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tommy271

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Samaras: 'IMF recourse was planned'





(ANA-MPA) -- Main opposition New Democracy (ND) leader Antonis Samaras on Thursday again lashed out at Prime Minister George Papandreou, accusing him of "misleading the people" as regards the latter's contacts with the IMF ahead of an eventual EC-ECB-IMF bailout.
"Greece needs a restart on all levels," was the ND president's comment.
Addressing a gathering of military veterans at the ND headquarters in Athens, Samaras said the country's recourse to the IMF's assistance was planned.
"When Papandreou was insisting that '(surplus) money exists' and was declaring that seeking IMF assistance was out of the question, at the same time, he was planning exactly the opposite by secretly negotiating the country's submission. Everyone who listened to Strauss-Kahn's statement has no doubts about it. He is saying clearly that the country was under the IMF in just 15 days because of months-long, under-the-table negotiations that had taken place in advance," Samaras stressed.
He also referred to the updated economic programme to be unveiled by ND on May 12, pointing out that it "takes under consideration the current adverse circumstances, includes well-targeted actions that can be implemented soon with visible results and recommends actions and measures that can pull the country out of the crisis. This is a New Contract that we will propose to the Greek people".
Commenting on the statements made by Foreign Minister Dimitris Droutsas that Greece will not claim the Exclusive Economic Zone (EEZ) immediately to avoid putting a stress on the talks, Samaras said "this is a cause of concern. The government refuses to activate an internationally guaranteed right of our country sending the wrong signals to the other party thus leading to negative consequences."
He underlined that "Turkey's demand for a 50-50 division is categorically rejected. "We insist that claiming the EEZ will fully guarantee our national interests within the framework of the international law," he said.
Referring to Turkey's attitude toward Greece, he underlined that "Turkey continues to provoke and question our national sovereign rights. Its stance is problematic and provocative."
He characterised the continuation of what he claimed was "secret diplomacy" by the government as "incomprehensible" and added that the "Turkish provocation can only be met with a firm deterrence policy backed by strong, well-trained armed forces and clearly defined 'red lines' that will not be crossed under no circumstances, as well as by national policies in Cyprus, the Aegean, the fYRoM 'name issue' and the rights of the ethnic Greeks in southern Albania."
Samaras underlined that ND is fighting to "restore the part of national sovereignty that was forfeited by the PASOK government when it signed the memorandum".

(ana.gr)

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Toni un pò alti da parte di Samaras, probabilmente per assecondare la platea riunita per ascoltarlo.
 

tommy271

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Greek Banks Under Severe Pressure



National Bank ended below €5 on Thursday, a development that reflects the situation of the Greek banks’ shares, after a prolonged period of speculation about the fate of the country’s debt. No positive news is expected in the near future that could reverse the market sentiment and trigger an upward reaction.

The Greek stocks continue to slide to new lows, with few and minor transactions, in an environment of shallow trading and low ask-side interest.

The sum of capitalization of the five largest banks is below €12b, while the total capitalization of the Greek market has fallen to €54b.

According to Hellenic Exchanges, the total value of transactions in the Athens Stock Exchange was reduced by 65% compared with April 2010, at €1.64b, while the monthly decline compared with March 2011 stood at 37%.

"The recent market decline continues because of the lingering uncertainties," a local analyst told Dow Jones Newswires. "And most investors are in a wait-and-see mode, waiting to hear about the new government measures expected by the end of next week."

Across the board, the General Index ended at 1,378.05, down 0.69%, moving in negative territory for the biggest part of the trading session into a margin of 23.5 units or 1.7%. Approximately 18.14 million units worth €69.99 million were traded on Thursday, while a total amount of 75 shares recorded losses, 57 rose and 149 remained unchanged.

Banks closed at 1,015.47 units, declined by 0.94%, with only Attica Bank (+1.18% at €0.86) and Bank of Cyprus (+0.86% at €2.34) ending on positive grounds.

On the contrary, Eurobank and Geniki Bank bore the heaviest pressures, with losses of 3.41% and 3.28% respectively, while Hellenic Postbank and Alpha Bank retreated by 1.17% and 1.91% respectively. Marfin Popular Bank and Piraeus Bank declined by 1.28% and 0.96% respectively.

(capital.gr)
 

tommy271

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Foreign Investors Increase Holdings in Greek Bourse in April

By Eleni Chrepa - May 5, 2011 5:20 PM GMT+0200


Thu May 05 15:20:43 GMT 2011
Foreign investors increased their share of stocks listed on the Greek stock exchange in April, according to data released by the country’s Central Securities Depository today.
Non-resident investors held 50.8 percent of the market value of all stocks listed on the Athens Stock Exchange in April, compared with 50.3 percent in April 2010. In March, foreign investors owned 50.2 percent, according to figures released on April 6.
Greece’s benchmark ASE share index is down 2.5 percent so far this year, after a series of press reports claiming Greece is in talks about debt restructuring. Foreign investors accounted for 51 percent of total turnover in April, according to today’s statement.



(Bloomberg)
 

tommy271

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Haircut not an option: Greek Banker

Thu, May 05 2011, 15:52 GMT | Forex Live
By: Jamie Coleman

Bloomberg reports the CEO of National Bank of Greece says a haircut for holders of Greek debt is not an options. NBG is no doubt a major holder of Greek government debt... Restructuring talk is not useful, he says.
 
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