Friday, 25 November 2011 Issue No: 3942
President of the Republic Karolos Papoulias (R) receiving new Foreign Minister
Stavros Dimas (L), at the presidential mansion on Thursday. AMNA/A. Beltes.
2012 draft budget ratified by Parliament com't
The 2012 draft budget was ratified by the relevant Parliament committee on
Thursday, passed by committee members of the three parties (PASOK, ND
and LA.O.S) backing the Papademos government, despite the low turnout of
participating MPs.
Attending the meeting, Deputy Finance Minister Yiannis Mourmouras, who
up until recently served as ND leader Antonis Samaras' chief economic
adviser, said "he is neither optimistic nor pessimistic over the course of the
budget", although he called on deputies to approve it as "an essential condition
for the implementation of the new loan contract."
Mourmouras also emphasised that the first memorandum signed by the
previous Papandreou government failed, because amongst others, "it
attempted an adjustment of the entire fiscal deficit, including the deficit cycle,
apart from the structural one."
He said the outcome of this option was the implementation of multiple
austerity measures that plunged the economy into recession and into a "debt
trap".
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Friday, 25 November 2011
Politics acknowledged that many mistakes have been made since the
onset of the crisis in its management.
"The first (EU-IMF bailout) package was not sufficient," they
Samaras : We achieved everything said, adding that "in 2010 we should have agreed on a bigger
with our solid stance one. We also should have involved the private sector, which
had expressed its readiness. Further, the prediction of Greece's
Main opposition New Democracy (ND) leader Antonis returning to the markets in one year's time was over-optimistic.
Samaras late Wednesday appeared satisfied with the acceptance We could have halted the crisis at a very early stage if we had
of his moves regarding Greece's commitments on the taken four steps forward instead of what we did; one step at a
disbursement of the sixth tranche of the EU-IMF bailout loan, time and sound out the reactions. We made mistakes, but we
speaking to reporters outside his office in parliament. didn't have the relative experience and we hadn't realised the
"We achieved everything with our solid stance. Deliberation is complexity of the crisis and its potential to contaminate and
like a chess game. You make your move and wait for your spread," one official said, on condition of anonymity.
opponent's move. What would they say?...Prime Minister Lucas The officials further underlined that, for Germany, "the
Papademos agrees with what I have said.... What will they say independence of the European Central Bank (ECB) is a
to me? That we will not give you the sixth tranche because you supreme value", and "as such Berlin will accept even an ECB
do not sign?" said Samaras. initiative to purchase bonds of countries facing debt crisis", but
Asked if there are positive reactions from Europe on his stance, such a measure -- that aims to maintain interest at a tolerable
ND leader said that he has no specific information but "I hear level -- should maintain "a temporary character and not acquire
what is being said". permanency".
They also said that the main target of the eurozone at this stage
PM Papademos on Samaras letter and political is to regain the confidence of the markets and thus "the next
weeks will be critical for the future of the eurozone". Besides,
leaders' written commitments they added, Greece must promptly conclude the agreement with
The issue of written commitments demanded by the EU of the the private sector and immediately afterwards begin
leaders of the political parties supporting prime minister Lucas implementation of the October 26-27 eurozone summit
Papademos' transitional government was among the issues agreement.
discussed in Papademos' recent meetings with the European
political leaders, he told a Cabinet meeting on Thursday, Papandreou in Brussels on Thursday
according to sources
According to the same sources, what was agreed is that the PASOK leader, former prime minister and President of
political leaders will send separate letters to the EC, ECB and Socialist International (SI) George Papandreou will be on
IMF. Papademos also expressed to the Cabinet his satisfaction Thursday in Brussels where in the afternoon he will meet with
over main opposition New Democracy (ND) leader Antonis the President of the European Council Herman Van Rompuy.
Samaras' letter. On Friday noon, Papandreou will speak at the opening of a
The evaluation of ND leader's letter will be made on Monday two-day SI meeting taking place in Brussels.
during the Eurogroup meeting and according to the premier's Late Friday, Papandreou will be in Kiel, Germany, to address
estimation, Samaras' letter will have a positive acceptance the Congress of German Green Party on the theme "The future
without further problems. of Europe'.
German government reacts positively LAOS leader Karatzaferis to hold meeting
to Samaras letter, sources say with PM Papademos on Friday
BERLIN (AMNA/Ch. Poulidou) Popular Orthodox Rally (LAOS) party leader George
The German government reacted positively to Greek main Karatzaferis will be received Prime Minister Lucas Papademos
opposition New Democracy (ND) leader Antonis Samaras' at 12 noon on Friday. The meeting will focus on a briefing for
letter, sources told AMNA late Wednesday, but added that Karatzaferis on the results of the prime minister's contacts in
appraisal will be made after a better perusal of the letter and Brussels earlier this week.
will, at any rate, be in line with the appraisal of the European
Commission.
German government officials, during a meeting with Greek President receives FM after latter's
journalists who are in Berlin on a visit organised by the Greek visit to Cyprus
delegation to the European Commission, spoke at length on the
Greek crisis and expressed concern on whether the 'haircut' of President of the Republic Karolos Papoulias on Thursday
the Greek debt would reach 50 percent, while they also received Greece's new foreign minister Stavros Dimas,
immediately after the latter's return from Cyprus.
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Friday, 25 November 2011
Papoulias said that Greece wants good relations with Turkey, Democracy (ND) leader Antonis Samaras' letter to EU leaders.
but warned that only statements of good will were not sufficient "I think that this government was formed only to implement
as at the same time Turkish fighter planes were making decisions in general, and not only those of October 26, without
overflights over the Greek island of Kastellorizo. going to the ballots and the popular verdict, and this is so
Dimas said that Turkish president Abdullah Gul's statements on mainly because the prominent circles of Europe are afraid.
Wednesday concerning Cyprus do not help in consolidating a They fear the elections' prospects, meaning the increasing
good climate. popularity of the Left, or even the rise in strength of other
The foreign minister also stressed the need for immediate parties too," stressed Tsipras, adding: "After the latest
initiatives to be undertaken to restore Greece's image abroad. development, (Samaras' letter) I have the impression that the
general elections will be delayed beyond February 19."
FM in Berlin, Brussels Tsipras called Samaras' letter a "pathetic development" which
proved that "our creditors and partners, after their demands to
Greek foreign minister Stavros Dimas will be in Berlin on substantially abolish Greece, democracy and the popular
Tuesday to attend a Foreign Policy Forum in Berlin, while he sovereignty, are now demanding the abolition of the Greek
will also meet with his German counterpart. political figures' credibility and I believe that with this
Dimas will be in Brussels from November 30 to December 1 procedure on the whole Mr. Samaras is forced to lose his
for an EU Council of Ministers meeting on foreign affairs. political credibility".
"Of course that is his (Samaras') problem, but if someone sees it
overall it is a problem for the country's political life," he
FM spokesman; EU must take warned.
further steps to acquire toos
for dealing with crisis PPC workers' union president, unionists
arrested at utility's data processing bldg
Greek foreign minister spokesman Grigoris Delavekours
stressed on Thursday that it is important that the EU take steps Riot police stormed the state-run Public Power Corp.'s (PPC)
for further deepening in order to acquire tools for dealing with data processing building in northeast Athens district of
the crisis. Holargos on Thursday morning to evict PPC union members
Replying to questions during a regular press briefing regarding occupying the building in protest to an extraordinary surtax on
Greece's stance on proposals for changes to the European real estate.
treaties, Delavekouras declined comment on discussion he The controversial tax has been tacked onto electricity bills.
called "hypothetical" for the time being. PPC has traditionally allowed consumers to make arrangements
with the utility to pay high electricity bills in instalments, if
FM spokesman on EEZ; fYRoM 'name issue' needed. However, with the inclusion of the surtax in the
electricity bills, such arrangements can no longer be made, and
“Greece's policy calls for the delineation of all sea zones with the PPC must cut off power to consumers who do not pay the
all its neighbours. Greece will not sell out its rights,” foreign entire sum -- electricity bill and surtax -- by the due date.
ministry spokesman Grigoris Delavekouras reiterated on Union (GENOP) members have since Sunday blocked off the
Thursday when asked whether the current government intends building housing the unit, which issues the orders for a
to proceed with the declaration of an Exclusive Economic Zone discontinuation of power supply to users with overdue debts.
(EEZ). Some 15 union protestors, including outspoken GENOP
As regards the still unresolved "name issue" involving the president Nikos Fotopoulos, were taken into custody by police.
former Yugoslav Republic of Macedonia (fYRoM) to Greece's A prosecutor later filed charges of obstructing the operation of
immediate north, he called on the government of the former a public service against the 15 individuals arrested during the
Yugoslav republic to reconsider its positions so that a mutually takeover of the PPC building.
acceptable solution can be found.
Referring to concerns over the safety of ethnic Greeks in Cairo, Work stoppage at AMNA on Friday
Delavekouras assured that there is no reason to worry over their
safety, underlining that the Greek embassy is in contact with On Friday, November 25, a work stoppage will take place from
members of the community. 11:00 a.m. to 17:00.
During the work stoppage news items and information will not
SYRIZA leader foresees that date be broadcast by the Agency and the ANA-MPA's website will
not be updated.
of elections will be delayed
Coalition of the Left (SYRIZA) parliamentary group leader
Alexis Tsipras predicted on Thursday that general elections will
not be held on February 19, following main opposition New
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Friday, 25 November 2011
Financial News adding that in all cases there is no cash left over to spend on the
market, resulting in the small and medium size Greek
enterprises having literally "dried up" and at risk of folding.
FinMin on economy programme, troika ESEE said that the Greek households have changed their living
and spending habits, with all family expenditures -- from the
Finance Minister and government vice president Evangelos purchase of staple goods from supermarkets to utility bills,
Venizelos informed the Inner Cabinet on Thursday that the loans, rent, school expenses and heating oil -- undergoing small
discussions with the troika (EC, ECB and IMF) on the new or bigger cuts.
economy programme will start on December 12, sources said Regarding food purchases, there has been a large shift to
Moreover according to Venizelos' estimations all the important inexpensive private label goods and to items on special sale,
issues as the voting of the 26th October decisions, loan while outlets and malls are also preferred for clothing and
agreement and PSI will be completed by the end of January. footwear purchases due to the large discounts they offer year-
A Cabinet meeting is scheduled for next Wednesday. round, and a significant increase has been noted in on-line
purchases via the internet at lower prices than purchases from
Eurostat: Unemployment in Greece an actual shop. Also, item and goods swaps via the internet
have also appeared in Greek society, for items that were
at 12.5% in 2010 discarded in the past.
BRUSSELS (AMNA)
The highest umemployment in a Greek region was recorded in
Business Briefs
western Macedonia (Dytiki Makedonia), at 15.5 percent in -- Overdue loan payments are on the rise, according to Bank
2010, according to figures released here on Thursday by of Greece (BoG) figures made public on Wednesday, within the
Eurostat. framework of its Interim Report on Monetary Policy 2011.
Additionally, umemployment surged to 14.8 percent in the
Ionian Islands, up from 9.7 percent in 2009. -- Tourism revenues were up 9.5 pct in the January-September
On the whole, unemployment in the country stood at 12.5 period this year, compared with the corresponding period in
percent in 2010, up from 9.5 percent in 2009. 2010, mainly due to an increase in revenues (16.5 pct) from
The entire report is located at: countries other than the EU, totalling 2.96 billion euros.
http://epp.eurostat.ec.europa.eu/cache/ITY_PUBLIC/1-
24112011-AP/EN/1-24112011-AP-EN.PDF
Stocks remain at 18-year lows
Survey: Consumers turn to cheaper Stocks fell slightly on Thursday at the Athens Stock Exchange
private label goods, outlets and on-line amid continuing low turnovers, which again fell below 30
million euros to total 26.95 million.
shopping to deal with reduced incomes The composite index of the market fell 0.39 pct to end at
673.30 points, falling to new 18-year lows.
Retail trade chains are expected to close the year with losses of The Big Cap index fell 0.29 pct, the Mid Cap index ended 1.89
over 10 percent and an overall reduction in turnover of 18 pct lower and the Small Cap index dropped 0.27 pct.
billion euros, the National Confederation of Greek Merchants Of the shares traded, 87 declined, 75 gained and 37 remained
(ESEE) said on Thursday. unchanged.
Thus, ESEE said, the estimated losses to the state in VAT
revenues from the chains' turnover reduction are 2 billion euros Sector indices ended as follows:
from the automobile branch, 1.4 billion euros from retail trade Insurance: -1.40%
and 2.5 billion euros from wholesale trade. Industrials: +0.67%
ESEE, citing recent surveys of Greek and foreign companies, Commercial: +3.26%
said that 9 in 10 consumers have cut their spending for clothing
Construction: -3.12%
and footwear, as well as expenditure for nights out. Also, 8 in
Oil & Gas: +0.66%
10 consumers have cut spending for household goods and
Personal & Household: -1.02%
entertainment, and also state that their buying power has been
substantially reduced. Raw Materials: -0.59%
Further, 1 in 4 Greeks state that they do not have enough Travel & Leisure: -3.47%
money to meet their basic needs, while 2 in four use what Technology: -0.73%
remains of their incomes to repay loans and credit card bills, Telecoms: -1.27%
and one in four tries to put some money aside in fear of losing Banks: +1.40%
their job. Food & Beverages: +0.38%
ESEE also said that 1 in 4 Greeks are living under the poverty Health: +0.29%
level, another 1 in four on the margins of poverty level, and two Utilities: -1.28%
in four are living off money that as already been set aside, Chemicals: +0.84%
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Friday, 25 November 2011
Financial Services: -1.89% The exhibition, which will run through 4 March 2012, is
dedicated to the donation of the ancient Abdera treasure, which
The stocks with the highest turnover were National Bank, was discovered in 2000 in London and ending up at the Athens
OPAP and Coca Cola 3E. Numismatic Museum after several stops, thus explaining the
exhibition's title "Abdera-London-New York-Athens"
Selected shares from the FTSE/ASE-20 index The treasure dates back to 520-500 BC and was discovered at
closed in euros as follows: the London market in 2000 by an American collector. The
Alpha Bank: 0.72 collector succeeded in purchasing all 22 coins, thus maintaining
Public Power Corp (PPC): 4.40 their unity, and subsequently donated the collection to the
HBC Coca Cola: 12.25 Numismatic Museum in 2010.
Hellenic Petroleum: 6.26 A total of 57 coins are presented in the exhibition, which also
includes another 38 coins from Abdera found in the Museum's
National Bank of Greece: 1.76
various collections, in order to present a rounded picture of
EFG Eurobank Ergasias: 0.50
coinage in Abdera from the 6th century BC up to the 2nd
OPAP: 6.05
century AD.
OTE: 3.11
Abdera was founded in the 6th century BC on the coast of
Bank of Piraeus: 0.24 Thrace by the Ionian city of Teos and became a powerful city.
Titan: 10.81 The city's history was formed through its relations with the
Persians, the city-state of Athens, the Macedonian kings and
ADEX closing report Rome. The first coins are dated back to 520-515 BC, with the
dominant image being the griffon, a mythical creature with the
The December contract on the FTSE 20 index was trading at a body of lion, the head and wings of an eagle and the tail of a
premium of 0.20% in the Athens Derivatives Exchange on snake. This is related with the metropolis Teos as well as the
Thursday, with turnover falling to 7.058 million euros. Volume ancient Greek gods Dionyssos and Apollo, who were
on the Big Cap index totaled 2,991 contracts worth 3.937 worshipped in Abdera.
million euros, with 18,940 short positions in the market.
Volume in futures contracts on equities totaled 18,266 contracts Works of art to be auctioned
worth 3.121 million euros, with investment interest focusing on in Thessaloniki
National Bank’s contracts (9,242), followed by Alpha Bank
(1,818), GEK (1,677), Bank of Cyprus (1,156), Eurobank
A portrait of Elena Skylitsi-Venizelou, wife of Greek statesman
(931), Hellenic Postbank (605), PPC (501) Piraeus Bank (495)
Eleftherios Venizelos, signed by French painter Paul Emile
and OPAP (492).
Chabas and a painting by Constantinos Volanakis are among
important 19th and 20th century works of art that will be
Foreign Exchange rates - Friday auctioned on November 28 in Thessaloniki.
Hellenic Auction will host the event that will feature works
Reference buying rates per euro released representative of contemporary Greek art.
by the European Central Bank:
U.S. dollar 1.357 Antiquities smuggling arrest
Pound sterling 0.873
A 61-year-old man was arrested in Kouvaras, Aetoloakarnania
Danish kroner 7.548
prefecture, on Thursday on antiquity smuggling charges after
Swedish kroner 9.382
ancient artifacts and coins were found in his truck.
Japanese yen 104.62
Acting on a tip-off, police went to an outdoor market in
Swiss franc 1.245 Kouvaras where the located the truck and searched it.
Norwegian kroner 7.948 According to police the search turned up 59 ancient gold, silver
Canadian dollar 1.417 and copper coins, 13 other ancient artifacts and a marble vase,
Australian dollar 1.390 as well as a pistol, ammunition and a quantity of cannabis, all
of which were confiscated.
General News The detainee will appear before a public prosecutor, on charges
of antiquities smuggling, illegal possession of a firearm and
Abdera Treasure at Athens ammunition, and possession of narcotic substances.
Numismatic Museum Bodies of 2 non-legal migrants
A genuine treasure of ancient Greece concerning one of the found near Evros River
most important ancient city-states of the northern Aegean, The bodies of two non-legal migrants were found in the region
Abdera, is currently on display at the Numismatic Museum in of Peplos, on the shores of the Evros River and in a farming
Athens. area in Thymaria, Alexandroupolis.
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Friday, 25 November 2011
Local police said the bodies are those of a man of Afro-Asian VRADYNI: "Illegal structures: What is foreseen for coastline
man and a young Chinese man approximately 25 years of age, and forests".
which police surmise attempted to cross the Evros River to
illegally enter Greece from the opposite Turkish coast.
Police believe the first man was swept away by strong waters,
resulting in his drowning, while the second died due to adverse
weather conditions.
Weather Forecast
Cloudy on Friday
Cloudy weather and northerly winds are forecast in most parts
of the country on Friday, with wind velocity reaching 3-8
beaufort. Temperatures will range between -1C and 19C.
Slightly cloudy in Athens, with northerly 5-8 beaufort winds
and temperatures ranging from 7C to 14C. Same in
Thessaloniki, with temperatures ranging from 4C to 11C.
The Thursday edition of Athens'
dailies at a glance
Main opposition New Democracy (ND) leader Antonis
Samaras' letter to the EC, IMF and ECB heads and the
revised list of "heavy and hazardous" occupations,
dominated the headlines on Thursday in Athens'
newspapers.
ADESMEFTOS TYPOS: "Berlin accepts Samaras letter".
AVGHI: "German Chancellor Angela Merkel drags eurozone
into recession".
AVRIANI: "Turks buy major Greek building and construction
companies which are collapsing".
ELEFTHEROTYPIA: "Massacre in heavy and hazardous
professions".
ELEFTHEROS TYPOS: "Window of hope for change of
economic policy".
ESTIA: "The socialists' achievement".
ETHNOS: "The new list of heavy and hazardous professions".
IMERISSIA: "Sixth tranche of loan unblocks".
KATHIMERINI: "Samaras letter brings the sixth tranche of the
bailout loan".
NAFTEMPORIKI: "The obstacles that blocked the sixth
tranche of the loan have been eliminated".
RIZOSPASTIS: "Employers' all-out attack on salaries".
TA NEA: "Compromise with 'golden' signature'."
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