Athens News Agency: News in English, 02-01-15

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

CONTENTS

[01] Efforts continue to save Greek mega-bank merger

[02] Olympics budget to stay at 1.5 trillion drachmas, government decides

[03] President meets Archbishop Dimitrios, hosts dinner in his honour

[04] Photo exhibition in Athens to assist UNICEF fund raising to aid

[05] Medical counseling program initiated by Archbishopric of Athens

[06] Ancient Macedonian grave uncovered in NW Greece

[07] Foreign Exchange Rates - Wednesday

[08] Weather Forecast: Overcast, rainy on Wednesday

[09] ASE flat awaiting mega-bank merger news

[01] Efforts continue to save Greek mega-bank merger

The managements of National Bank of Greece and Alpha Bank issued a joint statement on Tuesday to inform investors in the Athens Stock Exchange over the procedure of their merger plan.

"As in any big venture a merger between two equal large banks face difficulties in various fields. We are trying to deal with these difficulties with a spirit of understanding and good faith. Our aim continues to be to create a strong Greek bank with a European structure that will operate under the financial criteria of a modern banking market. This is for the interests of the national economy, our shareholders and employees in both banks," the statement said.

The merger plan between the two banks was in the brink of collapse Monday evening because of wrangling between executives over the distribution of responsibilities under the single form.

National Bank of Greece governor, Theodore Karatzas, met with Alpha Bank's chairman, Yiannis Costopoulos, Tuesday morning in an effort to save the plan.

The two banks announced a merger plan in November 1 last year to create a powerful Greek bank that would become a leader in the region's banking market.

Government

Government spokesman Christos Protopapas on Tuesday said the government was keeping its distance from ongoing developments in a planned merger between National Bank and Alpha Bank.

Protopapas said the government was informed of recent developments while it hopes for a positive conclusion. However, he repeated that the government was not intervening nor does it plan to intervene in negotiations between the two banks.

The spokesman added that Prime Minister Costas Simitis has had telephone contacts with the two banks' heads.

Government officials, however, said they would prefer, in the current phase, to leave the matter in the hands of National Bank's Theodore Karatzas, and Alpha Bank chairman Yiannis Costopoulos, hoping that the two could come up with better solutions.

On its part, main opposition New Democracy issued a statement later in the day on the bank merger.

?NDs standing and consistent position is that a primary precondition for the countrys development lies in the economys deregulation; in the support of healthy competition; structural changes and Greeces robust presence in the European Union,? a party spokesman said.

NDs spokesman Thodoris Roussopoulos noted that the highly touted bank merger will be successful only if competition in the sector and the national economy improves; if a reduction in the cost of banking is passed on to consumers, retail investors and employees; and, if a final agreement avoids an increase in the percentage of the sector falling under state control.

[02] Olympics budget to stay at 1.5 trillion drachmas, government decides

The budget for the Olympic Games would not top the 1.5 trillion drachmas decided on two months ago but these funds would be spent with care and re-allocated internally, government ministers decided at a marathon meeting chaired by Prime Minister Costas Simitis on Tuesday.

Apart from the finance ministry team, also present at the meeting were Culture Minister Evangelos Venizelos and Public Works Minister Vasso Papandreou.

Deputy Press Minister Tilemachos Hytiris afterward told reporters that 906 billion drachmas would be spent on Olympic works and 587 billion drachmas would be spent on programmes such as 'Greece 2004' that involved projects throughout Greece.

Certain members of the government, however, say that it is too soon to finalise the budget for the Olympics, since final plans and estimates for Olympics projects in Faliro, the old Hellenikon airport site and Goudi have not yet been completed.

Venizelos, in response to questions, said that Greece had to meet the deadlines and meet its obligations to the international sporting community. He also pointed out that, apart from Olympics projects, there were also works to improve infrastructure and modernise the country.

[03] President meets Archbishop Dimitrios, hosts dinner in his honour

President of the Republic Kostis Stephanopoulos on Tuesday received Archbishop of America Dimitrios for a meeting that was followed by a dinner in the Archbishop's honour.

During his meeting with the Archbishop, Stephanopoulos said that the Greek-American community was a source of pride for Greece and referred to past talks he had had with Greek-Americans such as Andrew Athens (who was present at the meeting) and other notable expatriates.

The president also reiterated the Greek people and state's absolute condemnation of the terrorist attacks of September 11.

Also present at the meeting were Archbishop of Athens and All Greece Christodoulos, Foreign Minister George Papandreou, Chicago Metropolitan Iakovos, Detroit Bishop Nikolaos and other Greek expatriates from the US.

There followed a dinner given by President Stephanopoulos in honour of Archbishop Dimitrios, which also attended by Education and Religious Affairs Minister Petros Efthymiou, Deputy Foreign Minister Yiannis Magriotis and Pergamum Metropolitan Ioannis who is representing the Ecumenical Patriarchate in Athens.

[04] Photo exhibition in Athens to assist UNICEF fund raising to aid Afghanistan

A photo exhibition that highlights the plight of the people caught up in the Afghanistan war is to open its doors on Wednesday at Athens' Zappeion Hall.

Entitled 'Afghanistan 2001', the exhibition features pictures taken by photographer Yiannis Behrakis, who also had the idea for the exhibition, and is backed by Reuters and UNICEF, which hopes it will sensitise public opinion and help raise money for the children of Afghanistan, who are the chief victims of the war.

The exhibition is to be inaugurated on Wednesday at 19:00 p.m. by President of the Republic Kostis Stephanopoulos and will run until January 27. It will open daily from 11:00 in the morning to 21:00 at night, free of charge. Visitors are invited to purchase a poster for eight euros, which covers the cost of saving the lives of three Afghan children

[05] Medical counseling program initiated by Archbishopric of Athens

Seven churches of the Archbishopric of Athens will begin providing medical gynecological services for free in specially modified rooms of the church grounds.

The new social services program will begin on Jan. 28 and will be run by volunteers from the gynecological clinic of the General State Hospital of Athens.

The initial, pilot program will last until the end of March and aims at informing as best as possible the public on gynecological problems, citizens will be able to meet with doctors free of charge and discuss relevant matters of concern.

[06] Ancient Macedonian grave uncovered in NW Greece

An ancient single-chamber grave initially dated to the Macedonian period has been unearthed in northwestern Greece.

Archaeologists said the 2.28mX2.35m burial site features a five-metre stone roadway leading up to the grave, while a partially demolished believed damaged by grave robbers -- archway is also apparent.

Excavation work at the Palioklisi site near the village of Aghios Demetrios, Ioannina prefecture, commenced after authorities observed signs that antiquities smugglers were active in the specific area.

[07] Foreign Exchange Rates - Wednesday

Indicative tourist buying rates per euro

U.S. dollar 0.899

Pound sterling 0.621

Danish kroner 7.493

Swedish kroner 9.302

Japanese yen 117.91

Swiss franc 1.490

Norwegian kroner 8.013

Cyprus pound 0.580

Canadian dollar 1.432

Australian dollar 1.733

[08] Weather Forecast: Overcast, rainy on Wednesday

Cloud and light rain are forecast in most parts of the country on Wednesday, with isolated storms in the west. Snow will fall on high ground in western Macedonia and high ground in Epirus. Winds variable, moderate to strong. In the north, temperatures will range from -3C to 7C; in the Ionian and rest of the mainland from 1C to 11C; and in the islands from 6C to 13C. Scattered showers in Athens with temperatures between 7C and 11C. Same in Thessaloniki with temperatures from 3C to 7C.

[09] ASE flat awaiting mega-bank merger news

Greek stocks ended Tuesday's session flat with investors nervous awaiting developments in a merger procedure between National Bank and Alpha Bank. The plan was in the brink of collapse Monday night and efforts continued to save the merger deal.

The general index ended 0.09 percent lower at 2,521.63 points, with turnover a low Dr 32.3 billion, or 94.9 million euros.

National Bank's share price eased 0.08 percent, reversing an early advance of 1.88 percent, while Alpha Bank's share price ended 0.43 percent higher, off the day's highs of 3.34 percent.

The Industrials and Investment sectors scored the biggest percentage gains (0.59 percent and 0.58 percent, respectively), while the IT Solutions and Retail sectors suffered the heaviest losses (1.10 percent and 0.61 percent, respectively).

The FTSE/ASE 20 index for blue chip and heavy traded stocks ended 0.07 percent lower, the FTSE/ASE MID 40 index eased 0.01 percent and the FTSE/ASE SmallCap 80 index fell 0.04 percent.

Broadly, advancers led decliners by 152 to 140 with another 62 issues unchanged.

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