Athens News Agency: News in English, 08-10-14

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

CONTENTS

[01] FinMin at IMF meeting

[02] Earthquake shakes Evia

[03] Papoulias visits Vietnam

[04] Athens Newspaper Headlines

[01] FinMin at IMF meeting

Alogoskoufis, who was addressing the annual meeting of the International Monetary Fund (IMF) and the World Bank, also said that the impact from the global credit crisis was beginning gradually to be felt in Greece as well, but that developments until now showed that the Greek economy was more resistant than other European ones.

"This is shown also by the comparatively high growth rates and the ongoing decrease in unemployment," the finance minister noted, adding that in the first half of 2008 Greece presented a 3.5 growth rate compared to the 1.8 in the Eurozone, while the Greek finance and credit system showed greater resistance.

Despite these encouraging messages, he added, there were no margins for not being vigilant.

Caption : ANA -MPA file photo of Finance Minister George Alogoskoufis

[02] Earthquake shakes Evia

The quake, recorded at 5:o6 am, struck in the sea region of the coastal town of Mantoudi, causing panic but no injuries.

No damages were immediately reported.

Caption: ANA-MPA file photo

[03] Papoulias visits Vietnam

After talks with Vietnam's President Nguyen Minh Triet, Papoulias referred to the international financial crisis sweeping the world, blaming this on "greed and an ideological alienation from the meaning of the real economy".

He criticised the idea that markets could by themselves, without state regulation and control, create and fairly distribute wealth.

In statements after the meeting, he also underlined the deep respect that Greek people feel toward the people of Vietnam.

Turning to international issues, Papoulias underlined the need to respect international law and the principles of the United Nations, adding that this was of particular relevance in terms of the continued occupation of Cyprus, an EU member-state, by Turkish troops.

The Vietnamese president said his talks with Papoulias had been useful and noted the excellent political ties between Greece and Vietnam, expressing hope that these good relations would also be extended to trade and investments, where they were currently limited.

After the presidents' meeting, Deputy Foreign Minister Petros Doukas and Vietnamese officials signed bilateral cooperation agreements for renewable energy sources, cooperation between the Greek and Vietnamese foreign ministries and mutual protection of investments.

The two sides did not sign an agreement for avoiding double taxation of shipping profits that had recently been initialled in Athens, however. According to Deputy Merchant Marine Minister Panos Kammenos, the signature of the agreement stumbled on a "purely bureaucratic obstacle" because the Vietnamese ministries involved could not agree on the criteria for taxation.

During talks with Triet, Papoulias extracted a promise that the matter would be resolved so that the agreement might be signed.

In addition to meeting Triet, the Greek president also had meetings on Monday with the General Secretary of the Communist Party of Vietnam Nong Duc Manh and Vietnam National Assembly Chairman Nguyen Phu Trong, while he is due to attend an official dinner given in his honour by Vietnam's president on Monday night.

Caption: President of Republic Karolos Papoulias (L) and President of Vietnam Nguyen Minh Triet(R) are shaking hands at the presidental mansion in Hanoi, Vietnam on Monday 13 October 2008. ANA-MPA /Vangelis Vardoulakis

[04] Athens Newspaper Headlines

The positive impact on markets after the Eurozone countries' summit decisions on the credit crisis and the US government's measures dominated the headlines on Tuesday in Athens' newspapers.

ADESMEFTOS TYPOS: "Spectacular rise in stockmarkets".

APOGEVMATINI: The newspaper presents the Social Security Foundation (IKA) pension rates that will be applied in 2009.

AVGHI: "1.5 trillion euros the value of the europackage of support".

AVRIANI: "Unprecedent liquidity in Greek banks despite the international credit crisis".

CHORA: "Fever over banks with mergers and acquisitions".

ELEFTHEROS: "Ruling New Democracy party's organised supporters' severe scolding to ministers".

ELEFTHEROS TYPOS: "Leaderships take action with 1.3 trillion euros buffer".

ELEFTHEROTYPIA: " 1.3 trillion euros support to banks- Markets take first deep breath - Farewell to 2010 Stability Pact".

ESTIA: "Capitalism is not collapsing, it is being reformed, purified and getting better".

ETHNOS : "They opened up the treasure chests - The State returns and saves Europe and America".

KATHIMERINI: "Credit crisis ebbs - The European stockmarkets and Wall Street up 11 percent".

LOGOS: "Breather for the international economy "

NIKI: "As the government has no plan for the next day, the people fear worse days to come".

RIZOSPASTIS: "Working classes must speak up and react - European Union takes decisions on the administration of the crisis ".

TA NEA: "The 'euro' reductions in bank interest rates a useless 'gift', as banks will recoup the losses with 'burning' interest on loans".

TO VIMA: "The 'Brown model' resuscitated the international markets".

VRADYNI: "Good start, but the road is long - International markets take deep breath after European countries' agreement".

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