Tuesday October 21, 2014 Search
Weather | Athens
24o C
16o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
Gov't seeks to soften blow of Russian food embargo

Government officials were seeking ways on Monday to minimize the impact of a Russian food embargo by attempting to secure reassurances from Brussels that Greek producers will be compensated for their losses while also preparing to branch out into other export markets.

In two successive meetings held at the Foreign and Finance ministries, officials are said to have finalized the government’s strategy ahead of a scheduled meeting of agricultural experts from all 28 European Union member states in Brussels on Thursday. The aim is for Athens to secure the best possible deal for compensation which Greek producers of peaches and other products are already pressing for. “Decisions regarding the size and nature of the compensation will be taken there,” government spokeswoman Sofia Voultepsi said.

According to sources, an initial assessment arrived at on Monday during a meeting chaired by Deputy Foreign Minister Dimitris Kourkoulas and involving senior officials from the Finance and Agricultural Development ministries put Greece’s likely losses this year at 50 million euros. Sources described the projected damage as “limited” but said that a precise estimate would not be available until full stock has been taken of all Greek exports canceled by Russian importers.

As important as the issue of compensation is the identification of new potential export markets for Greece, government officials indicated. “The EC’s reassurance regarding compensation is good and welcome but compensation will not solve the problem,” Kourkoulas said, adding that a return to the Russian market or an opening to new markets would also be required.

As Athens waits for Brussels to decide what action it will take to compensate EU farmers, Greek regional authorities are immediately to begin assessing the financial impact from the embargo. It was decided at Monday’s meeting at the Finance Ministry that regional officials would provide details about the impact the import ban will have not just on fruit and vegetable producers but also on other sectors of the economy, such as road haulage.

Any compensation on a national level will need the approval of the European Commission first otherwise it could be considered illegal state aid, which Greece will have to pay back. Athens is hoping that the Commission will approve an EU-wide program to compensate farmers and others who will lose out as a result of Russian actions.

Until any decisions are reached, the only action the government can take is to try to absorb some of the unexported fruit through the military and state hospitals.

ekathimerini.com , Monday August 11, 2014 (21:41)  
Wage dispute hurts gov’t unity before troika return
Most Britons want to see Parthenon Marbles back in Athens, poll shows
Turkey tests Cyprus after research vessel encroaches on offshore gas area
Doctors’ disiplinary panel needs surgery
ANALYSIS
At loggerheads over role of the IMF
The Greek coalition government’s plan for a clean exit from the European Union / International Monetary Fund program was dealt a deadly blow by the markets last week on the back of rising po...
Hong Kong telecom group buys out Greek start-up
Hong Kong-based telecommunications multinational PCCW Global has announced it has bought out Greek start-up Crypteia Networks, aiming to incorporate its products into the group’s portfolio. ...
Inside Business
BASKETBALL
PAOK fans stop coach Markopoulos´s move to Olympiakos
Olympiakos is once again in the lookout for a new coach after the refusal of PAOK to release Soulis Markopoulos, while Panathinaikos defeated Kolossos on Rhodes on Monday to become the only ...
BASKETBALL
Reds lose to Nea Kifissia, search for new coach
Nea Kifissia recorded the biggest win of its short history in the top flight defeating Olympiakos 68-67 on Sunday, in a Basket League weekend marred by the abandonment of the Thessaloniki de...
Inside Sports
COMMENTARY
Stop moaning and get in the game
There are so many people who love spending their days talking about the crisis and proclaiming that they know exactly what needs to be done to solve the country’s problems. Some of them obvi...
EDITORIAL
Exorcising the ghosts
Developments last week held in store an uncomfortably realistic understanding of the risks engulfing the country. The massive sell-off in Greece’s stock and bond markets was a strong shock. ...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. PAOK fans stop coach Markopoulos´s move to Olympiakos
2. At loggerheads over role of the IMF
3. Hong Kong telecom group buys out Greek start-up
4. Local tourism could see more arrivals, investments next year
5. Troika exerts pressure using return date
6. Wage dispute hurts gov’t unity before troika return
more news
Today
This Week
1. Greece must stick to reforms, says Schaeuble
2. Bakers encircle Thessaloniki's White Tower with giant 'koulouri'
3. Turkish vessel enters Cypriot Exclusive Economic Zone
4. European leaders pivot back to debt crisis after wake-up call
5. Hardouvelis does not see 'big surprises' in ECB stress tests
6. Stop moaning and get in the game
Today
This Week
1. Possible third figure in Amphipolis mosaic may be uncovered shortly
2. Greece to contribute 1 mln towards Gaza reconstruction
3. Greece nearing bailout exit, says gov't spokesperson after IMF talks
4. Istanbul skyscraper casts shadow over Greece's banking ambitions
5. Coalition shooting itself in the foot
6. GPO poll gives SYRIZA clear lead over New Democracy
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2014, H KAΘHMEPINH All Rights Reserved.