04/03/2010

GOVERNMENT ANNOUNCES AUSTERITY PLAN

PM: “Sacrifices will Bear Fruits”

The government announced yesterday an additional set of measures bound to slash the double-digit public deficit.

Speaking yesterday at a Cabinet meeting, Prime Minister Papandreou said that the emphasis is now shifting to what the European Union will do. 

The new measures aim at bringing into public coffers some €4.8 billion, amount which corresponds to 2% of the country’s GDP.

Prime Minister George Papandreou also briefed the parliamentary group of the ruling PASOK party last Monday on the tough but necessary measures - that were announced yesterday after a Cabinet meeting - in order to rein in the country’s bloated public deficit and save the economy.

Papandreou described the difficult state of the economy, saying that the situation has reached its limit, and on a daily basis, "we are struggling with time."

Kathimerini daily: Living on borrowed time

Prime Minister Gr.Papandreou's Speech in Pasok's Parliamentary Group (in Greek) 

Pay Cuts

In particular, the new measures include a 30% pay cut of public sector’s supplements allocated annually, and a 12% across the board cut of public servants’ benefits. Moreover, subsidies to public entities and their social security funds will be reduced by 10%.

Any additional remuneration in the public sector will be trimmed by 50%, and compensation for overtime work will shrink by 30%.

Executive bonuses in the public sector will be abolished and the Public Investment Budget will be curtailed by 5% (€500 million). As of 2011, the ratio for public sector hirings will be one for every five retirees.

Taxation

VAT is expected to rise at all cases by an average 1% to 2% and an extra levy on fuel, cigarettes, liqueur and luxury products will be imposed.

A one-off tax of 1% on personal incomes above €100.000 will also be introduced, together with a 15% rise in taxation of offshore companies’ real estate property.

Kathimerini daily: Further Cuts and Tax Hikes Announced

Europe Welcomes Measures

The European Commission on Wednesday welcomed the announcement of a set of additional consolidation measures by the Greek government.

This confirms the Greek government's commitment to take all necessary measures to deliver the programme's objectives and ensure that the 4% of GDP deficit reduction target for 2010 will be met, reads the statement.

Eurogroup chairman Jean-Claude Juncker said that the country is now "credibly on track" to curb its budget deficit noting that "euro area members stand ready to take determined and coordinated action, if needed, to safeguard the financial stability in the euro area as a whole."

German Chancellor Angela Merkel said the measures were a "very important message" that would help restore the markets' confidence in Greece and in turn support the euro.

Finally, both the European Central Bank (ECB) in a press release and the International Monetary Fund (IMF) in a statement welcomed the measures.

Kathimerini daily: Further Steps Send Strong Signal

DEPUTY FM KOUVELIS ON GREEK DIASPORA

"Greeks abroad must feel, and know, that Greece is by their side," is the title of an article by Foreign Affairs Deputy Minister Spyros Kouvelis, appearing in the latest issue of Athens News Agency’s magazine "Greek Diaspora."

Kouvelis stressed, among other things, that "Greece must address all Greeks, regardless of their profession, social role, and place of residence," adding that within the framework of Green Diplomacy, active participation of Greeks abroad in the realisation of Green Development is feasible, both within and beyond Greek borders.

EUROPEAN INVESTMENT BANK: BOOSTING FUNDING PROJECTS

The European Investment Bank (EIB) announced yesterday that it could offer up to €1 billion at normal interest rates to boost European Union funding projects.

"If asked, we can partially fund Greece’s participation in these projects, offering a favourable interest rate" said EIB Vice President Plutarchos Sakellaris.

The EIB lending activity to support Greece’s economic development and European integration totalled last year around 6.1 billion euros, according to Sakellaris.

The EU 2007-2013 funding programme for Greece is budgeted at 26.2 billion euros.

European Investment Bank: EIB Lending in Greece

Kathimerini Daily: EIB may pitch in with cheap money

Greek News Agenda: EU Supports SMEs

ATHENS INT’L AIRPORT ANNOUNCED ALL CHARGES FREEZE

Athens International Airport (AIA) said yesterday it will freeze all charges this year to help airlines cope with the economic downturn and slower passenger traffic.

The airport, approximately 40% owned by German construction group Hochtief, announced it will keep airport fees for landing, parking, security, passenger terminal facilities and ground handling at 2009 levels without any inflationary adjustment.

It will continue its annual incentive programme in 2010, which will be "further improved to reflect the needs for more discounts for airlines and help them reduce their operating costs considerably."

AIA’s incentive scheme focuses on airlines that add new routes or frequencies to their networks to and from it.

Kathimerini daily: Airport freezes charges

A DAY WITH PLATO

Why read Plato? Because, says Scott Buchanan, editor of "The Portable Plato" (Penguin Classics), "…the reading of Plato’s dialogues by a large number of people could make the difference between a century of folly and a century of wisdom for the world."

"A Day With Plato" is a celebration of the wisdom of Socrates as handed down through the writings of Plato. It is an annual event, which this year – in its 23rd edition- is being held in Ireland on March 6 and 7, organised by the educational charity School of Philosophy and Economic Science.

STAVROS S.NIARCHOS FOUNDATION SCHOLARSHIP

The Centre for Hellenic Studies, King’s College London and the Stavros S. Niarchos Foundation have established a Stavros S. Niarchos Scholars’ Fund in support of doctoral research on any aspect of Hellenic Studies, carried out in either the Department of Classics or the Department of Byzantine and Modern Greek Studies, at King’s College.

The deadline for applications for the 2010 scholarship is March 19.

ECOWEEK 2010

An international conference and design workshops for young architects and architecture students, and engineers titled "Ecoweek 2010: Ecology + Community + Architecture" is taking place in Athens from March 13 to 20.

The event focuses on passive solar and ecological buildings, and will examine sustainability in local communities and societies. Participants will learn how to design a passive solar house of zero emissions.

The event also includes site visits and a hands-on workshops on building with cob. The conference takes place under the auspices of the European Institute of Law, Science and Technology and the City of Athens. Registration is now open.

CULTURAL AGENDA

Exhibitions

                      Images of Old Athens @ Technopolis

"Giorgos Savakis: Images of Old Athens" is a retrospective exhibition of works by the well-known folk artist at the City of Athens Technopolis from February 24 to March 17.The exhibition features works that depict the artist’s childhood memories and his experience of everyday life in the early 20th century.

Istanbul artists @ Kappatos Gallery

An art exhibition featuring the works of five Istanbul-based artists - Haluk Akakce, Hussein Chalayan, the duo of Yasemin Baydar and Birol Derim, and Arslan Sukan – is on display at the Kappatos Gallery in Monastiraki district, from February 25 to March 27. The exhibition, entitled "From Istanbul they come", includes paintings, photographs, sculptures, constructions and slides.

Music

                    Emma Shapplin @ Megaron

The romantic, mysterious and fiery Emma Shapplin – who combines the intensity and emotional tension of the opera with the sensuality and directness of pop music - is in Athens for two concerts at the Athens Concert Hall on March 6 and 7.

                     Misia’s Fados @ Megaron

Misia, one of the best-known contemporary fado performers, will appear at the Athens Concert Hall, on March 8, for a night of poetic melancholy and absolute theatricality, presenting her new show "Ruas" (Roads).

GREEK CUISINE: PDO FOR SANTORINI FAVA

According to the Official Journal of the European Union (11.02.2010), "Fava Santorinis" has now a Protected Designation of Origin (PDO) indication.

Fava is a traditional pulse, yellowish in colour and shaped like flattened disks with a particularly high protein and carbohydrate content.

Its physical and chemical properties make it very easy to cook, giving the food certain specific organoleptic characteristics such as soft, light texture and a slightly sweet taste which distinguish Fava Santorinis from other pulse dishes.

The name 'fava' first appeared in written texts in the 6th to 5th century B.C., in fragments of a lost tragedy by Aeschylus, where the term was used to describe poor-man's food.

Since then, Fava has been continuously grown in Santorini for over 3,600 years. The volcanic soil and the distinctive climate of Santorini Island, make fava a unique product worldwide.