The Hellenic Radio (ERA): News in English, 09-06-24

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From: The Hellenic Radio (ERA) <www.ert.gr/>

CONTENTS

[01] Working Stoppage of Traffic Controllers on Thursday

The employees have financial and institutional grievances and are opposing the violation of air traffic rules from illegal radio amateurs.Travellers are advised to contact their air line to see if their flight is going to be cancelled or rescheduled.

Source: NET, NET 105.8

News item: 24023

[02] Ministry of Development Provides Motives for Investment

Minister of Development Costis Hatzidakis announced today three new 184 million euro plans that target at boosting investments in trade, altering tourism and securing employment. More specifically:

�EPIHEIRW 2009� plan concerns tourist and trade business modernization projects. The budget amounts to 150.000 euro for tourist businesses and 80.000 for trade businesses.

�DIAPISTEFTEITE� plan targets at upgrading control and product certification laboratories. The funds to be provided are 50.000 euro for projects focusing on competent services and 100.000 euro for laboratory projects.

�STHRIZW� plan refers to small businesses that engage 9 employees that have signed dependent working contracts and targets at boosting businesses and supporting employment. The budget rises to 80 million euro.

Source: NET

News item: 24020

[03] Government's Plan on OSE Purification

The government on Wednesday unveiled a restructuring and development plan for Hellenic Railways Organisation (OSE), pointing to one of the most important reforms promoted by the government, given the monumental losses reported annually by the state-run organisation.

Presenting the plan, Transport and Communications Minister Euripides Stylianidis said OSE was the "biggest loss-making public sector enterprise in Europe", with annual losses of around 1.0 billion euros and an accumulated deficit of around nine billion euros. The minister said the reforms would positively affect the country's economy and its growth course and noted that if urgent measures were not taken, OSE's deficit could surpass 11 billion euros by 2011.

The restructuring plan envisages the corporate transformation of OSE and the creation of three new companies: OSE, managing the organisation's real estate assets; Trainose, offering railway services, and Ergose, operating infrastructure and network works.

Stylianidis said the plan did not include voluntary retirement schemes but rather it adopts a programme of "paid reserves", which could result in savings of around 315 million euros over a 10-year period.

The plan would cover 3,000 employees aged 48 to 54 years old.

The Greek minister said Hellenic Railways serviced 16.5 million passengers a year, of which 8.5 million use the Proastiakos high-speed rail lines servicing the greater Athens area, with revenues covering only 38 pct of expenses.

Under the plan, Hellenic Railways will raise fares by 100 pct by 2011, starting with a 33-pct increase from August with the aim of raising railway fares at 80 pct of intercity bus fare levels. No fare increases will be made by the Proastiakos service. The higher rates are expected to add 5.4 million euros to coffers this year, by 22.75 million euros in 2010 and 39 million euros in 2011, while operating costs were projected to fall by 21 pct this year, 52 pct in 2010 and 2011.

Stylianidis said OSE, in cooperation with economy ministry, will work towards a more efficient management of the organisation's real estate assets, worth 14.3 billion euros and predicted that Train�se could return to profitability as early as 2012.

Source: Athens News Agency

News item: 24009

[04] OECD Expects Slight Economic Rebound

The Organization for Economic Co-operation and Development (OECD) revised upwards its forecast on world economy for the first time in two years. Estimating that recovery is on the way, it stressed it will be weak and fragile and that social and financial repercussions will not be avoided. OECD head Angel Gurria said that economic figures echo a moderate optimism but everyone should remain on alert.

The Paris-based organization said it expects its member countries' economies to shrink by 4.1 percent this year, with only government rescue measures heading off an even worse decline. It forecast, yet, a return to growth in all three regions next year, with overall growth across its membership expected to average 0.7 percent in 2010.

Although the financial turmoil hit almost simultaneously, the speed of an economic rebound will vary across the globe, said Gurria.

With regard to unemployment, the OECD forecast it will stand at 8.5 per cent in 2009 and soar to 9.8 per cent in 2010.

News item: 24006

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