Athens News Agency: Daily News Bulletin in English, 02-01-31

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

CONTENTS

[01] Simitis outlines Athens' views on EU expansion, future, refers to a �democratic, prosperous and peaceful Europe�

[02] Prodi cites 'complete agreement' between EU, Athens over crucial issues

[03] Commission approves Greek economic stability program

[04] State Department on Aegean and Greek-Turkish relations

[05] Greek FM discusses Greek-Turkish affairs, Cyprus issue in televised interview

[06] Israeli envoy sharply criticizes Arafat; comments on 'Karine A' incident

[07] Protopapas: Gov�t will take measures against illegal gambling

[08] Greek education minister meets Spanish counterpart

[09] German gov't adamant against reparation payments to Greek Nazi victims

[10] Citizen's advocate gives press conference

[11] Greek deputy FM visits Orthodox Ecumenical Patriarch

[12] Greek ND deputy among NATO delegation on visit to

[13] EU Commissioner Diamantopoulou meets European Women's Union president

[14] Mitsotakis meets with Turkish ambassador

[15] Journalists union to propose strike action on February 7

[16] Greeks, Russians, Bulgarians hold talks on Burgas-Alexandroupoli pipeline

[17] Natural gas link under study for Greece and Turkey

[18] Iran in talks with EU, Greece on natural gas exports

[19] Verelis: Plan for electrically driven rail line stands

[20] Sanyo Hellas gets stake in Ukrainian natural gas

[21] OA spare parts suppliers all recognized dealers, airline says

[22] Investment firms' assets down in December 2001

[23] Greek bourse to rise by 8.0 pct in 2002, analyst

[24] Greek stocks end 1.12 percent down

[25] Athens 2004 Organizing Committee examines 2002 budget

[26] Public Power Corp. to build five new power units for 2004 Olympics

[27] Monumental project for Olympiad ready in spring of 2004

[28] Classical music concert to benefit renovation of Greek Church in Venice

[29] Greece condemned for lacking sea turtle protection system

[30] Clerides and Denktash hold sixth meeting on Cyprus' future

[31] Cyprus says no to rotating presidency

[32] Eurostat: Cyprus third among EU candidates in per capita

[01] Simitis outlines Athens' views on EU expansion, future, refers to a �democratic, prosperous and peaceful Europe�

BRUSSELS, 31/01/2002 (ANA)

Simitis made the statement during his address to the European Commission�s plenum here, while outlining what he called five major challenges for the bloc in the upcoming future, namely, expansion; implementation of the Lisbon strategies amid a negative economic climate; Europe�s sensitive farm sector; citizens� security and, the continent�s future.

In terms of EU expansion, Simitis said the goal is to form an expanded and well-structured region that will rank as a model for the rest of the world, which citing what he called �the vision of a democratic, prosperous and peaceful Europe, one which, among others, will include the countries of south and southeast Europe�.

Regarding the funding and organizational aspects related to the inclusion of several prospective new EU members in the near future, Simitis called for a solution combining �effectiveness, efficiency, stability and diverseness in a more fully integrated Europe.�

As far as economic growth in the Union is concerned, the Greek premier said particular emphasis should be focused on technology and education; policies to increase employment and social cohesion, along with the more effective operation of the markets, �particularly in the most protected sectors, such as energy, transports and telecommunications�.

Touching on agriculture policy in the EU, Simitis � who at one time served as Greece�s agriculture minister � said a truly common agriculture policy should be promoted and safeguarded throughout the Union.

The growing problem of illegal immigration was also prominently featured in the Greek PM�s address, as Simitis cited the Laeken commitment by EU leaders for a common policy on asylum and migration.

Specifically, he called for the need to finalize various bilateral and multilateral agreements on the repatriation of migrants � something Greece and Turkey agreed to late last year � development of a common policy on asylum; creation of a special fund to finance repatriation as well as the establishment of a special body to monitor EU-wide immigration and related issues.

Greek-Turkish relations: Simitis cited the recent rapprochement in Greek-Turkish relations in his address as well, agreeing that progress has been re-corded, �although we�re waiting for clear indications that attitudes, behaviors and other aggressive positions of the past will be forever abandoned before we move even further ahead.

�The Helsinki decision was significant for all sides; it created an intense mobility towards efforts to find a political solution for Cyprus. Cyprus� European course, regardless of its political problem, as well as Turkey�s efforts towards a European vocation, are correct strategic choices. Their fulfillment will create a new positive reality for the region, as well as for the European Union.�

Finally, Simitis said conclusion of accession negotiations with a handful of �first group� EU member-candidates will be among Athens� priorities during the Greek EU presidency in the first half of 2003.

[02] Prodi cites 'complete agreement' between EU, Athens over crucial issues

BRUSSELS, 31/01/2002 (ANA)

Prodi spoke here at a joint press conference with Greek Prime Minister Costas Simitis -- who addressed the European Com-mission earlier � where he referred to Greece�s �essential� role in the Balkans, while at the same time expressing the EU�s satisfaction over Athens� contribution to stability in the often-troubled region.

On his part, Simitis called his talks with the Commission �fruitful�, before terming his across-the-board talks with Prodi as �very friendly and interesting�.

Touching on EU expansion, Simitis cited the need for timetables with �first wave� candidate-states to be met by the end of 2002.

Referring to Turkey�s involvement in EU-NATO relations as well as Greece�s refusal to accept a previous British-US formula aimed at a compromise deal with Ankara over the �Euro-Army� issue, Simitis said that the self-evident fact precluding the alliance from intervening in possible conflicts between member-states was just as self-evident as the fact that a member-state cannot attack another member-state � a clear reference to Ankara�s threats over the years.

He also noted that Turkey�s stance over the years has led to the situation where a portion of the Aegean is excluded from NATO exercises.

[03] Commission approves Greek economic stability program

BRUSSELS, 31/01/2002 (ANA / V. Demiris)

The EU's executive, however, urged for speedier moves in reducing the country's public debt and for measures to deal with the social security problem.

A Commission announcement said that Greece's updated stability program, submitted in December 2001 and covering the 2001-2004 period, was in line with the requirements of a Stability and Development Pact in the eurozone. "Greece's GDP growth was 4.1 percent in 2001, slower from a target envisaged in the 2000 stability program due to an international economic slowdown."

The Commission noted that the updated program was based on a realistic macro-economic scenario envisaging relatively rapid growth rates. "Economic growth is based on significant public and private investments ahead of the Athens 2004 Olympic Games, and to lower interest rates in the wake of the country's entry in EMU."

The European Commission noted that increased economic activity in the country last year resulted to a general government's budget surplus, estimated at 0.1 percent of the country's gross domestic product, down from a target of 0.5 percent. The slowdown is attributed to lower tax revenues and to higher primary spending (mainly wages and transfer payments), the Commission said.

The two negative factors were partly counterbalanced by increased revenues from the sale of UMTS third generation mobile telephony licenses, accounting for 0.4 percent of GDP.

Greece's updated stability program is based on a macro-economic scenario envisaging a real GDP growth of around 4.0 percent annually, slower from a forecast made in the 2000 program. "Forecasts for a real GDP growth are considered realistic and in line with the Commission's forecasts made in February 2001," the announcement said.

The EU's executive also noted that the stability program envisages budget surpluses during the whole period.

The Commission said that these forecasts did not need any new fiscal adjustment efforts as a general government's surplus al-most fully reflected a steady decline in interest rate payments.

The program does not envisage any lowering of current primary spending, nor the imposition of any binding spending limits, contrary to the recommendations made by the EU's Council last March.

The Commission noted that achieving high primary surpluses was very significant in a drive to rapidly reduce the country's public debt. However, the general government's primary surplus is expected to gradually reduce from 6.4 percent of GDP in 2002 to 6.0 percent of GDP in 2004.

Updated forecasts to reduce the public debt will be slower compared with the previous year's estimates: the public debt is expected to fall from 99.6 percent of GDP in 2001 to 90 percent in 2004, off an initial forecast of 84 percent, the Commission said. "Developments in public debt are permanently affected by financial transactions. Part of these transactions is not registered in the budget and the resulting lack of transparency casts a doubt on the quality of fiscal adjustment," it said in its report.

The Commission urged the Greek government to proceed with a plan to reform the country's pension system as the country was expected to face grave fiscal imbalances because of the ageing of its population.

Structural reforms were the main target of economic policies in the updated Greek program.

[04] State Department on Aegean and Greek-Turkish relations

WASHINGTON, 31/01/2002 (ANA / T. Ellis)

Asked to describe the contents of the talks which Prime Minister Costas Simitis had with Powell on January 10 within the context of the Greek prime minister's visit to the US capital and to what extent the Aegean issue was discussed, Boucher said "what I could say is that I think just about every time the Secretary met with Foreign Minister Papandreou or with the Greek Prime Minister, they�ve discussed the Aegean, they�ve discussed Greek-Turkish relations. And It�s a subject we discuss with the Turks as well. So we�ve been very interested and supportive of the steps Greece and Turkey have been taking, of the fact that that they�ve been discussing a lot of issues together."

[05] Greek FM discusses Greek-Turkish affairs, Cyprus issue in televised interview

Athens, 31/01/2002 (ANA)

This issue is not just acceptable by Greece, it was Greece that desired to resolve it as soon as possible, Papandreou said, stressing that this should take place "of course with a legal process leading to the formulation of a framework and the drafting of a common agreement at the (International Court) at The Hague, which would contribute technically to the final delineation of the continental shelf".

"We have conducted a dialogue over the past two years with Turkey on a series of subjects with positive developments in this sector and we should indeed discuss many problems," he said.

Speaking on the Cyprus issue and on contacts between Cyprus President Glafcos Clerides and Turkish Cypriot community leader Rauf Denktash, Papandreou said that "it would be a mistake to attempt to extract conclusions from these first few contacts".

"This process will last, as UN General Secretary Kofi Annan said, for about six months, that is until June. Then he (Annan) will assess the extent the process has moved ahead and will state who was unhelpful in the effort to resolve the Cyprus problem. So it is very early to evaluate the whole process," Papandreou said.

Protopapas on talks with Turkey: We can say no if there are problems: Should problems arise during talks with Turkey, or if Turkey raised unreasonable demands, Greece still had the option of saying no, government spokesman Christos Protopapas pointed out on Wednesday.

The impending dialogue with Turkey will take place within the framework of international law and at a time when Turkey is keenly interested in its European course, government spokesman Christos Protopapas stressed.

Greece had to begin talks with faith in the country's positive image in the international community, on the basis of which initiatives were being taken to bring Greece into the heart of developments, he added.

Regarding a television broadcast on Tuesday, during which it was claimed that Greek and Turkish secret services had collaborated in the Ocalan case, Protopapas said that it was a general principle that all relevant services collaborated to deal with international terrorism.

The spokesman also noted, however, that former minister Theodoros Pangalos had given full answers regarding the specific issue on Tuesday.

Government spokesman Protopapas on Cyprus issue: The framework for the solution of the political problem in Cyprus is a given fact, government spokesman Christos Protopapas said on Wednesday in response to statements made by Turkish officials on the Cyprus issue.

Protopapas explained that it concerned the framework of the decisions and resolutions of the United Nations which has repeatedly termed the status quo in Cyprus as "unacceptable" and has called for the pullout of the Turkish-occupation troops.

The spokesman added that the same policy has been accepted by the European Union which is already negotiating with the legal government of the Republic of Cyprus the island republic's EU accession course, "a course which we believe will soon be completed."

Concluding, Protopapas said that "it has been proven that every display of intransigence by the Turkish side leads it only to international isolation."

[06] Israeli envoy sharply criticizes Arafat; comments on 'Karine A' incident

Athens, 31/01/2002 (ANA)

�We�re certainly not going to murder him (Arafat) � (the tanks outside his office) are there in order for him to understand that he should fulfill his part,� Israeli ambassador David Sasson said at an embassy press briefing, adding however, that it was up to the Palestinians themselves to decide their leadership.

Sasson repeatedly laid the blame on the Palestinian leader and his top lieutenants for the spiraling violence in the area, noting, among others, that Arafat was totally unreliable and two-faced.

Meanwhile, in response to press questions about an incident last month that included references to alleged Palestinian activities in Greece related to the seizure by Israeli forces of a weapons-laden ship in the Red Sea, Sasson simply referred to Israeli television footage showing the captain of the intercepted �Karine A� stating that Palestinian officials in Athens coordinated the weapons� transport.

Israeli forces intercepted the �Karine A� as it sailed in the Red Sea off the coast of Saudi Arabia, and some 500 kilometers from Israeli waters, last month. Some 50 tons of weapons were subsequently discovered on board, Israeli authorities announced at the time.

On Wednesday, Sasson reiterated that the Palestinian captain�s confession and televised statements citing a connection with Palestinians in Athens lead to the conclusion that Palestinians in Greece provided instructions for the operation.

When the story broke last month, the Palestinian Authority�s diplomatic representation in Athens categorically denied that its envoy to Greece was linked to the �Karine A� incident, adding that international wire stories linking Palestinian ambassador in Athens Abdullah Abdullah in the case were �fallacious and groundless.�

Finally, he mentioned that Israeli officials have provided supplementary information over the incident to Greek authorities -- �we�re still dealing with it�, he stressed.

[07] Protopapas: Gov�t will take measures against illegal gambling

Athens, 31/01/2002 (ANA)

He referred reporters to statements made on Tuesday by Finance Minister Nikos Christodoulakis on the issue.

The primary goal was to maintain legality but prohibitions might also be imposed if there was a need for them, the spokesman added.

Regarding the employees of establishments involved in such activities, Protopapas stressed that the protection of society as a whole was a complex concern of the government, and that this view did not run against the intention to establish procedures of control for society's protection.

[08] Greek education minister meets Spanish counterpart

Athens, 31/01/2002 (ANA)

Replying to questions, the Spanish education minister said that during her talks with Efthymiou, she ascertained there was an identity of views and priorities with regard to the role which education must play in Europe and the role which the education ministers should develop within the framework of the Council.

[09] German gov't adamant against reparation payments to Greek Nazi victims

BERLIN, 31/01/2002 (ANA - P. Stangos)

This political solution sought by the German government would include a "goodwill gesture" on its part, which in turn would be responded to by the abandonment of all legal action taken by Greeks.

German diplomatic sources stressed that Germany fears that once such claims are vindicated there would be no end to them and if Greece had some 200 villages destroyed during the occupation, the Ukraine, for example had some 30,000 villages destroyed, making it an impossible problem to handle.

[10] Citizen's advocate gives press conference

Athens, 31/01/2002 (ANA)

Buckley concluded a three-day working visit to Greece for talks with cadres and staff of the Greek Authority. Issues examined by the two sides was the system of public administration compensating citizens, applied in Britain in cases of mismanagement or violation of legality, as well as the handling of citizens' reports on health issues, since Buckley is the Citizen's parliamentary advocate and the person responsible for health issues.

The institution of parliamentary Ombudsman anticipates the citizen resorting to his region's deputy who mediates to have his case reach the citizen's parliamentary advocate.

According to Diamantouros the citizen's biggest problems in both countries concern tax offices, pensions and local administration. He appeared optimistic over the institution's course and his cooperation with public administration.

Buckley said both countries are facing difficulties with public administration which, as he said, is reacting to changes and to efforts to improve it.

[11] Greek deputy FM visits Orthodox Ecumenical Patriarch

ISTANBUL, 31/01/2002 (ANA - G. Psillias)

After the meeting, Magriotis stressed that the Patriarchate and the Greek community in the city constitute a bridge of cooperation between the peoples of Greece and Turkey and have their own place in this new era of rapprochement.

The deputy foreign minister added that the Patriarchate and the Greek community were looking forward to the rapprochement of the two peoples and the improvement of the bilateral relations, as they believe that they would resolve their own problems through this venue.

He added that those problems would also be resolved with Turkey's European Union accession course, if Ankara adopts sections of the Union's acquis communautaire.

Earlier in the day, Magriotis and the Greek delegation followed liturgy officiated by the Patriarch in a day dedicated by the church to students.

Deputy FM visits Halki Theological School while in Turkey: Greek Deputy Foreign Minister Yiannis Magriotis, currently on a visit to Turkey, on Wednesday conducted the first ever visit by a member of the Greek government to the Theological School on the island of Halki, which has been shut since 1971.

Orthodox Ecumenical Patriarch Vartholomeos has pushed hard in recent years for the Halki school to re-open, with the help of the Greek government.

Magriotis also met in Istanbul with some of the few remaining members of the city's Greek community and with members of Turkey's business community, including one of the president's of the Greek-Turkish Business Cooperation Council.

[12] Greek ND deputy among NATO delegation on visit to

US WASHINGTON, 31/01/2002 (ANA - T. Ellis)

In Washington, the deputies of NATO countries met with senior State Department and Department of Defense officials, U.S. Congressmen and Senators, members of the Congress's Defense and Foreign Affairs Committees and experts on security issues and foreign policy.

The delegation discussed with them developments in NATO, NATO's expansion, international terrorism, NATO-Eurodefence relations, developments in the Balkans and inter-NATO relations, such as between Greece and Turkey.

During his talks in Washington, Pavlidis set out Greek positions on a series of issues of Greek interest. The Greek deputy also had contacts with representatives of the Greek-American community in New York and Washington, something that he will also be doing in Tampa, Florida, which he was due to visit on Wednesday.

In Tampa, the parliamentary delegation will visit the Southern U.S. Military Command where U.S. military operations in Afghanistan are coordinated.

[13] EU Commissioner Diamantopoulou meets European Women's Union president

BRUSSELS, 31/01/2002 (ANA - V. Demiris)

It was stressed at the meeting that the policy of the equality of the genders should be incorporated in all EU policies and actions and for the particular problems of women to be dealt with on an equal and just basis.

Diamantopoulou said that there were five main policy axis on an EU level for the promotion of the equality of the genders and concern in particular the position of women in the economy, the participation of women in decision-making centers, the development of social policy, the defense of human rights and the combatting of violence against women and the position of women in the mass media.

[14] Mitsotakis meets with Turkish ambassador

Athens, 31/01/2002 (ANA)

[15] Journalists union to propose strike action on February 7

Athens, 31/01/2002 (ANA)

ESHEA's board will make a specific proposal during a meeting of representatives from all journalists' unions on Thursday for strike action to begin on February 7 and escalate until claims are met.

According to an announcement issued by ESHEA on Wednesday the situation in the media sector "has reached the point where it can go no further."

[16] Greeks, Russians, Bulgarians hold talks on Burgas-Alexandroupoli pipeline

Athens, 31/01/2002 (ANA)

Greece was represented by Ministry of Development Secretary General G. Agrafiotis and the other two countries by their deputy energy ministers.

The agenda of the meeting included the signing of a memorandum between the three countries that they accept the venture of the construction of the pipe line that will connect the Black Sea Bulgarian port of Burgas to the Aegean Sea Greek port of Alexandroupoli.

The issues on the table also included the announcement and acceptance of the technical and economic study produced by ELF petroleum on the issue; the establishment of a tripartite company, which will undertake to promote the issue; and the time table for the presentation of the venture to the big inter-national markets.

Hellenic Petroleum, the Latsis Group of companies and the Kopelouzos Group intend to participate in the venture from the Greek side.

[17] Natural gas link under study for Greece and Turkey

Athens, 31/01/2002 (ANA)

Addressing an energy conference arranged by the Economist magazine in Athens, chairman Dimitris Sotirlis of the Public Gas Enterprise said that the project would entail the construction of 85 kilometers of pipeline in Greece and 200 kilometers in Turkey. Sotirlis noted that the pipeline would probably be extended from Greece to Italy as a supply line for western Europe.

He added that other schemes being discussed were future natural gas links with countries including Iran, Turkmenistan, Azerbaijan, Egypt and Libya.

[18] Iran in talks with EU, Greece on natural gas exports

Athens, 31/01/2002 (ANA)

Addressing an energy conference arranged by the Economist magazine, Zanganeh said that Tehran wanted to use Turkey as a gateway for a natural gas pipeline to Greece and other European countries.

"Iran plans to increase the production of natural gas to more than 500 million cubic meters per day in 2005 from 300 million," he said.

"We will boost our natural gas exports to Turkey to 10 billion cubic meters a year from 4.0 billion," he added.

Iran ranks second worldwide after Russia in natural gas deposits, accounting for 17 percent of world reserves.

Greek PM, EU commissioner focus on farming issues, compensation for farmers

BRUSSELS, 31/01/2002 (ANA - M. Spinthou-rakis)

Greek Prime Minister Costas Simitis and European Agriculture and Fisheries Affairs Commissioner Franz Fischler here on Wednesday.

Speaking to journalists after his meeting with Fischler, Simitis noted the good climate of talks with the commissioner and stressed that Greece would soon table a memorandum detailing the economic cost of damage caused by the inclement weather that hit the country at the end of 2001 and in early 2002.

The Greek premier also said that the overall support Greece will receive from the European Union for the agricultural sector will reach nine trillion drachmas, stressing that the support will be in line with the Berlin EU summit decisions.

He noted that Greek farmers would be compensated for the damage by the EU's special fund, which was set up to confront natural disasters in member-states.

Simitis also said that he discussed with EU officials the possibility of Greece covering the damage from national sources, adding, however, that Greece was more interested in receiving EU funds for this matter.

The premier further spoke of the EU's enlargement process, stressing that negotiations with the candidate member-states should be completed on the basis of the existing timetable and that the cohesion policies of the EU should continue.

Simitis also talked of the important role the EU's assembly will play for the EU's institutional reform and stressed that the status of the representatives having been named by member-states proves the special importance this assembly will have.

He expressed his satisfaction over the way the euro was accepted by Europe, saying that the successful introduction of the common currency will lead to the strengthening of the European unification process.

Regarding Turkey, the premier said that it should take several more steps toward its adjustment with the EU, noting, however, that the policy of the EU towards Ankara was useful and produced results.

Closing his impromptu press conference, Simitis said that there was a need for the speeding up of the structural changes of the EU in accordance with the Lisbon summit decisions, while speaking on Greece, he said that the government is fully aware of the need for the social security system's reform and the decrease of the country's public sector debt.

Earlier in the day, Simitis addressed the European Commission's plenum and met with European Commission President Romano Prodi and Greek Commissioner Anna Diamanto-poulou.

Farmers continue to create roadblocks on northern highways: Farmers continued their tactics of suddenly creating roadblocks of a limited duration on Wednesday, the third day since they began protests in support of their demands.

Roadblocks were set up on the Athens-Thessaloniki highway in the Tempi area, north central Greece, on the Thessaloniki-Yiannitsa highway and the Thessaloniki-Edessa motorway at 10:45 a.m. and on the Thessaloniki-Nea Moudania road from 11:00 a.m.

Farmers in Kilkis, meanwhile, began a three-hour highway blockade outside the Evzones customs post at 12:30 p.m. and blocked the Athens-Thessaloniki motorway outside the Malgara toll posts for one hour.

Meanwhile, farmers in tractors are still manning rally points throughout northern Greece and further protests are expected on Thursday throughout northern Greece.

On Friday representatives of farmers' unions are expected to meet with opposition party leaders and Agriculture Minister George Drys on Monday.

Protopapas comments on farmers protests: Proposals to renationalize agricultural policy would trap Greek farmers in a worse position if they were accepted, government spokesman Christos Protopapas said on Wednesday.

"Should developments lead to a denationalization of the Common Agricultural Policy (CAP), which certain European forces are pushing for, the first to lose out will be Greek farmers," he said.

He also asked farmers to rethink proposals to block national highways, saying that these would bring them into conflict with wide sections of Greek society.

He noted that mixed messages appeared to be coming from main opposition New Democracy.

[19] Verelis: Plan for electrically driven rail line stands

Athens, 31/01/2002 (ANA)

Transport Minister Christos Verelis again took the lead in promising that Athens will fulfill its commitments to the International Olympic Committee (IOC) in regards to the mass transit project, one of several �big ticket items� included in Athens� 2004 Olympics file.

He did, however, leave open the possibility that diesel engines could be used on the specific segment of the designed rail line in case the supplier of rolling stock � state-run Hellenic Shipyards at Skaramangas, which is in the midst of efforts to privatize � cannot meet delivery deadlines. Verelis said his ministry has considered such a prospect and, in turn, notified both the IOC and the main opposition New Democracy party.

Along those lines, the managing director of state-run Greek Railways� (OSE) construction wing, Ergose, Christos Tsitouras, said Wednesday that �the suburban rail line will be electrically driven from Rendi (a Piraeus industrial district) to the airport as long as the problem with the rolling stock is resolved�.

Verelis� statements over the past two days came in light of Monday�s high-ranking inter-ministerial meeting focusing directly on 2004 preparations, and following often conflicting statements by other government officials on the specific project as well as a series of press reports on Tuesday citing delays in the rail line project.

Press sources on Tuesday had Verelis expressing his dissatisfaction to Prime Minister Costas Simitis himself.

The suburban rail line connection to the airport and the diesel vs. electricity dilemma even earned the concern of IOC vice-president Denis Oswald.

[20] Sanyo Hellas gets stake in Ukrainian natural gas

Athens, 31/01/2002 (ANA)

Exploration has already been carried out for the undersea deposits in the Crimea, Exploinvest said in a statement.

The joint venture with the American firm will have equity capital this year of 11 million US dollars, the statement said.

The Greek company is to have a 50 percent stake in the venture, funding the purchase through the sale of a holding in CJC Plast, it added.

[21] OA spare parts suppliers all recognized dealers, airline says

Athens, 31/01/2002 (ANA)

The airline was responding to a scandal over revelations that unsuitable, recycled spare parts for aircraft had been released on the market as new by certain Italian and American firms.

The revelations have caused a crisis in air transport throughout the world, with experts estimating that the unsuitable spare parts may have been responsible for up to 10 per cent of recent airline accidents, including the tragic crash of an American Airlines plane in New York last November that killed 265 people.

[22] Investment firms' assets down in December 2001

Athens, 31/01/2002 (ANA)

A report by the Union of Institutional Investment said that only three investment firms were trading with a premium in the stock market (Eurodynamic 3.4%, Piraeus 13.4% and Domus 60.6%), with the remaining trading at a discount ranging from 6.7 to 33.1 percent.

The investment sector index fell 7.85 percent in December, exceeding the general index's losses of 3.80 percent over the same period, while it ended the year with a net loss of 42.9 percent, compared with a 23.5 percent fall in the general index in 2001.

[23] Greek bourse to rise by 8.0 pct in 2002, analyst

Athens, 31/01/2002 (ANA)

Addressing a special event, organized by Citibank to present its new investment products in Greece, Xafa noted a significant delay in structural reforms in the country, particularly in the last few months, that negatively affected the course of the economy and its competitiveness.

Commenting on the social insurance issue, Xafa said its solution was a vital issue in the operation of markets.

She stressed that Greece cannot afford to agree to high pay rises (in an effort to achieve convergence with the average European) without a similar increase in productivity. Xafa said she expected the Greek economy to grow by 3.5 percent this year, up from an 1.0 percent growth rate in the eurozone.

Citigroup's analyst reiterated her forecast that the US economy would exit from its current slowdown this year and noted that the European economy was lagging behind.

Xafa said a cycle of lower interest rates has ended in the US, and forecasted two more interest rates cuts in Europe this year, totalling 50 basis points in the first half of 2002.

[24] Greek stocks end 1.12 percent down

Athens, 31/01/2002 (ANA)

The general index fell 1.12 percent to 2,595.87 points, off the day's lows, with turnover a low Dr 38.2 billion, or 112.2 million euros.

The Publication, Banks and Telecoms sectors suffered the heaviest percentage losses (1.57 percent, 1.33 percent and 1.30 percent, respectively)

The FTSE/ASE 20 index for blue chip and heavy traded stocks ended 1.31 percent lower, the FTSE/ASE MID 40 index eased 0.62 percent and the FTSE/ASE SmallCap 80 index ended 1.02 percent lower.

Broadly, decliners led advancers by 272 to 53 with another 33 issues unchanged.

The most heavily traded shares were Klonatex (common and preferred), Public Power Corporation, Alpha Bank, National Bank of Greece, Naoussa Textiles and Panafon.

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

The Greek benchmark 10-year bond showed a yield of 5.32 percent, and the spread over German bunds was 35 basis points.

Turnover through the central bank's electronic system totalled 2.8 billion euros.

Buy orders accounted for the lion's share of turnover.

Derivatives Market Close: Futures drop, tracking main market: Equity index futures on the Athens Derivatives Exchange widened their discount on Wednesday, tracking the main market, traders said.

Changing hands were 6,188 contracts on turnover of 37.1 million euros.

The underlying FTSE/ASE-20 index for heavily traded stocks and blue chips shed 1.31 percent; and the underlying FTSE/ASE-40 for medium capitalization stocks lost 0.62 percent.

[25] Athens 2004 Organizing Committee examines 2002 budget

Athens, 31/01/2002 (ANA)

According to Committee sources, the budget for the current year was ratified, which anticipates revenues totalling 323 million euros and expenditures amounting to 408 million euros.

The Organizing Committee's expenditures will be increased this year due to expenses for staff hirings and the volunteerism program, while it is the first year in which money will be spent for infrastructure programs.

According to information it provided, the biggest part of expenditures for 2002 concern technologies, meaning informatics and telecommunications (30 percent), Olympic projects (8.5 percent) and volunteerism (7), while operational expenses will total 70 million euros.

[26] Public Power Corp. to build five new power units for 2004 Olympics

Athens, 31/01/2002 (ANA)

Addressing an energy conference arranged in Athens by the Economist business magazine, Tsohatzopoulos also said that the state-owned PPC's five-year investment plan included the expansion of existing electricity plants in Komotini, Florina and Lavrio.

The company's managing director, Stergios Nezis told the conference that the PPC's earnings before tax in 2001 were estimated at 120 billion drachmas on turnover of 1.075 trillion drachmas; and the objective was to improve results this year.

Management aimed to lower operating costs by 10 percent this year, and continue its restructuring program, focusing in 2002 on human resources, Nezis said.

He forecast that staff levels would have dropped by 20 percent in 2005, allowing for the retirement of about 1,200 staff each year accompanied by the annual recruitment of 100 staff.

The total number of employees in 2005 would be about 25,000, he added.

[27] Monumental project for Olympiad ready in spring of 2004

Athens, 31/01/2002 (ANA)

The culture minister termed the project a "monument in Athens in light of the 2004 (Olympic) Games."

Installations to be created will provide the possibility of continuous operation with cultural events, concerts, exhibitions and sports events.

Influenced by the colors of the Greek flag (blue and white) and the blue sky, the famous architect will have blue and white as the colors of the installations.

The study for the project has been divided into two categories: aesthetic upgrading budgeted at 46 billion drachmas and operational upgrading budgeted at 26 billion drachmas.

[28] Classical music concert to benefit renovation of Greek Church in Venice

Athens, 31/01/2002 (ANA)

The funds collected will be given for the renovation of the Greek Orthodox Church of St. George, located at the Plaza of the Greeks in Venice.

The Greek Institute of Byzantine and Post-Byzantine Studies of Venice was established in 1999 during the exhibition "Venice of the Greeks, Greece of the Venetians", which took place at the Athens Concert Hall.

[29] Greece condemned for lacking sea turtle protection system

BRUSSELS, 31/01/2002 (ANA - V. Demiris)

According to the ruling, Greece failed to enact, as it was obliged to by a relevant European Union directive in 1992, an effective legal framework to secure strict protection of the Caretta-Caretta's reproduction. Moreover, Greece has not yet taken specific measures to avoid the destruction of the turtles' breeding grounds.

The directive imposes on member-states to take all necessary measures to enact a system of strict protection for certain animal species such as the Caretta-Caretta sea turtle.

[30] Clerides and Denktash hold sixth meeting on Cyprus' future

NICOSIA, 31/01/2002 (CNA/ANA)

Apart from the usual three meetings (Monday, Wednesday, Friday), Clerides and Denktash agreed on Monday to have a fourth meeting this week, on Thursday, at the same place, in order to speed up the peace process.

[31] Cyprus says no to rotating presidency

NICOSIA, 31/01/2002 (CNA/ANA)

Commenting on statements by his Greek counterpart that UN documents refer to rotating presidency, Kasoulides said the position of the government is crystal clear on this issue and pointed out that nine percent of the people of Cyprus cannot possibly elect the head of state.

Invited to comment on remarks by Turkish Cypriot leader Rauf Denktash that he would not accept EU funds through the Cyprus government, Kasoulides said after a settlement EU aid "will be provided through the government of the new state and Turkish Cypriots will also be participating in this government."

[32] Eurostat: Cyprus third among EU candidates in per capita

GDP NICOSIA, 31/01/2002 (CNA/ ANA)

Statistics, released Tuesday by Eurostat, said that four regions recorded per capita GDP in 1999 of at least 75 percent of the EU average in the same year, with Prague, in the Czech Republic with 124%, Bratislava in Slovakia with 95% and Cyprus with 85%. Cyprus, Estonia, Latvia, Lithuania and Slovenia each comprise a single region.

Cyprus opened accession negotiations with the EU in 1998 and is considered to be a front-runner among candidate countries, as it has provisionally closed 24 out of 29 chapters of the acquis communautaire.

GDP and per capita GDP are indicators of a country's or a region's output and are thus a way of measuring and comparing the degree of economic development of countries or regions.

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