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Athens News Agency: News in English, 11-11-17

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

From: The Athens News Agency at <>


  • [01] EU Task Force unveils 1st report on Greece
  • [02] Cyprus a priority for Greek foreign policy, DM says in Nicosia
  • [03] Tax evasion higher in 2010, ministry report
  • [04] Stocks recover, up 0.96%

  • [01] EU Task Force unveils 1st report on Greece

    AMNA / A European Commission Task Force for Greece on Thursday presented its first report on the Greek economy. The report highlighted the huge challenges facing the Greek public administration which must be resolved within adverse conditions of a debt crisis and a deep economic recession.

    Presenting the report in Brussels, Horst Reichenbach, head of the Task Force, said a technical assistance to be offered to Greek authorities has two significant targets: returning to economic growth and contributing to the sustainability of Greek public debt. Reichenbach said the Greek state machine would need technical assistance offered by EU experts for a period of two to three years until the Greek public sector reached a satisfactory operating level.

    The report stressed that the Task Force could help Greek authorities to respond to three pressing challenges: supporting growth, employment and competition, promoting growth through a reform of the public administration and sustaining progress towards fiscal consolidation. The report stressed that the main sectors needed technical assistance were tax administration, controlling public spending, reforming public administration, judicial reform, public procurement contracts, competition and privatizations. Reichenbach underlined two large investment projects, which have been frozen because of problems related with funding or an economic recession in the country. One is a photovoltaic project called “Helios”, with a budget of 20 billion euros and the other is five possible road work contract, worth 8.7 billion euros which could created 10,000 job positions and add around 1.5-2.0 pct to Greek Domestic Product.

    On the occasion of the presentation of the first report, European Commission president Jose Manuel Barroso said: "Fiscal consolidation should go hand in hand with the structural reforms needed to transform Greece's growth potential and generate the jobs its people so urgently need. We reiterate that our European Institutions will continue to do everything within their power to help Greece. The Task Force set up by the Commission has quickly established good cooperation with the Greek authorities to identify their priority needs. It has mobilised offers of technical assistance from many sides, thus demonstrating the unique European endeavour to support Greece in addressing its challenges." AMNA

    [02] Cyprus a priority for Greek foreign policy, DM says in Nicosia

    NICOSIA (AMNA) -- A single, undivided Cyprus is a top priority for Greek foreign policy, Defence Minister Dimitris Avramopoulos said on Thursday during a visit to Cyprus.

    Speaking during a joint press conference with his Cypriot counterpart Demetris Eliades, Avramopoulos stressed that Cyprus defends its interests with Greece at its side.

    "The economic crisis will not lead us to make discounts or back down from the principles and goals we have set," Avramopoulos underlined, adding that his visit to Nicosia had real, semantic and symbolic value and was a link in the enduring and steadfast cooperation between Greece and Cyprus.

    "It is a new start and a new chapter in cooperation between Greece and Cyprus. Greece guarantees the independence and unity of Cyprus," he said and invited his Cypriot counterpart to visit Athens in order to reaffirm the agreements made on Thursday.

    "Our aim is to serve the goal of peace and stability in the region," he added. AMNA

    [03] Tax evasion higher in 2010, ministry report

    AMNA / Tax evasion in Greece actually rose in 2010, based on tax statements submitted during that year for income earned in 2009, according to a finance ministry announcement.

    In an announcement issued on Wednesday, seven in 10 freelance workers declared an income lower than the 12,000-euro tax-free allowance of that year so that 273,662 freelance workers out of a total of 378,876 that submitted income tax statements during that year paid no tax at all.

    During the same year, only 443 self-styled professionals declared incomes greater than 200,000 euros a year and only six declared incomes above 900,000 euro.

    Out of total tax-payers submitted tax statements in 2010, only 52 declared incomes above 900,000 euro in that year, of which 15 were salaried employees. Another 204 tax-payers declared incomes ranging from 500,000 euro to 900,000 euro in that year. AMNA

    [04] Stocks recover, up 0.96%

    AMNA / Stocks recovered after two days of sharp losses in the Athens Stock Exchange on Thursday, helped by a recovery of the bank index which lost 5.89 pct in the previous two sessions. The index had fallen to its lowest levels since early 1990. The composite index of the market rose 0.96 pct to end at 724.81 points, with turnover remaining a low 37.989 million euros.

    The Big Cap index rose 1.53 pct, the Mid Cap index ended 1.38 pct higher and the Small Cap index rose 0.43 pct. Hellenic Postbank (15.09 pct), National Bank (6.18 pct), Piraeus Bank (3.81 pct) and Marfin Popular Bank (3.47 pct) were top gainers among blue chip stocks, while PPC (2.83 pct) and Ellaktor (1.63 pct) were top losers.

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