Athens News Agency: News in English, 10-06-21

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

CONTENTS

[01] PM: Greece needs 'team spirit' to exit crisis

[02] EU countries, sans Greece, to return to growth rates in 2011, Commission

[03] BoG optimistic over fiscal targets

[04] Papoulias receives LA.OS leader

[05] Stocks surge 3.38% on Mon.

[01] PM: Greece needs 'team spirit' to exit crisis

More importantly, he again ruled out any possibility of Greece defaulting. (ANA-MPA)

The government is taking all measures necessary to regain the trust of markets and has succeeded in significantly reducing the country's deficit, either by reducing spending or by increasing tax revenues, he added.

"Markets need time to see and assess the results of the effort," Papandreou said, noting that the bailout package with the Commission, European Central Bank and IMF would buy the time needed for the government to complete a programme of reforms.

He admitted that some of the measures imposed were unfair and the discontent they caused understandable but underlined that they were necessary in order to pull the country out of the crisis. (ANA-MPA)

[02] EU countries, sans Greece, to return to growth rates in 2011, Commission

[03] BoG optimistic over fiscal targets

Addressing a conference organised by the Onassis Foundation, the central banker dismissed analysts' claims that the Greek debt's dynamism was not sustainable and stressed that the Greek economy has significant growth prospects, which could be activated with the contribution of the support package. He added that the support package, agreed between the Greek government with the EU Commission, the European Central Bank and the International Monetary Fund, offered the government a unique opportunity for economic adjustment. (ANA-MPA)

Provopoulos categorically dismissed talks of the euro (ANA-MPA) collapsing saying such rumours were irrational. He admitted, however, that markets in the EU did not have the necessary flexibility, mainly the labour market.

[04] Papoulias receives LA.OS leader

Speaking to the press after the meeting, Karatzaferis said "the political world should assume its share of responsibility despite its apparent inability to do so and the President should not be involved."

Karatzaferis called on the government "to bring the labour relations agreement to the Parliament's plenary session," and lashed out at "those who are making an attempt to implicate the President in the current serious political situation." (ANA-MPA)

He also pointed out that the "crisis creates negative developments in the national issues". (ANA-MPA)

[05] Stocks surge 3.38% on Mon.

The FTSE 20 index rose 3.32 pct, the FTSE Mid Cap index ended 2.53 pct higher and the Small Cap index jumped 3.83 pct. All sector indexes ended higher with the exception of the Media index which fell 2.94 pct. The Food (6.96 pct), Technology (5.99 pct) and Raw Materials (5.13 pct) sectors scored the biggest percentage gains of the day.

Broadly, advancers led decliners by 168 to 25 with another 36 issues unchanged. Ikona-Ihos (20 pct), Pasal (20 pct) and Medicon (19.26 pct) were top gainers, while Akritas (8.97 pct), Haidemenos (6.67 pct) and Cardico (6.25 pct) were top losers.

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