Athens Macedonian News Agency: News in English, 14-09-22

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

CONTENTS

[01] Public sector union ADEDY calls for strike on Tuesday

[02] Greek current account surplus up 42.4 pct in Jan-July‏

[01] Public sector union ADEDY calls for strike on Tuesday

The union also decided to launch a new round of abstention from "all processes related to the evaluation in the public sector" and the procedures related to the conversion of fixed-term contracts to indefinite ones and to the individual appraisal of teachers.

ADEDY's executive committee has accused the government among others of "using justice to deal with public employee's labour action and of implementing a criminalization policy of the union struggles aimed at abolishing the right to strike."

ADEDY has also called for a rally on Tuesday at 09.30 outside the Areios Pagos Supreme Court, where the hearing of the State's motion against the decision on Finance ministry cleaners is taking place.

[02] Greek current account surplus up 42.4 pct in Jan-July‏

The central bank, in a report, said that the current account surplus totaled 567 million euros in the seven-month period, from a surplus of 399 million euros in 2013, helped by improving balances of services and incomes.

On the other hand, the country's trade deficit grew by 984 million euros in the January-July period. Exports (excluding ships and fuel) totaled 8.4 billion euros, up 4.3 pct from 2013, while imports totaled 12.96 billion euros, up 1.0 pct.

The 1.7 billion rise in the surplus of the services balance is due to increased net transport receipts, as well as higher net receipts from travel and other services. As regards travel spending by non-residents in Greece, a year-on-year increase of 13.8 pct was recorded, reflecting a 20.8 pct rise in non-residents' arrivals, the central bank said in its report.

The income account deficit fell by 534 million euros, mainly as a result of lower net interest payments. Finally, the current transfers balance showed a surplus of 2.8 billion euros, down by 1.1 billion year-on-year, mainly as a result of a decline in general government transfer receipts under the Securities Markets Programme (SMP) in July, as mentioned above.

In the January-July 2014 period, the overall transfers balance (current transfers plus capital transfers) recorded a surplus of 4.6 billion euros, down by 2 billion year-on-year. In the January-July 2014 period, non-residents' direct investment in Greece showed a net inflow of 1.0 billion euros, while residents' direct investment abroad showed a net outflow (increase) of 304 million. Under portfolio investment, a net inflow of 3.8 billion euros was recorded, mainly on account of a rise in non-residents' holdings of shares of Greek firms. This development was partly offset by a net increase in residents' holdings of foreign bonds, Treasury bills and financial derivatives. Under "other" investment, a net outflow of 5.6 billion was recorded mainly on account of a decline (outflow) in non-residents' deposit and repo holdings in Greece, which was largely offset by a net increase (inflow) in the outstanding debt of the public and the private

sector to non-residents and a net decrease (inflow) in residents' deposit and repo holdings abroad.

At the end of July 2014, Greece's reserve assets stood at 5.0 billion euros, compared with 4.6 billion at the end of July 2013.

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