Athens News Agency: Daily News Bulletin in English, 16-02-26

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

CONTENTS

[01] PM Tsipras: Greece is implementing fully its commitments on the refugee crisis

[02] Alt. Migration minister 'pleased' with support received at EU meeting

[03] Greece will not become a warehouse of souls, says Migration Minister Mouzalas

[04] EU Commissioner Avramopoulos: EU's unity at risk; time of huge responsibility

[05] Greece recalls its ambassador in Austria

[06] Austria renews criticism of Greece's handling of refugee flows after Greek ambassador recalled

[07] Austria threatens Greece with expulsion from Schengen

[08] Defence minister announces creation of 5 more hotspots in northern Greece

[09] FM Kotzias has phone contact with Italian counterpart Gentiloni on refugees' issue

[10] European Commission 'working hard to avoid unilateral actions,' spokeswoman Natasha Bertaud says

[11] Procedures for rapid returns to Turkey exist, Netherlands Migration Minister Dijkhof tells ANA-MPA

[12] UNHCR chief: Refugees must be given alternative way to legally enter Europe

[13] Defence Minister: Refugees or migrants rescued by NATO will be sent back to Turkey

[14] 11 Greek warships participate in NATO's force in the Aegean

[15] ND spokesman: Refugees issue out of control

[16] NGO's try to secure passage of bus with vulnerable refugees into FYROM

[17] Only 100 refugees will be allowed to get into Fyrom on Thursday

[18] PM Tsipras to farmers: We must try to find solutions through dialogue

[19] PM's meeting with farmers in climate of mutual understanding, say gov't sources

[20] We discussed the tax-free issue, says farmers representative after meeting with PM Tsipras

[21] Farmers' movement benefited from labour action, says head of one union

[22] PM Tsipras to meet S&D head in Europarliament Pittella on Friday

[23] Opposition ND, Potami strongly criticise bill 'improvement' as contrary to Constitution

[24] Economy minister optimistic that institutions will return to Athens soon

[25] Institution mission chiefs to return to Athens next week, gov't source says

[26] Greek, Norwegian economy ministers discuss financing from EEA

[27] Environment ministry hits back at lawsuit threat from Eldorado Gold

[28] Public sector union ADEDY to participate in March 9th rally

[29] Greece is very close to exiting the crisis, Bank of Greece says

[30] Greek economy to return to positive growth rates in H2 2016, KEPE

[31] Fessas sounds alarm bell for Greek economy

[32] Bank credit to private sector at -2.1 pct in Jan

[33] NPLs grew to 43.6 pct in Sept, Bank of Greece says

[34] Greek inflation at -0.1 pct in Jan, Eurostat

[35] First shipment of Iranian crude expected at end March, Hellenic Petroleum says

[36] Hellenic Petroleum reports record-high EBITDA for 2015

[37] OTE Group says revenue up 2.0 pct in Q4 2015

[38] Jumbo says profits up 15.72 pct in H1

[39] Greek bank deposits down 1.2 bln euros in January

[40] ASE suspends trading in ELVAL

[41] Greek stocks end 2.05 pct higher

[42] Greek bond market closing report

[43] ADEX closing report

[44] Economic Forum opens on Friday in Delphi

[45] Four out of 10 Greeks don't know what a 'hotspot' is - poll

[46] Athens Bar Association expresses support for lawyer sued by top Court judge

[47] Greek lawyers extend their strike to March 4

[48] EC takes Greece to court over nitrate water pollution

[49] Four injured, six arrested in scuffle between Anderlecht and Olympiakos fans

[50] Additional four deaths raise toll from H1N1 flu to 136

[51] 1,352 refugees arrive at Piraeus port on Thursday

[52] Partly cloudy on Friday

[53] The Thursday edition of Athens' dailies at a glance Politics

[01] PM Tsipras: Greece is implementing fully its commitments on the refugee crisis

The prime minister also slammed the closing of the borders and the countries' refusal to share responsibilities, saying that such actions are completely anti-European and run contrary to the EU's founding values.

He continued to say that the EU states' inability to come to an understanding on the refugee issue will not only be fatal in tackling the problem, but will also lay the ground for the rise of the extreme-right and will deconstruct Europe as a whole.

Concerning NATO's presence in the Aegean, Tsipras said the organization will respect the country's sovereign rights, as well as the Geneva Convention.

[02] Alt. Migration minister 'pleased' with support received at EU meeting

Speaking after the meeting, Mouzalas said that Greece didn't ask for humanitarian help from Europe, but noted that Athens has drafted an emergency plan which has been submitted to the European Commission and the EU's Dutch Presidency.

He also said he told his counterparts that Austria's stance is unilateral, non-friendly and violates older decisions of EU summit meetings, adding that it hurts Greece by not giving it the time it needs to prepare. Mouzalas also said Austria's position is hurting the EU because it proposes national, unilateral solutions in cooperation with other countries (Visegrad 4), and states that are not EU member-states.

The minister also said Greece may go through some "tough times" in the next few days.

[03] Greece will not become a warehouse of souls, says Migration Minister Mouzalas

How much Europe is united, is the issue for Greece, stated on Thursday Greek Alternate Migration Minister Yiannis Mouzalas upon his arrival to the EU Interior Ministers meeting in Brussels

Mouzalas underlined the 'special' importance of Thursday's meeting saying that for Greece the huge issue is, if Europe is united or not and how is possible "Five police chiefs, among them and from countries outside EU, to change the decision of country leaders and governments ten hours after the EU Summit"

The second issue is really odd because it is related on how they will handle a humanitarian crisis in Greece "that the same persons are going to create".

Concluding, Mouzalas said that "Greece will not accept unilateral actions. Unilateral actions can also be applied and from Greece. Greece will not become a new Lebanon for Europe, a warehouse of souls, even if this is strongly financed.

[04] EU Commissioner Avramopoulos: EU's unity at risk; time of huge responsibility

"It is the moment of huge responsibility" stated European Commissioner for Migration Dimitris Avramopoulos upon his arrival to the EU Interior Ministers meeting on Thursday in Brussels.

The Greek Commissioner called 'crucial' the meeting and underlined that "EU's unity is at risk, human lives are in danger".

Avramopoulos said that "in the last months we have worked hard and took decisions. It is time for results. Lone initiatives lead nowhere. I hope and look forward that the ministers will respond collectively and united to my call. It is the time of great responsibility and time in not on our side anymore. Only ten days are left until March 7" said Avramopoulos.

[05] Greece recalls its ambassador in Austria

"It is clear that the major problems of the European Union cannot be confronted via thoughts, attitudes and extra-institutional initiatives that have their roots in the 19th century, and nor can the decisions of the heads of state be supplanted by directives from police directors. The latter is a major problem for democracy. It points to the need for the European Union to be protected from various parties who are ignorant of history," the announcement said.

"Unilateral initiatives for resolving the refugee crisis, along with violations of international law and the European acquis by member states of the EU, are practices that can undermine the foundations and process of European integration.

"Responsibility for dealing with the migration and refugee crisis cannot weigh on one country alone. Common sense dictates that effective handling of this complex problem should be governed by the principles of solidarity and fair burden sharing. Greece is working in such a direction," it concluded.

[06] Austria renews criticism of Greece's handling of refugee flows after Greek ambassador recalled

Responding to Athens' decision to recall the Greek ambassador to Vienna for "consultations", the Austrian foreign ministry on Thursday responded with renewed criticism of Greece and its handling of refugee flows toward northern European countries.

In an announcement reported by the Austrian news agency APA, the Austrian foreign ministry said that "Austria understands the tension prevailing in Greece, since the pressure on Greece is increasing for it to cooperate in a restriction in the flow of refugees."

Commenting on the decision to recall Greece's Ambassador in Austria Chryssoula Aliferi, the Austrian foreign ministry said it was the right of every country to recall its diplomats and expressed hope that this would help bring about a change in prevailing views on the Greek side.

"We see in this case an opportunity for the ambassador to inform the Greek authorities regarding the situation and the challenges for the destination countries for refugee flows, such as Austria," the announcement said, adding that Greece must help to reduce the number of refugees heading toward the north.

[07] Austria threatens Greece with expulsion from Schengen

Austrian Interior Minister Johanna Mikl-Leitner threatened Greece with expulsion from the Schengen area on Thursday over its perceived inability to curb refugee flows into Europe, saying that if the country cannot protect the EU's external border, it cannot continue to be its border.

"If it is really the case that the Greek external border cannot be protected, can it be still a Schengen external border?" she said as she arrived for a meeting of European interior ministers in Brussels. "If Greece is not able or ready to protect its external borders, others have to take the helm."

She also defended FYROM's decision to increase controls at its border with Greece, saying it will help stop refugee flows.

[08] Defence minister announces creation of 5 more hotspots in northern Greece

Kammenos said during a press briefing that the temporary accommodation camps will provide decent living conditions for the refugees and will separate nationalities and creeds to avoid confrontations among them.

The tents will be offered by the Labour Ministry, the UN High Commission for Refugees, while Greece has also asked NATO to provide some more. "Our aim is to not leave a single refugee-migrant without a roof over his head," he said, adding that no camp will be set up in Volos because they want to be near the border.

Commenting on NATO's intervention in the Aegean to assist in tackling refugee flows, the minister said Wednesday's agreement at its Permanent Representatives meeting will include patrolling the sea area between Lesvos and Kasterlorizo.

[09] FM Kotzias has phone contact with Italian counterpart Gentiloni on refugees' issue

Greek Foreign Minister Nikos Kotzias on Thursday had a phone contact with his Italian counterpart Paolo Gentiloni, says an Italian Foreign Ministry announcement.

"Italy believes that unilateral initiatives on the refugees' issue are dangerous. Italy does not agree with the positions that aim to attribute the responsibility of the management of the refugees crisis to one and only country, namely Greece" said the Italian foreign ministry's announcement.

Moreover, Paolo Gentiloni in his phone contact with Kotzias underlined the need "all to contribute but the effective solution must be adopted within the framework of a European solidarity effort with broad consensus".

[10] European Commission 'working hard to avoid unilateral actions,' spokeswoman Natasha Bertaud says

The European Commission is working hard to "avoid having unilateral actions," European Commission spokeswoman Natasha Bertaud said on Thursday in response to recent developments concerning the refugee crisis.

"The legal position about border crossings is clear, has been repeatedly set out by the Commission. As regards cooperation in the western Balkans, I think you know this is something we are working very hard to achieve and to avoid having unilateral actions and this was the content of the discussions at the European Council," she said.

Bertaud said the ministers along the Western Balkan route had met for a breakfast on Thursday morning to continue discussions ahead of the Justice Council in Brussels and that the European Commission's role was "to facilitate the dialogue and to ensure that we are prepared for all scenarios." Countries participating in the breakfast meeting included ministers from the Former Yugoslav Republic of Macedonia (FYROM), Serbia and Turkey.

Replying to questions concerning the existence of a humanitarian crisis in Greece, the spokeswoman refused to get into figures but noted that the Commission was working closely with Greek authorities on the ground and making contingency plans. She also cited an initiative "following up on European Council conclusions on a humanitarian assistance mechanism inside the European Union."

On the possibility of a referendum in Hungary, Bertaud said the Commission had learned about this from the press but "we...fail to understand how it would fit into the decision-making process which was agreed to by all member-states, including Hungary, under the EU treaties."

She also noted that the domestic dialogue in Hungary on this issue appeared to be ongoing and that the Commission will wait for clarifications to be provided before making any judgements on whether such a referendum was legal or not.

Regarding the meeting of Balkan route countries convened in Vienna on Wednesday, Bertaud said that Austria had informed both the Commission and the Dutch presidency on the meeting's results.

[11] Procedures for rapid returns to Turkey exist, Netherlands Migration Minister Dijkhof tells ANA-MPA

There are procedures that will allow the rapid return to Turkey of all those that have no right to remain in the Schengen area, Netherlands' Migration Minister and EU Justice and Home Affairs Council chair Klaas Dijkhof said on Thursday, in an exclusive interview with the ANA-MPA. He denied that the aim was to set up "de facto" concentration camps for migrants in Greece.

Dijkhof said the goal was for all asylum applications to be submitted in the country of first reception and for the burdens to then be shared out in a second phase, through relocation procedures.

You said that if [refugee] flows are not reduced by March 7, additional measures will be needed. Permit me to ask directly: is the aim to set up in Greece what we would call 'de jure' transit zones and 'de facto' concentration camps, as many call them?

"No. The aim is to reduce flows toward all of Europe, including Greece. But what must also be done is to stop this view that refugees can move and select their destination. According to the Schengen Code, someone must apply for asylum in the first country they reach or else they will not have the right to proceed. After that, we must use relocation so that there is a distribution of burdens and not this policy of sending refugees on that we have seen in the last year."

2. In other words, that means that all those coming will stay in Greece until they are relocated or return, in the case that they have no right to asylum.

"Many people must go back as soon as possible. Both we and Greece are working actively with Turkey in order to make a selection. This is the essence of relocation. The people that have no right to protection will not move around Europe and, with regard to asylum seekers, there will be a distribution of the burdens. There is significant assistance from the member-states and the European Commission, in funds, resources and human personnel, in order to help Greece in relation with the necessary reception facilities.

Do you believe the EU has the legal and operational capability to return all those that have no right to asylum? Specifically, who and with what deadlines could do this job? And also, what guarantees do you have that Turkey, first of all, will accept these terms?

"We are working on this with Turkey. The first results of the talks show that there are good intentions. The procedures exist so that it can be quickly decided that specific categories do not have the right to protection, to remove their right to be in European territory and for them to be therefore returned."

Reference was made today to article 26, which continues to be the safety valve for continuing controls on internal borders? What more is Greece expected to do over these three months and what will happen in the opposite case?

"We did not discuss this particularly today. It is in implementation. However, we repeat that this is not some form of exclusion of Greece. The aim is to have a legal framework for the measures that other member-states have already taken and not find ourselves in a state where there is no legal basis and European framework. Not to push a country out."

[12] UNHCR chief: Refugees must be given alternative way to legally enter Europe

The refugees must be given an alternative way of legally entering Europe, UN High Commissioner for Refugees Filippo Grandi said on Thursday, as he was leaving an EU Justice and Home Affairs Council on migration issues.

"We propose a relocation system not just from Turkey but also from Lebanon and other neighbouring countries," he said.

Regarding Greece, Grandi noted that it would suffer the consequences of other countries closing their borders and that "a great deal more work and resources," would be required in order for Greece to manage this situation.

[13] Defence Minister: Refugees or migrants rescued by NATO will be sent back to Turkey

"The agreement with NATO has closed. Ships of the NATO force are already sailing along the coastline to ensure that whoever is rescued will be sent back to Turkey" he stressed.

[14] 11 Greek warships participate in NATO's force in the Aegean

[15] ND spokesman: Refugees issue out of control

"The country touches point zero. The refugees issue is almost out of control. The real economy is a deserted land. The negotiation is "clinically dead" and the society is in turmoil. Mr. Tsipras is becoming a fatal prime minister for Greece. He insults, polarises, lies and slanders. In the morning he calls for consensus and in the evening he divides" said Koumoutsakos.

On his part, ND leader Kyriakos Mitsotakis continues to take initiatives on the refugees' issue which he considers of high national importance with European and international dimensions.

Koumoutsakos said that ND has set up a special crisis management team and that Mitsotakis has informed EU ambassadors to Greece and ND has sent demarches to Austria and to Turkey before the government. "The initiatives will continue because they are dictated by the seriousness of the situation".

He also announced that ND leader along with ND vice president Costis Hatzidakis will give a press conference on Friday at 10:00 where he will present the philosophy of the party's programme.

Finally, ND spokesman said that Mitsotakis has been invited to speak at Potami party's Congress.

[16] NGO's try to secure passage of bus with vulnerable refugees into FYROM

The bus is carrying 45 refugees from Iraq and Syria, along with their carers.

"There are cancer patients, a child with autism, a woman who just gave birth to twins, people with serious skin conditions and a person who has lost his legs and is wearing bad quality prosthetics," said Stella Nanou, spokeswoman of UNHCR, told ANA-MPA.

Nanou said that nobody knows why all those people got into this bus with their families, adding that it will be extremely difficult to get them through the border, considering that only 100 have crossed into FYROM today.

According to police, the temporary camp in Idomeni has not been swamped with about 3,000 people, while another 1,000 sleep at a gas station, 20 kilometers away. Authorities also removed 170 Afghanis from the camp with three buses who had no hope of crossing the border.

[17] Only 100 refugees will be allowed to get into Fyrom on Thursday

Meanwhile, over 3,000 refugees are waiting at the refugees camp at Idomeni to cross the Greek-Fyrom border while 2,000 refugees are hosted at Diavata camp in Thessaloniki.

The authorities said that approximately 5,000 refugees are currently in buses in several parts of the country.

[18] PM Tsipras to farmers: We must try to find solutions through dialogue

I do not agree with the penalisation of the farmers mobilisations and therefore the effort we do today through dialogue is in a positive direction" said Tsipras.

[19] PM's meeting with farmers in climate of mutual understanding, say gov't sources

According to the same sources, the prime minister said to the farmers that the government's key reform is all farmers to have access to the national pension and to be able to further 'build' through the contributions.

Tsipras committed that the government is against the penalisation of the mobilisation adding that substantial dialogue is needed and for this reason he wants the government to be in open contact with the farmers.

[20] We discussed the tax-free issue, says farmers representative after meeting with PM Tsipras

"We can say that for the first time the government discussed the tax-free issue. We will wait to see the draft law. We stay alert. We asked the pension reform to be withdrawn" he said

Asked if the mobilisations will continue, Boutas said that it will be decided at the blockades because the decisions are taken collectively and that the farmers will wait to see the draft law.

[21] Farmers' movement benefited from labour action, says head of one union

"What we must all understand and make clear, is the great benefit for the farmers' movement which, through these labour actions, emerges more unified than ever," Papakonstantinou said, adding that struggles never end.

"We may not have got all that we wanted from today's meeting and there's a lot of work that needs to be done, but, on our side, we made a specific and concrete proposal in the five points we discussed in Nikaia and made our realities clear," he added, noting that the initial agreement on an issue of taxation is positive.

[22] PM Tsipras to meet S&D head in Europarliament Pittella on Friday

According to government sources, the meeting will take place at 17.00 (local) in parliament and a joint press conference will follow half an hour later.

[23] Opposition ND, Potami strongly criticise bill 'improvement' as contrary to Constitution

In an announcement, ND Parliamentary spokeswoman Niki Kerameos and sector-head Giorgos Georgantas noted that "this very important modification was tabled without a report from the General Accounting Office of state. This is yet another provocative violation of Parliamentary regulations and the Constitution."

Potami called the measure "scandalous" and asked that it be immediately withdrawn.

[24] Economy minister optimistic that institutions will return to Athens soon

In an interview with News247, Stathakis said that any further delay would not benefit anyone and stressed it was feasible, "if we sit at the same table with creditors" to complete the review of the Greek programme in two weeks, before the Catholic Easter.

The Greek minister stressed there was a difference in philosophy with the IMF, but said he expected a solution to be reached without the Greek side changing its principles, which rule out a new round pensions cuts. "The government clearly has a vision for the future of the economy and this might be more clear after completion of the first review, which will signal the implementation of around 70 pct of an agreement reached with creditors in the summer of 2015," Stathakis said, adding it was logical to have reactions after five years of measures. "We have our ears open and we will exhaust all room for dialogue," he said.

Stathakis said a new development law will be tabled to Parliament after consultation with Brussels and the institutions.

[25] Institution mission chiefs to return to Athens next week, gov't source says

The same source, who is participating in the negotiations, confirmed that there was a convergence in the positions of the government and the Europeans regarding the pension system, while there are still significant differences with the International Monetary Fund (IMF) concerning the fiscal gap.

There was no agreement with the Europeans on pension reform as yet, the source clarified, while estimating that this will finally be achieved if there certain parametric changes are made to the plan concerning supplementary pensions and there is a lowering of a "cap" on main pensions and multiple pensions.

[26] Greek, Norwegian economy ministers discuss financing from EEA

The meeting was also attended by the Norwegian Ambassador to Greece, J?rn Gjelstad and the minister's staff.

"We had a very constructive meeting with Mr. Stathakis. We discussed the challenges facing the Greek government and we analyzed the sectors which we will fund through the programs of the European Economic Area," Aspaker said after the meeting. "It's clear that migration and progress in this field are a priority, as well as strengthening the public sector," she added.

On his side, Stathakis said: "The main topic of discussion was of course the developments in the economy, the refugee issue and cooperation in joint programs which both countries have, one of which in fact is funded by Norway. We agreed to focus on issues of social exclusion, youth entrepreneurship etc. in the coming years."

[27] Environment ministry hits back at lawsuit threat from Eldorado Gold

In an announcement, issued in response to comments made by the chairman and chief executive of Eldorado Gold Corporation Paul Wright over his intention to seek a lawsuit for defamation against Greek Environment and Energy Minister Panos Skourletis following the Greek minister's recent interview with Bloomberg, the ministry said that as Mr Wright was free to perform the rights offered to him by the Greek law, so the Greek minister has the right to express political comments and the obligation to protect public interests.

[28] Public sector union ADEDY to participate in March 9th rally

"ADEDY demands the immediate withdrawal of the social security bill and announces the continuation of the struggle until the government decides to withdraw it," the head of the union's executive committee, Stavros Koutsioubelis said after the meeting, adding that the committee will reconvene on Friday to decide whether to hold a strike in the first 10 days of March.

Financial News

[29] Greece is very close to exiting the crisis, Bank of Greece says

In the report, the central banker noted that the prospect of exiting the crisis was visible today. However, he warned that we have to remain focused on adhering to the terms of the agreement in order to approach it and stressed that in no case these terms should be seen as orders by creditors but as fundamental and necessary reforms, which had to be done a long time ago.

"The Greek side must adopt the programme as a necessary means of adjusting and reforming the economy," Stournara said.

The Bank of Greece expects that the country's GDP will continue contracting at least until the end of the first half of 2016, due to a carry-over from 2015, but noted that there were objective preconditions to halt this recession and to reach positive growth rates from the second half of the year. However, a series of actions were necessary to avert any risks and to enhance the prospects of recovery. First and most crucial steps for future developments was a successful completion of the first review of the Greek programme, currently underway.

Stournaras underlined that a positive review will boost the real economy and will lead to negotiations over a debt restructuring. "The Greek economy has gone through a painful road of adjustment with a big social cost but with visible results over the last few years. What remains to be done is only a small fraction of a great effort already made," Stournaras stressed.

The Bank of Greece noted a precondition for a sustainable growth was safeguarding social cohesion, currently threatened by rising poverty and an uneven distribution of income and the social exclusion of significant parts of the population.

[30] Greek economy to return to positive growth rates in H2 2016, KEPE

KEPE noted that the Greek GDP was expected to move lower by the middle of 2016, but the prospect of a smooth implementation of a new agreement on a bailout programme justified a relative optimism over a recovery in private consumption and of investments in the remainder of the year. The report noted that economic stabilisation, a de-escalation of uncertainty and resolving the problems in liquidity and funding of enterprises were crucial to improving export performance of the country in 2016.

[31] Fessas sounds alarm bell for Greek economy

Addressing the annual general assembly of the Bank of Greece, Fessas noted a dangerous delay in the Greek economic programme review and said that the country was balancing on a tight rope.

He recommended that the government should tax everyone "from the first euro in a progressive and socially fair way" and repeated his objections to an over-taxation of consistent taxpayers which increased the incentives for tax evasion.

"Incentives for employment are slowing dangerously, leading the productive base of the Greek economy to contract even more. It is obvious that in such a framework of over-taxation it is impossible to attract capital and people of high expertise, who are moving to foreign countries," Fessas said, adding that authorities should implement an obligatory electronic pricing between enterprises and transactions with the state, a move which could offer annual benefits of up to 1.5 billion euros to enterprises, reduce forged bill documents by 80 pct and boost VAT revenues by up to 1.0 billion euros each year.

He underlined the need for a proper management of non-performing loans to free banks and to restructure the productive sector of the country. "Moral hazard threatens to undermine what remains of the confidence in the banking system and an end must be put immediately to a regime that rewards the delinquent," he said.

[32] Bank credit to private sector at -2.1 pct in Jan

The central bank, in a monthly report, said that the monthly net flow of total credit to the domestic private sector was negative at 512 million euros, compared with a positive net flow of 210 million in the previous month.

In January 2016, the monthly net flow of credit to corporations was negative at 201 million, compared with a positive net flow of 355 million euros in the previous month, while the annual growth rate of credit stood at -1.4 pct, against -0.9 pct in the previous month. In particular, the Bank of Greece said that annual growth rate of credit to non-financial corporations stood at -1.6 pct in January 2016, from -1.2 pct in December 2015. The annual growth rate of credit to insurance corporations and other financial intermediaries stood at 1.3 pct in January 2016, from 3.2 pct in the previous month.

In January 2016, the monthly net flow of credit to sole proprietors and unincorporated partnerships was negative at 12 million euros, compared with a negative net flow of 47 million in the previous month, while its annual growth rate remained unchanged at -1.2 pct, compared to the previous month. In January 2016, the monthly net flow of credit to individuals and private non-profit institutions was negative at 299 million euros, compared with a negative net flow of 98 million in the previous month, and its annual growth rate stood at -3.0 pct, from -3.1 pct in the previous month.

[33] NPLs grew to 43.6 pct in Sept, Bank of Greece says

The central bank has announced the introduction of quantitative targets for each credit institution to reduce NPLs starting from June 2016. These targets will be set after consultation with banks and the Single Supervisory Mechanism (SSM) and will be review on a quarterly basis. The obligation of banks to achieve their goals, combined with the introduction of a new regulatory framework -related among others with the creation of a secondary market for NPLs, faster legal procedures and flexible liquidation of guarantees by banks, is expected to have a positive impact in efforts to gradually lower the percentage of NPLs.

Among others, the Bank of Greece demands interventions towards the restructuring of viable enterprises, stressing that in parallel with a debt restructuring it was crucial to have management changes -when a management is not cooperating- and changes in the structure and the business plan of a debtor company.

[34] Greek inflation at -0.1 pct in Jan, Eurostat

Greek annual inflation rate was -0.1 pct in January 2016, from 0.4 pct in December 2015, Eurostat said on Thursday. The EU executive's statistics service, in a report released here, said that the inflation rate was -2.8 pct in January 2015.

In the Eurozone, the annual inflation rate in January was 0.3 pct, from 0.2 pct in December and -0.6 pct in January 2015, while in the EU, the inflation rate was 0.2 pct in January, unchanged from December and up from -0.5 pct in January last year.

Poland (-1.7 pct), Romania (-1.5 pct) and Cyprus (-1.1 pct) recorded the lowest inflation rates, while Belgium (1.8 pct), Austria (1.4 pct) and Sweden (1.3 pct) the highest inflation rates.

[35] First shipment of Iranian crude expected at end March, Hellenic Petroleum says

The resumption of crude purchases from Iran was made possible after international sanctions were lifted and ELPE signed an agreement with Iran's national oil company NIOC to settle outstanding payments between the two sides.

Iranian oil is gradually expected to cover roughly a quarter of the ELPE refineries' needs.

[36] Hellenic Petroleum reports record-high EBITDA for 2015

Comparable EBITDA totaled 758 million euros, the highest ever recorded. Domestic demand for fuel was 8.6 million tons in 2015, up 5.0 pct from 2014 reflecting a 43 pct jump in heating oil, while diesel consumption rose 3.0 pct, counterbalancing a decline in the consumption of petrol.

Hellenic Petroleum said it planned to repay a Eurobond issue worth 400 million US dollars using cash reserves and existing credit lines and said it also planned to return to international capital markets when conditions allowed it.

The Group said that in early 2016 it agreed with BP plc to expend an agreement for the exclusive use of BP's brand names for ground fuel in Greece by 2020, with the option for another five year extension.

[37] OTE Group says revenue up 2.0 pct in Q4 2015

In an announcement, OTE said its board will recommend paying a 0.10 euros per share dividend to shareholders, up to 0.08 euros last year year, for a dividend payment of around 49 million euros.

Consolidated revenue grew 2.0 pct in the fourth quarter compared with the same period in 2014, while adjusted EBITDA fell 6.0 pct to 348.5 million euros, reflecting extra charges. EBITDA margin grew to 40.2 pct (fixed telephony) and 35.7 pct (mobile telephony). Net group profits totaled 151.9 million euros last year, while investments rose 2.3 pct to 569.7 million. Adjusted free cash flows totaled 507.2 million euros in 2015, surpassing targets, while adjusted net borrowing was less than 900 million euros in December 31, 2015, down 23.6 pct from 2014.

In Greece, fixed telephony recorded impressive performance, with revenues up 5.1 pct thanks to broadband services, ICT projects and a significant increase in OTE TV revenues (446,000 subscribers). In the mobile telephony business, customer base grew 1.6 pct compared with 2014.

In Romania, mobile telephony business recorded strong growth, with revenue up 7.5 pct in the fourth quarter, while fixed telephony revenue rose 5.0 pct in the quarter.

In Albania, revenue jumped 33 pct in the quarter.

Mihalis Tsamaz, chairman and chief executive of the Group, commenting on the results said that OTE was achieving its goals because it continued investing to better networks, products and services. "Romania remains a difficult market but we expect that our investments in combined services (fixed and mobile telephony, TV, establishing a fiber optics network and improved 4G coverage, will offer results in the medium term," Tsamaz said, adding that in 2016 "we expect conditions to remain difficult, but continuing investments and our advanced technologies, combined with hard work and dedication of all of our teams, will allow

[38] Jumbo says profits up 15.72 pct in H1

Sales rose 8.97 pct to 371.75 million euros, with sales in Greece rising slightly and sales abroad recording strong growth rates.

Jumbo Group began operating a new store in Pitesti, Romania. EBITDA amounted to 105.48 million euros, up 15.10 pct. The company said it expected annual sales to grow by 6-8 pct this year because of challenges faced in the second half and continuing mobilisations in Greece. Gross profit margin rose to 51.54 pct from 50.97 pct.

Jumbo Group operates a network of 71 stores in four countries, 51 in Greece, five in Cyprus, eight in Bulgaria, seven in Romania and one e-jumbo store. It also plans to operate a new super-store in Greece, one in Bulgaria and two in Romania.

[39] Greek bank deposits down 1.2 bln euros in January

Bank deposits are down around 17 pct in the last 12 months after falling from 148 billion euros in January 2015.

[40] ASE suspends trading in ELVAL

[41] Greek stocks end 2.05 pct higher

The composite index rose 2.05 pct to end at 483.98 points, while the Large Cap index rose 2.41 pct and the Mid Cap index ended 1.07 pct higher. Turnover was a low 52.88 million euros in volume of 110,828,371.

OTE (8.55 pct), National Bank (7.14 pct), Eurobank (6.01 pct), Alpha Bank (4.76 pct) and Hellenic Petroleum (4.71 pct) scored the biggest percentage gains of the day among blue chip stocks, while Ellaktor (5.13 pct), Coca Cola HBC (1.12 pct) and Grivalia Properties (0.96 pct) suffered heavy losses. Cyprus Bank and National Bank were the most heavily traded securities of the day.

Among market sectors, Telecoms (8.55 pct), Financial Services (4.79 pct) and Banks (4.68 pct) scored big gains, while Insurance (1.51 pct), Food (1.12 pct) and Technology (0.85 pct) were top losers.

Broadly, advancers led decliners by 55 to 46 with another 21 issues unchanged. Ekter (29.71 pct), Sidma (19.63 pct) and Sfakianakis (19.05 pct) were top gainers, while Akritas (20 pct), Vioter (17.39 pct) and Frigoglass (12.85 pct) were top losers.

[42] Greek bond market closing report

In interbank markets, interest rates remained unchanged. The 12-month rate was -0.15 pct, the nine-month rate was -0.072 pct, the six-month rate was -0.128 pct, the three-month rate was -0.201 pct and the one-month rate was -0.262 pct.

[43] ADEX closing report

General News

[44] Economic Forum opens on Friday in Delphi

The forum, held under the auspices of the President of the Republic Prokopis Pavlopoulos, will bring together top government ministers, representatives from the main opposition party, European Commissioners, high-ranking officials from global institutions such as World Bank, European Investment Fund, the European Commission, OLAF and highly-influential international think tanks.

The agenda of the meeting will cover 20 hot issues, such as changes in international geopolitical balance of power and challenges facing the eastern Mediterranean region and Greece's long-term growth outlook.

The list of distinguished speakers will include the vice-president of the government Yiannis Dragasakis, former prime ministers Lucas Papademos and Panagiotis Pikrammenos, vice-president of New Democracy Adonis Georgiadis and the former vice-president of government Evaggelos Venizelos. The list also includes foreign guests such as former Chancellor of Austria Wolfgang Schussel, EU Regional Development Commissioner Corina Cretu, the head of the American Competitiveness Council Deborah Wince-Smith and the head of Financial Times' office in Brussels Peter Spiegel.

[45] Four out of 10 Greeks don't know what a 'hotspot' is - poll

The poll was organized by the non-profit research organization Dianeosis and conducted by Public Issue through telephone interviews with 1,220 people throughout Greece.

According to the results, an overwhelming 92 pct of those questioned believe the European Union has not supported Greece on the issue of assisting the refugees, while 66 pct think the country must not close its borders to the refugees.

The poll included a questionnaire with 21 questions covering various aspects of the issue, ranging from their view on the stance held by NGOs, the coast guard and the residents of the islands mostly affected, to their views on the Schengen agreement and the way in which the government and the European Union responded to the crisis.

The full findings of the poll will be published on February 28 on Dianeosis' website (www.dianeosis.org).

[46] Athens Bar Association expresses support for lawyer sued by top Court judge

"The ABS states its deep concern and complete opposition towards behaviours that question obvious and non-negotiable human rights, like the free expression of ideas and the public criticism of public figures," the association said. "Lawyers cannot and will not be passive spectators in cases that violate justice," it added.

Thanou sued Tsakyrakis after he criticized her on his personal website in 2015 for writing to her colleagues in other European Union countries in 2015, asking them to urge Greece's international lenders to complete the country's bailout review.

[47] Greek lawyers extend their strike to March 4

The Associations are requesting that the government starts talks from scratch and provide data for its draft bill.

[48] EC takes Greece to court over nitrate water pollution

The European Commission announced on Thursday it is referring Greece to the EU Court of Justice for failing to take measures to guarantee that water pollution by nitrates is addressed effectively.

Although the Nitrates Directive has been in force since 1991, Greece has still not designated a number of zones vulnerable to nitrates pollution, and it has yet to adopt measures to effectively combat nitrates pollution in these zones, the Commission said.

[49] Four injured, six arrested in scuffle between Anderlecht and Olympiakos fans

Anderlecht's fans are in Greece for the Europa League football match Olympiakos-Anderlecht that will be held on Thursday evening at Karaiskakis stadium in Piraeus.

The injured and the arrested are Belgian nationals.

[50] Additional four deaths raise toll from H1N1 flu to 136

[51] 1,352 refugees arrive at Piraeus port on Thursday

The migrants and refugees were transferred to the port's passenger stations where they will be temporarily hosted while some of them are expected to be sent to the refugees' reception centers.

According to Lesvos authorities, 1.476 persons were identified at Morias hotspot on Wednesday.

Meanwhile, the Norwegian Minister of European Affairs Elisabeth Aspaker will arrive in Mytilene on Thursday noon and will visit the hotspot at Moria.

Weather forecast

[52] Partly cloudy on Friday

[53] The Thursday edition of Athens' dailies at a glance

DIMOKRATIA: Is this EU? The European myth just collapsed.

EFIMERIDA TON SYNTAKTON: Heading to an impasse.

ELEFTHEROS TYPOS: Chaos over the refugees' issue

ESTIA: NATO washes its hands.

ETHNOS: The suffering of the trapped refugees.

IMERISSIA: Athens Stock Exchange 'trapped'.

KATHIMERINI: Warnings outside, polarisation inside.

NAFTEMPORIKI: In the refugees issue vortex

RIZOSPASTIS: Hands off the farmers' struggle.

TA NEA: Government begs the troika to return

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