Athens News Agency: News in English, 10-09-03

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

CONTENTS

[01] Papandreou: Dilemma is change, or not

[02] FinMin: No need to restructure debt

[03] Gaziantep mayor, delegation at Athens city hall

[04] 'Positive moves' toward Patriarchate

[05] Stocks end 2.69% up

[01] Papandreou: Dilemma is change, or not

In referring to criticism by the opposition and press coverage of an unofficial "referendum" on the landmark memorandum agreed to by the government with the EU-ECB-IMF "troika" to secure 110 billion euros in loans, Papandreou said:

"I consider that the dilemma, which is political, is to either proceed forward, to change the country, or, to not change the country. It is very easy for someone to invite citizens to vote against the troika. Yet this is not simply a protest vote, but one without substance, as the purpose is to hide real issues that we have to deal with," he said.

Papandreou emphasised that the concept of national sovereignty is sacred for PASOK, which he further added wants a country that can stand on its own two feet.

In recapping his government's first year in power, Papandreou said a deficit in the country's trustworthiness was the greatest problem faced when PASOK took over the government's reins.

He also acknowledged that some of the recent austerity measures were painful, while noting that effects of the memorandum -- "the contract for the support mechanism" -- could have been softened had the government had more time.

Nevertheless, he appeared unwavering in his view of the memorandum's necessity, noting that "if the government had not managed to deal with the issue of a possible bankruptcy, our public wealth would have been left open to the appetites of profiteers and creditors; pensioners would have been left to the mercy of God; the social security system would not exist and public services would not have been able to operate, while basic goods would have been left in the hands of the black market."

In later comments following a meeting with the social partners at the Maximos Mansion, Papandreou said "the danger of the country's bankruptcy has not been eliminated completely although it has been averted in its largest part."

Reiterating his steadfast position that the state constitutes the great "sick man" in Greece, the prime minister stressed that we must not target the civil servant, but public administration as a whole, which is not functioning properly, "first of all with the responsibility of the politicians."

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[02] FinMin: No need to restructure debt

"There is a clear shift in attitude from international observers. Utter dismissal has given way to recognition that progress has been made and even cautious optimism. What lingers is the misplaced belief that, despite its best efforts, Greece will need to restructure its debt in the end. Evidence that this will not happen is accumulating, but proving so beyond doubt will take time. It hinges on sustainable debt dynamics: consistently running primary surpluses and achieving higher growth rates. (ANA-MPA) Evidence for the former is already there; as for the latter, this is the very aim of the reforms under way - to give the economy a supply shock and boost its growth potential," Papaconstantinou wrote in the article.

The government, he explained, "chose to push through the bulk of the reforms in the first few months so as to reap the results as soon as possible". (ANA-MPA)

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[03] Gaziantep mayor, delegation at Athens city hall

The Gaziantep delegation is on an official visit to Greece.

Turkeyâs ambassador to Greece Mehmet Hasan Gogus and deputy mayor for international relations Sophie Daskalaki-Mytilineou were also present at the meeting.

The Gaziantep municipality delegationâs visit to Athens follows an official invitation by Kaklamanis within the framework of the "Cities for Children" programme.

After the meeting, Kaklamanis referred to the importance of "city-to-city diplomacy", while he added that 20 children from Gaziantep will be hosted at the City of Athens' children's campsite next year.

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[04] 'Positive moves' toward Patriarchate

Speaking during an interview with the Church of Greece radio, Droutsas also pointed out that the road ahead "was long and not easy". Among the positive steps he cited the permission given to hold a mass in the courtyard of the historic Panaghia Soumela monastery on the August 15 Feast of the Assumption, as well as the opening of the Halki School of Theology to host an art exhibition.

"We should look at these positive steps and welcome them but know that the road will be neither easy nor short," he underlined, stressing that Greece will always stand by the side of the Ecumenical Patriarchate and the Ecumenical Patriarch in this journey.

The alternate foreign minister pointed out, meanwhile, that Turkey has undertaken obligations as a candidate member of the EU and that much remained to be fulfilled.

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[05] Stocks end 2.69% up

The Big Cap index rose 2.96 pct, the Mid Cap index ended 1.30 pct higher and the Small Cap index ended 1.29 pct up. Broadly, advancers led decliners by 117 to 42 with another 44 issues unchanged.

Financial Services (4.98 pct), Telecoms (3.76 pct) and Banks (3.25 pct) scored the biggest percentage gains of the day, while Chemicals suffered losses (-1.40 pct).

Mathios (16.67 pct), Vell Group (12.20 pct) and Vivere (10 pct) were top gainers, while Druckfarben (19.51 pct), Tegopoulos (10 pct) and Edrasi (10 pct) were top losers.

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