Athens News Agency: News in English, 09-12-29

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

CONTENTS

[01] PM: Gov't proceeding with what it has announced

[02] Stocks end moderately lower

[01] PM: Gov't proceeding with what it has announced

Papandreou said that he does not fear a rejection of the stability and growth programme which the government will be submitting to the European Union in January, adding that the Greek economic problem differs from that of other countries and expressed optimism that the government will succeed in its effort.

The prime minister noted that Greece's problem is mainly due to the squandering of resources that were not directed towards growth, but to such programmes as the "stage" and to corruption.

He also referred to the banks and pointed out that although they have been financed they did not channel the money to the real economy, but preferred to close some holes of their own and to fund very specific companies.

He also said that inflation is no problem for Greece, while replying to a question on whether there is a case of VAT increasing, he said that no such suggestion has been put to him by the finance ministry.

Papandreou replied to many questions on the delay in the appointment of secretary generals at ministries and replied that it is better for one to wait even for one year for some changes to take place in the country, that have not taken place over the past 200 years.

On the question of the electoral law and disagreements being voiced, Papandreou said that he is willing to discuss every aspect of the issue and clarified that the next self-administration and regional elections will be held with the new electoral law and with "Kapodistrias 2."

Also replying to a question on whether the small parties stand to lose if the German model is applied, the prime minister said that this is not true and if the small parties lose some seats in the single-seat constituencies they will win them, and probably more, in the regions.

As regards the question of immigrants, Papandreou defended the arrangements being promoted by the Interior Ministry and on the question of whether the electorate will be distorted in this way, he replied that the electorate will not be distorted, it will simply change and that, in any case, all parties have the possibility, on an equal basis, to claim the vote of all the Greeks.

[02] Stocks end moderately lower

The FTSE 20 index fell 0.68 pct, the FTSE 40 index ended 0.18 pct lower and the FTSE 80 index eased 0.28 pct. The Health (1.18 pct) and Technology (0.92 pct) indexes were the only ones to record gains, while the Oil (3.33 pct) and Banks (1.21 pct) indexes suffered the heaviest percentage losses of the day.

Broadly, decliners led advancers by 92 to 85 with another 52 issues unchanged.

Tegopoulos (18 pct), Desmos (11.11 pct), Mevaco (9.82 pct), Lanacam (9.38 pct) and Minoan Lines (8.16 pct) were top gainers, while Vivere (10.0 pct), Unibios (9.52 pct), Elmec Sport (9.49 pct), Xylemporia (8.47 pct) and Vogatzoglou (8.33 pct) were top losers.

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