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  Tuesday May 9, 2006 - Archive
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09/05/2006  
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TOP STORY
Greeks snap up loans Credit growth hits 30 percent as 60,000 loan holders stagger under debts

Greek households snapped up home and consumer loans at a fast pace in the first two months of 2006 as credit growth jumped by about a third, according to Bank of Greece (BoG) data released yesterday, while more than 60,000 loan holders are struggling under the weight of their debts.
FRONT PAGE NEWS
Graft in public sector is thriving
Town planning offices have become a focal point for corruption in the public sector, but graft has also been found in other areas for the first time...
Silence ordered on Karahasan
New Democracy ministers, deputies and officials were ordered yesterday not to talk about PASOK's decision to appoint...
Strike set to hit OA flights
A nationwide strike by the country's largest private sector union group, GSEE, tomorrow is expected to disrupt...
Deaf ear to child violence
Too little is being done in Greece to provide an outlet for children to talk about violence...
Pedestrians walk past a Tekfenbank branch...
Pedestrians walk past a Tekfenbank branch in central Istanbul, Turkey...
Thieves flash grenade to speed up IKA heist
Armed robbers threatened to explode a hand grenade during a raid on an IKA...
IN BRIEF
Court postpones hearing of ex-judge and 10 lawyers until next month : The keenly awaited trial of former judge Leonidas Stathis and 10 lawyers...
Youths arrested at march to face court today; another suspect sought : The 17 people arrested during disturbances at the anti-war march in Athens...
Pensioners do not have virus : Fears that two pensioners aged 75 and 76 had contracted HIV...
Hooligan warning : Cypriot President Tassos Papadopoulos threatened to cut state aid...
Arson spree : A series of arson attacks took place in Athens during the early hours...
Bus fire : An Olympic Airlines bus transporting 10 employees caught fire early yesterday...
Road victims : The number of people killed in road accidents in the first four months...
Moderate earthquake : An earthquake measuring 4.7 on the Richter scale hit the western island of Zakynthos yesterday...

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A young boy holds up...
EDITORIAL
Consumer debt a risk for economy
 The explosive growth of consumer loans over the past few years has the makings of another time bomb for the Greek economy. The tripling of loans in just five years is not a sign of a more mature market; it is more like a slippery slope inexorably leading to another bubble. The continually increasing percentage of loans that are not being paid off is adding to the existing concerns.
COMMENTARY
Shifting the goalposts again
 PASOK leader George Papandreou's decision to nominate lawyer Gulbeyaz Karahasan as the party's candidate for Xanthi-Kavala-Drama Prefect came as a surprise not only to Karahasan herself and to the party - whose cadres should have known that the fanfare over «participatory democracy» was destined from the outset for the Internet and not the political arena proper - but it also astonished the wider public.
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