Athens News Agency: Daily News Bulletin in English, 11-03-01

Athens News Agency: Daily News Bulletin in English Directory - Previous Article - Next Article

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

CONTENTS

[01] Successful rescue operation for Greek nationals in Libya

[02] FM satisfied with mobilisation to evacuate foreign nat'ls from Libya

[03] President Papoulias meets with Dep. FM Dollis

[04] Papoutsis on illegal migration threat, upcoming visit to Turkey

[05] Event on 30 years of country's European course

[06] LAOS leader attacks gov't, PM over Memorandum

[07] Off-the-agenda debate on demographic problem postponed

[08] Noted composer Theodorakis details his 'Spitha' initiative to Thessaloniki audience

[09] National Bank rejects any aggressive moves

[10] Market watchdog focusing on banks' share trading

[11] Chryssohoidis at ISTAME event

[12] Birbili at Energy ministers council

[13] EIB pledges to continue funding of infrastructure projects in Greece

[14] Gov't measures against contribution evasion; lower work stamp threshold

[15] Sector work contracts awaiting labour minister's signature

[16] Culture minister visiting London

[17] Greek inflation slowed to 4.9 pct in Jan

[18] OTE announces measures to drastically cut costs

[19] Intracom Defense Electronics wins USD 2.2 mln contract for F-16 radar

[20] EFG Eurolife reports improved 2010 results

[21] J&P AVAX SA acquires 15% of Moreas SA

[22] Greek PPI up 7.3 pct in Jan

[23] Nights spent in Greek hotels down 2.3% in 2010, Eurostat

[24] Survey sees house prices in Athens decline

[25] Stocks end moderately lower

[26] Greek bond market closing report

[27] ADEX closing report

[28] Foreign Exchange rates - Tuesday

[29] Strong earthquake shakes southern Crete

[30] Protest 'archer' released after testimony to magistrate

[31] Drug probe nets 20 arrests on Rhodes

[32] Special Olympics athletes hosted in Alexandroupolis

[33] Highway giving way due to rain

[34] Rainy on Tuesday

[35] Traffic accidents up 3.7 percent in 2010, ELSTAT reports

[36] The Monday edition of Athens' dailies at a glance

[37] Leaders agree the talks will continue on the agreed UN basis Politics

[01] Successful rescue operation for Greek nationals in Libya

Speaking to a private radio station in Athens, opera-tion coordinator Deputy Foreign Minister Dimitris Dollis on Monday underlined Greece's sucessful handling of the crisis and its assistance to other countries in getting their own nationals out, especially China.

Three Hellenic Air Force transport aircraft and privately-owned ferryboats provided by Greek shipping companies participated in the rescue opera-tion that unfolded in five key Libyan cities, Tripoli, Sirte, Sabha, Benghazi and Gialo.

Cooperation with the German foreign ministry was close in the last phase of the operation when two German transport aircraft carried foreign workers, among them Greeks and Cypriots, from a company construction site in Gialo.

Dollis also referred to the transport of thousands of Chinese nationals from the strife-torn Libya to the southern Aegean island of Crete, underlining that the Chinese premier has expressed his gratitude to Prime Minister George Papandreou.

[02] FM satisfied with mobilisation to evacuate foreign nat'ls from Libya

He also noted that the weekend airlift of foreign nationals from the desert town of Gialou by the German air force was a product of direct coordination with Berlin, as the plane landed in Souda Bay, Crete. The operation was discussed last week with German Foreign Minister Guido Westerwelle. The latter also expressed his appreciation to the Greek side during a phone conversation with his Greek counterpart on Sunday.

Droutsas also warned of the dangers of a new wave of illegal immigration emanating from the troubled North Africa region, something he said Athens has underlined at the EU level. Along those lines, he said PM George Papandreou referred to the need for a revision of the Dublin II agreement during his visit last week to Berlin.

[03] President Papoulias meets with Dep. FM Dollis

In a meeting held at the Presidential Mansion in Athens, President Papoulias underlined that it was a difficult operation, a complex problem, and characterized the endeavour as "major success".

On his part, Dollis referred to the difficulties of the operation and praised the foreign ministry and the Hellenic Air Force staff for their work.

[04] Papoutsis on illegal migration threat, upcoming visit to Turkey

The minister also touched on his visit to Turkey on Tuesday and closely watched talks with his Turkish counterpart, Turkey's interior minister.

"The issues we have to discuss are the strengthening of cooperation in the sector of border security, dealing with the trafficking of illegal immigrants and of the rings that mainly traffic migrants and exploit their hope for better life, along with implementation of a bilateral protocol agreement regarding (migrants') re-admission," the minister said.

Speaking at an EU council of ministers last week, Papoutsis said an EU-Turkey agreement on the readmission of illegal migrants was adopted, foreseeing Turkish participation in a joint European effort to combat illegal immigration.

Referring to the situation at the western ports of Igoumenitsa and Patras due to the large numbers of illegal migrants camped out around the ports in hopes of stowing away aboard Italy-bound ferry boats, he said:

"It is a situation that we are experiencing with heightened concern, given that Greece is obliged to observe very strict rules for guarding the EU borders, because it is our obligation towards the Schengen Pact and the European Union."

He added that "if for whatever reason we appear flexible and allow migrants to leave by turning a 'blind eye', this will automatically mean Greece's expulsion from the Schengen Pact, something our people will not tolerate."

As regards the 250-plus North African migrants on a hunger strike in central Athens, the minister said "it is absolutely reasonable for all of us to be concerned, because we must not forget that in our society what is most valuable of all is human life. From then on, however, there are laws of the country. Greece does not have the right nor does it intend to proceed with the mass legalisation of (illegal) migrants. It is not allowed by the legal and the European framework in which we are bound."

[05] Event on 30 years of country's European course

The Greek commissioner stressed in her address that for Greece "it is not permissible for it to live beyond its forces," adding that "when this truth becomes a personal truth of each of us, then we shall have won the game."

Eurodeputy Lambrinidis (PASOK) said that "the entire EU lived above its possibilities," since "we used to consume more than we could, while other countries sold more than they used to."

Xenoyiannakopoulou stressed on her part that the EU's crucial impending decision "must be an overall one, provide stability to the eurozone, adequacy of resources and flexibility in markets."

[06] LAOS leader attacks gov't, PM over Memorandum

Speaking to the radio station Real FM, Karatzaferis also strenuously denied rumours that he was in secret talks with main opposition New Democracy about possible cooperation at the next elections. According to the rumours, LAOS may not run independently but form an alliance with ND.

On whether such an alliance was possible, he said that it would depend on the timing of the elections and the conditions prevailing at that time. He forecast that the prime minister might well call elections before March 25 so that he might return from the EU with a "successful" outcome in terms of his goals and thus win.

Defending his own initial support for the Memorandum, meanwhile, Karatzaferis said that the failure was not that of the Memorandum but of the prime minister.

[07] Off-the-agenda debate on demographic problem postponed

The debate had been requested by Popular Orthodox Rally (LAOS) leader George Karatzaferis.

[08] Noted composer Theodorakis details his 'Spitha' initiative to Thessaloniki audience

Theodorakis told the large gathering of supporters that in case of snap elections, he favours voters casting a blank vote, while noting that "Greeks' reaction towards the measures promoted by the (EC-ECB-IMF) 'troika' must feature elements of a popular liberation struggle." The octogenarian composer also sharply criticised both main political parties in the country.

Financial News

[09] National Bank rejects any aggressive moves

"The essential thing is that Greek banks must present detailed report and to commit with the European Central Bank over ways to repay the liquidity offered by ECB. What is the way out of their dependence from ECB's help and from state guarantees. This is the new framework. It is here, in front of us. National Bank believes that the Greek credit system must take initiatives and to control its fate. To maintain its character as a strong regional force in Southeastern Europe, to maintain its wide network established in the wider region and not to sell its silverware. To protect the value of its shareholders, its workers and at the same time business activity in the country and to preserve its Greek origin," Tamvakakis said, adding that "decision centers must remain within the Greek borders. We deeply believe this is a matter of national importance".

The Greek banker added that National Bank has already taken initiatives towards this goal, by implementing a giant share capital increase plan, raising more than 3.0 billion euros, and with a friendly merger offer to Alpha Bank seeking to take advantage of the synergies that such a deal would have created.

Moody's Investors Service, in a report, said it expected National Bank to return with an aggressive move to buy Alpha Bank.

[10] Market watchdog focusing on banks' share trading

Alpha Bank finally rejected National Bank's merger proposal.

[11] Chryssohoidis at ISTAME event

"With institutional reforms that simplify procedures assisting the businessman in practice. With new rules for competition that clarify the scene and protect the consumer," the minister added.

[12] Birbili at Energy ministers council

Environment, Energy and Climatic Change Minister Tina Birbili, who jointly represented Greece at the European Union's Council of Energy Ministers with Deputy Minister Yiannis Maniatis, expressed support for an increase in the share of Renewable Energy Sources in energy consumption in Europe.

In her address, the minister referred to the plan on the conclusions text, of the European Council on March 25, 2011, stressing the need for the EU to be able to meet the energy challenges that it will be called on to handle in the near future in a productive and competittve way and with low carbon dioxide emissions.

Birbili further "supported the improvement of energy performance also through the enactment of binding targets, on conditions that will be agreed by the member-states," in parallel with "economic incentives that are being promoted both at national and European level."

She reminded the need for the energy connection of all the EU's regions, with emphasis on the islands, whose energy potential in renewable energy sources must constitute an object of further utilisation.

[13] EIB pledges to continue funding of infrastructure projects in Greece

Futures funding will include larger infrastructure projects, such as a new airport in Heraclion, Crete and expansion projects in the Thessaloniki metro and Attica Road. Energy projects will include energy production, such as an electricity production unit in Rhodes, with emphasis given to green energy projects, Sakellaris said, adding that energy projects will also include renewable energy sources, windpower and photovoltaic projects. EIB will also fund a wide range of smaller infrastructure projects -joint projects between public and private sector companies- in the fields of education, waste management, public administration and smaller energy projects.

[14] Gov't measures against contribution evasion; lower work stamp threshold

The move is made to help workers -- locals and immigrants alike -- to cope with crisis conditions, Alternate Labour Minister Giorgos Koutroumanis on Monday stated following a meeting he and Deputy Labour Minister Anna Dalara had with the General Confederation of Employees of Greece (GSEE) leadership focusing on the migration issue.

Koutroumanis stated that the aforementioned provisions will be included in the Labour Inspection Agency (SEPE) draft law to be tabled in parliament soon incorporating an EU directive and the imposition of fines on employers with uninsured employees.

"The draft law in preparation will spearhead our policy against unregistered labour and contribution evasion," Deputy Labour Minister Anna Dalara stressed, adding that it was based on relevant discussions already held with migrant social organizations and the Ombudsman office.

"Our efforts are focused on long-time employed migrants who are facing the risk of becoming marginalised," she stressed.

Responding to a question on the hunger-striking illegal migrants at the Hypatia street building in downtown Athens, she stated that those qualifying will have their requests met. She also left open the likelihood of a six-month extension to the deportation procedure, adding, however, that such a decision can only be made by the citizen protection ministry.

[15] Sector work contracts awaiting labour minister's signature

Referring to the roughly 40 sector work contracts waiting for her signature, Katseli stressed their signing is a matter of time in expectation of the appointment of a new ministry general secretary. The meeting also focused on the upgrading of the Supreme Labour Council's role to promote work peace and contribute to the normalization of relations between employers and employees.

On their part, the social partners, Hellenic Federation of Enterprises (SEV), Hellenic Confederation of Professionals Craftsmen and Merchants (GSEVEE), Association of Greek Tourism Enterprises (SETE), and National Confederation of Hellenic Commerce (ESEE) backed the minister's positions in favour of the council's reform.

It was underlined that healthy competition, as well as, companies and employees should be protected and that the sector work contracts will not abolished.

In statements made after the meeting, the General Confederation of Employees of Greece (GSEE) leadership urged the workers to proceed with the signing of sector collective work contracts.

[16] Culture minister visiting London

Greece's Culture and Tourism Minister Pavlos Geroulanos began a visit to London on Monday in order to promote Greece's tourism. He will have meetings with the UK's largest travel agencies and schedule press conference with the media. On Tuesday afternoon he is planning a press conference for Greek journalists in London.

[17] Greek inflation slowed to 4.9 pct in Jan

In Brussels, Eurostat announced that Greek inflation slowed to 4.9 pct in January, from 5.2 pct in December 2010. The inflation rate rose to 2.3 pct in the Eurozone, from 2.2 pct in December, while in the EU-27 the inflation rate was 2.7 pct in January, unchanged from December 2010. Ireland (0.2 pct), Sweden (1.4 pct) recorded the lowest inflation rates, while Romania (7.0 pct), Estonia (5.1 pct) and Greece (4.9 pct) recorded the highest inflation rates in January.

[18] OTE announces measures to drastically cut costs

The measures, to be implemented in two tranches - the first starting March 1 and the second on May 1- envisage raising work hours for staff, cutting over-time work, abolishing privileges and facilities and cutting 120 employees from mobile unit Cosmote's workforce.

The measures aim to cut OTE's operating costs by 32 million euros annually, and are characterised as necessary because of the economic crisis and in order to strengthen the company as it faces intense competition and regulatory challenges.

In an internal document sent to OTE's employees, Mihalis Tsamaz, chairman and chief executive of the group, painted a bleak picture of the situation due to the crisis, intense competition and stiffer regulation, resulting in a loss of more than 30,000 voice customers per month, a 10 pct decline in revenues and a 78.5-pct drop in profits last year.

Tsamaz said there is an urgent need to cut labour costs, currently at 35.3 pct of revenues, to 766 million euros in 2010. He underlined the need for investments in new generation networks, new technologies and products. The announcement led to a strong reaction by the OTE union.

[19] Intracom Defense Electronics wins USD 2.2 mln contract for F-16 radar

[20] EFG Eurolife reports improved 2010 results

Premium production of its life insurance business totaled 267.8 million euros in 2010, up 1.3 pct from 2009, while bancassurance activities grew 13.7 pct to 141.8 million euros. The life insurance business reported a pre-tax profit of 43.5 million euros, down 3.3 pct from 2009.

The general insurance business reported a premium production of 68.8 million euros last year, up 13.6 pct from 2009, while pre-tax profits totaled 22 million euros, up 23.5 pct.

EFG Eurolife said its equity capital more than covered the necessary credibility margins, reflecting the group's financial strength.

[21] J&P AVAX SA acquires 15% of Moreas SA

The total cost of acquiring the above shares was 25.6 million euro.

[22] Greek PPI up 7.3 pct in Jan

The statistics service, in a report, attributed this development to a 6.8 pct increase in the domestic market index and a 9.4 pct rise in the external market index. The producer price index rose 0.9 pct in January 2011 from December 2010, after an increase of 1.2 pct recorded in the corresponding period last year.

[23] Nights spent in Greek hotels down 2.3% in 2010, Eurostat

Nights spent in Greek hotels fell 2.3 pct last year compared with 2009, Eurostat said on Monday. The EU executive's statistics service, in a report published here, said nights spent in the EU 27 grew 2.8 pct last year, after two years of declines.

The report attributed the decline in hotel nights spent in Greece to lower demand by Greek residents (-10.8 pct), while demand by foreign tourists grew 0.8 pct. In 2010, 62.7 million nights spent in hotels, of which 16.4 million by Greek residents and 46.3 million by foreign residents. The biggest percentage decline in nights spent was recorded in January-April (-2.3 pct), followed by the May-August period (-1.8 pct) and the September-December period (-2.1 pct).

In 2010, 1.6 billion nights were spent in hotels and similar establishments in the EU27, an increase of 2.8% compared with 2009, after two successive annual declines of 0.3% in 2008 and 3.7% in 2009. In the EU27, the number of hotel nights spent by residents in their own country rose by 1.1% and hotel nights spent by non-residents grew by 5.1% in 2010. After the decrease in the number of hotel nights spent in the EU27 which began in the middle of 2008, peaked in January-April 2009 and then slowed down during the rest of 2009, there were first signs of a developing recovery in 2010. The number of hotel nights increased at an annual rate of 1.7% in January-April 2010 (compared with the same period of the previous year), of 2.6% in May-August and of 5.1% in September-December.

These estimates, which include nights spent whether for business or leisure, come from a publication2 from Eurostat, the statistical office of the European Union.

Highest increase in number of hotel nights in the Baltic countries and Malta

Among the Member States, the highest numbers of nights spent in hotels in 2010 were recorded in Spain (268 million nights, +6.4% compared with 2009), Italy (245 mln, -0.8%), Germany (229 mln, +5.8%), France (196 mln,

+2.4%) and the United Kingdom (166 mln, -2.1%). These five countries accounted for more than 70% of the total number of hotel nights spent in the EU27.

The number of nights spent in hotels in 2010 increased in most Member States, except for Romania (-8.7%), Greece (-2.3%), the United Kingdom (-2.1%), Slovenia (-1.0%) and Italy (-0.8%). The largest increases were recorded in Estonia (+14.1%), Latvia (+11.6%), Lithuania (+11.1%) and Malta (+11.0%), and the smallest in Austria (+2.2%), France (+2.4%), Cyprus (+3.1%) and Hungary (+3.3%).

Number of hotel nights spent by non-residents highest in Spain and Italy

In 2010, non-residents accounted for 45% of the total number of nights spent in hotels in the EU27 compared with 55% for residents. Apart from the two Mediterranean islands, Malta (95%) and Cyprus (90%), the highest proportions of non-residents were registered in Estonia and Latvia (both 75%), Greece (74%), Austria (72%) and Bulgaria (70%). The lowest proportions of non-residents were recorded in Romania (18%), Germany (21%), Sweden (23%), Finland (27%) and Poland (30%).

In 2010, the number of nights spent in hotels by non-residents rose in all Member States, with the largest increases in Estonia (+16.9%), Denmark (+14.9%) and the Netherlands (+13.4%). The highest numbers of hotel nights spent by non-residents were registered in Spain (155 mln, +8.9% compared with 2009), Italy (109 mln, +2.4%), France (66 mln, +3.0%), the United Kingdom (59 mln, +0.1%) and Austria (59 mln, +1.5%).

The majority of Member States also recorded a growth in the number of hotel nights spent by residents in 2010, with the largest increases in Poland (+11.8%), Latvia (+11.7%), Lithuania (+10.5%) and Belgium (+10.4%). The highest numbers of nights spent by residents in hotels were observed in Germany (180 mln, +4.3% compared with 2009), Italy (135 mln, -3.2%), France (130 mln, +2.1%), Spain (113 mln, +3.1%) and the United Kingdom (107 mln, -3.4%).

[24] Survey sees house prices in Athens decline

The decline is even greater in the more expensive areas, where house prices have tended to converge with those of areas having similar qualities, so that prices in upmarket Kolonaki have plummeted 15 percent and those in Nea and Kato Kifissia by 13 percent.

New developments are few and work on existing new buildings has slowed, with most buyers preferring older and smaller residences with lower purchase value compared with previous years.

There is a limited number of new houses in central Athens and purchases are going through only when the asking price drops considerably. Demand for older apartments has also declined because there is less interest from economic migrants relative to previous years. In most parts of central Athens prices have dropped between 2 percent and 9 percent.

There is still a large supply of unsold large houses in the northern suburbs, with prices falling most in Kifissia, Nea Erythraia, Geraka, Patima in Halandri, Nea Filothei in Marousi, Psyhiko and Filothei. Prices for newly built houses have declined between 4 percent and 10 percent in relation to 2009.

[25] Stocks end moderately lower

Cyprus Bank (8.5 pct), OTE (3.33 pct), OPAP (2.58 pct) and Coca-Cola 3E (1.96 pct) were top gainers among blue chip stocks, while MIG (4.35 pct), Hellenic Postbank (4.23 pct) and Marfin Popular Bank (3.81 pct).

Broadly, decliners led advancers by 118 to 40 with another 43 issues unchanged. Elbisco (10 pct), Druckfarben (8.70 pct), Technical Publications (7.89 pct) were top gainers, while Euroholdings (16.67 pct), Paperpack (14.81 pct) and Envitec (10 pct) were top losers.

Sector indices ended as follows:

Insurance: -1.05%

Industrials: -0.78%

Commercial: -0.41%

Construction: -0.79%

Media: -5.40%

Oil & Gas: -0.89%

Personal & Household: -0.06%

Raw Materials: -2.89%

Travel & Leisure: +2.22%

Technology: -3.25%

Telecoms: +3.33%

Banks: -2.55%

Food & Beverages: +1.84%

Health: -4.41%

Utilities: -1.63%

Chemicals: -0.40%

Financial Services: -1.34%

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

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

Alpha Bank: 4.80

ATEbank: 0.77

Public Power Corp (PPC): 11.21

HBC Coca Cola: 19.74

Hellenic Petroleum: 7.41

National Bank of Greece: 6.78

EFG Eurobank Ergasias: 4.64

OPAP: 15.13

OTE: 7.45

Bank of Piraeus: 1.65

Titan: 16.25

[26] Greek bond market closing report

Turnover in the market was a low 30 million euros, while the three-year benchmark bond was the most heavily traded security with a turnover of 6.0 million euros.

In interbank markets, interest rates were largely unchanged. The 12-month rate was 1.76 pct, the six-month rate was 1.37 pct, the three-month was 1.09 pct and the one-month rate 0.86 pct.

[27] ADEX closing report

Volume in futures contracts on equities totaled 24,700 contracts worth 12.487 million euros, with investment interest focusing on National Bank's contracts (5,807), followed by Eurobank (1,099), MIG (934), OTE (2,220), Piraeus Bank (1,590), Alpha Bank (2,922), Marfin Popular Bank (3,312), Cyprus Bank (1,550), Hellenic Postbank (1,222), OPAP (758), Mytilineos (714) and Hellenic Petroleum (565).

[28] Foreign Exchange rates - Tuesday

U.S. dollar 1.394

Pound sterling 0.859

Danish kroner 7.516

Swedish kroner 8.814

Japanese yen 114.17

Swiss franc 1.294

Norwegian kroner 7.770

Canadian dollar 1.364

Australian dollar 1.371

General News

[29] Strong earthquake shakes southern Crete

According to the Geodynamic Institute of the National Observatory in Athens and the Geophysics Laboratory at the Thessaloniki University, the epicentre of the quake was 368 kilometres south southeast of Athens and 25 kilometres southwest of Lasithi in the Ierapetra region. It follows an earlier earthquake measuring 4.2 on the Richter scale that occurred in roughly the same region on February 23.

There were no reports of damages.

[30] Protest 'archer' released after testimony to magistrate

He was released on condition that he does not leave the country and is required to report to a police station at regular intervals.

The suspect denied having an axe, saying that this had been "added" to the evidence supposedly confiscated on his person by police, and claimed that the bow was a fake and not capable of causing any harm. He also claimed that he had carried the bow for symbolic reasons.

[31] Drug probe nets 20 arrests on Rhodes

Nineteen residences were also search, in the presence of prosecutors, during the operation, which uncovered an unspecified amount of heroin and cocaine, police said.

The suspects ranged in ages from 26 to 71 years old.

Authorities believe ring is masterminded by a gang of prison inmates.

According to reports, suspects used the courtyard in front of the island's largest detoxification centre as a more-or-less outdoor "bazaar" to sell narcotics to users.

[32] Special Olympics athletes hosted in Alexandroupolis

Alexandroupolis is participating in the "Host Town Programme" (Polis Amphitrion).

A total of 7,633 athletes from 185 countries, accompanied by roughly 40,000 family members and 2,500 coaches, have registered to compete in the Games.

[33] Highway giving way due to rain

They said the phenomenon was being closely watched and road signs put up to warn drivers. The construction company building a new road for the region has been instructed to quickly create an access road so that, if the current highway subsides, the region of Messinia will not be cut off.

Weather Forecast

[34] Rainy on Tuesday

[35] Traffic accidents up 3.7 percent in 2010, ELSTAT reports

The total number of such accidents in the month came to 1,171 and resulted in 110 deaths (a 10 percent increase relative to 2009), 108 serious injuries (14.9 percent increase relative to 2009) and 1,291 lighter injuries (0.8 percent increase relative to 2009).

[36] The Monday edition of Athens' dailies at a glance

ADESMEFTOS TYPOS: "Clean-up of public sector, municipalities; 30 percent of institutional positions being abolished!"

AVRIANI: "Fast ? crack with immediate return to drachma".

ELEFTHEROS: "Sleaze by George (Papandreou, the PM), he had chained Greece (to IMF memorandum) before elections."

ELEFTHEROS TYPOS: "Conclusive end to bonuses for civil servants".

ELEFTHEROTYPIA: "Gov't: Cut salaries now by 20 percent".

ESTIA: "Rudderless governance (in country)".

ETHNOS: "Burning fuel prices for households, businesses".

IMERISSIA: "ECB pressuring (Greek) banks for return of 35 billion euros".

NAFTEMPORIKI: "Euro-zone's most crucial month ever begins".

TA NEA: "Union demands property confiscation of business owners employing undeclared workers".

VRADYNI: "Lay-offs in public sector and end to sector-wide collective bargaining agreements".

Cyprus Affairs

[37] Leaders agree the talks will continue on the agreed UN basis

"The direct negotiations are being conducted on the agreed basis of the UN", Cyprus President Demetris Christofias has stressed on Monday.

Speaking at the Presidential Palace, on his return from the negotiations, at the Chief of Mission's residence in the United Nations Protected Area of Nicosia, Christofias said that along with Dervis Eroglu, they have clarified that they are talking about a federation and not a confederation, as regards the solution of the Cyprus problem.

UN Secretary General's Special Adviser on Cyprus Alexander Downer, speaking after the meeting, said that the leaders had a good and long discussion Monday for around two and a half hours and it was a good opportunity for them to talk about a range of issues.

"They did have a discussion about the basis of the negotiations and both leaders agreed that the talks would continue on the agreed United Nations basis", he said and added: "All chapters are being negotiated with the aim of increasing the points of convergence on the understanding that nothing is agreed until everything is agreed".

Downer also said that the leaders discussed procedural issues and that it was agreed that the next meeting of the Representatives will be on Wednesday, March 2 and the next meeting of the leaders will be at 1600 on Friday, March 4. At the next meeting, he said, the leaders will be discussing governance and power-sharing.

The leaders of the two communities in Cyprus, President of the Republic of Cyprus Demetris Christofias and Turkish Cypriot leader Dervis Eroglu are currently engaged in UN-led negotiations, with an aim to reunify the island.

36, TSOCHA ST. ATHENS 115 21 GREECE * TEL: 64.00.560-63 * FAX: 64.00.581-2 INTERNET ADDRESS: http://www.ana.gr * e-mail: anabul@ana gr * GENERAL DIRECTOR: ILIAS MATSIKAS

Athens News Agency: Daily News Bulletin in English Directory - Previous Article - Next Article