Tuesday September 16, 2014 Search
Weather | Athens
28o C
21o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
ECB right not to disclose Greece-related documents, court says

The European Central Bank was right to refuse access to documents on the economic situation in Greece to a journalist in 2010, because disclosure would have undermined the public interest, the General Court of the European Union ruled.

"Disclosure of those documents would have undermined the protection of the public interest so far as concerns the economic policy of the European Union and Greece," the court ruled on Thursday.

The ruling, in a case brought by news agency Bloomberg News, can be appealed on points of law only to the EU's highest court, the European Court of Justice, within the next two months.

Bloomberg News asked the ECB in August 2010 to disclose two documents entitled "The impact on government deficit and debt from off-market swaps. The Greek case" and "The Titlos transaction and possible existence of similar transactions impacting on the euro area government debt or deficit levels."

The ECB refused access to the documents. Bloomberg News challenged that decision in the General Court.

"In today's judgment, the General Court dismisses that action," the court said in a statement.

The judges agreed with the ECB that it could not disclose the first document because the information it contained was outdated, posing a substantial risk of severely misleading the public in general and financial markets in particular.

"In a very vulnerable market environment, that disclosure would affect the proper functioning of the financial markets. Thus, disclosure of the information contained in that document would undermine public confidence as regards the effective conduct of economic policy in the EU and Greece," the statement said.

The court also found that the content of the second document was closely connected with the first, and that the ECB had not made a mistake in assessing that its disclosure too "would undermine the economic policy of the EU and Greece."

Privately-held Bloomberg competes with Thomson Reuters, Dow Jones & Co, a unit of News Corp (NWSA.O), and other news and data providers. [Reuters]

ekathimerini.com , Thursday November 29, 2012 (12:23)  
Protesting Finance Ministry cleaners take fight to Strasbourg
Athens coastal revamp enters first leg as 20 buildings are ceded
Golden Dawn candidate found guilty of inciting racist violence
PM to inaugurate new surgery wing at Evangelismos Hospital
Tripoli´s military airport in Peloponnese to be opened to passenger traffic
A military airfield in Tripoli, in the Peloponnese, will be opened to passenger traffic, according to a joint decision signed on Tuesday by the ministers of Defense, Dimitris Avramopoulos, a...
Pension review has saved state 42 mln euros, alternate finance minister says
A review of the pensions being paid out by the Greek state and new, stricter rules governing pension registrations have led to savings of a total of 42 million euros in the past two years, A...
Inside Business
SOCCER
Olympiakos, Atletico gear up for Champions League opener
A rousing 2-1 La Liga victory at Real Madrid on Saturday may suggest otherwise, but Atletico Madrid is still rebuilding after losing several key players in the close season, coach Diego Sime...
WATER POLO
Greece wins women´s U19 Europeans in water polo
Greece won the women’s European Under-19 Championship in Italy beating the host in Sunday’s final, for what was the country’s second gold medal in the competition’s history. The Greek teenag...
Inside Sports
FOCUS
Democracy´s many guises and challenges
The wilting Arab Spring, conflict in Ukraine, slaughter in Iraq and Syria, citizens not trusting their governments and Europeans losing their enthusiasm for the Union – most places you look ...
COMMENTARY
Lessons not learned
One year since the assassination of rapper Pavlos Fyssas by a member of Golden Dawn in Keratsini, southwestern Athens, we now know a lot more about the activity of the neo-Nazi party’s hit s...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. Protesting Finance Ministry cleaners take fight to Strasbourg
2. Athens coastal revamp enters first leg as 20 buildings are ceded
3. Tripoli´s military airport in Peloponnese to be opened to passenger traffic
4. Pension review has saved state 42 mln euros, alternate finance minister says
5. Golden Dawn candidate found guilty of inciting racist violence
6. Olympiakos, Atletico gear up for Champions League opener
more news
Today
This Week
1. Greece at bottom of social justice scale among EU28
2. Lessons not learned
3. Promises, promises
4. Thessaloniki woman arrested for cashing in dead aunt's pension
5. Golden Dawn candidate found guilty of inciting racist violence
6. PM to inaugurate new surgery wing at Evangelismos Hospital
Today
This Week
1. A Greek God
2. Greece on standby
3. Avramopoulos appointed Commissioner for Migration and Home Affairs
4. Central Athens traffic restrictions back in force on Monday
5. Pavlos Fyssas murder trial expected to start before the end of the year
6. EU bank tests may miss trillion dollar risk, study finds
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2014, H KAΘHMEPINH All Rights Reserved.