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Athens News Agency: News in English, 12-03-08

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

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

CONTENTS

  • [01] PM: Successful completion of PSI a major part of new econ programme
  • [02] ND leader reiterates need for growth
  • [03] Budget cash deficit 24.9bln euros in 2011

  • [01] PM: Successful completion of PSI a major part of new econ programme

    AMNA / Prime Minister Lucas Papadermos termed Thursday a very important day in his opening address at the cabinet meeting on Thursday, providing a briefing on the progress of procedures for the PSI (bonds swap) which, as he said, will be concluded at midnight the same day.

    Papademos stressed that the successful completion of the bonds swap constitutes a considerable element of the country's new economic programme, as well as of the second financial support package.

    He also said that the greatest participation of the private sector is necessary for the targets of the new programme and of the second financial support package to be achieved. He added that a relatively limited participation percentage by private individuals will have repercussions on the implementation of Greece's economic programme and, in parallel, entails dangers for the private creditors and, in general, for the eurozone's fiscal stability.www.amna.gr

    The prime minister also stressed that Greece, with the support of its European partners, has shaped a suitable framework with considerable incentives for the bonds swap. "For this reason I look forward to the greatest participation of the private sector that will contribute decisively to the effort for the adjustment and recovery of our economy," the premier added.

    He termed the PSI as being the third major step for the ratification and signing of the new loan contract.amna

    [02] ND leader reiterates need for growth

    AMNA / New Democracy (ND) leader Antonis Samaras received on Thursday the heads of the country's professional Chambers.

    During the meeting Samaras reiterated the need for development of the Greek economy. "We give priority to development. We said it from the beginning and they were mocking us, now everyone promotes it, meanwhile the climate even in Europe is changing," he said, according to sources.

    Referring to the Chambers' presidents he told them that he wants them beside him to act as consultants. amna

    [03] Budget cash deficit 24.9bln euros in 2011

    AMNA / Greece's state budget cash deficit totaled 24.9 billion euros in 2011, while the budget presented a primary deficit of 7.736 billion euros over the same period, the fiscal policy general secretariat said on Thursday.www.amna.gr

    In a report, the secretariat said that outstanding debt obligation of the state to the private sector totaled 5.732 billion euros in December 2011, down from 6.659 billion euros in November 2011, of which 817 million euros were debt by municipal authorities, 588 million were the debt of government ministries, 1.281 billion euros was the debt of state hospitals, social insurance organisation owed 2.825 billion euros and 219 million euros were the debt of other legal entities.amna


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