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Athens News Agency: News in English, 12-02-22

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

From: The Athens News Agency at <>


  • [01] PSI to be ratified in Parliament on Thursday
  • [02] IIF chief: Greek debt deal very significant to all parties
  • [03] Athens Newspaper Headlines
  • [04] Leftist leader lashes out at gov't policies in letter addressed to European leaders

  • [01] PSI to be ratified in Parliament on Thursday

    A cabinet meeting decided on Tuesday evening, according to government sources, to have the bill on the PSI ratified at the Parliament Plenum on Thursday under urgent procedures. Prime Minister Lucas Papademos, said that the Eurogroup's agreement and decisions are a "great step" of decisive importance for the country's future, adding that "the approval of the economic programme and the PSI agreement were the main target of economic policy and for this a great deal of work was done". amna

    Moreover, the cabinet meeting also ratified the bill that will include all the "actions necessary in advance", issues concerning the fiscal measures, the fiscal and tax administration, pensioning and social security clauses and the additional budget, as well as amendments for the research institutions. The specific bill will be ratified on Tuesday under urgent procedures.

    The cabinet meeting focused on the Eurogroup decisions on Greece and was due to approve the basic bill that will be tabled in parliament, under urgent procedures, containing "the central package of requisite actions" for implementation of the new economic programme for Greece agreed with the troika and finalised during a marathon Eurogroup meeting that lasted into the pre-dawn hours of Tuesday.amna

    Papademos also expressed his optimism that "if the programme is implemented effectively, in 2013 the problems will be overcome and growth will start gradually". amna

    The prime minister stressed that "many predicted obstacles and failure, but fortunately they did not come true", while he predicted that with the decisions taken confidence in the country will be strengthened.

    The prime minister, addressing the ministers, pointed out that by the end of March many things must be done and the immediate targets must be achieved without delays. amna

    The prime minister also explained that the reduction of the debt from 129 percent anticipated by relevant reports in 2020 will ultimately be decreased to 120.5 percent, with a contribution of 4.6 percent by the public sector of the member-states and 3.7 percent by the private sector.

    [02] IIF chief: Greek debt deal very significant to all parties

    BRUSSELS (AMNA/V.Demiris) -- A deal reached with Greek creditors, on a voluntary basis, is very strong for private creditors, fair for all parties participating in the deal and offering significant benefits to Greece, Charles Dallara, managing director of the Institute of International Finance said on Tuesday.

    Speaking to reporters, during a news conference with Jean Lemierre, IIF crisis resolution official, Dallara emphasized that the PSI deal avoided a disorderly default of Greece, which could have very negative consequences to the country and expressed his confidence that a large number of Greek creditors would participate in the debt restructuring deal.

    Dallara welcomed a very positive stance showed by both the Greek Prime Minister Lucas Papademos and the Finance Minister Evangelos Venizelos in working out a solution on PSI and stressed that there was a lack of determination from the Greek side which lead to a worsening of the situation after the initiatives taken by Nicola Sarkozy and Angela Merkel in Deauville in May 2010. He also criticized the inactivity of Eurozone authorities which caused even greater doubts for private investors. Dallara stressed that the idea of introducing CACs by the Greek government was not very attractive to the Institute, while Jean Lemierre noted that it was up to the Greek authorities to decide on the issue.amna

    Lemierre said that a 53.5 pct haircut on the nominal value of Greek bonds represented losses of more than 70 pct for private bondholders.

    [03] Athens Newspaper Headlines

    The Wednesday edition of Athens' dailies at a glance

    Prime Minister Lucas Papademos' address to the Cabinet on the Eurogroup agreement which he called "of historic importance", the immediate promotion of the reforms as well as Finance Minister Evangelos Venizelos' call on those who sent their money abroad to bring it back to Greece, dominated the headlines on Wednesday in Athens' newspapers.

    ADESMEFTOS TYPOS: "130 billion euros the loan, 107 billion euros the 'haircut' for the 'frozen' Greece!...".

    AVGHI: "The agreement is not binding on the people".

    AVRIANI: "Bring back the money you sent abroad".

    DIMOKRATIA: "Colony consolidated by the Constitution".

    ELEFTHEROS TYPOS: "Three grey zones in the rescue agreements".

    ESTIA: "The country can take off".

    ETHNOS: "Haircut in civilians' bonds too".

    IMERISSIA: "Historic rescue".

    KATHIMERINI: "The 'keys' of the new agreement".

    LOGOS: "Greece in the freezer for many years".

    NAFTEMPORIKI: "An unprecedented agreement but with the known recipe".

    NIKI: "The professions that offer jobs abroad".

    RIZOSPASTIS: "Eurogroup's decision is for the people's unstructured bankruptcy".

    TA NEA: "Bring the money back to Greece".

    VRADYNI: "The loan agreement a breather but without development measures".

    [04] Leftist leader lashes out at gov't policies in letter addressed to European leaders

    AMNA--Radical Left Coalition (SYRIZA) Parliamentary group leader Alexis Tsipras on Tuesday once again expressed strong reservations over the adherence and observation of the agreements that will be reached by the present government.

    In a letter addressed to the eurozone leaders, European Commission president Jose Manuel Barroso, European Council president Herman Van Rompuy and European Parliament president Martin Schulz, Tsipras lashed out at the government’s policies, actions and decisions. amna

    He stressed that “as soon as the Greek people’s right to democratically express their will is restored and regain control of their country’s democratic institutions, they will most likely reconsider the agreements the present government will reach.” He said that “the Greek people will not accept losing their sovereignty, or tolerate external interventions, selling public companies, land or other assets.”

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