Athens News Agency: News in English, 03-03-19

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

CONTENTS

[01] EU talks on Iraq must focus on 'day after', Greek FM says

[02] Budget for Athens' beautification prior to 2004 Games finalised

[03] Iraq crisis to have adverse impact on Greek economy, bank says

[04] Hotel Grande Bretagne reopens on Friday

[05] Iraq crisis to have adverse impact on Greek economy, bank says

[06] Increased security measures & equipment at Athens' airport

[07] Foreign Exchange Rates - Thursday

[08] Weather Forecast: Mostly sunny on Thursday

[09] Greek stocks end 0.33 pct up on Wednesday

[01] EU talks on Iraq must focus on 'day after', Greek FM says

BRUSSELS (ANA - M. Spinthourakis) Greek Foreign Minister George Papandreou, current head of the EU Foreign Ministers' Council, on Wednesday said that talks between European leaders in Brussels on Iraq, despite the deep differences within the Union regarding the legality and the objective of the impending military operation, should focus on the ''day after'' and the role that the United Nations would be called on to play.

He also stressed that the EU would continue efforts to find a peaceful solution until the very last moment.

Diplomatic sources, meanwhile, said that the Greek EU presidency was already examining alternative texts of final conclusions for the spring EU summit that will begin in Brussels on Thursday.

According to the sources, there is already a text that is based on the assumption that the hostilities in Iraq will have started before the end of the summit on Friday. This places emphasis on the role that the U.N. will have to play after the fighting has ended.

A second alternative assumes that the military operation has not begun, in which case the Greek presidency wishes to emphasise the need to find a solution through peaceful means.

[02] Budget for Athens' beautification prior to 2004 Games finalised

The government on Wednesday promised to allocate 59 million euros for works around the Greek capital in light of next years 2004 Olympic Games, with the municipalitys leadership adding that the city will also earmark an equal sum for various projects to beautify and promote Athens.

A cleaner Greek capital during the next Olympic Games remains one of the primary goals of both the government and Athens 2004 organisers (ATHOC), with the burden mostly falling on the shoulders of Athens municipality and other local government entities in the greater Athens area.

Other projects long cited by civic leaders and top government ministers include rehabilitating the facades of buildings including neo-Classical structures -- along several of Athens major thoroughfares; establishing and funding a much-needed stray animal shelter; more greenspace in the congested Greek capital, as well as an advertising campaign to promote Athens. Absolutely imperative improvements in infrastructure for disabled people (i.e. sidewalks and ramps) are also necessary prior to the Games.

Athens Mayor Dora Bakoyianni called the agreement, announced by Culture Minister Evangelos Venizelos, ?respectable?. The citys leadership had, nevertheless, initially hoped for central government funding to the tune of 106 million euros or more.

Venizelos, whose ministry oversees Olympic preparations on the government side, said half of the 59-million-euro figure furnished by the state will come from bank loans guaranteed by the Greek state and Athens municipality.

[03] Iraq crisis to have adverse impact on Greek economy, bank says

The Iraq crisis and a likely war on the Middle Eastern country will have an adverse impact on the Greek economy, blue-chip Alpha Bank said in weekly market report.

''In a period of slacker discipline in fiscal and incomes policy, a long-term war could in reality weaken the growth dynamic of the Greek economy,'' the report said.

''That is why goals of improving competitiveness and fiscal adaptation must return to centre stage as the top priority,'' it warned.

''Adverse repercussions from the climate of war in the Middle East have been accompanied by a cost to the Greek economy, which has appeared mainly as a rise in the price of products and services, or a reduction in demand for travel abroad or exported goods,'' according to Alpha's analysis department.

[04] Hotel Grande Bretagne reopens on Friday

The hotel ''Grande Bretagne'' will resume operations on Friday March 21, fully renovated, after 18 months of renovation works with a cost of more than 70 million euros.

Renovation works began after Hyatt Regency Hotels and Tourism acquired Lampsa SA, the owner of the hotel. Grande Bretagne has 290 rooms, 35 suites (one presidential and one royal).

The hotel will operate with 224 rooms initially, with the remaining rooms to be ready by the end of May along with a pool bar, the Athens Panorama restaurant and a spa centre.

[05] Iraq crisis to have adverse impact on Greek economy, bank says

The Iraq crisis and a likely war on the Middle Eastern country will have an adverse impact on the Greek economy, blue-chip Alpha Bank said in weekly market report.

''In a period of slacker discipline in fiscal and incomes policy, a long-term war could in reality weaken the growth dynamic of the Greek economy,'' the report said.

''That is why goals of improving competitiveness and fiscal adaptation must return to centre stage as the top priority,'' it warned.

''Adverse repercussions from the climate of war in the Middle East have been accompanied by a cost to the Greek economy, which has appeared mainly as a rise in the price of products and services, or a reduction in demand for travel abroad or exported goods,'' according to Alpha's analysis department.

The report said that the cost to the small, exposed Greek economy could not be buffered through a further increase in domestic demand using the state budget and incomes policy.

''The problem of competitiveness would be exacerbated, given a rise in the euro and a shift in demand towards foreign products,'' it added.

[06] Increased security measures & equipment at Athens' airport

The management of the Athens International Airport Eleftherios Venizelos installed three new more sensitive devices in locating explosives, while another five are on order, as part of a move to upgrade the security of the airport in light of the war in Iraq.

Additional security measures include increased patrolling by both vehicles and armed men, full checks of all vehicles and persons entering the tarpon of the airport, observation of airline offices and increased observation of spaces that are open to the public.

[07] Foreign Exchange Rates - Thursday

Reference buying rates per euro released by the European Central Bank

U.S. dollar 1.065

Pound sterling 0.684

Danish kroner 7.488

Swedish kroner 9.269

Japanese yen 127.0

Swiss franc 1.483

Norwegian kroner 7.941

Cyprus pound 0.588

Canadian dollar 1.580

Australian dollar 1.800

[08] Weather Forecast: Mostly sunny on Thursday

Sunshine is forecast in all parts of the country, with scattered cloud in the east and south. Winds northerly, light to moderate. In the north, temperatures will range from -2C to 15C; in the west from 1C to 17C; and in the rest of the country from 3C to 16C. Temperatures in Athens between 4C and 15C; and in Thessaloniki from 2C to 14C.

[09] Greek stocks end 0.33 pct up on Wednesday

Greek stocks ended Wednesday's session slightly higher as buying demand for small- and medium-capitalisation stocks overcame pressures on blue chip stocks in the Athens Stock Exchange.

The general index rose 0.33 percent to end at 1,543.29 points, with turnover a low 59.2 million euros.

The Holding, Construction and Cement sectors scored the biggest percentage gains of the day (2.30 percent, 0.92 percent and 0.91 percent, respectively), while the parallel market index for smaller capitalisation stocks rose 0.91 percent. On the other hand, the Bank and IT Solution sectors suffered the heaviest percentage losses (0.66 percent and 0.59 percent, respectively).

The FTSE/ASE 20 index for blue chip and heavy traded stocks rose 0.05 percent, the FTSE/ASE MID 40 index ended 0.95 percent higher, the FTSE/ASE SmallCap 80 index rose 1.13 percent and the wider FTSE/ASE 140 index ended 0.31 percent up.

Broadly, advancers led decliners by 221 to 87 with another 56 issues unchanged.

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