Athens News Agency: Daily News Bulletin in English, 03-10-04

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

CONTENTS

[01] Alternate FM meets Croat foreign minister, signs agreement

[02] EU defense ministers discuss NATO-EU relations at informal conference

[03] Gov't: U.S. report on terrorism a 'product of bureaucratic thinking'

[04] U.S. State Department spokesman comments on terrorist group list

[05] PM Simitis confers with ministers on tourism issues and policy

[06] US ambassador notes 'significant progress' in Greece in recent years

[07] VPRC opinion poll sees ND lead over PASOK

[08] Patriarch briefs Parl't speaker of crisis in Church relations

[09] Vartholomeos proposes meeting in Istanbul to Christodoulos

[10] ND leader tells party labor group mentality of establishment must change

[11] PASKE trade union movement confident ruling PASOK will again win next elections

[12] Hellenic Petroleum expands activities in Albania

[13] Greece plans to attract 20 mln tourists by 2010

[14] Greek mutual funds' assets fell 2.12 pct in September

[15] Court rules wildcat strike by agricultural technicians, vets illegal

[16] Canada awards three Greek companies

[17] Cheaper calls to mobile telephony networks from Sunday

[18] EU Commission approves Philip Morris-Papastratos deal

[19] Greece, Cyprus forge agreement on oil stocks

[20] Gov't to announce measures to boost tourism industry

[21] Greek economic weekly review

[22] ASE ends week 4.41 percent higher

[23] Culture minister and IOC president discuss Athens Olympic Games preparations

[24] Thessaloniki hospital gives negative vote to drug rehab center

[25] ESHEA board visits president of the republic

[26] Security corps plan protests next week

[27] Deputy FM attends presentation of collective work 'Africa and Development'

[28] Third European Meeting on Hair Analysis to be held on Crete

[29] Cyprus President reiterates will for Cyprus settlement before May 2004

[01] Alternate FM meets Croat foreign minister, signs agreement

Alternate Foreign Minister Tassos Yiannitsis, here on an official visit, on Friday had a meeting with Croatian Foreign Minister Tonino Picula and signed a cooperation agreement where Greece pledges financial assistance to Croatia to remove landmines within its territory.

Under the agreement, Greece will provide 700,000 euros a year for three years for clearing landmines, while the work will be carried out by a Greek non-governmental organization.

On the Greek side, the offer is a gesture of goodwill for peace in the Balkans, while Picula termed the agreement ''an important step toward normalizing life in the region.''

In a joint press conference afterward, Yiannitsis said that Greece will continue to support Croatia's bid to join the EU and had set in motion measures to develop economic and tourism ties between the two countries, whose results would be apparent in the coming months. (Continued on next page)

One of these is the imminent creation of shipping lines through the Adriatic and Ionian Seas that will use the proximity of Dubrovnik and Corfu to attract tourists.

The two ministers also called for the speedy completion of north-south road links in the Balkans, while stressing the need for cooperation by Albania and Montenegro where work on the roadway has fallen behind.

Similar topics were discussed by the delegation of business people and Greek National Tourism Organization (GNTO) staff accompanying the minister and their Croatian counterparts.

Greek diplomats said it was important for tourism development in the two countries to be viewed as a ''joint package'' rather than competitively.

According to Yiannitsis, meanwhile, Croatia was a highly promising region for the development of bilateral economic relations since these were currently running well below their potential.

He noted that the volume of transactions with Croatia and Greek investments in the area were smaller than in any other Balkan country.

The Croatian side thanked the Greek minister for the Greek EU presidency's contribution to the acceptance of Croatia's application to become an EU candidate-country, while expressing hope that it will join at the same time as Bulgaria and Romania in 2007.

Prior to his meeting with Picula, the Greek minister was received by Croatian President Stjepan Mesic, who is due to carry out an official visit to Greece on November 18.

[02] EU defense ministers discuss NATO-EU relations at informal conference

European Union defense ministers examined relations between NATO and the EU and progress achieved concerning the Greek initiative on the creation of a European armaments organization on the first day of their informal conference in Rome on Friday.

Defense Minister Yiannos Papantoniou said two trends exist in Europe on the issue of NATO-EU relations. The Atlantists who believe European defense should be subjected and incorporated in NATO, while certain countries such as Greece, France and Germany believe European defense should enjoy autonomy and serve aims of the European political union and common foreign policy with the US and NATO being strategic partners with whom they will function in a supplementary fashion and in no way competitively.

The same countries also believe that Europe has no autonomy in the sector of armaments systems and the EU's rapid reaction force should function in a supplementary way with NATO's corresponding force.

Papantoniou assessed that a convergence of views exists with Britain and other countries and expressed hope that the final decisions will cover a wide number of EU member-states to enable Europe to acquire the greatest possible credibility in international developments.

In parallel, he urged Greek defense industries to take initiatives to be incorporated in the European armaments system if they desire to become big businesses.

The issue of European defense will also be raised at the intergovernmental conference on the European constitution and finalized decisions are expected by early next year.

On the question of the European armaments organization, Papantoniou expressed satisfaction over the fact that it was agreed that this organization will obtain an institutional and legal standing by the end of 2003 so that it will be able to undertake action next year on the creation of a common European weaponry systems market.

He observed that European defense industries will benefit indirectly through the European armaments organization, increasing their competitiveness and strengthening employment in the ranks of the EU.

The defense minister clarified that no international issues were discussed during the conference.

Papantoniou had a private meeting in the afternoon with his French counterpart Michele Alliot Marie, while on Saturday morning he will be meeting his German counterpart.

On Saturday, the EU defense ministers will discuss the EU's role and peace operations in the Balkans, as well as the Mediterranean dimension of the European defense and security policy.

[03] Gov't: U.S. report on terrorism a 'product of bureaucratic thinking'

Athens, 4/10/2003 (ANA)

He also noted the positive comments made by U.S. officials about the high level of cooperation between Greece and the U.S. in combatting terrorism and comments by U.S. Ambassador to Greece Thomas Miller that ''did not move in the same direction''.

A high-profile trial of 19 suspected members of ''November 17'' - including the group's alleged leader and main operatives - is currently underway in Greece, while police believe that they have captured and brought to justice the main body of the terror band.

The spokesman said the report was a ''word for word repetition of last year's comments'' and stressed that its authors should take more care in order to reflect reality as it really was and not how they thought it was.

Regarding with a bulletin attached to the report referring to the Greek state media, saying that these were not fully independent, Protopapas stressed that the writers of the report were ''unaware of the situation in Europe''.

''Throughout Europe there is powerful state television and great steps in objective reporting have been made. In Europe and in Greece we have and will have strong state television, regardless of whether the Americans realize this or not,'' he said.

Opposition parties react to U.S. State Department terrorism report on Greece: Commenting on a report by the U.S. State Department that listed the Greek terrorist groups ''November 17'' and ''Revolutionary Cells'' among 25 existing terrorist organizations worldwide, main opposition New Democracy (ND) party spokesman Theodoros Roussopoulos said that Greece is doing what is necessary for the Athens 2004 Olympic Games to be safe.

''For this reason Greece is cooperating closely with countries that have experience on confronting terrorism,'' he said, while commenting on the statement made about the Greek mass media he noted that the Greek constitution clearly defines the framework of their operation.

The Coalition of the Left, Movements and Ecology (Synaspismos) party cadre Nikos Houdis stressed that the U.S. report that raises the issue of terrorism again is an attempt to escalate U.S. intervention in Greece's political developments.

[04] U.S. State Department spokesman comments on terrorist group list

WASHINGTON 4/10/2003 (ANA/T. Ellis)

''We do look at each of the groups as we redesignate them. And they come up -- what? -- every two years for formal redesignation. I haven't looked into the November 17th issue. I think if you look at the Patterns of Global Terrorism report, which we put out every year, you'll have to see what we believe the current status is. Certainly, we believe that Greece has made great strides against that organization; that the trials that took place, that the effort that the police and authorities in Greece have made have been very, very effective in reducing the capabilities of the organization. I think our people just at this moment felt we couldn't guarantee that they were completely out of business. And there are other groups that are, I think, still on the list that may not be active at this moment, but until we know for sure they're out of business, we tend to maintain them,'' Boucher said.

[05] PM Simitis confers with ministers on tourism issues and policy

Athens, 4/10/2003 (ANA)

After the session, Tsohatzopoulos told reporters that preparations were made for an inter-ministerial conference on tourism slated to take place next week.

He explained that the new policy proposal for the development of Greek tourism would be tabled with the newly-formed inter-ministerial committee.

The minister reiterated that the target was an increase in incoming tourists, reaching an annual 20 million by the year 2010, as well as an increase in the tourism sector's contribution to GNP by at least 3 percentage points.

[06] US ambassador notes 'significant progress' in Greece in recent years

WASHINGTON 4/10/203 (ANA - T. Ellis)

Miller praised the Greek EU presidency, during the first half of the year, for its ''excellent performance under difficult circum-stances'', and opined that the two issues that would be prevalent over the coming months on Greece's domestic political scene were the national elections and preparations for the Athens 2004 Olympic Games.

On the ongoing trial of 19 alleged members of the 'November 17' terrorist group, Miller simply said that the trial was nearing the end, adding that he did not wish to comment on it because Greece is a just state and the legal process must complete its course. He stressed, however, that the US embassy had interest in the trial ''because five (US embassy) staff members were murdered by that organization''.

He also spoke on Greek-US cooperation in the Balkans and the Middle East, while, on Iraq, he said that ''friends may have differences, but they remain friends'', adding that there was a coincidence of views with respect to the general goals.

On the Cyprus issue, Miller said that the US government was on the same wavelength with the Greek government, and that the 1995 choice of Cyprus' accession course to the EU had been a correct one.

Turning to Greek-Turkish relations, Miller noted that although the issue of the Aegean had not been resolved, there was no a very good and direct communication between Greece and Turkey, contrary to the past when in times of crisis the US government would be called on to intercede at the last minute.

With respect to security at next year's Olympic Games in Athens, The US envoy said that following the September 11, 2001 terrorist attacks in New York and Washington "we have been living in a more dangerous world", adding that the US government was working very closely with the Greek government on the issue of security, in the framework of a seven-nation advisory committee.

"Much is being written in the international press, but the important thing is the level of security on the 13th of August, 2004 and not on the 2nd of October, 2003", Miller said, explaining that much was being done daily that never reached the spotlight, such as tests, emergency drills, etc., for the purpose of providing the greatest possible security and protection and reduce the risks.

Questioned on a recent article in the Washington Post, Miller said that similar articles had appeared in the past in the international press and perhaps more would appear in the future, and urged that calm prevail so that attention is focused on the goal, which is a safe Olympic Games.

"Things are moving in the right direction, and it is more important for one to focus on the cooperation, despite the speculations appearing in the press," he said.

Asked whether Al Qaida could pose a threat for the Athens Olympics, Miller said he had no information to back such claims, which appeared in a New York Times article in August.

Questioned on the "difficult and dangerous neighborhood" that Greece was situated in, the US ambassador noted that Greece indeed was in a neighborhood that in the past was distinguished by its instability, but added that today the country was playing an important role in the stabilization of the region.

[07] VPRC opinion poll sees ND lead over PASOK

Athens, 4/10/2003 (ANA)

According to the poll, appearing in Friday's issue of Kathimerini newspaper, ND was ahead with 37.4 percent against 29.7 percent for PASOK. In a similar poll conducted by VPRC last May, ND was ahead of PASOK with 8.8 percentage points.

In another poll question on who was the most suited for prime minister, PASOK leader and current premier Costas Simitis was leading with 38.1 percent against 36.8 percent for ND leader Costas Karamanlis.

Also, 56.5 percent of respondents believed ND would win the general elections, against 28.7 percent who believed PASOK would emerge the winner.

Further, Karamanlis polled as the most popular political leader (among the party voters), with 52.8 percent, followed by Simitis with 47.2 percent, SYN leader Nikos Constantopoulos with 44.7 percent, DHKKI leader Dimitris Tsovolas with 38.3 percent, KKE leader Aleka Papariga with 22.5 percent, and LAOS leader George Karatzaferis with 21.6 percent.

Respondents felt that the most important problem facing the country was unemployment, with 34.2 percent, followed by the economy, with 17.1 percent, and inflation-high costs with 10.3 percent.

In addition, 13.5 percent of respondents who declared them-selves PASOK voters said they intended to vote for ND in the elections, while, conversely, 2.4 percent of declared ND voters said they would vote for PASOK.

Government spokesman Christos Protopapas, responding to press questions at a regular briefing, declined comment on the VPRC poll results.

"I do not comment on 'refrigerator' polls which were conducted at the same time as the previous ones that have already been made public," Protopapas said.

ND honorary president, MP and former premier Constantine Mitsotakis said that ND's lead over PASOK was ''irreversible''.

''PASOK has lost the elections,'' Mitsotakis said, adding that the question remained of why, despite that, Simitis persisted in harming the country by perpetuating a pre-electoral period that did not benefit him in any way.

[08] Patriarch briefs Parl't speaker of crisis in Church relations

Athens, 4/10/2003 (ANA)

The Patriarch's letter was delivered to Kaklamanis by Pergamus Metropolitan Ioannis, who briefed Kaklamanis on the latest developments on the issue and the correspondence between Phanar and the Autocephalous Church of Greece.

A Parliament announcement released later in the day expressed hope that the crisis would be overcome, ''both for the good of the Ecumenical Patriarchate, which is the head of Orthodoxy, and of the Greek Church''.

According to an ANA dispatch from the seat of the Patriarchate in Fanar, Istanbul, meanwhile, some high-ranking prelates of the Greek Church disagree with the stance adopted by Athens Archbishop Christodoulos in his confrontation with the Patriarchate over the ecclesiastical administration of the so-called ''New Lands'' - territories ceded to the 'stewardship' of the Church of Greece in 1928.

These are comprised of the bishoprics of northern Greece, as well as the northern and eastern Aegean. Northern Greece and the eastern Aegean islands became Greek territory after 1912-13.

The dispute erupted after the death of Thessaloniki Metropolitan Panteleimon II during the summer, when the Patriarchate demanded to view a list of potential candidates for the vacant seat.

[09] Vartholomeos proposes meeting in Istanbul to Christodoulos

ISTANBUL, 4/10/2003 (ANA - A. Kourkoulas)

The Patriarch proposed that the "meet and discuss in our home here (Istanbul)," explaining in the letter that "we believe that the place and the time are the most proper in light of the work with the upcoming Holy Synod of the Greek Orthodox Church meeting," and the prior engagements in Brussels.

In that same letter Vartholomeos reiterated that the Ecumenical Patriarchate "does not cause problems or divisions and does not raise demands, as it is presented, rather it simply wishes for the respect and maintenance of the ecclesiastical and canonical decisions".

[10] ND leader tells party labor group mentality of establishment must change

Athens, 4/10/2003 (ANA)

Karamanlis said he believes matters can change with confidence, stability and new paces, adding that ''creative changes require the participation of all and the assistance of active citizens.''

The ND leader stressed that ''after two decades of inconsistency and unfulfilled promises it is natural for citizens to have lost their confidence in politics. They do not trust those who have ruled and taken decisions for 20 whole years, but at the same time they have increased demands from the entire political world.''

Karamanlis said he will not be swayed by old-party tactics or appear with untenable promises during the election period, stressing that ''false words do not go far nor do they suit our party. We mean what we say, we speak with moderation, we are responsible and we invest in consistency and reliability.''

He further said the country needs a new economic policy, which guarantees speedy development, the strengthening of employment and the reduction of social and regional inequalities.

[11] PASKE trade union movement confident ruling PASOK will again win next elections

Athens, 4/10/2003 (ANA)

The GSEE president, addressing himself to the government and PASOK, asked on behalf of the trade union wing that they make clear their positions on social and economic matters. ''What is required are clear solutions, completely comprehensible to the working people,'' he concluded.

PASOK Central Committee Secretary Michalis Chrysohoidis referred to the strikes which have been announced, particularly in the public sector. He said the strikes were not justified, noting that the government and PASOK ''have proven that they believe and honor social dialogue.''

Chrysohoidis reiterated that the general elections will be held in spring 2004 and called on the trade unionists, in cooperation with the ruling party, to protect the social gains ''from the greed of the interests which (main opposition) New Democracy expresses.''

Labor and Social Security Minister Dimitris Reppas underlined in his speech that ''a united and large PASOK will prove to be unbeatable in the next elections as well.''

The labor minister said ''we changed Greece,'' underlining that the governments of PASOK have created undisputable social gains.''

The PASKE conference ends on Saturday.

[12] Hellenic Petroleum expands activities in Albania

Athens, 4/10/2003 (ANA)

EKO said its investment program in Albania, currently under implementation would total 38 million euros.

Hellenic Petroleum plans to invest in exploration and processing of hydrocarbon products in Albania and to explore activities in other energy sector, such as natural gas and electricity.

[13] Greece plans to attract 20 mln tourists by 2010

Athens, 4/10/2003 (ANA)

Speaking to reporters, after the meeting, Development Minister Akis Tsohatzopoulos said that this new institution would be presented with a new political plan for the development of Greek tourism.

The Greek minister reiterated that Greece planned to attract 20 million tourists by 2010 and to raise tourism's contribution to the country's Gross Domestic Product by 3.0 percent, at least.

Tourist arrivals up 1.6 percent in 2002, report: Tourist arrivals in Greece rose 1.6 percent in 2002 compared with the previous year, the National Statistics Service said on Friday.

Presenting its official report on the tourism sector, NSS said that arrivals from Europe rose 1.1 percent to 13,236,510, of which 9,637,540 were EU citizens (down 1.8 percent from 2001). Arrivals from Asia rose 0.3 percent to 609,509, from Africa fell 9.1 percent to 52,800, from America fell 6.2 percent to 217,369, and from Oceania fell 11 percent to 62,811.

The United Kingdom and Germany were the countries with the biggest numbers of tourist arrivals in 2002. Arrivals from the UK totalled 2,858,360 (or 20.2 percent of total arrivals), while arrivals from Germany totalled 2,510,849 (17.7 percent of total arrivals).

NSS said that air and sea arrivals' rates fell in 2002 (by 3.7 percent and 1.4 percent, respectively), while rail and road arrivals rose by 3.7 percent and 23 percent, respectively over the same period.

Tourist arrivals from Italy totalled 805,008 (down 9.5 percent), from Denmark 342,966 (down 6.3 percent), Spain 153,039 (down 10.7 percent), Sweden 465,772 (down 9.9 percent), Japan 69,718 (down 5.0 percent), US 146,754 (down 10.9 percent), and Australia 55,160 (down 11.8 percent).

Sea cruise tourist arrivals rose 18.8 percent in 2002, NSS said.

Regulatory body rules in favor of travel agents in fee rift with airlines: The fair competition commission on Friday ruled in favor of a petition by travel agents that disputed a decision by domestic airlines to reduce their commissions on ticket sales for domestic flights.

Olympic Airways and Aegean Airlines had reportedly lowered commissions for travel agents to 6.94 percent from 9.25 percent.

The commission said that the two airlines had taken concerted action to lower fees, hurting travel agents and breaching rules of fair competition, fining them a total of 210,000 euros.

The action was instigated by the HATTA travel agents' trade group.

[14] Greek mutual funds' assets fell 2.12 pct in September

Athens, 4/10/2003 (ANA)

A monthly report by the Union of Institutional Investors showed that capital outflows equaled inflows at 524.57 million euros in September.

The September figures halted a steady advance, both in value and returns, of the market, a trend which had accelerated since July. The sector's assets, however, remain above the levels recorded in the beginning of 2003 (25.38 billion euros).

More analytically, in September, almost all categories and sub-categories of mutual funds reported a decline in asset and capital outflows, particularly domestic money funds (with an outflow of 300.82 million euros).

Domestic equity funds recorded an 8.68 percent fall in assets to 3.73 billion euros and capital outflows of 34.35 million euros in September.

Domestic combined funds recorded a 6.49 percent fall in assets and outflows of 190.98 million euros in the month, while domestic bond funds recorded a 0.42 percent increase in assets and outflows of 12.15 million euros.

Bond funds saw their market share rise to 22.46 percent in September from 21.90 percent in August. Domestic bond funds reported a 0.42 percent rise in assets to 5.38 billion euros and an average return of 2.62 percent so far this year.

Foreign bond funds reported a 0.83 percent fall in assets to 784.86 million euros and an average return of 0.14 percent.

International bond funds' assets rose 1.93 percent to 563.09 million euros and an average return of 0.19 percent.

Money market funds saw their market share rise to 52.50 percent in September from 51.62 percent in August.

Domestic money funds reported a 0.50 percent fall in assets with an average return of 1.68 percent.

International money funds' assets rose 5.06 percent with an average return of -1.42 percent so far this year.

Equity funds saw their market share falling to 14.07 percent in September from 15.01 percent in August.

Domestic equity funds' assets fell 8.68 percent to 3.73 billion euros with an average return of 11.60 percent.

Foreign funds' assets eased 4.88 percent to 431.62 million euros and an average return of 5.20 percent.

International funds' assets dropped 4.89 percent with an average return of 8.58 percent so far this year.

Finally, combined funds saw their market share drop to 10.97 percent in September from 11.48 percent in August.

Domestic funds' assets dropped 6.49 percent with an average return of 6.74 percent in 2003.

Foreign funds reported a 6.49 percent fall in assets and a 0.65 percent average return, while international funds' assets fell 4.30 percent with an average return of 0.31 percent this year.

[15] Court rules wildcat strike by agricultural technicians, vets illegal

Athens, 4/10/2003 (ANA)

The court accepted the Agriculture Ministry's argument that the strike was illegal because it had not been decided by the federation's general assembly but by the leadership of the unions that made it up.

It said the strike was an abuse of position since the strike created public health risks and had a serious impact on the economy.

The decision means that all agricultural technicians that do not return to their duties face immediate arrest and detention.

[16] Canada awards three Greek companies

Athens, 4/10/2003 (ANA)

The awards were presented to P.A.S.S. Defense, to Psychogios Publications and to Tour Greece SA.

Mr Sommerville underlined Greece's convergence with the European Union and the opportunities offered to Canadian companies for investments. He stressed that a total of 350 Canadian enterprises were having economic transactions with Greece with many of them working in infrastructure projects of the Athens 2004 Olympic Games.

The Canadian ambassador also praised the development of a Hellenic community in Canada.

P.A.S.S. Defense is a Greek company focusing on designing and maintenance of security and defense systems and a manufacturer of biochemical and nuclear protection systems.

Mr Sommerville also presented the embassy's new trade consultant, Mr Ben Gaylor, who is replacing Mr Emmanuel Kapetanakis.

[17] Cheaper calls to mobile telephony networks from Sunday

Athens, 4/10/2003 (ANA)

Emmanuel Giakoumakis, president of a National Commission of Telecommunications and Post (EETT), said the new pricing policy was a positive development likely to benefit consumers and predicted further price cuts in the future.

[18] EU Commission approves Philip Morris-Papastratos deal

Brussels, 4/10/2003 (ANA)

In its announcement, the EU's executive said that after thorough examination of the takeover deal it came to the conclusion that the deal did not cause any competition problems in the Greek tobacco market.

The Commission, also, did not find any serious competition problems arising from the takeover deal despite the fact that Philip Morris would be the leader in the domestic market.

The Greek tobacco market is characterized by strong competition and diversification as all major international players were participating in the market.

Philip Morris is a member of Altria Group, Inc, a multinational company that produces and distributes cigarette brands like Marlboro, L&M and Philip Morris around the world. Papastratos is a producer and distributor of tobacco products and brands like Assos and President in Greece and Romania.

[19] Greece, Cyprus forge agreement on oil stocks

Nicosia 4/10/2003 (ANA/ G.Leonidas/ CNA)

Signing for Greece was visiting Development Minister Akis Tsohatzopoulos; and for Cyprus, the commerce, industry and tourism minister, Giorgos Lillikas.

Lillikas told a news conference that the European Union allowed member states to keep their strategic oil stocks in other countries of the bloc, following an interstate pact.

A technical study was underway to determine the quantity of stocks to be stored in Greece, and the cost. In addition, a tender would be held in Greece to find a company that would hold the products, he added.

The two countries also signed cooperation protocols in energy and industry.

Tsohatzopoulos welcomed the latest agreements between Greece and Cyprus, saying the countries were working to tighten cooperation and boost economic growth.

[20] Gov't to announce measures to boost tourism industry

Athens, 4/10/2003 (ANA)

Sources said on Friday that the steps were likely to include lifting curbs on the construction of new hotels, also in areas currently classed as satiated for accommodation.

In addition, disincentives would be removed to applying for construction permits, reducing red tape, the sources said.

Finally, the Greek National Tourism Organization is likely to receive approval for a change in status to an SA company, allowing greater operational flexibility.

The decisions are to be taken at a ministers' meeting chaired by Prime Minister Costas Simitis.

[21] Greek economic weekly review

Athens, 4/10/2003 (ANA)

Economy and Finance Minister Nikos Christodoulakis stressed that the new budget was promoting a more fair distribution of incomes, while Prime Minister Costas Simitis said 2004 was the year of promoting social convergence and of the Athens 2004 Olympic Games. All opposition political parties criticized the government's draft budget plan.

In other headline news this week:

Workers in the public sector would receive a pay rise of an average 5.4 percent next year.

FinMin Nikos Christodoulakis and Development Minister Akis Tsohatzopoulos met with Prime Minister Costas Simitis and discussed the country's tourism policy. Mr Tsohatzopoulos said that authorities aimed to attract 20 million tourists annually by 2010.

Tourist arrivals rose 1.6 percent in 2002, official figures showed on Friday. UK and Germany were the main sources of tourism for Greece.

National Bank of Greece's analysts expect domestic banks' profitability to rise further with the help of high lending rates to households and small- and medium-size enterprises in the medium-term. The same analysts do not exclude a further boost in bank's profits by an expected economic recovery and a new rally in international stock markets.

Merchant Marine Minister George Paschalidis demanded an extra 200 million euros in funds to finance necessary projects in Greek ports, saying that the country of 1,000 ports needed more money and better infrastructure.

[22] ASE ends week 4.41 percent higher

Athens, 4/10/2003 (ANA)

The general index ended 1.80 percent higher at 2,089.90 points, after briefly surpassed the 2,100 level in intra-day transactions. The index ended the week with a net gain of 4.41 percent.

Turnover was a moderate 119.2 million euros. All insurance sectors scored gains with the Insurance (9.32 percent), Publication (8.22 percent) and Textile (3.59 percent) sectors recording the biggest percentage gains of the day.

The FTSE/ASE 20 index for blue chip and heavy traded stocks rose 1.69 percent, the FTSE/ASE MID 40 index jumped 2.99 percent and the FTSE/ASE SmallCap 80 index soared 3.67 percent.

Broadly, advancers led decliners by 318 to 21 with another 19 issues unchanged.

Bond Market Close:

Buyers lag sellers on Friday

Greek Benchmark 10-Year Bond