ASE marks the beginning of 2015 with special ceremony

ASE marks the beginning of 2015 with special ceremony

Political uncertainty is significantly affecting the course of the Greek stock market, but things will stabilize after the general elections, Finance Minister Gikas Hardouvelis said on Friday.
Addressing a special ceremony held in the Athens Stock Exchange to mark the beginning of 2015 in the market, Hardouvelis expressed his optimism that the Greek stock market would rebound in 2015 if a reform policy and a fiscal restructuring would continue and the Greek economy strengthened further.
Referring to the country’s prospects in the Eurozone, the Greek minister stressed that no one can remain in the Eurozone unless it fulfilled its obligations and noted that “voices saying that the country will not pay lead to a loss of credibility”.
Hardouvelis underlined that the country was not solely depended from its partner-creditors but from a liquidity point of view it was significantly depended from the European Central Bank as the domestic banking system was borrowing around 40 billion euros from ECB’s liquidity mechanisms.
The Greek Finance minister said his goal was to grant full independence to the country’s Capital Market Commission and improving an existing tax framework for investments.
Addressing the event, George Zanias, president of Hellenic Bank Association, said that Greek banks have begun an effort to boost the Greek economy through financing, which has currently frozen due to political developments, and he expressed his wish that an effort to boost liquidity in the market could resume soon.
Iacovos Georganas, president Hellenic Exchanges Group, acknowledged that a snap election process was putting under revision forecasts for economic growth and expressed his hope that the cost from the snap election would be manageable.
Konstantinos Botopoulos, president of the Greek Capital Market Commission, said that the dynamism of the economy was so strong that it would create new opportunties.
Finally, Theodore Fessas, president of the Federation of Hellenic Enterprises, said that Greece must be transformed into a production country and noted that the country must no lose its European orientation.
Referring to the country’s prospects in the Eurozone, the Greek minister stressed that no one can remain in the Eurozone unless it fulfilled its obligations and noted that “voices saying that the country will not pay lead to a loss of credibility”.
Hardouvelis underlined that the country was not solely depended from its partner-creditors but from a liquidity point of view it was significantly depended from the European Central Bank as the domestic banking system was borrowing around 40 billion euros from ECB’s liquidity mechanisms.
The Greek Finance minister said his goal was to grant full independence to the country’s Capital Market Commission and improving an existing tax framework for investments.
Addressing the event, George Zanias, president of Hellenic Bank Association, said that Greek banks have begun an effort to boost the Greek economy through financing, which has currently frozen due to political developments, and he expressed his wish that an effort to boost liquidity in the market could resume soon.
Iacovos Georganas, president Hellenic Exchanges Group, acknowledged that a snap election process was putting under revision forecasts for economic growth and expressed his hope that the cost from the snap election would be manageable.
Konstantinos Botopoulos, president of the Greek Capital Market Commission, said that the dynamism of the economy was so strong that it would create new opportunties.
Finally, Theodore Fessas, president of the Federation of Hellenic Enterprises, said that Greece must be transformed into a production country and noted that the country must no lose its European orientation.