August 8, 1954

GREEK ECONOMY I: New York, 6 – A report by the US Federal Reserve Bank was released here today referring to the economic, monetary and fiscal situation in Greece. It is clear that this report is of particular significance. Apart from the recommendations it makes, it attributes the general situation in the Greek economy, which it finds most satisfactory, to the revaluation of the drachma and American economic aid. GREEK ECONOMY II: The coordination minister, Mr Thanos Kapsalis, addressed the Greek people yesterday evening in a radio broadcast. In his speech, he referred to the results achieved in the economic sector by means of the currency revaluation (under Spyros Markezinis). Mr Kapsalis also outlined the general lines of economic policy for the current financial year (beginning July 1). COASTAL TRAM ROUTE: Yesterday the last tram tracks were removed from the coastal road between Palaio Faliron and Tzitzifies. The avenue between the Faliron Delta and the district of Tzitzifies will be widened to facilitate the movement of traffic.