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Athens News Agency: Daily News Bulletin in English, 15-07-22

Athens News Agency: Daily News Bulletin in English Directory - Previous Article - Next Article

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

Wednesday, 22 July 2015 Issue No: 5004

CONTENTS

  • [01] After prior actions, the government will focus on negotiations, Tsipras says
  • [02] Bill related to prior actions and BRRD tabled in Parliament late on Monday night
  • [03] Negotiations on Greek bailout to begin once prior actions are passed, gov't says
  • [04] Things are better, but danger still here, President Pavlopoulos says
  • [05] Greece's place is in the EU and the eurozone, President Pavlopoulos says
  • [06] Fighting corruption will be 'number one priority', Dep. State Minister Terens Quick tells ANA-MPA
  • [07] The measures are harsh and highly anti-social, Parliament Vice President Mitropoulos says
  • [08] Debt relief provided Greece meets its commitments, EU Commissioner Moscovici says
  • [09] Main opposition leader Meimarakis against snap elections
  • [10] Potami leader Theodorakis opposes early elections, proposes changes to election law
  • [11] PASOK leader visits President Pavlopoulos, says PM should again call political party leaders
  • [12] Greece's laws urgently need codifying, General Inspector for Public Administration says
  • [13] SYRIZA youth group calls agreement with creditors a 'massive defeat', demands emergency conference
  • [14] Draft bill for television licences to be tabled by Wednesday, minister says
  • [15] 10th World Hellenic InterParliamentary Association General Assembly begins in Athens
  • [16] Greek foreign ministry condemns terrorist attack in Suruc, Turkey
  • [17] Gen. Sec for Information-Communication announces overhaul to 'correct mismanagement'
  • [18] KKE sec gen Koutsoumbas to visit Syros
  • [19] Golden Dawn trial adjourned for July 28
  • [20] Golden Dawn MP Yiannis Lagos back in jail for violating terms of release
  • [21] Stylida mayor and party leader Gletsos sues former finmin Varoufakis for 'gross negligence'
  • [22] Tax impact on farmers will start in 2017, Alternate Agriculture Min Apostolou says
  • [23] Budget revenues down significantly in Q1
  • [24] Greek current account deficit up in Jan-May
  • [25] Mevaco signs 2.0-mln-US dollar contract with Intracom Defense Electronics
  • [26] No immediate fare change on public transport due to VAT hike, minister says
  • [27] Ancient paved way discovered at Megalo Kavouri beach, linking area to greater Athens road network
  • [28] Fire in Stamata, east Attica under control
  • [29] Fair on Wednesday
  • [30] The Tuesday edition of Athens' dailies at a glance Politics

  • [01] After prior actions, the government will focus on negotiations, Tsipras says

    In a message directed at SYRIZA MPs, Prime Minister Alexis Tsipras on Tuesday told aides that the government will focus on the crucial negotiations for a new loan agreement with the country's creditors as soon as Parliament votes on the prior actions this Wednesday. Sources at the meetings said that Tsipras also addressed rebels within his party, pointing out that he had heard a lot of criticism but no alternatives.

    "Up to now I have seen reactions, I have read heroic statements but I have heard no alternative proposal to the extortionist dilemma of July 12. If some believe that the alternative leftist plan is the Schaeuble Plan, the seizure of the European Central Bank (ECB) stock of banknotes or to hand out IOUs to pensioners instead of pensions, let them come forward and explain this to the Greek people," he was quoted as saying.

    He also warned those disagreeing "not to hide behind the security of my signature" and stressed that he was fully aware that he had "assumed responsibility for a difficult compromise...but one that keeps us alive to carry on fighting."

    Tsipras then outlined the main focus and directions of government policy, the sources said, and announced that SYRIZA must carry out a process of assessment and draw up a collective strategy once the agreement was concluded, one based on the new facts of the situation. Starting in September, the party would proceed to conduct "broad-based collective processes in order to decide the goals and features of the leftist government in the new situation," they said.

    Noting that the government will have not further legislative obligations for about a month after Wednesday, the prime minister said it will be to focus on the negotiations for the loan agreement, whose outcome will be crucial, and make use of all potential alliances, both social and political, in order to bring about the best possible result.

    In the meantime, he added, the government must throw its weight behind actions to fight corruption and graft, promote major reforms and necessary changes in the political system, promote targeted actions to support the weakest sections of society and ramp up efforts to attract investments to the country, in order to counteract the recessionary trends in the economy.

    [02] Bill related to prior actions and BRRD tabled in Parliament late on Monday night

    The prior actions that Greece has to pass into national legislation on Wednesday after the government's agreement with its European partners were tabled in a bill late on Monday night.

    Draft Law 4334/2015 includes a Code of Civil Procedure and the transposition of the Bank Recovery and Resolution Directive (BRRD). Parliament will vote on them late on Wednesday.

    According to government sources, the measures relating to taxation of farmers and early retirement will be adopted in the next package of legislation to be passed in the first week of August.

    [03] Negotiations on Greek bailout to begin once prior actions are passed, gov't says

    Negotiations between Greece and the institutions will begin as soon as Parliament votes for the prior actions demanded by Greece's creditors and will run until August 20, government spokeswoman Olga Gerovasili said on Tuesday. She said these prior actions will not include the changes in taxation for farmers.

    The prior actions demanded of Greece in the July 12 agreement between Eurozone leaders, in order for negotiations to begin, are the changes to the VAT and the pension systems, full independence for the Greek statistical authority ELSTAT and full implementation of the Treaty on Stability, Coordination and Governance in the framework of EMU. With the exception of the pension reforms, which have been postponed until later with the agreement of the institutions, the measures were all passed by Parliament on July 15, Gerovasili pointed out.

    Eurozone leaders also called for the adoption of the Code for Civil Procedure and transposition of the Bank Recovery and Resolution Directive (BRRD) into national law, which will be voted in Parliament on Wednesday, she added.

    "The government wishes to make it clear that none of the above prior actions concerns the change in the taxation regime for farmers. Rumours that this will these measures will supposedly be passed in early August have absolutely no basis," she said.

    [04] Things are better, but danger still here, President Pavlopoulos says

    The acquis of the political leaders' meeting, which formed the basis of today's course, still applies," the President of the Republic Prokopis Pavlopoulos said during his meeting earlier on Tuesday with PASOK leader Fofi Genimmata.

    "This is proved by the steps already made since the last meeting. Things are much better although the danger is still here," he noted. "Everyone should consider, especially those political forces that follow the European course, what a possible course of Greece outside the European Union and the eurozone would mean economically, socially and nationally. Such a course would be disastrous," he added.

    This has been avoided, he noted, thanks to the decision of the council of the political leaders, and added that this acquis will be protected with whatever means necessary within the framework of the Constitution.

    On her part, Genimmata expressed her concern over the situation in the country as the danger of Grexit is still ahead of us, as she said.

    She expressed the view that the prime minister needs to discuss again with the parties supporting the agreement adding that a road map, a commitment are necessary for the future movements.

    "We need to discuss and commit on how we will move from now, what the next steps are in order to ensure the safe course of the country, until we are confident that we have overcome the danger and the problems and we are close to the exit from the crisis," Genimmata concluded.

    [05] Greece's place is in the EU and the eurozone, President Pavlopoulos says

    President of Republic Prokopis Pavlopoulos on Tuesday sent a clear message that Greece's place is in the European Union and the eurozone.

    Addressing Cypriot students at the Presidential Palace, he stressed that any other option would be economically, socially and nationally destructive.

    "The safest way for ending the nightmare of memorandum is the united front -which should be shielded whatever the cost - of those democratic forces that guarantee the uncompromising development of the country within the European Union and in the eurozone," Pavlopoulos stated.

    [06] Fighting corruption will be 'number one priority', Dep. State Minister Terens Quick tells ANA-MPA

    Fighting corruption and finding ways to offset the harsh measures imposed by Greece's creditors will be the coalition government's top priority, Deputy Minister of State Terens Quick told the ANA-MPA in an interview on Tuesday.

    "The number one priority is for people to understand that this government is not linked to any interest groups, that we are not the people of the interests, and that we can therefore crack down on corruption without any qualms," Quick said.

    Put in charge of coordinating government action against tax evasion, Quick said a major area of focus will be the fuel trade.

    "At this moment, the Greek state does not know how many petrol stations there are. They do not know how many fuel tanks over 5.0 tonnes there are. Not only in homes but also in businesses and at the refineries. We do not know where the fuel storage areas are. All this must be put into some kind of order," he said.

    Estimates for the revenue lost for fuel sales ranged from 1.0 - 5.5 billion euros, Quick pointed out, while the state had so far installed inflow-outflow systems only at retail level and nowhere else.

    "I have already prepared the relevant recommendation to present at a new meeting that will be held with the minister against corruption, Panagiotis Nikoloudis, on Friday," he said, stressing that the present government would abolish the 'immunity' previously afforded to those evading taxes.

    A second priority, he added, was to show people that the government was striving to find counter-measures or alternatives to offset harsh austerity.

    "It is the first time that the Greek government has been allowed, on the basis of this agreement, to reverse a law that has been passed and replace it with something else that is deemed suitably equivalent," Quick pointed out.

    The deputy minister said the government was also ready to start checking thousands of bank deposits abroad, in Switzerland and elsewhere, in order to discover money that had not been declared.

    "Whoever has not declared [their deposits] will be fined 40 pct. Whoever declares them will pay 21 pct to be cleared. In this way we do not sanctify tax evasion but only locate the money and, of course, bring in revenues," Quick said.

    The full interview in Greek is available on the ANA-MPA website.

    [07] The measures are harsh and highly anti-social, Parliament Vice President Mitropoulos says

    The measures are particularly severe and highly anti-social, Parliament Vice President and SYRIZA member Alexis Mitropoulos on Tuesday said in statements to private Mega TV and called on Prime Minister Alexis Tsipras to seek broader social and political consensus.

    "The measures agreed are difficult and the government will not be able to implement them on its own," Mitropoulos underlined. He added that "a wide social and political basis is needed, because it is not in the interest of the left wing to implement the most extreme neoliberal post-war policy."

    He proposed "a national negotiation plan with an immediate reconstruction of the negotiating team and a new government with persons of widespread acceptance and prestige but not necessarily with the involvement of other parties".

    [08] Debt relief provided Greece meets its commitments, EU Commissioner Moscovici says

    European Commissioner Pierre Moscovici on Tuesday said Greece's European creditors have agreed to provide debt relief provided that the government can deliver on the terms of its third bailout package.

    "The Eurogroup has already has discussed this," Moscovici said on RMC radio, according to a Bloomberg report. "We have agreed to lighten the interest burden, lengthen the maturity of the debt. It's something that can be done when the time comes, after the negotiation of a good program of development and assistance," Moscovici stated.

    Moscovici ruled out a straight writedown of Greece's debt.

    "There is resistance across Europe to doing a haircut. In Germany but also in France," he said. "It's not a restructuring. It's a re-profiling," according to Bloomberg.

    [09] Main opposition leader Meimarakis against snap elections

    New Democracy (ND) leader Vaggelis Meimarakis late on Monday said he is against possible early elections and expressed his intent to cooperate with the prime minister.

    "Elections will be a catastrophe for the economy," Meimarakis said in an interview with public broadcaster adding that his party would win in case they were held.

    Meimarakis put the blame for the agreement reached, which is recessionary, solely on Prime Minister Alexis Tsipras and wondered how he signed it.

    The main opposition leader did not reject the option of a wider cooperation government adding, however, that this is not something the prime minister wishes for.

    [10] Potami leader Theodorakis opposes early elections, proposes changes to election law

    Opposition Potami party leader Stavros Theodorakis on Tuesday stressed that his party is opposed to snap elections in early autumn, noting that the danger of Greece crashing out of the euro had not passed. He also proposed changing election law to scrap the 50-seat bonus currently received by the leading party.

    In a press conference for both Greek and foreign media, Theodorakis said that Greece had not yet stabilised its position in the eurozone and that it would be premature to hold elections as soon as the agreement with Greece's creditors was in place, as currently rumoured.

    "Potami demands clearcut talk from all sides," he said, outlining seven priorities that the party considers essential, including the replacement of current Parliament President Zoi Konstantopoulou.

    In addition to avoiding elections until Greece was fully stabilised, he said the government must avoid "unilateral actions in the public sector and education", that the prime minister must present a 'road map' for government and Parliamentary activity up to October, that full light must be shed on the 'drachma plan' that members of the government had worked on, that an action plan to boost small and medium-sized enterprises and exports be drafted in August and that changes to the current election law should be discussed.

    Theodorakis said his party's main position was that there should be "no more memorandums without reforms".

    [11] PASOK leader visits President Pavlopoulos, says PM should again call political party leaders

    President of the Republic Prokopis Pavlopoulos on Tuesday received opposition PASOK leader Fofi Gennimata. PASOK's leader asked that the prime minister again talk to the political parties supporting the agreement with Greece's European creditors in order to draw up a road map for the actions and initiatives that must be taken moving forward.

    The president promised to convey her request to Prime Minister Alexis Tsipras and praised her own and PASOK's dedication to the "major national affair of keeping Greece in the European Union and the eurozone."

    Gennimata expressed her concern that Greece was not yet out of danger and that the threat of Grexit was still present.

    "The time has come for the prime minister to speak once again with the parties that support the agreement and for a road map to be drawn up, a commitment to the initiatives and actions moving forward," she said.

    "We must discuss and make commitments as to how we will proceed, what the next steps will be, in order to ensure the country's secure progress until we are certain that the danger is over and that we are heading for an exit from the crisis," she added.

    [12] Greece's laws urgently need codifying, General Inspector for Public Administration says

    Greece's economic recovery requires a radical overhaul of its laws and legal system in order to bring about security in law, General Inspector for Public Administration Leandros Rakintzis told the ANA-MPA on Tuesday, in an interview after releasing his report for 2014.

    Rakintzis said that a scourge of excessive and overlapping laws continued to hold enterprise and private initiative "hostage" in the country and stressed that codification was necessary.

    Regarding public sector corruption, the inspector reported a "slight improvement every year in the quality of inspection of disciplinary cases," so that the situation was markedly improved since he first took over 11 years ago.

    In terms of disciplinary law and structures for eliminating bureaucracy, he said, Greece's public administration was making slow but steady progress.

    In his report released earlier on Tuesday, Rakintzis once again found the majority of the problems in the areas of financial management, town planning, health and the environment.

    He also reported that more than 2.6 million euros had not been declared, as shown by the wealth statements submitted by civil servants, and at least half othe money sent abroad had not been legally declared.

    [13] SYRIZA youth group calls agreement with creditors a 'massive defeat', demands emergency conference

    In sharp criticism of the agreement Greece reached with its EU partners and creditors on July 12, ruling SYRIZA's youth group on Tuesday called this a "massive defeat for the forces of the radical Left in Greece" and demanded that SYRIZA's Central Committee be convened, as well as an emergency party conference.

    The party's youth group was critical of the government's failure to proceed with a series of "unilateral actions" that is said could have ensure funds to carry out the party's programme.

    [14] Draft bill for television licences to be tabled by Wednesday, minister says

    A draft bill on the issue of permanent licences for private television stations and for the operation of the National Commission for Telecommunications and Post (EETT) will be tabled in Parliament on Tuesday or Wednesday, Alternate Minister for Infrastructure, Transport and Networks Christos Spirtzis announced on Tuesday, in an interview with the state broadcaster ERT.

    [15] 10th World Hellenic InterParliamentary Association General Assembly begins in Athens

    A number of ministers and officials addressed the 10th World Hellenic InterParliamentary Association (WHIA) General Assembly in Athens on Tuesday, underlining the importance of Greece's diaspora for the country.

    Foreign Minister Nikos Kotzias emphasised that the involvement of Greece's diaspora was essential for the Greek state, which was "handicapped" without it, but also for the MPs elected in non-Greek Parliaments who, without the Greek state, will "stop being a diaspora with the prospect of an identity."

    Newly-appointed Deputy Foreign Minister Yiannis Amanatidis said specific action by expatriate Greek MPs to help Greece was needed, noting that the diaspora Greeks should be the first to demonstrate their trust in Greece.

    The WHIA General Assembly was also addressed by Greek Parliament President Zoi Konstantopoulou, who said that Greece was currently in a regime where its democratic functioning was being "strangled".

    "The Parliament is called since dawn last Monday, from July 13, 2015, to pass legislation dictated by the executive power and, specifically, the European Monetary Union leaders' summit," she pointed out, calling on the country's diaspora to be alert and mobilise in order to prevent the completion of this coup.

    "Since July 13, democracy in our country is being disputed, the free will of Parliament, the freedom of conscience and expression of its MPs, their ability to debate," she said, referring to what she called "asphyxiating" deadlines to rush through legislation, without MPs realistically having an opportunity to study, discuss or exchange views on the draft bills.

    "A government that has clearly stated that it does not agree and opposes this programme is being obliged to put it to the vote under threat of the violent death of society, under the threat of being subjected to disorderly default. All this is happening using public debt as the tool and with Greece's participation in EMU and the euro as the means of execution," she added and urged the MPs at the meeting to launch initiatives to prevent this plan to subject people to banks and financial interests from being completed.

    The WHIA is a non-partisan political union with 200 members from 27 countries, originally formed in 1996 to help the networking and cooperation of MPs of Greek origin elected to parliaments abroad.

    [16] Greek foreign ministry condemns terrorist attack in Suruc, Turkey

    Greece's foreign ministry condemned the terrorist attack in Suruc, Turkey in an announcement issued on Tuesday:

    "We unequivocally condemn the suicide attack on young volunteers at the cultural center in the town of Suruc, Turkey.

    We express our condolences to the families of the victims and the wounded, as well as to the government of Turkey at this difficult time.

    Terrorism aimed at international destabilization is doomed to failure. Greece, in cooperation with the countries of the region, as well as within the framework of the EU, will not cease to support the peoples being tested by the barbaric violence of extremism, religious obscurantism and intolerance."

    [17] Gen. Sec for Information-Communication announces overhaul to 'correct mismanagement'

    The General Secretariat for Information and Communication on Tuesday announced that it was taking action to abolish a regime of "special privileges" enjoyed by a small minority of staff at the expense of the state and their colleagues, which it said had left a gaping hole of 13 million euros in the secretariat's budget when SYRIZA took over.

    The secretariat rejected an announcement issued by main opposition New Democracy denouncing its actions as an attempt to make clientelist appointments of SYRIZA supporters, stressing that those hired fully met the criteria and were judged based on their credentials and past careers.

    Among the moves taken was the merger of the two general secretary positions into one, for a saving of some 300,000 euros in total and ending the secretariat's subscription to Reuters. It also hopes to save roughly one million euros a year by temporarily suspending the operation of some more remote bureaus abroad and cutting back on spending for the rest.

    [18] KKE sec gen Koutsoumbas to visit Syros

    Communist party KKE secretary general Dimitris Koutsoumbas will hold a two-day tour on Syros island between July 23 and 24.

    A speech-press conference has been scheduled for Thursday, at 19:00, at the Cultural Centre of the town.

    [19] Golden Dawn trial adjourned for July 28

    Golden Dawn trial adjourned for July 28 due to an impediment of the deputy prosecutor, the president of the court announced.

    The trial for the illegal activity of the Golden Dawn will resume next Tuesday.

    [20] Golden Dawn MP Yiannis Lagos back in jail for violating terms of release

    An Appeals Justices' Council on Tuesday ordered the return of Golden Dawn MP Yiannis Lagos to jail after the MP was found to have violated the terms of his release from prison. Lagos is among the GD MPs and party members facing trial on charges that the party is run as a criminal outfit and had been released after the 18-month maximum period for imprisonment without trial expired.

    Judges were told that since his release, he has violated three times violated the terms of his release three months ago, when he was ordered to remain under house arrest under police guard and only leave in order to go to Parliament with a police escort.

    [21] Stylida mayor and party leader Gletsos sues former finmin Varoufakis for 'gross negligence'

    Stylida Mayor and Teleia party leader Apostolos Gletsos, a former popular actor, on Tuesday filed a lawsuit with Supreme Court Prosecutor Efterpi Koutzamani, in which he accused former finance minister Yanis Varoufakis of "gross negligence" or "wilful misconduct' in his handling of Greek economic affairs.

    Gletsos asked that charges be brought against Varoufakis for exposing the Greek State to negative behaviour and economic measures from third countries "through his extremely poor behaviour" and disrupting the friendly relations between the Greek state and its EU partners, thus causing massive damage to Greek economic life.

    Financial News

    [22] Tax impact on farmers will start in 2017, Alternate Agriculture Min Apostolou says

    The agreement with the partners will start affecting farmers as of 2017, Alternate Minister of Agricultural Development and Food Vangelis Apostolou on Tuesday said in statements to Mega TV.

    He admitted that the impact on the farmers' income will be significant, but noted that the agreement leaves room for manoeuvre.

    [23] Budget revenues down significantly in Q1

    Budget revenues fell significantly in the first quarter of the year according to quarterly non-financial accounts of the general government, Hellenic Statistical Authority said on Tuesday.

    In a report, the statistics services said that the general government's revenues totaled 16.817 billion euros in the January-March period, down from 17.921 billion in the same period last year. In the same period, spending grew by 800 million euros to 20.809 billion euros, mostly due to an increase in primary spending to 19.112 billion euros from 18.225 billion in 2014.

    Income taxes fell to 18.4 pct of total income in the first three months of the year. from 21.3 pct last year, while taxes on production and imports accounted for 32.7 pct of total income from 34.1 pct in 2014. Spending on wages accounted for 25.2 pct of total spending, down from 25.6 pct last year, while spending on social benefits fell to 44.9 pct from 45.4 pct over the same periods, respectively.

    The country's public debt fell to 301.527 billion euros in the first quarter, from 315.025 billion euros in 2014, reflecting the return of 10.9 billion euros to the European Financial Stability Fund and payment of an installment worth 2.8 billion euros to the IMF.

    [24] Greek current account deficit up in Jan-May

    Greece's current account balance showed a surplus of 407 million euros in May, against a deficit of 299 million in the same month of 2014, for a deficit of 2.7 billion euros in the January-May period, up by 122 million euros compared with the corresponding period last year, the Bank of Greece said on Tuesday.

    The central bank, in a report, attributed this improvement mostly to the improved balance of goods and services, which showed a surplus of 725 million euros in May, up by 636 million year-on-year. In particular, total receipts from exports of goods and services registered a small increase (1 pct) in May, but the import bill decreased considerably (13.7 pct), owing mainly to the lower oil import bill.

    More specifically, the deficit of the balance of goods decreased by 476 million euros year-on-year, on account of the lower net oil import bill. The improvement in the oil balance, which was significant, is partly attributable to reduced oil imports by Hellenic Petroleum, due to a temporary shutdown of the Aspropyrgos refinery. Also, imports of goods excluding oil and ships rose by 5.2 pct, while the corresponding exports fell by 3.6 pct year-on-year, pushing up the deficit of the balance of goods excluding oil and ships. The surplus of the services balance improved by 159 million, on account of improvements primarily in the travel services balance and secondarily in the transport (sea and other transport) services balance. The surplus of the travel services balance increased by 124 million euros, mainly as a result of a 13.2 pct rise in non-residents' arrivals in May and a 17 pct hike in the corresponding receipts.

    In the January-May 2015 period, the current account balance showed a deficit of 2.7 billion, up by 122 million euros year-on-year. This increase is mainly attributable to a deterioration in the primary and secondary income accounts. By contrast, the balance of goods showed an improvement, which more than offset a slight decline in the surplus of the services balance, resulting in an improvement in the overall balance of goods and services.

    The deficit of the balance of goods decreased by 910 million euros, on account of lower net payments for purchases of ships and a lower net oil import bill. By contrast, the deficit of the balance of goods excluding oil and ships increased. It should be noted that receipts from exports of goods excluding oil and ships remained almost unchanged, while the corresponding import bill increased by 7.9 pct. The surplus of the services balance shrank to a small extent, as net transport and other services receipts registered a decline, which was only partly offset by a rise in net travel receipts. In the January-May 2015 period, total non-residents' arrivals increased by 27.1 pct year-on-year, while the corresponding receipts grew by 15 pct.

    In the January-May 2015 period, the surplus of the primary income account narrowed, mainly on account of higher net payments related to investment income (interest, dividends and profits) and lower net other primary income. Moreover, the secondary income account recorded a deficit that was higher than that in the same period of 2014.

    In the January-May 2015 period, residents' net assets from direct investment abroad rose by 108 million euros, while the corresponding liabilities that represent non-residents' direct investment in Greece grew by 15 million. Under portfolio investment, a net decrease of 5.1 billion euros in residents' external assets is mainly due to a drop of 11.0 billion in residents' holdings of foreign bonds and Treasury bills, which was partly offset by a rise of 5.8 billion in residents' investment in shares of foreign firms.

    At the end of May 2015, Greece's reserve assets stood at 5.2 billion euros, compared with 5.0 billion at end-May 2014.

    [25] Mevaco signs 2.0-mln-US dollar contract with Intracom Defense Electronics

    Mevaco SA on Tuesday announced the signing of a new contract worth around 2.0 million US dollars with IDE (Intracom Defense Electronics).

    Mevaco recently completed two contracts for the construction of defense equipment worth 4.0 million US dollars as part of an agreement between IDE with Raytheon.

    Mevaco completed an investment program aimed to upgrade its industrial infrastructure and production capacity.

    [26] No immediate fare change on public transport due to VAT hike, minister says

    There will be no immediate change in fares on public transport as a result of the VAT hike, Alternate Minister for Infrastructure, Transport and Networks Christos Spirtzis said on Tuesday, while revealing that the ministry was considering a more sweeping change in the ticket system at a later date.

    Among others, he said these will include the introduction of a zone system to take into account the distance travelled, as well as different prices at different times of day, as well as discount or free travel for the unemployed.

    He said the price hike could not be implemented immediately because tickets had already been issued and the issue of new tickets took several months.

    General News

    [27] Ancient paved way discovered at Megalo Kavouri beach, linking area to greater Athens road network

    A 300-metre section of an ancient carriage way dated to the 4th century BC was discovered by archaeologists at the Megalo Kavouri beach in the southern suburb of Vouliagmeni, the ministry of Culture announced on Monday.

    The road, paved with small stones placed close to one another, varies in width from 1.90 metres to 6.10 metres. It is delineated by retaining walls on either side that also serve to keep the pavement stable, as the earth underneath is soft and sandy.

    At its widest point, and resting on a retaining wall, were found the foundations of a rectangular building with a floor that resembles the road, leading archaeologists to believe it was constructed at the same time as the road. Both were in use throughout the 4th century BC, as evidence of pottery and coins shows.

    The road appears to have linked the ancient deme of Aixonidai Alon with the beach, and to have connected to a greater road network, parts of which have been discovered at several sites along the coast. The network included a greater road linking Athens with Sounion - the southernmost point of the Attica peninsula - and a road that followed the coast from Faliro to Voula, southwest to southeast of Athens.

    Excavations began within a general NSRF-funded project to improve the area of Megalo Kavouri, and were later funded by Greek shipowner Athanassios Martinos, whose support allowed the completion of an archaeological park at Megalo Kavouri beach. Excavations are under the ministry's Ephorate of Antiquities of Western Attica, Piraeus and the Islands (formerly the 26th Ephorate of Prehistoric and Classical Antiquities).

    [28] Fire in Stamata, east Attica under control

    In an announcement late on Tuesday afternoon, the fire brigade said that a wildfire that broke out earlier the same day in the east Attica suburb of Stamata, on the northern fringes of Athens, was now under control.

    Apart from the prompt intervention of the fire brigade, valuable assistance was also given by volunteer groups in the area, authorities said.

    Weather forecast

    [29] Fair on Wednesday

    Fair weather and strong northerly winds are forecast for Wednesday. Wind velocity will reach 7 on the Beaufort scale. Fair in the northern and the western parts of the country with temperatures ranging from 19C-37C. Fair in the eastern parts with temperatures between 20C-36C. Sunny weather over the Aegean islands and Crete, 23C-36C. Fair in Athens, 25C-35C. Fair in Thessaloniki, 22C-34C.

    [30] The Tuesday edition of Athens' dailies at a glance

    AVGHI: Crucial day for SYRIZA and the government

    DIMOKRATIA: Bank deposits' haircut and foreclosures 'a la Spain'

    EFIMERIDA TON SYNTAKTON: The new package comes with discounts

    ELEFTHEROS TYPOS: Memorandum in installments so as not to lose more deputies

    ETHNOS: New proposal for first residence

    IMERISSIA: The Athens stock market 'in the air'

    KATHIMERINI: The market is a hostage of the capital controls

    KONTRANEWS: What will happen in the upcoming elections

    NAFTEMPORIKI: Troika returns

    RIZOSPASTIS: Organising resistance and solidarity

    TA NEA: Lawyers and depositors worry over settlements

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