Athens News Agency: Daily News Bulletin in English, 07-07-12

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

CONTENTS

[01] PM and merchant marine minister discuss ferry, seaplane services

[02] Merchant marine ministry replies to PASOK

[03] Government comments on tampered exam results

[04] KKE's Papariga comments on tampered exam results

[05] Three fire-fighters killed, one injured in Rethymno, Crete

[06] President, minister, parties on Rethimno fire tragedy

[07] Administrative investigation ordered on Rethimno fire tragedy

[08] FM spokesman addresses Information and Public Diplomacy Service event

[09] Stylianidis holds talks on proposed Regional Development Centre in Thessaloniki

[10] Stylianidis meets new French ambassador to Athens

[11] Roussopoulos refers to media bill at Panteion University awards

[12] Privatisations part of government programme, spokesman stresses

[13] Antonaros on areas protected by environment ministry

[14] Antonaros on the "Sea Diamond" shipwreck

[15] PASOK party spokesman on party agenda, elections

[16] Papariga calls on voters to 'weaken two-party system'

[17] Alavanos criticised government over Parnitha

[18] West Attica prefect blames Parnitha fire on negligence, lack of funds

[19] Greece to adhere to EU budget agreement, FinMin says

[20] PASOK, Coalition parties comment on FinMin's statements

[21] Bank of Greece governor satisfied with strength of Greek banks

[22] Value of unpaid bills and cheques fell by 40 pct in Jan-May, yr/yr

[23] Over 3,500 overseas Greeks coming this summer in framework of hospitality programmes

[24] European Commission approves participation of state funding in Thessaloniki undersea tunnel construction

[25] Greece's 13 research centres join forces in joint Forum

[26] Minister, local authorities discuss railway extension to Lavrio

[27] Greek newspapers and magazines raised their share in domestic ad revenue market in 2006

[28] Citibank expands branch network in Greece

[29] 9th Annual 'Marine Money' Greek Ship Finance Forum in October

[30] Greek stocks continued losing ground

[31] ADEX closing report

[32] Greek bond market closing report

[33] Foreign Exchange Rates - Thursday

[34] Electronic system failure blamed for bus accident in Athens

[35] Two forest fires reported west of Lamia

[36] Escape vehicle used in Hania robbery found abandoned

[37] Cannabis grower arrested in Kilkis

[38] Cooler on Thursday

[39] The Wednesday edition of Athens' dailies at a glance

[40] The date of Papadopoulos-Talat encounter to be decided Thursday

[01] PM and merchant marine minister discuss ferry, seaplane services

After the meeting, Kefaloyiannis announced that the draft law on the rights of ferryboat and seaplane passengers will be tabled in parliament soon.

Kefaloyannis also briefed the prime minister on issues concerning ferry services.

The minister said that the three seaports in the Attica prefecture are ready for the estimated 7 million tourists, Greek and foreigners, expected during the summer months, adding that 2.5 million passengers have already used 10,000 ferryboat routes.

He also noted that the port of Piraeus has been upgraded, reflecting Greece's high level tourist product.

Commenting on their meeting, main opposition PASOK MP Christos Papoutsis stressed that passengers had already felt the results of New Democracy's policies on domestic ferry shipping, which had resulted in delays and greatly increased fares.

"Three and a half years of New Democracy government have had a very clear result: ferry shipping companies are doing whatever they like in the Aegean. The government has completely lost control. Shipping companies are putting their ships where they want, charging whatever they want and using ferry routes when they want and when it's in their interest," he said.

[02] Merchant marine ministry replies to PASOK

"The main opposition party and its cadres, who led our coastal shipping communications to disdain during PASOK's lost 20-year period for insular Greece, are trying to counter-attack," an announcement by the ministry said.

The announcement said, among other things, that "those who set up the monopolies and the stock exchange games in coastal shipping, those who led to collapse every modernising effort in coastal shipping must be very careful and modest."

[03] Government comments on tampered exam results

"The important thing is that the State deal with such phenomena with conditions of transparency, directness and efficiency, for the benefit of the social whole," he said.

Antonaros was replying to press comments, according to which the government "appeared unable to guarantee" that the exam system could not be compromised.

The spokesman pointed out that the reaction of the education ministry had been immediate, with an initial announcement by the ministry general secretary and one on Tuesday by the ministry.

He also criticised what he called attempts by main opposition PASOK to exploit the affair for "petty party-political ends", stressing that this would not benefit the main opposition party nor undermine the prestige of the examinations.

Asked to comment on PASOK claims of an attempted cover up, the spokesman stressed that the announcement issued by education ministry general secretary Andreas Karamanos "indisputably demonstrates how quickly and effectively the education ministry dealt with this issue".

Regarding the possibility that similar incidents may have occurred at other times but gone unreported, Antonaros replied that the case was now being investigated by judicial authorities and stressed that no other similar case had ever been reported.

"This was an isolated incident that concerned just one subject and one examining unit," he added.

Speaking to reporters on Wednesday, the ministry general secretary stressed that the incident was confined to the 33 exam papers in question, which would be marked from scratch, while he disagreed with calls to remark all 528 papers that had been sent back for remarking under the examination process.

"The phenomenon is isolated. It concerns 33 papers and no others. The procedures followed by the education ministry are in accordance with the law. The papers will be marked from scratch by examiners that were not involved in the previous procedure," Karamanos said.

He accused those calling for the remarking of all 528 papers of undermining the prestige of the examinations.

"We all know that when there is a difference between the first and second examiner that is greater than a certain range, then these are remarked. This is in every way according to the law," he said, adding that not all the cases could be treated in the same way.

He also stressed that the suspect cases concerned those where the papers themselves had been tampered with.

"They were papers where the marks of all three examiners were open and, in a very few cases, where the names of the candidates had also been uncovered. This was the violation for the specific 33 papers," he said.

Regarding differences of opinion by Constitutional experts on the process that should be followed, Karamanos said the ministry had been guided by its own legal advisors.

"Any constitutional expert can have an opinion 'a', others constitutional experts might have an opinion 'b' and any court can then have an opinion 'c'. That a constitutional expert has an opinion a or b means nothing to the education ministry, which took the right steps based on the advice from its legal service," he said.

He also stressed that the nationwide examinations as an institution were not at risk, and that speculation about widespread problems in other exams were not based in fact, pointing out that the charges pressed by the public prosecutor in the case were based on evidence provided by the ministry that had emerged from its internal inquiry into the affair.

Karamanos also predicted that there results for the English exam would be out very soon and that an extension for submission of university applications forms might be given if necessary.

A Thessaloniki public prosecutor on Tuesday pressed charges against eight examiners, a school advisor and the head of a Thessaloniki marking centre after a sworn internal inquiry revealed that the results in 33 exam papers submitted by students for English had been tampered with by examiners acting on orders to give the specific students higher marks.

[04] KKE's Papariga comments on tampered exam results

Papariga characterized the re-grading as a "sad event" and stressed that the overall examination system was unacceptable.

Regarding elections, she stated that the two major political parties support the same measures while labor relations will suffer new upsets after the elections in addition to privatizations, austerity measures and new hikes in the cost of health services and education.

The two major political parties have accepted the restructuring and updating demanded by the European Union, stressed Papariga.

During her stay in Thessaloniki, the KKE general secretary is scheduled to visit the Hellenic Vehicle Industry SA (ELVO) plant and the Amstel bottling plant to hold meetings with management and personnel.

[05] Three fire-fighters killed, one injured in Rethymno, Crete

The tragic accident occurred shortly before 17:00, apparently due to very strong winds that were blowing in the area that rapidly drove the flames in their direction.

A force of 40 fire-fighters in 13 vehicles, a further 14 fire-fighters on foot and a helicopter are currently attempting to put out the fire, which continues to blaze in an inaccessible location in the area.

[06] President, minister, parties on Rethimno fire tragedy

"The thought of all of us is with their beloved ones and their colleague who is fighting against his burns," the President said in a message of condolences.

Public Order Minister Vyron Polydoras expressed his sadness over the deaths of the three firemen.

"Our grief is unbearable. We have always stressed the priority of security for the life of firefighters and citizens during training and operations," Polydoras said, adding that "we honour their sacrifice and the fallen as true heroes. We condole and stand by their families," Polydoras said.

Main opposition PASOK party spokesman Petros Efthymiou said on his part that "I wish to express the most profound sadness and grief that is gripping all of us over the loss of the lives of the three firemen in the fire in Rethimno and the injury of other colleagues of theirs."

He went on to say that "we express our warmest condolences to their relatives, their families and their colleagues and we wish to assure that the Greek people in their entirety honour the men and women who, as it is being proved, protect public goods by sacrificing their life. We shall always stand by, in every way all those protecting all of us with such sacrifice and the goods that we and our children want to have."

The Communist Party of Greece (KKE), the Coalition of the Left, Movements and Ecology (Synaspismos) and the General Confederation of Workers of Greece (GSEE) also expressed their "profound sadness" in relevant statements, asking at the same time the adoption of extra measures to protect the lives of firemen and to increase the firebrigade's capabilities.

[07] Administrative investigation ordered on Rethimno fire tragedy

Public Order Minister Vyron Polydoras and Fire Brigade Chief Andreas Kois left for Rethimno by helicopter immediately after the tragedy occurred.

According to a relevant announcement, the fire broke out in a forested area at 1:20 in the afternoon and 30 firemen, 11 vehicles, a helicopter, two firefighting aircraft and two eight-member groups of the special disaster EMAK unit were sent to the scene.

Meanwhile, Fire Brigade spokesman Yiannis Stamoulis publicised the identity of the three seasonal firemen who lost their lives in the fire in Rethimno and of their fourth colleague who sustained serious burns.

The names of the dead are Nikitas Koromilas, 34, Stylianos Markakis, 37, and Iraklis Tzanakis, 40.

The injured fireman is Emmanuel Manolitsakis, 37, who is being treated at a hospital in the city of Iraklio with burns covering 40 percent of his body, 25 percent of which are second degree burns.

[08] FM spokesman addresses Information and Public Diplomacy Service event

Foreign ministry spokesman, George Koumoutsakos, speaking before the event got under way, said that the Information and Public Diplomacy Service had a double mission.

"First of all, we want to highlight the foreign policy of Greece, a policy that is condensed in the triptych Stability, Security and Cooperation," he said, adding that "the strategic aim of our policy is to produce stability and security in a region including the Balkans, the Black Sea and the Middle East."

The second aim, Koumoutsakos went on to say to the representatives of the foreign press and of diplomatic missions, is "for us to get to know your countries better as well."

[09] Stylianidis holds talks on proposed Regional Development Centre in Thessaloniki

The Stability Pact of South Eastern Europe will be succeeded by the RCC in 2008 and will allow SE European countries to take over management of cases that concern them.

The Greek proposal for a regional development centre that will operate within the framework of the RCC was first put forward at the 10th South Eastern European Cooperation Process (SEECP) summit, where Biscevic was named as the RCC Secretary General and Sarajevo was chosen as its seat.

[10] Stylianidis meets new French ambassador to Athens

[11] Roussopoulos refers to media bill at Panteion University awards

"The law should be implemented. It is very important to establish a regulatory authority in a field that began operating 20 years ago," he said.

He was referring to legislation recently passed in Parliament concerning mass media licensing and concentration.

Roussopoulos noted that there had been other laws in the past, some of which had very important clauses supported by more than one political party in Parliament, but that these had not implemented.

[12] Privatisations part of government programme, spokesman stresses

"The government has specific positions that refer to privatisations and proceeded to carry out its commitments. Yesterday's privatisation was carried out with particularly great success," Antonaros stressed.

In response to other questions - which noted that ND had objected to privatisations carried out by the previous PASOK government - the spokesman said that the present government was carrying out pledges within a timeframe it had itself set, whereas its predecessor had been forced into them under the pressure of what later proved to be "creative accounting" and a rush to raise cash that would cover huge deficits created by its own reckless spending policies.

[13] Antonaros on areas protected by environment ministry

Responding to a question on the protection of other regions aside from the announced restoration of the burned section of the Mt. Parnitha forest, Antonaros stated that only nine regulations for the operation of the responsible authorities were approved until March 2004 whereas since then a total of 94 such regulations have been adopted by the current government.

In addition, 9 protected areas have been marked among them, Lake Karla, Mesolongi Lagoon, the Evros River Delta and the Amvrakikos wetlands, stated Antonaros, pointing out that 180-million-euro investments have been scheduled for the period 2007-2013.

[14] Antonaros on the "Sea Diamond" shipwreck

Those responsible have been fined with up to 2 million euros, a sum unprecedented in Greece, while 8,000 to 17,000-euro fines a day are being imposed until the sunken cruise ship's fuel is completely pumped out and the ship itself is pulled up from the bottom of the sea, he said.

A relative study is being co-funded by the ministries of merchant marine and environment to ensure that the specific salvage procedure will be promoted, stated Antonaros, while all necessary moves are being made to ensure that the shipowner and insurance companies will cover all shipwreck-related expenses.

Antonaros added that lawsuits will also be filed while all consequences suffered by the local community on Santorini as a result of the sea accident will be recorded in the effort to make sure that any damage inflicted on the environment will be repaired.

The alternate government spokesman also commented that the current merchant marine ministry leadership acted immediately, systematically and effectively in the case of the "Sea Diamond" accident as opposed to the previous government's reaction in the case of the tragic "Samina" shipwreck off the island of Paros a few years ago.

[15] PASOK party spokesman on party agenda, elections

Efthymiou further said that "at the same time, PASOK is exercising responsible opposition, as is also necessitated by its constitutional duty, as well as the nature of the policies of the (ruling) New Democracy (ND) party which are profoundly negative for the country and the Greek citizen."

Lastly, Efthymiou said that this is the "steadfast sailing course" of PASOK from which it will not deviate "until the Greek people give their own solution which will be the elections."

Also commenting further on the issue of elections, Efthymiou said that "as it is known, those who have no political position resort to oracles. It is evident that (Prime Minister Costas) Mr. Karamanlis has been a feather in the wind of political conjuncture over the past six months. Mr. Karamanlis has left the role of prime minister to his ministers. For this reason, every minister expresses in public sometimes the one and sometimes the other position on elections in such a way that Mr. Karamanlis has been replaced in a role that corresponds institutionally only to himelf. Mr. Karamanlis fears elections and for this reason he is talking of elections" and concluded by saying that "the only healthy solution is for us to go to the polls."

[16] Papariga calls on voters to 'weaken two-party system'

Speaking in Thessaloniki, where she had just begun a two-day tour, she also expressed her party's complete opposition to privatisations.

Papariga met the leadership of the staff union at a Hellenic Vehicle Industry SA (ELVO) plant, who briefed her on the company's prospects and expressed concern at the reduced production and shrinking numbers of workers. They asked for KKE's support in getting state to guarantee - as the company's main customer and strategic partner - the plant's turnover through contracts for both civilian and military vehicles for the country.

Papariga next visited the Amstel brewery, where she spoke with staff and asked them to support KKE in the next elections, even as a protest vote.

"The policies of New Democracy and PASOK are the same, the difference between them lies only in their political speech. The two parties must suffer losses because they bear grave responsibility for the problems of society. The counter-weight must be the KKE, without this meaning that those voting for us must necessarily completely agree with us," she said.

KKE's general secretary is due to speak at Aghios Therapontas in Toumba on Wednesday evening at 21:00, while on Thursday she is to meet the management and workers of the Thessaloniki water and drainage company EYATh and the mayor and municipal council of Polychni.

[17] Alavanos criticised government over Parnitha

"The president of the republic said the destruction of the Parnitha National Park was an occasion of national mourning. If so, then we can say that the New Democracy government is acting like a merry widow," Alavanos said in an attack on the government's stance.

He also strongly criticised Prime Minister Costas Karamanlis, saying he had failed to incorporate forests in his activities and was "absent from Parliament and absent for forests".

According to Alavanos, the government's policies were laying the foundations for the destruction of forests, either through attempts to scrap article 24 of the Constitution or a 2003 law that it inherited from the previous government of main opposition PASOK, which had placed all forest maps under dispute.

The party also expressed lack of confidence in government announcements, given past experiences with the rest of Attica's mountains after destructive fires and called for the creation of an independent environment ministry, as was the case in other European countries.

[18] West Attica prefect blames Parnitha fire on negligence, lack of funds

The prefect, who was elected on a ticket backed by main opposition PASOK, said the prefecture had done "everything humanly possible" to avert the disaster while addressing a meeting of the prefecture coordinating body.

"The prefecture did not get any money for fire protection measures in the area, despite the fact that in March it had pointed out the high risk for this year's summer and had initially asked for 810,000 euros and then, in April and May, a further 300,000 euros. On April 23 we were informed by the interior ministry that the prefecture is excluded from funding, while the municipalities of the area would finally be funded with 365,000 euros, a sum less than half what we asked for," he said.

He also outlined a series of measures that he said were necessary in order to protect the areas on the mountain from further attrition and to prevent soil erosion and flooding.

Proposals for fully restoring, protecting and promoting Parnitha, as well as other mountainous and forested regions in Attica, were also put forward by the Local Union of Municipalities and Communities of Attica (TEDKNA) on Wednesday in a letter to Environment Minister George Souflias and Attica Region chief Haralambos Maniatis.

TEDKNA's president Dimitris Kalogeroupoulos, mayor of Egaleo, proposed the signing of an agreement between the ministry, the regional authority and TEDKNA for the implementation of specific actions and measures, which included the reforestation of Mount Parnitha, Mount Penteli, Mount Poikilos and Mount Egaleo, fire protection measures and improved access for the public.

Financial News

[19] Greece to adhere to EU budget agreement, FinMin says

Speaking to reporters, the Greek minister added that the government needed to remain alerted to execute this year's budget and announced further measures to cut spending this year.

Alogoskoufis hailed a Eurogroup and ECOFIN decisions to accept Cyprus and Malta in the Eurozone, saying it was a very significant development since Eurozone was expanding in the Mediterranean region.

He noted that the ECOFIN council agreed that in the best economic case scenario member-states' fiscal deficits should be cut by more than 0.5 percent annually and said that EU member-states reaffirmed their commitment to present balanced budgets by 2010. The Greek minister also referred to the significant progress made by Greece in reducing its fiscal deficit, adding that the country still had a very big public debt with interest payment totaling 10 billion euros annually. "It is a very big problem and a top priority for the government," he said.

Alogoskoufis noted that social transfers, as a percentage of GDP, reached 18 percent in Greece, from 16.2 pct in the Eurozone, and that they expected to reach 18.4 pct in 2008. "We have the highest rate of social transfers but very low efficiency," he added.

Commenting on the placement of a 20 percent equity stake in Postal Savings Bank, Alogoskoufis said it was successful. "It is a significant step for privatizations, with the offering price reaching 18.10 euros per share, at the top range, while the placement was three times oversubscribed and the state will raise more than 500 million euros," he said.

The Greek minister stressed that the government's privatization program envisaged proceeds totaling 1.7 billion euros and noted that the program so far has fetched 1.632 billion euros.

The sale of an equity stake in Postal Savings Bank will help the bank and will bring more competition in the domestic banking system, while proceeds from the sale will help reducing the country's public debt. Alogoskoufis stressed that there will be no more privatizations this year.

The Greek minister dismissed talk of imposing higher taxes in the country.

[20] PASOK, Coalition parties comment on FinMin's statements

Referring to the remark made by Alogoskoufis that "the consistency of the policy of the New Democracy party is not identified with tax surprises, which belong to PASOK," Efthymiou termed what the minister said "political slander."

Efthymiou said that Alogoskoufis increased VAT from 18 percent to 19 percent and pointed out that "every time that the budget was not going well, Mr. Alogoskoufis increased and increases indirect taxes."

Lafazanis said on his part that "at a time when even the 'ultraconservative' President of France, Mr. Nicolas Sarkozy, doubted successfully for his country the decisions of ECOFIN on balanced budgets by 2010 in the eurozone member-states, Mr. George Alogoskoufis appeared 'more loyal than the loyal' in seeking the precise observation of the decisions of ECOFIN and their implementation in full for our country."

[21] Bank of Greece governor satisfied with strength of Greek banks

Addressing an event organized by the Hellenic-British Chamber on "International Credit System, Challenges and Prospects", the Greek central banker said that Greek banks' capital base ensured the stability of the system. This fact combined with a more effective risk management by commercial banks also ensured the sustainability of the strength of the banking system and the confidence of both investors and depositors.

Garganas said the Capital Adequacy Rate of Greek banks was satisfactory and significantly higher compared with minimum requirements of 8.0 percent, both in bank (13.3 pct) and banking groups (11.4 pct).

The central banker also noted positive developments in non-performing loans saying their rate was gradually reduced to 5.4 pct in the first quarter of 2007, from 5.4 pct in December. He noted, however, that the rate continued to be significantly higher compared with the EU-25 rate of 2.9 percent.

[22] Value of unpaid bills and cheques fell by 40 pct in Jan-May, yr/yr

The value of bounced cheques in the January-May period fell to 77.14 million euros, from 131.42 million euros last year, while the value of unpaid bills rose to 22.27 million euros from 21.52 million euros.

In May, the value of bounced cheques in Macedonia and Thrace fell by 46.7 percent to 13.07 million euros, although the biggest percentage decline was recorded in March (55.1 pct), followed by April (35.9 pct), February (34.9 pct) and January (29.1 pct).

[23] Over 3,500 overseas Greeks coming this summer in framework of hospitality programmes

More than 700 children of overseas Greeks, aged between 8 and 12, will be staying at camps of the foreign ministry's General Overseas Hellenism Secretariat in Malesina (in the prefecture of Fthiotida) and in Epanomi in Thessaloniki.

The programmes, that combine the children's recreation with Greek language lessons, traditional dances and songs and visits to archaeological and other sites, have already begun and the first arrivals of children started on Tuesday, to stay until July 31, while a second camping period will follow between August 1-20.

[24] European Commission approves participation of state funding in Thessaloniki undersea tunnel construction

The European Commission has approved the participation of Greek state funding in the construction of the undersea tunnel in Thessaloniki, Macedonia.

With its decision, the European Commission has decided not to raise objections regarding the awarding contract concluded by the Greek authorities on the construction of the undersea tunnel in Thessaloniki.

The contract includes state funding amounting to 96 million euros and the aim of the project is to decrease traffic congestion in the city's historic centre, by linking the densely populated southeastern metropolitan region with the financially robust northwestern region.

According to the Commission, the funding of this infrastructure with state resources is not subject to rules concerning state subsidies, provided that the project in question is a public commodity and is open to all users without discrimination.

[25] Greece's 13 research centres join forces in joint Forum

Officials of the 13 research centres recently sat together at the same table, for the first time, with the purpose of putting together in a single, lengthy study, the proposed research and technology priorities of the country. The proposals are contained in a lengthy volume titled "National Technological and Scientific Priorities (ETEP)", published at the initiative of the Conference of Presidents of the Research Centres of Greece, and was submitted a few days ago to development minister Dimitris Sioufas and Research and Technology secretary general Yannis Tsoukalas.

The study contains the proposals of all the research centres of Greece on the priorities that country must place in the research and science sector, in view of the National Strategic Reference Framework (NSRF) 2007-2013, while it also proposed the creation of national networks for the proposed ETEP.

Centre for Research and Technology Hellas-CERTH (in Greek, the EKETA National Research and Technological Development Centre) president Constantine Kyparissidis told ANA-MPA that the the study will soon be posted on a new website developed by the Forum (at www.researchcenters.gr) for public debate, and the target is that the study will serve as the basis for drafting the national strategy and agenda on research and development.

The public debate will run up to at least September, when the Forum plans to hold a major event on the issue that will aslo be attended by representatives of the Greek state.

Comprising the Forum are the Centre for Research and Technology Hellas (CERTH), the "Athena" Research and Innovation Centre, the Athens National Observatory, the Greek Atomic Energy Commission, the National Hellenic Research Foundation (NHRC), the Hellenic National Centre for Marine Research (HCMR), the National Centre for Social Research (EKKE), the "Demokritos" National Centre for Scientific Research (NCSR), the "Alexander Fleming" Biomedical Sciences Research Centre (BSRC), the Foundation for Research and Technology Hellas (FORTH), the Pasteur Institute, the Centre for Renewable Energy Sources (CRES), and the Thessaly Research, Technology and Development Centre.

The study covers 12 research and development fields: health and biology sciences, biotechnology-foods-agriculture-fisheries-aquaculture, information and communications technologies, nanotechnologies-operational materials-production methods, energy, environment-climate changes-ecosystems, transports-aircraft engineering, socio-economic sciences, technology-cultural heritage-tourism, safety, space, and life-long learning technologies.

[26] Minister, local authorities discuss railway extension to Lavrio

Those attending the meeting included the East Attica Prefect and the mayors of Lavrio, Markopoulo, Kalyvia, Keratea and Kouvaras.

Afterwards, Liapis said the initial studies regarding the project were now complete and a final study would be commissioned within the year with a view to holding a tender for the project within 2008. He said the extension was due to be completed by 2012, while funding had already been secured from the 4th Community Support Framework (CSF).

The new extension is planned to be 31km long, starting from the Koropi junction and largely following the route of the historical Lavrio railway line. Trains will be able to travel at a maximum speed of 120km per hour and journey times to Athens are expected to be 55 minutes. When complete, the Proastiakos railway will directly link the two largest ports in Attica - Lavrio and Piraeus - as well as Athens airport and the city centre.

Stations along its route are planned at Markopoulos, Kalyvia, Kouvaras, Keratea, Amphitropi and Paleokamariza, Thorikos. There will also be two stations within Lavrio, one near a future university campus and a second in the town centre, and a final stop at Lavrio port leading directly onto the passenger wharfs.

[27] Greek newspapers and magazines raised their share in domestic ad revenue market in 2006

Newspaper, however, recorded the biggest percentage gains last year with an increase of 19.3 percent in advertising revenues to 452.38 million euros, reflecting more competitive pricing policies and the public sector's focus to newspapers last year.

The renewed dynamism of newspapers and magazines is steadily shrinking advertising revenues for television stations, whose share fell to 33.9 pct of the market in 2006 from 56.5 percent in 1996. TV ad revenues rose by 1.1 percent to 793.55 million euros. Radio stations' advertizing revenues rose 4.8 pct last year to 119.36 million euros accounting of 5.1 percent of the market.

Advertizing revenues grew by 6.9 percent to 2.34 billion euros last year, slightly slower compared with a 7.4 pct growth rate in 2005 and around 14 percent in 2004 during the Athens Olympic Games.

Higher ad revenues for magazines and newspapers reflected the strategic policy by publishers to publish internationa titles in the Greek market. Based on a sample of 171 groups of newspaper, magazine and special magazine publishers showed that turnover rose 15.6 percent to 1.62 million euros last year, while EBITDA fell by 19 percent to 58 million euros with average EBITDA margin easing to 0.8 percent in 2006. Net results showed a loss of 5.8 million euros last year after profits of 43.4 percent in 2005.

[28] Citibank expands branch network in Greece

Stelios Pirpinias, Citibank's branch network director said the bank's business plan envisaged the opening of 17 branches this raising its branch network to 85.

Citibank began operations in Greece in 1964. It currently owns 74 branches and 236 ATMs around the country, employing more than 1,500 people.

[29] 9th Annual 'Marine Money' Greek Ship Finance Forum in October

The Greek Marine Money conference will provide attendants with up-to-the-minute insight into where the best deals can be done, and introduce them to the right people, according to the organisers.

The fact that shipping is still a "buzz word" in the capital markets was reaffirmed last month at the Marine Money Week in New York, which was attended by close to 800 delegates, with all the global players and finance providers represented, including most of the Greek listed shippig companies, the organisers said.

[30] Greek stocks continued losing ground

Most sectors suffered losses with the Chemicals (2.10 pct), Media (2.03 pct) and Oil (1.60 pct) suffering the heaviest percentage losses of the day, while the Insurance (1.35 pct), Telecoms (0.66 pct) and Financial Services (0.55 pct) scored gains.

The Big Cap index eased 0.02 pct, the Mid Cap index ended 0.66 pct lower and the Small Cap index fell 0.01 pct.

Aegean Airlines (22.37 pct on its debut in the market), Boutaris (10.53 pct) and Vis (9.93 pct) were top gainers, while Alapis (11.93 pct), Zampa (8.04 pct) and Autohellas (6.94 pct) were top losers.

Broadly, decliners led advancers by 172 to 95 with another 41 issues unchanged.

Sector indices ended as follows:

Insurance: +1.35%

Industrials: -1.40%

Commercial: -0.30%

Construction: +0.08%

Media: -2.03%

Oil & Gas: -1.60%

Personal & Household: -1.00%

Raw Materials: -0.74%

Travel & Leisure: -0.67%

Technology: +0.01%

Telecoms: +0.66%

Banks: +0.07%

Food & Beverages: -0.74%

Health: -0.19%

Utilities: +0.51%

Chemicals: -2.10%

Financial Services: +0.55%

The stocks with the highest turnover were Greek Postal Savings Bank, Aegean Airlines, National Bank and OTE.

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

Alpha Bank: 24.16

ATEbank: 3.90

Public Power Corp (PPC): 21.48

HBC Coca Cola: 33.10

Hellenic Petroleum: 11.72

Emporiki Bank: 20.82

National Bank of Greece: 43.78

EFG Eurobank Ergasias: 26.40

Intralot: 23.88

Cosmote: 22.80

OPAP: 26.40

OTE: 22.80

Titan Cement Company: 43.40

[31] ADEX closing report

The September contract on the FTSE 20 index was traded at a discount of 1.66 pct and the July contract on the FTSE 40 index at a discount of 0.14 pct.

Volume in futures contracts on the FTSE 20 index totaled 9,196 contracts worth 119.486 million euros, with 41,626 open positions in the market, while on the FTSE 40 index volume was 563 contracts worth 18.220 million euros, with 1,376 open positions.

Volume in futures contracts on equities totaled 9,788 contracts worth 19.543 million euros, with investment interest focusing on Marfin Popular Bank's contracts (2,025), followed by OTE (251), PPC (483), Piraeus Bank (661), National Bank (1,265), Alpha Bank (928), Intracom (801), Postal Savings Bank (704) and ATEbank (467).

[32] Greek bond market closing report

The 10-year benchmark bond (July 20, 2017) was again the most heavily traded security with a turnover of 796 million euros.

The yield spread between the 10-year Greek and German bonds was 0.22 percent, with the Greek bond yielding 4.82 pct and the German Bund 4.60 pct.

In the domestic interbank market, interest rates moved higher. National Bank's overnight rate was 4.08 pct, the two-day rate was 4.08 pct, the one-month rate 4.10 pct and the 12-month rate eased to 4.53 pct from 4.56 pct on Tuesday.

[33] Foreign Exchange Rates - Thursday

U.S. dollar 1.386

Pound sterling 0.682

Danish kroner 7.499

Swedish kroner 9.239

Japanese yen 168.73

Swiss franc 1.667

Norwegian kroner 8.029

Cyprus pound 0.588

Canadian dollar 1.468

Australian dollar 1.609

General News

[34] Electronic system failure blamed for bus accident in Athens

The driver was unable to stop the bus when its electronic system apparently failed. The bus's uncontrollable course ended when it crashed into a fence at a nearby park.

[35] Two forest fires reported west of Lamia

The first fire broke out shortly before 5 in the afternoon to the west of the village of Ladikou, near Ipati. According to initial reports, the fire spread quickly, fanned by strong westerly winds, and created a front of about two killometres in length in dense forestland.

While the fire was still raging in Ipati, a new front broke out six kilometres to the north, near the village of Styrfaka, and spread quickly in an easterly direction. It also spread into a gorge where sheepfolds were located and which were threatened by the fire for some time.

Reports at about 8 in the evening revealed that the fire in Ipati had been restricted to two smaller fronts, while the fire in Styrfaka was still raging out of control.

[36] Escape vehicle used in Hania robbery found abandoned

During the robbery carried out on Tuesday, the group of armed robbers had used two cars to ram the security van and force it off the road in Sfakia and, after taking a sack of money destined to replenish a cashpoint machine, had set fire to the security van and one of the cars while escaping in the jeep.

Police acting on a tip-off by an anonymous caller found the abandoned jeep damaged by fire as the robbers apparently had also set it alight so as to destroy any evidence that might lead to their capture.

[37] Cannabis grower arrested in Kilkis

The man was arrested after being caught watering the plants, which were later destroyed.

Weather forecast

[38] Cooler on Thursday

[39] The Wednesday edition of Athens' dailies at a glance

ADESMEFTOS TYPOS: "Overseas Greeks to vote in the elections after the next ones if the two/thirds of parliament MPs consent, based on article 51 of the Constitution".

APOGEVMATINI: "9,269 hirings - The job openings, qualifications and deadlines".

AVGHI: "The exam re-grading decision is groundless - Government attempt for a speedy closure to the English exam case".

AVRIANI: "New torpedo by (PASOK MP Theodoros) Pangalos with revelations on companies involved in illegitimate political dealings".

CHORA: "170-million-euro programme for 20,000 unemployed - Eligible are the 18-64 age group".

ELEFTHERI ORA: "Foreign Minister Dora Bakoyannis annoyed by the statements of the Greek ambassador in Skopje".

ELEFTHEROS: "Coalition of the Left and LAOS will not be represented in the next parliament - They will be unable to get more than 3 percent of the vote (required for winning a seat in the 300-member unicameral House)".

ELEFTHEROS TYPOS: "The forgery of the written exams - Penal charges filed".

ELEFTHEROTYPIA: "The written exam scandal step-by-step - Revelation: the re-grading confession".

ESTIA: "The government's big success - The reform work in the economy".

ETHNOS: "The findings were also tampered with - The ministry of education covers up the university entrance exam scandal".

KATHIMERINI: "Scientists issue warning after the fires in Parnitha - The effects of the disaster on the average temperature rise".

LOGOS: "New turn to the elections scenarios - The draft law on the voting rights of overseas Greeks to be tabled in parliament in the fall".

NIKI: "Penal charges in the exam tampering case".

RIZOSPASTIS: "The colpo grosso of the ND and PASOK governments - Burned forestlands named building grounds".

TA NEA: "Thermal bomb equalling 2.2 million private cars - Considerable temperature rise in the burned areas ".

TO VIMA: "Dye bomb in food - The EU to ban E128".

VRADYNI: "Initiative of national importance - The government calls for political party consensus on the absentee voting rights of overseas Greeks".

Cyprus Affairs

[40] The date of Papadopoulos-Talat encounter to be decided Thursday

The representatives of the leaders of the Greek Cypriot and the Turkish Cypriot communities, Tasos Tzionis and Rasit Pertev, will set Thursday the date of the leaders' meeting.

Tzionis and Pertev will meet on Thursday in the presence of UN Secretary General's special representative in Cyprus Michael Moller.

Government Spokesman Vasilis Palmas told reporters on Wednesday that the July 8, 2006 agreement provides for meetings between Tassos

Papadopoulos and Mehmet Ali Talat, but also that the ground should be prepared and the leaders to promote the issue.

"This is what will be discussed at tomorrow's (Thursday) meeting", Palmas said.

Palmas pledged the government will continue its efforts on the Cyprus problem until the end of its term and called on reporters not to associate the pre-election campaign with the Cyprus issue.

The spokesman added it is the president's duty and obligation to continue efforts until the very last day.

To a question that the government was stating that the key to the solution of the Cyprus problem is Ankara, Palmas repeated the same position, adding that Turkish Cypriots alone cannot take decisions.

"We say that the two leaders can make a contribution to the procedural part which is provided by the July 8 agreement", Palmas explained.

Papadopoulos and Talat had agreed to begin a process of bicommunal discussions on issues that affect the day-to-day life of the people and those that concern substantive issues.

Following the agreement, the representatives of the leaders of the Greek Cypriot and the Turkish Cypriot communities, began meetings in the UN-controlled buffer zone to work out the modalities for the implementation of the July agreement.

Talat has accepted an invitation from Cyprus President Papadopoulos to meet each other and discuss ways for a breakthrough in efforts for a solution to the long-standing Cyprus problem.

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

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