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Athens News Agency: News in English, 11-10-04

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

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

CONTENTS

  • [01] Berlin-based Schaubuhne theatre troupe at Dimitria Festival
  • [02] FinMin: State will honour all of its obligations
  • [03] Stock exchange falls to June 1993 levels

  • [01] Berlin-based Schaubuhne theatre troupe at Dimitria Festival

    AMNA / A file photo of the Berlin-based troupe "Schaubuhne" will appear for the first time at the Dimitria Festival in Greece. Germans and Jews, Israelis and Palestinians, former west Germans and east Germans, Catholics, atheists, Christians, Jews and Muslim performers all on one stage in the same performance of ... Third generation or "One day before the next" (the original title). AMNA / STR

    [02] FinMin: State will honour all of its obligations

    AMNA / Greek Finance Minister Evangelos Venizelos on Tuesday offered assurances that the state will honor its obligations in paying wages and pensions provided that citizens are consistent in paying taxes and that the state mechanisms "rise to the occasion".

    Speaking to reporters during a presentation of results of a Eurogroup meeting on Monday, the Greek minister said: “Greece will meet all its obligations from bond maturity, wages, pensions, benefits and subsidies,” adding that “in order to have a state budget, citizens must pay their taxes. Imagine what could have happened if people did not pay their taxes”.

    Venizelos said the country’s cash reserves were adequate until mid-November and stressed that no more measures were needed as long as we are consistent, organized and systematic. He noted that talks with the troika had covered the release of a sixth tranche of a loan to Greece, revising a medium-term program and other structural issues, such as labor market, opening up of closed professions, cutting spending in social policy, public administration and justice.

    The Greek minister acknowledged there have been delays in promoting structural changes and referred to the “illusion of a higher living standard” for which the political world had the greatest responsibility. AMNA

    [03] Stock exchange falls to June 1993 levels

    AMNA / A sell-off in bank shares pushed the Athens Stock Exchange to its lowest levels since June 3, 1993, on Tuesday, amid a very negative climate prevailing in other international markets.

    Worries over developments in the Greek debt crisis, such as leaving open the possibility for a revision of a Greek bond swap programme, combined with a decision to postpone a Eurogroup meeting scheduled for Oct. 13, thus delaying the release of a sixth tranche of a bailout loan to Greece, dampened sentiment on the market.

    The composite index plunged 6.28 pct to end at 730.33 points, with turnover remaining a low 60.345 million euros.

    The Big Cap index ended 7.61 pct down, the Mid Cap index fell 5.76 pct and the Small Cap index ended 5.52 pct lower. AMNA


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