Athens News Agency: News in English, 08-11-06

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

CONTENTS

[01] Schroeder addresses technology exhibition

[02] FinMin on banking system

[01] Schroeder addresses technology exhibition

Schroeder devoted most of his address to the repercussions of globalisation, stressing that rules are necessary for global competition and trade, while noting that profiteering and the lack of transparency have led the situation to the current global crisis.

The former German chancellor further said that the importance of developing economies must also be recognised and the international organisations must heed their views. The time that the United States could guide the global economies by itself has passed. The developing economies are demanding that they be faced as partners.

Schroeder pointed out that all the Balkan countries are needed in Europe, even Turkey, and said that there are three challenges for the European Union: Firstly the joint defence and security strategy, secondly a social model whose future will be safeguarded and which will aim at as most as possible participating in wealth and thirdly economic strength and the safeguarding of natural energy sources, meaning that technologies on renewable energy sources must forge ahead and globalisation also has its social dimension.

[02] FinMin on banking system

Speaking in Parliament, during a debate of the government-sponsored plan, Alogoskoufis said the plan had been misinterpreted but without it the economy risked losing even the most mediocre targets set by the European Union over economic growth in the country.

?The government was moving forward with a plan to deal with the effects of the financial crisis, a plan ensuring the interest of Greek citizens, economic growth and funding of small- and medium-sized enterprises, along with households. This way we ensure that the Greek economy will not suffer any credit crunch effects,? Alogoskoufis said.

He told Parliament that the Greek state will acquire a lever of pressure to the credit system in order to benefit certain categories of borrowers with special problems, such as unemployed with mortgage loans. ?We are already drafting plans on it,? he said.

The finance minister left the door open for changes and amendments to the plan before its discussion in the plenary of the Parliament.

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