

    LOGOS: "Bank deposits declining".

    NIKI: "The Memorandum 'strangling' PASOK and IKA (state Social Security Foundation)".

    NAFTEMPORIKI: "The social security funds 'sinking' in the recession".

    PARASKEVI+13 (weekly): "Tsunami of dismissals and salary cuts of up to 40 percent in civil service".

    RIZOSPASTIS: "Today the 16th Congress of the World Federation of Trade Unions (WFTU) opens in Athens".

    TA NEA: "Papandreou will turn the vote in parliament on the Medium-Term Stability Program into a vote of confidence".

    VRADYNI: "Troika demands dissolution of the DEKO (public utilities and state organisations)".

    More details on the subscriber's page of ANA-MPA | Subscription request form


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