DOCSLIB.ORG

Research & Analysis Department

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Research & Analysis Department Research & Analysis Department 2 Ag. Theodoron Sq, 105,61 Athens, Greece Tel. +30 210 3212947 DAILY REPORT Fax: +30 210 3314355 14/01/13 43godgr 6Months Market Comment A new week with base the good performance of the last sessions… With great interest we expect the current week, following the very Closing good performance of the last sessions and with the eyes to be in Indices 11/01/13 Chng.% YTD the news from the economy. More specifically, the government ASE General 979.72 -0,52 7.91% FTSE Large CAP 333.57 -0,88 7.71% should close the last open issues ahead of the return of Troika in FTSE Mid Cap 1,286.41 -1.84 13.52% Athens so that at the next Eurogroup it will be decided the ATHEX / ALL SHARE INDEX 256.11 -0.64 8.21% unfrozen of a part of the loan. BANKS 232.99 -3,26 2.97% TELECOMS 1,566.21 0,18 11.57% CONSTRUCTION & In the Athens exchange and as matter the diagrammatical MATERIALS 2,049.88 -2,29 11.65% TRAVEL - LEISURE 1,188.12 -0,20 17.71% analysis, the picture of the General Index remains very positive Lucas Papademos was given by ATHEX STATISTICS (11/01/13) with the target to be the next, very strong, resistances, to be found A.G.High/Low 989.05 968.83 in the levels of 1.050 points approximately. We just remind that Ups/Down/Stable 86 85 113 New penetration of the above levels (whenever it will happen) will Turnover 72,460,520 High/Low 0/0 Avg. Turnover (ytd.) 62,696,560 open the road for a movement considerably higher, with the next Pieces 50,319,176 target in the levels of 1.250 – 1.300 points. As matter the FTSE Market Cap. 37,113 ,624,830 Market Cap./GDP 20.39% 25, the big question not only for the index, but also for the market Block Trades 7,242,557 is to remain above the levels of 320 – 325 points. In the case of ATHEX VALUATION the bank sector index, it is extremely important the index to ASE GEN. IND remain above the levels 210 – 220 points. It should be noted that a P/E RATIO (EATAM) P/BV movement below these levels will open the road for a movement D.Y. considerably lower, even 40 to 50%. FTSE 20 P/E RATIO (EATAM) P/BV D.Y. Important Corporate & Macroeconomics News and Comments FUTURES FTSE Large CAP Set/ment Chng.% Volume Dec 12 338.25 1.4 3,024 PM: No relaxation, danger of relapse lurking Prime Minister Antonis Samaras called for a wider alliance among political parties and figures in order the reforms policy to be supported, in an FTSE MID CAP Set/ment Chng.% Volume interview with Sunday newsparer "To Vima". "We are open to everyone" said Samaras who warned that the difficulties are ahead of us and clarified that we have "survived the 'drachmophobia' ". Samaras also stressed that INTERNATIONAL INDICES there must be no relaxation of the effort because the danger of relapse is Closing* lurking. The premier noted that the "changes can already been seen, other Indices 11/01/13 Chng.% YTD small and other larger" adding that the government has met its targets DOW JONES 13,488.43 0,13 2.93% regarding the reduction of the debt . S&P 500 1,472.05 -0.01 3.22% NASDAQ 3,125.64 0,12 2.47% DAX 7,715.53 0.09 1.35% Fiscal policy bill passes committee vote FTSE 100 6,131.58 0,33 3.96% The fiscal policy draft bill made it through the Parliament's economics CAC 40 3,706.02 0,08 1.78% committee by majority vote on Saturday, and will be presented to the Italy 17,502.39 0.29 7.61% plenary session for final voting on Monday. The Independent Greeks, the Spain 8,664.70 0.53 7.34% only opposition party not to walk out, voted against the bill. Deputy Finance Minister Christos Staikouras said the measures provide a NIKKEI 225 10,801.57 1,40 3.91% comprehensive and cohesive network of fiscal rules and practices that will Hang Seng Index 23,264.07 -0.39 2.68% contribute to bringing order to state finances. In his speech to the FX EURIBOR committee, he placed particular emphasis on the the issue of debt EUR/USD 1.380 1 M 0,111 repurchasing, saying that the bill includes "a series of important EUR/GBP 0,8271 3 M 0,195 regulations that have proved to be necessary for the continuation of the USD/JPY 89.170 6 M 0,331 financial inflow by the support mechanism and the release of the loan EUR/JPY 118.897 12 M 0,559 tranche." *Except Asian Markets: Last Update 7:30’ - Local Time (GMT+2) BRENT 111,4 GOLD 1568,81 Continue… PALLADIUM (euro) 15725 SILVER 687,24 PLATINUM (euro) 36889 IRIDIUM 27577 I Research & Analysis Department 2 Ag. Theodoron Sq, 105,61 Athens, Greece Tel. +30 210 3212947 DAILY REPORT Fax: +30 210 3314355 He mentioned among others that a debt repurchase of 31.9 billion euros at an average 33 pct on the bond's face value meant the debt was reduced by 21.1 billion euros, bringing the remaining debt within the parameters set by the IMF in order for the debt to qualify as viable. "Because of the repurchase, the IMF is continuing its funding of the Greek program," he said. Staikouras added that the return on treasury bills dropped from the 15-17 pct interest before the repurchase to 9-10 pct now, shortening the time Greece will need to return to the markets again, and making investments in the real economy more attractive, either through privatization or direct investments. PPC rates increase as of this month: Public Power Organisation (PPC) household rates rose by 8.6-9.2 pct as of January 1, the Environment, Climate Change and Energy Ministry announced on Sunday. Industry and commercial rates have been raised by 10-12 pct. Moreover, the announcement said that further increases on PPC bills may be applied in the first six months of 2013, ahead of the rates' deregulation going into effect from June 1. As of January 1, a Renewable Energy Sources tax of 9 pct has been added to PPC bills. Greece to sell three-month T-bills on January 15: Greece will auction 1.25 billion euros ($1.65 billion) of three-month T-bills on Jan. 15, the country΄s debt agency PDMA said on Friday. The T-bills will be sold into a rollover. The settlement date will be Jan. 18. Only primary dealers will be allowed to participate and no commission will be paid, Reuters reported. Monthly T-bill sales are Greece΄s sole remaining source of market funding. Greek banks buy the bulk of the issues and deposit them as collateral to draw liquidity from the central bank. OPAP agents call off their strike OPAP-affiliated betting agents have suspended their industrial action for now after receiving assurances from the government regarding their main demand. Agents want to have the application of the 10 percent tax on all earnings, even those under 100 euros, abolished, and the Finance Ministry informed them that the European Commission has agreed to the change in the law’s clause regarding taxation of earnings up to 100 euros. The government has therefore committed itself to changing the law, but the agents will reconvene next week to examine the progress of their demand. They are also worried about the consequences that the sale of the state’s 33 percent stake in OPAP will have on them. The five-day strike that most betting agents staged this week has cost OPAP more than 40 million euros in gross profits, and the state some 16 million euros in tax. The average gross profit per day for OPAP, including weekends, amounts to some 10.5 million euros. Budget cuts must go on, EU's Rehn says Europe will need more spending cuts to emerge from its debt crisis despite an admission by the International Monetary Fund that cost cutting can choke economies, the EU's top economic official said on Friday. The damage from aggressive austerity may be up to three times more than previously thought, the Washington-based lender said late last year, after earlier prescribing sharp deficit cuts to the eurozone. It has since shifted its advice, now arguing against forcing heavily indebted countries such as Greece to reduce their deficits too quickly. The EU Economic and Monetary Affairs Commissioner Olli Rehn said the IMF's October study, which was updated this month, was not applicable to everyone and did not take into account that investors expect governments to act to control their debt. "You have to take into account the confidence effect,» Rehn told diplomats and executives during a speech in Brussels, adding that the impact of austerity differed across countries depending on whether they still had access to markets. The difference in opinion appears to mark a split within the «troika» of international lenders - the Commission, the IMF and the European Central Bank - over how to deal with fragile European economies trying to pull out of recession in 2013. Against a backdrop of record unemployment, many economists believe spending cuts in almost all euro zone countries drove the bloc into its second recession since 2009 last year. But ECB chief Mario Draghi rejected any idea of easing up on efforts to reduce sovereign debt.
Load more

Recommended publications
  • Greece: Leaping Into the New Decade
    GREECE CONTENT FROM COUNTRY REPORTS CONTENT FROM COUNTRY REPORTS GREECE As part of the government’s aim to bolster key sectors of Greece’s economy, it Greece: Leaping into the new decade is working with the UGS and others to further develop the cluster through measures that should, among other things, attract new ship registrations and A new government acts quickly to stimulate growth and investments investment in maritime education and technology. Another vital sector being reinvigorated is pharmaceuticals. During the financial crisis, austerity measures limited the advance of a manufacturing industry that was worth €954 million in 2017 and represents 4.3 percent ON “Greece is back,” was Prime Minister Kyriakos Mitsotakis’ message to U.S. I of Greek exports. “The prime minister has now announced that companies OT investors at a conference in New York last month. M will be able to reclaim up to €50 million for investments in pharmaceutical L- Harry Nardis Konstantinos Pantos Chris Theophilides IA Europe’s southernmost nation was hit hard by the global financial crisis but R production and research and development (R&D), including clinical trials. Chairman and MD Founder CEO E Astellas Genesis Athens Celestyal Cruises signaled its intention to take an economic leap forward in July 2019, when it / A It’s a step in the right direction,” says Olympios Papadimitriou, president of K Pharmaceuticals Clinic elected Mitsotakis as the head of a new pro-business government. According the Hellenic Association of Pharmaceutical Companies. Recent international
    [Show full text]
  • Greece Political Briefing: Greek Politics in 2019 George N
    ISSN: 2560-1601 Vol. 24, No. 1 (GR) Dec 2019 Greece political briefing: Greek politics in 2019 George N. Tzogopoulos 1052 Budapest Petőfi Sándor utca 11. +36 1 5858 690 Kiadó: Kína-KKE Intézet Nonprofit Kft. [email protected] Szerkesztésért felelős személy: Chen Xin Kiadásért felelős személy: Huang Ping china-cee.eu 2017/01 Greek politics in 2019 Following 4,5 years of SYRIZA (and Independent Greeks) administration, Greece saw a governmental change in 2019. The conservative New Democracy won the national election of 5 July and Kyriakos Mitsotakis became the new prime minister. While the first semester of the year was full with political tensions in view of the national election, the second was relatively calm. The government of New Democracy enjoyed a grace period and was not encountered with significant political challenges. The law allowing Greeks living abroad to vote was one of its successes and received broad political support. 2019 was an election year for Greece. All opinion polls were suggesting that the governing SYRIZA party would lose the national election to the main opposition New Democracy party. This happened in July indeed. The way until the national election was full with political tensions. The year started with the coalition government of SYRIZA-Independent Greek charting separate courses after 4,5 years of close cooperation. The main reason for the divorce was the opposition of the leader of Independent Greeks and Defense Minister Panos Kammenos to the Prespes Agreement signed between Greece and North Macedonia. When this Agreement came to the Greek Parliament for approval, Kammenos withdrew his support to the Greek government.
    [Show full text]
  • CHRISTOS STAIKOURAS Member of the Greek Parliament (MP, New Democracy) Assistant Professor, Athens University of Economics and Business
    CHRISTOS STAIKOURAS Member of the Greek Parliament (MP, New Democracy) Assistant Professor, Athens University of Economics and Business Ι. PERSONAL INFORMATION Date of birth: August 12th, 1973 Place of birth: Lamia Status: Married Address: Eleftheriou Venizelou 50, 111 47, Galatsi ΙΙ. EDUCATION 10/1997 – 05/2001 PhD in Banking, Department of Banking and Finance, Cass Business School, City University, London 09/1996 – 11/1997 Master in Business Administration – Μ.Β.Α., Management School, Imperial College of Science, Technology and Medicine, University of London, London 09/1991 – 06/1996 Diploma in Mechanical Engineering, Department of Mechanical Engineering, National Technical University of Athens, Sector of Industrial Management and Operational Research ΙΙΙ. SCHOLARSHIPS 10/1997 – 09/2000 Scholarship from the “Eugenides Foundation” for postgraduate studies (PhD) in the U.K. 09/1996 – 09/1997 Scholarship from the “Eugenides Foundation” for postgraduate studies (MBA) studies in the U.K. ΙV. WORK EXPERIENCE 07/2006 –09/2007 Assistant Professor, Department of Accounting and Finance, Athens University of Economics and Business 1 07/2002 – 07/2006 Lecturer, Department of Accounting and Finance, Athens University of Economics and Business 09/2004 – 08/2007 Member of the Teaching Staff, Postgraduate Programme in Banking, Greek Open University 02/2004 – 09/2004 Part time Lecturer, Department of Economic Studies, University of Thessaly 07/2002 – 01/2004 Special Advisor, Strategy, Investment and Planning Division, EFG Eurobank Ergasias 02/2002 – 09/2002 Part time Lecturer, Department of Accounting and Finance, Athens University of Economics and Business 08/2000 – 06/2002 Analyst, Strategy, Investment and Planning Division, EFG Eurobank Ergasias 01/2000 – 06/2000 Research Assistant, Financial Surveillance Division (G10), Bank of England 09/1999 – 12/1999 Visiting Lecturer, Department of Banking and Finance, Cass Business School, City University V.
    [Show full text]
  • FOR IMMEDIATE RELEASE: Axia Ventures Group Supports The
    FOR IMMEDIATE RELEASE: Axia Ventures Group supports the American-Hellenic Chamber of Commerce 23rd annual conference in Athens Athens, Greece – December 5, 2012 – The American-Hellenic Chamber of Commerce annual events have become synonymous with the best in their class business conferences in Greece. The 23rd such event proved to be no different. Suitably entitled ‘The Greek Economy: State Reform—The Cornerstone for Investment and Development’, the conference took place on the 3rd and 4th of December at the Athenaeum Intercontinental hotel and proved to be a renowned success with over 400 attendees marking their presence. Introduction and opening remarks were made by a number of influential speakers, including His Excellency Daniel Bennett Smith, the Ambassador of the United States of America to Greece; Evangelos Venizelos, President of PASOK party; and Christos Staikouras, Greece’s Alternate Finance Minister, among others. The conference was then followed by presentations and panel discussions extending into a range of sessions: ‘Major State Reforms as a Prerequisite for Attracting Investment in Greece’, ‘Helping Greece Addressing its Challenges’, ‘Τhe Greek Economy and the Role of the Banking Sector in the Development of Greece’, ‘Major Business Opportunities for Investing in Greece’, ‘Τhe Potential for Economic Development through Energy and Mining in Greece’, ‘Connecting Education with the Business Environment’ and ‘the Strategic Plan for Tourism Development in Greece’. Undoubtedly, the highlight of the conference was the caliber
    [Show full text]
  • 2017 Delphi Economic Forum Speakers • Giorgia Abeltino
    2017 Delphi Economic Forum _Speakers Giorgia Abeltino Director Public Policy of the Google Cultural Institute, Director of Public Policy for Italy, Greece & Malta Helene Ahrweiler Rector, President of the Administration Council of the European Cultural Centre of Delphi Dr. Maria Chr. Alvanou Criminologist, ITSTIME Research Team Savvas Anastasiadis Member of the Parliament, New Democracy party Dr. Despina Anastasiou Regional Leader, Dow Central Europe; President, Dow Hellas Simos Anastasopoulos President, American Hellenic Chamber of Commerce; Chairman and CEO, PETSIAVAS S.A. Dr. Andreas A. Andreadis President, Greek Tourism Confederation - SETE Nikos Andritsos Journalist, Director, SKAI 100,3 Dimitris Androulakis Project Leader, BCG Athens Alexandros Angelopoulos CEO, Aldemar Resorts Eleni Angelopoulou Head of Division in the Crisis Management Division, European Central Ban William J. Antholis Director and CEO, Miller Center, University of Virginia Peggy Antonakou CEO Microsoft Hellas, Cyprus & Malta Eva Antonopoulou Anchorwoman, SKAI TV Pascal Apostolides General Manager, AbbVie Pharmaceuticals SA; President, SFEE Dr. Vassili Apostolopoulos CEO, Athens Medical Group & President of the Board of Directors, Hellenic Entrepreneurs Association Vangelis Apostolou Minister of Agricultural Development & Food Grigorios Apostolou Head of Frontex LO/EUTRF in Greece Nadia Arbatova Head, European Political Studies Department IMEMO, Russian Academy of Sciences Mark Arey Executive Director, The Hellenic Initiative, USA Despina
    [Show full text]
  • Conference Agenda European Semester E-Conference on Greece 2020
    in collaboration with Conference Agenda European Semester e-Conference on Greece 2020 Stimulating a resilient recovery through investments, digital transformation and green economy Wednesday 1 & Thursday 2 July 2020 | 15.00 – 19.00 (Athens time) Day 1 | Wednesday 1 July 15:00 Welcome to e-Conference Day 1 Vasilis Nikitas, Economic Analyst, DG for Economic and Financial Affairs, European Commission Opening Remarks George Markopouliotis, Head of European Commission Representation in Athens Paul Kutos, Head of Unit for Greece, DG Economic and Financial Affairs, European Commission 15:10 Session 1 | EU measures targeting a fast and resilient recovery Paolo Gentiloni, Commissioner for the Economy, European Commission Christos Staikouras, Minister of Finance, Hellenic Republic Moderator: Nikos Vettas, General Director of IOBE, Professor, Athens University of Economics and Business 15:45 Session 2 | Greece in the European Semester Policy Framework post COVID-19 Declan Costello, Deputy Director General, DG Economic and Financial Affairs, European Commission Barbara Kauffmann, Director, DG Employment, Social Affairs, and Inclusion, European Commission Michael Arghyrou, Chairman of the Council of Economic Advisors, Ministry of Finance and Greece’s Representative at the Eurogroup Working Group Moderator: Angelos Athanasopoulos, Editor-in-Chief of Politics, To Vima 16:30 Break 16:35 Session 3 | New Investments and Reforms for Recovery and Resilience Maarten Verwey, Director General, DG Economic and Financial Affairs, EU Commission Alex Patelis, Chief
    [Show full text]
  • Investor Relations & Global Financial Communications Services
    IN COOPERATION WITH UNDER THE AUSPICES MORNING SESSIONS 7:20 AM - 7:55 AM REGISTRATION - BREAKFAST RECEPTION 7:50 AM – 7:55 AM Welcome Remarks Nicolas Bornozis, President - Capital Link, Inc. H.E. Christos Panagopoulos, Ambassador of Greece to the 7:55 AM - 8:00 AM Opening Remarks United States GREECE, EUROPE & THE GLOBAL ECONOMY Introductory Presentation: Mr. Themistoklis Fiotakis, Senior Economist, Global Macro & Markets Group - Goldman Sachs PANEL DISCUSSION Moderator: Mr. Pimm Fox, Anchor - Bloomberg Radio & TV PANEL DISCUSSION: Panelists: Mr. John P. Calamos Sr., Chairman, CEO and Global Co- 8:00 AM - 8:50 AM The Global Economy – Chief Investment Officer – Calamos Investments Europe & Greece (NASDAQ:CLMS) Current State & Outlook Mr. George Saravelos, Cross Markets Strategist - Deutsche Bank Securities, Inc. Mr. Themistoklis Fiotakis, Senior Economist, Global Macro & Markets Group - Goldman Sachs Mr. Rishi Goyal, Mission Chief For Greece, International Monetary Fund (IMF) Mr. Paul Mortimer-Lee, Global Head of Market Economics, Chief Economist North America – BNP Paribas THE DAWN OF A NEW ERA Dr. Sotirios J. Vahaviolos, Founder, President & CEO - 8:50 AM – 8:55 AM Introduced by Mistras Group, Inc. The Prime Minister's Message : “A New Era of H.E. Antonis Samaras, Prime Minister of the Hellenic 8:55 AM - 9:05 AM Opportunity for Greece” Republic (VIA WEBCAST) The European Union Mr. Jyrki Katainen, Vice-President for Jobs, Growth, 9:05 AM – 9:15 AM Message (VIA WEBCAST) Investment and Competitiveness, European Commission THE GOVERNMENT PERSPECTIVE The Restructuring of KEYNOTE SPEAKER: 9:15 AM – 9:35 AM the Greek Economy Hon. Christos Staikouras, Alternate Minister of Finance, Achievements & Targets Hellenic Republic Mr.
    [Show full text]
  • Day 1 | Monday, May 10, 2021
    DAY 1 | MONDAY, MAY 10, 2021 11.00 OPENING SESSION *Language: Greek KEYNOTE REMARKS H.E. Katerina Sakellaropoulou, President of the Hellenic Republic KEYNOTE REMARKS H.E. Kersti Kaljulaid, President of the Republic of Estonia KEYNOTE REMARKS H.E. Zuzana Čaputová, President of the Slovak Republic (video message) OPENING REMARKS Margaritis Schinas, Vice President, Promoting our European Way of Life, European Commission, Belgium OPENING REMARKS His Beatitude Hieronymos II, Archbishop of Athens and All Greece OPENING REMARKS Gianna Angelopoulos-Daskalaki, President, Greece 2021 Committee, Greece Chair: Symeon G. Tsomokos, Delphi Economic Forum HOW HISTORY CAN HELP US MEET CHALLENGES Language: English* Margaret MacMillan, Professor of History, University of Toronto, Canada Chair: Nik Gowing, Co-Director, Thinking the Unthinkable, UK CULTURE & THE PANDEMIC Language: Greek with English subtitles Rector Hélène Ahrweiler, President, Administration Council, European Cultural Centre of Delphi, Greece Marianna V. Vardinoyannis, Goodwill Ambassador, UNESCO, United Nations “Nelson Mandela Prize 2020”, Greece Chair: Antonis Sroiter, Anchorman, Alpha TV, Greece *=English/Greek Translation provided for online audience 1 DAY 1 | MONDAY, MAY 10, 2021 STREAM APOLLON 12.25 ΒREAK 12.30 1821-2021: AN ACCOUNT OF TWO CENTURIES OF EXISTENCE Language: Greek* Under the Auspices of “Greece 2021” Committee Content Partner: Alpha Bank Historical Archives Kostas Kostis, Prof. of Economic and Social History, University of Athens; Advisor to the Mngmt, Alpha Bank Nikiforos Diamandouros, Professor Emeritus, Political Science, University of Athens, Greece Efi Gazi, Professor of Modern History, University of the Peloponnese, Greece Tassos Giannitsis, Alternate Minister of Foreign Affairs 2001-2004, Prof. Emeritus, University of Athens, Greece Stathis Kalyvas, Gladstone Professor of Government, Department Politics & Int.
    [Show full text]
  • Greece Economy Briefing: COVID-19 and the Greek Economy George N
    ISSN: 2560-1601 Vol. 27, No. 2 (GR) March 2020 Greece economy briefing: COVID-19 and the Greek economy George N. Tzogopoulos 1052 Budapest Petőfi Sándor utca 11. +36 1 5858 690 Kiadó: Kína-KKE Intézet Nonprofit Kft. [email protected] Szerkesztésért felelős személy: CHen Xin Kiadásért felelős személy: Huang Ping china-cee.eu 2017/01 COVID-19 and the Greek economy The outbreak of the COVID-19 pandemic is causing serious trouble in Greece. The priority of the Greek government is not only to contribute to public health but also assist citizens economically suffering. Numerous companies are encountered with tremendous difficulties and others are forced to close down. Employees are either fired or asked to temporarily stop working. The Greek government has already announced measures to support companies and people and seeks to benefit by the so-called Pandemic Emergency Purchase Program of the European Central Bank. Several organizations – including the Bank of Greece – make predictions about the future of the national economy in 2020. But these predictions remain unsafe as long as uncertainty continues. The month of March finds Greece coping with COVID-19. A few weeks after the release of the 5th enhanced surveillance report for the Greek economy, the economic situation appears completely different. It almost immediately became obvious that Greece would be unable to catch fiscal targets agreed for 2020. More fiscal space to deal with the effects of COVID-19 is necessary. On 10 March Finance Minister Christos Staikouras welcomed the European Stability Mechanism (ESM) Managing Director Klaus Regling in Athens. Staikouras reiterated Greece’s commitment to materialize commitments but said that the Greek government had requested the exemption from the state budget of certain expenses.
    [Show full text]
  • EUROGROUP (Inclusive Format) Luxembourg, 17 June 2021
    EUROGROUP (Inclusive format) Luxembourg, 17 June 2021 PARTICIPANTS President of Eurogroup Mr Paschal DONOHOE President Belgium: Mr Vincent VAN PETEGHEM Deputy Prime Minister and Minister for Finance, with responsibility for the prevention of tax evasion Bulgaria: Mr Assen VASSILEV Minister of Finance Czechia: Ms Alena SCHILLEROVÁ Deputy Prime Minister and Minister for Finance Denmark: Mr Nicolai WAMMEN Minister for Finance Germany: Mr Olaf SCHOLZ Federal Minister for Finance Estonia: Mr Märten ROSS Deputy Secretary General for Financial Policy and External Relations Ireland: Mr Gary TOBIN Assistant Secretary General with responsibility for International and EU Division Greece: Mr Christos STAIKOURAS Minister for Finance Spain: Ms Nadia María CALVIÑO SANTAMARÍA Third Deputy Prime Minister and Minister for Economic Affairs and Digital Transformation France: Mr Bruno LE MAIRE Minister for Economic Affairs, Finance and Recovery Croatia: Mr Zdravko MARIĆ Deputy Prime Minister and Minister for Finance Italy: Mr Daniele FRANCO Minister for Economic Affairs and Finance Cyprus: Mr Nicholas EMILIOU Permanent Representative Latvia: Ms Līga KĻAVIŅA Deputy State Secretary, Ministry of Finance Lithuania: Mr Mindaugas LIUTVINSKAS Deputy Minister for Finance Luxembourg: Mr Pierre GRAMEGNA Minister for Finance Hungary: Mr Mihály VARGA Minister for Finance and Deputy Prime Minister Malta: Mr Clyde CARUANA Minister for Finance and Employment Netherlands: Mr Wopke HOEKSTRA Minister for Finance Austria: Mr Gernot BLÜMEL Federal Minister for Finance Poland:
    [Show full text]
  • The Greek Economy in 2020 George N
    ISSN: 2560-1601 Vol. 25, No. 2 (GR) Jan 2020 Greece economy briefing: The Greek economy in 2020 George N. Tzogopoulos 1052 Budapest Petőfi Sándor utca 11. +36 1 5858 690 Kiadó: Kína-KKE Intézet Nonprofit Kft. [email protected] Szerkesztésért felelős személy: Chen Xin Kiadásért felelős személy: Huang Ping china-cee.eu 2017/01 The Greek economy in 2020 In January 2020 Greece’s creditors sent their technical team to Athens to consult with Greek authorities in the context of the 5th post-bailout assessment. The Greek government is presenting its priorities to the lenders while the national economy is continuing its recovery. The announcement of the closure of the IMF office in Greece symbolizes the end of an era. Challenges remain high though. Not only remains the country under supervision but it is unclear whether it will succeed in some of its goals, for example the reduction of the primary surplus targets for 2021 and 2022. In December 2019 the governmental majority of 158 New Democracy MPS approved the 2020 budget, According to the budget the national economy will grow by 2.8 percent in 2020 (from a projected 2.0 percent in 2019) and will generate a primary surplus of 3.58 percent of GDP (from 3.73 percent in 2019). It also includes tax breaks of almost €1.2 billion. Approximately 50 percent of the new expansion package comprises tax relief for corporates that will perhaps have a high growth multiplier affecting business decisions for investment, employment and production. In particular, the tax rate on corporate income will be reduced from 28 percent to 24 percent for the fiscal year 2019 and the dividend withholding tax from 10 percent to 5 percent for profits distributed from 2020 onwards.
    [Show full text]
  • Preliminary Agenda
    1 PRELIMINARY AGENDA DAY 1 | MONDAY, MAY 10, 2021 11.00 OPENING SESSION Language: Greek* H.E. Katerina Sakellaropoulou, President of the Hellenic Republic H.E. Kersti Kaljulaid, President of the Republic of Estonia H.E. Zuzana Čaputová, President of the Slovak Republic (video message) Margaritis Schinas, Vice President, Promoting our European Way of Life, European Commission, Belgium His Beatitude Hieronymos II, Archbishop of Athens and All Greece Gianna Angelopoulos-Daskalaki, President, Greece 2021 Committee, Greece Chair: Symeon G. Tsomokos, Delphi Economic Forum HOW HISTORY CAN HELP US MEET CHALLENGES Language: English* Margaret MacMillan, Professor of History, University of Toronto, Canada Chair: Nik Gowing, Co-Director, Thinking the Unthinkable, UK CULTURE & THE PANDEMIC Language: Greek with subtitles Rector Hélène Ahrweiler, President, Administration Council, European Cultural Centre of Delphi, Greece Marianna V. Vardinoyannis, Goodwill Ambassador, UNESCO, United Nations “Nelson Mandela Prize 2020”, Greece Chair: Antonis Sroiter, Anchorman, Alpha TV, Greece 12.25 ΒREAK STREAM APOLLON 12.30 1821-2021: AN ACCOUNT OF TWO CENTURIES OF EXISTENCE Language: Greek* Under the Auspices of “Greece 2021” Committee Kostas Kostis, Prof. of Economic and Social History, University of Athens; Advisor to the Mngmt, Alpha Bank Nikiforos Diamandouros, Professor Emeritus, Political Science, University of Athens, Greece Efi Gazi, Professor of Modern History, University of the Peloponnese, Greece Tassos Giannitsis, Alternate Minister of Foreign Affairs
    [Show full text]