Athens News Agency: Daily News Bulletin in English, 05-11-09

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

CONTENTS

[01] Greece's fiscal adjustment progress satisfactory, Almunia says

[02] PM says phenomena of corruption will not continue to trap country

[03] Interior ministry replies to PASOK on matter of transparency

[04] PM to meet Armenian President on Wednesday

[05] Greece seeking bilateral agreements for transparency in arms purchases

[06] Defense minister to inaugurate three Army nursery stations, visit training centers

[07] Deputy FM on European Commission's 'Plan D'

[08] Roussopoulos on Turkey's European prospects, Greek-Turkish relations

[09] Immigrants a major issue, PASOK leader says

[10] Greek Airforce celebrates patron saint, 75th anniversary

[11] Former military chief issues sharp response to ex-PM Simitis' recounting of Imia crisis

[12] Second 'Peace and Tolerance' inter-faith conference opens in Istanbul

[13] U.S. State Department report strongly criticizes Turkey for worsening situation in the country regarding religious freedom

[14] Justice Minister meets with Turkish delegation

[15] Two first instance judges referred to Supreme Court Disciplinary Council

[16] Turkish warplanes violate Greek national air space

[17] Burns says 2006 will be a 'crucial year' for Kosovo

[18] Stylianidis details govt's goals for boosting int'l economic ties

[19] Salagoudis on development of regional cooperation in energy

[20] Government sends electricity deregulation bill to parl't

[21] Tourism to Greece seen up 30%-35% in 2006

[22] S&P affirms Greece ratings, urges additional measures

[23] UNICE cuts forecast for EU economy

[24] Thessaloniki Chamber signs cooperation accord with China's Anshan Chamber

[25] EU member-states complete operation 'Fake'

[26] Greek inner cabinet discuss maritime policy

[27] Greek ministers to participate in conference in New York on investments in Greece

[28] Gov't does not plan changing shopping hours system

[29] NBG sells Canadian subsidiary, buys leasing firm in Romania

[30] Canadian embassy announces companies in Greece chosen for Canadian Business Awards

[31] Greek banks eye buyouts in Turkey

[32] Greek banks sound out syndicated loans with Arab banks

[33] Greek exports up 12.7 pct in September, yr/yr

[34] Air traffic controllers to go on 24-hour strike on Thursday

[35] Greek budget revenues up 12.8 pct in October

[36] Foreign investors raised their positions in ASE in October

[37] Greek stocks resume uptrend on Tuesday

[38] Greek actor Alexandrakis dies

[39] Olympic stadium roof safe, Alternate Culture Minister says

[40] PM to inaugurate art exhibition next week

[41] Vassos Lyssarides given honorary doctorate by Athens University's Medical Faculty

[42] Greece not included in visa waiver program, U.S. says

[43] Greek ultra-marathon champ Kouros to compete at Kolac 6day race

[44] France says Cyprus problem in UN hands

[45] Cyprus to protest Turkey's refusal to allow German plane land

[46] Cyprus anticipates EU-Turkey partnership document

[47] US Senator disapproves of State Department-T/C leader meeting

[01] Greece's fiscal adjustment progress satisfactory, Almunia says

BRUSSELS, 9/11/2005 (ANA)

Speaking to reporters, after an ECOFIN council meeting in Brussels, Almunia said the Commission was awaiting more information over the 2006 budget from the Greek government. The EU Commissioner said he met with Greek Economy and Finance Minister George Alogoskoufis and underlined that an effort to cut fiscal deficits in 2006 must be made through structural measures, accounting for 0.6 percent of the country's Gross Domestic Product.

Almunia said the EU executive's statistics agency, Eurostat, has not yet reached a decision over the compatibility of a Greek government debt securitization plan with European accounting standards and noted that a decision was expected by the end of the year. The Commissioner, however, reiterated his view in favor of structural measures to reduce deficits.

Finmin says government's economic policy

mix is working: The Greek government's economic policy mix is working as it has advanced structural changes that reinforce the outlook for growth, employment, and efficiency in the public sector, Finance Minister George Alogoskoufis said on Tuesday.

"It is needed to tackle medium-term problems of competitive-ness and fiscal equilibrium that are a scourge of the Greek economy," Alogoskoufis told reporters after a meeting of European Union finance ministers in the Belgian capital.

The minister also met the EU's commissioner for monetary affairs, Joaquin Almunia, who said Greek fiscal adjustment through the 2005 budget was proceeding satisfactorily, but more data was required on the 2006 budget.

The government is due to provide further information by November 21 when the budget is sent to parliament. National and EU services are in close contact, Alogoskoufis reported.

Greece has submitted a report to the Commission on its fiscal progress as part of an excessive debt process.

The report foresees a reduction in the general government deficit to 3.6% of gross domestic product (GDP) in 2005 and 2.6% in 2006 from 6.6% in 2004.

The adjustment for 2005-2006 versus 2004 is equivalent to four percentage points of GDP, with 3.5 points of the total attributable to structural changes of a permanent nature, the minister said.

"On the basis of recent EU data, it is rare to achieve such a major fiscal adjustment, especially if we take into account the maintenance of high growth rates and the reduction in unemployment," he added.

EU debt securitization decision by end-year: Alogoskoufis also reported that Eurostat, the EU's statistics agency, was expected to decide by the end of the year whether Greece's debt securitization proposal was compatible with the bloc's regulations.

At the same time, the government had devised alternative plans should Eurostat reject the proposal, although the bloc's statistics agency should clearly specify the accounting principles it accepted for national accounts in order to avoid frequent fluctuation, the minister said.

He also forecast that in 2006 the fiscal deficit would drop by about 1.0% of GDP, well above a 0.6% decline sought by the Commission.

Finally, Alogoskoufis expressed concern at Greece's inflation rate, which for the fifth straight year has been much higher than in other eurozone members, and that no rises in indirect taxation would be ordered.

[02] PM says phenomena of corruption will not continue to trap country

ATHENS, 9/11/2005 (ANA)

Karamanlis added, addressing the members of the country's business world, that "these phenomena are now being handled decisively and uncompromisingly and they are already beginning to retreat."

The prime minister also presented the government's strategy on the country's adjustment to the needs of the new economy and modern society.

Speaking on the issue of "The hour of the Greek economy", Karamanlis presented the conjuncture's wider framework.

"We are in the era in which we are crossing the new cycle of world history with big steps and which is characterized by big changes," the prime minister said and pointed out that in this framework our country is functioning through the European Union which "despite the difficulties it is going through and which are known to all, is continuing to be a force of reforms."

Karamanlis further said that despite the adversities of the international conjuncture and the weaknesses "bequeathed to the state and the economy by the past" and despite reactions by "conservatism, the privileged and the expressors of stagnation", the government is following an "integrated course plan."

Lastly, he stressed the need for strengthening the economy's extroversion through attracting foreign investments, increasing exports, strengthening shipping, expanding the tourist industry and backing the international business activities of the Greeks and added that the new era constitutes a challenge and opportunity for lofty targets.

[03] Interior ministry replies to PASOK on matter of transparency

ATHENS, 9/11/2005 (ANA)

"With its usual tactic, PASOK discovers in opposition those things which it did not want to do as government," the announcement said in reference to the main opposition party's "Framework of proposals for transparency in public life", which was made public on Monday.

The interior ministry said that "the main opposition is proposing things which either have already been done or are either routed by the government."

Regarding transparency in legislation, the announcement said that "given that the relevant law has already been made public and that the corresponding circular of the prime minister on legislative matters will be issued in the immediate coming days, this circular covers all of PASOK's 'proposals'."

[04] PM to meet Armenian President on Wednesday

ATHENS, 9/11/2005 (ANA)

[05] Greece seeking bilateral agreements for transparency in arms purchases

ATHENS, 9/11/2005 (ANA)

In letters to his British, French and German counterparts, Greek Defense Minister Spilios Spiliotopoulos has proposed bilateral agreements for the mutual provision of cost-free inspection services between the countries' defense ministries.

An announcement said the initiative was a follow-up of a request to the U.S. Pentagon for a bilateral agreement that extended the existing Defense Industrial Cooperation Agreement between Greece and the U.S.

"The existence of these bilateral agreements that are being set in motion for the first time will intercept future efforts by representatives of arms systems firms and other middlemen to sell arms systems at 'inflated' prices," a defense ministry announcement said.

[06] Defense minister to inaugurate three Army nursery stations, visit training centers

ATHENS, 9/11/2005 (ANA)

Also planned is the construction and operation in 2006 of four more nursery stations in Orestiada, Feres, Komotini and Xanthi.

On the occasion of his trip to the region, Spiliotopoulos will also visit three new training centers for army recruits which started operating in the prefecture on Monday. A total of 350 new army recruits which originate from the broader region of Thrace will be trained in these new centers.

[07] Deputy FM on European Commission's 'Plan D'

ATHENS, 9/11/2005 (ANA)

Valinakis said that during the luncheon, the ministers had the chance to discuss the initiatives each member-state is taking towards implementing the plan.

He reiterated Prime Minister Costas Karamanlis' assertion that Greece supports Plan D "so that, we - leaders and citizens together - can shape a new vision for Europe. We are thus studying the implementation of Plan D actions throughout the country."

[08] Roussopoulos on Turkey's European prospects, Greek-Turkish relations

ATHENS, 9/11/2005 (ANA)

Regarding Turkey's progress report which will be approved by the European Commission on Wednesday and the reference to the need of "a comprehensive solution to the differences in the Aegean," despite the fact that the Greek government just recently stated that Greece's difference in the Aegean is "one" and concerns the continental shelf, the government spokesman reiterated that "the difference is one" and observed that the text to which the question referred also spoke of one difference.

[09] Immigrants a major issue, PASOK leader says

ATHENS, 9/11/2005 (ANA)

Addressing his party's Parliamentary group, Papandreou said Greece had to consider the social integration of second- and third-generation immigrants in order to ensure public safety.

He said there will probably be an initiative by PASOK, which was most likely to be a proposal for a cross-party committee on the immigration issue.

The party's coordinator for economic issues George Floridis, meanwhile, stressed that the issue had to be addressed politically and ideologically in order to prevent reactionary views from dominating the debate, when this began.

The draft budget for 2006 also dominated a major part of the meeting, with stinging criticism from main opposition officials who described it as "up in the air" and demanded to see all the figures sent to the EU and the commitments made by the government in Europe.

Floridis was scathing about the government's handling of the economy, meanwhile, saying that its decisions were consistently "catastrophic", with problems in the absorption of 3rd CSF funds and a slowdown of the Public Investments program, among others.

[10] Greek Airforce celebrates patron saint, 75th anniversary

ATHENS, 9/11/2005 (ANA)

The ceremony - which included low overhead flights in formation by airforce planes - was held at the Dekeleia Airforce Base in Tatoi, in the presence of President of the Republic Karolos Papoulias.

Papoulias was accompanied by Deputy Defense Minister Vassilis Mihaloliakos, while the event was attended by Parliament vice-president Yiannis Tragakis, representatives of the political parties, the leadership of the Armed Forces and Security Forces and other officials.

[11] Former military chief issues sharp response to ex-PM Simitis' recounting of Imia crisis

ATHENS, 9/11/2005 (ANA)

Excerpts of Simitis' book, which focuses on his eight-year term as prime minister, have been published in a handful of Athens dailies over the past few days. An official launching is set for Wednesday, with the ex-prime minister himself presenting the edition.

In response to Simitis' caustic criticism of his handling of the Imia affair, Lymberis issued a written statement against the two-time prime minister:

"I understand Mr. Simitis' anxiety and need to defend himself for the things that occurred and his numerous unfortunate moments, however, it smacks of political irresponsibility, especially during a period when the country is being sorely tested, for him (Simitis) to be attacking - unjustly - the armed forces for whatever responsibilities he himself had," Lymberis' statement reads.

In focusing on one particular reference by Simitis, namely, the night-time landing of a unit of Turkish troops on one of two tiny rock islets (Imia isles) off the larger eastern Aegean island of Kalymnos during the height of the crisis, Lymberis replied that the "undetected incursion of a small band of commandos on an uninhabited islet does not determine the readiness and fighting capability of the armed forces, and does not justify the censure of a former premier against them (armed forces)."

Moreover, in indirectly referring to a string of recent reports in the Turkish media featuring Simitis' remarks on the Imia crisis, Lymberis countered that "such an act undermines national unity, which is so necessary, and merely satisfies the adversary."

He added that a solution of status quo ante to defuse the late January crisis -- the worst since the Turkish invasion of Cyprus in the summer of 1974 -- was proposed by Washington and Britain and accepted by Simitis "regardless of the costs".

"He (Simitis) had at his disposal forces that he didn't use," the former armed forces general staff chief said, while adding that his refusal to voluntarily resign a week later was due to the fact that the former prime minister insisted on equating the resignation with an assumption of responsibility on the part of the military for the crisis' conclusion.

Meanwhile, according to an ANA dispatch from Istanbul, the former fleet commander of Turkey's navy during the Imia crisis, Adm. Salim Dervisoglu, was quoted by local papers as saying the incident was even more serious than Cyprus because "these islets were something different, both sides said 'they are ours'."

Dervisoglu, who later assumed the post of navy chief of staff, was also quoted by the daily "Ak_
am Gazetesi" as saying that "only a spark could have led to war".

Finally, he said reportedly told the paper he is happy that a conflict was avoided at the time, "because it would have meant a catastrophe for both sides".

[12] Second 'Peace and Tolerance' inter-faith conference opens in Istanbul

ISTANBUL, 9/11/2005 (ANA - A. Kourkoulas)

Among those present were Rabbi Arthur Schneier from New York, Turkey's Chief Rabbi Isac Haleva, Moslem religious leaders from the Caucausus, Azerbaijan and the Balkans and Orthodox Church leaders like Archbishop Anastasios of Albania and Alexandria Patriarch Theodoros. A message from Pope Benedict XVI was read out by Cardinal Walter Kasper, while U.S. charge d'affaires Nancy McEldowney read a message from U.S. President George Bush.

The conference was also attended by Greek Education and Religious Affairs Minister Marietta Yiannakou, who stressed its importance in an age when dire predictions of a "clash of civilizations" were in danger of being confirmed.

"The work that the Patriarchate is doing in collaboration with moderate Moslems, the Vatican and all other religious creeds, even with the Dalai Lama, takes on immense political importance," she said.

The first 'Peace and Tolerance' conference was held in 1994 and was again an initiative organized by the Ecumenical Patriarchate in Istanbul. It had ended with the Bosporus Declaration that had underlined the obligation of political and religious leaders to "use all means to cultivate and promote dialogue between peoples and nationals of all religions in order to build up mutual trust, love and respect".

[13] U.S. State Department report strongly criticizes Turkey for worsening situation in the country regarding religious freedom

WASHINGTON, 9/11/2005 (ANA/T. Ellis)

The report was presented on Tuesday by U.S. Secretary of State Condoleezza Rice and Ambassador John Hanford who is head of the Office for the protection of religious freedoms.

The report refers to the "systematic campaign against Christians," while it noted that Erdogan's government continued also last year to reject the appeals for the re-opening of the Halki Theological School. Given the stance of the Turkish state towards Ecumenical Patriarch Vartholomeos and the disputing of the ecumenical character of the Patriarchate, the report's reference to the activity of the Ecumenical Patriarchate acquires particular importance.

[14] Justice Minister meets with Turkish delegation

ATHENS, 9/11/2005 (ANA)

Specifically, Papaligouras met with Mehmet Elkatmis, Chairman of the Turkish Parliament's Human Rights Committee; Zehra Odyakmaz, President of the Legislative Reform Committee; and Kenan Ozdemir, Deputy General Manager of the Turkish Justice Ministry's Legislative Division.

The three Turkish officials are involved in the drafting of Ombudsman legislation in their country. Turkey chose Greece as its main partner in this project.

After the meeting, Papaligouras said that "Turkey's road to Europe passes first and foremost through the modernization of its legislative framework - especially in regards to citizens' rights. My conviction is that by helping Turkey harmonies its laws with European legislation we are essentially helping in the normalization and development of Greek-Turkish relations."

On Wednesday, Papaligouras and the ministry's Secretary General, Panagiotis Panouris, will be meeting with UN Special Rapporteur on the sale of children, child prostitution and child pornography Juan Miguel Petit.

Turkish delegation meets Greek Ombudsman: A three-member Turkish delegation involved in the drafting of their country's Ombudsman legislation met with Greek Ombudsman George Kaminis on Tuesday.

Mehmet Elkatmis, Chairman of the Turkish Parliament's Human Rights Committee; Zehra Odyakmaz, President of the Legislative Reform Committee; and Kenan Ozdemir, Deputy General Manager of the Turkish Justice Ministry's Legislative Division are in Greece within the context of the two countries' cooperation, since Turkey selected Greece as its main partner in this project.

The officials said cooperation with Greece will continue in the future as well.

The delegation noted that in the effort to establish an Ombudsman in Turkey and following a related seminar organized by Greek authorities in Turkey in December 2004, legislative improvements have been achieved.

Finally, the Turkish officials said that their country has also adopted a series of European Union directives.

[15] Two first instance judges referred to Supreme Court Disciplinary Council

ATHENS, 9/11/2005 (ANA)

The couple of judges, when they served in Piraeus, had reportedly provided favorable treatment for Archimandrite Iakovos Yiosakis, who had been remanded in custody, particularly after his dispute with Theology professor Xenofon Papaharalambous. Lambropoulou also reportedly used to replace colleagues of hers to try cases concerning Yiosakis.

The Supreme Court president will set the date on which the discussion will take place at the Disciplinary Council.

Last summer, the Supreme Court plenum had not accepted a proposal for Potamianos and Lambropoulou to be dismissed from the judiciary.

[16] Turkish warplanes violate Greek national air space

9/11/2005 (ANA)

One formation flew over islets south of the island of Lesvos at an altitude of 20,000-24,000 feet.

In all cases the 26 Turkish aircraft were recognized and intercepted by Greek air force jets, while in two cases the interception process turned into a mock dogfight. Four of the Turkish formations were armed.

[17] Burns says 2006 will be a 'crucial year' for Kosovo

WASHINGTON, 9/11/2005 (ANA/T. Ellis)

Burns noted that the strategic aim of the of the U.S. is the peaceful union of all of Europe and assessed that the Balkans constitute the last part of the puzzle which remains pending, given that the national tensions have not allowed the full return of the region to normalcy. In this framework he included the need for a final solution in Kosovo, but also the modernization and more effective operation of democracy in Bosnia-Herzegovina.

The American diplomat stated that the international community is obliged to convince the Albanians of Kosovo to commit themselves for the protection of the historic and religious monuments in the Serbian regions, something which will be implemented with the demilitarization of the region and possibly the presence of an international peacekeeping force. At the same time, Burns said, Belgrade and the Serbian minority in Kosovo must be convinced that the region can no longer remain part of Serbia.

[18] Stylianidis details govt's goals for boosting int'l economic ties

ATHENS, 9/11/2005 (ANA)

"The prime minister's meeting in Japan over the next few days, at the head of a delegation of institutional representatives of the Greek economy, is part of our new philosophy for reaching out to new and significant markets," he said.

Stylianidis, whose portfolio includes international economic relations, said one of the government's major goals is to make the east Mediterranean country more attractive as a base for subsidiaries of multinationals already active or planning investments in the wider Balkan region.

Along those lines, the Greek deputy FM said Athens is also particularly interested in boosting bilateral trade and investment relations with China, India, and of course, the United States.

[19] Salagoudis on development of regional cooperation in energy

ATHENS, 9/11/2005 (ANA)

On the Burgas-Alexandroupoli oil pipeline, the deputy development minister said:"There is a long road ahead of us. However, the wheel has been set in motion and will reach its destination."

Salagoudis added:""The two major projects of the Burgas-Alexandroupoli oil pipeline and of the Caspia-Turkey-Greece-Italy natural gas pipeline are substantially on course, making our country an energy junction. An aim which until recently seemed unfeasible, today is closer than ever before."

At the same time, he said, the electricity connection of the two energy systems of Greece and Turkey with the new 400 kV line is being advanced.

[20] Government sends electricity deregulation bill to parl't

ATHENS, 9/11/2005 (ANA)

"A modern framework has now been created, attractive for large-scale investments in electricity output," Sioufas said.

"The benefits for employment and for consumers are obvious. The bill boosts competition, and, gradually, by July 2007, all consumers will be able to choose their supplier," the minister added.

[21] Tourism to Greece seen up 30%-35% in 2006

ATHENS, 9/11/2005 (ANA)

Also in 2006, revenue from tourism was seeing totalling 25% of gross domestic product, Liaskos told a business conference in Athens arranged by the Hellenic-American Chamber of Commerce.

[22] S&P affirms Greece ratings, urges additional measures

9/11/2005 (ANA)

A report by S&P said the Greek economy continued expanding at a fast pace, fuelled by strong private consumption growth as a result of rising real wages and buoyant credit growth.

The credit rating agency, however, stressed that strong nominal GDP growth in the past has been accompanied by lackluster efforts to implement public sector reform and by general government deficits averaging about 6.0 percent of GDP over the past four years. As a result, the task of reining in fiscal deficits remains sizeable, and the government's medium-term targets were challenging.

S&P said there were significant slippages in the budgeted targets in the first half of 2005 and expect the fiscal deficit to remain above 3.0 percent of GDP by 2008 if no additional measures of permanent nature were taken. The agency warned that an increase in the general government debt ratio would bring the ratings on the Hellenic Republic under renewed pressure.

[23] UNICE cuts forecast for EU economy

9/11/2005 (ANA)

In its autumn outlook report, UNICE, downgraded its forecasts for economic growth in the Eurozone to 1.3 percent from 1.8 percent initially forecast. The employers' union also cut its predictions over 2006 economic growth to 1.8 percent from 2.1 percent, while average growth rates in the EU-25 were expected at 1.6 percent this year and 2.1 percent in 2006.

UNICE said economic growth rates in Greece was higher compared with the European average, at 3.4 percent this year, 3.5 pct in 2006 and 3.8 pct in 2007.

The report said Greek inflation was expected to end 2005 at 2.3 percent, rising to 2.9 percent in 2006 and easing slightly to 2.8 percent in 2007. Forecasts for the inflation rate in Eurozone were 2.2 pct and 1.8 pct in 2005 and 2006, respectively, and 2.1 percent in 2005 and 2006 in the EU-25.

UNICE said it expected a slight fall in unemployment in Greece to 9.8 pct in 2006 and 8.9 pct in 2007, from 10.5 pct this year.

[24] Thessaloniki Chamber signs cooperation accord with China's Anshan Chamber

9/11/2005 (ANA)

EBETH has already signed memoranda of cooperation with the corresponding Chambers of Beijing and Shanghai, during a recent visit by a business delegation to China.

EBETH second vice-president Emmanuil Vlachoyiannis noted that the Thessaloniki and Anshan Chambers will seek, inter alia, to advance international trade among their members, and in that direction studies will be carried out, information will be exchanged, and trade exhibitions as well as missions to Greece and China will also be organized.

Anshan Chamber vice-president Xia Sun Yang, who visited the EBETH at the head of a five-member delegation, outlined the prospects for cooperation between Greek and Chinese business enterprises.

[25] EU member-states complete operation 'Fake'

9/11/2005 (ANA)

According to an announcement by the European Commission's office in Athens, about 30,000 fake batteries were found at the port of Thessaloniki, Macedonia, 60,000 lamps at the port of Gioia Tauro in Italy, hundreds of thousands of packets of cigarettes of a fake brand at the port of Antwerp and many tons of fake clothes.

These are only a few examples of major confiscations of fake products which took place in the framework of the customs operation.

It is the first joint action by the EU's 25 member-states which was coordinated by the new permanent technical structure of the European Fraud Combatting Service (OLAF).

The share of fake products, which is registering a stable increase, currently represents 5-9 percent of world trade, depriving producers of an amount estimated between 200 and 300 billion euros worldwide.

[26] Greek inner cabinet discuss maritime policy

ATHENS, 9/11/2005 (ANA)

Speaking to reporters, after the meeting, Merchant Marine Minister Manolis Kefaloyiannis, said his ministry would table a new draft bill on maritime education, aimed at upgrading the education level of merchant marine, one of the main pylons of Greek economy.

"The shipping industry offers the maximum to national wealth," the Greek minister said.

[27] Greek ministers to participate in conference in New York on investments in Greece

NEW YORK, 9/11/2005 (ANA/P. Panagiotou)

It concerns the 7th annual "Capital Link Forum" which will be held in Manhattan.

According to the organizers, the Greek delegation will comprise Economy and Finance Minister George Alogoskoufis, Labor and Social Protection Minister Panos Panayiotopoulos, Tourism Development Minister Dimitris Avramopoulos, while also expected to attend is Deputy Foreign Minister Panagiotis Skandalakis who is currently in Florida for talks with Greek-American officials.

[28] Gov't does not plan changing shopping hours system

ATHENS, 9/11/2005 (ANA)

Speaking in parliament, the Greek minister stressed that "if the government or myself wanted to open the issue, I would say it straight. A new shopping hours legislation will remain valid in the future". Sioufas said any politician has the right to self-criticism and stressed: "I say it now. We should be more bold on the issue".

He was replying to comments by PASOK main opposition deputies, Chr. Protopapas, R. Zisi and V. Kegeroglou, who said that a new shopping hours system benefited only the big players in the market and not small- and medium-sized enterprises, workers and consumers.

The Greek minister urged opposition parties not to come into hasty conclusions since the new legislation was introduced only two months ago.

[29] NBG sells Canadian subsidiary, buys leasing firm in Romania

ATHENS, 9/11/2005 (ANA)

"The transaction, like the sale of Atlantic Bank of New York, is consistent with the National Bank of Greece Group's international strategy, which consists of withdrawing from mature markets where growth prospects are limited, at the same time retaining and expanding its presence in markets with high growth potential where it commands a competitive advantage," National's management said in a statement.

"The decision by the management of NBG ensures in the best possible way the interests of both clients and employees of the subsidiary company, by incorporating its network within a leading credit institution in Canada. The bank's clients will have access to the full range of modern and high-quality banking products & services of NBG," the statement said.

Keefe, Bruyette & Woods, Inc. was NBG's financial advisor in the sale.

Scotiabank, one of the largest financial institutions in North America, has assets of $309 billion, and its share is traded on the Toronto & New York Stock Exchanges.

Also on Tuesday, National Bank of Greece said that it had signed a contract for the acquisition of 70% of stock in Eurial Leasing of Romania, a medium sized firm that operates chiefly in the automobile market and has the highest rate Peugeot leasing rate in Romania.

[30] Canadian embassy announces companies in Greece chosen for Canadian Business Awards

ATHENS, 9/11/2005 (ANA)

The companies receiving awards in 2005 are Neoset, Okeanida Publications and SCF International Consulting. Canadian Ambassador to Athens Phillip Sommerville will give the awards during an event scheduled to take place on Thursday, November 10, and which will be organized in cooperation with the Greek-Canadian Chamber of Commerce.

The Canadian embassy established the Canadian Business Awards in 1991, wishing to recognize companies in Greece and their associates in Canada which have contributed substantively and over a long period of time to an increase in sales of Canadian products or the introduction of new Canadian products in the Greek market.

Companies active in Canada with considerable investments or exports also have the right to be candidates. The awards are given to three companies every two years for their excellent contribution to the strengthening of trade relations between Greece and Canada.

[31] Greek banks eye buyouts in Turkey

ATHENS, 9/11/2005 (ANA)

Turkey's Anadolu news agency quoted Takis Arapoglou, president of the Union of Greek Banks, as saying that Greek banks were closely watching the sector in the neighboring country.

Arapoglou, also governor of Athens-quoted National Bank of Greece, was speaking on Monday after a meeting of the union and its Turkish counterpart in Istanbul.

He also noted that foreign investors accounted for 66% of trade on the Turkish bourse against 35% for the Athens market, and the majority were institutionals.

[32] Greek banks sound out syndicated loans with Arab banks

ATHENS, 9/11/2005 (ANA)

Also being studied are the possibility of opening branches in Arab countries, buying stakes in banks in the region that are being privatized, and forging alliances including asset management and consultancy services, Miliakos told a conference in Athens arranged by the Hellenic-American Chamber of Commerce.

[33] Greek exports up 12.7 pct in September, yr/yr

ATHENS, 9/11/2005 (ANA)

NSS, in its provisional report on the country's trade balance, said the value of export-deliveries totalled 1.159 billion euros in September from 1.029 billion euros last year, for an increase of 12.7 percent.

[34] Air traffic controllers to go on 24-hour strike on Thursday

ATHENS, 9/11/2005 (ANA)

No flight will be carried out by any airline company to or from Greek airports, including local flights scheduled for Aegean islands.

Aircraft crossing through Greek air space but not having a Greek airport as their destination will not be affected by the strike. In other words, if an aircraft takes off from an Italian airport with Egypt as its destination and crosses through Greek air space it will be served.

Aircraft belonging to heads of state, military aircraft or those carrying patients, as well as firefighting aircraft will also be excluded.

The two Greek airline companies, Olympic Airlines and Aegean Airlines, announced that all their aircraft will remain grounded on Thursday and no domestic or overseas flight will be carried out.

[35] Greek budget revenues up 12.8 pct in October

ATHENS, 9/11/2005 (ANA)

Tax revenues rose 13.1 percent, customs revenues were up 9.8 percent and revenues from other sources jumped 22.0 percent in October, the ministry said.

VAT revenues rose 9.3 percent in October, compared with the same month in 2004.

[36] Foreign investors raised their positions in ASE in October

ATHENS, 9/11/2005 (ANA)

Foreign investors' participation in the Greek capital market rose to 38.94 percent in October from 38.89 pct in September, with the participation of Greek investors easing slightly to 60.81 pct from 60.82 pct over the same period, respectively.

Foreign investors owned a 48.09 pct share in the FTSE/ASE 20 index for blue chip and heavy traded stocks, with Greek investors' share easing to 53.69 pct in October.

Foreign investors owned a 20.66 pct share in the FTSE/ASE MID 40 index (up from 19.97 pct), with Greek investors' share falling to 79.30 pct.

Foreign investors owned a 21.83 percent share in the FTSE/ASE SmallCap 80 index (down from 24.36 pct in September).

[37] Greek stocks resume uptrend on Tuesday

ATHENS, 9/11/2005 (ANA)

The composite index rose 0.15 percent to end at 3,415.98 points, with turnover a moderate 170.4 million euros.

Sector indices ended lower with the Holdings (1.54 pct), Publications (1.35 pct), Wholesale (0.95 pct) and Metals (0.66 pct) suffering the heaviest percentage losses of the day. The Textiles (2.54 pct), Mineral-Cement (1.54 pct), Investments (0.69 pct) and Banks (0.63 pct) scored gains.

The FTSE/ASE 20 index for blue chip and heavy traded stocks rose 0.32 percent, the FTSE/ASE MID 40 index fell 0.21 pct and the FTSE/ASE SmallCap 80 index eased 0.05 percent.

Broadly, decliners led advancers by 180 to 92 with another 61 issues unchanged.

Stock Futures: