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tommy271

Forumer storico
‘Yes’ to Democratic Alliance


By Jorgo Chatzimarkakis (1)

The entire misery of the Greek economy can be seen in these figures: It’s more expensive to transfer something from Athens to Thessaloniki than from Munich to Athens. You may have noted that Munich to Athens is four times the distance. So why is this? Because Greece is caught in state interventionism and old economic structures.

This is why Greece is in such desperate need of liberalism in its most modern form: sustainable liberalism. Prime Minister George Papandreou is pushing through economic reforms of a liberal approach – absolutely necessary, yes. He is doing a good job. Within the European package, Greece has to painfully accept and implement a program of transition from a state-led economy to an open market environment that showcases private initiative and encourages investment. But it is correct to fear that these measures will simply not suffice. Papandreou has enormous tasks to accomplish: He has to convince the Greeks of his reforms, he has to persuade international markets that he is serious and he has to fight his own party.

On November 21, a new political force was created: With the founding of Democratic Alliance, the liberal project has started. The new movement can fill in the gap created by the social democratic left and the conservative right wing.

Greece, in the current period, is not just affected by the economic crisis. The worst problem is the state’s serious lack of credibility. Greek society is looking for a way out of the vicious cycle of the old system. For many years, the political caste fed a system of waste of public money, corruption and nepotism that contributed significantly to the collapse of the Greek economy. People are demanding a new sustainable vision. This is the new liberal movement’s chance to unify civil society, an achievement for which Eleftherios Venizelos fought but went down in the last decades.

Modern sustainable liberalism is a real opportunity for a new orientation of economic progress in the country. What does modern sustainable liberalism mean? First of all, it means the efficient use of resources. We need to stop wasting resources – not only for the sake of economic growth but mainly for our future. Our economic system needs to respect our grandchildren’s lives. Ecological awareness will result in a better future, including economic sustainability. Secondly, modern liberalism is based on constructive dialogue. Outdated but constant political disputes between parties are no longer appropriate. The new movement can contribute to the country’s modernization with new ideas, actions and most importantly, with new faces. A new type of politician is in the process of being created. The state’s credibility also depends on the state’s personnel. Bureaucrats seeking their own advantage are as dangerous to the modern state as is the populist politician. The political personnel needs to canvass and convince voters, listen to them and propose real actions instead of buzzwords.

For Greece, this indicates a whole range of issues to be urgently dealt with: rethinking Greece’s economic foundations, concentrating on education, providing better living conditions. For example, why not base the Greek economy on health? Surprising, maybe. But very innovative: Greece has the perfect climate, environment and a healthy diet – the country could become a major destination for health tourism. Health, both physical and mental, if placed at the center of political activity, not only creates jobs but also improves individual well-being.

Another area in which to base growth is information technology. There is space for creating IT applications in many fields, as there are in security, education, health, and culture. Greece should get ready to ascend to the “Olympia” of European information technology.

To achieve a real turnaround in Greek economy and lifestyle, the new party must focus on education. Greek children will need to become the best-prepared children in the world. There is a rich history to draw lessons from, to get the foundation for innovation and development. And it doesn’t end with school: Study programs aiming at healthy lifestyles or innovative thinking would ensure people’s participation in society and enable a free and self-determined life.

Greece has all the preconditions for becoming a prosperous country people want to remain in: Stop the brain drain. An enormous target of the new political party will be to encourage young people, provide opportunities, trust in their competencies and will to improve. Every young talent leaving the country equals a lost opportunity.

The political system of the future is defined by new coordinates: sustainable liberal values leaning on the civil foundations of the rule of law are at its center. And, apart from the different political parties, movements and forces, Greeks could again unite behind an idea, pushing the Greek state forward. The Greeks – both local and abroad – love Greece. However, they are troubled by the Greek state. Greeks want a European, sustainable and liberal Greece that works. A Greece to highlight their skills and work. A Greece providing opportunities. And Greeks are ready to work hard to make these dreams come true. This should guide the new party’s agenda.


(1) Jorgo Chatzimarkakis is a member of the European Parliament with the Free Democratic Party of Germany.

(Kathimerini.gr)
 

tommy271

Forumer storico
DJ: Greece’s Oct Private Sector Deposits At EUR211,5 Bil.



Greek business and household bank deposits at the end of October shaped at EUR211.5 billion compared to EUR212.8 billion at the end of September, Bank of Greece said Wednesday, Dow Jones Newswires reports.

Deposits have fallen 11%, or by EUR26.5 billion, since the start of the year.

The news agency notes that with deposits down, most Greek banks depend heavily on the European Central Bank for liquidity as they are frozen out from interbank market borrowing.

(Capital.gr)

***
Lieve calo dei depositi ad ottobre rispetto a settembre.
 

frmaoro

il Fankazzista
Crisi/ Wsj: Spagna, Italia e Portogallo vogliono intervento Bce
Lunedì scorso incontro a Tripoli dei tre leader
di
Pubblicato il 02 dicembre 2010 | Ora 11:27
Fonte: Apcom
Commentato: 0 volte

Roma, 2 dic. (Apcom) - Spagna, Italia e Portogallo premono per un intervento più deciso da parte della Banca centrale europea, per scongiurare il rischio di un contagio della crisi del debito che finora ha investito Grecia e Irlanda. Oggi si riunisce a Francoforte il Consiglio direttivo della Bce. Stando a quanto riferito da alcuni funzionari al Wall Street Journal, Italia, Spagna e Portogallo "hanno fatto pressioni, in privato, per un intervento forte e deciso da parte della banca centrale". I leader dei tre Paesi, Silvio Berlusconi, Jose Luis Rodriguez Zapatero e Jose Socrates, si sarebbero riuniti lunedì scorso a Tripoli, in Libia, con il Presidente dell'Ue, Herman Van Rompuy, e il Presidente della Commissione Ue, Jose Manuel Barroso, per discutere della crisi. (segue)
 

giacolo

Nuovo forumer
In Grecia il settore della navigazione è praticamente uno dei traini forte dell'economia che si allaccia chiaramente al turismo internazionale e locale gli armatori greci sono cresciuti sia nel traffico interno che esterno purtroppo però sono anche fortemente indebitati e se 2/3 anni fa sicuramente il traffico ripagava oggi la concorrenza internazionale il calo dei traffici merci che viaggiano su rotabili e container stanno penalizzando il settore poi la politica inetta e corrotta precedente a Papandreu hanno portato allo stato attuale il paese. Buon lavoro
 

tommy271

Forumer storico
In Grecia il settore della navigazione è praticamente uno dei traini forte dell'economia che si allaccia chiaramente al turismo internazionale e locale gli armatori greci sono cresciuti sia nel traffico interno che esterno purtroppo però sono anche fortemente indebitati e se 2/3 anni fa sicuramente il traffico ripagava oggi la concorrenza internazionale il calo dei traffici merci che viaggiano su rotabili e container stanno penalizzando il settore poi la politica inetta e corrotta precedente a Papandreu hanno portato allo stato attuale il paese. Buon lavoro

La Grecia si piazza al secondo posto (dopo la Cina) a livello mondiale, sul fronte Shipping.
I proventi rappresentano la seconda voce del PIL dopo il Turismo.
Lo stato complessivo del naviglio è buono e "giovane". Ad ottobre i cinesi hanno aperto una linea di credito da 5 miliardi di euro per l'acquisto di nuove navi.
Anche qui i fatturati si stanno riprendendo.
 

tommy271

Forumer storico
Tough Negotiations On The Extension Of The Repayment Period



Greek Government is planning a four-day round of tough negotiations both in Brussels and Athens for extending the repayment the EU loan.

Officials from the Ministry of Finance leave on Monday for the two-day ECOFIN meeting in Brussels, although Greece is not included in the official agenda.

It is understood that Ireland will be in the spotlight, along with a possible request by Portugal for the activation of the bailout mechanism, and the details of the reform of EU’s economic governance as well as the possibility of issuing Eurobonds.

Finance Minister George Papaconstantinou will have talks on the sidelines with his counterparts in order to overcome opposition and to achieve rapid political commitment to the extension. The president of Council of Economic Advisors (SOE), G. Zanias who appears to be a key-person for the Memorandum, will also take part in these discussions.

The Minister’s schedule will be very tight as the officials have to be back in Athens on Tuesday afternoon to attend other meetings.

On Tuesday, IMF’s director Dominique Strauss Kahn arrives in Athens, while European Commissioner Olli Rehn arrives on Thursday for further negotiations.

Meanwhile, Troika demands progress proof, piling the pressure on Greek Government for new bills and interventions next week.

The Minister of Finance, targeting more overseas, talked about selling ATE’s (Agricultural Bank of Greece) holdings and consolidation with the Loan and Consignment Fund. He also admitted that some civil servants are paid excessively high. According to sources, that meeting’s aim was to convince MPs of the need for reform.

Same sources say that despite the calm public statements, Troika’s officials are very aggressive. They made it clear that in case Greece delays the implementation of Memorandum, the country may not receive the fourth loan installment.


The schedule appears to be really tough as a lot of bills and reforms have to be brought forward. Greek Ministers have open issues for the coming quarters, hoping for a “soft” approach, but it is unlikely that the troika will accept it.

(Capital.gr)
 

tommy271

Forumer storico
Athens Stocks Firmer On Thursday



Athens Stock Exchange extends its gains as the General Index hit 1.500 points Thursday morning but nervousness is intense just before ECB’s Jean Claude Trichet speaks at a news conference.

The expected press conference of the Head of the European Central Bank draws the attention, where the Frankfurt-based bank may announce new measures to limit the spread of the debt crisis in the Eurozone.

The oversubscribed auction of the three-year Spanish government bonds is also on the spotlight, with the Iberian state raising about 2.5 billion euro, but with significantly increased costs.

“It was nice to see the Athens market reacting strongly, although the force of the ascension surpassed our expectations. Following 5 weeks of correction, the market reacted in what seems to be an optimum fashion, with trading volume steadily increasing and bid-side interest remaining strong throughout the whole session. We consider that this is the 1st instance after quite some time that the upward scenario seems to be so promising, a trend which would be fortified hould potential announcements on the ECB front concerning the debt Euro-zone situation were announced during December. In this context, we expect the GI to open on slightly higher grounds today, possibly approaching the 1,495 units
which consist today΄s 1st resistance level, with short-term profit-taking weighing heavily on the Index΄s course thereinafter, possibly bringing the market towards the 1,475 (yesterday΄s close) - 1,455 (pivot point) units,” Pegasus Daily says.

“Domestic market could reiterate the positive sign, as ECB seems to be determined to deal with Euro zone’s periphery debt crisis quite drastically. Banks should once again be in the spotlight”, reports Marfin Analysis.

Kyprou Securities states that even yesterday’s rise inspires optimism, there is still reticence as the big picture hasn’t changed dramatically. “We need to wait and see if the strong sessions will prevail over last several months’ weak sentiment. Decreasing the equity part of our portfolio at the current low prices would not be a wise strategy but at the same time we would not increase our positions on the ASE yet”, Kyprou Sec adds.

The General Index is at 1483.88 units, up 0.26%. Earlier, it had recorded gains up to 2.00% at 1503.91 units. So far the trading volume is 17 million units on a total turnover of 58.3 million euro, with 89 shares rising, 58 remaining unchanged and 56 declining.

(Capital.gr)
 
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