Athens News Agency: News in English, 08-10-19

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

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

CONTENTS

[01] PM Karamanlis in London Monday

[02] Papandreou calls for Sl meeting on crisis

[03] KKE report says 'socialism proved superior'

[04] Synaspismos leader addresses party's youth organisation

[01] PM Karamanlis in London Monday

In statements to the press afterwards, Karamanlis stressed that developments in the international were unprecedented in the post-war period, adding that the major credit crisis coincided with the sub-prime crisis in the US, both in tandem with the rise in global inflation, a dangerous combination for most of the countries of the world.

Karamanlis also stressed that the impact of the credit crisis had spread to Europe through the interdependence in today's world, resulting in the liquidity problems on both the European interbank market and in the operation of European banks.

The premier expressed satisfaction, however, with the concerted and decisive way in which the EU leadership has acted in the past few days.

"We adopted a broad plan, which contains a series of measures, the goal of which is to restore the citizens' and investors' confidence in the banking system," he said, noting that the plan guarantees the liquidity of the banks so that they may continue to carry out their role. "These measures have already brought results, as the interest rates on the interbank market have started to decline," he elaborated.

Regarding the role of the ECB, Karamanlis described it as "particularly positive', noting that "from the very first moment, under the guidance of its president, Mr. Trichet, it provided substantial liquidity to the banking system".

He said the European Central Bank had displayed full comprehension of its wider role in the course of the European economy, and expressed his conviction that the ECB, in cooperation with the EU governments, would continue to contribute decisively to improvement of the standard of living of Europe and its citizens.

Karamanlis further said that he briefed Trichet on the decisions taken by the Greek government, and particularly the legislation of a minimum guarantee on deposits, as well as on its political commitment for full guarantee of the savings of depositors in banks operating in Greece.

He also briefed the ECB chief on the programme for fortifying the Greek credit system which, the premier stressed, provides the necessary guarantees for the medium-term borrowing of the credit institutions, but stressed, however, the strict conditions and continuous monitoring by the State of all banks entering the credibility restoration program.

Karamanlis told Trichet that the weaker social strata needed to be helped, and noted that the governor of the Bank of Greece, George Provopoulos, who accompanied the premier to the meeting, was in constant contact with the ECB.

Mutual briefing in such crisis instances was absolutely necessary, as developments were progressing rapidly and allowed for not one hour of delay, Karamanlis said, and expressed his conviction that the good cooperation between the Greek side and Trichet and Papademos would continue.

Also present at the meeting were foreign minister Dora Bakoyannis, Economy and Finance Minister George Alogoskoufis as well as Minister of State Theodoros Roussopoulos.

[02] Papandreou calls for Sl meeting on crisis

According to a PASOK press release, the letter is addressed to President of Brazil Luis Inacio Lula da Silva, Egyptian President Hosni Mumbarak, the Prime Ministers of Britain Gordon Brown, Spain Jose Luis Zapatero, Portugal Jose Socrates, the President of Germany's SPD Franz M?ntefering, the German Foreign Minister and SPD candidate chancellor in the 2009 elections Frank-Walter Steinmeier and the leader of India's Congress Party Sonia Gandi.

"Our movement, the Socialist International, is in front of the challenge for formulating a global response to the crisis which will be fair and socially responsible...Our answer must go beyond the current crisis and lay firm foundations for a new progressive model of governance, a new world vision for how our globe is governed, how our development will become really sustainable, how we can transform our economy into a 'green economy'," Papandreou notes in his letter.

[03] KKE report says 'socialism proved superior'

The report will form the second text of positions of the party's Central Committee that will be discussed at the next party conference on February 18-22.

[04] Synaspismos leader addresses party's youth organisation

He said that the agenda of the parliamentary Radical Left Coalition (SYRIZA), of which Synaspismos is the main element, are the social problems "and not the soccer pitch which the two major parties wish to put us, that of scandal-monguering."

The Synaspismos leader expressed the view that the two mainstream parties "will try to benefit from the crisis," adding that "we see them quarreling about things about which the Greek people cannot well understand."

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