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Athens Macedonian News Agency: News in English, 12-05-25

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

From: The Athens News Agency at <>


  • [01] Papoulias and BoG governor discuss growth prospects
  • [02] The Friday edition of Athens' dailies
  • [03] Athens Stock Exchange opening: Decline
  • [04] Loans to shipping down

  • [01] Papoulias and BoG governor discuss growth prospects

    AMNA--The state of Greek banks and growth issues were the focus of the meeting held on Thursday between President of the Republic Karolos Papoulias and Bank of Greece governor George Provopoulos, who visited him at the Presidential Mansion.

    "Many things are being heard about the banks," President Papoulias said and Provopoulos replied "in a period of great uncertainty it is important for 18 billion euros to be provided for the banks. It is positive that we had statements by European leaders for growth initiatives to be undertaken. Growth, however, passes through the country itself."amna

    Provopoulos added that what is necessary for growth to go ahead is a speedup of privatisations, the combatting of bureaucracy and corruption, the closure of utilities living from the citizens' resources and the utilisation of the ESPA funds, amounting to about 15 billion that are "stagnating" in Brussels.amna

    As regards the outflow of deposits, Provopoulos said that it concerns the outflow of resources from the real economy and must be reversed to be provided for the real economy. Growth is the combination of all these and we must deal with these and not with various other things, as we are doing lately, Provopoulos concluded.

    [02] The Friday edition of Athens' dailies

    The Friday edition of Athens' dailies at a glance

    The Finance Ministry' plans to solve the problem of the empty State coffers and speculations on a Greek exit from the eurozone, mostly dominated the headlines on Friday in Athens' newspapers.

    ADESMEFTOS TYPOS: "New Democracy (ND) leader Antonis Samaras: Exit from eurozone an act of suicide!!".

    AVGHI: "The 'iniquitous triangle' behind the troika".

    AVRIANI: "Foreign loansharks are blackmailing and threatening that they will oust us from the eurozone if we do not strictly implement the Memorandum".

    DEALnews: "The secret plan- The five axes for the Greek problem".

    DIMOKRATIA: "Six billion euros in measures regardless of who wins the elections".

    ELEFTHEROS TYPOS: "Moscow, Beijing send SOS of an international .....drachma domino".

    ESTIA: "The exit door from the eurozone".

    ETHNOS: "Greece again the centre of the world".

    IMERISSIA: "Panic over the empty state coffers".

    KATHIMERINI: "Vacillating battle in a polarised background".

    NAFTEMPORIKI: "Emergency plan for the State Coffers".

    RIZOSPASTIS: "Disobedience, insubordination to EU with strong Communist Party in the elections".

    TA NEA: "Euro-phrenia! The contradictory puzzle of the pre-election scenery".

    VRADYNI: "Europe afraid of Greece and Greece afraid of ...German Chancellor Angela Merkel".

    [03] Athens Stock Exchange opening: Decline

    AMNA--Equity prices were declining at the opening of trade on Friday on the Athens Stock Exchange (ASE), with the basic share price index down 0.22 percent, standing at 501.42 points at 11:00 am, and turnover at 3.285 million euros.

    The FTSE/ASE 20 index for blue chip and heavily traded stocks was up 0.17 percent, the FTSE/ASE MID 40 index was up 0.55 percent, and the FTSE/ASE-80 small cap index was up 0.36 percent.amna

    Individual sector indices were moving downward, with the biggest gains in Chemicals, up 2.92 percent and in Health, up 2.05 percent.

    The biggest losses were in Oil and Gas, down 1.50 percent; and Household and Personal Products, down 0.16 percent.

    Of the stocks traded, 26 were up, 12 were down, and 5 were unchanged.

    [04] Loans to shipping down

    AMNA--The volume of loans to shipping has shrunk significantly in the first trimester of 2012, reaching a five-year low of 5.9 billion dollars, according to figures released on Thursday by the shipbroker G. Moundreas.

    This represents a 60 percent reduction relative to the previous year and is accompanied in a reduction in the number of orders for newbuilds, which amounted to just 51 new orders for a total capacity of 1.8 million DWT in April, down 30 percent from March.amna

    Over the four-month period, there were 277 orders for new ships with a total capacity of 12 million DWT, reflecting a 55 percent drop from the same period in 2011 when there were orders for 622 new ships.amna

    Ship owners said the drop in orders for newbuilds was not only due to a lack of liquidity but also a 'wait-and-see' attitude triggered by a combination of negative developments and problems faced by shipyards expected to drive down prices by up to 15 percent.amna

    They also consider that prices for used ships have reached their limit and are not likely to fall significantly in the future.

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