Athens News Agency: News in English, 00-06-20

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

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

CONTENTS

[01] Mosque - Parliament

[02] EU-Summit-PM Simitis

[03] Foreign Exchange Rates-Wednesday

[04] Weather Forecast-Wednesday

[05] Greece-EMU-stability programme

[06] Govt spokesman-Greece-EMU entry

[07] ASE-close

[08] Olympic Airways-Boston flights

[09] EU Council-tax package

[01] Mosque - Parliament

The Greek Parliament on Tuesday approved the creation of the first Islamic cultural centre and mosque in the Athens area.

The proposal, carried with 55 votes in favour, 40 against and three abstentions in Parliament's summer session, envisages the building of the complex in Paiania, some 15 km from the centre of the city.

[02] EU-Summit-PM Simitis

FEIRA (ANA - M. Spinthourakis) - Prime Minister Costas Simitis said on Tuesday with the decision on Greece's accession to Economic and Monetary Union (EMU), the country is now entering the European Union's central nucleus, which is one of the most powerful political and economic poles in the world.

The European Council unanimously approved Greece's entry into the EMU on the first day of the EU summit on Monday.

Speaking at a press conference at the end of the summit here, Simitis said "today is a historic day."

"This development permits us now to better exploit possibilities provided by European unification and constitutes a qualitative change since it promotes Greece to a higher level," he said, adding that accession to the euro means greater economic stability, better growth rates and more confidence.

Simitis said this development creates new conditions both at political and social level which can lead to wider understandings which constitute a basic element of developed societies.

"We will be solving and handling the problems and challenges of the new age together," Simitis said and referred, as an example, to discussions held during the European Council on taxation issues.

Simitis said that "Greece's course towards unified Europe, which started in 1981, is being completed with today's decision" and added that after joining the euro Greece is not lagging behind in any sector and is stronger at present than it was in the past.

Commenting on issues discussed during the Council, apart from the issue of accession to the euro, he referred to decisions on supporting employment and the EU's institutional reform.

He said that following a Greek initiative and in close cooperation with Britain, the finalised communique includes reference to terrorism issues stressing the need for close cooperation between EU member-states on handling this international phenomenon.

[03] Foreign Exchange Rates-Wednesday

Following are indicative foreign exchange rates for commercial banks released by the central bank for the next working day.

Wednesdays rates (buying)

Euro 333.848

U.S. dollar 349.174

German mark 170.693

[04] Weather Forecast-Wednesday

Sunny weather is forecast throughout the country on Wednesday with scattered cloud in mainland Greece late in the afternoon. Winds will be northerly, light to strong.

[05] Greece-EMU-stability programme

FEIRA, Portugal (ANA - D.Stamboglis)

Greece will enter the euro zone from January 1, 2001 at a central rate of 340.750 drachmas per euro and will have to submit a stability and growth plan instead of the convergence programme.

The country will have to submit its first stability and growth programme next fall (October, November), according to a decision taken by an EU Council in Amsterdam, June 17, 1997.

The decision envisages that all EMU member-states are committed to maintain a medium-term target for a balanced, or surplus, fiscal condition, as foreseen in national stability or convergence programmes.

Member-states will also have to take own fiscal measures to achieve these goals.

An EU summit in Madrid (December 1995) had confirmed the decisive importance of maintaining fiscal discipline during EMU's third stage.

[06] Govt spokesman-Greece-EMU entry

Greece's EMU entry is a great, catalytic and historical event acting government spokesman Tilemahos Hytiris said on Tuesday, adding that it signalled the country's move away from regression.

Hytiris said Greece's EMU entry was the result of the stable and responsible policies implemented since 1994 and especially after that year.

[07] ASE-close

The Athens Stock Exchange ignored an EU summit's decision to accept Greece in the euro zone with equity prices ending sharply lower on Tuesday hit by lack of fresh capital in the market.

Market sources said the Greek market followed the example of its Spanish counterpart which also fell the day after the country's EMU entry.

Share prices, of both blue chip and smaller capitalistion stocks, came under strong pressure to end sharply lower. Traders said the fall did not reflected sell orders but lack of demand.

The general index ended at 4,304.40 points, off 1.48 percent, slightly off the day's lows of 4,296.5, with turnover shrinking to 82 billion drachmas.

The FTSE/ASE 20 index for blue chip and heavy traded stocks ended 1.67 percent lower at 2,381.51 points and the FTSE/ASE 40 index dropped 2.17 percent to 622.04 points.

The parallel market index for smaller capitalisation stocks ended at 864.19 points, off 3.73 percent.

[08] Olympic Airways-Boston flights

Olympic Airways on Tuesday announced it was starting non-stop flights to Boston, USA.

The national carrier was servicing the route via its scheduled flights to New York or Toronto, Canada.

OA will operate two scheduled flights to Boston, Monday and Thursday, using the latest aircraft in its fleet, the Airbus A340-300.

[09] EU Council-tax package

European Union finance ministers on Tuesday failed to agree a deal on taxing savings income as Austria again refused to accept the proposed tax package.

Fourteen EU states agreed on proposals to tax savings income and bond holdings, but Austria steadfastly refused to agree to proposals that would mean it having to give up its banking secrecy laws.

Final decisions on the tax package will be taken at the Nice EU Council, in December 2000.

Austria's reservations were linked to the country's attempt to get sanctions lifted.

EU diplomats hope that the sanctions could be lifted by the end of the year to persuade Vienna to adopt the package.

The proposals envisages the drafting of an EU directive by December 31, 2002, offering national governments two choices in taxing savings income and bonds, either by withholding taxes or agree to an exchange information system.

Greece, in particular, would have to decide by 2002, or later according to the directive, to adopt one of these two options.

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