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Athens News Agency: News in English, 11-07-15

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

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

CONTENTS

  • [01] PM says gov't will continue to fight to save Greece
  • [02] All Greek banks successfully pass stress tests

  • [01] PM says gov't will continue to fight to save Greece

    Prime Minister George Papandreou arrived on the Aegean island of Kos on Friday, stressing in a meeting with local government officials and business people that the government will not give up the effort to save the country.

    "We will continue this battle everywhere - a battle of dignity and pride," Papandreou said, adding that Greece had to put its own house in order.

    Papandreou stressed that the world was living through historic moments for the future of Europe and all sides had to take stock of the importance of their decisions. He called on people to "close their ears to the sirens of disaster-mongering".

    "The battle will be difficult but we know where we are going and our efforts leads to an exit from the crisis," Papandreou underlined.

    The prime minister expressed satisfaction with the growth of tourism in Kos and the other Dodecanese islands and promised that the government will support this trend in order to boost the local economy. He described tourism as the "spearhead" for the country's economic growth.

    During the meeting, many proposals were tabled by the representatives of local agencies.

    Concluding the meeting, the prime minister said that Greece has great possibilities and that it has proved it.

    He said that the problem of bureaucracy should be immediately tackled and changes must be made towards securing decentralization of competencies.

    "In any case," Papandreou added, "we know, as government, where we are heading and we are in the right path."

    &copy; ANA-MPA SA. Intellectual rights and copyright belong to the ANA-MPA S.A.

    Reproduction of ANA-MPA content by visitors of this website is strictly forbidden.

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

    [02] All Greek banks successfully pass stress tests

    All Greek banks successfully passed the stress tests conducated by the European Banking Authority, based on their current figures and the business moves they have made.

    Despite adverse projections of the tests, the Greek banks‚ Core Tier 1 ratio was higher than the supervisory level of 5.0 pct. This year‚s stress tests were based on a more strict methodology compared with last year, as the benchmark level was set at 5.0 pct, from 6.0 pct in 2010, while they used the Core Tier 1 capital adequacy ratio instead of the Tier 1 ratio last year.

    Greek banks performance

    National Bank: with a performance of 7.7 pct it easily passed the 5.0 pct level.

    Eurobank: with a performance of 7.6 pct (after a provision for additional measures) the bank passed the 5.0 pct level.

    Alpha Bank: with a performance of 7.4 pct the bank easily passed the 5.0 pct level.

    Piraeus Bank: with a performance of 5.3 pct the bank passed the 5.0 pct level.

    ATEbank: with a performance of 6.0 pct (after a provision for additional measures) the bank passed the 5.0 pct level.

    Bank of Cyprus: with a performance of 6.2 pct the bank passed the 5.0 pct level.

    Marfin Popular Bank: with a performance of 6.2 pct the bank passed the 5.0 pct level.

    &copy; ANA-MPA SA. Intellectual rights and copyright belong to the ANA-MPA S.A.

    Reproduction of ANA-MPA content by visitors of this website is strictly forbidden.

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


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