![]() |
Compact version |
|
![]() |
![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() |
|
![]() |
Thursday, 15 August 2024
![]() |
||
![]() |
![]() |
|
Athens News Agency: Daily News Bulletin in English, 07-10-11Athens News Agency: Daily News Bulletin in English Directory - Previous Article - Next ArticleFrom: The Athens News Agency at <http://www.ana.gr/>Thursday, 11 October 2007 Issue No: 2720CONTENTS
[01] Bank of Greece says more reforms needed to maintain high economic growth ratesThe Bank of Greece on Wednesday tabled to Parliament and the cabinet its interim report on monetary policy for 2007. The report noted that the Greek economy, based on conditions of strong domestic and foreign demand, continues to grow with high rates this year, significantly exceeding the Eurozone and EU average rates for the 12th consecutive year. The central bank, in its report, estimated that the impact form a turbulence in international credit markets will be limited on the Greek economy, with GDP growth rate slightly up from 4.0 percent this year, after a 4.3 percent growth rate in 2006. Economic growth will continue to be based on domestic demand.Investments are expected to rise by 8.0 percent this year, slightly down from 2006 due to a significant slowdown in investments on new homes. Higher economic growth is accompanied by an 1.4 percent annual increase in employment in the first half of the year, while the unemployment rate fell to 8.6 pct of the workforce during the same period. The central bank said the contribution of external trade to GDP growth is expected to be negative this year, as in 2006, with the country's current accounts deficit expected to reach 14 percent of GDP in 2007, from 12.1 pct in 2006. This development reflects mainly a widening trade deficit, higher interest payments and a higher shortfall in the vessels balance. This negative trend overshadows improved developments in shipping and tourism foreign exchange receipts. A persisting high current accounts deficit and its funding with capital inflows from abroad has lead to a worsening of the country's negative net international investment position (the public and private sectors' net obligations abroad) to 92.2 pct of GDP at the end of 2006 from 51.1 pct at the end of 2001. The average annual inflation rate, measured by the harmonised consumer price index, is expected to ease this year, but the core inflation rate is expected to rise to 3.1 pct on average this year, from 2.9 pct in 2006, reflecting inflationary pressures from strong demand and higher labour cost per unit. Greek households' debt (including securitized loans) totaled 46.9 pct of GDP in August 2007, up from 44 percent in December 2006, but down from a 53.5 percent average in the Eurozone. However, the interest rate margin remains high in Greece (4.19 pct in July) compared with a 3.05 percent figure in the Eurozone. The Bank of Greece said the Greek credit system continued to enjoy a high degree of stability, based on return on equity, capital adequacy and liquidity indexes in the first half of the year. The central bank noted that credit risks eased in the system. The central bank, in its report, said the Greek economy continued facing macro-economic imbalances and structural weaknesses that needed to be dealth with effectively to ensure long-term economic growth and employment. The bank noted that a persisting high inflation rate and a widening current accounts deficit could be attributed to: high consumption and home buying investments, a declining international economic competitiveness of the country (because of higher labour costs) and a lower production capacity growth rate compared with domestic demand growth rate. The central bank bank, underlined that the Greek economy needed a transformation to ensure long-term high growth rates, from an economy based on domestic demand to an export-orientated economy. The main precondition for this transformation will be reducing macro-economic imbalances, such a continuing a fiscal consolidation effort and ensuring price stability. Also, the country needed to improve its savings rate and to improve the composition of its investments, while promoting structural reforms in the labour and product markets. Achieving significant primary surpluses in the coming years needs first to reduce primary spending on a permanent base and ensuring higher revenues. The central bank said a further reform of the tax system was also needed along with structural changes in spending. The Bank of Greece noted that reducing early retirement could significantly contribute in reducing imbalances and improving the financial position of social insurance funds, along with a better use of the country's workforce. A consolidation of social insurance funds will also help in the rationalisation of the system. The central bank also recommended measures to boost the country's demographic condition and strengthen the employment and productivity rates. The announcement by the government of a wide social and political dialogue towards reforming the pension system is unquestionably a positive step, the report noted. The central bank also urged that wage increases be compatible with a price stability policy and further deregulate domestic markets. The Bank of Greece said that average real wages grew markedly in the last decade, along with a significant convergence of average Greek wages with the Eurozone average level. [02] BoG submits interim economic and monetary report for 2007Central bank governor Nick Garganas on Wednesday submitted the Bank of Greece's interim economic and monetary report for 2007 to parliament president Dimitris Sioufas, describing the developments in the Greek economy as "positive", given that the high growth rate was continuing this year, while inflation was expected to be slightly lower in relation to the preceding year.Garganas noted, however, that macro-economic imbalances continued to exist, and needed to be decisively confronted both by the economic staff and by the social partners. "There is a significant increase in employment, but unemployment, particularly among the youth, remains at a high level. It is necessary to conitnue with the fiscal economic policy so as to contain inflation at below 2 percent. Also, the structural changes are also at risk, and consequently the productive dynamic of the economy must be strengthened and upgraded so as to create new jobs," Garganas added. Sioufas called the Bank of Greece governor's comments regarding positive developments in the Greek economy as "positive and pleasing", stressing in particular Garganas' reference to the need for continuation of the changes and reforms so as to achieve long-term stability and consolidate a climate of confidence in the economy. [03] Left-wing parties react to central bank's interim reportThe left-wing parties in Parliament sharply criticised the interim report on monetary policy released by the Bank of Greece on Wednesday, particularly its references to pension system reform."The Bank of Greece governor, as is well known, expresses the goals of capital to be rid of social insurance, which it considers a burden, and generally to rapidly push through all the reactionary 'reforms'. His positions are identical with the Analytis proposals, the statements by European Union Commissioner Joaquin Almunia, and the policy platforms of New Democracy and main opposition PASOK," the Communist Party of Greece (KKE) said in an announcement. The Coalition of the Radical Left (SYRIZA) said the report for yet another year "looked like an extreme neoliberal and anti-working-class manifesto" that hoped to usher in a shift of government policies in an antisocial direction. "There is an impressive coincidence of views between the central bank governor and the proposals of Mr. Analytis, which demolish the pension system," SYRIZA MP Panagiotis Lafazanis noted. Lafazanis was strongly critical of the report's emphasis on supposed high labour costs and "labour market inflexibility" as a reason for the ever-decreasing competitiveness of the Greek economy and claimed that the report was simultaneously glossing over the negative role of Greek banks and what he called their "robber tactics and abusive methods". According to the MP, these were deeply harmful for both depositors and borrowers, as well as the entire economy. [04] PM chairs inner Cabinet meeting on action prioritiesPrime minister Costas Karamanlis on Wednesday chaired an inner Cabinet meeting focusing on the government's work priorities.Environment, Town Planning and Public Works Minister George Souflias commented afterwards that among the issues discussed was the implementation of the government policy statement, while a wide spectrum of ministry-related issues were also examined. Leaving the meeting, Foreign Minister Dora Bakoyannis responded negatively to a question by reporters on whether developments in main opposition party PASOK affect the government's work and expressed the wish that the crisis faced by the opposition will be overcome. Government spokesman Theodoros Roussopoulos later confirmed that the meeting had focused on action priorities and coordinating efforts to carry out the actions announced in the government's policy statement. Asked whether the major issues would be settled by next Easter, the spokesman said the government's aim was to press ahead with all the pledges made in the pre-election period, adding that he will announce which bills had first priority and would be completed by the end of December. Regarding social insurance reform, he stressed that the government's previous statements regarding this issue still applied: "A process of dialogue has begun. We are not prepared to push the time for such major issues," he underlined. He also clarified that the inner cabinet had not discussed planned changes to election law, adding that this was an issue that would be discussed in the next one or two months since other issues took precedence. [05] Greek gov't again expresses concern over illegal immigration issueThe Greek government on Wednesday confirmed that the number of illegal immigrants being intercepted while attempting to enter the country's territory is increasing on almost a daily basis, as the issue has again generated heightened concern in Athens in recent weeks.Government spokesman Theodoros Roussopoulos pointed to increasing numbers of detentions and deportations, speaking at his normal press briefing a day after a high-level ministerial meeting convened to examine the illegal immigration problem -- and days after the foreign ministry chided neighboring Turkey for failing to adequately patrol its borders with EU member-state Greece. The latter development came after Turkish government circles claimed Greek law enforcement authorities were herding illegal migrants back onto Turkish territory after intercepting them on the high seas, a claim reproduced by Turkish media. Roussopoulos added that Greece is at the forefront of EU efforts to deal with the issue, while he cited recent comments by French President Nicolas Sarkozy over the need to strengthen the Union's external borders. Finally, he stressed that Greek Prime Minister Costas Karamanlis has promoted greater security for the Union's external borders even before he was elected as Greek premier, in his capacity as a vice-president of the European People's Party (EPP). FYROM issue In an unrelated development, Roussopoulos reminded that the Greek government has never considered the FYROM "name issue" an "easy battle", in response to a press question on Greece's position following a slightly bizarre statement by UN mediator Matthew Nimetz days ago -- who enunciated his personal view of Alexander of Great as a negative historical figure -- as well as reported same-day comments by US Deputy Assistant Secretary Rosemary DiCarlo. DiCarlo is quoted by local Skopje media as saying that the 'name issue' will not pose a barrier to Skopje's course towards the Alliance, as she arrived on Wednesday in the FYROM capital for talks with the country's leadership. Roussopoulos reiterated that Greece has repeatedly outlined its standing position over the Former Yugoslav Republic of Macedonia's (FYROM) NATO prospects. Finally, the government spokesman merely expressed his best wishes towards Archbishop Christodoulos, who remains hospitalised in Miami, Florida for treatment of liver cancer. He declined, however, to comment on any issues involving the Autocephalous Church of Greece. [06] FM Bakoyannis receives Turkish envoy promoting Izmir's EXPO 2015 bidForeign Minister Dora Bakoyannis on Wednesday received Turkish Foreign Ministry special envoy Ambassador Haydar Berk, who has been appointed to promote the candidacy of the city of Izmir for hosting the EXPO 2015.Berk delivered a letter to Bakoyannis signed by her Turkish counterpart Ali Babacan on Izmir's bid to host the EXPO 2015 exhibition. [07] Parliament president discusses parliamentary upgrade with KKE, SYRIZA leadersParliament president Dimitris Sioufas met separately Wednesday with Communist Party of Greece (KKE) leader Aleka Papariga and with Coalition of the Radical Left (SYRIZA) leader Alekos Alavanos, in his ongoing meetings with political leaders aimed at upgrading the parliament and the role of the MPs.Sioufas, who was recently elected to the helm of the new 300-member parliament that emerged from the September 16 general elections, said that his meetings with the political party leaders was not only symbolic, but also of substance "because I believe that the parliament must be upgraded, but also the role of the parliamentary deputies". He said he was seeking the political leaders' imput, ideas, views and cooperation, adding that such meetings would continue, aiming at good cooperation for upgrading parliament at all levels. Sioufas also reaffirmed the statement he had made immediately upon the assumption of his duties as parliament president that he will be a president of parliament of all the political wings, stressing that "I meant it, and that is what I will do". Papariga, after the meeting at the KKE offices in the parliament building, commented that the upgrading of parliament did not depend only on the House's presidium, but also on all the MPs in their entirety, and consequently a role and a say needed to also be given to the parliamentary deputies. Alavanos, after his own meeting with Sioufas at the SYRIZA offices inparliament, expressed hope that during this new parliamentary season the difficulties faced in the past will be pinpointed and overcome "with greater wisdom" so that the parliament may carry out its functions in the best possible way. [08] Ministerial decision for repair of fire-damaged homesEnvironment and Public Works Minister George Souflias on Wednesday signed a joint ministerial decision outlining the terms and conditions under which fire victims will qualify for free state funding in order to rebuild or repair buildings damaged during the last summer's devastating fires.The areas eligible for such aid include the prefectures of Ilia, Messinia, Lakonia, Arkadia, Corinth, Evia, Attica, Aitoloakarnania, Magnesia, Achaia, Argolida, Larisa, Arta, Thesprotia, Zakynthos, Fthiotida, Kefallonia and Viotia. Claimants can be the owners or those with ownership rights to a property whose right of use belongs to another, provided that the building in question had not been abandoned prior to the fires and lies within a fire-stricken zone. According to Souflias, the money given will allow owners to cover the costs of repairs and rebuilding and he indicated that the compensation had been set at 750 euros per square metre and would match the area of the home burnt down up to a maximum of 120 square metres. The sum would be increased to 950 per square metre for listed buildings and those within traditional settlements. For some families it will also allow an increase in the size of home, with limits set at 65 square metres for a two-person family, 80 square metres for three-member families and 95 square metres for families of four or more members, even if their original home were smaller. The decision also stipulates that the new homes will not exceed two storeys, will have tile roofs, proper insulation, wooden or wood-effect shutters, solar panels and will follow traditional styles or the relevant presidential decrees for traditional settlements. The studies and building permission will also be exempt from all charges and taxes, while the fee for civil engineers is reduced by half. In order to ensure transparency, the funds will be released in three installments, according to the progress of the work. [09] 'One Environment for Europe' ministerial meeting in BelgradeBELGRADE (ANA-MPA/N. Pelpas)The need for the existence of a specific policy for the protection of the environment for the next three to five years was expressed at the 6th Ministerial Meeting "One Environment for Europe", which is being held in Belgrade. At the end of Wednesday's session, the ministers adopted a joint statement which describes the main direction for the further implementation of the Strategy for Education for Sustainable Development. Greece is being represented at the meeting by Deputy National Education Minister Spyros Taliadouros. On a national level, he noted the "excellent cooperation between the Education and Environment ministries for the implementation of the Strategy." Taking part in the meeting are representatives from the 56-member-states of UNECE, inter- governmental organizations, non-governmental organizations, regional environmental centres and other related agencies. The meeting will end on Friday with the adoption of a joint communiqué on the environment. [10] Justice minister outlines goals for justice sector, prisonsJustice Minister Sotiris Hatzigakis outlined his goals with respect to justice and the judicial system in a press conference on Wednesday.Among these he listed completing the cleansing of justice from corruption, speeding up the delivery of justice and taking the legislative and administrative measures required to reform and modernise the legal framework regulating its organisation and operation. As part of this effort he also referred to an upgrade of infrastructure like buildings, computer systems for justice ministry services and reforms of the correctional system. Hatzigakis noted the need to respect and protect the operation of justice but also stressed the need to complete the process of weeding out corruption, adding that this "will lead justice to calm waters and instill in society a feeling of security that justice will be delivered". On this score, he stressed that no one would be let off the hook but also noted the need to end the turmoil in justice, stressing that this benefited neither justice nor the general public. [11] PASOK leadership contender Skandalidis unveils policy platformTop main opposition PASOK deputy Costas Skandalidis, one of three main contenders for the party's leadership, on Wednesday presented his political platform ahead of the November 11 party election, saying his candidacy came at a moment when "the procedure for electing a party president was assuming a personal character, leading to polarisation and leaving out substance."Speaking during a press conference, the former minister and party secretary added that the whole procedure should assume a "clear political character, without creating dividing lines and leading to inter-party conflicts without any substance." "What scares me more than defeat is a tendency to turn to the past," Skandalidis said, making an indirect reference to criticism aimed at former prime minister and ex-party president Costas Simitis' governments between 1996 and 2004. Asked to name what sets him apart from the other two contenders, namely, current leader George Papandreou and Thessaloniki-area deputy Evangelos Venizelos, Skanadalidis said: "What I say, what I represent, what I commit myself to, what I have been steadfastly proposing in all my historical course ... I am absolutely committed to being elected PASOK's president," he said. Referring to an eventual participation of grassroots PASOK supporters, apart from registered party members, in the election procedure, Skandalidis tabled a handful of questions to his rivals concerning citizens' future status in relation to party structures. "I consider no one as my opponent," he emphasised, while responding to a question over what his decision would be in case of a second election round, saying that "the policy of the second round will depend on the policy formulated during the party's national conference on November 2-4, and the result of the first round." Skandalidis appeared certain that there would be a second round, predicting at the same time that he will be present in the second round. [12] Inauguration of renovated European Parliament buildingThe European Parliament's office in Greece will inaugurate its renovated building in Amalias street in Athens on Friday, October 12.The building, known as the Mavromihalis Mansion, was built in 1870 and acquired by the European Parliament in 1991 and holds a special position in the history of the Greek capital, since it has provided hospitality for important personalities in modern history. It constitutes a characteristic specimen of the architecture of the time and decorates modern-day Athens. The building will be inaugurated by the European Parliament's first vice president Rodi Kratsa, representating of the European Parliament president, Hans Gert Petering, in the presence of the European Parliament's vice president Merthschild Roth and all of the Greek Eurodeputies. Parliament President Dimitris Sioufas will be receiving Roth on the sidelines of the event. [13] Deputy FM Doukas meets Russian envoyDeputy Foreign Minister Petros Doukas met on Wednesday with Russian Ambassador to Greece Andrey Vdovin.According to a ministry press release, the two sides ascertained the need for further development of bilateral economic relations, while it was also agreed that a date should be set in the near future for the Joint Greece-Russia Inter-ministerial Committee to meet. A forthcoming Moscow visit by Doukas, accompanied by Greek businessmen was also discussed. [14] Ecumenical Patriarch meets Turkish culture ministerISTANBUL (ANA-MPA/A. Koukoulas)Ecumenical Patriarch Vartholomeos on Wednesday discussed with Turkish Culture and Tourism Minister Ertugrul Gunay issues related to the facilitation and the granting of permits for the conducting of services in old Orthodox churches in Asia Minor. The meeting was held in a spirit of understanding and good will and Vartholomeos underlined that the Patriarchate contributes to religious tourism in the broader regions. [15] PASOK leader holds phone talks with Ecumenical PatriarchMain opposition PASOK leader and Socialist International (SI) president George Papandreou had a telephone conversation on Wednesday with Ecumenical Patriarch Vartholomeos, in view of the latter's recent meeting with Turkish President Abdullah Gul. Papandreou, who was briefed on the results of this meeting, expressed his undivided support to the Ecumenical Patriarchate.Papandreou assured Vartholomeos that he will continue his efforts for the support of all the rights of the Ecumenical Patriarchate, both on a bilateral level with Turkey as well as on an international level within the framework of the European Parliament, the European Socialist Party and of Socialist International. [16] Garganas calls for urgent resolution of pension problemBank of Greece's governor Nikolaos Garganas on Wednesday urged all interested parties to work towards resolving the pension problem "here and now". Presenting the bank's interim report on monetary policy for 2007, Garganas underlined that Greek taxpayers cannot afford the burden of funding the pension system through the state budget, particularly after 2015 and noted that emphasis should be given not on how the budget could cover social spending but on how to restrain social spending.The central banker noted that an effective resolution of the pension problem will need changes in the system's parameters, such as the retirement age, contributions and capitalization systems. The central bank's report, however, recommends more mild measures aimed at improving the viability of the pension system, such as limiting early retirement, consolidation of social insurance funds and developing the capitalization pylon of the system. Garganas sounded optimistic over the course of the Greek economy, except from the current accounts deficit which is projected to reach 14 percent of GDP this year, from 12 percent in 2006. The central banker sounded a warning note over this development, saying "we are eating tomorrow's bread". He added that this negative development mainly reflected the Greek economy's low structural competitiveness and a continuing decline of its international competitiveness due to a high inflation rate in the country. Commenting on the country's public finances, Garganas said targets set by next year's budget were feasible, although he recommended fiscal discipline and reducing deficits even after 2010. Commenting on developments in the credit system, Garganas said Greek banks were not directly exposed to the subprime loans crisis hitting the US and global markets and noted that the impact from the crisis on the Greek economy was limited. He noted that the percentage of non-performing loans fell to 5.6 pct in the first half of 2007, from 6.0 percent in December 2006. [17] PASOK spokesman on statements by Bank of Greece governorMain opposition PASOK party spokesman Yiannis Raggousis commented on Wednesday on statements made by Bank of Greece Governor Nikos Garganas regarding the economy and the social security issue."The views and the proposals by the Governor of the Bank of Greece, Nikos Garganas, both on the economy and the social security issue, are known. If something continues to be unknown, it is the positions of the Karamanlis government on the social security issue," the spokesman said. Raggousis added that "the statements by the government spokesman and the relevant ministers on this issue do not constitute an example of responsibility for a government that is trying to convince that everything will be handled in the framework of a supposed dialogue. One participates in a dialogue responsibly only with positions and proposals." [18] Commission endorses reform of supplementary pension regime in Greek banking sectorBRUSSELS (ANA-MPA)The European Commission on Wednesday announced that it has approved the optional transfer of a supplementary pension regime of certain banks to the general social security regime in Greece, saying it was compliant EC Treaty rules on state aid. According to a press released issued on the Commission website, an investigation found that conditions for transfer would not give any economic advantage to the banks concerned by the reform. "I am pleased to approve a structural reform which aims at securing the sustainability of a pay-as-you-go pension system through the enlargement of the basis of affiliated persons," Competition Commissioner Neelie Kroes was quoted as saying. The decision referred to notification by Athens in September 2006 of the optional transfer of the supplementary pension regime of certain banks to the general social security regime. "Whereas employees of all banks are insured for their main pension with IKA-ETAM, the general social security body for main pensions, the supplementary pension insurance in the banking sector is currently rather fragmented. Bank personnel recruited before 1 January 2005 are affiliated for their supplementary pension either to ETEAM, the general social security body, or to separate insurance bodies, depending on the banks they work for," the Commission stated, adding: "The reform aims at providing legal certainty for bank employees and ensuring, in particular, that pensions will be available and adequate. The reform would establish a new legal entity governed by public law called ETAT (the Single Insurance Fund for Bank Employees), which would benefit from the guarantee of the Greek State. ETAT will be responsible for updating and processing the social security cases of bank personnel and will act as a link and mediation body between the bank personnel, ÉÊÁ-ÅÔÁÌ and ÅÔÅÁÌ. Banks currently outside the general social security regime for supplementary pensions would have the possibility to opt for their separate insurance body to be merged into ETEAM. In the latter case, the persons insured at the supplementary insurance body would be automatically affiliated to ETEAM. In particular, their basic supplementary pension rights, which correspond to the supplementary pension rights served by the general social security regime would be transferred to ETEAM in exchange for the compulsory payment of employers' and employees' legal contributions. The specific supplementary pension rights, which are the rights over and above the basic supplementary pension rights, would be taken over by the social security bodies ETEAM and ETAT in exchange for a lump sum. The Commission's role is to ensure that the reform does not confer any economic advantage to the banks that will opt for integration. The Commission has come to the conclusion that ETAT does not perform an economic activity within the meaning of Articles 87 and 88 of the EC Treaty. As a consequence, the state guarantee that it enjoys as a legal person governed by public law falls outside the scope of application of EC Treaty state aid rules (Article 87 (1)). "The Commission's investigation of the method presented by the Greek authorities to evaluate the specific supplementary pension rights that will be taken over by ETEAM and ETAT found that the banks concerned will fully finance the additional financial charges incurred by ETEAM and ETAT," the Commission press release read. To read the original entry see: http://www.europa.eu/rapid/pressReleasesAction.do?reference=IP/07/1470&format=HTML&aged=0&language=EN&guiLanguage=en [19] Finance, development ministers discuss joint responsibility issuesFinance and Economy Minister George Alogoskoufis and Development Minister Christos Folias discussed issues of joint responsibility during a meeting held at the finance and economy ministry on Wednesday afternoon.[20] Greek FinMin urges for closer cooperation of statistics servicesGreek Economy and Finance Minister George Alogoskoufis on Wednesday urged for a closer cooperation between the National Statistics Service and Eurostat to avoid any difference of views over national account figures in the future.Speaking to reporters, Alogoskoufis said there was not issue with the head of the National Statistics Service, noting however that there was some kind of a communication gap between NSS and Eurostat. He also added that a revision of national accounts should be made every five years to avoid any such problems in the future. The Greek minister said that a difference between the national statistics service and the EU executive's statistics agency over a revision of Greek GDP was a technical issue. Commenting on a Eurogroup and an ECOFIN council meetings in Luxembourg, on Monday and Tuesday, Alogoskoufis said both meetings discussed economic conditions in Europe and the rest of the world. [21] Greek exports up 1.1 pct in August, yr/yrGreek exports grew by 1.1 percent in August, compared with the same month last year, while imports fell by 2.0 percent over the same period, the National Statistics service said on Wednesday.The statistics service said the value of export-deliveries rose by 7.8 percent in the 12-month period from September 2006 to August 2007, compared with the previous 12-month period, while the value of import-arrivals grew by 10.7 pct over the same period. [22] Greek industrial production index down 0.4 pct in August, yr/yrGreece's industrial production composite index fell by 0.4 percent in August, compared with the same month last year, the National Statistics Service said on Wednesday.The statistics service attributed the decline to a 0.2 percent fall in the manufacturing production index, a 4.7 pct decline in the mining production index and a 0.2 percent fall in the electricity-natural gas-water production index in August. NSS said the energy production index grew 2.1 percent in August, compared with the same month in 2006, while the intermediate goods production index fell 2.7 percent, the capital goods index dropped 6.1 pct and durable goods production index plunged 20.8 percent. [23] Athens hotels' occupancy rates up 6.6 pct in August, yr/yrAthens hotels recorded a significant increase in room occupancy rates in August, with the city further improving its position in the European Benchmark during the summer months of the year.A monthly report by the Association of Athens-Attica Hoteliers said that five-star hotels recorded an 11.5 percent increase in room occupancy rates in August, four-star hotels rose 6.3 percent, three-star hotels were up 7.5 percent and two-star hotels rose 5.5 percent. According to the European Benchmark, Athens hotels recorded a 6.4 percent increase in occupancy rates in the period June-August, while revenue per available room grew by 10.9 percent over the same period, while August figures were 6.6 percent and 12.7 percent, respectively. The European Benchmark noted that although Rome, Barcelona, London and Amsterdam recorded lower average occupancy rates in August, their revenue per available room grew spectacularily during the month. [24] 'Florina 2007' exhibition gets under wayThe 1st "Florina 2007" exhibition began on Wednesday and aims at strengthening the extroversion of businesses of Florina prefecture, western Macedonia, the promotion of the region's products and tourism attractions.The exhibition, at the Neo Dimotiko Park, covers the sectors: homes, equipment, tourism, food-stuff and cars. Taking part in the exhibition, which will last until October 14, are 50 businesses from Florina prefecture. The initiative for organizing the event was taken by the local Chamber of Commerce and Industry. [25] Greek stocks end 0.21 pct lowerGreek stocks eased on Wednesday, as investors took profits after a nine-day rally in the Athens Stock Exchange. The composite index fell 0.21 percent to end at 5,236.17 points, with turnover a heavy 781.46 million euros, of which 364.2 million euros were block trades.Most sectors ended lower, with the Personal/Home Products (2.02 pct), Telecommunications (1.32 percent) and Financial Services (0.69 pct) suffering the heaviest percentage losses of the day, while Utilties (3.14 pct), Oil (0.42 pct) and Raw Materials (0.28 pct) scored gains. The Big Cap index was unchanged, the Mid Cap index fell 0.55 percent and the Small Cap index rose 0.47 percent. AEGEK (11.59 pct) and Ippotour (8.64 pct) were top gainers, while Atermon (7.81 pct), Galis (7.69 pct) and Allatini Ceramics (6.78 pct) were top losers. Broadly, decliners led advancers by 149 to 93 with another 56 issues unchanged. Sector indices ended as follows: Insurance: -0.38% Industrials: -0.22% Commercial: +0.16% Construction: -0.13% Media: -0.48% Oil & Gas: +0.42% Personal & Household: -2.02% Raw Materials: +0.28% Travel & Leisure: +0.24% Technology: +0.10% Telecoms: -1.32% Banks: +0.08% Food & Beverages: -0.23% Health: -0.08% Utilities: +3.14% Chemicals: -0.08% Financial Services: -0.69% The stocks with the highest turnover were Piraeus Bank, Bank of Cyprus, Marfin Popular Bank, DEH and National Bank. Selected shares from the FTSE/ASE-20 index closed in euros as follows: Alpha Bank: 25.08 ATEbank: 4.10 Public Power Corp (PPC): 29.10 HBC Coca Cola: 40.50 Hellenic Petroleum: 11.34 Emporiki Bank: 20.42 National Bank of Greece: 45.60 EFG Eurobank Ergasias: 26.20 Intralot: 29.20 Cosmote: 24.76 OPAP: 28.20 OTE: 25.54 Titan Cement Company: 35.42 [26] Greek bond market closing reportTurnover in the Greek electronic secondary bond market totaled 2.027 billion euros on Wednesday, of which 882 million euros were buy orders and the remaining 1.145 billion were sell orders. The 10-year benchmark bond (July 20, 2017) was again the most heavily traded security with a turnover of 930 million euros. The yield spread between the 10-year Greek and German bonds was 0.26 percent, with the Greek bond yielding 4.63 percent and the German Bunds 4.37 pct.In the domestic interbank market, interest rates moved higher. National Bank's overnight rate rose to 3.95 pct from 3.85 pct on Tuesday, the two-day rate eased to 4.0 pct from 4.02 pct, the one-month rate was 4.30 percent and the 12-month rate rose to 4.70 pct from 4.69 pct. [27] ADEX closing reportTurnover rose to 133.291 million euros in the Athens Derivatives Exchange on Wednesday while futures contract prices maintained their discount. The December contract on the Big Cap index was traded at a discount of 1.13 percent and the September contract on the Mid Cap index at a discount of 0.06 percent.Volume in futures contracts on the FTSE 20 index totaled 5,266 contracts worth 72.294 million euros, with 32,893 open positions in the market, while on the FTSE 40 index volume was 705 contracts worth 23.793 million euros with 1,771 open positions. Volume on futures contracts on equities totaled 7,867 contracts worth 12.329 million euros, with investment interest focusing on Marfin Popular Bank's contracts (933), followed by Marfin Investment Group (765), PPC (748), National Bank (246), Intracom (610), Mytilineos (303) and ATEbank (786). [28] Foreign Exchange Rates - ThursdayReference buying rates per euro released by the European Central Bank:U.S. dollar 1.425 Pound sterling 0.698 Danish kroner 7.511 Swedish kroner 9.226 Japanese yen 167.38 Swiss franc 1.685 Norwegian kroner 7.758 Cyprus pound 0.588 Canadian dollar 1.399 Australian dollar 1.588 General News [29] Archbishop Christodoulos to remain in Jackson Memorial Hospital for 1-2 weeksNEW YORK (ANA-MPA - P. Panagiotou)Archbishop of Athens and All Greece Christodoulos will stay in a room at the Jackson Memorial Hospital in Miami for one or two weeks, according to doctor Andreas Tzakis, who stressed that his post-operational condition is developing well and that he can walk without any help. Attending doctors are waiting for the results of laboratory tests to enable them to decide on the nature of therapeutical options that they will propose to the Archbishop. Meanwhile, the Holy Regional Synod of the Archdiocese of America expressed its "wholehearted support" for Archbishop Christodoulos during its opening session on Wednesday, according to a relevant announcement. [30] Church of Greece sends solidarity letter to ArchbishopHigh clergymen of the Church of Greece prepared a letter of solidarity for Archbishop of Athens and All Greece Christodoulos on Wednesday, that will be taken to Miami, in the United States, by the Metropolitans of Kalavryta and Kozani Amvrosios and Pavlos.In their letter, the clergymen assure the Archbishop that "all of them, as well as the Clergy and the people are praying to God to enable him to have his valuable health back again, to return to the fatherland soon, strong in both body and spirit, and to exercise his duties." During the session of the Holy Synod on Wednesday, on the second and last day, the Metropolitan of Zakynthos Chrysostomos read his report on the theme of "The Church and the Environment." In another development, the Patriarch of Alexandria Theodoros II, who is currently on an official visit to Russia, and the Patriarch of Moscow and All Russia Alexiy II extended their warm wishes from Moscow on Wednesday for the speedy recovery of Archbishop Christodoulos. Lastly, Archbishop of Cyprus Chrysostomos expressed his "shock" over developments concerning the health of Archbishop Christodoulos. "At a time when we were waiting for the transplant, the bad news came," he said. Archbishop Chrysostomos said that in the past years there had been good cooperation with the Archbishop of Athens, who was "always interested in the issue of Cyprus." In addition, he said that he will communicate by phone with Archbishop Christodoulos and that he will visit him when he returns to Athens. He also referred negatively to talk of the succession of the Archbishop of Athens, saying that "the holy brothers are not doing well in raising such an issue at a time when the Archbishop needs support and love." [31] Athens mayor presents city's flood protection planAthens Mayor Nikitas Kaklamanis on Wednesday presented the City of Athens Flood Prevention Operational Plan at a press conference held at City Hall.Outlining the comprehensive Callirhoe Flood Prevention Operational Plan - designed to cope with rain as an extreme weather condition - for urban areas, the mayor said its goal was to protect human lives and avert the flooding of homes and businesses. He also stressed the need for cooperation on the part of the public and noted that the municipality could not replace the state but only assist its efforts. Kaklamanis also underlined that the environment and public works ministry had not yet cleaned all storm drains, that Attica had not yet received money for this purpose and that he had sent a letter about this to the environment and finance ministries. The plan's basic aims of the Callirhoe plan as concerns the City of Athens, are: · Digital documentation of areas covered by the City of Athens Geographical Information System which have flooded in the last two years · A rapid warning system for floods involving cooperation between the City's Everyday Issue Management Organisation (OAKP) and state services · Ensuring preparedness of municipal service personnel involved in the plan · Ensuring preparedness of municipal rapid response vehicles · Inspection of areas which have flooded in the recent past in an effort to work out on-the-spot technical solutions · Distribution of guides outlining what citizens must do to prevent and cope with flooding · Flood prevention works at specific points throughout the city as deemed necessary by municipal officials · Monitoring of stormwater drain and gully clearing in cooperation with the Environment and Public Works Ministry · Involvement of the City's volunteers [32] Tourist minister inaugurates Art and Culture Centre in MaroussiTourist Development Minister Aris Spiliotopoulos on Wednesday inaugurated the Art and Culture Centre in the Attica municipality of Maroussi, together with the Mayor of Maroussi and President of the Municipal Culture Corporation George Patoulis.Speaking during the ceremony, the minister said that it is "a project that will promote the city's role in cultural events and will contribute to the promotion of art and culture, encouraging all citizens, and the young generation in particular, to deal with our national tradition, arts and literature, education and culture." Spiliotopoulos said that the operation of the Art and Culture Centre will promote culture in the wider region, embracing those who are seeking a cultural home. The minister further said that the vision for Greek tourism wants development, investments, the creation of jobs and income for all, it wants local societies to be supported, Greek cultural characteristics to be protected and tradition to be continued. [33] 1st US-Balkan Forum on Missing Children opens in AthensViolence against children, in any form, is the most extreme and abhorrent form of violence and one of the most blatant instances of violation of Human Rights, which harms the core of democracy and civilisation, interior minister Prokopis Pavlopoulos said Wednesday, addressing the first US-Balkan forum on missing children, organised in Athens by the International Centre for Missing and Exploited Children (ICMEC) and the Greek non-governmental organisation The Smile of the Child.As such, he continued, the degree of effectiveness in confronting such violence was inalienably linked to the quality of the Just State. Pavlopoulos noted the increase in incidents of missing and exploited children, and of the financial and sexual exploitation of children in recent decades, stresssing that the drafting and implementation of integrated policies aimed at shielding the rights of children from modern-day dangers was imperative. In that framework, he added, the contribution of international organisations with experience in that area, particularly of the specialised non-governmental organisations, was exceptionally important. Greece's interior ministry, both at Greek Police level and at all other services levels dealing with the various aspects of this phenomemon, such as underage illegal immigrants, trafficking victims or exploited underage girls, was working smoothly and effectively with the relevant international organisations, particularly with the International Centre for Missing and Exploited Children, and also with The Smile of the Child. Pavlopoulos further outlined the measures that have been taken by Greece at institutional and operational level for prevention of and combatting violence against and exploitation of minors. [34] State of Victoria legislation protects Greek character of downtown Melbourne streetMELBOURNE- (ANA-MPA / S. Hatzimanolis)The government of the State of Victoria is mulling the adoption of legislation guaranteeing the Greek character of downtown Melbourne's Lonsdale Street, which is at risk of becoming another "Chinatown" due to a Chinese business invasion. The state government, in cooperation with municipal authorities in Melbourne, wishes to preserve the city's so-called "Greek corner" both for historical and tourist reasons. Based on a new legislation, local businesses will be compelled to preserve the Greek character of Lonsdale Street, while talks are underway suggesting that the Greek Consulate, Greek banks and organizations should be housed in the Melbourne Greek Community building located in the area. [35] HFC meeting on contemporary museum policyThe works of Greek artists are rarely seen on display in major European museums, which appear reluctant to host works of art that are little known or even unknown to the wider public regardless of their artistic value.National Gallery Director and Hellenic Foundation for Culture (HFC) executive board member Marina Lambraki-Plaka made the observation on Monday addressing European and Greek museum directors in a meeting on "Eclecticism and polymorphism in contemporary museum policy" organized in the Byzantine Museum in Athens at the HFC initiative. HFC President Prof. Georgios Babiniotis also referred to the insuperable obstacles in the effort to export Modern Greek art works. [36] 'Culture in the Balkans: Past and Present'The Hellenic Cultural Foundation in Athens will organise a three-day event titled "Culture in the Balkans: Past and Present", at the Athens Concert Hall from October 17-19.The event is organized in view of the operation of Greek Cultural Centers in Belgrade, Bucharest, Tirana and Sofia in 2008. "The events are dedicated to the cultural past and present of the Balkans and aim at establishing a new systematic cultural presence of Greece in the Peninsula," Professor George Babiniotis, president of the Hellenic Cultural Foundation, said on Wednesday. [37] 4th Balkan Dance Platform in Athens this weekNew and rising dancers and choreographers from the Balkans will present their work for three days from Thursday to Saturday at the Athens Concert Hall, where the 4th Balkan Dance Platform (BDP) will take place.The BDP is held every two years and this year features participation by artists from Bulgaria, Greece, the Former Yugoslav Republic of Macedonia, Serbia, Croatia and Turkey. As in previous years, the Athens Concert Hall is a co-organiser. [38] Veteran journalist Lionarakis diesVeteran journalist Nikitas Lionarakis, the former director of the state-run radio broadcaster's (ERA) regional stations, died on Wednesday at the age of 57.Lionarakis had served as a vice-president for the local chapter of Greenpeace and was a noted pioneer in the development and coordination of NGOs in Greece, serving at one point as chairman of a relevant foreign ministry committee for NGOs. [39] Peloponnese Region authority chief resignsThe general secretary of the Peloponnese Region authority Aggela Avouri on Wednesday announced her resignations for what she said were "strictly personal" reasons.She said she was satisfied with the work she had done during at the helm of the regional authority and said she would be ready to assist the new general secretary in any way she could. [40] World premiere of the film 'El Greco' on ThursdayThe world premiere of the film "El Greco" - a Greek, Spanish, Italian and British co-production directed by Yannis Smaragdis - will be held on the island of Crete on Thursday, at the Technopolis cinema in Ammoudara, Iraklio.The premiere will be attended by the director and the team that produced the film, as well as the mixed cast of Greek and Spanish actors and the British lead player Nick Ashdon, who has the role of the Cretan born artist Domenikos Theotokopoulos, later known as El Greco. The film is expected to be released in about 100 cinemas throughout Greece on October 18. [41] Long tailbacks on Attiki Odos after truck catches fireTailbacks reaching back as far as one kilometre formed on the Attiki Odos highway on Wednesday, after a truck travelling in lanes heading toward the Athens airport caught fire at the 14th kilometre of the road near Aspropyrgos.The fire was quickly put out by the fire brigade but traffic was restricted to just one lane until the heavy vehicle could be removed from the highway. Cyprus Affairs [42] Cypriot President against Moller's replacementNICOSIA (CNA/ANA-MPA)Cypriot President Tassos Papadopoulos expressed hope here Wednesday that the UN Secretary- General's Special Representative in Cyprus and Chief of Mission, Michael Moller will not be replaced. Invited to comment on reports by CNA that UN chief Ban Ki-moon gave way to pressure exerted by Ankara and it is likely that he will replace his special representative on the island, Papadopoulos replied that these reports have been circulating for about six months now. "We have no say, of course", President Papadopoulos said pointing out that it is the Secretary General who decides on the matter. The Cypriot president added that what is at risk is not the individual but the principle, explaining that because one of the two sides, in this case the Turkish side which is disaffected to Mr. Moller, does not want a certain interlocutor this does not mean he or she should be replaced. "I hope he is not replaced", the president remarked. The president said he is aware that representations were made by the permanent five, "if not all five then certainly three of the members, made strong representations to the Secretary-General, calling on him" to keep Moller in his post. Asked if this might imply that the Secretary-General will appoint a Special Representative on Cyprus, the president replied in the negative, noting that the two issues are separate. According to the CNA correspondent in New York, Ankara believes that Moller favours Greek Cypriots and he is responsible for the 8 July Agreement, which Turkey has always disagreed with. In early summer and during Ban's recent meeting with Turkish Prime Minister Tayip Erdogan, the Turkish side reminded the Secretary-General "that he did not keep the promise he made to replace Mr. Moller", a well informed Security Council source said. In September, the governments of Cyprus and Greece sent letters to the Secretary-General asking him not to replace Moller. Ban, with the help of UN Deputy Secretary General Lynn Pascoe, has drawn up a list with three candidates, all female, to replace Moller. The first is a Swiss diplomat who is dealing with issues that concern the Republic of Georgia, and the other two are an American and a New Zealand native, both working in the UN Secretariat. Ban's decision to appoint a woman is related to the small number of women in high-ranking positions at the UN Secretariat. The appointment is expected to take effect before Christmas. The Americans, according to Undersecretary for Political Affairs Nicholas Burns, have repeatedly stated that they want a Special Representative to be appointed. However, one of the reasons that Ban is not in a hurry, according to the same sources, is because he intends to appoint Ibrahim Gambari, who is now Secretary-General Ban Ki-moon's Special Envoy to Myanmar, as his special representative to Cyprus. The sources said that Ban believes Gambari's appointment will lessen the Greek Cypriots' reaction to Moller's replacement, and that the latter will undertake another UN sensitive mission. Cyprus has been divided since 1974, when Turkey invaded and occupied its northern third. President Papadopoulos and Turkish Cypriot leader Mehmet Ali Talat agreed on 8 July 2006, during a meeting in Nicosia in the presence of UN official Ibrahim Gambari, to begin a process of bicommunal discussions on issues that affect the day-to-day life of the people and concurrently those that concern substantive issues, both contributing to a comprehensive settlement of the Cyprus problem. They met again on 5 September 2007 in the presence of the UN Secretary General's Special Representative in Cyprus Michael Moller. [43] Cypriot FM completes visit to KyrgyzstanNICOSIA (CNA/ANA-MPA)Cypriot Foreign Minister Erato Kozakou-Marcoullis completed her visit to Kyrgyzstan, the first ever official visit by a Cypriot FM in the country. During her visit, Marcoullis held meetings with high ranking Kyrgyzstan officials and decisions were taken to promote cooperation in the fields of health, culture, commerce, economy and education, with the aim to deepen the relations of friendship between the two peoples. During a meeting with Kyrgyzstan's deputy health Minister Madamin Karataev the two decided to immediately promote procedures to sign a cooperation agreement in the field of health. Marcoullis also met Foreign Minister Ednan Karabaev and exchanged views on strengthening cooperation between the two ministries. They also examined international issues related to EU's cooperation with Central Asia countries. The Cypriot FM also had meetings with the country's House Speaker Marat Soultanov and Chairman of the Parliamentary Committee of Foreign Affairs Karganbek Samakov where they agreed the exchange of visits at all levels between their respective parliaments. Marcoullis also met with Kyrgyzstan's deputy Prime Minister Nur Uulu Dosbol who expressed the determination of Kyrgyzstan to immediately promote action towards the implementation of all that was agreed during her visit. On her part, the Cypriot minister informed all officials on the latest developments on Cyprus and was assured that Kyrgyzstan will continue to promote the reunification of Cyprus based on international law and UN Security Council resolutions, which it respects and implements. Marcoullis visited the Slav University of Bishkek, capital of Kyrgyzstan and met with professors and students of the Greek Studies Department. She also gave a press conference and a reception to mark the 47th anniversary of the independence of the Republic of Cyprus. On her return to Cyprus, Marcoullis made a stop over in Moscow where she met the Russian Federation's deputy Foreign Minister Andrey Denisov and chairman of the Foreign Affairs Committee of the State Duma and head of the Russian delegation at the Parliamentary Assembly of the Council of Europe Konstantin Kosachev. The Cypriot delegation included head of the House Health Committee Dr. Eleni Theoharous and Cyprus' Ambassador to Kyrgyzstan Leonidas Pantelides. The Cypriot minister returns home early Thursday via Hungary. [44] US House supports implementation of 8 July Agreement on CyprusWASHINGTON (ANA-MPA/T.Ellis/CNA)The US House of Representatives passed Tuesday unanimously a resolution supporting the implementation of the UN-brokered 8 July, 2006, agreement on Cyprus. The resolution was authored by Representatives Gus M. Bilirakis,a member of the House Committee on Foreign Affairs and co-chair of the Congressional Caucus on Hellenic Issues, who said that the passage of the resolution demonstrates the House of Representative's commitment to the implementation of the July 8 agreement as a means of achieving the ultimate goal of a unified Cyprus. "As a valued friend and ally of the United States, it is the hope of this body that the July 8 framework be utilized to work out differences in order for Cyprus to once again enjoy a peaceful and sovereign existence," he added. The resolution acknowledges the key terms of the July 8, 2006 agreement, particularly the formation of a bi-communal, bi-zonal federation with territory allocated to the Greek and Turkish communities within a united Cyprus. The resolution also calls on the US government to fully support the immediate implementation of the July 8 agreement ''in its entirety and without deviation from that process''. On July 8, 2006, Cypriot President Papadopoulos and Turkish Cypriot leader Mehmet Ali Talat agreed, during a meeting in Nicosia in the presence of UN official Ibrahim Gambari, to begin a process of bicommunal discussions on issues that affect the day-to-day life of the people and concurrently those that concern substantive issues, both contributing to a comprehensive settlement of the Cyprus problem. 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 |
![]() |
![]() |
![]() |
![]() |
![]() |