Athens News Agency: News Bulletin in English, 07-03-01

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

CONTENTS

[01] FinMin says decision on pension reform belongs to next government

[02] Premier Karamanlis briefed by FinMin Alogoskoufis on ECOFIN meeting

[03] Gov't spokesman: NATO exercise postponed due to weather conditions

[04] PASOK's Pangalos refers to Turkish demands on NATO, FM responds

[05] Bill on university education sanctioned by majority deputies

[06] PASOK positions on education 'copy' ND policies, government says

[07] PASOK enters final phase of programme's preparation

[08] Parliament president sees Bulgarian-Greek cooperation within EU

[09] Israeli Dep. Defence Minister Sneh holds talks with Greek counterparts

[10] Gov't dismisses 'hints' of early elections

[11] Greece to lodge demarche with Australia over Howard statement

[12] Deputy sports minister briefs PM on current issues

[13] PM to confer Thursday with parliament president, tourism minister

[14] Deputy FM in SEECP meeting in Zagreb

[15] KKE leader Aleka Papariga visits Karditsa

[16] Development minister addresses International Energy Conference

[17] U.S. ambassador comments on Burgas-Alexandroupoli oil pipeline

[18] Merchant marine minister outlines ministry's initiatives and prospects

[19] OTE announces early retirement plan for 450 employees

[20] Development Minister Sioufas inaugurates new offices of Consumer's Ombudsman

[21] Deputy FM at inter-governmental con'f in Madrid

[22] Alpha Bank says net profits up 24.6 pct in 2006

[23] Greek PPI unchanged in Jan., yr/yr

[24] Greek inflation slowed to 3.0 pct in January, yr/yr

[25] Geniki Bank reports 78.8-mln-euro loss in 2006 due to higher provisions

[26] EOMMEX technical aid program to businesses in Egypt

[27] Greek retail sales index up 14.7 pct in December 2006, yr/yr

[28] Frigoglass says net profits up 58.5 pct in 2006

[29] NEL Lines cites deal to sell 2 ferries for 85 mln euros

[30] Greek stocks end 1.34 pct lower

[31] ADEX closing report

[32] Greek bond market closing report

[33] Foreign Exchange Rates - Thursday

[34] President Papoulias bestows honourary distinctions to personalities

[35] Papoulias receives St. Petersburg governor

[36] Rare 17th century icon identified

[37] Public works minister on dangerous refuse treatment

[38] Athens pays tribute to literary figure

[39] Four light earthquakes jolt Halkidiki, no damage reported

[40] Police announce arrest of man in international card-cloning ring

[41] Road death statistics

[42] Two foreign nationals arrested for theft, burglary

[43] Foreign nationals arrested for robbery

[44] Month-long abuse blamed for man's death; five arrests made

[45] Man arrested for attempting to set a woman afire

[46] Hooded individuals rob PC store in downtown Athens

[47] Illegal migrants intercepted on Samos

[48] Weather forecast: Overcast on Thursday

[49] Cyprus and France sign defence cooperation agreement

[50] Cyprus in contact with German EU presidency over trade with Turkish Cypriots

[51] France confirms no progress on Turkey opening ports and airports to Cyprus

[52] Cyprus not worried Egypt will not keep agreement over oil exploration

[53] Cyprus rejects Turkish allegations of 'rearmament efforts'

[01] FinMin says decision on pension reform belongs to next government

Speaking to reporters, the Greek minister said a public dialogue over the pension system was currently underway and that any decisions by the government would come after the general elections, due for next year.

Alogoskoufis said he did not discuss the elections issue with EU Monetary Affairs Commissioner Joaquin Almunia, since the issue was covered by the country's constitution. "I met with Mr. Almunia and we discussed the process over the social insurance issue. The next government will have the initiative on the issue," he noted.

The Greek minister said he briefed his EU counterparts over the course of the Greek economy and the condition of the economy at the time when the government took office in early 2004.

"In 2004 we had two targets: Fiscal adjustment and structural reforms for the support of economic growth and employment through private investments and exports," he said.

Alogoskoufis said this policy has already offered significant results. The general government's deficit fell by around five percentage points of GDP while economic growth was 3.7 pct in 2005 and was expected to reach 4.3 pct in 2006. "We also achieved an increase in exports, higher employment and lower unemployment," he noted.

Refering to an ECOFIN council meeting in Brussels, the Greek minister said the meeting discussed current economic conditions in the EU, labour cost developments, stability and growth programmes and preparations of a spring Council to be held March 8-9. The meeting also discussed tax policy in Europe and in particular proposals to harmonize corporate taxes. Alogoskoufis said there were disagreements between EU member-states over the issue.

Commenting on a plan to further privatise Hellenic Telecom-munications Organisation, Alogoskoufis said he was expecting recommendations by privatisation consultants.

[02] Premier Karamanlis briefed by FinMin Alogoskoufis on ECOFIN meeting

Speaking to reporters after the meeting, Alogoskoufis said that Greece's Stability and Growth Programme had been assessed during the ECOFIN meeting, adding that "the evaluation was positive", and that "the positive course of the Greek economy was acknowledged".

The minister noted, however, that some problems still existed, adding that consdquently the fiscal adjustment needed to be contined and more reforms were also necessary.

Asked when the Greek economy would be removed from the "excessive deficit procedure", Alogoskoufis replied that the timing and when the decision would be taken concerned the European Commission and the Council, adding that "the European Commission will decide when it will make the recommendation", and referred reporters to statements by EU Economic Affairs Commissioner Joaquin Almunia.

Almunia said on Tuesday that Greece's exit from the procedure regarding excessive deficit could take place around May, 2007, provided that current estimations that Greece achieved stabilisation of its fiscal deficit at below three per centage points of its Gross Domestic Product (GDP) in both in 2006 and 2007, were confirmed.

Almunia was responding to questions during a press conference at the end of an ECOFIN council meeting in Brussels. He also said that he had discussed the issue with Alogoskoufis earlier in the day.

[03] Gov't spokesman: NATO exercise postponed due to weather conditions

The questions concerned the postponement of the exercise and a recent Turkish request to NATO that Ai Stratis islet be characterised as a demilitarised zone.

Antonaros added that Greece's foreign and defence ministries "have taken the due actions towards the Alliance authorities".

Asked whether the Turkish move affected Greek-Turkish relations, Antonaros said that isolated incidents did not alter the fact that the relations between the two countries have been improving in recent years, and stressed that the government was safeguarding the Greek interests.

To another question, Antonaros said that Turkish foreign mini-ster Abdullah Gul's visit to Athens has not been finalised.

Asked whether the Greek government feared a Greek-Turkish crisis in the Aegean, Antonaros replied that a "dramatic impression" was being created "that has no relationship with the reality".

[04] PASOK's Pangalos refers to Turkish demands on NATO, FM responds

He spoke of a 'very loose and to date non-existent reaction' by the National Defense Ministry and by the Foreign Ministry, towards the Turkish demand.

Pangalos stressed that 'it concerns a very important event which shows, on the part of Turkey, an increased audacity and an increased tendency to dispute our national sovereignty, while on the part of the Alliance, a greater coincidence with the Turkish views.'

The former minister spoke of 'the country's complete incapability in the mobilization of the international factor and to the exploitation of the potential offered us by the alliances.'

Referring to a statement made a few days ago by Foreign Ministry Spokesman George Koumoutsakos, who criticized a Russian official (as Russia disputes the policy of the Czech Republic and Poland to accept on their territory medium-range missiles) spoke of 'a most unfortunate' statement.

'These countries (the Czech Republic and Poland), which are members of the European Union, did not brief the countries which are their partners, in the European framework, downgrading their European participation in relation to what they view as a supreme principle of their foreign policy, that is, their stance towards the United States,' the PASOK deputy said.

'Greece, not only did not ascertain with concern this phenome-non, but sped to comment, in a particularly strange way and up to now I would say, unprecedented, statements by a Russian official, who expressed the views of his country's foreign policy,' Pangalos concluded.

Response by FM Bakoyannis

Responding to Pangalos' statements, Foreign Minister Dora Bakoyannis said that 'PASOK knows that whenever a demand for briefing is expressed on matters concerning the country's foreign policy, the Foreign Ministry responds immediately.'

She added that 'if Mr. Pangalos had asked to be briefed, he would have known that on the matter of the recent NATO exercise, all the necessary and advisable actions for the safeguarding of Greek interests and positions, were taken immediately.'

Concluding, Foreign Minister Bakoyannis said that 'regarding the second point of the announcement, PASOK should not be concerned,' adding that 'Greece-Russia relations were, are and will be excellent.'

Synaspismos statement

Regarding the cancellation of the NATO exercise at the island of Aghios Efstratios, the Coalition of the Left, Movements and Ecology (Synaspismos) in an announcement said that 'Synaspismos neither had nor has any illusion of NATO's role in Greek-Turkish relations.'

It added that 'to the well known problems raised by Ankara's political and military establishment, the answer is one, the energetic seeking of another course in Greek-Turkish relations with dialogue for the solution of the problems on the basis of international law and utilization of the International Court at the Hague, without disputes of sovereign rights and grey zones.'

Concluding, Synaspismos said 'the Greek government is unfortunately inert and lacks initiatives in this direction.'

[05] Bill on university education sanctioned by majority deputies

Concluding the meeting, Deputy Education Minister Spyros Taliadouros said that "a simple comparison between the proposal presented by the government for discussion in June and today's bill shows that dialogue took place and that proposals were included."

Taliadouros added that "the draft law is the product of extensive dialogue, it has a specific issue, it is part of an overall strategic planning framework, it comes to tie funding in the framework of the four-year planning with a binding agreement."

The deputy education minister further said that "following are draft laws on research (in cooperation with the development ministry), a law on postgraduate studies and a law on university entry. We are beginning dialogue and discussion on this issue so that the relevant arrangement will come later, after the elections."

Antonaros on planned reforms to high schools

Following up the government's announcement on Tuesday regarding planned reforms to upper secondary education - the three-year upper high school known in Greece as 'lyceum' - Antonaros said that the prime minister had first referred to the need for a qualitative improvement to lyceums in a Parliamentary debate on November 8, 2004. He said that the reform effort in tertiary education would be followed by a similar process for lyceums.

The spokesman also repeated assurances made by government spokesman Theodoros Roussopoulos on Tuesday, underlining that these changes would be carefully prepared after lengthy dialogue and that no one would be taken by surprise.

Finally, in response to questions on whether the announcement of the planned reforms had 'sidestepped' Education Minister Marietta Yiannakou, Antonaros stressed that the education minister enjoyed the support of all members of the government.

Reactions to bill for changes in universities

Representatives of university rectors and of presidents of foundations of higher education on Wednesday reacted positively to the bill proposed by the National Education and Religious Affairs Ministry, before Parliament's Educational Affairs Committee.

The representatives of the rectors' and presidents' Bodies, Messrs. Bagiatis and Kouroubas, stressed that 'the bill includes quite a few proposals which the Bodies themselves have,' adding, however, that 'in certain points, further clarification is needed of the state's obligations towards the foundations.'

They also noted 'the insufficiencies of their administrative personnel to meet the broader duties foreseen for the foundations of higher education.'

Education Minister Marietta Yiannakou accepted the demand of the rectors' and presidents' representatives for the founda-tions to determine themselves, within the framework of their four-year planning, the number of entrants who can be absorbed.

On his part, the president of the Panhellenic Federation of Teachers' Organisations and University Research Personnel (POSDEP), Lazaros Apekis, refused to voice his views, believing, as he said, 'pretentious' the procedure. He restricted himself by submitting a memorandum of POSDEP's positions.

[06] PASOK positions on education 'copy' ND policies, government says

According to Antonaros, the PASOK president's statements showed that he (Papandreou) recognised the correctness of the government's positions on tertiary education.

On at least four points, Papandreou's ideas were -- if not identical -- then at least very close to the proposals put forward by the government, the spokesman added.

In a departure from the customary practice for party leaders, Papandreou had addressed Tuesday's debate at the committee level in Parliament after the education minister, saying his presence there was an effort to overcome the impasse.

"I am not here to ask you to withdraw your bill. There is a solution. And the solution is not in the articles of the bill you have tabled, which seeks to dominate universities," he said.

In response to Yiannakou's emphasis on solving the problems of tertiary education by following the guidelines of the European Commission - which state that universities should be self-administrating, autonomous but, more importantly, accountable to society - Papandreou countered with a proposal to replace the articles of a "half-baked bill lacking vision" with four "simple and clear articles that create the foundation for the new university in our country".

These four articles would bring about "radical change to the way of governing universities, in collaboration with the universities themselves and in accordance with the best practices worldwide," he said.

His proposals for reform included "self-administration, evaluation and funding," for universities; a requirement that they submit their internal regulations to an independent authority in charge of their evaluation and certification, including private universities when these possible arise in the future; independent internal evaluation by the students themselves, and "four-year planning of activities on the basis of which an agreement will be drawn up with the state for the funding of the university, based on measurable targets".

Earlier, Yiannakou said the bill proposed by the government would be the "base for the structure and operation of higher educational institutes (AEI)".

"It is in essence a gradated reform that will radically improve the current situation, will establish better rules for meritocracy and transparency - and particularly the points noted by the European Commission," she said.

While conceding positive points within the existing legislative framework governing AEI, she also pointed out that this had led to serious problems by instituting a lack of objective criteria in universities.

"We have got to the point where AEI work for approximately 80 days in a year. The funds were not exploited to the necessary degree and this came out in stark relief when a number of academics and student refused evaluation. In what country is it considered possible that the state give money without evaluation? In none," Yiannakou said.

The minister pointed out that Greek state funding for universities was higher as a percentage of GDP (1.28 percent) than in any other EU country.

"In terms of national funds, only we have such high state funding. Let us increase it, by all means, but how? -- With programming, proposals, control and measurable results. Not indiscriminately," she underlined.

Papandreou criticised the government's final result as "timid, contradictory, conservative and cursory", while accusing Prime Minister Costas Karamanlis of deliberately using a crucial issue to divide Greeks as part of a petty party-political strategy linked to the upcoming elections and then anxiously scouring opinion polls to assess support for his bill.

"If they asked me on the street, I would reply 'yes to the reforms but no to the bill brought by the Karamanlis government'," he told the Committee.

PASOK's leader claimed that the bill failed to address key issues, such as working students or so-called 'eternal' students dragging undergraduate studies over decades, while the self-administration of universities was virtually non-existent and student participation, in the way envisaged by the bill, would increase the grip of party-politics on universities. He also questioned whether it would be able to handle the problems arising through the abuse of university asylum, saying that this was something that had to be solved from within universities themselves.

Finally, he repeated a call for a national referendum on educational reform based on "radical and innovative proposals rather than spin and pointless polarisation".

Commenting on Papandreou's proposals, Yiannakou said they appeared to lend support to the core of the government proposals:

"What I understood from his speech - in which he refers to four-year programming and international universities - is that he told us that he is not essentially opposed to the core of the reforms. These principles obviously exist within the present bill. We take this discreet and between-the-lines position seriously into account," she said.

Criticism of the bill also came from the Coalition of the Left, of Movements and Ecology (SYN) leader Alekos Alavanos, who said that it should be withdrawn after the government failed to obtain a Parliamentary two-thirds majority for changing article 16 of the Constitution:

"It is not possible to debate in an unstable framework - and the same applies to the main opposition if it is consistent with what it has said before. We cannot accept a framework-bill that was drawn up with a change to article 16 in mind. Because you take a different approach when state universities 'blossom' in a garden with other 'flowers', private enterprises and the like," Alavanos said.

Speaking for the Communist Party of Greece (KKE), MP George Hourmouziadis claimed the bill failed to address important issues, such as student welfare, commitment to a free state university system and to make clear the state's commitment to provide generous funding for teaching and research in state universities.

"Universities are described, however, as an attractive area for businesses, with specific references rather than allusions," he added.

The MP was also sharply critical of proposals for covering the cost of studies with bank loans, saying this would create a generation that were hostages to the greed of banks.

[07] PASOK enters final phase of programme's preparation

This is the last phase regarding the preparation of the main opposition party's programme, which will be completed with a party Congress on May 18-19.

Papandreou on Friday will also chair a meeting of the Political Council which will elaborate its own proposals for the programme due to be submitted to the party's National Council. The latter will convene on Saturday in order to give the final touches to the "programme's framework" which, in its turn, will be presented for discussion to party members and to supporters.

On Sunday morning, Papandreou is expected to address a party rally at the Peace and Friendship Stadium.

[08] Parliament president sees Bulgarian-Greek cooperation within EU

Wrapping up a visit to Bulgaria, Greek Parliament President Anna Psarouda-Benaki on Wednesday said she was satisified with its results, while noting that Athens and Sofia had a similar approach on key European issues that promised fruitful cooperation between the two countries within the European Union.

In statements to the ANA-MPA, she described her visit as "exceptionally successful, productive and fruitful," and said that her talks with Bulgarian officials had focused on two levels, bilateral and European.

On a bilateral level, the two sides discussed outstanding problems with infrastructure problems of interest to both countries and noted a large margin for increasing economic cooperation.

"Beyond this, however, it is important to work with Bulgaria in dealing with all European matters, also. Because Europe, as we know, is at a crossroads. It must decide where its future lies, what institutions it will create as the basis of its political organisation and, chiefly, what policies it will follow in order to meet the demands and expectations of its citizens," she said.

In talks on Wednesday with the Patriarch of All Bulgaria Maxim, Psarouda-Benaki emphasised that Bulgaria and Romania's entry into the EU increased the number of countries where the main religion was Orthodox Christian within Europe to four, greatly strengthening the position of the Orthodox Church within the Community.

While in Sofia, Psarouda-Benaki held talks with her Bulgarian counterpart Georgi Pirinski, Bulgarian President Georgi Parvanov and Bulgarian Prime Minister Sergei Stanishev. She is due back in Athens for a meeting with Greek Prime Minister Costas Karamanlis on Thursday morning.

[09] Israeli Dep. Defence Minister Sneh holds talks with Greek counterparts

Earlier, Sneh attended a working lunch at the foreign ministry for talks with Deputy Foreign Minister Theodoros Kassimis, where discussions revolved around the situation in the SE Mediterranean basin and prospects for mutual cooperation in the hi-tech, industrial and economic sectors.

Security in the Middle East and Balkans dominated talks during Sneh's meeting with Mihaloliakos, whereas both sides expressed volition to expand cooperation in the defence sector.

According to reports, the Greek deputy minister emphasised that security in the sensitive Mideast region remains the supreme issue at hand, one however, "that cannot and must not be imposed unilaterally via military means, but should be the product of consensus."

On his part, Sneh -- a noted Labor party cadre as well as a high-ranking military physician and officer before retiring from active duty - expressed a view that the "Road Map" for Mideast peace is a priority, while he expressed Israel's increased concerns over Iran's nuclear programme.

Turning to an issue of particular regional interest for Greece, Sneh cited Israel's support for Athens' positions vis-à-vis the "name issue" with the Former Yugoslav Republic of Macedonia (FYROM), reminding that the Israeli government recognises the one-time Yugoslav republic as FYROM.

[10] Gov't dismisses 'hints' of early elections

Alternate government spokesman Evangelos Antonaros merely told reporters at his regular daily briefing that previous statements on the subject by the government, most notably by the prime minister himself, stand. Premier Costas Karamanlis has on several occasions over the past few months said his goal is for the government to exhaust its four-year mandate.

On Tuesday from Brussels, Almunia said Greece's exit from a procedure regarding excessive budget deficits could take place around May, provided that current estimates that the country achieve stabilisation of its fiscal deficit below 3 percent of GDP are confirmed, both for 2006 and 2007.

[11] Greece to lodge demarche with Australia over Howard statement

Greece's ambassador in Canberra, George Zois, on Thursday will call on the Australian foreign ministry to lodge a demarche over a recent statement by Australian prime minister John Howard comparing the civil strife in Iraq with terrorism in Greece, the envoy himself confirmed on Wednesday in a statement to ANA-MPA.

During a recent interview with Melbourne-based radio station 3AW, Howard likened Greece with Iraq, with respect to terrorism, in a statement that was strongly criticised by the Greek community in Australia, while the director of the Greek Embassy's press office in Sydney, Efthymios Aravantinos, called Howard's statement "off target" in a statement to The Age newspaper quoted in an article on the incident.

In a statement to the same newspaper, the Australian National University in Canberra's director for Arab and Islamic Studies, Amin Saikal, also said that such a comparison of Iraq with Greece was not possible.

"It is impossible to compare the violence in Iraq with the violence in Greece," he said.

[12] Deputy sports minister briefs PM on current issues

Replying to a question by the press, Orfanos said that the deputy sports ministry has two pending legislative issues concerning the Sports Code and the Race Course.

Orfanos further said that he and the prime minister also discussed issues regarding the effort to combat violence in stadiums.

[13] PM to confer Thursday with parliament president, tourism minister

[14] Deputy FM in SEECP meeting in Zagreb

The meeting will focus on promoting further regional coope-ration and reinforcing SEECP, in view of the Stability Pact's transformation into a Regional Council of Cooperation, the press release added.

[15] KKE leader Aleka Papariga visits Karditsa

Papariga said during a press conference that her visit to the city was mainly devoted to farmers and small holders, saying that "attention is paid to young people who are trying to survive in the countryside and who are also forced to find a second job."

She further said that a decrease in the farmers population is being attempted with the farmers register and termed it a "sly element" that "aims at money from production being collected by a few hands."

Papariga stressed that the party is examining an overall proposal, adopting demands that suit the interests of and rally farmers, and spoke of minimum guaranteed prices for products, a decrease in production cost with a state policy guarantee, the arrangement of debts and the payment of subsidies in their entirety, full social security for farm production, the immediate doubling of pensions and free public social services.

Financial News

[16] Development minister addresses International Energy Conference

Sioufas said Greece is an importer of hydrocarbons (oil and natural gas), but it also possesses considerable reserves of lignite and a rich potential for producing electric energy from renewable energy sources.

"The policy we have been following over the past three years is aimed at increasing investments and production from renewable energy source systems, as well as the better utilisation of the National Energy Resource of lignite with the use of modern and cleaner forms of processing," the minister said.

Sioufas stressed that the government's energy policy is shaped with a view to the year 2010 onward and pointed out that by the year 2010:

The established capacity of renewable energy source systems will amount to three thousand MW compared to 400 MW in March 2004, about 750 MW at the end of 2006 and 1,150 MW at the end of 2007.

Three new production units with natural gas as fuel will have been added to the electric energy production system.

The participation of biofuel will amount to 5.7 percent of the energy content of oil and diesel oil consumed in transport.

The natural gas networks will have covered the largest continental part of the country, while big investments will have been completed in the sector of electric power transportation.

Sioufas concluded his address by saying "in past years, Greece has been taking many and important international energy initiatives. With its participation in the construction of international networks for the transfer of natural gas, oil and electric energy, it is contributing to the energy security and the supply security of international markets. In parallel, it is strengthening its energy ties with the neighbouring countries, the Mediterranean countries, the Black Sea countries and the countries of the Arab Peninsula. It also supports the energy dialogue between the European Union and Russia, as well as every initiative by the European Commission in this sector."

[17] U.S. ambassador comments on Burgas-Alexandroupoli oil pipeline

"The efforts of the Greek government concerning the Burgas-Alexandroupoli oil pipeline, the initialling of the inter-state agreement, constitutes an important step for the progress of the plan. It shows that there is a political commitment to secure the implementation of the regulatory and government aspects of this agreement. The next stage is the commercial agreement to be processed by all the partners," he said.

Asked whether he is optimistic over the signing of the final agreement, Ries said "I do not see why the next step should not go ahead, but the commercial agreement between the partners is necessary, who will participate in the joint venture, who will contribute with capital and who will jointly receive loans for the payment of costs."

On the question of NATO's role on the issue regarding the alliance's exercise in the Aegean and Ankara's demands about the island of Agios Efstratios, the American amabassador said "I think that the question says everything. It is a NATO exercise and I think that you must appeal to NATO, it is not a bilateral issue for us."

[18] Merchant marine minister outlines ministry's initiatives and prospects

Kefaloyiannis referred to the ministry's new building, saying that a decades-old dream has become a reality. The building lies in a space of 42,000 square metres, it is ultramodern and its total cost of 30 million euros was covered with a loan from ther Deposits and Loans Fund.

In the sector of port policy, an important step was the signing of a funding protocol with the European Investments Bank, amounting to three billion euros. On the basis of this funding, projects were carried out and others have been scheduled at the ports of Piraeus, Thessaloniki, Corfu and Iraklio.

The Greece-Korea cooperation memorandum on the development, management and operation of the Tymbaki port constitutes a milestone since it is a great project that provides great prospects of development for Crete and the Greek economy.

As regards the city of Piraeus, the first goal is its development into an international maritime centre. Consequently, the construction of the new international exhibition, convention and business centre has already been proclaimed, that will be carried out in the region of Palataki and will cost over 80 million euros.

[19] OTE announces early retirement plan for 450 employees

OTE's board signed a labour agreement with employees' union OME-OTE offering early retirement to 450 staff members with financial incentives ranging from 5,000 to 36,000 euros. The plan will begin April 18 and it is expected to be completed by the end of the year.

[20] Development Minister Sioufas inaugurates new offices of Consumer's Ombudsman

'The new institution over the coming years will show its value as an independent authority as well, close to the other inde-pendent authorities and it will offer the country's citizens security in transactions,' the development minister said, adding that 'the Consumer's Ombudsman constitutes a durable net for the protection of consumers against arbitrariness and mislea-ding practices in the market.'

[21] Deputy FM at inter-governmental con'f in Madrid

The conference's objective is to define suitable policies and programmes for development-oriented cooperation between donor countries and international organisations, one aimed at providing more effective support to middle-income countries in order to reinforce their economic stability, social cohesion and democratic governance.

[22] Alpha Bank says net profits up 24.6 pct in 2006

Loans totalled 33.2 billion euros, up 17.3 pct from 2005, with the loan portfolio in Southeastern Europe rising by 35.8 percent. Savings rose 10.4 pct to 41.2 billion euros, while private banking capitals rose 15.9 pct to 4.9 billion euros. Saving deposits in Southeastern Europe rose 37.8 pct to 3.6 billion euros in 2006.

Alpha Bank said its pre-tax profits totalled 70 million euros last year, an increase of 20.3 pct from 2005. The bank's branch network rose by 94 units (40 in Romania, 30 in Bulgaria, 14 in Serbia, five in Albania, three in FYROM and two in Cyprus), raising its total network to 270 units. The bank plans to raise its network to more than 500 units next year. Alpha Bank said housing and consumer credit in the Balkans jumped 130.3 percent and 54.7 pct, respectively, last year, while housing loans in Cyprus jumped by 86.5 pct in 2006.

Yiannis Costopoulos, Alpha Bank's chairman, said the main priority of the bank was sustainable profitability with a constant improvement of services.

[23] Greek PPI unchanged in Jan., yr/yr

The statistical service said the January figure reflected a 0.5-pct drop in the domestic market producers' price index and a 0.7-pct fall in the foreign market producers' price index.

[24] Greek inflation slowed to 3.0 pct in January, yr/yr

The EU executive's statistics agency said the inflation rate in Eurozone also eased to 1.8 pct in January, from 1.9 pct in December and was down from a 2.4 pct figures in January 2006. Inflation in the EU-27 fell to 2.1 pct in January frmo 2.2 pct in December and 2.3 pct in January 2006.

Holland (1.0 pct), Malta (1.2 pct) and Finland (1.3 pct) recorded the lowest inflation rates in January, while Hungary (8.4 pct), Latvia (7.1 pct) and Bulgaria (6.9 pct) the highest rates.

The inflation rate rose in 11 EU member-states, it was unchanged in Luxembourg and fell in 15 member states in January.

[25] Geniki Bank reports 78.8-mln-euro loss in 2006 due to higher provisions

In presenting the results, Jacques Tournebize, the bank's head, said Societe Generale - one of the biggest banks in the Eurozone - had full confidence in the prospects of Geniki Bank, while announced a large share capital increase plan in the next few months for the bank to conform with all international institutional and regulatory standards. Tournebize said Societe Generale wished to create a strong bank in Greece.

Operating income totaled 44.6 million euros in the fourth quarter of 2006, down 5.5 pct from the same period in 2005, while income from total operations fell 1.6 pct to 168.5 million euros over the same period.

Geniki Bank's provisions totaled 72.1 million euros last year. The bank reported a 23 percent increase in consumer loans and a 29 pct rise in housing loans last year, attracting 31,800 new customers. Loans rose by 11.1 pct, while saving deposits totaled 2.6 billion euros, up 7.0 percent in 2006.

[26] EOMMEX technical aid program to businesses in Egypt

On the occasion, an event was held at the premises of the National Bank's Training Centre in Glyfada, Attica, on Wednesday for technical aid on issues of export marketing and panetrating international markets.

EOMMEX SA president George Souflias noted the already good cooperation between Greece and Egypt, but also the usefulness of the further improvement of bilateral relations between the two countries.

[27] Greek retail sales index up 14.7 pct in December 2006, yr/yr

The statistics service attributed the spectacular increase to a 13.9 pct rise in food stores and a 15.7 pct increase in other stores over the month.

The retail sales volume index was up 10.5 pct in December 2006, from the same month in 2005.

[28] Frigoglass says net profits up 58.5 pct in 2006

The company said operating earnings totalled 26.7 million euros in 2006. Frigoglass said 2007 would be a year of high capital spending as part of a programme to lay the foundations for a long-term expansion in foreign markets, such as China.

[29] NEL Lines cites deal to sell 2 ferries for 85 mln euros

NEL Lines said the proceeds from the sale would generate accounting profit of 3.9 million euros for the company, while the money raised from the sale could be used for its expansion through new purchases or acquisitions.

The two vessels are currently operating in the Red Sea.

[30] Greek stocks end 1.34 pct lower

Most sector indices ended lower with the Utilities (3.42 pct), Oil (3.11 pct) and Industrial Products (2.15 pct) suffering the heaviest losses of the day, while the Construction (0.91 pct), Food-Beverage (0.87 pct) and Healthcare (0.87 pct) scored gains.

The Big Cap index fell 1.56 pct, the Mid Cap index eased 0.36 pct and the Small Cap index ended 0.15 pct lower.

Gener (12.5 pct), Progressive (12 pct) and Vis (10.77 pct) were top gainers, while Desmos (7.69 pct), Kathimerini (6.88 pct) and Boutaris (6.78 pct) were top losers.

Broadly, decliners led advancers by 147 to 108 with another 56 issues remaining unchanged.

Sector indices ended as follows:

Insurance: +0.31%

Industrials: -2.15%

Commercial: -0.60%

Construction: +0.91%

Media: -1.22%

Oil & Gas: -3.11%

Personal & Household: +0.77%

Raw Materials: +0.82%

Travel & Leisure: -2.03%

Technology: -2.12%

Telecoms: -1.96%

Banks: -1.53%

Food & Beverages: +0.87%

Health: +0.87%

Utilities: -3.42%

Chemicals: -1.92%

Financial Services: +0.44%

The stocks with the highest turnover were National Bank, Alpha Bank, Eurobank and Piraeus Bank.

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

Alpha Bank: 23.30

ATEbank: 3.90

Public Power Corp (PPC): 19.54

HBC Coca Cola: 29.24

Hellenic Petroleum: 10.28

Emporiki Bank: 21.48

National Bank of Greece: 39.10

EFG Eurobank Ergasias: 28.04

Intralot: 24.42

Cosmote: 22.00

OPAP: 26.70

OTE: 20.50

Titan Cement Company: 43.22

[31] ADEX closing report

The March contract on the FTSE 20 index was trading at a discount of 0.30 pct and on the FTSE 40 index at a discount of 1.69 pct.

Volume in futures contracts on the FTSE 20 index totaled 19,695 contracts worth 238.747 million euros, with 26,133 open positions in the market, while on the FTSE 40 index, volume was 1,713 contracts worth 46.590 million euros with 1,334 open positions.

Volume in futures contracts on equities totaled 36,328 contracts worth 26.258 million euros, with investment interest focusing on PPC's contracts (7,043), followed by OTE (2,618), Piraeus Bank (807), National Bank (1,814), Alpha Bank (2,125), Intracom (2,884), ATEbank (1,075), Mytilineos (1,186) and Motor Oil (995).

Volume in stock repos totaled 5,360 contracts and in reverse stock repos 6,266 contracts.

[32] Greek bond market closing report

The 10-year benchmark bond (July 20, 2016) was the most heavily traded security while the yield spread between the 10-year Greek and German bonds was 0.235 percent. The Greek bond yielded 4.20 pct and the German Bund 3.97 pct.

In the domestic interbank market, interest rates were mixed. National Bank's overnight rate rose to 3.59 pct, from 3.57 pct on Tuesday, the two-day rate was 3.58 pct, the one-month rate rose to 3.75 pct from 3.74 pct and the 12-month rate fell to 4.05 pct from 4.08 pct.

[33] Foreign Exchange Rates - Thursday

U.S. dollar 1.331

Pound sterling 0.679

Danish kroner 7.512

Swedish kroner 9.350

Japanese yen 157.7

Swiss franc 1.626

Norwegian kroner 8.185

Cyprus pound 0.584

Canadian dollar 1.554

Australian dollar 1.689

General News

[34] President Papoulias bestows honourary distinctions to personalities

"Some of you are being honoured for your contribution to the ideals of freedom and democracy, some for your contribution to culture and science and some, lastly, for actions of yours or a stance of life that constitutes an example or for your tangible love for Greece, either as its children abroad or as Greeks in the wider sense of the term," President Papoulias said in his address.

President Papoulias awarded the Great Cross of the Order of Honour to Yiannis Haralambopoulos (former deputy prime minister, former foreign minister and former defence minister) and the Great Cross of the Order of the Phoenix to Yiannis Varvitsiotis (the head of the ruling New Democracy party's Eurodeputies and former defence minister) and Petros Molyviatis (former foreign minister).

He also awarded the Supreme Brigade of the Order of Honour to, among others, General Mohammar Abdel Salam El Mahgoub, Egypt's Minister of State on Local Development issues and former governor of Alexandria, and to Valentina Ivanova Matvienko, governor of Saint Petersburg.

Lastly, Michael Bilirakis, former Congressman of the State of Florida, was given the Supreme Brigade of the Order of the Phoenix, and Patrick Leigh Fermour, a national resistance fighter and writer, received the Brigade of the Order of the Phoenix.

[35] Papoulias receives St. Petersburg governor

Matvienko, who served as Russia's ambassador to Greece from 1997-1998, spoke with great warmth about the time she had spent in Greece, saying it was "unforgettable".

"I have the fondest memories from the years when I was an ambassador here," she said, underlining her love for the country.

[36] Rare 17th century icon identified

Culture Minister George Voulgarakis on Wednesday said the icon is unique and not registered in official catalogues, whereas it is preserved in good condition because it was displayed over recent years under a bullet-proof glass.

The icon comes from the region of Nafplio, a noted Medieval town in the eastern Peloponnese, and dates to 1646. It depicts St. John the Baptist standing and holding a lamb in his arms. The saint's image is also framed by 12 miniature scenes of his life.

According to art experts, the signature of the painter was covered when the icon was cased in silver back in 1760. The name of the artist was revealed when the silver case was removed to restorate the icon.

The Cretan School is a noted school of painting, flourishing in the 16th and 17th centuries in Venetian-ruled Crete. The artists that were influenced by this style, including El Greco, developed a particular style of iconography blending both eastern and western traditions and artistic movements.

[37] Public works minister on dangerous refuse treatment

"The National Plan comes to implement the basic principle that the cost of treating dangerous refuse is undertaken by the producer himself, meaning that the principle implemented is 'he who pollutes pays' and is approved as part of the imple-mentation of directive 91/689/EK," the minister said.

Souflias said that it will be revised every five years and, among others, serves the following goals:

The development of infrastructures and methods of utilising dangerous refuse so that the second stage materials market can be developed gradually by the utilisation of this refuse, as well as the production of energy from dangerous refuse, and the promotion of methods for the safe processing of dangerous refuse, wherever possible, that lead to an effective decrease of the pollutant burden and of the dangerousness of refuse in general.

According to current data, about 330,000 tons of dangerous refuse are produced annually in Greece, of which a percentage in the region of 62 percent is subjected to sale processes and the rest to utilisation processes.

The country has also stored about 600,000 tons of dangerous refuse, mainly in their places of production (industry).

The origin of dangerous refuse lies mainly in industrial activities.

[38] Athens pays tribute to literary figure

'Fifty years ago today, the people of Athens, the entire nation, bid farewell to our beloved poet Kostis Palamas,' Kaklamanis said.

The mayor of Athens added that 'today, on the anniversary of this historic moment, we have gathered here today to pay our respects to the man who contributed so much to the memory of Palamas, but also to Greek literature and the land as a whole and he is none other than George Katsimbalis.'

The bust of George Katsimbalis was created by prominent sculptor Constantine Paleologos.

Katsimbalis inspired the great author Henry Miller, 'who proclaimed Katsimbalis the Colossus of Maroussi in the book of the same name. Miller ensured that Katsimbalis was remembered posthumously," as Kaklamanis said.

[39] Four light earthquakes jolt Halkidiki, no damage reported

According to the Thessaloniki Aristotelion University's Geophysics Laboratory, a light earthquake measuring 4.6 on the Richter scale, the first and strongest of the string of quakes, was recorded at 2:25 a.m., with its epicentre in the sea area 120 kilometres southeast of Thessaloniki at a small distance of the coast of Sykia, Sithonia. It was followed by two more light earthquake measuring 4.0R at 3:33 a.m. and 4.2R at 6:20 a.m., and a minor quake measuring 3.3R at 7:02 a.m., all from the same epicentre.

The earthquakes were felt throughout all of Halkidiki prefecture, causing concern among residents.

Aristotelion University seismologist Manolis Skordilis told ANA-MPA on Wednesday morning that the seismic development thus far was normal, and opined that it was due to a minor local quake fault that was unrelated to the Northern Aegean fault.

"The phenomenon is developing normally and the region is not characterised by high seismicity. Given the magnitudes, but also the distance, it is concluded that these tremors are not related to the Northern Aegean fault," Skordilis said.

[40] Police announce arrest of man in international card-cloning ring

They said the arrest was made on Monday night, when the man was caught trying to withdraw money from a cashpoint machine (ATM) using a non-compatible, 'cloned' card. On the same night, the man is suspected of having illegally withdrawn roughly 3,100 euros from seven other ATMs around the city.

He was found to be carrying another 58 cloned cards on him at the time of his arrest, a CB radio and four receipts for cash withdrawals.

In a search of his apartment in Larissa, police also found a laptop and three USB memory sticks, another seven cloned cards and 350 euros.

The suspect apparently arrived in Trikala before Christmas, at which time a police investigation was launched after a number of tampered cards were withheld by cashpoint machines. According to police, the cashcards had been cloned abroad.

An ongoing investigation has put police on the trail of another three suspects that belong to the ring, which they hope to dismantle completely with the help of central police services and the union of Greek banks.

[41] Road death statistics

According to the figures released by the National Statistical Service of Greece (ESYE), road accidents in December 2006 dropped 8.1 percent, road accident-related deaths increased 6.5 percent, the serious injuries recorded a decline of 20.5 percent and lighter injuries dropped 8.6 percent compared to December 2005.

[42] Two foreign nationals arrested for theft, burglary

Police attribute the thefts to a criminal gang with a varying and unknown number of members, while they have launched a manhunt for a third man suspected of being an accomplice of the two already in custody.

The culprits are accused of entering houses in the early hours of the morning when the residents were asleep and removing money, electronic goods, mobile phones and other valuables, as well as taking the owners' cars for use as getaway vehicles.

Eight such burglaries have been reported in the last two months, four of which were carried out in the Kalyvia district in one night.

Police believe the suspects squandered the money, using it to gamble at the casinos in Parnitha and Loutraki, while they are also suspected of taking part in several more robberies in northern Athens suburbs.

[43] Foreign nationals arrested for robbery

The 26-year-old fugitive and his accomplices attacked their victim with a sharp instrument slightly injuring him in the legs and shoulder before removing a gold bracelet and a cell phone.

[44] Month-long abuse blamed for man's death; five arrests made

The man died on Feb. 18 in Thessaloniki shortly after being released by his abductors. He was reportedly beaten repeatedly by the five men in order to reveal where he had hidden 40,000 euros allegedly stolen from a 70-year-old.

The latter, along with four accomplices, allegedly abducted the victim and a 35-year-old friend.

Police, acting on a tip-off, arrested all five.

[45] Man arrested for attempting to set a woman afire

According to police, the man doused the victim with gasoline and tried to set her on fire but failed because his lighter wouldn't work.

[46] Hooded individuals rob PC store in downtown Athens

Three of the assailants, one brandishing a handgun and two holding petrol bombs, stood at the entrance and the rest stormed inside the store and snatched 21 personal computers before taking off toward the Exarchia Square.

[47] Illegal migrants intercepted on Samos

A search is underway for the arrest of a Turkish migrant smuggler who reportedly transported the illegals from the opposite Asia Minor coast to the shores of Samos.

In focusing on the problem on the specific island, authorities Wednesday said the number of illegal migrants intercepted on Samos in 2006 was four times higher compared to 2005.

[48] Weather forecast: Overcast on Thursday

Cyprus Affairs

[49] Cyprus and France sign defence cooperation agreement

Cyprus and France signed on Wednesday an agreement for Defence Cooperation between the two countries.

The agreement was signed at the French Ministry of Foreign Affairs by Cypriot Minister of Foreign Affairs George Lillikas and French Minister of Defence Michele Alliot-Marie and is part of a common statement to strengthen bilateral relations within the framework of a structured dialogue that was announced during Cypriot President Tassos Papadopoulos' visit to France in November 2005.

In statements after the signing ceremony, Alliot-Marie said that "it is an agreement which will allow relations to strengthen between the two ministries."

''It provides for greater exchange in training issues, on the level of joint maneuvers, when analysing the geostrategic situation. It is a continuation of the existing relations. We are faced with common dangers, such as terrorism, which concerns all European countries and which we might handle," the French minister remarked.

She added that this agreement will help France have sea protection, protection against illegal immigration, which is ''one of our most important problems, as well as protection against illegal trade."

Asked if Cyprus' geographical position was an element in signing the agreement, Alliot-Marie said that one of the elements was the fact that the Republic of Cyprus welcomed French soldiers during the Lebanon crisis.

"When our ships and planes had to intervene to evacuate French nationals, Europeans and Lebanese, we greatly appreciated the fact that the Republic of Cyprus immediately made available the necessary infrastructure. This situation was one in which we saw military cooperation between the two countries increase. This speeded up the signing of the agreement. It is an ordinary agreement which we have with many other countries but did not have with Cyprus," she added.

She said that the agreement provides for training and exchanges which aim at tackling the dangers which might arise.

Lillikas expressed his satisfaction, noting it is a natural development of everything that was agreed during President Papadopoulos' visit and his meeting with President Jacques Chirac to develop relations between the two countries on the basis of a structured dialogue.

"France and Cyprus have always had excellent political relations, they have and share a common vision on international issues and now as EU partners have shown that with their approach they can contribute to peace in the Middle East," the Cypriot minister said, according to an official press release.

"The crisis in Lebanon gave both countries the chance to cooperate in the military field with benefits not only for both countries but mainly for Middle East countries," he said, adding, "I wish and hope that just as Cyprus proved to be a factor of stability in the Middle East region, the solution to the Cyprus problem and Cyprus' reunification will prove that Cyprus can, reunited, with the cooperation of all partners such as France, help in peace and stability in the region."

[50] Cyprus in contact with German EU presidency over trade with Turkish Cypriots

The Cypriot government is in a frequent communication and negotiation with the German Presidency of the EU concerning the issue of the so called direct trade between the Union and the Turkish Cypriot community, Government Spokesman Christo-doulos Pashiardis said here on Wednesday.

He said that "our effort and pursuit is to find a solution to this issue which will fully correspond and completely satisfy the affirmed aim of trade with the areas of the Republic of Cyprus which due to the invasion and occupation are not under the effective control of the Cypriot government."

Pashiardis said that the aim is economic unification which is a contributing factor in the reunification of Cyprus.

"That is the permanent and declared aim of the effort to economically strengthen the Turkish Cypriots and surely this aim clashes with the illegal pursuit of the Turkish side to politically upgrade the illegal regime," the spokesman added.

He further said the relevant regulation cannot possibly solidify and promote secessionist situations, and surely the solution of the issue should not undermine the sovereign rights of member states or divert international legality which is superior to community law.

"This is what we say and this is what we will insist on," the spokesman stressed.

Asked how Nicosia will react if decisions are taken without its consent, the spokesman said that "without us, no decision can be taken." He pointed out that a unanimous decision is required and the Republic of Cyprus will participate in this decision.

To a remark that Turkish Cypriot leader Mehmet Ali Talat is suggesting that the decision be taken by a majority, Pashiardis said that "it is not up to Mr. Talat to set the rules under which the EU works."

Cyprus, an EU member state, has been divided since 1974, when Turkey invaded and occupied its northern third.

[51] France confirms no progress on Turkey opening ports and airports to Cyprus

There has been no progress on the Turkish part concerning the opening of Turkish ports to Cypriot ships, according to the spokesman of the French ministry of foreign affairs.

According to the spokesman's statements on Tuesday, which were published on the French Ministry's website on Wednes-day, "things have not changed on the Turkish side."

He reminded that the European Council drew certain conclusions from Ankara's attitude having to do with the pace of negotiations with Turkey, deciding to freeze the negotiations on certain chapters.

"Unless something escaped my attention, I have not seen any breakthrough on the Turkish side which might cause the European Union to review its position," the spokesman stres-sed.

Obviously, if there were some positive movement on the Turkish side, then the European Council would act accordingly, he added.

Referring to Cypriot Minister of Foreign Affairs George Lilli-kas' meeting in Paris with his French counterpart Catherine Colonna, the spokesman said it will concentrate on the French-Cypriot relations and European matters in relation to the preparation of the European Council of March 8 and 9.

Cyprus, which joined the EU in May 2004, has been divided since 1974, when Turkey invaded and occupied its northern third.

Turkey, a country aspiring to become an EU member state, does not recognise the Republic of Cyprus and refuses to implement the EU-Turkey Customs Union Protocol, which provides for the opening of its ports and airports to Cyprus.

[52] Cyprus not worried Egypt will not keep agreement over oil exploration

Cyprus has no reason to be concerned that Egypt will not keep the agreement it has signed with the Republic for exploration and exploitation of possible oil and natural gas deposits in the sea south and west of the island, Government Spokesman Christodoulos Pashiardis said here Wednesday.

Replying to questions, the spokesman said "Egypt's position for full implementation of the agreement it has signed with the Republic of Cyprus remains firm."

Invited to comment on the intention of Turkish Minister of Foreign Affairs Abdullah Gul to meet in Ankara with his Egyptian counterpart to discuss the issue of oil explorations, Pashiardis said "our side has no reason to be concerned that Egypt will not keep the agreement it has signed with the Republic of Cyprus."

"On the contrary, we have every reason to believe, and we are absolutely certain, that the friendly country of Egypt will be consistent with the agreement it has signed with Cyprus," he concluded.

Cyprus, an EU member state since May 2004, has signed agree-ments for the delimitation of its Exclusive Economic Zone with Egypt and Lebanon. Turkey, which has been occupying 37% of Cyprus' territory since her invasion of the island in 1974, has reacted with threats as regards the government's intentions for exploration and exploitation of possible oil deposits or natural gas in the sea area off the island.

[53] Cyprus rejects Turkish allegations of 'rearmament efforts'

The aggressor accusing his victim of taking measures to defend itself constitutes the ultimate expression of provocation, stresses Cyprus' Permanent Representative to the UN Andreas Mavroyiannis in a letter rejecting Turkish allegations of "rearmament efforts" of the Republic of Cyprus.

In his letter to the United Nations addressed to the Secretary General, circulated on Wednesday as a document of the General Assembly, Mavroyiannis "rejects the deliberate and preposterous fabrications" contained in the letter of the illegal Turkish Cypriot regime of the occupied part of Cyprus, noting that it is yet another by-proxy attempt by Turkey to divert attention from its own responsibilities.

He further notes that Turkey has transformed the occupied areas into "one of the most densely militarized areas in the world", as stated in an earlier report of the Secretary-General, and has been constantly upgrading its military forces on the island.

Concluding, Mavroyiannis stresses that it is high time for the government of Turkey to take heed of both the call of the international community and the will of the Turkish Cypriots and the Greek Cypriots to build their common future on the basis of mutual trust, security and respect.

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