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Athens News Agency: Daily News Bulletin in English, 07-10-02Athens News Agency: Daily News Bulletin in English Directory - Previous Article - Next ArticleFrom: The Athens News Agency at <http://www.ana.gr/>Tuesday, 2 October 2007 Issue No: 2712CONTENTS
[01] FinMin Alogoskoufis tables 2008 draft Budget in parliamentThe draft State Budget for fiscal year 2008 was submitted by national economy and finance minister George Alogoskoufis to parliament president Dimitris Sioufas on Monday, and was later tabled with the Standing Parliamentary Committee on Economic AffairsAlogoskoufis said that it was a "very critical budget" as it was the first budget following Greece's exit from the EU's excessive deficit procedure "to which we had been led by the wrong choices of the past". He said it was also the budget that "signals the second stage of the economic streamlining the country needs so as to face the huge problems of the public sector debt and in order for us to be consistent with our European obligations". Sioufas, in turn, said that the tabling of the budget was "a very important parliamentary event" and expressed wishes for the achievement of its targets. Presenting the draft to the parliamentary committee later, Alogoskoufis said that the 2008 budget provided for a 4 percentage point rise in GDP, with a 10.5 percent increase in investments, 7.3 percent increase in the export of goods and services, and a 7.8 percent rise in imports. The budget further anticipates a 1.9 percent increase in employment, while unemployment will be contained at 7.4 percent from 8.3 percent in fiscal 2007. According to Alogoskoufis, achievement of the 4 percent rise in the growth rate will result mainly from the private sector. [02] Greek economy to grow by 4.0 pct in 2008, draft budgetThe Greek economy is expected to grow by 4.0 percent next year, according to a 2008 draft budget tabled to Parliament by Economy and Finance Minister George Alogoskoufis on Monday.The draft state budget establishes fiscal restructuring based on drafting a balanced budget by 2010 and reducing deficits by public enterprises and the healthcare system, continuing a tax reform programe focusing on combatting tax-evasion and expanding the tax base, combatting poverty through a National Social Cohesion Fund and introducing a national pension, supporting the development of regional Greece by effectively using community funds, reforming the pension system after an extensive social dialogue and further supporting a new development model by boosting exports and high-value activities. Greek Economy and Finance Minister George Alogoskoufis, commenting on the draft budget's main provisions for 2008 said he expected a 10.5 pct increase in investments, a 1.9 percent rise in employment and reducing the unemployment rate to 7.4 percent. The Greek minister said that exports were expected to rise by 7.3 percent and imports by 7.8 percent, while the inflation rate is expected to ease to 2.6 pct from an expected 2.7 pct figure this year. Alogoskoufis said the government did not plan to raise VAT and noted that a new tax policy envisaged lower tax burdens and combatting tax evasion on fuel trade. The central government's net revenues are forecast to reach 59.780 billion euros next year, or 26.7 percent of the country's Gross Domestic Product from 25.8 pct this year, while total spending (excluding interest payment) are projected to ease slightly to 30.1 pct of GDP next year form 30.4 pct this year. The public investment program's payment ceiling is projected to reach 9.2 billion euros, of which 6.7 billion will cover co-funded projects with EU structural funds and 2.5 billion project financed with national funds. Next year's draft budget also envisages a next fiscal benefit of 5.050 billion euros in the country's financial transactions with the European Union, up from 4.718 billion euros this year, reflecting higher revenues from EU. The Greek minister noted that the general government's debt will fall below 100 percent of GDP in 2008, for the first time since 1992. The government's debt is project at 213.330 billion euros, or 101.9 pct of GDP this year and at 221.547 billion euros, or 98.9 percent of GDP in 2008. [03] ND speeding up its extreme neo-conservative turn, Papandreou saysMain opposition PASOK party leader George Papandreou, commenting on the draft state budget tabled in Parliament by the government on Monday, said that the ruling New Democracy (ND) party "is speeding up its extreme neo-conservative turn"."The policy voted for by the Greek citizen in the elections is not a neo-conservative one," Papandreou said, adding that "the voice of the citizen will turn PASOK into action, solidarity and a victorious struggle." Papandreou further said that "in Parliament yesterday (Sunday) we had the beautified promises of the prime minister, but today there is a tough reality, since the burden of fiscal policy is falling on the low and medium-level incomes." The PASOK leader said that the citizen is being called on to pay taxes amounting to six billion euros, to pay new taxes for fuel, real estate ownership and new indirect taxes that worsen the unfair relation between direct and indirect taxes. Papandreou added that the triptych of ND's economic policy "is new taxes, new taxes, new taxes, because it is in a hurry to serve the interests that are supporting it." He claimed that expenditures for health and education are moving along low levels, the funding of the social security system is lagging considerably behind obligations and expenditures for the countryside are smaller than in past years. Lastly, Papandreou said that "if the government and the interests that it is serving think that they can benefit from the temporary crisis in PASOK they are mistaken." [04] KKE criticises draft state budgetThe Communist Party of Greece (KKE) on Monday criticised the draft state budget for the year 2008 that has been presented, stressing that it "confirms the anti-popular class orientation of the government's development policy.""The considerable increase in public revenues anticipated will be implemented with the greater undermining of popular income with measures concerning the taxation of fuel, the real estate tax and, in general, the considerable increase in indirect taxation that burdens incomes in an uneven manner," KKE said. The party went on to say that "real salary increases are non-existent if one jointly takes into consideration the course of official inflation and the new increase in the cost of living. Those who will benefit from the anticipated increase in the rate of capitalist development will once agin be a handful of monopolistic groups, for which no tax burden is anticipated." Lastly, KKE said that following the country's exit from the supervision procedure, "working people are seeing that the anti-popular attack is continuing and escalating as well" and called on them to demand the abolition of indirect taxation for fuel and basic commodities of popular consumption, combined with an increase in taxation for big capital. SYRIZA Referring to the same issue, Radical Left Coalition (SYRIZA) party Deputy Panayiotis Lafazanis said that "the government has tabled a budget for a new and even greater tax raid that will burden the wider popular classes with greatly increased direct and mainly indirect taxes." [05] Labour confederation leader on 2008 state budgetGeneral Confederation of Workers of Greece (GSEE) President George Panagopoulos said on Monday that both the government's policy statement and the draft state budget for 2008 "anticipate new savage austerity and a tax incursion that will reduce the incomes of working people dramatically" and accused the government of "following the same deadlocked and anti-labour policy."Referring in turn to the Social Security System, Panagopoulos called on the government "as of today, to accept the proposal by GSEE on the creation of a Security Solidarity Fund as a money box for the future generations and the viability of the system. Moreover, it must take care for strengthened funding for the social security system and the fulfilment of its obligations." "We call on the government to present its full agenda and its specific proposals on the Social Security System now. Otherwise, there is no margin for dialogue and consensus, but only the path of conflicts and social struggles," the GSEE president said. [06] Roussopoulos lists off gov't prioritiesGovernment spokesman Theodoros Roussopoulos listed off the re-elected Karamanlis government's top priorities in practically every area, echoing the numerous policy statements outlined by ministers and the prime minister himself over the weekend in Parliament.Among others, Roussopoulos, who also holds the minister of state portfolio, said the second phase of fiscal restructuring has commenced, with the goal being a balanced budget by 2010, as per EU mandates. He also echoed high-profile statements by the government's economic team on continued tax reform and pending social security reform dialogue. Additionally, Roussopoulos cited education reforms throughout all levels, including a revision of Article 16, which prevents the establishment of recognised non-profit, non-state universities. The government spokesman also emphasized a bevy of measures dealing with the environment and town planning, such expansion of a land registry and codification of environmental law. [07] Leadership candidate Venizelos submits '20-point plan' for PASOKMain opposition PASOK MP Evangelos Venizelos, one of three current contenders for the party's leadership following its defeat in the September 16 general elections, on Monday released a document that he proposed should act as a "basis for dialogue" regarding the party's future.He said the text outlined "20 positions for PASOK and the country" and that its aim was to express how PASOK should be, the guidelines of a government policy that would bring PASOK to power and how the party should react at the present junction. In comments concerning the current crisis in the party, Venizelos said that this was caused by losing the elections with a reduced percentage and not because its leadership had been challenged. He stressed that the party had a fundamental obligation to quickly overcome the crisis and operate as a credible alternative to the ruling party. Analysing the election result, he said that PASOK had lost support on its left because it failed to convince as main opposition and on the right because it failed to convince as a prospective governing party. The MP called on party members to "resist those who want to cling on to power in a shrunken party, a small party, an inward-looking and phobic PASOK". His 20-point document called for "a PASOK that believes in the values of the Socialist Left, forms a majority trend and is a reliable government proposal," and one that expressed the broader centre-left. Within the document, Venizelos also made overtures to the parties of the Left in references to "creating a strategic relationship of dialogue and cooperation with the broader Left" that would overcome what he called "distortions in Greek politics and party geography". The text also called for a modern political style without old-party rhetoric, one that broke definitively with conservatism, drew its power from the people and would bring politics to the forefront while ensuring its autonomy from influences outside institutional channels. According to Venizelos, the party should propose a programme of "progressive" (i.e. non-conservative) changes, be patriotic and able to defend the country's interests in the 21st century, and also able to carry out an honest assessment of the mistakes, delays and contradictions of its term in government. At the same time, he also referred to the achievements under the governments of Andreas Papandreou and Costas Simitis, stressing that PASOK was proud of these. The text additionally reaffirmed PASOK's continued commitment to European integration and called for a "new social state" that will ensure full employment and protect the interests of workers, unemployed, pensioners and the low to middle-income strata. For the economy, Venizelos outlined a model of an "outgoing and competitive economy, a modern developmental model that was green, based on innovation and the country's comparative advantages". He especially emphasised environmental awareness, saying that there should be an environmental parameter in all PASOK policies, while underlining that PASOK would "respect what is private and defend what is public". In an indirect reference to article 16 of the Constitution, which currently forbids the establishment of private universities in Greece, Venizelos said that PASOK "should not play with state universities but ensure that they were improved" and said the party should act as a "Movement for Education and Culture" and a "Movement for Youth". Regarding changes within PASOK itself, he called for the party to act as an institution "founded on unity in values, politics and programme" rather than as one dominated by a single leader, while the top priority was to preserve this unity, which he said was the legacy of party founder Andreas Papandreou. "The desired PASOK is a party able to change itself in order to change society," the text stressed. [08] Diamantopoulou ends speculation she will run for PASOK leadershipMain opposition PASOK MP Anna Diamantopoulou, a high-ranking member of the party and a former European Commissioner, on Monday put an end to speculation that she might be a candidate in the race for the party's leadership by announcing that she did not intend to run.As the reason for her decision, she gave the intensely bitter climate that had emerged within the party in the wake of its election defeat on September 16, which she said was even threatening PASOK's unity: "On the day after I want to fight for the rebirth of PASOK. For a radical PASOK, a PASOK for victory. For this reason, I will not be a candidate," Diamantopoulos said. In her statement, Diamantopoulou also mentioned that this was the first time in the 33 years of PASOK's existence that "even the phantasm of break up is hovering over the party" She said the party was in the grip of "polarisation and sterile confrontation" that did not allow a true exchange of ideas and positions regarding the changes and reforms for Greek society and left no room for overcoming the "generalised and self-evident". She also noted that this had led to a "climate of introversion and pessimism" that was based on "behaviour that does not befit a historic government party". "This does not express me. I want to contribute to politics with solutions and not with the problem," Diamantopoulou added, saying that she would work for PASOK's unity because this was the crucial issue at this time. [09] Ruling party's Parliamentary group to meet on WednesdayRuling New Democracy's Parliamentary group will convene on Wednesday morning in Parliament for a meeting chaired by Prime Minister Costas Karamanlis, during which ND MPs will elect a new general secretary for their group and five deputies.[10] Papoulias, Saakashvili cover gamut of Greek-Georgian relationsPresident of the Republic Karolos Papoulias on Monday received visiting Georgian President Mikheil Saakashvili at the presidential mansion, where bilateral relations and Georgia's interest in approaching Euro-Atlantic structures dominated the talks.In statements immediately afterwards, Papoulias said Greece supports Georgia's efforts to this effect, while adding: "We support territorial integrity and inviolability of Georgia's borders, and we want a further development of economic ties, particularly Greek investments in Georgia." On his part, Saakashvili referred to the ancient bonds linking Greece with Georgia, as he noted the Greek lineage of several Georgian politicians - including the country's foreign minister - Greece's economic activity in the Black Sea country. Furthermore, Saakashvili said he supports the return of ethnic Greeks that fled the strife-plagued province of Abkhazia. Additionally, he said he spoke by phone with Ukrainian President Viktor Yushchenko following Sunday's elections in the Ukraine, saying he told the Ukrainian leader that election results allow that country a unique opportunity to establish a democratic coalition that will facilitate Ukraine's course towards Europe. Finally, Saakashvili referred to a little-known political tussle in his country recently over whether or not to commission a statue depicting mythical Medea in the Georgian port city of Batumi, as the former - according to Greek mythology - helped Jason and the Argonauts steal the "Golden Fleece" from a legendary kingdom in modern-day Georgia only to bring it to ancient Greece. Saakashvili said the story of the Argonauts arrival from far-away Greece continues to resonate in his country today. [11] President Karolos Papoulias hosts dinner for Georgian counterpartPresident Karolos Papoulias hosted a dinner on Monday night in honour of his Georgian counterpart Mikheil Saakashvili, who is currently on an official visit to Greece."The Black Sea and the Caucasus constitute an extremely important region for Greece, with which it is linked with geostrategic, as well as with historic bonds of friendship and cooperation," President Papoulias said. "We are interested in the development of a state of law and, mainly, in the peaceful solution of differences harassing the region so that security and stability can prevail," he added. The Greek president further said that Greece and Georgia border with Turkey in which "we are watching developments" and stressed that "a democratic Turkey having political stability is to the benefit of all of us." Focusing on Turkey, President Papoulias said "we support its European prospects. However, in parallel, we are also expecting its full compliance with all the criteria and the prerequisites of the European Union concerning respect for human rights and religious freedoms, as well as the settlement of Turkey-Cyprus relations, of course." On the question of Cyprus, President Papoulias said that the problem "remains an issue of invasion and occupation of an independent country, a member-state of the UN and of the European Union." He added that "our policy was, is and will be for an overall, just and viable solution for the reunification of Cyprus in the interests of all of its legal inhabitants, based on the relevant resolutions of the Security Council. With the reunification of the island, all the Cypriot people, Greek Cypriots and Turkish Cypriots will enjoy the fruits of a member-state of the European Union with security and prosperity." President Papoulias also referred to the issue with the Former Yugoslav Republic of Macedonia (FYROM), saying that Greece "has helped this country considerably, mainly through big investments by Greek companies", but the neighbouring country "is not showing an intention of cooperation to enable a mutually acceptable solution to the issue of its name, a development that is essential on the road map to the international organisations that it wishes to join." [12] Georgian President visits Hellenic ParliamentParliament president Dimitris Sioufas met Monday with visiting Georgian president Mikheil Saakashvili, with whom he exchanged views on further improvement of political and economic relations between the two countries.Speaking to reporters after the meeting, Sioufas said relations between Greece and Georgia were at a "very good level", and called Saakashvili's visit to parliament "an exceptional honour". Saakashvili in turn thanked Greece for its support and solidarity to is country, adding that the relations between the two countries were, first of all, historical ones, and stressing his belief that the role of the two parliaments was "decisive". [13] PASOK leader meets visiting Georgian presidentMain opposition Panhellenic Socialist Movement (PASOK) leader met on Monday evening with visiting Georgian President Mikheil Saakashvili.Talks focused on bilateral relations, the Cyprus issue, the issue of the Former Yugoslav Republic of Macedonia's (FYROM) name, developments in Kosovo, issues relating to Greeks living in Georgia, the situation in the Caucausus region and Georgia's relations with the EU and NATO. The Georgian president extended an invitation to the main opposition leader to visit his country. [14] PASOK leader issues statement on Cyprus' Independence DayMain opposition PASOK leader George Papandreou issued a statement on Monday on the occasion of the 47th anniversary since Cyprus' independence, celebrated on October 1st.Papandreou declares his party's "active support to the Cypriot people and to the country's political leadership, thus helping in the collective effort to find a comprehensive settlement to the Cyprus problem, the soonest possible, on the basis of United Nations resolutions, the principles and Treaties of the European Union and in full compliance with the acquis communautaire." [15] New Greek Ambassador to Germany presents credentialsBERLIN (ANA-MPA/P. Stangos)Greece's new Ambassador to Germany, Tassos Kriekoukis, on Monday presented his credentials to German President Horst Kohler. During their talks, Kohler expressed his interest on the type and size of the material aid required for the confrontation of the damages caused by the catastrophic wildfires in Greece in August and the support of the fire-affected inhabitants of the country. Kohler also asked to be briefed on the political developments in Greece following the September 16 general elections. The Greek diplomat has served from 1984-1989 as Consul General in Dortmund and is the fifth Greek Ambassador to Germany after the country's unification. Financial News [16] PM discusses pension reform with finmin, employment ministerPrime Minister Costas Karamanlis on Monday had a meeting focusing on planned reforms to Greece's social insurance and pension system with Finance Minister George Alogoskoufis and Employment Minister Vassilis Magginas.After the meeting, Magginas said they had discussed various aspects of reforming the pension system, in view of the start of dialogue with political parties, trade unions and employers. Asked when he intended to send invitations to begin dialogue, Magginas indicated that this would begin soon. Alogoskoufis did not make any statements after the meeting. [17] BoG governor says fiscal restructuring effort must continueBank of Greece Governor Nikos Garganas on Monday urged all social partners to act responsibly in order to contain inflation below 2.0 percent, while he called for continued fiscal restructuring and expansion of GDP growth in favor of all social classes and regions of the country.Speaking in Thessaloniki where he inaugurated the central bank's processing and money distribution center in the city, Garganas underlined that the Greek economy must become more export-oriented, as high growth rates and high borrowing rates cannot be sustained indefinitely. Commenting on unemployment, the central banker said the problem could be solved in the medium-term through structural changes, while he noted that significant steps have been made towards fiscal restructuring, although it was necessary to continue efforts, as the country still faced high deficits and debt along with a low savings rate. Moreover, he underlined that Greece must fulfill its commitment to presenting balanced budgets by 2010. Garganas expressed satisfaction over the fact that "in the last 12 years Greece posted significantly higher growth rates compared with the EU," gradually closing a gap with the average European living standard. He also noted that first-half growth was 4.3 percent and inflation around 2.8 percent, although Garganas said the Greek economy still faced several challenges, such as a high current accounts deficit. Finally, he declined to comment on the issue of social security reform and the 2008 draft budget, saying the central bank's positions will be included in its interim monetary policy report. [18] Greek employers urge extensive dialogue to solve social security problemGreek voters' message from the September 16 general elections was for the government to proceed more effectively with reforms and to stand closer to citizens, something that the Prime Minister pledged during his address in Parliament to present the new government's policy statements, the Federation of Greek Industries and Enterprises announced on Monday."The forces of labour - employers and employees - are supporting with their contributions a social insurance system that currently does not offer fundamental benefits and insurance to employees. At the same time, even the medium-term survival of the system is questioned. Resolving the problem, both in a socially fair and financially viable way, is everyone's responsibility, but to the benefit of us all," a Federation statement read. Conditions for finding a viable solution to the pension problem are an extensive and open dialogue aiming to result to decisions in a very short period of time. The state carries to biggest part of the responsibility for the system's current dead-end, with years of mismanagement leading to a downgrade of the system. The Federation noted that a dialogue on restructuring the social insurance system was largely a responsibility of social partners as well. "Labour forces must take initiatives to find a fair and viable solution," it said. [19] EU Political agreement on full deregulation of post office servicesLUXEMBOURG (ANA-MPA/M. Aroni)The European Union's Council of Telecommunications Ministers reached a political agreement here on Monday on the full deregulation of post office services as of January 1, 2013. Greece was represented at the meeting by Transport and Communications Minister Kostis Hatzidakis. The Council agreed to the full deregulation of post office services until 31.12.2010, with the possibility of a two-year extension (until 31.12.2012) for member-states having special geographic characteristics, such as Greece and Luxembourg. The possibility of an extension was also given to the new member-states, while Bulgaria, Estonia and Slovenia excluded themselves. Hadzidakis said in his address that Greece will make use of the two-year extension that it succeeded in securing following negotiations, proceeding with the complete opening of the post office market on January 1, 2013. [20] Agriculture ministry promises guidelines for farmers in fire-ravaged areasDeputy Agriculture and Foods Minister Constantine Kiltidis on Monday promised that the ministry would soon issue a set of written guidelines for farmers and stockbreeders in fire-ravaged areas, giving them information and advice on how to manage their farms in coming months so that these could recover. He said the written instructions would be disseminated by government farming technicians and agronomists.Kiltidis was speaking during a seminar for agronomists on the recovery of fire-ravaged areas in Patras. [21] Voulgarakis meets maritime unionsMerchant Marine and Island Policy Minister George Voulgarakis on Monday met with representatives of the International Maritime Union, the Union of Owners of Passenger Ships, the Union of Owners of Mediterranean Cargo Ships, retired captains as well as the president and board of the Seamen's Home.[22] Spiliotopoulos meets Greek tourism representativesTourism Development Minister Aris Spiliotopoulos on Monday met with representatives of unions of Greek tourism and discussed issues concerning the sector."It was a substantial meeting with all the representatives of the sectors which constitute Greek tourism. A meeting which shows that on the part of all sides, of the political leadership but also of the representatives of the labour sector and of the personnel of Greek tourism, there is a willingness for substantial cooperation, mutuality and the exchange of views," the minister said. [23] Papariga reiterates position in favor of state monopoly on domestic flightsCommunist Party of Greece (KKE) General Secretary Aleka Papariga again reiterated her party's support for a completely state-owned and operated Olympic Airlines, following a meeting on Monday with the board of the Association of Civil Aviation Pilots.Papariga cited KKE's firm position for a national carrier that meets all domestic flight needs without competition from a privately owned rival, as opposed to the current situation, adding that efforts should continue to expand and improve OA's international flights. "All previous governments and the current government have opted for the airline's commercialisation and privatisation within the framework of the market deregulation, she said in reference to the loss-making airlines. "Olympic Airlines has been broken down into pieces, losing its vertical organisation, while facing the risk of ceasing to exist regardless of whether it is sold to a private investor or shrunk even further." Papariga forecast decreased safety standards and service quality as a result of OA's demise. [24] SYRIZA party leader holds talks with Civil Aviation Pilots UnionRadical Left Coalition (SYRIZA) party leader Alekos Alavanos, speaking on Monday after holding talks with the Civil Aviation Pilots Union, said that the "policy of disdain and of the substantive dissolution of the Olympic Ailines must stop at last."Alavanos added that it cannot be that Greece should be one of the few countries in Europe that lack a national carrier of high quality. He further said that the company has great potential due to the tourist character of the Greek market, as well as to the role played by the country in general, in connection with other countries, and supported the public character of Olympic Airlines, as well as dignified salaries and the preservation of jobs for employees. [25] Cosmote's General Economic Director quitsThe General Economic Director of Cosmote, Ilias Fotiadis, quits the company.According to a Cosmote announcement on Monday, "agreement was reached today for the halting of cooperation between the company and the General Economic Director, Ilias Fotiadis." The announcement added that Cosmote's Deputy Managing Director, Michalis Tsamaz, thanked Fotiadis for his contribution and wished him every success in the future. [26] Power supply in Pieria Prefecture restoredPower supply is being gradually restored in regions of Pieria Prefecture, northern Greece, after power outages in the early morning hours on Monday as a result of damage caused to the Public Power Corporation SA (PPC) network by a thunderstorm.No flooding was reported, despite heavy rainfall, and most of the damage was limited to PPC electric power transformers. [27] National Bank eyes top spot in Serbian market, ArapoglouNational Bank aims to become the leading financial group in Serbia, the bank's chairman and chief executive Takis Arapoglou said on Monday.Speaking to reporters during a news conference held on the occasion of the opening of merger procedures between National Bank and Vojvodjanska Banka, the Greek banker said the new bank will be the second largest in Serbia (based on its branch network), while he did not exclude the possibility of new acquisitions in the local market. He noted, however, that there were no targets currently in Serbia. National Bank has invested more than five billion euros so far in southeastern Europe, with 40 percent of its proceeds coming from international activities and 10 percent from the Balkans. The bank aims to raise revenue participation in the region to 13 percent. Arapoglou said National bank will invest an additional 40 million euros over the next three years in Serbia, as part of a plan to restructure the bank, focusing on vocational training and new technology systems. National Bank is the 24th largest bank in European Union, based on its capitalisation, and amongst the 500 largest enterprises in the world. [28] Greek PMI up slightly in SeptemberGreece's Purchasing Managers' Index (PMI) rose slightly to 53.8 points in September, from 53.6 in August, confirming a steady pace of improvement in the manufacturing sector. The index measures business activity in the manufacturing sector. Readings above 50 indicate a growing sector, while below 50 a shrinking sector.Production levels in the Greek manufacturing sector grew further in September, recording the fastest growth rate since March, reflecting higher volume of new orders, particularly from abroad. Employment levels, however, eased for the first time in the last nine months in September, reflecting the retirement of workers during the month. Import prices rose faster in September, the fastest rate in 14 months, reflecting higher costs of oil, coffee and other raw materials. [29] ASE reinstates trading in PetzetakisThe Athens Stock Exchange on Monday rescinded a decision to suspend trading of Petzetakis SA, valid as of Tuesday Oct. 2. The listed company's shares will trade in the "surveillance" category.[30] Greek stocks end slightly higher on MondayGreek stocks ended the first trading session of the fourth quarter slightly higher in the Athens Stock Exchange. The composite index rose 0.22 percent to end at 5,134.69 points, the highest closing since March 6, 2000. Turnover was a strong 349.49 million euros.Most sectors moved up, with the Raw Materials (2.53 percent, Chemicals (2.49 pct) and Industrial Products (1.37 pct) scoring the biggest percentage gains of the day, while Oil (0.56 pct), Personal-Home Products (0.43 pct) and Constructions (0.05 pct) suffering losses. The Big Cap index rose 0.14 percent, the Mid Cap index ended 0.87 pct up and the Small Cap index rose 1.0 percent. Klonatex (9.68 pct), Hellenic Sugar (8.12 pct) and Mytilineos (7.5 percent) were top gainers, while United Textiles (6.67 pct), Hyatt (6.16 pct) and Viosol (6.06 pct) were losers. Broadly, advancers led decliners by 131 to 130 with another 38 issues unchanged. Sector indices ended as follows: Insurance: +0.74% Industrials: +1.37% Commercial: +0.74% Construction: -0.05% Media: +0.98% Oil & Gas: -0.56% Personal & Household: -0.43% Raw Materials: +2.53% Travel & Leisure: +0.03% Technology: +0.02% Telecoms: +0.89% Banks: +0.07% Food & Beverages: -0.05% Health: +0.45% Utilities: +0.54% Chemicals: +2.49% Financial Services: +0.92% The stocks with the highest turnover were National Bank, DEH, OTE and Cosmote. Selected shares from the FTSE/ASE-20 index closed in euros as follows: Alpha Bank: 24.70 ATEbank: 4.16 Public Power Corp (PPC): 28.00 HBC Coca Cola: 40.50 Hellenic Petroleum: 11.16 Emporiki Bank: 20.50 National Bank of Greece: 44.60 EFG Eurobank Ergasias: 24.60 Intralot: 28.68 Cosmote: 24.02 OPAP: 27.26 OTE: 26.34 Titan Cement Company: 35.96 [31] ADEX closing reportFutures contract prices ended mixed in the Athens Derivatives Exchange on Monday, with turnover a moderate 118.212 million euros. The December contract on the FTSE 20 index was traded at a discount of 0.99 percent while the September contract on the FTSE 40 index at a premium of 0.57 percent.Volume in futures contracts on the FTSE 20 index totaled 5,825 contracts worth 77.366 million euros, with 30,004 open positions in the market, while on the FTSE 40 index volume was 382 contracts worth 12.675 million euros, with 1,317 open positions. Volume in futures contracts on equities totaled 9,103 contracts worth 14.274 million euros, with investment interest focusing on ATEbank's contracts (1,621) followed by Eurobank (582), Marfin Investment Group (1,524), PPC (895), National bank (253), Mytilineos (466) and Marfin Popular Bank (675). [32] Greek bond market closing reportTurnover in the Greek electronic secondary bond market totaled 1.551 billion euros on Monday, of which 776 million euros were buy orders and the remaining 775 million euros were sell orders. The 10-year benchmark bond (July 20, 2017) was the most heavily traded security with a turnover of 420 million euros. The yield spread between the 10-year Greek and German bonds was 0.30 percent, with the Greek bond yielding 4.64 percent and the German Bund 4.26 percent.In the domestic interbank market, interest rates moved lower. National Bank's overnight rate fell to 3.90 percent from 4.25 percent on Friday, the two-day rate was 3.95 pct from 4.15 percent, the one-month rate was 4.40 percent and the 12-month rate was 4.75 percent from 4.73 percent. [33] Foreign Exchange Rates - TuesdayReference buying rates per euro released by the European Central Bank:U.S. dollar 1.434 Pound sterling 0.702 Danish kroner 7.514 Swedish kroner 9.267 Japanese yen 166.08 Swiss franc 1.673 Norwegian kroner 7.749 Cyprus pound 0.588 Canadian dollar 1.425 Australian dollar 1.615 General News [34] Fire in Megalopolis, Peloponnese under controlA wildfire that broke out in forest near Vaggos in Megalopolis, one of the areas of the central Peloponnese that were hardest-hit by the devastating fires in August, was reported to be fully under control on Monday.The fire broke out in four separate locations on Sunday, prompting the Megalopolis mayor to talk of deliberate arson. Strong fire-fighting forces remain in the region to guard against a possible rekindling of the flames. [35] Patriarch Theodoros II wraps up visit to missionary centers in AfricaPatriarch Theodoros II of Alexandria and All Africa returned to Egypt on Sunday after visiting the Democratic Republic of Congo and Congo-Brazzaville, which host some of the major Greek Orthodox missionary centers in the African continent.The head of the Christian Orthodox Church in Africa returned to his seat in Alexandria, Egypt via Addis Ababa where he met with Metropolitan Bishop Peter of Axum and Metropolitan Bishop Emmanuel of Khartoum and All Sudan. The Patriarch was received at the international airport of Addis Ababa by Greece's ambassador to Ethiopia. During his tour in the region, Patriarch Theodoros II inaugurated a French-speaking seminary in Kinshasa. A major missionary work is underway in the region with the construction of primary education schools, while the Patriarchate is aspiring to found agronomics and nursing personnel higher education schools. In addition, medical clinics are being built and scholarships are given to students to further their education. The foundations of a school to be built by the Greek Community in Kishasa next to the St. Mark Church were laid last Monday by the Patriarch while the construction of the St. Andreas cathedral is also underway in the city. [36] Trial for judicial corruption case adjourned until ThursdayThe trial before a Three-Member Criminal Appeals Court of former justices Evangelos Kalousis and Constantina Bourboulia and another seven people allegedly involved in rigging judicial proceedings has been adjourned until next Thursday.The accused in the case include the lawyers Sakis Kehagioglou and George Nikolakopoulos, seaman Vaios Evangelopoulos, businessmen Antonis Georgiou, Efstratios Palirakis and Sotiris Kritikos and Bourboulia's husband Thomas Amorgianos. They are charged with participating in a criminal gang, bribery, legalising income from illegal activities, breach of duty and abuse of authority. Meeting on Monday, the court rejected requests to adjourn proceedings submitted by most of the lawyers for the defence but said it would consider the request made by businessman Sotiris Kritikos. Kritikos also faces charges in another case now before a first-instance criminal court, for which Bourboulia had acted as examining magistrate and whose handling of the specific case is now under investigation. In his request for a delay, he said that the ruling of the first-instance court in this case should first be issued. [37] Bank employee slightly injured in armed robbery in Heraklion, CreteA young female bank trainee was slightly injured during an armed robbery on Monday morning ατ an Agricultural Bank of Greece (ATEbank) branch in Tympaki, Heraklion on the southern Aegean island of Crete.Three armed masked men raided the ATEbank branch,, firing once into the air, and took off with an unspecified amount of money in a private car with its license plates covered up. The young bank trainee, who is 5 months pregnant, was slightly injured in the palm of her hand and was rushed to the Venizelio Hospital. A police manhunt is underway to locate and arrest the robbers. [38] Suspected immigrant smuggler to face criminal chargesA Turkish national accused of immigrant smuggling was indicted on criminal charges on Monday, following his arrest on Saturday morning in the sea just off the Prasso headland on the Aegean island of Samos. The man is considered responsible for causing the shipwreck of a boat carrying 12 illegal immigrants.A coast guard vessel managed to collect all the shipwrecked immigrants and the smuggler unharmed and they were taken to Samos Hospital for first aid. Another 24 illegal immigrants, the majority from Afghanistan, were located by a coast guard vessel on Sunday as they were sailing off the Prasso headland, while another five were intercepted on Monday at Vathi harbour. All the immigrants have been taken to the reception centre for illegal immigrants on the island. [39] Two pupils use tutorial school phone to rack up 15,000 euros worth of sex line callsPolice in Hania, Crete have charged two 15-year-olds with accumulating more than 15,000 euros worth of premium phone services slapped on a private tutorial school's phone bill, following a complaint filed by the owner.The two minors were detained Saturday night after reportedly breaking into the tutorial school using a passkey. The pair allegedly used the tutorial school's fixed line telephone for up to five hours on numerous nights over the past month, racking up a phone bill of approximately 15,000 euros. The minors remained in police custody on Monday while their parents were charged with child neglect. [40] New SAE U.S. regional offices in Athens, WashingtonThe operation of the two new offices of the World Council of Hellenes Abroad (SAE) U.S. Region, in Athens and Washington, was announced by the Region's Coordinator Theodoros Spyropoulos."It concerns a new awareness regarding what SAE can offer to U.S. Hellenism and a part from the model approach in the Organizations' mission, as an advisory organ in the Greek State on issues which concern overseas Greeks all over the world," Spyropoulos said in an announcement. E-mail: sae-ath@otenet.gr [41] Cyprus National Guard donates 12,500 euros to Greek fire victimsNICOSIA (ANA-MPA - A. Viketos)Cyprus Defence Minister Christodoulos Pashiardes on Monday presented a cheque for 12,500 euros in aid for the victims of the summer's devastating fires in Greece to Greek National Defence Minister Evangelos Meimarakis, during their meeting at the Cypriot National Guard's General Staff headquarters. Pashiardes said the money was a symbolic sum collected from members of the National Guard. Meimarakis thanked him and stressed that Greeks on Cyprus and in Greece were joined in their struggles. [42] Greek-American businessman donates a million dollars to wildfire-affected inhabitants of GreeceGreek-American businessman Alex Spanos has donated one million dollars to the fund of the Archbishopric of America for the wildfire-affected inhabitants of Greece.The sum which has been gathered by the Holy Archbishopric is more than 2,7 million dollars, while the figure has not yet been counted of funds raised by the dioceses of the Archbishopric. Weather Forecast [43] Partly cloudy,windy on TuesdayPartly cloudy weather with notherly, northeasterly winds are forecast throughout the country on Tuesday with wind velocity reaching 7-8 beaufort.Temperatures will range between 10C and 27C. Partly clody in Athens, with strong, northerly, northeasterly 5-6 beaufort winds and temperatures ranging from 18C to 27C. Same in Thessaloniki, with temperatures ranging from 12C to 24C.Cyprus Affairs [44] President: National Guard consolidates securityNICOSIA (CNA/ANA-MPA)The Republic's armed forces, the National Guard, which acts as a deterrent, consolidates the feeling of security among the people and provides the country with the ability to continue efforts, through peaceful means, to solve the Cyprus issue, President of the Republic Tassos Papadopoulos stressed here Monday. He was speaking after the people of Cyprus, the armed forces and its leadership, in the presence of the political and military leadership of Greece, honoured on Monday the 47th anniversary since the nation's independence with an impressive military parade. Papadopoulos, flanked by Greek National Defence Minister Evangelos Meimarakis and Cypriot Defence Minister Christodoulos Pashiardis, took the salute of the parade, watched by the island's political, military and religious leadership as well as members of the diplomatic corps and thousands of people who waived in pride the Cypriot flag. In his statement, Papadopoulos congratulated the National Guard leadership and officials on the excellent appearance during the parade, noting that the "the deterrent, which the National Guard offers, strengthens the feeling of security among the people and gives us the ability to continue our efforts through political negotiations to solve the Cyprus issue". Today, he added, "we celebrate the 47th anniversary of our independence", adding "I repeat once again, we are entitled to and are proud of everything which we have achieved so far, in common and collectively, through hard work". The president expressed "reserved optimism for tomorrow and appreciation for yesterday and today". In his statement, Greek Defence Minister Meimarakis pointed out that cooperation between Greece and Cyprus is "excellent, frank, substantive and on many levels" and reiterated Greece's support. Meimarakis said it was an honour for him to represent the government of Greece at Monday's celebrations to mark the island's independence anniversary and thanked the government and the people of Cyprus for their support in handling the devastating fires that raged in Greece this summer. "This is proof of our strong, brotherly bonds which unite our people," the Greeek minister said, adding that Monday's parade also confirmed these bonds. "The excellent formation, the high morale of all those who participated proved that the Republic of Cyprus' defences and security are in very good hands". "We showed that Cyprus' protection from every threat is non-negotiable as far as we are all concerned," said Meimarakis, adding that "we match quantity with quality and high morale, injustice with justice, intransigence with understanding". He said that the Greek and Cypriot armed forces are forces of peace and play a stabilising role in the region, praising the role of both countries during last year's crisis in Lebanon. "Cooperation between the governments of Greece and Cyprus is excellent. Strengthening and maintening the joint defence pact confirms this", Meimarakis said, calling for "vigilance and a stable policy to secure a comprehensive, fair, functional and viable solution for reunification of Cyprus". Participating in Monday's parade were infantry, artillery and naval forces and members of the Greek military contingent stationed in Cyprus in accordance with the 1960 Treaty of Establishment of the Republic, the police, the fire brigade, the forestry and the civil defence services. [45] DM Meimarakis received by Cyprus President PapadopoulosNICOSIA (ANA-MPA/A. Viketos)Greece's national defence minister Evangelos Meimarakis was received on Monday morning by Cyprus president Tassos Papadopoulos, shortly after his arrival in Nicosia to represent the Greek government in celebrations marking the 47th anniversary of the Republic of Cyprus. The two officials exchanged views on the Cyprus issue, and discussed the Greece-Cyprus defence cooperation. Meimarakis said after the meeting that the ties between Greece and Cyprus were excellent, as was their cooperation in the efforts for a Cyprus solution that will lead to the reunification of the island republic. For Greece, the anniversary of Cyprus' independence is "a special anniversary and, with our presence here, we wish to send a message to everyone that the ties between Greece and Cyprus were, are and will remain excellent," Meimarakis said. Meimarakis further thanked the Republic of Cyprus and the entire Cypriot people for their strong support to Greece during the devastating wildfires during the past summer. The Greek minister will attend the military parade by the National Guard and visit the headquarters of the Greek Force in Cyprus (ELDYK), while he will also hold talks with his Cypriot counterpart Christodoulos Pashiardes. 36, TSOCHA ST. ATHENS 115 21 GREECE * TEL: 64.00.560-63 * FAX: 64.00.581-2 INTERNET ADDRESS: http://www.ana-mpa.gr * e-mail: anabul@ana gr * GENERAL DIRECTOR: GEORGE TAMBAKOPOULOS Athens News Agency: Daily News Bulletin in English Directory - Previous Article - Next Article |
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