Athens News Agency: News in English, 10-11-16

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

CONTENTS

[01] Gov't on PM's statement

[02] Stocks end 1.04% down

[01] Gov't on PM's statement

Papandreou was quoted on Monday from the French capital as saying that Berlin's position of letting banks and bonds markets contribute to any Euro-zone debt default could push weaker economies into bankruptcy.

"...(This) has created a spiral of higher interest rates for countries that seemed to be in a difficult position, such as Ireland and Portugal ... This could create a self-fulfilling prophecy ... This could break backs; force economies towards bankruptcy," the Greek PM was quoted as saying.

Back in Athens, Alternate Culture Minister Tilemachos Hytiris, a veteran PASOK cadre, underlined that "there is widespread concern in Europe that things have changed and that this is not the Europe we used to know. The Europe of the crisis is different. This is true (there is a leadership deficit in the EU) and this becomes much more evident in a period of crisis."

"The initiatives undertaken mainly by Germany while, at the same time, is trying to be in charge -- probably the only one in charge in Europe considering that France is being dragged along to support its (Germany's) positions -- are initiatives that start slowly to become annoying and this annoyance was expressed by the prime minister.

"If things do not change, we will not be talking about a Europe of two speeds�it will become unbalanced (�). Europe used to stand out for its social policy, its traditions in social policy and culture, and of course its history. However, the globalization in recent years and the current crisis appear to have changed that, while Germany also appears to be moving toward becoming the absolute rapporteur on European issues," he added. (ANA-MPA)

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[02] Stocks end 1.04% down

The Big Cap index fell 1.32 pct, the Mid Cap index eased 1.28 pct and the Small Cap index ended 1.11 pct lower. Viohalco (1.92 pct), Hellenic Petroleum (1.63 pct) and Jumbo (1.52 pct) were top gainers among blue chip stocks, while Cyprus (5.66 pct), MIG (4.41 pct) and Piraeus Bank (3.17 pct) were top losers.

The Health (1.41 pct) and Telecoms (1.15 pct) sectors scored gains, while Banks (2.49 pct) and Financial Services (3.41 pct) suffered the heaviest percentage losses. Broadly, decliners led advancers by 108 to 35 with another 56 issues unchanged.

Mohlos (10 pct), Sanyo Hellas (7.69 pct) and Maillis (5.26 pct) were top gainers, while Haidemenos (17.65 pct), Ideal (9.82 pct) and Vioter (9.52 pct) were top losers.

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