March 8, 1954

STATE LOAN: Yesterday at 10.15 a.m., Coordination Minister Spyros Markezinis gave a press conference to announce the terms and certain details of the domestic loan. The main terms are the following: a) The loan is for the sum of 300 billion drachmas, which will be exclusively set aside for production purposes. (…) c) The interest rate will be 5 percent. d) Bond shares will be valued at 150,000 drachmas each. e) The loan will be for a duration of seven years and will be based on the dollar. (…) Mr Markezinis (…) recalled that since 1920, (…) no one had even dared to even consider issuing a domestic loan. He (…) expressed his special appreciation to the other political parties for their non-partisan response to the government’s decision. EDA-CENTER: The board of the United Democratic Left (EDA) yesterday decided to withdraw from the by-election in Fthiotida, as it is no longer able to support the candidacy of Mr G. Thanasekos, and called for support for the Liberal party candidate, Mr Efstratios Malamidas. The Liberal party has rejected this support, saying that «the question of cooperation with EDA has never been raised, nor will it in the future.»

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