Athens News Agency: News in English, 08-05-14

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

CONTENTS

[01] PM calls for front against profiteering, fraud

[01] PM calls for front against profiteering, fraud

The prime minister sent a message to business people as well, noting that a free market "does not mean an unaccountable market".

Karamanlis called on all state agencies related to the market "to contribute so as to avoid second stage negative repercussions from imported inflation, to see that our products will reach the consumer with high quality and low prices and to prove in practice that a free market does not mean an unaccountable market."

He further said that "all have responsibilities regarding the smooth operation of the market, which is the state, through the continuous support for its regulatory and supervisory role, as well as businesses through the avoidance of oligopolistic practices."

Referring to foreign investments in the country, the prime minister stressed the need for it to be understood that the increase in investments, the extroversion of firms, the competitiveness of the economy and the attractiveness of Greece jointly shape the most crucial preconditions for securing strong growth.

Karamanlis underlined that the main targets of the government's policy are the creation of necessary conditions to increase wealth produced, the tackling of unemployment and the fairer distribution of social dividends.

He also focused on the international crisis and the surge in prices caused by the upsetting of the balance between supply and demand in food, the vibrations from the fiscal crisis and the slowdown in the economy of the United States which are being conveyed, as he said, to the economies of the entire world and, lastly, the chain increases in oil prices which from 26 dollars in 2003 have reached 126 dollars today and are intensifying even more, as he added, uncertainties in the modern-day world.

The prime minister also referred to the economic situation prevailing all over Europe where, as he said, growth rates are receding, while inflation is being strongly felt and the European Commission is revising its assessments for the worse.

"The path to the future, for all European countries, is becoming more demanding. Certainly, however, the economies of the euro zone are proving to be more durable in their confrontation with international pressure," he said.

Karamanlis also stressed that he shall "continue the policy of reforms which have shielded the economy to a considerable degree, secured high growth rates and are restricting unfavourable repercussions."

Lastly, he said that "the latest assessments by the European Commission certify that growth will continue in our country with rates that are double the average of the euro zone, employment will increase by more than 1 percent per year and unemployment will continue to decrease."

Caption: Greek Premier Costas Karamanlis addresses the general assembly of the Federation of Greek Industries (SEB) at the Athens concert hall on Tuesday, May 13, 2008. ANA-MPA / G. ANTONIOU

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