Al-Ahli CEO Ron Gourlay to step down in April    HONOR unveils New Corporate Strategy to Transition to an AI Device Ecosystem Company Illuminating a three-step roadmap underpinned by openness and collaboration    MEPCO lays the Foundation for PM5: A Groundbreaking Leap in Paper Production, doubling Supply Capacity and introducing Superior-Quality Paper to the Region    Secure 2030 by Seclore strengthens Data Sovereignty, Cybersecurity and Regulations in Saudi Arabia    Civil Defense warns of precaution amid forecast of rain in most Saudi regions until Friday    EU must urgently rearm, says von der Leyen    Australian whose blood saved 2.4 million babies dies    Trump insists Putin wants peace as war is raging in Ukraine    Dozens found alive in metal containers after India avalanche    Lebanese President Aoun arrives in Riyadh in first official foreign visit    Crown Prince exchanges Ramadan greetings during reception in Riyadh    UK death rate 'reaches record low'    Anora sweeps Oscars with best picture, best director and best actress for Mikey Madison    Saudi Arabia invites misguided individuals abroad to return home under amnesty offer: State Security chief    Cristiano Ronaldo left out of Al-Nassr squad for AFC Champions League clash against Esteghlal in Iran    Bassogog stuns Al-Ittihad with last-minute equalizer as Al-Okhdood snatches a dramatic draw    First smart, environmentally friendly mosque opens in Tabuk    Saudi Arabia to partner with US company to manufacture and export "flying taxis"    Toney's hat-trick stuns Al Hilal as Al Ahli claims thrilling victory in Saudi Clasico    King Salman prays for peace and stability for Palestinians in Ramadan message King reaffirms Saudi Arabia's commitment to serving the Two Holy Mosques and pilgrims    SFDA warns against Maragatty chicken broth for containing banned colorants    Bollywood star Saif Ali Khan 'out of danger' after attack at home in Mumbai    Order vs. Morality: Lessons from New York's 1977 Blackout    India puts blockbuster Pakistani film on hold    Exotic Taif Roses Simulation Performed at Taif Rose Festival    Asian shares mixed Tuesday    Weather Forecast for Tuesday    Saudi Tourism Authority Participates in Arabian Travel Market Exhibition in Dubai    Minister of Industry Announces 50 Investment Opportunities Worth over SAR 96 Billion in Machinery, Equipment Sector    HRH Crown Prince Offers Condolences to Crown Prince of Kuwait on Death of Sheikh Fawaz Salman Abdullah Al-Ali Al-Malek Al-Sabah    HRH Crown Prince Congratulates Santiago Peña on Winning Presidential Election in Paraguay    SDAIA Launches 1st Phase of 'Elevate Program' to Train 1,000 Women on Data, AI    41 Saudi Citizens and 171 Others from Brotherly and Friendly Countries Arrive in Saudi Arabia from Sudan    Saudi Arabia Hosts 1st Meeting of Arab Authorities Controlling Medicines    General Directorate of Narcotics Control Foils Attempt to Smuggle over 5 Million Amphetamine Pills    NAVI Javelins Crowned as Champions of Women's Counter-Strike: Global Offensive (CS:GO) Competitions    Saudi Karate Team Wins Four Medals in World Youth League Championship    Third Edition of FIFA Forward Program Kicks off in Riyadh    Evacuated from Sudan, 187 Nationals from Several Countries Arrive in Jeddah    SPA Documents Thajjud Prayer at Prophet's Mosque in Madinah    SFDA Recommends to Test Blood Sugar at Home Two or Three Hours after Meals    SFDA Offers Various Recommendations for Safe Food Frying    SFDA Provides Five Tips for Using Home Blood Pressure Monitor    SFDA: Instant Soup Contains Large Amounts of Salt    Mawani: New shipping service to connect Jubail Commercial Port to 11 global ports    Custodian of the Two Holy Mosques Delivers Speech to Pilgrims, Citizens, Residents and Muslims around the World    Sheikh Al-Issa in Arafah's Sermon: Allaah Blessed You by Making It Easy for You to Carry out This Obligation. Thus, Ensure Following the Guidance of Your Prophet    Custodian of the Two Holy Mosques addresses citizens and all Muslims on the occasion of the Holy month of Ramadan    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Greece slams IMF, EU debt inspectors
Published in Saudi Press Agency on 12 - 02 - 2011

Awwal 09, 1432 H/Feb 12, 2011, SPA -- An indignant Greece slammed EU and International Monetary Fund inspectors overseeing its efforts to reform its debt-crippled economy, accusing them Saturday of overstepping their role and interfering in Greece's internal affairs, according to AP.
In an unusually harshly worded pre-dawn statement, government spokesman Giorgos Petalotis called the behavior of the inspectors at a Friday news conference unacceptable.
«We have needs, but we also have limits. And we do not negotiate the limits of our dignity with anyone,» Petalotis said. «We take orders only from the Greek people.»
It was the first time the government has publicly struck back at the IMF and the European Union, which rescued Greece from bankruptcy but at a price that many Greeks consider too harsh.
The IMF, the European Central Bank and the European Commission delegation said Greece must privatize ¤50 billion ($68 billion) in state assets and speed up structural reforms in the next few months to keep the country's troubled finances afloat. The IMF representative also said some of the frequent demonstrations against the Greek government's reforms were being carried out by groups angry at losing their «unfair advantages and privileges.»
Friday's news conference led to quick outrage in sections of the Greek media, with one TV anchor describing the remarks as «unacceptable.» But there was no government reaction until Petalotis' statement was issued shortly before 2 a.m.
«We asked them to help and we are fully honoring our commitments. But we didn't ask for anyone to intervene in our country's internal affairs,» Petalotis said, adding the government would make clear that «everyone must understand their role.»
Prime Minister George Papandreou expressed his dismay at the comments to IMF Managing Director Dominique Strauss-Kahn in a phone call Saturday, according to his office. The statement said Strauss-Kahn had called Papandreou, and that the prime minister had conveyed his government's message «regarding the unacceptable behavior» of the delegation.
The statement said «Strauss-Kahn expressed his understanding for the spirit of the prime minister's remarks and his respect toward the Greek government and the Greek people.»
Papandreou's office said later in the day that the prime minister had also spoken with EU Monetary Affairs Commissioner Olli Rehn by telephone, but did not disclose details of the discussion.
The opposition conservative party, however, struck back at the Socialist government, saying it was «too late for false tears,» and that the government's «post-midnight theatrical performance is a farce.»
Greece's economy is under strict supervision as part of a ¤110 billion ($149 billion) bailout loan package from the IMF and the other European Union countries that use the euro _ funds that saved Greece from defaulting on its mountain of debt last May.
In return, the government has been pushing through stringent and unpopular reforms, cutting public sector salaries and pensions, increasing taxes and overhauling labor laws. The austerity program has prompted labor unions to stage a series of strikes and demonstrations.
Batches of the loan are released every quarter, before which representatives from the IMF, the EC and the ECB visit Athens to review progress.
On Friday, the representatives, dubbed the 'troika,' said Greece must privatize ¤50 billion ($68 billion) in state assets _ seven times larger than a target set only three months ago _ and speed up structural reforms.
IMF mission chief Poul Thomsen scoffed at a suggestion that Greece might sell its ancient monuments to raise money, but argued «the mismanagement of public property is a major source of waste» in Greece.
He also said Greece's long-term reforms were being «fiercely tested by vested interests» like truck drivers and pharmacists who work in closed industries the government was trying to open up.
«I'm not surprised that these groups are protesting but I'm also convinced ... that the Greek population see it for what it is: an attempt to preserve their unfair advantages and privileges,» he said.
Greek national debt is set to exceed 150 percent of GDP this year.
Privatization targets are likely to include state companies not listed on the stock market and the development of public land, including Olympic facilities that have languished since the Athens Games in 2004. Greece will seek ¤15 billion ($20 billion) in privatization and real estate development this year alone, according to Finance Ministry officials.
Petalotis said the government had frequently spoken of the need to better utilize state property, but stressed that any such program would have to be done transparently and «in no case means the sale of public land.»
«It is equally obvious that only the Greek government is able to take these decisions,» he said.


Clic here to read the story from its source.