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Athens Macedonian News Agency: News in English, 15-07-31
CONTENTS
[01] Banks, privatisations and fiscal targets dominate marathon meeting
with creditor 'Quartet'
[02] Stock market likely to open on Monday, Botopoulos tells CNBC
[01] Banks, privatisations and fiscal targets dominate marathon meeting
with creditor 'Quartet'
ANA-MPA -- Recapitalising the banks, fiscal targets and Greek proposals
for the privatisations fund were the first order of the day during
intensive talks held by Finance Minister Euclid Tsakalotos and Economy,
Infrastructure Shipping and Tourism Minister George Stathakis on
Friday with the "Quartet" - the heads of missions sent to Athens by the
institutions representing Greece's creditors (the European Commission,
European Central Bank, International Monetary Fund and European Stability
Mechanism).
According to a government official, the issue of prior actions was not
raised during the meeting. In statements afterward, Tsakalotos said
that a large chunk of the six-hour meeting had focused on recapitalising
the banks based on current developments in the financial system and the
Greek side's proposals for the privatisations' fund, with the twin aim
of both paying down debt and directing funds toward economic growth.
At the same time, particular weight was given to fiscal targets for
the next three years in order to reach a primary surplus of 3.5 pct
of GDP in 2018. The talks also raised organisational issues, such as
where the meetings will be held and how problems that arise will be
promptly addressed so that there are no misunderstandings or differences
between the various sides involved. Friday's meeting was held at the
hotel where the mission chiefs were staying. The finance minister said
that there was "convergence" on some points and less on others, adding
that the discussion was held in a good atmosphere and will continue.
The 'Quartet' has now made its way to the Bank of Greece, where they
will meet BoG Governor Yannis Stournaras.
[02] Stock market likely to open on Monday, Botopoulos tells CNBC
ANA-MPA -- The Greek stock exchange will open again on Monday, according
to statements made by the Hellenic Capital Market Commission Chairman
Konstantinos Botopoulos to CNBC.
He said the stock exchange was nearly ready to go back online as regards
technical issues, provided the necessary ministerial decision was issued
and whether banks had overcome technical problems in their IT systems
that must be adjusted to the new environment created by the restrictions
for Greek investors. Botopoulos said that testing will be conducted
over the weeken and, if all goes well, the Athens stock market will open
again on Monday.
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