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Athens Macedonian News Agency: News in English, 16-11-16

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

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

CONTENTS

  • [01] Obama's visit marks a change in U.S. attitude towards Greek debt- gov't source
  • [02] Government's economic team meeting with institutions on banking issues, bankruptcy law
  • [03] Mitsotakis-Obama discuss Greece's role in the region, ND's vision of the country
  • [04] Dijsselbloem: Threat of bail-in in Greece last year made banks raise private capital for recapitalisation

  • [01] Obama's visit marks a change in U.S. attitude towards Greek debt- gov't source

    U.S. President Barack Obama's visit to Athens marks a shift in American policy concerning Greece's debt, a government source told Athens-Macedonian News Agency (ANA) on Wednesday, a few hours after the U.S. leader left Athens to continue his European tour to Berlin.

    "The most important change in American policy can be condensed in the phrase, 'you implemented reforms, now let's see the deb', instead of the previous stance of, 'implement the reforms so that we can start discussing the debt'," the source said, noting the visit was positive.

    In fact, according to one view, Donald Trump's win may have benefited the debt issue by speeding up the change, the source said, adding that the Greek side felt Obama's full support on the refugee issue. Furthermore, the American government didn't pressure the Greek side to proceed with the Cyprus issue.

    On 19:30, government spokesman Dimitris Tzanakopoulos will hold a briefing with Obama's visit as the sole topic.

    [02] Government's economic team meeting with institutions on banking issues, bankruptcy law

    The government's economics team started its meeting with the representatives of the institutions on Wednesday evening, during which the two sides will discuss banking issues, the out-of-court mechanism for debt settlement, the boards of banks and bankruptcy law.

    On the out-of-court settlement, an official participating in the talks said the team is looking for technical ways to settle debts of small businesses towards banks, the State, pension funds, employees and suppliers.

    On Greece's side, Finance Minister Euclid Tsakalotos, Economy Minister Dimitris Papadimitriou, Energy Minister Giorgos Stathakis, Justice Minister Stavros Kontonis, the General Secretary of Public Revenues Giorgos Pitsilis, the President of the Hellenic Financial Stability Fund (HFSF) Giorgos Mihalis and the general director of the Bank of Greece, Ilias Plaskovitis are attending the meeting.

    [03] Mitsotakis-Obama discuss Greece's role in the region, ND's vision of the country

    New Democracy Kyriakos Mitsotakis met with U.S. President Barack Obama on Wednesday afternoon, with whom he discussed bilateral relations and Greece's role in the region, his office said in a statement.

    Mitsotakis said Obama's visit constitutes an important event for Greece and during their meeting he had an opportunity to thank him for his friendship and support towards Greece in critical times.

    The ND leader told Obama the represents the feelings of the vast majority of the Greek people and highlighted the strategic importance of Greek-American relations for both countries, especially in difficult times of uncertainty and challenges in the region.

    He also reiterated Greece can and must boost its stabilizing role in the eastern Mediterranean which would help the country exit from the economic crisis.

    "I said this will happen mainly with our own stable and serious reform effort. With a reliable leadership and a comprehensive national plan, of Greek inspiration and implementation. This effort demands truth and realism. The support of our friends, such as Barack Obama, is certainly very important, but there is no deus ex machine," he said.

    We must all do what is necessary to get out of the crisis. This concerns mainly the debt issue and the primary surpluses - an issue that must be resolved as soon as possible."

    Mitsotakis also assured the U.S. president that New Democracy is fighting against populism, isolationism and introversion and is in the front line for supporting Democracy. "Greece has all the potential to become a beacon of stability and prosperity in today's troubled world," he said.

    [04] Dijsselbloem: Threat of bail-in in Greece last year made banks raise private capital for recapitalisation

    BRUSSELS (ANA/C. Vasilaki) – The threat of a bail-in as a measure to recapitalize EU banks has a very strong preventive effect by pressuring banks to raise private capital, as was the case in Greece, Dutch finance minister and Eurogroup President Jeroen Dijsselbloem said on Wednesday, in a speech at a UBS event in London.

    "The threat of bail-in has caused banks to increase their buffers by raising private capital, issuing shares or merging with other banks. In Greece, for example, the threat of bail-in late last year significantly increased private participation in the recapitalisation process of some Greek banks, thereby reducing the public burden," he said.

    "The same can now be seen in Italy. Private solutions are once again preferred," he added.


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