Athens News Agency: Daily News Bulletin in English, 01-11-21

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From: The Athens News Agency at <http://www.ana.gr/>

CONTENTS

[01] Greek growth to stay strong, OECD says

[02] Matviyenko in Greece to prepare for visit by Putin

[03] Simitis: 2002 budget aims for higher growth, economic stability

[04] ND asks for parliamentary inquiry into Public Securities affair

[05] PM Simitis holds talks with development minister

[06] Papantoniou on European security and defense

[07] Protopappas: Athens satisfied with decisions for EU army

[08] FYROM name issue discussed in Geneva

[09] Agriculture minister and EU official discuss Greek cotton

[10] Protopappas: Gov�t seeks to work with farmers for a solution

[11] Parliament ratifies bill on coastal areas

[12] US Ambassador, ND leader exchange views on Afghanistan, other regions

[13] EU expresses Greek side's view on Cyprus, Turkish deputy PM claims

[14] Archbishop Dimitrios meets NY Governor Pataki

[15] Reppas addresses event on employment of disabled people

[16] Culture minister receives US envoy

[17] Karamanlis sends congratulations to Parvanov and Rugova

[18] National Bank, Alpha Bank announce merger details

[19] Greek gov't ready for EU budget talks

[20] Greek stocks succumb to profit taking, end lower

[21] Olympic Torch for Winter Games at Panathenian Stadium

[22] Minister and Olympic Games official discuss Olympiad issues

[23] Venizelos: No gov't representative at IOC-ATHOC press briefing

[24] Greek federation positive over joint Euro 2008 bid

[25] De Soto to attend Clerides' and Denktash's face-to-face meeting

[26] UN welcomes meeting on Cyprus

[01] Greek growth to stay strong, OECD says

Athens, 21/11/2001 (ANA)

The rise in the country's gross domestic product is forecast at about 4.0 percent in 2002, more than double the average in the 12-member eurozone, which Greece joined this year, the Paris-based organization said.

In 2003, Greek growth is forecast to accelerate to 4.3 percent, against 3.9-4.0 percent in 2001, due to a decline in exports, the OECD said in a country report as part of a global survey.

Furthermore, supply-side inflationary pressures are expected to ease due to a drop in world oil prices and wage restraint, it said.

On the other hand, pressure from rising domestic demand will increase due to a continuous decline in interest rates, inflows of European Union cash, and the implementation of projects for the 2004 Olympics.

As a result, major short-term rises in retail prices cannot be ruled out, the report said.

It also noted that Greece's entry into the eurozone had provided a further incentive to fiscal stability and the implementation of structural reforms in the economy.

However, the government's fiscal policy should be more ambitious in order to control primary state spending more effectively.

The OECD again stated that greater speed in removing structural imbalances in the labor and goods markets would aid growth without pressure on inflation and improve wages in the medium term.

In 2001, investment would drop slightly due mainly to major losses incurred on the Athens Stock Exchange over the last two years. However, mortgages remained robust, spurring investment in real estate, the report said.

Also this year, Greece would show a small fiscal surplus of 0.2 percent of gross domestic product against a deficit of 1.1 percent of GDP in 2000.

The surplus would rise to 0.6 percent of GDP in 2002 and to 1.3 percent in 2003 due to a decline in the cost of servicing the public debt, in turn stemming from a drop in interest rates, a rise in tax revenue and robust growth, the OECD said.

In 2002-2003, the OECD forecast a rise in private consumption due to the advantages of eurozone membership, preparations for the Olympics and an inflow of EU funds. Although imports would rise, an upturn in the global economy would also aid exports.

Finally, unemployment would drop to 10.9 percent in 2002 from 11.2 percent in 2001, falling further to 10.4 percent in 2003, the report forecast.

[02] Matviyenko in Greece to prepare for visit by Putin

Athens, 21/11/2001 (ANA)

Afterward, Matviyenko said the preparations would mostly concern economic cooperation between the two countries and energy networks, while Papandreou described their meeting as "very constructive".

Stressing the great development in relations between Greece and Russia over the past year, the Russian deputy premier said that Moscow now sought to develop economic ties by boosting trade relations and cooperation in the energy sector, as well as broadening cooperation with Russia's regions.

She also predicted that the strong Greek-Russian ties would have a positive role in Balkan developments, where their positions were either identical or very similar.

"We combine our efforts in the search for political solutions in the Balkans," Matviyenko said, while stressing that cooperation between the two countries in the energy sector could also be extended to other countries in the Balkan Peninsula.

In earlier statements on Tuesday Matviyenko said that Russia had specific proposals for supplying the Balkan region with natural gas, as well as useful experience in the construction of the installations that would be needed.

Regarding the Burgas-Alexandroupolis oil pipeline, Matviyenko said it was a plan that was progressing steadily, if not as fast as the two sides would like.

Prior to meeting Papandreou, Matviyenko and Deputy Foreign Minister Yiannis Zaphiropoulos had chaired a Greek-Russian meeting to discuss bilateral cooperation and the Putin visit, as well as Russia's interest in supplying Greece with natural gas.

During the meeting, the two sides agreed to draft agreements on shipping, air transport and cultural exchanges that would be signed during the Putin visit.

In statements afterward, Matviyenko said that trade transactions between the two countries, both in terms of quantity and number of products traded, could increase.

On his part, Zaphiropoulos described the meeting as an "initial heat" for the later visit by Putin and said that bilateral relations between Greece and Russia were constantly improving.

Meeting with Tsohatzopoulos: Later on Tuesday, Matviyenko had talks with Development Minister Akis Tsohatzopoulos for two hours on all aspects of developing bilateral cooperation in trade, energy and tourism, including an in-depth discussion on the Burgas-Alexandroupolis oil pipeline and on expanding the natural gas network and its use in Greece.

"There is significant potential for developing new initiatives in the energy sector with the cooperation of Greece and Russia in the wider Balkan area," Tsohatzopoulos said after the meeting.

[03] Simitis: 2002 budget aims for higher growth, economic stability

Athens, 21/11/2001 (ANA)

During an address to ruling PASOK's Parliament group, he also referred to economic development and a "new social state" -- saying that the latter strengthen the country's international standing and its prestige within the European family of nations.

He added that the government is aware of the distance separating Greece's welfare state from the European norm, whereas "our decision is to significantly expand the social 'dividend' that corresponds to each citizen".

"What we're after is for Greek society to be characterized by the confidence and cohesion emanating from the European systems of welfare, health care, social security and solidarity," he said.

Among others, cited a figure of three trillion drachmas for public investments.

"We're observing the pact for a strong society, one that I announced at the Thessaloniki International Fair," he said, adding that this pact also comprises a framework for the strategic exploitation of Economic and Monetary Union.

In a later statement, a main opposition New Democracy spokesman blamed the ruling PASOK party for what he called the country's major social problems, problems he said have accumulated during PASOK reign in power over the past 20 years.

Response to ND proposal: Meanwhile, in a second address, Simitis called main opposition New Democracy's official request a few hours earlier for the creation of a parliamentary committee of inquiry to focus on allegations of wrongdoing by the state-affiliated Public Securities Co. (DEKA) -- prior to the April 2001 general elections -- as nothing more than a "counterplot".

He also charged that ND tabled its request without even examining what repercussions it will have on either the bourse or the economy, in general.

In response to questions by various PASOK deputies during the meeting regarding the government's overall image, Simitis said that if the economy's prospects are good then this will lead to more support by the citizens.

Conversely, he said a lack of cohesion and unity are negative criteria, especially when pluralism is transformed into a cacophony.

In terms of the farm sector, Simitis recognized that farmers feel insecure without subsidies, while saying that it was the government's obligation to create conditions that lessen such insecurity.

Specifically, he said developments for tobacco prices are going well, whereas for cotton, prices are better than what many analysts had forecast.

The prime minister reiterated that PASOK is the party that best represents the agricultural sector and farmers.

DEKA probe: A previously submitted prosecutor's inquiry has pointed to a breach of duty by three government ministers, all responsible for approving decisions of DEKA's board before the April 9 elections. The prosecutor's probe commenced after former ND president Miltiades Evert filed charges last year.

ND's request was approved during a meeting of the party's economic sector heads and reportedly signed by all of the party's Parliament MPs.

Evert has accused the state-run investment company of bulling up the market through bulk buying of large state-owned listed enterprises before the elections, only to remain inactive in a subsequent artificial slide.

[04] ND asks for parliamentary inquiry into Public Securities affair

Athens, 21/11/2001 (ANA)

All ND deputies signed the motion for a parliamentary committee to investigate the allegations.

ND parliamentary spokesman Prokopis Pavlopoulos told Parliament that the party's request also satisfied a request for such an inquiry by the public prosecutor investigating the case.

In a report sent to Parliament in September, the public prosecutor said evidence from his own inquiry pointed to a breach of duty and trust by Defense Minister Yiannos Papantoniou, Economy Minister Nikos Christodoulakis and Agriculture Minister George Drys.

The three were responsible for approving the decisions of DEKA's board during spring 2000, the period under investigation, the report said.

The prosecutor said the evidence also supported charges of breach of duty and breach of faith involving members of DEKA's board and of the Capital Markets Commission.

Since the three government officials were and still are members of the government and Parliament, therefore enjoying parliamentary immunity from prosecution, the prosecutor's report urged the House "to exercise its constitutional and legal functions" and vote on whether immunity should be lifted.

The prosecutor's investigation focused on DEKA's activities from March 21 to April 10 2000, before Greek general elections on April 9 that year, during which the company bought stock in Hellenic Telecommunications Organization, Hellenic Petroleum, National Bank of Greece and Commercial Bank, representing an outlay of 250 billion drachmas in state funds.

The investigation was ordered following charges of malpractice against DEKA filed by ND MP Miltiades Evert last year.

He had accused the state-owned investment agency of bulling up the market through bulk buying in state-owned firms before the elections, and being responsible for losses suffered by retail investors in the subsequent artificial slide.

[05] PM Simitis holds talks with development minister

Athens, 21/11/2001 (ANA)

Following their meeting, Tsohatzopoulos told reporters that their talks centered on issues related to the Public Power Corporation (DEH), energy, oil and natural gas.

Referring to the issue of DEH, the development minister termed as stable the existing timetable for its flotation, noting that a meeting is scheduled this week with Economy and Finance Minister Nikos Christodoulakis and with the competent advisers on the issue of the promotion of DEH in the international market.

He said that he expects the initial public offering (IPO) of DEH to take place at either the end of December or the beginning of 2002.

"Oil and natural gas will follow," he said.

[06] Papantoniou on European security and defense

BRUSSELS, 21/11/2001 (ANA - Y. Zitouniati)

At the EU's conference of foreign and defense ministers which convened here on Tuesday with the participation of their counterparts from candidate and European NATO countries which are not EU members, the candidates and European NATO countries not belonging to the EU increased their contributions to the European army and the European police, responding, as they said, to the new needs necessitated by the combatting of international terrorism.

Speaking at a joint press conference with Alternate Foreign Minister Tassos Giannitsis at the end of the conference, Defense Minister Yiannos Papantoniou praised the significance of their contribution from a political and operational aspect as being "a substantive addition for a more effective handling of crises" and "a positive omen of cooperation for the future."

Papantoniou focused on upgrading European security and defense in the EU's priorities, primarily after its expansion into the sector of handling terrorism, stressing that this classification was inconceivable a few years ago when all the weight was placed on economic and social integration processes.

On his part, Giannitsis also spoke of "a speedup in common foreign, security and defense policy rates under pressure by external factors" and said that the Balkans were an effective place for the implementation of this policy.

Cyprus also announced its participation in the European defense, in the framework of its possibilities. Turkey attempted to protest the presence of Cyprus at the conference but had to face the reaction of the Belgian presidency which termed the remark "inappropriate, irrelevant and groundless."

However, Cyprus will not provide additional forces for European defense "in an effort to facilitate the return to the negotiations process for a solution to the Cyprus issue," Cyprus's Defense Minister Socrates Hasikos said.

In another development, Cyprus's Foreign Minister Ioannis Kasoulides met on the sidelines of the conference with EU High Commissioner for foreign, security and defense policy issues Javier Solana, whom he also briefed on the upcoming meeting between Cyprus President Glafcos Clerides and Turkish Cypriot leader Rauf Denktash.

Diplomatic sources said Clerides' acceptance to meet Denktash on December 4 without fortifying himself behind the UN process was appreciated in Brussels as being yet another offer and opportunity for a solution to the Cyprus issue.

[07] Protopappas: Athens satisfied with decisions for EU army

Athens, 21/11/2001 (ANA)

While formal ratification of the decision was still pending, the meeting showed that the EU was pressing ahead with creating its own army, he added.

Protopappas said that Greece viewed this prospect positively, both in terms of European unification and in terms of its own security, given that it was located in a very sensitive region.

Outlining the decisions reached at the meeting from Brussels earlier in the day, Defense Minister Yiannos Papantoniou said that all the 15 EU member-states had been prepared to make significant contributions to cover shortfalls in the constitution of the European Army, so that it would be ready for deployment by 2003.

He said the meeting had taken the form of an intergovernmental conference and had explored what these gaps and shortfalls were and how they could be covered.

"I think the message that went out was that the EU's Common Foreign and Defense Policy is progressing well," he said.

Greece had offered to contribute additional weapons system to the European Army, Papantoniou added, including airborne surveillance systems, remote-controlled precision-targeting missiles, search-and-rescue helicopters and attack helicopters.

According to the minister, the meeting had also discussed the obstacles raised by Turkey to the use of NATO equipment by the EU and its demands for a role in European defense planning, which Papantoniou said could also affect Greece's planning of military exercises in its own territory.

Papantoniou said that he had repeatedly stressed that this was not a Greek-Turkish bilateral issue but an EU-NATO issue, which should be resolved on the basis of the EU summit in Nice.

He said that Greece was waiting for the results of initiatives undertaken by the UK and the United States, while noting that any solution should not limit the autonomy of the EU in defense planning and policy or in any way compromise the sovereign rights of any EU member-state.

[08] FYROM name issue discussed in Geneva

GENEVA, 21/11/2001 (ANA)

Greece's permanent representative to the UN, Ambassador Ilias Gounaris, his FYROM counterpart Ambassador Ivan Tosenvski, and the UN Secretary General's special representative Mathew Nimetz took part in the meeting.

Athens has been at odds with FYROM for years over the issue of the land-locked Balkan state's name, insisting that the word "Macedonia" should not be included in the name of the former Yugoslav republic, as it implies expansionist designs against Greece's own large northern province, Macedonia, as well as being a historical misrepresentation.

However, relations between Greece and the 10-year-old state to its north have dramatically improved since the two countries signed an interim agreement in New York under the UN's auspices six years ago.

[09] Agriculture minister and EU official discuss Greek cotton

BRUSSELS, 21/11/2001 (ANA - M. Spinthourakis)

Drys briefed the EU commissioner on concern felt by Greek producers regarding the finalization of cotton prices. It was agreed that Greece will complete its assessments on the final amount of cotton production this year and communicate them to the European Commission.

Drys will also be having a new meeting with the EU commissioner in Brussels on November 27, where the EU's Council of Fisheries Ministers will be convening.

On the question of tobacco, Fischler informed Drys that the European Commission intends to submit a proposal to the Council on Wednesday on the amount of subsidies for each group of tobacco varieties and the total amount of subsidized quantities for each member-state for crops in 2002, 2003 and 2004.

Subsidies to be proposed, as well as the volume of production to be subsidized, will be similar to those in effect for the 2001 crop, Fischler said. The EU�s Council of Agriculture Ministers will discuss the Commission�s proposal.

Drys held private talks with his Italian and Spanish counterparts focusing on EU policy on tobacco. Well-informed sources said the three countries' views on the issue converge on the assessment that EU producers should continue to be subsidized by the EU, taking into consideration the great importance of tobacco.

[10] Protopappas: Gov�t seeks to work with farmers for a solution

Athens, 21/11/2001 (ANA)

Reiterating that Athens would fight for tobacco subsidies at the European Union, he said the government sought to rally the farmers and work with them to achieve a good solution.

He also said that efforts were continuing to stamp out corruption and scams in the collection of cotton, so that cotton growers were not harmed by them.

Asked about the role of main opposition New Democracy and the Communist Party of Greece in arousing farmers to protest, the spokesman called on ND to show consistency and fight its own battle for the retention of tobacco subsidies.

"[ND leader] Costas Karamanlis has still not gone to the European Popular Party to block the resolution for cutting tobacco subsidies. If he were prime minister, he says, he would go to Brussels. Well, here's his chance," Protopappas said.

[11] Parliament ratifies bill on coastal areas

Athens, 21/11/2001 (ANA)

Certain amendments were brought to the bill after objections voiced particularly on the second article of the bill, which al-lowed the use of coastal areas and beaches for environmental public benefit and the facilitation of the "superior public interest", while it called for the protection of the free and unhindered use of the beach areas by everyone.

The same article also forbade the construction of structures on beaches, except in cases where the aforementioned aims call for structures to be built.

140 ruling PASOK party deputies voted for the bill, while 124 deputies of opposition parties voted against.

PASOK deputies Theodoros Pangalos and Yiannis Kapsis who were apparently satisfied with changes made in the bill last week by Deputy Finance Minister Apostolos Fotiadis also voted them.

[12] US Ambassador, ND leader exchange views on Afghanistan, other regions

Athens, 21/11/2001 (ANA)

Miller, who called on Karamanlis at the ND headquarters, told reporters after the meeting that they had an exchange of views on the situation in Afghanistan and other regions during their "very satisfactory and good discussion".

The American envoy noted that the meeting was part of the "regular contacts each American ambassador in Athens must have", and described ND as a "responsible party" that "takes responsible positions".

"I do not simply make statements, I am interested in Costas Karamanlis' views and advice, and that is why I ask many questions to learn his positions and views, which I take into account," Miller said.

The American envoy also declined comment on press reports that an Afghan supporter of Osama bin Laden was residing in Athens, saying only "I saw it in the newspapers".

Sources said later that Miller outlined to Karamanlis the difficulties existing in the formation of a government in Afghanistan.

They cited Miller as saying that there was a delay due to the different approaches among the various tribes of that country, and stressing that the US wished to also take into consideration the desires of the allies in the region.

The sources further said that Miller also stressed that an initiative for the resolution of the Middle East problem would also begin to be developed gradually, the first stage of which was essentially announced Monday by US Secretary of State Colin Powell.

Miller further indicated that the US wished to proceed to an overall settlement of the problem, taking into consideration all the regional players, with the exclusive goal being to achieve a firm peace with the uprooting terrorism in the Middle East region, the same sources added.

[13] EU expresses Greek side's view on Cyprus, Turkish deputy PM claims

ANKARA, 21/11/2001 (ANA - A. Abatzis)

Bahceli, the leader of the right-wing Nationalist Action Party and a coalition partner in the Turkish government, made the statements on the heels of other recent threats by Turkey's leadership to annex the Turkish-occupied portion of Cyprus, among others, if the island republic continues on its successful course towards European Union accession.

The internationally recognized Republic of Cyprus is among the front-runners for EU entry in the Union's upcoming expansion, regardless of the fact that one-third of its territory is occupied by Turkey.

"Turkey will continue to defend its rights against the European Union, which expresses the Greek side's positions," Bahceli said.

Speaking to his party's Parliament group, he also criticized voices within Turkey calling for a revision of Ankara's policy vis-a-vis Cyprus, adding that "all those in favor of (Turkey's) accession to the EU, to the point of subservience, also want us to surrender Cyprus in the same manner."

[14] Archbishop Dimitrios meets NY Governor Pataki

NEW YORK, 21/11/2001 (ANA - M. Georgiadou)

During the meeting at the governor's office in Manhattan on Monday afternoon, they referred to thoughts being voiced for the creation at the site where the World Trade Center once stood of a monument in memory of the victims of the tragedy.

Governor Pataki thanked the Archbishop and the leaders of the Greek-American community for the opportunity given to discuss the issue of the reconstruction of the church and that of the area in general.

[15] Reppas addresses event on employment of disabled people

Athens, 21/11/2001 (ANA)

Reppas, who attended an event in Athens on the employment of disabled people, noted that one in ten people in the European Union suffer from some physical, mental or psychological illnesses and are threatened with social exclusion.

He said that in Greece substantial measures have been taken to enable disabled people to acquire employment.

He said that within the framework of the "Combatting Exclusion from the Labor Market" program, 12,826 people with disabilities benefited from the 2nd Community Support Frame-work (CSF) through the disbursement of 20.6 billion drachmas

[16] Culture minister receives US envoy

Athens, 21/11/2001 (ANA)

Olympic preparations and bilateral relations in the cultural field dominated discussions, according to reports.

[17] Karamanlis sends congratulations to Parvanov and Rugova

Athens, 21/11/2001 (ANA)

In his message to the new president of Bulgaria, Georgi Parvanov, Karamanlis expressed the hope that the historic bonds of friendship between the two countries will be strengthened and that the common interests of Greece and Bulgaria in southeastern Europe will be further advanced. The ND leader reiterated his support to Bulgaria's efforts to join NATO and the European Union.

In his letter to the leader of the Democratic League of Kosovo (LDK), Ibrahim Rugova, Karamanlis said that he was in favor of consensual procedures, in order for the future of all the sides in developments in the region be secured, so that Kosovo constitutes a factor of stability, cooperation and understanding.

A telegram of congratulations to Parvanov was also sent by Coalition of the Left and Progress (Synapismos) leader Nikos Constantopoulos.

[18] National Bank, Alpha Bank announce merger details

Athens, 21/11/2001 (ANA)

Presenting details of their merger plan, National Bank's governor Theodore Karatzas and Alpha Bank's chairman and chief executive Yiannis Kostopoulos, said that a share-swap ratio to be proposed to both banks' shareholders was seven shares of the single bank to nine Alpha Bank's shares.

The two bankers said that the legal merger was expected to be completed in the first six months of 2002 and that merger cost would total 220 million euros, to be distributed in the period 2002-2004, while the benefits from the merger were focusing in expanding revenues by 85 million euros and reducing operating costs by 200 million euros by 2005.

Karatzas will take over as executive chairman of the new group and Kostopoulos will be the bank's governor.

Both men pledged that there would be no lay-offs following the merger and that a voluntary retirement program to be implemented would cover 10 percent of the new bank's workforce.

Theodore Karatzas said the new group would offer a wider range of career opportunities to its staff.

The two banks' branch network will continue operating in parallel by the end of 2002 with a procedure to restructure branch network and establishing a new company identity is expected to be completed by mid-2002.

Karatzas said the bank's new organic structure, reflecting its new strategic goals, would be announced next month.

He said that the merger would result to significant synergies for the single group, particularly in the technology and computer sector (with the creation of a single technological platform), the distribution network (network restructuring, integrating electronic banking systems) and the credit policy sector.

Yiannis Kostopoulos said the new bank would be in a position to offer lower interest rates in loans and higher interest rates in savings, while Karatzas stressed that the new bank's shareholders would receive higher dividend payment.

The new bank will pursue its goal to expand in foreign markets, increasing its share in regional markets and strengthening its share in the world's major financial centers.

The bank will have 374 units in 18 countries with 6,730 staff. The new group's assets will total 79.635 billion euros. Loan portfolio will total 33.734 billion euros and deposits of 65.578 billion euros. Its equity capital will total 5.281 billion euros, revenues of 2.450 billion and pre-tax profits (with no minority rights) of 882 million euros.

Total branch network is 1,014 with another 1,595 ATMs. The group's workforce totals 31,996, with the retail customers number at 6,200,000 and business clients of 83,000. Credit card holders exceed 1,200,000.

Karatzas dismissed criticism that the merger would have a negative impact on domestic competition.

[19] Greek gov't ready for EU budget talks

Athens, 21/11/2001 (ANA)

Talks and decisions in the council are considered particularly important for the Greek government because they will cover European Commission's proposals on spending in farm subsidies, with the Greek interest focusing in tobacco and cotton subsidies.

A meeting between Economy and Finance Minister Nikos Christodoulakis, Agriculture Minister George Drys and Deputy Economy and Finance Minister George Floridis in the previous days agreed in the framework of moves and interventions to be taken by the Greek government in the EU budget council to ensure Greek producers' interests.

The council will also discuss a proposal to create a reserve fund, of 200 million euros, and financial support to EU regions neighboring with countries candidate for EU accession.

[20] Greek stocks succumb to profit taking, end lower

Athens, 21/11/2001 (ANA)

National Bank's share price fell 9.8 percent immediately after the news of the merger details only to recover part of its losses by the close to end 5.34 percent lower, while Alpha Bank's shares rose 0.75 percent.

The general index fell 0.72 percent to 2,776.76 points, with turnover an improved 94 billion drachmas or 276 million euros.

The Textiles and Wholesale sectors scored the biggest percentage gains (1.85 percent and 1.83 percent, respectively), while the Bank and Insurance sectors suffered the heaviest losses (1.54 percent and 0.96 percent, respectively).

The FTSE/ASE 20 index for blue chip and heavy traded stocks ended 1.20 percent lower, the FTSE/ASE MID 40 index rose 0.23 percent and the FTSE/ASE SmallCap 80 index increased by 0.69 percent.

Broadly, advancers led decliners by 209 to 120 with another 34 issues unchanged.

Bond Market Close: Prices mixed in heavy trade: Bond prices in the domestic secondary market on Tuesday finished mixed in heavy trade focusing on five-year paper.

The Greek benchmark 10-year bond showed a yield of 4.93 percent, and the yield spread over German bunds was 41 basis points.

Turnover through the central bank's electronic system totalled 2.2 billion euros.

Buy orders accounted for just over half of turnover.

Derivatives Market Close: Equity futures remain in the black: Equity futures on the Athens Derivatives Exchange on Tues-day retained a premium of up to 1.0 percent despite coming under pressure, traders said.

Changing hands were 9,030 contracts on turnover of 62.0 million euros.

The underlying FTSE/ASE-20 index for heavily traded stocks and blue chips shed 1.2% percent; and the underlying FTSE/ASE-40 for medium capitalization stocks rose by 0.23 percent.

[21] Olympic Torch for Winter Games at Panathenian Stadium

Athens, 21/11/2001 (ANA)

One of the torch bearers was U.S. Ambassador to Athens Thomas Miller who, in the pouring rain, ran a few meters at the height of the U.S. Embassy, before handing over the torch to the last runner, Sofia Mystrioti.

The Olympic Torch will remain at the Panathenian Stadium until December 3 when the president of the Greek Olympic Games Committee, Lambis Nikolaou, will hand it over during a special ceremony to the representative of the Organizing Committee of the Salt Lake City Winter Olympic Games.

The Olympic Torch was lit at Ancient Olympia at noon on Monday.

[22] Minister and Olympic Games official discuss Olympiad issues

Athens, 21/11/2001 (ANA)

The meeting was reportedly held in a very good climate and Daskalaki said one should focus on the important issues and arguments should stop on who does what and tensions should be avoided.

Papandreou said alternative scenarios were also examined in the event something goes wrong with projects scheduled and for this reason there will be continuous cooperation between the two sides.

"We had a meeting on the better coordination of the Olympic Games' preparation, which is a very important undertaking for the country," Papandreou said.

On her part, Daskalaki said the purpose of the meeting was "for us to see practically as well what can be done if something goes wrong. The Olympic Games undertaking requires cooperation and coordination."

Referring to the visit to Greece by international Olympic Committee (IOC) coordinator Dennis Oswald, she said it is a scheduled visit.

"He will give us his advice and watch closely the development of projects," she added.

Oswald is due in Athens on Wednesday night although he underwent surgery in one of his legs a few days ago and doctors advised him to rest until he has completely recovered.

IOC sources said, however, that Oswald could not miss the regular check due to start on Thursday morning. But what signals new developments in the Olympic preparations organizing formation, and the change in climate in the government and the Organizing Committee, was his expected intervention in the issue of the presence of a government official in the traditional press conference he gives with Daskalaki.

According to authoritative reports, Oswald had a telephone conversation with Prime Minister Costas Simitis on the issue and they both agreed on the cancellation of the presence of a government official at the press conference, following the change in the method of communication between the Swiss official and the government.

Government and Organizing Committee officials believe that this development is in the right direction and it will facilitate an improvement in the climate between all agencies involved and IOC officials.

[23] Venizelos: No gov't representative at IOC-ATHOC press briefing

Athens, 21/11/2001 (ANA)

Culture Minister Evangelos Venizelos' announcement comes after his previous statement earlier in the month, namely, that he would be present at the next press conference along side IOC vice-president Denis Oswald and ATHOC head Gianna Angelopoulos-Daskalaki -- a customary event on the sidelines of regular IOC inspections to gauge progress for the Games.

Oswald, an IOC vice-president, heads the Lausanne-based organization�s commission overseeing progress for the 2004 Athens Games.

Venizelos made the statement at luncheon here on Tuesday hosted by the Foreign Press Association.

He added that it was no longer necessary for a government representative to participate at the press conference because contacts between Greek Prime Minister Costas Simitis and other relevant ministers would take place after the end of the IOC delegation's checks, and not before or during the process, as was the case until now.

Venizelos, whose portfolio includes oversight of ATHOC's operation, said this would allow the government to provide answers to whatever queries Oswald and the IOC may have.

In other matters, Venizelos strenuously denied that Angelopoulos-Daskalaki had tendered her resignation recently or that his relations with the ATHOC head have deteriorated.

"Ms Angelopoulos would be the last to abandon the battle in the face of this huge undertaking," he told foreign correspondents just 24 hours before Oswald and other IOC experts arrive in Athens.

[24] Greek federation positive over joint Euro 2008 bid

Athens, 21/11/2001 (ANA)

"It's a first-class opportunity, along with the 2004 (Olympic) soccer tournament, for Greek football to acquire infrastructure, organization and vision on a European level," EPO president Vassilis Gagatsis said.

The Greek and Turkish federations agreed last week to table a joint proposal for hosting the Euro 2008 tournament, with the first game played in Istanbul and the final in Athens.

[25] De Soto to attend Clerides' and Denktash's face-to-face meeting

NICOSIA, 21/11/2001 (CNA/ANA)

Clerides and Denktash will meet December 4, at 10:00 local time, at the residence of the UN Secretary - General's Acting Special Re-presentative in Cyprus Zbigniew Wlosowicz, in the buffer zone. De Soto will attend the meeting, which is the result of an exchange of letters between the president and Denktash and will take place in the framework of Kofi Annan's good offices.

This is the first time in years that Clerides and Denktash will meet face-to-face. They have been engaged in proximity talks since December 1999 but Denktash abandoned them in November last year, and in September this year he rejected Annan's invitation to resume the search for a settlement.

He then sent a letter to President Clerides, inviting him to a meeting without preconditions. Following an exchange of letters, the two leaders have agreed to meet.

Government spokesman Michalis Papapetrou said the meeting would take place based on the explanations given by the two leaders in their letters. He also made it clear that any developments in the talks for a settlement in Cyprus will not suspend or delay Cyprus' accession to the EU.

He expressed hope that "the Turkish stance on the Cyprus problem will change" and noted that "there is time to reach a settlement without having the accession delayed."

Papapetrou said "all aspects of the Cyprus question will be discussed and efforts will be made to overcome all those obstacles that hindered the proceeding of the dialogue within the procedure of the proximity talks."

Cyprus has been divided since 1974 when Turkish troops invaded and occupied 37 percent of its territory.

[26] UN welcomes meeting on Cyprus

NICOSIA, 21/11/2001 (CNA/ANA)

"The Secretary General is pleased that the Greek Cypriot leader, His Excellency Mr. Glafcos Clerides and the Turkish Cypriot leader, His Excellency Mr. Rauf Denktash have now agreed to meet in Cyprus on 4 December 2001," Annan's spokesman said in a written statement. The Secretary General hopes this meeting will "move the process forward," the spokesman added.

The meeting is the result of an exchange of letters between the president and Denktash and it will take place in the framework of Anna's good offices.

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