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Athens Macedonian News Agency: News in English, 13-08-25

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

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

CONTENTS

  • [01] Gov't spokesman to SYRIZA spokesman: Get help with state budget arithmetic
  • [02] Interior Minister: Early elections a crime
  • [03] New restructuring of Greek debt 'unavoidable', German FinMin advisor tells Sunday paper

  • [01] Gov't spokesman to SYRIZA spokesman: Get help with state budget arithmetic

    Main opposition Radical Left Coalition (SYRIZA) is a victim of its own obsession with catastrophy, government spokesman Simos Kedikoglou said on Sunday, replying to statements by the party's spokesman.

    In an announcement on Saturday, SYRIZA's Panos Skourletis referred to German official statements of Greece's possible need for a third loan and memorandum package, saying that Prime Minister Antonis Samaras' government "fading hopes for a miracle after the national elections in Germany (in September)." He also charged the PM with choosing the "head-in-the-sand policy" by taking a passive stance and awaiting orders from the troika of lenders, given that the latest data on the Greek debt showed that it has reached 180 pct of the GDP.

    On Sunday, following new German statements on the possibility of a third memorandum, Skourletis charged that the government "lacks democratic legitimacy and does not have the right to continue its disastrous work and to sign a new memorandum and new austerity measures".

    In his reply, Kedikoglou said, "SYRIZA is a victim of his own obsession with its predictions of disasters, distorting even simple arithmetic."

    The recapitalisation of banks, the government spokesman said, "created this temporary increase in debt" and said the SYRIZA spokesman should "call on some specialist from one of the party's component groups to explain it to him."

    After national efforts, "Greece is becoming stronger, and this is recognised by everyone abroad, as much as that spoils SYRIZA's plans," Kedikoglou concluded.

    [02] Interior Minister: Early elections a crime

    "Early general election would not be a mistake, it would be a crime and would put in jeopardy the economic stability and the Greek people's sacrifices" said Interior Minister Yannis Mihelakis in an interview with "Typos tis Kyriakis" Sunday edition, while referring to German Finance Minister Wolfgang Schauble's statements, he estimated that they "do not lead to new austerity measures, something that neither the real economy nor the people and the government would bear'.

    Asked on speculations of a 'warm autumn' he reiterated that "a scenario of additional measures does not exist, only the implementation of those measures already voted by the parliament".

    Mihelakis underlined that "Greece is a stability factor in an international environment of instability and turmoil and this should not be reversed by any demagogue. It is an advantage we should make use of and not to ruin it".

    [03] New restructuring of Greek debt 'unavoidable', German FinMin advisor tells Sunday paper

    A new restructuring of the Greek debt is "unavoidable", Joerg Rocholl, a member of the economic advisory board of German Minister of Finance Wolfgang Schaeuble told Greek Sunday paper RealNews.

    "In my opinion, the restructuring of the Greek debt is unavoidable," he said, as "the running level of the debt is very high and will continue to rise, despite the progress Greece has achieved in its primary surplus, that is, its state budget, without interest payments," Rocholl explained.

    However, he added, "even with a significant 'haircut', of, for example, half its debt, Greece must improve its primary surplus in order to be in a position to shoulder the level of its debt after a restructuring."

    Although Greece has "undoubtedly experienced serious austerity measures," the economist said, "infrastructural reforms are more necessary than ever ... and must include the improvement of the taxation system so that (financially) stronger taxpayers can contribute more to the balancing of state budgets."

    Rocholl, a professor at the European School of Management and Technology in Berlin, said that the original target of 50 billion euros revenues from privatisations "is certainly not realistic at this point" and referred to an International Monetary Fund (IMF) observation in 2011 that the Greek state had significant real estate assets it could use to reduce public debt. "But, here, again, more must be done to improve the legal and institutional framework for possible investors," he pointed out.


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