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Athens News Agency: Daily News Bulletin in English, 01-06-02Athens News Agency: Daily News Bulletin in English Directory - Previous Article - Next ArticleFrom: The Athens News Agency at <http://www.ana.gr/>June 2, 2001CONTENTS
[01] PM launches strong attack on ND while addressing Central CommitteeAthens, 02/06/2001 (ANA)An emergency meeting of PASOK's central committee to discuss the social insurance issue began on Friday with an opening speech by Prime Minister Costas Simitis, who surprised listeners by introducing an unusually personal note in his address.The meeting had been called at the demand of 63 of its members, who want to go over the party's policies on social security reform and social policy generally. In his speech, Simitis referred to a new national strategy being proposed by PASOK and implemented by the government, which he described as a "vision" for Greece and a "personal wager" for himself. The recognition he received for Greece's successful entry into Economic and Monetary Union (EMU) were not enough, the premier told his listeners. "My entire life has been a struggle to establish democracy and progress in the country, so as to bring about the beginning of a new sense of national self-confidence, a new era." This had not ended with joining EMU, he added, but only become urgent. He called the Central Committee meeting an opportunity for a "fresh start" while defending PASOK's policies in its last 20 years in power and making a scathing attack on main opposition New Democracy, in which he tried to highlight the dividing lines between "progressive" and "conservative" politics. Defending PASOK's 20-year course relative to the social state, Simitis stressed that the government could have spent the same funds using business criteria. "We didn't do this because it does not reflect our convictions, because we are a socialist party's government and the policy we follow is one which expresses that." On the other hand, he noted, one can't carry out social policies without funds, without economic stability and growth of the national product. He called on all the creative forces of society to help create a strong society and rule out all possibility of turning back. This is our moment, he said, and it is the duty of progressive and creative forces, the responsibility of the centre-left. Simitis reiterated that the government was prepared to accept dialogue on all aspects of reforming the social security system without preconditions and prior commitments. He also repeated the government's pledge to guarantee the lowest pensions and to gradually try to increase them. The prime minister said that the necessary additional funds to support the system would be made available and that tripartite payment (which included contributions by the government, as well as employees and employers) was a given. He also referred to other financial support without going into specifics, and pledged that the "final legislative measures would contain specific and binding references to funding and its sources." Acknowledging that this was a thorny problem, the prime minister nevertheless declared himself determined to solve it and not leave it for future governments. "We must take steps now...we mustn't shy away from the problem. We will solve it with society, we will not leave it as a legacy to our children, not pass the burden on to the next generation." He also said that the demographic problem (declining population) would not be allowed to become a "time bomb" at the foundations of social insurance. Turning his attention to the main opposition, Simitis accused ND leader Costas Karamanlis of hypocrisy regarding the economy and the social insurance issue and said that ND's positions were completely unrealistic. Commenting on statements made by Karamanlis in which he described the political period prior to 1981, when conservatives were in power, as the best for economic policy in Greece, Simitis refuted this claim and stressed the achievements of PASOK governments since they first gained power in 1981. During the latter period, he stressed, the "other half" of Greek society had found a voice and political democracy had acquired depth and could "guarantee social justice". He also slammed ND's performance when it was a government in 1989-1993, saying it had led Greece to be described as the "sick man of Europe, who should quit Europe". Simitis noted that when PASOK returned to power, it took over a country where inflation was running at four times its current rate, where employees were losing 12 per cent of the real income a year and pensioners 5.2 per cent, while the public debt had soared to 112 per cent of GDP. Now he pointed out, Greece had a surplus budget for the first time in 35 years, and for the first time in 30 years its economy showed price stability with inflation running at 3 per cent, while for the first time ever there had been a high and steadily increasing growth rate for seven consecutive years. During that time, Simitis said, the government had succeeded in increasing pensions, especially for farmers, who in December 1992 were receiving 13,000 drachmas a month with inflation running at 15 per cent, while nowadays they were getting 48,000 drachmas per month and inflation stood at 3 per cent. Unemployment was decreasing, he claimed, and 2,140 billion drachmas would be invested in human resources by 2006, creating hundreds of thousands of new jobs in the next three years. Funds directed at the social state as a proportion of GDP have since 1998 exceeded the average for the five southern European countries, he said, and there had been a real increase in salaries of 2.2 per cent. He concluded by saying that the positive course had to continue to allow Greece to develop into a strong society and pass onto a new stage of historical development, where what had been achieved was not reversible. [02] Economy minister says policy of handouts harmfulAthens, 02/06/2001 (ANA)Ruling PASOK should overcome the "ghosts" of its past that damaged the country and the party, Economy Minister Yiannos Papantoniou said on Friday during his address to the ruling PASOK party's two-day Central Committee meeting."The critical issue is to overcome the ghosts of 1987 and our negative self of the past, the policy of handouts that damaged the country and the party," Papantoniou said. Papantoniou said the economy currently has a leading position regarding four main indicators, compared to the past 35 years. They are in the sectors of growth, inflation, surplus and investments. He further said economic policy is accountable to no one, concerning the course of the real economy, adding that economic policy is evaluated by its results. On the question of social security, Papantoniou said mistakes were made, but what is important is that dialogue is starting from a zero basis. He also supported the safeguarding of the social security system's public character, increased state participation in funding and the guaranteeing and strengthening of low pensions. On her part, ruling PASOK cadre and Greek European Union Commissioner Anna Diamantopoulou said social security reform is the second major issue following Economic and Monetary Union (EMU), adding that this reform cannot take place without confrontations. Diamantopoulou said time is necessary for dialogue and the view that the social security issue can be concluded in two or three months shows either arrogance or absolute ignorance of reality. She further said the whole process requires transparency and results obtained should be at the disposal of all interested parties and their access to them should be safeguarded. Diamantopoulou also said the analysis to take place on the social security issue should be given to all political parties to enable them to have the same objective basis of presenting the problem and the possibility of outlining their own proposals. Inter-party consensus, she added, is necessary on the issue. Referring to the issue of funds to finance the social security system, Diamantopoulou said the taxation of working people and of small and medium-size businesses should be ruled out, but the taxation of profits not invested and of large real estate can be examined. [03] Simitis meets with visiting Mediterranean farm ministersAthens, 02/06/2001 (ANA)Prime minister Costas Simitis on Friday met with the ministers and deputy ministers of 13 Mediterranean countries taking part in the 3rd conference of member states of the International Centre for Mediterranean Agronomic Studies taking place in Athens.After the meeting, Simitis said in reply to press questions on the Greek government's policy on genetically modified food products that "Greece does not want products that are uncertain". He added that Greek policy on the issue had not changed, but added that discussions were taking place within the European Union on the subject "and we will state or position accordingly". Simitis also said that the farmers' income could not be founded only on agricultural activities, adding that services and agro-tourism were also important sources of revenues. "The farmer needs support and reinforcement so as to have products with accessible prices, which will be of benefit to both the consumer and the farmer," the premier said. "We need to have safe foods, produced with controls on pesticides and attention to the environment. We are reinforcing Mediterranean production, such as olive oil, which has elements of culture and health," Simitis said. [04] Resolution of Cyprus problem not precondition for Cyprus EU entry, Swedish FM saysLONDON (ANA)The prior solution of the political problem in Cyprus is not a precondition for the island republic's accession to the European Union, Swedish Foreign Minister Anna Lindh said on Friday. Lindh, who was speaking at the Chatham House Royal International Affairs Institute on "The Swedish EU Presidency", added that "of course, all of us in the European Union prefer and hope for a political solution to the Cyprus issue before the entry of Cyprus to the EU." She said the Cyprus issue is in principle a very delicate issue requiring careful handling. She expressed the hope that after last Sunday's general elections in Cyprus, proximity talks will be resumed as soon as possible and Turkish Cypriot leader Rauf Denktash will return to the negotiating table. On the question of Turkey's prospects for EU accession, Lindh said Turkey should fulfill accession criteria just as in the case of every other candidate country. Consequently, she added, Turkey should fulfill all the criteria set in Copenhagen before accession negotiations start. Lindh also expressed satisfaction over progress achieved so far in negotiations with candidate countries for EU accession, adding that many chapters are being gradually completed. Lindh further said, referring to EU foreign policy, that progress has been achieved on the possibility of "speaking with one voice." She pointed to the Former Yugoslav Republic of Macedonia (FYROM) as an example and said "if we had achieved this 10 years ago" the situation in the Balkans might have been different today. The "transatlantic bond", she added, continues to be of crucial importance and continuing to act in very close cooperation with the U.S. is very important. [05] Poverty in Greece decreased since 1996 Govt spokesman says responding to SolbesAthens, 02/06/2001 (ANA)Greece ranks higher than some other European Union member-states of the south in programs against poverty, government spokesman Dimitris Reppas said on Friday, commenting on European Union Economic and Monetary Affairs Commissioner Pedro Solbes' statements a day earlier.The data used by Solbes, Reppas said, were collected during the 1994-1996 period, thus they account for the 1990-1993 government actions and not those of the current administration. He added that Greece at present spends 2 per cent of its GDP on programs against poverty and social cohesion, amounting to about 2 trillion drachmas, stressing that there was a gradual increase since 1996. On Thursday, Solbes said that an EU report on "poverty" showed that in Portugal and Greece 21-22 percent of the population have incomes which lie below the poverty level, while 10 percent of Greece's population suffers from persistent poverty. His comments were made in response to a question tabled in the Euro parliament by Greek Euro deputy Michalis Papayiannakis stressed in his question that the previous operational program against poverty had produced no results due, as he said, to its extremely low, and almost non-existent, absorption of EU funds. [06] Public works minister criticizes industrialists' comments on economyAthens, 02/06/2001 (ANA)Environment, Town Planning and Public Works Minister Costas Laliotis on Friday criticized comments of Association of Greek Industries (SEB) representatives made recently during their general assembly. He said that their comments included undue criticism of the Greek economy and the government and called them indirect political support for the main opposition New Democracy party.SEB, in a press release issued later in the day, said that the association does not have any connections with political parties, as it is its duty to remain far from politics. "This always allowed it (SEB) to evaluate without commitments various policies and to cooperate with all governments and the political world for a competitive Greece," the press release said. [07] KKE Deputy produces alleged US documents claiming PASOK link to terrorismAthens, 02/06/2001 (ANA)Photocopies of alleged US documents claiming links between PASOK members and the terrorist organization "November 17" were submitted by Communist Party of Greece (KKE) parliamentary deputy Liana Kanelli on Friday to Haris Tsiokas, chairman of the Public Administration, Law Enforcement and Justice Committee.In a note attached to the documents, Kanelli says they corroborate suspicions that the phenomenon of terrorism is instigated from abroad and "that the bill (on terrorism) now being discussed is able to make any of us unable to defend themselves, or even the country." In statements on Thursday during the debate on the organized crime and terrorism bill, Kanelli claimed that US embassy officials in Athens have been distributing documents since 1989, in which PASOK members are accused of having relations with Arab terrorist organization and the terrorist group "November 17". [08] Greek FM briefs ND section-head on current foreign policy issuesAthens, 02/06/2001 (ANA)Foreign Minister George Papandreou met main opposition New Democracy's section-head for foreign affairs Dora Bakoyianni on Friday and briefed her on current foreign affairs issues and the discussion now underway regarding the future form of the European Union.In statements after the meeting, Bakoyianni said that she had discussed the issues that most concerned ND with the minister, with foremost of all being that of Albanian expansionism and the way that Greece was handling this problem. She took a low-key tone regarding the exploratory voyage by the Turkish research vessel "Piri Reis", which recently hit the headlines, saying that the issue had been cleared up and did not worry the foreign ministry. [09] Slovenian President Kucan to conduct two-day official visit to GreeceAthens, 02/06/2001 (ANA)Slovenian President Milan Kucan will arrive in Greece for a two-day official visit on Tuesday, accompanied by a group of prominent Slovenian businessmen, according to an announcement issued by the Slovenian embassy in Athens on Friday.The visit is the first official visit by a Slovenian president to Greece since Slovenia gained its independence on June 25, 1991. Kucan will be meeting President Kostis Stephanopoulos, Prime Minister Costas Simitis, Parliament President Apostolos Kaklamanis, main opposition New Democracy party leader Costas Karamanlis, Athens Mayor Dimitris Avramopoulos and renowned composer Mikis Theodorakis. An agreement on the avoidance of double taxation will be signed on the occasion. Slovenian Foreign Minister Dimitrij Rupel, who will join the Slovenian delegation on the first day of the official visit, will hold separate talks with his Greek counterpart George Papandreou. [10] Coalition leader appeals for end to 'barbarism' in Turkish prisonsAthens, 02/06/2001 (ANA)Coalition of the Left and Progress (Synaspismos) leader Nikos Constantopoulos held talks with French Ambassador to Athens Jean-Maurice Ripert on Friday and conveyed to him his party's appeal to the European Union for "an end to barbarism in Turkish prisons".Constantopoulos said it "is inconceivable for such nightmarish conditions to exist in Europe in the 21st century and for people to be led to death through hunger strikes". He said it is necessary for the peoples of Europe to be awakened to make Turkey realize that such situations cannot take place today without protest. [11] Turkey questions EU's "honesty" on defense issuesISTANBUL 02/06/2001(ANA - E. Areteos)Turkish Prime Minister Bulent Ecevit questioned Europe's "honesty" toward his country, while commenting on developments surrounding Turkish pressures to participate in the European Security and Defense Identity (ESDI).In statements that appeared in the Turkish press on Friday, Ecevit said that "Europe is not honest with us... if a new defense identity is to be created with the use of NATO capabilities, then Turkey must have the same status as other countries participating in the ESDI". His comments were made in light of the recent NATO foreign ministers' meeting in Budapest. The Turkish foreign ministry, however, continues to be optimistic over the successful conclusions of talks with the European Union over Turkey's participation in ESDI. Turkish foreign ministry spokesman Hussein Dirioz, while addressing a press conference in Ankara, said that his country hopes that the issue will be resolved in a satisfactory manner for all involved. [12] Hytiris answers questions on 'Big Brother' series in ParliamentAthens, 02/06/2001 (ANA)Programs such as "Big Brother" are an example of how technology can be used in a trivial and sordid way, Deputy Press and Media Minister Telemachos Hytiris said on Friday, but added that private citizens also shared some responsibility for them, in that they had the judgment, knowledge and choice to decide when programs are offensive.Hytiris was responded to questions by independent MP George Karatzaferis regarding the Dutch show "Big Brother," which the private television channel ANT1 plans to broadcast in Greece in September. The minister said that the National Television and Radio Council, which is responsible for monitoring the broadcasting sector, had asked for more information from ANT1 management and would decided what to do accordingly. [13] FYROM's UCK leader denies reports on UCKSKOPJE, 02/06/2001 (ANA)A self-styled representative of Albanian armed groups active in the Former Yugoslav Republic of Macedonia (FYROM) on Friday denied press reports that he had announced the establishment of an organization called "Tsamouria Liberation Army", in northwestern Greece.In an interview to the BBC, UCK self-styled representative Ali Ahmeti said that all information regarding action against Greece was false and was aimed at damaging the relations of UCK with Greece. On Wednesday, press reports said that the self-styled representative introduced an Albanian organization he called "Tsamouria Liberation Army", announcing its establishment and activation in northwestern Greece. The man who identified himself as "Ahmeti", while speaking on a radio broadcast aired in Australia, said that he was representing the so-called "Liberation Army" active in the Former Yugoslav Republic of Macedonia (FYROM). "I never made such statements," Ahmeti told the BBC, adding "nor did I ever think to table such issues. I believe, however, that it is a deliberate action of certain circles, aimed at establishing obstacles to the democratic process in FYROM and the Balkans," Ahmeti said. "We want to live peacefully and with relations of good neighborliness with all our neighbors, the Greeks, the Bulgarians. Thus, there is not truth in the information reported by the media," he stressed. [14] Greece among EU countries with lowest employmentBRUSSELS 02/06/2001 (ANA / G. Zitouniati)Greece, Italy and Spain are the European Union's member states with the lowest rate of employment, Eurostat, the 15-nation bloc's statistics agency, said on Friday.A report by Eurostat on the EU's workforce based on data from spring 2000 said the total percentage of employment was 55 percent for each of the three countries against the EU average of 63.1 percent in the same period, up from 61 percent in 1998. In Greece, the employment rate among women was 40 percent and among youth aged 15-24 it was 26.9 percent, the lowest in the EU, possibly affected by the fact that Greek schoolchildren and students do not usually hold paid employment unless obliged to by financial circumstances. Cyprus, which is due to become an EU member, has an employment rate of 65 percent, the highest among candidate countries, the report said. [15] Ministers review Greece's international economic relationsAthens, 02/06/2001 (ANA)Ministers co-responsible for Greece's international economic relations met on Friday and reviewed Greek-Turkish economic relations, the progress of the Greek reconstruction plan for the Balkans and the Greek development aid to third countries.Foreign Minister George Papandreou chaired the meeting, which included National Economy Minister Yiannos Papantoniou, Development Minister Nikos Christodoulakis, Transport and Communications Christos Verelis and Merchant Marine Minister Christos Papoutsis. During the meeting the ministers discussed the current conditions in Turkey and the economic crisis in that country, as well as the possibilities of economic and business cooperation between the two countries. Greek-Turkish cooperation in the transport, energy, environment, tourism and joint maritime venture sectors was also examined. The ministers also discussed the progress of the Greek reconstruction plan for the Balkans and the Greek development aid to third countries for the 2002-2006 period. [16] Greece attacks EU Commission proposal to cut tobacco subsidiesAthens, 02/06/2001 (ANA)Greek Agriculture Minister George Anomeritis on Friday attacked an European Commission proposal to cut subsidies on tobacco producers saying that "abolition of tobacco subsidies to ensure everlasting growth in the EU is a false effort to link unrelated things. It is a dishonest stance to provoke confusion and disorientation to less informed people"."The honest and realistic thing to do," Anomeritis said, "will be a policy aiming to combat the damaging habit of smoking through an information campaign to upgrade the quality of tobacco and introducing limitation and standards on the way of production." "The Commission needs to understand that the issue of tobacco farming subsidies is not simple. It needs careful handling. It is not offered for moves to impress the public," he stressed. [17] Manufacturing slows in MayAthens, 02/06/2001 (ANA)The rate of increase in domestic manufacturing slowed in May from the previous month, but the rate was higher than at the beginning of the year, according to the Greece Purchasing Managers' (PMI) Index.Released on Friday, the monthly index is the outcome of a survey of 300 companies carried out by NTC Research of the United Kingdom in conjunction with the Greek Procurements Institute. [18] Greece introduces "star-system" in hotel categoriesAthens, 02/06/2001 (ANA)Greek Development Minister Nikos Christodoulakis on Friday signed a presidential decree draft plan envisaging the implementation of a "star-system" in classifying the country's hotels, replacing an existing system of luxury, first, second and third categories.Under the new system, the country's hotels will be described as classic type hotels (one to five stars), motels (three to four stars), furnitured apartments (one to five stars) and classic type and furnitured apartments (four to five stars). Stars will be given on a base of strict technical and operational standards. The development ministry called on the country's hotels to submit reclassification applications by June 30. [19] Olympic Airways resumes live ticket auctions this monthAthens, 02/06/2001 (ANA)Olympic Airways on Friday resumed ticket auctions through the internet and a mobile phone wap technology service that will last until the end of June.The auctions are for tickets to nine domestic destinations. OA's internet site is www.olympicairways.gr [20] Greek clothes' exports rise 10.1 percent in 2000Athens, 02/06/2001 (ANA)The value of Greek clothes' exports totaled 1.38 billion euros in 2000 from 1.253 billion euros the previous year, an increase of 10.1 percent, Northern Greece's Clothing Enterprises Union said on Friday.The figures, based on statistics by Euratex, showed that exports to European Union member-states accounted for 75 percent of Greek exports, up 3.0 percent from 1999. Exports had recorded a 3.6 percent decline in 1999. Belgium (+80%), Denmark (+30%), Sweden (+17.2%) and the UK (+16%), recorded the biggest annual increases, while Ireland (-43%), Austria (-24%), Finland (-21%) and Italy (-9%) recorded declines. Export of Greek clothes recorded a significant 38 percent increase to countries outside EU, mainly Bulgaria, FYROM, Albania and Romania, where Greek clothing companies have manufacturing units. Exports to Russia jumped 105 percent, followed by the US (+81%), Cyprus (+29%) and Israel (+21%). Germany remained the biggest client of Greek clothes trailing, by far, the UK, France, the Netherlands and the US. Clothing imports to Greece rose 18.6 percent last year to 987.7 million euros from 833 million in 1999. EU imports accounted for more than 60 percent total imports, with Austria (+41%), the Netherlands (+40%), Denmark (+27%) and Belgium (+24%), recording the biggest annual increases. Bulgaria, FYROM, Romania, Albania and Serbia recorded the biggest annual increases in clothing imports outside the EU, followed by Cyprus (+73%), Bangladesh (+53%), India (+48%), China (+30%) and Syria (+28%). The figures showed a surplus in the clothing sector of 393 million euros last year. [21] Details set for long-term jobless to receive pensionsAthens, 02/06/2001 (ANA)Deputy Social Insurance Minister Nikos Farmakis on Friday set out the details for the long-term unemployed to receive pensions under the country's labor law.The minimum requirement for cover under the law is that the long-term jobless should have stamps equal to 1,500 daily wages for entitlement to a full pension from the state Social Insurance Fund, and to a supplementary pension. Men should be 60 years old and women 55 years old to benefit from the measure. Males in jobs that are classed as heavy and hazardous to health will have the age limit lowered to 55 years of age, and women in the same professions to 50 years of age. The jobless need to have been registered with the Organization for the Employment of Human Resources for at least 12 straight months. Also coming into effect under the deputy minister's decision is a reduction by two percentage points of employers' pension contributions to 11.33 percent from 13.33 percent. For companies to benefit, they have to award 10,000 drachmas to low-paid staff. [22] Anomeritis plays down significance of charges against ELGA chiefAthens, 02/06/2001 (ANA)Agriculture Minister George Anomeritis on Friday played down the significance of embezzlement charges brought against the director of the Greek Agricultural Insurance Organization (ELGA) Miltiadis Tsokas, saying that it was neither a financial nor political scandal."It is obvious that judicial authorities will investigate the legality of the decision to pay compensation to farmers through ELGA for crops damaged by hail. Of course this act is not a financial scandal, since the money was given to the farmers with transparency and proof of payment. Nor is it a political scandal, since the payment of this compensation was demanded by all trade union and cooperative organizations, local MPs and New Democracy mayors in writing and through questions in Parliament. "If any political scandal exists, it involves local ND officials who before the elections denounced ELGA and the Agriculture Ministry for not paying compensation, and took them to court after the elections for paying it," Anomeritis said. [23] Shop owners ask for early distribution of euro banknotesAthens, 02/06/2001 (ANA)The National Confederation of Greek Commerce on Friday asked the government to make euro banknotes available to the public before the European single currency is launched in physical form on January 1, 2002.The request for distribution of smaller denominations of notes along with a starter kit of coins at the end of 2001 was sent in a letter to National Economy and Finance Minister Yiannos Papantoniou. [24] Turkish businessmen make three-day visit to ThessalonikiAthens, 02/06/2001 (ANA)A 17-member delegation of Turkish businessmen involved in the embroidery sector in Istanbul and Izmir, on Friday concluded a three-day visit to Thessaloniki, northern Greece.The Federation of Embroidery Handicraftsmen invited the Turkish businessmen, while the initiative came from the Greek Compucon ABEE company, which is active in the software applications sector and is represented in Turkey. A similar visit on behalf of Greece is expected to take place during the summer. [25] Gov't calls tender for mobile phone permitsAthens, 02/06/2001 (ANA)The state's National Committee for Telecoms and Post Offices has called a tender for June 11 to sell four third-generation mobile phone licenses and one second-generation permit.On Friday, the committee released the documents for the tender, whose outcome is expected in July. At the weekend, companies interested in the tender will apply to bid. Services from third-generation mobile phone technology should be available to the public from 2002. Greece currently has four second-generation operators - Panafon, Telestet and Cosmote. [26] Merchant marine ministry drafts bill to allow for hiring of non-GreeksAthens, 02/06/2001 (ANA)The merchant marine ministry on Friday announced it was drafting a bill to allow the hiring of citizens from other European Union member-states to man its services.According to reports, the bill will exclude non-Greeks from holding posts dealing with civil defense, nationally sensitive data and military defense. [27] Greece introduces margin account system on TuesdayAthens, 02/06/2001 (ANA)Greece will introduce a margin account trading system on the Athens Stock Exchange next Tuesday following a decision by the Bank of Greece on Friday to set a maximum credit ceiling of 150,000 euros (51,112,500 drachmas) per investor for each ASE member.The central bank also decided that a minimum preserved margin rate would be set at 35 percent of a security portfolio's value. The margin is the difference between the current value of a security portfolio and an investor's debit account. The Bank of Greece the measures ensured a satisfactory flexibility for both securities firms and investors and offered adequate credit cover. Margin spreads will be determined by a securities firm and based on the portfolio's value. [28] Greek stocks plunge on ASE's debut as a developed marketAthens, 02/06/2001 (ANA)The Athens Stock Exchange's debut as a developed market, following its official inclusion in the MSCI global indexes on Friday, was marred by a sharp fall in equity prices that pushed the general index near the 3,000 support level.Traders said selling of blue chip stocks, mainly banks, by institutional investors kept prices under pressure for the fifth consecutive session pushing the market 6.58 percent lower. Selling intensified in the last 10 minutes of trading, a sign that some big players wanted to push the market lower before opening up new positions. Trading in banks and telecommunications shares accounted for 50 percent of the day's turnover. National Bank (-3.72%), Alpha Bank (-3.21%), Commercial Bank (-2.94%), Eurobank (-4.23%), Hellenic Telecoms (-2.06%) and Panafon (-3.53%) led the day's decline. The general index ended 2.54 percent lower at 3,010.29 points, off the day's highs of 3,111 points, while the new index FTSES Small Cap ended 1.74 percent lower to 982.61 points on its debut. Turnover was 294.47 million euros, or 100.34 billion drachmas. The FTSE/ASE 20 index for blue chip and heavy traded stocks ended 2.84 percent off to 1,757.83 points, and the FTSE/ASE 40 index eased 1.25 percent to 339.17 points. The parallel market index for smaller capitalization stocks ended at 289.15 points, off 1.10 percent. Broadly, decliners led advancers by 284 to 51 with another 23 issues unchanged. Hellenic Telecoms, National Bank, Interamerican Life, Alpha Bank and EFG Eurobank Ergasias were the most heavily traded stocks. [29] Equity futures end sharply lowerAthens, 02/06/2001 (ANA)Equity futures traded on the Athens Derivatives Exchange slumped on Friday, tracking a sell-off on the Athens bourse and underperforming their underlying indices.The underlying FTSE/ASE 20 index closed 2.84 percent down, and the FTSE/ASE 40 ended 1.25 percent lower. Traded were 8,821 contracts on turnover of 69.7 million euros. [30] Bond prices rise in brisk tradeAthens, 02/06/2001 (ANA)Bond prices in the domestic secondary market on Friday finished higher in heavy trade with players focusing on 20-year paper. The Greek benchmark 10-year bond showed a yield of 5.57 percent from 5.63 percent a day earlier.The yield spread over German bunds was 45 basis points from 44 basis points in the three sessions before. Turnover through the central bank's electronic system totaled 1.4 billion euros (506 billion drachmas) from 1.3 billion euros (468.5 billion drachmas) a trading day earlier. Buy orders accounted for the bulk of turnover. [31] Summer working hours for Attica shops and public services go into effectAthens, 02/06/2001 (ANA)Summer working hours went into effect for shops and public services in the Attica prefecture as of Friday and for a period of four months as a measure to combat pollution.Public utility and local administration employees will turn up for work at 7 a.m., while banks and their subsidiaries will open at 7.45 a.m. Moreover, supermarkets and other food stores will open at 7 a.m. and department stores at 9 a.m. In cases of working hour violations, offenders will be fined between 100,000 and one million drachmas and will be liable to prosecution. [32] Chris Woodhouse remembered in event in Athens UniversityAthens, 02/06/2001 (ANA)The actions and long-time relationship of love with Greece was the focus of a memorial held on Friday for Christopher Montague Woodhouse, a distinguished historian and friend of Greece, who died in February at the age of 83 in Oxford, England.The event took place at the Athens University grounds and was organized by the British Embassy in Athens and the Hellenic Foundation of European and Foreign Policy (ELIAMEP) in cooperation with the Athens University Political Science and Public Administration department. Speakers included British Ambassador to Athens David Madden, ELIAMEP member and Prof. Thanos Veremis and Prof. Yiannis Koliopoulos, Woodhouse's fellow resistance fighter Themis Marinos and Woodhouse's son Lord Terrington. They spoke of his long love affair with Greece that began when Woodhouse was the head of Britain's military mission in Nazi-occupied Greece and of his other "occupation" that of a prolific historian who focused on the Mediterranean ally he once served in. The highlight of his military activity in wartime Greece was the 1942 Gorgopotamos Bridge sabotage -- which resulted in a temporary interruption of German supply lines to Rommel's Afrika Corps -- the pre-eminent example of joint action by rival partisan groups operating in the country. Woodhouse remained a diehard friend of Greece after the war, often visiting the country. His last trip came in the summer of 2000. A prolific writer of historical monographs, Woodhouse focused sharply on post-WWII Greek events, ranging from historical research on the Civil War of the late 1940s to his "Rise and Fall of the Greek Colonels" -- a brilliant 'autopsy' of the 1967-1974 military junta in Greece. Greece awarded him the Medal of the Order of Phoenix for his actions during the occupation, while his homeland bestowed on him the Medal of the Order of the British Empire. Since the death of his brother in 1998 Woodhouse inherited the family title of Lord Terrington. [33] Athens mayor presents progress of public works in AthensAthens, 02/06/2001 (ANA)During a press conference he gave on Friday, Athens Mayor Dimitris Avramopoulos presented the progress of works begun during his term as Mayor and stressed the great efforts being made by the capital's municipal authority and himself to complete the projects contained in the municipality's last budget.According to the mayor, 98 per cent of planned projects were now finished. He said that before his term as mayor was over and he began his career as a politician at the head of his new party, the Movement of Free Citizens (KEP), he would have fulfilled all his promises and completed all the projects he had planned. Avramopoulos stressed that he had not been supported by the government in this effort, and that many of the projects which had fallen behind had done so because of bureaucratic delays in various ministries. In response to questions, Avramopoulos once again noted the need to create an Olympic Games ministry, saying that Greece had fallen very far behind and would be hard pressed to complete all the preparations needed in two years. [34] Fifth Dialogue Cycle to focus on human rights and role of ChurchBRUSSELS, 02/06/2001 (ANA)The Fifth Dialogue Cycle between the Orthodox Church and the Parliamentary Group of the European Peoples' Party-European Democrats (EPP-ED) will take place in Crete on Thursday and Friday and will focus on human rights, the citizens' society and the roles of the Church and the state.The meeting, to be held at the Orthodox Academy of Crete in the town of Kolymbari, will be attended by Orthodox Church personalities from all over the world, including Archbishop of Albania Anastasios and representatives of other Christian Churches such as Cardinal Silvestrini. Addresses will be made at the opening of the session by main opposition New Democracy party leader Costas Karamanlis, EPP-ED Parliamentary Group President Hans-Get Petering, EPP President Wilfried Martens and ND Honorary President Constantine Mitsotakis. The dialogue between the Orthodox Church and the EPP-ED's Parliamentary Group has been organized on an annual basis since 1996 in cooperation with the Ecumenical Patriarchate in Istanbul. Past sessions have focused on a series of present-day philosophical and social issues such as relations between the Church and the state, quality of life, environmental protection and technological developments. Athens News Agency: Daily News Bulletin in English Directory - Previous Article - Next Article |