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Athens Macedonian News Agency: News in English, 15-07-31

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

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

CONTENTS

  • [01] Banks, privatisations and fiscal targets dominate marathon meeting with creditor 'Quartet'
  • [02] Stock market likely to open on Monday, Botopoulos tells CNBC

  • [01] Banks, privatisations and fiscal targets dominate marathon meeting with creditor 'Quartet'

    ANA-MPA -- Recapitalising the banks, fiscal targets and Greek proposals for the privatisations fund were the first order of the day during intensive talks held by Finance Minister Euclid Tsakalotos and Economy, Infrastructure Shipping and Tourism Minister George Stathakis on Friday with the "Quartet" - the heads of missions sent to Athens by the institutions representing Greece's creditors (the European Commission, European Central Bank, International Monetary Fund and European Stability Mechanism). According to a government official, the issue of prior actions was not raised during the meeting. In statements afterward, Tsakalotos said that a large chunk of the six-hour meeting had focused on recapitalising the banks based on current developments in the financial system and the Greek side's proposals for the privatisations' fund, with the twin aim of both paying down debt and directing funds toward economic growth. At the same time, particular weight was given to fiscal targets for the next three years in order to reach a primary surplus of 3.5 pct of GDP in 2018. The talks also raised organisational issues, such as where the meetings will be held and how problems that arise will be promptly addressed so that there are no misunderstandings or differences between the various sides involved. Friday's meeting was held at the hotel where the mission chiefs were staying. The finance minister said that there was "convergence" on some points and less on others, adding that the discussion was held in a good atmosphere and will continue. The 'Quartet' has now made its way to the Bank of Greece, where they will meet BoG Governor Yannis Stournaras.

    [02] Stock market likely to open on Monday, Botopoulos tells CNBC

    ANA-MPA -- The Greek stock exchange will open again on Monday, according to statements made by the Hellenic Capital Market Commission Chairman Konstantinos Botopoulos to CNBC. He said the stock exchange was nearly ready to go back online as regards technical issues, provided the necessary ministerial decision was issued and whether banks had overcome technical problems in their IT systems that must be adjusted to the new environment created by the restrictions for Greek investors. Botopoulos said that testing will be conducted over the weeken and, if all goes well, the Athens stock market will open again on Monday.
    Athens News Agency: News in English Directory - Previous Article - Next Article
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