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

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

From: The Athens News Agency at <>


  • [01] Samaras: 'IMF recourse was planned'
  • [02] Revenues up in Apr., Q1 shortfall
  • [03] Stocks continue moving lower 

  • [01] Samaras: 'IMF recourse was planned'

    (ANA-MPA) -- Main opposition New Democracy (ND) leader Antonis Samaras on Thursday again lashed out at Prime Minister George Papandreou, accusing him of "misleading the people" as regards the latter's contacts with the IMF ahead of an eventual EC-ECB-IMF bailout.

    "Greece needs a restart on all levels," was the ND president's comment.

    Addressing a gathering of military veterans at the ND headquarters in Athens, Samaras said the country's recourse to the IMF's assistance was planned.

    "When Papandreou was insisting that '(surplus) money exists' and was declaring that seeking IMF assistance was out of the question, at the same time, he was planning exactly the opposite by secretly negotiating the country's submission. Everyone who listened to Strauss-Kahn's statement has no doubts about it. He is saying clearly that the country was under the IMF in just 15 days because of months-long, under-the-table negotiations that had taken place in advance," Samaras stressed.

    He also referred to the updated economic programme to be unveiled by ND on May 12, pointing out that it "takes under consideration the current adverse circumstances, includes well-targeted actions that can be implemented soon with visible results and recommends actions and measures that can pull the country out of the crisis. This is a New Contract that we will propose to the Greek people".

    Commenting on the statements made by Foreign Minister Dimitris Droutsas that Greece will not claim the Exclusive Economic Zone (EEZ) immediately to avoid putting a stress on the talks, Samaras said "this is a cause of concern. The government refuses to activate an internationally guaranteed right of our country sending the wrong signals to the other party thus leading to negative consequences."

    He underlined that "Turkey's demand for a 50-50 division is categorically rejected. "We insist that claiming the EEZ will fully guarantee our national interests within the framework of the international law," he said.

    Referring to Turkey's attitude toward Greece, he underlined that "Turkey continues to provoke and question our national sovereign rights. Its stance is problematic and provocative."

    He characterised the continuation of what he claimed was "secret diplomacy" by the government as "incomprehensible" and added that the "Turkish provocation can only be met with a firm deterrence policy backed by strong, well-trained armed forces and clearly defined 'red lines' that will not be crossed under no circumstances, as well as by national policies in Cyprus, the Aegean, the fYRoM 'name issue' and the rights of the ethnic Greeks in southern Albania."

    Samaras underlined that ND is fighting to "restore the part of national sovereignty that was forfeited by the PASOK government when it signed the memorandum". (ANA-MPA)

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


    [02] Revenues up in Apr., Q1 shortfall

    (ANA-MPA) -- Budget revenues improved in April, according to figures released by the finance ministry, although first-quarter revenues presented a more than one billion euros shortfall.

    Revenues posted a 3-percent increase after negative percentages recorded in the preceding months.

    However, the revenues in the first quarter of 2011 still presented a shortfall of more than 1 billion euros against the budget target. (ANA-MPA)

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


    [03] Stocks continue moving lower

    Stocks continued moving lower for a fourth consecutive session this week at the Athens Stock Exchange, as an early recovery effort failed to materialise in the market. The composite index fell 0.69 pct to end at 1,378.05 points, after gaining as much as 0.87 pct during the session.

    Turnover was a low 69.97 million euros. The Big Cap index fell 0.83 pct, the Mid Cap index ended 0.12 pct higher and the Small Cap index rose 1.32 pct. Viohalco (4.59 pct), MIG (1.49 pct), OPAP (0.99 pct) and Cyprus Bank (0.86 pct) scored gains among blue chip stocks, while OTE (3.95 pct), Eurobank (3.41 pct), Motor Oil (2.27 pct), PPC (2.23 pct) and National Bank (0.40 pct) suffered losses.

    The Industrial Products (1.64 pct) and Commerce (1.50 pct) sectors scored gains, while Media (6.25 pct), Telecoms (3.95 pct) and Utilities (2.15 pct) suffered the heaviest percentage losses of the day. Broadly, decliners led advancers by 76 to 63 with another 45 issues unchanged. Hellenic Fish Farms (16.67 pct), Papoutsanis (15 pct) and Korinth Pipes (11.58 pct) were top gainers, while Unibios (14.29 pct), Shelman (11.54 pct) and Nafpaktos Spin Mills (9.52 pct) were top losers.

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

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