Athens Macedonian News Agency: News in English, 15-04-06

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

CONTENTS

[01] Parliament to decide on proposal for parliamentary probe into memorandums

[02] Economy Minister Stathakis on bad loans

[01] Parliament to decide on proposal for parliamentary probe into memorandums

The debate on the proposal submitted by SYRIZA and Independent Greeks (ANEL) will start at 18.00. Under the standing orders of the Parliament, the decision can be taken by the absolute majority of those present, which cannot be less than the 2/5 of the total number of deputies.

Investigation committees have the jurisdiction of the investigating authorities as well as of the misdemeanor prosecutor and can conduct any necessary investigation so as to accomplish its objective. The parliament has the power to limit the committee's authority.

The parliament's investigation committee has the right to ask public authorities, administrations of public and private legal entities as well as citizens for oral or written information. It can also ask for public and other documents that exist in the state files.

Ministers are obliged to hand in the original or certified copies of the documents requested by the committee. However, the minister may not hand in such documents if he reckons that their release could hurt the country's interests, especially in cases of diplomatic or military secrets relating to the security of the country.

[02] Economy Minister Stathakis on bad loans

According to the minister, there will be a legislative amendment aimed at the radical relief of debtors and a comprehensive settlement of private debts with solid social criteria and with a view to creating the conditions so that bad loans can become performing and be serviced in the best way possible.

The minister said this plan includes two parts: the setting up of a fund to which the loans of over-debted poor households will be transferred and the reform of the current law on the business loans of small and medium-sized companies.

However, the "technical aspects and requirements of this regulation are being considered while a consultation with all involved parties is underway. There procedures are expected to be completed in approximately six months."

The document was a response to a query submitted by New Democracy deputy Anna Karamanli on whether business that hold Greek government bonds which underwent a "haircut" can make use of the bad loans settlement.

Moreover, the minister noted that the government has submitted a proposal for the setting up of an investigation committee that would look into the events that led up to the country's entry in the two bailout agreements as well as into the conditions under which the PSI was carried out, a development that led to the write down of the reserves of the social security funds, the economic catastrophe of small bondholders and to the need for the recapitalization of the banks.

He also noted that there would be an investigation into the banks' mergers and acquisitions, the selection criteria for the systemic banks and any other relevant issues including the operation of the Hellenic Financial Stability Fund (HFSF).

In a separate document signed by the minister and submitted to parliament on April 1, following a query by SYRIZA MP Ilias Kostopanagiotou on property foreclosures, Stathakis reiterated that a legislative amendment on the issue is imminent.

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