Athens News Agency: Daily News Bulletin in English, 06-12-23

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

CONTENTS

[01] Greece submits updated Stability and Growth Programme to EU

[02] PASOK criticises updated Stability Programme as 'irresponsible'

[03] Karamanlis-Basiakos meeting

[04] Karamanlis' scheduled meetings for Saturday

[05] PASOK leader Papandreou visits Oinofita

[06] President's message to Greeks living abroad

[07] Archbishop of Athens warns against 'secularising' of Christmas

[08] Christmas message by Archbishop Anastasios of Tirana

[09] Christmas message by Patriarch of Alexandria

[10] National Bank: Romanian tender stalled

[11] State firm defends recruitment of consultant

[12] Gov't defends support for 5-star hotels

[13] Deputy development minister visits central meat market in Rendi

[14] Winter sales to begin on January 22 in Greece

[15] Attica municipalities protest over water board debt collection measures

[16] Cosmote holds 90.61% of Germanos

[17] Alpha Bank sells stake in ICAP

[18] easyCruise to open Greek operation

[19] Athens Bourse Close: Stocks drop

[20] Post-quake activity in Sporades region 'normal'

[21] Twenty-six kilos hashish found abandoned by roadside

[22] Weather Forecast Temperature slightly up on Saturday

[23] Greek press review

[24] FM: Whoever promotes illegal airport contributes to division of Cyprus

[25] Cyprus to apply to join EMU early 2007, says Finance Minister

[01] Greece submits updated Stability and Growth Programme to EU

According to figures released by the ministry on Friday, the rate of GDP growth is seen rising to 3.9% in 2007, 4% in 2008 and 4.1% in 2009, while primary spending as a percentage of GDP is seen falling from 20.9% in 2006 to 20.3% in 2009. Public debt as a proporation of GDP is also seen gradually falling from 104.1% in 2006 to 91.3% in 2009.

Spending on wages and pensions, however, is forecast to increase 6.4% in 2007 relative to 2006, representing a rise of 1,244 million euros, and includes the 600 million euros increase in OGA farmer pensions, the 190 million euros increase in the EKAS low-pension supplement and reimbursement of the wrongly withheld LAFKA levy that comes to 110 million euros.

The public deficit in GDP terms is expected to be roughly 2.4% in 2007, dropping to 1.8% in 2008 and 1.2% in 2009.

The ministry notes that a committee has been set up to examine the long-term viability of public finances in terms of available figures for spending on pensions up to2050, and to make proposals regarding the Greek social insurance system by the autumn of 2007.

It also refers to an expected increase in revenue expected to result from government measures to tackle tax evasion and broaden the tax base.

[02] PASOK criticises updated Stability Programme as 'irresponsible'

According to Papandreou, who is responsible for economy and finance issues on PASOK's Parliamentary Council, the Stability Programme lack a strategy for the economy and did not have clearcut goals regarding the country's role in the globalised economy.

"Developmental prospects are completely missing, while stability is only apparent," she said.

The Programme also revealed the massive increase in indirect taxes and a reduction of direct taxes, while the redistribution of incomes at the expense of the economically weaker classes had exceeded all limits, she added.

Papandreou additionally noted a reduction in investments that she said was due to the great reduction in the Public Investments Programme.

Regarding fiscal adjustment, the MP said that this was taking place only on paper since there was no references to the increased debts of hospitals, the financing of public utility social insurance funds or the postponement of several billion euros in interest payments for public debt to the future.

In addition, there was no record of defence spending, which had been a central argument in ND's decision to carry out a general government audit on coming to power.

[03] Karamanlis-Basiakos meeting

Basiakos stated afterwards that they discussed the acceleration of procedures in the payment of subsidies and the increase of compensations received by the farmers.

Basiakos also spoke of a situation reversal concerning the farmers� income reduction.

He stated that the farmers� income recorded a 2.5 percent increase in the past two years, while during the same period of time exports rose 24 percent with a 29 percent rise in the last quarter.

The problematic situation of the past has gone for good, stated Basiakos stressing that great attention is given to the regions and every community regulation in support of the farmers is being exploited.

Basiakos also distributed a leaflet with conflicting statements made by the leader of PASOK other party officials.

[04] Karamanlis' scheduled meetings for Saturday

[05] PASOK leader Papandreou visits Oinofita

The situation in the region is grave due to the lack of environmental protection measures on behalf of the tens of industrial plants operating in the area, stressed Father Economidis, adding that dioxins are being released into the atmosphere as a result of the uncontrollable burning of toxic waste, while chimneys are not equipped with special filters preventing air and water pollution.

Such practices lead to the deterioration of the health of the local population and the approximately 10,000 workers coming in from Athens every day, he stressed, while he also referred to the systematic effort made to teach the Greek language to immigrants who make up half of the Oinofita population.

On his part, PASOK's leader stressed that the region needs infrastructure projects and the implementation of environmental protection measures promoting sustainable development and quality of life.

Papandreou also visited the local kindergarten school and attended a Christmas celebration.

[06] President's message to Greeks living abroad

The President also underlined that the Greeks living abroad managed to become assimilated in their new countries in an exemplary fashion and under adverse conditions without forgetting their identity, serving as a bridge of cooperation between different peoples and societies.

[07] Archbishop of Athens warns against 'secularising' of Christmas

"We must not allow Christmas to be secularised. Children should not be left in ignorance, unaware of what we are celebrating," he said, noting that outside influences were seeking to replace the religious aspect and theological dimensions of the holiday.

"The world around us is in turmoil. And many would desire our people to become a 'dizzy herd'. To not react to the levelling. To accept their role as a consumer unit without spirituality, without Orthodox prospects, without historical continuity, without the ability for self-determination. And for the holidays to be diminished to seasonal opportunities to exchange social greetings and gifts," he said.

[08] Christmas message by Archbishop Anastasios of Tirana

The Archbishop points out that when family, the fundamental nucleus of society that shields human beings and ensures their growth, is disturbed, then individuals become deeply traumatized as personalities and social decadence follows.

Archbishop Anastasios also pointed out that the Church has to highlight the value of the human being and display a special interest in the poor and the misfortunate.

[09] Christmas message by Patriarch of Alexandria

Patriarch of Alexandria and All Africa Theodoros II in a Christmas message on Friday said that "peace and harmony is not achieved with agreements, treaties and signatures, but through their consolidation deep in the soul of all of us, through the love which is offered to us by the birth of Christ."

The Patriarch of Alexandria said he was against every form of violence, poverty and hunger and particularly wars "which not only are not condemned in practice but are justified in the name of freedom."

Financial News

[10] National Bank: Romanian tender stalled

Later in the day, the Romanian government announced that it would postpone CEC's privatisation for at least two years.

The offer was given to Romania's privatisation authority shortly before the announcement.

[11] State firm defends recruitment of consultant

The company was responding to media criticism that ETA had breached European Union rules.

[12] Gov't defends support for 5-star hotels

"As part of government policy to spur growth and employment, the utilisation of opportunities in the new investment law is required," the ministry said in a statement.

"The (EU's) regional subsidy map has been incorporated into Greek law, allowing investment support in all regions, including Attica and Thessaloniki, which are entitled to receive 30% support," the statement said.

[13] Deputy development minister visits central meat market in Rendi

In statements afterward, the minister said that prices and supply were mostly at normal levels, with the exception of domestic turkeys, where prices were high because of production shortfall.

[14] Winter sales to begin on January 22 in Greece

[15] Attica municipalities protest over water board debt collection measures

Filippou asked the minister to intervene and revoke the measures taken by EYDAP, which he said had blocked revenues coming into the municipalities and prevented them from carrying out their obligations during the Christmas holidays.

He also asked EYDAP to revoke huge increases in water rates for local government organisations and begin dialogue to find a solution.

According to TEDKNA's president, the debts toward EYDAP arose because of a huge 121% rate increase in 2001-2003.

[16] Cosmote holds 90.61% of Germanos

Following the transactions, Cosmote's direct and indirect participation in Germanos is approximately 90.61%, management said in a statement.

The gradual transfer of almost all of Germanos' shares will end on December 29, taking Cosmote's holding to 98.99% in the wake of a public offer that was held, the statement said.

[17] Alpha Bank sells stake in ICAP

In a statement to market authorities, Alpha said the 26.96% stake was sold to a fund managed by Global Finance.

[18] easyCruise to open Greek operation

The cruise company will begin operating in May 2007, the company said in a statement.

[19] Athens Bourse Close: Stocks drop

The FTSE/ASE-20 index for high capitalisation shares ended 0.52% down; the FTSE/ASE-40 for medium cap stocks 0.58% higher; and the FTSE/ASE-80 for small cap shares finished 0.21% up.

Of stocks traded, declines matched advances at 123 with 53 remaining unchanged.

Sector indices ended as follows:

Insurance: -0.30%

Industrials: +0.15%

Commercial: +0.29%

Construction: +0.88%

Media: -0.94%

Oil & Gas: -0.38%

Personal & Household: +0.57%

Raw Materials: +1.62%

Travel & Leisure: -0.51%

Technology: -0.11%

Telecoms: -3.01%

Banks: +0.16%

Food & Beverages: -1.89%

Health: -0.62%

Utilities: -0.68%

Chemicals: -0.18%

Financial Services: +0.06%

The stocks with the highest turnover were National Bank, Alpha Bank, OTE and OPAP.

Selected shares from the FTSE/ASE-20 index closed in euros as follows:

Alpha Bank: 22.94

ATEbank: 3.86

Public Power Corp (PPC): 19.40

HBC Coca Cola: 29.20

Hellenic Petroleum: 10.26

Emporiki Bank: 23.76

National Bank of Greece: 34.68

EFG Eurobank Ergasias: 27.10

Intralot: 24.92

Cosmote: 22.84

OPAP: 29.00

OTE: 22.82

Titan Cement Company: 41.50

Derivatives Market Close: Alpha Bank top in stock futures trade

Equity Index Futures: