Athens News Agency: News in English, 09-09-01

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

CONTENTS

[01] PM Karamanlis confers with Chambers Union

[02] Gov't: Suspension of bank auctions for debts below 200k until Dec. 31

[01] PM Karamanlis confers with Chambers Union

Hatzidakis said that the government was carrying on with its work as normal, replying after the meeting to a press question concerning speculations of early general elections.

Responding to union chairman Y. Kassimatis' call for cooperation between the credit system and business concerns, Hatzidakis noted economy and finance minister Yiannis Papathanassiou's announcement of a freeze on bank auctions of foreclosed properties from businesses and private borrowers for overdue debts of up to 200,000 euros, effective up to the end of the year.

He also stressed that the government has made it clear that support for the business enterprises should be forthcoming from the banks, and made special note of the Credit Guarantee Fund for Small and Very Small Enterprises (TEMPME), which "has financed the liquidity of thousands of enterprises".

Hatzidakis further noted that the government will introduce legislation that will facilitate the establishment of business enterprises by cutting down on bureaucracy, adding that a program to boost commerce and services will be unveiled on Wednesday.

Kassimatis, in turn, said that the financial crisis is reversible, provided that the structural changes and the government's National Strategic Reference Framework (NSRF) program move ahead immediately.

He also warned that the early elections speculation was not helping the economy, adding that dialogue and advancement of everything that has already been agreed are necessary.

Meanwhile, the justice ministry announced later the suspension of auctions on foreclosed properties by banks for sums up to 200,000 euros up until December 31, by virtue of legislation that will be tabled in parliament immediately by minister Nikos Dendias.

[02] Gov't: Suspension of bank auctions for debts below 200k until Dec. 31

The development comes after a same-day meeting between Prime Minister Costas Karamanlis and Development Minister Costis Hatzidakis, with the latter referring to an initiative by the economy and finance ministry over temporary relief of a specific segment debt-burdened bank borrowers.

Hatzidakis also stressed that the government has made it clear that greater support for SMEs should be forthcoming from banks, referring particularly to the Credit Guarantee Fund for Small and Very Small Enterprises (TEMPME), which "has financed the liquidity of thousands of enterprises".

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