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Athens News Agency: Daily News Bulletin in English, 04-09-09

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

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

September 9, 2004

CONTENTS

  • [01] Bank of Greece governor optimistic over country's growth prospects
  • [02] Prime Minister continues consultations ahead of Thessaloniki speech
  • [03] PM congratulates Coordinating Council for Olympic Games Security
  • [04] Greece sends humanitarian aid, pharmaceutical supplies to Beslan terror victims
  • [05] COREPER discusses proposal for financing Turkish Cypriots
  • [06] Planned changes to football club federation, HOC elections will go ahead, gov't stresses
  • [07] UN High Commission for Refugees seeks better conditions for illegal immigrants on Samos
  • [08] Justice minister begins tour of prisons with visit to Elaiona drug rehab centre
  • [09] PASOK party leader George Papandreou holds talks with industries, civil servants union leaderships
  • [10] Coalition leader criticizes gov't handling of violence after Albania-Greece soccer match
  • [11] Spyros Kapralos new Athens Stock Exchange president
  • [12] Percentage of foreign investors in Greek stock market increases in August
  • [13] Finance minister says economic policy will target growth and employment
  • [14] Greek energy market growing slowly, report says
  • [15] Gov't announces plan to expand bio-farming
  • [16] Gov't in talks to restrain price hikes for staple foodstuffs
  • [17] Greek state bond market reports record turnover in August
  • [18] Athens bourse close: Stocks dive as foreign markets falter
  • [19] Paralympic Flame to be lit Thursday
  • [20] Cypriot government says ''cabinet'' decisions illegal

  • [01] Bank of Greece governor optimistic over country's growth prospects

    Athens, 9/9/2004 (ANA)

    Bank of Greece Governor Nikos Garganas, speaking during a luncheon given by the board of the Greek Banks Union on Wednesday, appeared optimistic over the country's growth prospects and predicted that its GDP will increase by four percent in 2004.

    The Bank of Greece believes that the slowdown presented by the economy's growth rate during the second quarter of the year will be reversed in the third and fourth quarters.

    As regards 2005, the Bank of Greece's board believes that maintaining the economy's growth pace will depend primarily on the promotion of infrastructure projects in the countryside.

    Tendering for these projects, which had been neglected due to projects being carried out for the Olympic Games, can keep demand at a satisfactory level, it was added.

    In parallel, next year's growth performances are linked to the country's ability to improve the absorption of 3rd Community Support Framework funds.

    On the other hand, the Bank of Greece's board expressed concern over the acceleration of inflation, anticipating that inflation will reach 3.5 percent on average during the last quarter of 2004.

    [02] Prime Minister continues consultations ahead of Thessaloniki speech

    Athens, 9/9/2004 (ANA)

    Prime Minister Constantinos Karamanlis on Wednesday continued his meetings with representatives of productive bodies, politicians and unions, ahead of his inaugurating speed at the Thessaloniki International Trade Fair this weekend.

    The Premier met with former ND president Miltiades Evert to discuss the economy. Speaking to reporters, after the meeting, Evert said that he and Mr Karamanlis had agreed on an economic policy that would support growth and not on an austerity policy. Evert said he opposed the idea of new general elections in the country early next year and said that a recent talk over a new President of the Republic was untimely.

    The Prime Minister also met with the presidency of the Greek National Federation of Commerce (ESEE) and PASEGES, the biggest cooperative union in the agricultural sector. Speaking to reporters, after the meeting, the presidency of ESEE said that they were satisfied with the government's policy on small- and medium-sized enterprises.

    [03] PM congratulates Coordinating Council for Olympic Games Security

    Athens, 9/9/2004 (ANA)

    Prime Minister Costas Karamanlis congratulated members of the Coordinating Council for Olympic Games Security for the excellent work in implementing security measures for the Olympic Games, and for the staging of the Olympics in general, during the council's meeting on Wednesday which Karamanlis attended for the first time.

    The purpose of the Council's fifth meeting was to make an evaluation of the Olympic Games and to serve as an informational session on the upcoming Paralympic Games, Public Order Minister George Voulgarakis explained.

    Speaking of the Paralympic Games, Voulgarakis said that security measures will be very tight, but as discreet as they were during the Olympics. He called on Greek citizens to contribute to this effort the way they did for the Olympic Games and asked for people to be more sensitive to the needs of those with disabilities when crossing streets, and waiting on queues.

    Regarding the soccer match between Greece and Turkey scheduled to take place on Wednesday evening, Voulgarakis said that extra security measures had been taken. He pointed out that sports events are an opportunity for joy and celebration and added that people themselves must protect this festive atmosphere. He emphasized that it is important that people participate in these events with civility and in a way that is worthy of all the impressions Greece created worldwide in recent months.

    Various ministers, Athens 2004 President Gianna Angelopoulos-Daskalaki and Executive Director Marton Simitsek and others were among those present at the meeting.

    PM says present-day threats can only be handled with international cooperation: Prime Minister Costas Karamanlis, addressing a meeting of the Coordinating Council for Olympic Security at the public order ministry on Wednesday, on the occasion of the account made of the Athens Olympic Games, referred to the need for international cooperation in handling present-day threats.

    "No country can handle present-day threats on the international horizon, the so-called asymmetrical threats, outside the framework of close international cooperation and this is what Greece also does," he said.

    Karamanlis expressed his satisfaction and the gratitude of the government and of the Greek people to security services for the excellent carrying out of their duties and thanks to which Greece hosted excellent Olympics.

    Police Chief Fotis Nasiakos gave the prime minister a replica of Macedonian emblems.

    [04] Greece sends humanitarian aid, pharmaceutical supplies to Beslan terror victims

    BESLAN 9/9/2004 (ANA - F. Karaviti)

    The first consignment of humanitarian aid and pharmaceutical supplies from Greece for the relief of terror victims in the North Ossetia town of Beslan in Russia left Elefsina in a C-130 military transport plane. Four tons of pharmaceuticals, medical and school supplies were delivered to Russia's Crisis Management Ministry earlier on Wednesday.

    According to Evripidis Stylianidis, Deputy Foreign Affairs Minister, Greece had been one of the first countries to respond to the Russian government's call for assistance, through an initiative organized jointly by the foreign ministry and the Church of Greece non-governmental organization "Solidarity".

    According to the minister, Greece was also the first country that had offered to provide emergency humanitarian relief in the framework of developmental cooperation, contributing to the rebuilding or replacement of the demolished school in Beslan where the tragedy occurred.

    "This action by the State and Church indicates not only our condemnation of international terrorism but our hands-on sup-port for its innocent victims," the minister said.

    The Greek delegation headed by Spyros Xanthopoulos, representative of the Foreign Affairs Ministry's Department of Inter-national Economic Relations and Development (YDAS) and Solidarity Director Dimitris Fourlemadis visited the school where the tragic events took place, the hospital where victims are being hospitalized, and the family of Yiannis Kanidis, the Greek 74-year old teacher who was among those killed in the siege and conveyed the condolences of the Greek government and of Archbishop of Athens and All Greece Christodoulos.

    Aside from Greece, another 25 countries have sent humanitarian aid so far, including the US, Germany, Italy and others.

    [05] COREPER discusses proposal for financing Turkish Cypriots

    BRUSSELS 9/9/2004 (ANA/G.Zitouniati-CNA)

    The regulation proposed by the European Commission to finance the Turkish Cypriots with 259 million euro was discussed on Wednesday in depth by COREPER, at the initiative of the Dutch presidency of the EU.

    On the other hand, no mention was made on the controversial proposed regulation providing for the direct trade between the Turkish occupied areas and the EU.

    Wednesday's meeting was held behind closed doors and did not lead to any convergence of views but allowed for the determination of all the points of disagreement. Some of the positions presented by the Republic of Cyprus gained clear support by several countries.

    EU sources said the Dutch presidency asked the European Commission to prepare a text to be presented at a fresh CORE-PER meeting next week, containing all the points supported during Wednesday's discussions, in order to attempt a solution.

    Cyprus on one hand and Great Britain and the Commission on the other disagree on the proposed administrative authorities of the Turkish occupation ''authorities'', the deliberations between the Commission and the Cypriot government before the approval of each project, the protection of the property rights of the refugees, and the participation of community companies in the bids for the materialization of the program.

    The Dutch presidency aims at an agreement on the financing regulation by the end of September on condition that the Cypriot government will agree, as unanimity is necessary.

    [06] Planned changes to football club federation, HOC elections will go ahead, gov't stresses

    Athens, 9/9/2004 (ANA)

    The government is determined to go ahead with planned changes to the system for electing the managements of the Greek football club federation EPO and the Hellenic Olympic Committee, as set out in the amendments tabled in Parliament, government spokesman Evangelos Antonaros said on Wednesday.

    He was responding to questions which claimed that the International Olympic Committee and international soccer federations such as FIFA and UEFA objected to the changes.

    Antonaros said the amendments sought to scrap "tailor-made" laws that had converted the federations into exclusive clubs for the few and extend participatory democracy.

    He said he was unaware of any letter by IOC President Jacques Rogge on the issue but stressed that the Greek government respected and honored its obligations and operated according to the rule of law. He dismissed questions on whether sanctions might be imposed on Greece as a result of the changes as hypothetical.

    According to Deputy Sports Minister George Orfanos, mean-while, no document from the IOC outlining objections to the government's amendments had reached either himself, the government or Parliament.

    Speaking before the parliamentary assembly, Orfanos defended articles in the amendment that scrapped a rule requiring those seeking to be elected to the HOC to be members of a sports federation for at least three years.

    "I cannot accept that Parliament will agree to exclude Greek citizens from becoming members of the HOC when there is no restriction to their being elected president of the republic or prime minister," Orfanos stressed.

    He also noted that there was no reason for either the IOC or FIFA to deny someone the right to be elected.

    With regard to an amendment requiring regular judges to sit on sports arbitration courts, Orfanos said the substance of the change had been accepted by EPO, which could call a general meeting to approve it.

    Former deputy sports minister George Lianis had urged Orfanos not to risk intervention by FIFA and allow the Greek soccer federation to voluntarily make the change. According to Lianis, FIFA regarded football as self-regulating and believed it was allowed, in the same way as the IOC, to have its own rules that were either accepted or not.

    "If you accept them, you are part of the system. Otherwise, your're out," Lianis added.

    [07] UN High Commission for Refugees seeks better conditions for illegal immigrants on Samos

    Athens, 9/9/2004 (ANA)

    A representative of the UN High Commission for Refugees in Greece, Maria Stavropoulou, on Wednesday stressed the need for better reception facilities for illegal immigrants during a press briefing on the island of Samos, a key crossing point for immigrants seeking to enter Greece from the Turkish coast.

    "The people need to be able to breathe a little fresh air, women and children that are unaccompanied should be kept separately from the men," she stressed, underlining the shortcomings of the current reception centre for illegals on Samos. In response to reporters' questions, she confirmed that conditions at the centre were not the most suitable.

    Stavropoulos arrived on Samos on Tuesday and had meetings with local government officials and the local police chief on alternative housing for intercepted immigrants.

    [08] Justice minister begins tour of prisons with visit to Elaiona drug rehab centre

    Athens, 9/9/2004 (ANA)

    Justice Minister Anastasios Papaligouras on Wednesday began an extensive tour of Greek prisons with a visit to the drug rehabilitation centre for prisoners at Elaiona in Thiva. Papaligouras is carrying out the tour as a fact-finding mission in view of a planned major overhaul of the correctional system.

    During the visit, the minister was shown around the doctors surgeries, the vocational training areas and the prisoners' dwellings and held talks with doctors, nursing staff, prison staff and the prisoners themselves.

    In statements after the visit, Papaligouras underlined that the state saw drug users as victims and not as criminals and sought to cure them of their often fatal dependency. He stressed that the Elaiona centre was currently operating below par, with only 40 prisoners instead of the 300 that it had been designed to accept, even though prisons were teeming with inmates who used drugs.

    The minister said the justice ministry was now processing a series of measures to provide incentives that would make the drug rehab program more effective, which will soon be announced.

    [09] PASOK party leader George Papandreou holds talks with industries, civil servants union leaderships

    Athens, 9/9/2004 (ANA)

    Main opposition PASOK party leader George Papandreou held talks on Wednesday with the leaderships of the industries and civil servants unions in light of the opening of the Thessaloniki International Fair over the weekend.

    Federation of Greek Industries (SEB) President Odysseas Kyriakopoulos said after the meeting between Papandreou and the Federation's directorate "the country should not enter the logic of election talks which it must avoid at all cost."

    Kyriakopoulos also said "we did not focus our discussions on the social security issue, we only touched the edges of this issue, which is big and serious and will preoccupy our society in the future, but I do not think it is a top priority issue at present."

    Referring to the prospects of the economy, the SEB president said "they are good and we must all cooperate to enable the competitiveness of our country to be improved, by taking advantage of the positive image created after the very successful Olympic Games."

    Civil Servants Supreme Administrative Council (ADEDY) President Spyros Papaspyrou, speaking after talks held between the Council's directorate and Papandreou, said "the trade union movement and ADEDY will intervene institutionally so that both education and public administration in general will not become a field of confrontation between party apparatuses."

    Papaspyrou added that an extensive discussion was held on the issues of the economy, employment, unemployment, social security, education and health, as well as on special issues concerning developments in public administration.

    Papandreou also had a meeting with the directorate of the Panhellenic Confederation of Farmers Cooperatives (PASEGES), which placed emphasis on the major problem of strengthening the competitiveness of Greek agriculture.

    PASEGES President Karamichas referred at length to the need of shaping a multifunctional model of agriculture with the purpose of keeping the agricultural population in the countryside and to a regional policy giving priority to convergence and cohesion and to curbing inequalities.

    Lastly, Papandreou held talks with the directorate of the General Confederation of Workers of Greece (GSEE).

    GSEE President Christos Polyzogopoulos said afterwards he is categorically opposed to the holding of early elections due to the election of a new President of the Republic in spring.

    Referring to the content of the talks with Papandreou, he said GSEE "discussed the major problems preoccupying us."

    Papandreou accuses gov't of partisan politics in public administration: "The government's changes must stop being based on partisan politics in public administration," George Papandreou, President of the main opposition Panhellenic Socialist Movement (PASOK) party said on Wednesday following meetings with representatives of employers' and trade unions.

    Papandreou described the meetings as "very positive," and underlined that "we want to safeguard the development and all that the Greek people have earned, as well as the further increase of wealth along with a balanced division of it."

    Representatives of the Supreme Administration of Greek Civil Servants Trade Unions (ADEDY) condemned certain government policies in the public sector according to Papandreou, while representatives of other groups showed signs of insecurity and concern.

    "We, as a government, had taken necessary measures to ensure the impartial operation of public administration and we will defend these democratic institutions," PASOK's president said. He also accused the New Democracy (ND) government of ''failing to capitalize on the country's strong points, especially after the Olympic Games'', and also accused it of ''being ineffective in dealing with the escalating cost of living'' and managing funds from the Third Community Support Framework.

    In response to a question regarding the election of a new president of the Hellenic Republic Papandreou said, "I will not comment on something I've repeated numerous times."

    [10] Coalition leader criticizes gov't handling of violence after Albania-Greece soccer match

    Athens, 9/9/2004 (ANA)

    Coalition of the Left, Movements and Ecology leader Nikos Constantopoulos on Wednesday said the government bore grave responsibility for its positions and the way it had handled the recent violent incidents and the attacks against Albanian immigrants in Athens after the Greek national football team was defeated by Albania during a preliminary match for the World Cup.

    Constantopoulos said the government was maintaining a neutral, even comatose stance and acting like Pontius Pilate with respect to a problem that concerned democracy and Greek culture, while stressing that the events were more than ordinary football violence and had strong racist overtones that underscored a problem of present-day Greek society.

    Other members of the Coalition party called for legislation to make racism a criminal offence, similar to laws that exist in several European countries.

    [11] Spyros Kapralos new Athens Stock Exchange president

    Athens, 9/9/2004 (ANA)

    The board of the Greek Stock Exchanges S.A. company (EXAE) on Wednesday chose Spyros Kapralos as president of the executive administration of all of the group's companies.

    Kapralos will be president of the Athens Stock Exchange and managing director of EXAE. He will be assuming his duties after the Paralympic Games.

    The new Stock Exchange president had been a special adviser for the Athens 2004 Olympic Games Organizing Committee, but had left the post shortly after the general election on March 7 and became Olympic Games secretary general at the culture ministry. He was also "city manager" for the city of Athens.

    The stock market president is selected by the EXAE general assembly, not the government, alternate gov't spokesman says: The individual who will undertake the post of president of the Athens Stock Exchange was not a matter of proposal by the government, but the selection is made by the shareholders and General Assembly of the Hellenic Stock Market S.A. (EXAE) in accordance with the existing legal procedures, alternate government spokesman Evangelos Antonaros said Wednesday during a regular press briefing.

    He was replying to reporters' questions on rumors that Spyros Kapralos, general secretary for the Olympic Games and Paralympic Games, would undertake the post of president of the stock exchange.

    Referring to Kapralos' meeting with prime minister Costas Karamanlis earlier in the day, Antonaros said that Kapralos briefed the premier in his capacity as Olympic and Paralympic Games secretary general, as the government and prime minister were interested in the impeccable staging of the Paralympics later this month.

    [12] Percentage of foreign investors in Greek stock market increases in August

    Athens, 9/9/2004 (ANA)

    The percentage of foreign investors' participation in the Greek stock market increased in August, following the decrease observed in July, according to data publicized on Wednesday. On the other hand, Greek investors saw a decrease in their participation.

    The participation of foreigners in the total number of listed shares in August this year amounted to 34.04 percent compared to 33.321 in July and 34.404 in June.

    Greeks, however, had a decrease in their participation percentage from 66.67 percent to 65.95 percent.

    Foreign investors kept their positions in the FTSE ASE 20 index in August as their participation amounted to 39.93 percent as against 39.58 in July and 42.1 in June.

    Greek investors lowered their participation in the high capitalization index from 60.41 percent in July to 60.07 in August.

    [13] Finance minister says economic policy will target growth and employment

    Athens, 9/9/2004 (ANA)

    Finance and Economy Minister George Alogoskoufis discussed economic policy to be implemented by the government in 2005 with the ruling New Democracy party's Central Committee Secretary Vangelis Meimarakis.

    Speaking after the meeting, Alogoskoufis said economic policy "will have growth and employment as its first target and will take place in a framework of social cohesion."

    Referring to the fiscal situation and the need to curb budget deficits, the minister said "all adjustments which must be done in public finances will be done in the best possible way, but what comes first is our utilizing the great success we had with the Olympic Games, an achievement which proved what Greece can do. Just as we succeeded with the Olympic Games, we shall also succeed with the economy for the benefit of all Greeks."

    Meimarakis said on his part he had a "fruitful discussion with the finance and economy minister, my friend George Alogoskoufis. I was briefed on the government's economic policy which is being exercised in accordance with the program which has been voted on and approved recently by the Greek people and with the social sensitivity which the New Democracy government has."

    [14] Greek energy market growing slowly, report says

    Athens, 9/9/2004 (ANA)

    The Greek energy market is showing signs of growth but it is still in a transition course, a survey by Kantor Capital said on Wednesday.

    The report said that the Greek electricity market has not been fully opened yet and noted that prices were effectively pushed higher. Natural gas penetration is lower, compared with initial forecasts, due to delays in private investments in electricity production, while in the oil product market demand is expected to slow because of increased presence by natural gas supplies in the country, the report stressed.

    For the electricity market, Kantor Capital said that increased cross-border electricity energy trade could help in harmonizing prices in the European Union and lower costs, while electricity demand in Greece would continue rising, a development combined with delays in private electricity production that could result to an energy deficit after 2007 and higher domestic prices. Demand growth rates remained high (average annual growth rate of 4.4 percent in the last 10 years), more than double the EU average growth rate (2.1 percent), the report stressed.

    The report noted that delays in private electricity production were attributed to low consumer prices. Kantor Capital expects a maximum of two new producers to enter the country's electricity grid by the end of 2007 with Public Power Corporation remaining the dominant player in the market.

    In the natural gas market, demand -worldwide- is forecast at 2.2 percent by 2025 (exceeding growth rates for oil and coal 1.9 pct and 1.6 pct, respectively), a trend needing investments of around three trillion dollars in the next 30 years, the report said. Kantor said that the Greek natural gas market was growing slowly but the market still had positive growth prospects for the future.

    World oil demand was 2.1 percent higher from the average annual growth rates in recent years in 2003, with total production up 3.8 percent over the same period, the report said. Average prices last year were the highest in the last 20 years. For the domestic market, the report forecast a slowing growth rate in the oil product market and stressed that a merger between Hellenic Petroleum and Petrola would lead other companies in the sector to re-adjust their strategies.

    [15] Gov't announces plan to expand bio-farming

    Athens, 9/9/2004 (ANA)

    Greece's Agricultural Development and Foods Ministry on Wednesday announced that participation in a bio-farming program would end on September 14 and urged all interested parties to submit applications by that date.

    Under the program, the ministry aims to include 500,000 stremmata (one stremma=1,000 square meters) in a bio-farming program budgeted at 107 million euros. Minimum farming areas for long-term cultivations was set at three stremmata and 0.5 stremmata for annual cultivations.

    The program also envisages financial support up to 90 euros per stremma, depending on the variety of the product, to farmers.

    Agricultural Development Deputy Minister A. Kontos, speaking to reporters, said that the ministry's strategic target was to establish the necessary conditions allowing for the expansion of bio-farming in the country and the production of certified quality products, through environment-friendly methods, that would satisfy consumers' demands and ensure farmers' incomes.

    [16] Gov't in talks to restrain price hikes for staple foodstuffs

    Athens, 9/9/2004 (ANA)

    The government on Wednesday began negotiations with representatives of the flour mill industry, farmers and shop-keepers in a bid to restrain threatened price hikes as high as 20 per cent for staple foodstuffs, such as flour, bread, pasta, baked goods, animal feed, meat and poultry.

    Deputy Development Minister Yiannis Papathanasiou and Deputy Agricultural Development Minister Alexandros Kontos sought to find a mutually acceptable agreement to avoid the envisioned price increases, caused by the import of cereals from third countries due to problems faced by domestic production. This was not achieved during Wednesday's meeting and talks with continue on Thursday at the agriculture ministry.

    According to Papathanasiou, the government is seeking a solution that will allow domestic production to be absorbed at satisfactory prices for farmers without passing the cost on to consumers.

    Kontos explained that 2004 had been a difficult year for farmers, who had produced bumper crops whose quality had been undermined by poor weather conditions, and urged all sides to show understanding so as not to burden consumers.

    He said a ministry decree regarding imports did not make the controls stricter but simply more thorough, while estimated that the greatest problem would be for animal feed, which might also push up prices for meat products.

    According to flour mill owners, however, unless competition was allowed to operate freely and imports of hard and soft cereals from cheaper non-EU countries were allowed, particularly the United States and Canada, then prices will soar.

    A representative of the bakers union, on the other hand, said bakeries and bread shops would once again absorb price hikes on the part of the flour producers and keep bread prices stable.

    [17] Greek state bond market reports record turnover in August

    Athens, 9/9/2004 (ANA)

    Turnover in the Greek Electronic Secondary Securities Market rose to new record highs in August, totalling 96.98 billion euros from 63.25 billion euros in July, an increase of 79 percent compared with the same month last year, the Bank of Greece said on Wednesday.

    The central bank, in its monthly report on the market, said that investors' interest remained focused - as in July- to medium- and long-term bonds (seven to 10 year bonds), which accounted for 63 percent of total turnover in August.

    The 10-year benchmark bond again led the market, with turnover of 41.43 billion euros, followed by the older 10-year benchmark bond with 7.81 billion euros. The report said that buying orders accounted for 52.05 percent of the total 16,785 orders in August, with the remaining 47.95 percent selling orders.

    State bond prices continued moving higher for the second consecutive month, following a similar trend in the main international markets. Greek benchmark bond prices rose between 54 and 197 basis points, with the 20-year bond recording the biggest monthly gains to 113.85 (yielding 4.74 percent) in August 31 from 111.88 bps (4.90 percent) at the end of July.

    The 10-year benchmark bond saw its price rise by 140 bps to 101.90 in August (yielding 4.25 percent) from 100.50 (4.43 percent) last month. The average yield spread between the 10-year Greek and German bonds remained steady at 18 bps for the third consecutive month.

    The yield curve steepened in August, with short-term bond yields falling by 21 bps in August, while long-term bonds' yields rising by 15 basis points over the same period. The yield spread between the three and 20-year bonds rose to 187 bps in August from 182 bps in July.

    [18] Athens bourse close: Stocks dive as foreign markets falter

    Athens, 9/9/2004 (ANA)

    Stocks came under strong pressure on Wednesday, as nervous investors rattled by faltering markets abroad proceeded to make mass sell-offs on the Athens bourse, traders said.

    The Athens general share index closed at 2,308.47 points, showing a decline of 1.15 percent. Turnover was 134.8 million euros.

    The FTSE/ASE-20 index for high capitalization shares ended 1.27 percent down; the FTSE/ASE-40 for medium cap stocks closed 0.96 percent down; and the FTSE/ASE-80 for small cap shares finished 0.83 percent down.

    Of stocks traded, declines led advances at 200 to 62 with 79 remaining unchanged.

    [19] Paralympic Flame to be lit Thursday

    Athens, 9/9/2004 (ANA)

    The lighting ceremony of the Paralympic Flame will be held on Thursday in the heart of Athens, in Thession, below the Acropolis, starting the 9th torch relay in Paralympic history.

    The Athens Paralympic Games will give spectators the opportunity to witness athletes' pursuit of distinction and recognition. Additionally, the Paralympics will leave behind a valuable legacy - a more friendly and accessible city for people with disabilities.

    A total of 680 torchbearers will carry the Paralympic Flame through 54 municipalities of Attiki, covering a total distance of 410 km. Olympic and Paralympic medalists, world championships and other celebrities will be among those carrying the Flame.

    On Thursday night, the Paralympic Flame will remain lit at the Herod Atticus Theatre.

    [20] Cypriot government says ''cabinet'' decisions illegal

    NICOSIA 9/9/2004 (CNA/ANA)

    Deputy Government Spokesman Marios Karoyan said on Wednesday that the Cypriot government considers illegal any decisions by the so-called cabinet in the Turkish occupied areas of the Republic.

    Speaking after Wednesday's Council of Ministers meeting and commenting on amendments to the ''legislation regarding the selling of property to foreigners'', adopted by the so-called cabinet in the occupied areas, Karoyan said ''we must not forget that the decisions of the pseudo-cabinet are illegal decisions.''

    ''There is international law, the acquis communautaire, numerous treaties regarding the specific issue and thus the Cypriot government considers any decisions by the pseudo-cabinet illegal,'' he noted.

    Karoyan also described as illegal a decision by the ''cabinet'' to consider the Republic of Cyprus a ''third country'' as far as Turkish Cypriots studying in Nicosia schools are concerned.

    He added that the government was continuing efforts to restore international law and noted that the ''cabinet'' had taken many decisions that hinder and restrict the Turkish Cypriots from pursuing education and participating in various trade and financial programs.

    ''We want to promote trade, we want to create healthy relations between the Greek Cypriots and the Turkish Cypriots, which explains the measures the Cypriot government has announced, its initiatives, and of course the EU is aware of all this,'' Karoyan said.

    Referring to the COREPER meeting, Karoyan said there does not seem to be any development regarding the ''direct trade'' between the two communities in Cyprus, noting that discussions will continue Thursday.

    ''The government believes there has been progress regarding important aspects of the Regulation (for the Green Line) and the financing of the Turkish Cypriot community,'' he concluded.


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