Athens News Agency: News in English, 00-12-04

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

CONTENTS

[01] EU-Turkey-Partnership relation- Papandreou

[02] ATHOC -Resignation -recasts-adds 2004 chief

[03] Greece - Bulgaria - Balkans

[04] Greece - Baseball - Debut

[05] Greece-new stock exchange-correction

[06] Greece-new stock exchange

[07] Thessaloniki - Kostunica - ends visit

[08] ASE-government-measures

[09] ASE-close

[10] Greece-foreign exchange

[11] Greece-labour reform

[12] Minoan Lines-trading suspension

[01] EU-Turkey-Partnership relation- Papandreou

BRUSSELS (ANA - M. Spinthourakis/Y.Zitouniati) - Foreign Minister George Papandreou expressed satisfaction over the agreement reached here on Monday on the issue of Turkey's partnership agreement with the European Union, saying it is a historic moment in Turkey's relations with the EU, as well as with Greece.

Papandreou also underlined that in the framework of the partnership agreement the preconditions which Turkey is called upon to fullfil are mentioned.

The agreement reached during an EU foreign ministers council meeting, has two references of direct interest to Greece. The first concerns Turkey's short-term commitments and anticipates that in 2001 Turkey, in the framework of political dialogue with the EU, should back the efforts of the UN secretary general for a solution to the protracted Cyprus problem. This reference is in a paragraph entitled "short-term commitments" and "strengthened political dialogue and political criteria."

[02] ATHOC -Resignation -recasts-adds 2004 chief

Managing director of the Athens 2004 Olympics Organizing Committee (ATHOC) Petros Synadinos on Monday tendered his resignation from the post.

In his letter of resignation to Prime Minister Costas Simitis, Synadinos cited personal reasons, but sources close to him said he quit in disagreement with the ATHOC administration on the allocation of duties among the organizing committee officials.

Synadinos also informed environment, town planning and public works minister Costas Laliotis as well as Press and Mass Media Minister Dimitris Reppas of his resignation

Yianna Angelopoulos-Daskalaki, who is in Lausanne for consultations with the International Olympic Committee (IOC), said "every one of us is sad that Petros Synadinos left for personal reasons. We collaborated very well both during the bid for the Games and now. I wish the best of lack".

On his part, Reppas expressed his regret over the resignation of Synadinos and thanked him for his services to "this great effort".

[03] Greece - Bulgaria - Balkans

The latest developments in Yugoslavia and the situation in the strife-torn province of Kosovo dominated talks here on Monday between Greek Prime Minister Costas Simitis and visiting Bulgarian President Petar Stoyanov.

Afterwards, both leaders emphasised that any solution to the Kosovo problem must be found strictly within the framework of the UN Security Councils Resolution 1244, whereas the ongoing process of democratisation in Yugoslavia must be supported.

In terms of bilateral relations between the two Balkan neighbours and allies, Simitis noted that Greece will earmark $60 million for infrastructure works in Bulgaria alone, part of the countrys contribution to the Balkan Stability Pact.

[04] Greece - Baseball - Debut

The Greek national baseball team posted a win and a loss in its maiden appearance during a tournament over the weekend in Cyprus -- its historic official debut four years before the Athens 2004 Olympics.

Although baseball is ?Americas national past-time? and immensely popular in Central America, the Caribbean and Far East, the game is still relatively unknown in this Mediterranean country of 11 million people.

In its first game, the Greek team defeated Cyprus 12-2, whereas it lost to an Israeli team in existence for 10 years 12-4.

[05] Greece-new stock exchange-correction

A correct version of a "Greece-new stock exchange" story follows:

NEXA, Greece's new growth market, is expected to give the first approval to a company's listing on the market this week, Athens Stock Exchange chairman Panagiotis Alexakis said on Monday.

Addressing a Venture Capital Forum on New Economy, Alexakis said that ASE authorities have already completed NEXA's regulatory framework.

The first company to list its shares on NEXA is Unibrain. Alexakis said that another 20 companies have applied for listing on the new growth market.

[06] Greece-new stock exchange

Greece's new stock exchange for fast-growing companies, NEXA, is expected to make its debut this week, with trading of Uni-Brain's shares, Athens Stock Exchange chairman Panagiotis Alexakis said on Monday.

Addressing a conference on new economy in Athens, Alexakis said that ASE authorities have completed a regulatory framework for NEXA.

He said that another 20 companies have applied for listing on the new stock market.

[07] Thessaloniki - Kostunica - ends visit

In statements shortly before he ended a two-day private visit to Greece on Monday, Yugoslav President Vojislav Kostunica said that humanitarian aid from Greece was helping Yugoslavia as it struggled to overcome the problems caused by economic sanctions and NATO bombings, while noting that its good relations with Greece had contributed to stability in the Balkans.

Kostunica arrived in Greece on Sunday at the head of a delegation of Yugoslav government officials to carry out a pilgrimage to the Serb Orthodox Hilandariou Monastery on Mount Athos, a semi-autonomous monastic community in northern Greece.

On his return from the Athos peninsula, the Yugoslav stopped over in Thessaloniki, where he met Macedonia-Thrace Minister George Paschalidis, visited the city's Aghios Demetrios Cathedral and laid a wreath at the allied military cemetery of Zejdelik.

[08] ASE-government-measures

Greece's National Economy and Finance Minister Yiannos Papantoniou on Monday announced a cut in securities' transaction tax from 0.6 percent to 0.3 percent, a moved aimed to boost liquidity in the Athens Stock Exchange.

Addressing a Hellenic-American Chamber of Commerce conference, Papantoniou said the government also planned to adopt a more favourable tax policy towards long-term mutual funds and announced a more active role by banks in managing social security funds.

These measures, combined with the government's privatisation programme and implementation of Third Community Support Framework projects, would give a new boost to the Greek economy, Papantoniou said.

He said the government was planning 10 more privatisations in the first six months of 2001 and announced the floating of Greek Soccer Pools on the Athens bourse in the next few weeks.

[09] ASE-close

Equity prices extended Friday's spectacular rebound on the Athens Stock Exchange on Monday, pushing the general index above the 3,500-point level for the first time after 13 sessions.

Traders said government initiatives to support the market and the economy, combined with year-end buying by institutional investors, created a general upward trend in the Athens bourse.

The general index ended 4.05 percent higher at 3,541.20 points, with turnover an improved 130.063 billion drachmas, raising hopes of a sustained recovery in the market.

The FTSE/ASE 20 index for blue chip and heavy traded stocks ended 3.90 percent higher at 2,010.41 points, and the FTSE/ASE 40 index ended at 438.79 points, up 6.30 percent.

The parallel market for smaller capitalisation stocks soared 7.46 percent to 380.26 points.

[10] Greece-foreign exchange

The drachma continued moving higher against the US dollar on Monday following the euro/dollar's rate jump above the 88 cents level in international foreign exchange markets.

The Greek drachma rose to 383.580 drachmas per dollar at the day's fixing, up from 389.110 drachmas on Friday.

The drachma also moved closer to its central parity against the euro currency at 340.600 drachmas.

[11] Greece-labour reform

Labour Minister Tassos Yiannitsis on Monday unveiled a new compromise proposal on the retirement terms of heavy industry and unhealthy jobs, accepting an agreement between employers and trade unions.

Yiannitsis withdrew a relative clause from a labour reform legislation, currently under discussion in parliament, and said he will submit an amendment on Tuesday, based on the agreement between employers and trade unions.

The amendment covers 1,300 workers annualy, with a cost of eight billion drachmas.

Yiannitsis said that by next week the parliament would have voted a draft bill on labour reform and increasing employment.

He noted, however, that he remained "open" to further proposals, based on agreements between employers and trade unions.

Yiannitsis said that a social dialogue on social security reform would begin in the first quarter of 2001.

[12] Minoan Lines-trading suspension

A correct version of the Bourse-MFD-Trading suspension story follows:

The Capital Market Commission on Monday decided to extend a trading suspension of Minoan Lines shares, initially enacted after the suicide of the company's vice-president last week under pressure following the sinking of a ferry that resulted in the loss of 80 lives.

The Commission extended the suspension of trading of Minoan Lines shares on the Athens Stock Exchange to Wednesday, December 6, to "ensure the time margin for full briefing of investors".

Pantelis Sfinias, vice president of the board of Minoan Flying Dolphins, a subsidiary of Minoan Lines, jumped out of the window of his 6th floor MFD office in Piraeus on November 29.

News of Sfinias's suicide immediately plunged the Minoan Lines stock by 11.98 percent, at the razor's edge of the 12 percent volatility limit under Greek bourse rules, prompting the Capital Market Commission to suspend trading of Minoan shares up to and including December 1 to protect investors "as a result of the situation following the tragedy".

MFD was the owner of the Express Samina ferry that sank in a storm off Paros late September after scraping a well-marked rocky outcropping, in Greece's worst maritime disaster in 35 years.

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