Athens News Agency: Daily News Bulletin in English, 06-10-11

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

CONTENTS

[01] Almunia predicts Greek fiscal deficit at under 3 pct points for 2006, 2007

[02] GDP revision a necessary move, FinMin says

[03] Inner Cabinet focuses on flooding; Minister on legalization process

[04] High-school student protests 'incited by others', gov't suggests; unions join striking teachers

[05] Major unions to join teacher rally on Wednesday; public transport disrupted

[06] Coalition (SYN) party leader urges PM to meet striking teachers

[07] PM discusses port development with merchant marine minister

[08] Papandreou slams government over flooding, corruption

[09] PASOK party leader visits Aspropirgos and Elefsina

[10] KKE's Papariga speaks on education, local government elections

[11] Athens mayoral candidate Alexis Tsipras holds main election rally

[12] PASOK party leader condemns North Korea's nuclear test

[13] Transport Minister Liapis meets German deputies

[14] FM Bakoyannis receives U.S. envoy

[15] Journalists' Union issues condolences for trio of reporters killed in last few days

[16] Economic developments positive, Bank of Greece governor says

[17] Cenbank: Pensions need overhaul

[18] Greek, Chinese finance ministries in talks

[19] Gov't sets priority on tourism

[20] Employment minister meets with IMF team

[21] FM to be official speaker at Hellenic British Chamber of Commerce luncheon

[22] Athens International Airport aims to boost air cargo transport

[23] Greek exports up 9.4 pct in August, yr/yr

[24] Greek industrial production index up 2.3 pct in August, yr/yr

[25] Athens Bourse Close: Stocks rise

[26] Heavy rainfall and flooding continue in large parts of Greece

[27] Conditions becoming normalized in flood-hit northern Greece

[28] Public order minister presents police staff's new training program

[29] Human error to blame for Helios air crash, Greek investigation finds

[30] Papoulias meets with WWII veterans

[31] Court rejects release appeal by 'N17' terrorist Xiros

[32] New offices of 'Ecumenical Hellenism' inaugurated

[33] Diplomatic car torched

[34] Greece offers Bulgaria gift of Olympic torch

[35] President Papadopoulos says Finnish proposal not final

[36] Irish President calls on Turkey to normalize relations with Cyprus

[01] Almunia predicts Greek fiscal deficit at under 3 pct points for 2006, 2007

BRUSSELS, 11/10/2006 (ANA-MPA)

During the joint press conference with Eurogroup chairman and Luxembourg prime minister Jean-Claude Juncker, Almunia said that, with respect to 2006, the Greek deficit would be contained below 3 percentage points, but opined that this was due, to a degree, to measures of a temporary nature that have been taken by the Greek government for the current year. With respect to 2007, Almunia said that, based on the data contained in the preliminary draft of Greece's state budget for next year, the reduction of the fiscal deficit would be achieved without resorting to measures of a temporary nature. This was the first comment from the Commission since it was forwarded the 2007 draft budget, which was tabled in the Greek parliament early last week.

Regarding the updating of the Greek data concerning the country's Gross National Product (GNP), both Almunia and Juncker clarified that the EU predictions of reduction of Greece's deficit were founded on the original figures and did not take into consideration the revised assessments of the National Statistics Service of Greece (ESYE) of a 25 percentage point increase in the country's GNP.

Regarding the validation of the new Greek figures by Eurostate, the two EU officials explained that, considering the large extent of the adjustment, the EU services would review the figures in detail, adding this would naturally take some time.

Until the corroboration of the revised figures was completed by Eurostat, the EU services would continue using the current figures in their calculations.

[02] GDP revision a necessary move, FinMin says

BRUSSELS, 11/10/2006 (ANA-MPA)

Addressing an ECOFIN meeting in Luxembourg, the Greek minister said the Greek real economy has grown with very satisfactory rates, the fiscal deficit was shrinking and in general the economic course was compatible with a Growth and Stability Pact.

Referring to a government decision to revise upwards the country's Gross Domestic Product figures since 2000, Alogoskoufis said the extent of the revision was very significant since Greece delayed for many years to update its data and stressed the community services were asking for the updating of GDP data since 2004. He noted that due to technical inabilities, both in Athens and in Brussels, updating the data was not possible in an earlier date.

The structure of the Greek economy has changed significantly in the last few years, focusing more on services, Alogoskoufis said, adding he had full confidence in analysis published by the National Statistics Service. He stressed, however, that verification of the data was now in the hands of Eurostat and noted that until then the European Commission would use non revised figures while Greece could use its national statistical data.

The minister was adamant that a revision of GDP figures was not decided to end EU procedures against Greece over its excessive fiscal deficit, but it was necessary. "It is the last phase of an effort to fully print the country's economic conditions," Alogoskoufis said and noted that transparency in national accounting figures was a necessary precondition to draft the right economic policies.

He said the country's fiscal deficit would fall below 3.0 pct both this year and in 2007, regardless of the statistical data used, while he stressed that the country's fiscal problem would not be resolved by reducing the deficit below 3.0 percent of GDP but a significant effort of fiscal adjustment was needed in order to present balanced or surplus budgets after 2010.

PASOK, Coalition parties criticize economic policy: Main opposition PASOK party economic sector chief Vasso Papandreou, speaking at a press conference on Tuesday, criticized the government's economic policy.

"Greece of the EMU and the Olympic Games has become ridiculed internationally with its craftiness and its initiatives on the evaluation of the economy and the fictitious revision of GDP, to emerge from the supervision for which it is responsible itself," she said.

Papandreou added that the task of restoring the country's credibility in the European Union and the relevant EU bodies by PASOK, when it comes to power, will be difficult.

Coalition of the Left, Movements and Ecology (Synaspismos) party Political Bureau member Panayiotis Lafazanis said on his part that "the governor of the Bank of Greece Mr. Nikos Garganas, with the interim Monetary Policy Report for 2006, appeared once again as a pure producer of an account for an extreme neo-liberal and anti-social policy. The so-called government reforms and structural changes whose continuation he called for, as he has been doing for years, are exclusively responsible for the economic problems of the country and, primarily, for the major social deadlocks mainly faced by the financially weaker classes."

Finance ministry responds to PASOK comments: The Economy and Finance Ministry in an announcement on Tuesday night replied to statements made by cadres of the main opposition Panhellenic Socialist Movement (PASOK) regarding the Gross Domestic Product (GDP).

"The known danger-mongering and pseudo-prophets of the main opposition party yet again attempt to turn white into black and with inaccuracies deceive the public," the announcement said.

"Their predictions always fall through and non-credibility henceforth constitutes their basic characteristic. The problems which the economy confronts today are a result of their actions and omissions for more than twenty years. They should apologize to the Greek people instead of pretending to be critics," the finance ministry announcement added.

"The government with its consistent policy of calm adjustment and reforms, contains, for the first time since the country's accession to the European Monetary Union (EMU), the deficit below three per cent of the Gross Domestic Product and leaves the bad past behind to those who created it," the announcement concluded.

[03] Inner Cabinet focuses on flooding; Minister on legalization process

ATHENS, 11/10/2006 (ANA/MPA)

Afterwards, Minister Prokopis Pavlopoulos announced that urgent financial assistance totaling 700,000 euros has been sent to the prefectures of Thessaloniki, Magnesia and Halkidiki, following three days of severe rainstorms in the areas and subsequent flooding. Emergency funds to another 12 municipalities in northern Greece have also approved, he said.

Meanwhile, in response to a barrage of opposition and press criticism this week following the flood damage in northern Greece - less than a week before local government elections - Public Works and Town Planning Minister George Souflias, himself a civil engineer, said the mountainous characteristics of the country necessitate "major anti-flooding projects, ones that cannot, however, be constructed overnight or even in two years, they need decades".

Legalization of migrants: �n an unrelated development, Pavlopoulos noted that provisions allowing for the legalization of illegal immigrants in the country are being implemented, reminding that non-EU nationals who can prove, with documentation, they were in Greece before Dec. 31, 2004 are eligible for legalization.

[04] High-school student protests 'incited by others', gov't suggests; unions join striking teachers

ATHENS, 11/10/2006 (ANA/MPA)

Among them, they want the government to revoke the minimum pass of 10 for university entrance, which last year barred thousands of school-leavers from occupying available places in university and technological institutes that were left empty.

The takeovers are just the latest twist in a saga of upheaval within Greece's education system since the academic year began in September. Primary teachers are now on strike for the fourth straight week seeking substantial pay rises and payment of benefits, while protest rallies, marches and scuffles between teachers and police are an almost daily occurrence.

Reading out a text distributed by an organization representing the student protestors, Roussopoulos stressed a reference to the school takeovers of 1998, particularly a phrase that "our struggles in previous years made their plans more difficult. In '98 we delayed them," and pointed out that even final year students now would have still been in primary school in 1998.

"Can there be any doubt that there is someone behind this text," he stressed.

Roussopoulos noted that the main demand raised by teachers in the past three weeks of strikes was that the base pay of newly-appointed teachers increases to €1,400 from €950 and he suggested that this was not a demand likely to inspire solidarity in students, while he questioned why the takeovers were necessary:

"If someone can convince with their arguments and is in the majority, what is the need for takeovers? Why, therefore, do they need to take over classrooms?" he asked.

The spokesman also asked who was defending the constitutional rights of the students that wanted to attend classes and found themselves barred at the door.

[05] Major unions to join teacher rally on Wednesday; public transport disrupted

ATHENS, 11/10/2006 (ANA/MPA)

ADEDY has also called a nationwide 24-hour strike in the public sector on Wednesday, while GSEE will hold a work stoppage from 11:00 until 15:00 in Attica and Thessaloniki so that its members can attend the rally.

The Athens metro and Proastiako suburban railway will not run during the GSEE work stoppage, while the overground electric railway ISAP will stop running between 13:00-15:00 and buses will run normally.

There will also be a 24-hour strike by university teachers and education ministry staff.

Meanwhile, primary teacher unions are gravitating toward yet another extension of their nearly month-long strike, this time by three days on October 17, 18, and 19, to be decided in a meeting by union presidents on Thursday.

The same days will also be proposed by the high-school teachers' union federation OLME, while another all-teacher-student rally is planned for next week.

Apart from the base pay increase, which teachers' say is a demand shared with all public-sector staff, another bone of contention with the government is a €105 benefit that was promised to them and not paid. The government has so far offered to give the benefit incrementally, in six-month installments spread over three years that would cut the amount teachers' want by about two thirds. Teachers are adamant that they will not back down, while the government is equally adamant that it will not give in, stressing that it doesn't have the funds to meet the 47% pay rise teachers are demanding.

[06] Coalition (SYN) party leader urges PM to meet striking teachers

ATHENS, 11/10/2006 (ANA/MPA)

He also expressed his party's support for the school takeovers by students, demanding the abolition of the minimum pass of 10 for university entrance exams and for the government to fulfill a pledge to increase spending on education up to 5% of GDP.

[07] PM discusses port development with merchant marine minister

ATHENS, 11/10/2006 (ANA/MPA)

After the meeting, Kefaloyannis told reporters that the government would soon announce specific measures for the development of Greek ports, which, he stressed, was a priority policy of his ministry.

Kefaloyannis further noted that the 3 billion euros financing protocol signed with the European Investment Bank had opened up immense prospects for the development of Greece's ports, adding that his discussion with Karamanlis also encompassed the development of the ports of Thessaloniki, Piraeus, Corfu and Patras, as well as a new port on the island of Crete. The development projects aim at increasing the container capacity of the ports and the construction of new marinas.

[08] Papandreou slams government over flooding, corruption

ATHENS, 11/10/2006 (ANA/MPA)

“Bridges collapse and government ministers blame each other”, stressed Papandreou, adding that, at the same time, new revelations were coming to light about corruption within ruling New Democracy, while it’s exposed party officials shamelessly asked for the vote of the Greek people.

On the teachers’ mobilizations, Papandreou stressed that the sector of Education revolts against mockery, authoritarianism, and irresponsible government experimentation, while trade unionists come face to face with the right-wing ‘shadow’ state.

Papandreou stated that Greece is an ungoverned country where government officials toy with the GDP and the economy dragging the country in the mud. The European Union calls us unreliable when the prime minister maintains that everything is perfect, said Papandreou concluding that PASOK will not allow this to go on any longer.

Meanwhile, a PASOK delegation made up of former ministers Evangelos Venizalos, Michalis Chrisochoidis and Yiannis Tsaklidis headed by the party’s National Council secretary Mariliza Xenoyannakopoulou visited the flood-stricken regions in Thessaloniki to be briefed on the extent of the damages.

Xenoyannakopoulou stated that PASOK expresses solidarity to the flood victims and will watch closely the materialization of the relief measures announced by the prime minister who visited the region of Stavros on Monday.

Roussopoulos on PASOK accusations, Papandreou's statements: Government spokesman Theodoros Roussopoulos on Tuesday replied to accusations made by main opposition PASOK concerning some 79,400 new staff in the public sector alleged hired by New Democracy in a 29-month period, noting that the Interior Minister has responded repeatedly on the issue.

He also pointed out that, according to the figures presented by PASOK, he was personally credited with hiring exactly 7,461 staff for his own ministry: “Is it possible to have 7,461 employees working in the building we are in? Do I need to say more”, he commented.

PASOK pretends that it does not know or cannot remember that there are employees with renewable work contracts, said Rousopoulos, adding that as a minister he received a number of them and used as an example the renewal of a total of 2,179 work contracts in the state-run ERT radio and television.

Regarding the statements on the government and the prime minister made by the President of PASOK on Tuesday, the government spokesman stated that Papandreou’s response on major national issues is expected since Monday, adding that the PASOK president’s habit to raise tensions has become very familiar practice which, however, does no benefit the country or him.

[09] PASOK party leader visits Aspropirgos and Elefsina

ATHENS, 11/10/2006 (ANA/MPA)

Speaking in a district mainly inhabited by people of Black Sea origin, Papandreou said that his party "honors Black Sea Hellenism with deeds and not words and never thought of doubting the Greek nature of Black Sea Greeks, as the New Democracy party did because some votes did not go to it."

Papandreou, who expressed confidence that PASOK will come to power in the next national elections, said that a special committee has already been created in his party to handle issues concerning Black Sea Greeks returning home.

Earlier, the PASOK leader visited nearby Elefsina and the election centres of mayoral candidate George Ambatzoglou and of prefectural candidate of Western Attica Aristidis Arkoudaris, while in Aspropirgos he visited the election centre of mayoral candidate Thanassis Serepas.

[10] KKE's Papariga speaks on education, local government elections

ATHENS, 11/10/2006 (ANA/MPA)

"What is needed today is a more brave and dynamic struggle for education, in comparison with the great struggles of 1998-1999," Papariga said.

The KKE Secretary-General said that the struggles are necessary "for free schooling for all, without private tuition centers, and well rewarded teachers."

Referring to the local government elections, Paprika stated: "One of the most fundamental messages of the ballot-box should be that the working people are punishing those who for years now to the present, say that the economy cannot withstand, in order for there to be free Education, free Health and free Welfare. Those people must be harshly punished."

She was directing her fire against the New Democracy (ND) government and the main opposition Panhellenic Socialist Movement (PASOK).

[11] Athens mayoral candidate Alexis Tsipras holds main election rally

ATHENS, 11/10/2006 (ANA/MPA)

Tsipras said that the expectation of his "Open City" ticket for the municipality is "an alliance between the municipal authority and citizens that will upset the plans of neo-liberalism and clash with apathy and social conservatism."

He predicted that regardless of who will win the municipality of Athens "we shall be the real opposition, an opposition that will be lively and energetic, that will be built collectively worth principles, firm positions and arguments through close contact with people in neighborhoods."

Tsipras accused the mayoral candidates of the ruling New Democracy and main opposition PASOK parties, Nikitas Kaklamanis and Costas Skandalidis respectively, of "not having substantive differences in their programs", adding that "both of them are fishing in the apolitical mass of the centre."

He also criticized Kaklamanis and Skandalidis for "substantive consent for the restriction of demonstrations" and stressed that "demonstrations are an inalienable constitutional right for all and cannot be abolished by the so-called majorities."

Lastly, Tsipras said that "in this environment that, with the assistance of television frivolity, is still being maintained more insipid and more boring, we are making our own struggle against neo-liberalism and the commercialization of the municipality, against social conservatism and against political apathy that promotes mayors with 'fame story' terms when the city is in need of a plan, the struggle of social solidarity, the struggle to defend the history and the spirit of this city, as well as the struggle of social policy, there where they only plan inaugurations and humanitarian galas for the television cameras."

[12] PASOK party leader condemns North Korea's nuclear test

ATHENS, 11/10/2006 (ANA/MPA)

"The nuclear test by North Korea is a condemnable act because it undermines international security and stability," he said in a statement.

"The Socialist International and I personally remain firm against the proliferation of nuclear weapons and bent on respect for the Non-Proliferation of Nuclear Weapons Treaty. We express our strong concern for peace and stability in Eastern Asia. Acts such as the nuclear test carried out by North Korea undermine the climate of stability in the region, create fear and insecurity and strengthen the risk of instability. We ardently support the efforts of the international community for the resumption of talks and we stress the need for the government of North Korea to return to the negotiating table immediately under the auspices of the United Nations Organization," he added.

[13] Transport Minister Liapis meets German deputies

ATHENS, 11/10/2006 (ANA/MPA)

Liapis briefed the German deputies on the management of airline traffic and on infrastructure works in railway and road networks.

At the same time, he referred to the measures which his ministry is taking to facilitate people with special needs.

The transport minister noted that there is close cooperation with the European Union, both during planning and in the implementation of transport policy in Greece.

[14] FM Bakoyannis receives U.S. envoy

ATHENS, 11/10/2006 (ANA/MPA)

Talks focused on issues currently under discussion at the UN Security Council, particularly on the aftermath of North Korea's nuclear test, and developments in the Middle East and the wider region.

[15] Journalists' Union issues condolences for trio of reporters killed in last few days

ATHENS, 11/10/2006 (ANA/MPA)

[16] Economic developments positive, Bank of Greece governor says

ATHENS, 11/10/2006 (ANA/MPA)

Presenting the central bank's intermediate report on the Greek economy to Parliament President Anna Psarouda-Benaki, Garganas said: "Economic developments are positive, there is a remarkable growth rate of 3.8 pct of GDP which means that the living standard continues to increase, while inflation is contained around last year's levels despite an increase in the oil price". The central banker added that "inflation continues to be higher than the Eurozone average, burdening citizens and negatively affecting the competitiveness of exporting companies".

Garganas said the report underlined challenges facing the Greek economy because of chronic weakness in the economy. "This year, we are particularly worried over a large increase in the current accounts deficit, reflecting largely higher oil prices. Despite a significant reduction of the fiscal deficit, efforts must continue because the country has a very high public debt and because of an ageing population the fiscal cost will be very significant in the future."

The central banker said unemployment remained at very high levels, despite a decline in recent years, adding that economic growth was not equally distributed among the population in the last 10-15 years, with the result that 20 percent of Greeks reported as poor according to Eurostat figures, with their incomes at least 60 percent lower compared with the average national income.

"To deal with challenges facing the Greek economy, more efforts are needed to continue reforms and structural changes," Garganas said.

Parliament President Anna Psarouda-Benaki said "despite problems, we are on the right track and if reforms continued we will have good prospects for the future".

Bank of Greece presents interim economic report: The international economic environment remains favorable in 2006 with global GDP growth around 5.0 percent for the third consecutive year and with economic growth achieving a wider geographical base, while Eurozone economic growth accelerates, the Bank of Greece said in its intermediate report. The report, however, stressed there were risks ahead for the global economy related with the impact of long-term high oil prices and the adjustment of global and domestic economic imbalances in an environment were monetary policy is tightening. The report also stressed the geopolitical risks around the globe.

Economic recovery in the Eurozone is more strongly based, while the European Central Bank has raised interest rates five times since December 2005, to a total 125 basis points to 3.25 percent and continues monitoring carefully economic and monetary developments to ensure price stability both in the medium- and long-term, the central bank's report noted. The report underlined that interest rates, despite their increases, remained at low levels with money circulation and credit growth continued at high rates and stressed that ECB's monetary policy remained accommodative. The European Central Bank would continue limiting the accommodative nature of its monetary policy according to economic and monetary developments and prospects in the euro zone, the Greek central bank's report said.

Greek economic growth this year (in fixed prices) is expected at around 3.8 pct, up from 3.7 pct in 2005, supported by strong growth in domestic demand and strong exports of goods. The central bank attributed an increasing private consumption to higher real available income by households, a rapidly growing consumer credit and an accumulated increase in households' assets in the last few years, along with higher employment.

Higher investments, after a small decline in 2005, reflected higher business investments and a recovery in investments on houses and of a public investments program. The average annual inflation, based on the harmonized consumer price index, is expected to reach 3.3 pct this year, unchanged from 2005, the report said. The core inflation (excluding energy and non-processed food) is expected to fall to 2.8 pct this year from 3.2 pct in 2005. Greek inflation remained significantly higher compared with the Eurozone's average rate, further reducing the economy's international price competitiveness.

The country's current accounts deficit is projected to reach 11 percent of GDP this year reflecting higher oil prices and higher interest payments. The central bank noted that the annual growth rate of total economic funding from domestic financial institutions was 19.6 pct in August, up from a 14 pct growth rate in the fourth quarter of 2005, reflecting higher government funding. Borrowing by enterprises also grew faster (15.9 pct in August from 12.7 pct in the fourth quarter 2005. Borrowing by households slowed in the January-August period (29.1 pct) from 30.6 pct in the fourth quarter 2005.

The Bank of Greece underlined the big gap currently prevailing between the average weighed interest rates on new bank loans and bank saving deposit rates. The central bank said the gap was much larger than Eurozone average although it noted that progress has been made since December 1998, with the spread reduced by 344 basis points in the eight-year period. The bank attributed this gap to differences in the composition of deposits and loans in Greece compared with the Eurozone, differences in a regulatory framework, higher operating costs, less competition in the Greek banking market, and higher cost of bank borrowing in the interbank market. Reducing this gap is a long-term procedure, the report said.

The central bank said the Greek banking system was stable with Greek banks' exposure to credit and market risks remaining at relatively low levels, despite a slight increase this year.

The Bank of Greece said the country's living standard continued to lag behind the EU-15 average despite a steady growth of the Gross Domestic Production the last 13 years, while poverty and inequality indexes exceeded average EU rates, evidence that economic growth was not adequately distributed among the population.

The report said the Greek economy continued to face serious challenges due to its structural weaknesses, reflected in the inflation, a high current accounts deficit, high public debt and a high unemployment rate.

Private consumption was the main driving force behind the country's GDP growth since 2001, with business investments lagging far behind. The central bank said higher consumption was negatively affecting inflation, economic competitiveness and the country's external debt, thus affecting medium- and long-term economic growth prospects.

Greek economy needs a transformation to ensure high growth rates in the future, based more on exports and business investments. Such a development will need constant fiscal adjustment and wage increases compatible with price stability policies to ensure long-term economic stability, along with structural reforms to improve productivity and flexibility of the economy.

The central bank said Greece achieved a significant reduction of its fiscal deficit in 2005 and 2006, but stressed that fiscal adjustment remained inadequate and urged for permanent measures towards fiscal restructuring leading to significant primary surpluses in future budgets.

The report urged for measures to boost national savings, mainly through reducing fiscal deficits. Economic transformation also needed structural reforms to attract foreign direct investments, creating large enterprises with exporting activities, to ensure the viability of the pension system, upgrading education and promoting research and technology, combating bureaucracy and modernizing civil administration. Combating corruption was also a necessary precondition, the report said.

[17] Cenbank: Pensions need overhaul

ATHENS, 11/10/2006 (ANA/MPA)

"The fiscal burden brought by the ageing population is reflected in allied public spending, which is expected to rise to 32.4% in 2050 from 18.9%, while the general government debt will soar to 450% of gross domestic product in 2050," Nikos Garganas told a news conference to present the central bank's 2006 monetary policy report.

"Interest payments by the public sector will reach 22.5% of GDP. As a result, if this scenario takes place, then there will be a massive downgrading of the country's creditworthiness," Garganas warned.

[18] Greek, Chinese finance ministries in talks

ATHENS, 11/10/2006 (ANA/MPA)

"Interest was great on the part of the Chinese on the process for drafting the budget employing new methods and control mechanisms, matters in which Greece possesses know-how that it can offer," the ministry said in a statement.

"Manners of cooperation in this sector were discussed with representatives of China's finance ministry, led by the deputy director general, Zhou Cheng Yue," the statement said.

Also discussed were management of the public debt and treasury, as well as strengthening investment between Greece and China.

"Special interest was shown by the representatives of major banking groups, including Wang Qiang, the deputy general manager of China Construction Bank, on cooperation with Greek banks and companies," the statement added.

[19] Gov't sets priority on tourism

ATHENS, 11/10/2006 (ANA/MPA)

"The New Democracy government has much to show in tourism, including a rise in arrivals above 7.0% in 2004-2005 and at least 10% in 2005-2006," the minister told a meeting on real estate on the sidelines of the Prodexpo trade fair.

The budget for operational programmes in tourism had risen by 22% as a result of three revisions, representing 720 million euros, she added.

[20] Employment minister meets with IMF team

ATHENS, 11/10/2006 (ANA/MPA)

The two sides discussed labor and social insurance issues.

The meeting was also attended by ministry general secretaries Dimitris Kontos and Dimosthenis Mammonas.

[21] FM to be official speaker at Hellenic British Chamber of Commerce luncheon

ATHENS, 11/10/2006 (ANA/MPA)

[22] Athens International Airport aims to boost air cargo transport

ATHENS, 11/10/2006 (ANA/MPA)

The two-day conference, held for the first time in Greece, brings together high-ranking officials from the international air cargo industry.

Addressing the conference, Alexis Sioris, the cargo development manager at the Athens International Airport, said Greece, with its many islands and countless holiday destinations, has become an attraction for passenger air traffic, but cargo transport has lagged behind so far. He urged for measures and procedures to boost cargo transport through the airport.

"The key word is transit transport," Sioris said, citing a SeaAir Cargo agreement recently signed between the airport and the Piraeus Port Authority to promote combined transport.

Athens' airport was awarded the first prize for the best cargo airport of 2006 based on its successful program over the last five years.

[23] Greek exports up 9.4 pct in August, yr/yr

ATHENS, 11/10/2006 (ANA/MPA)

The statistics service, in a report, said the value of import-arrivals totaled 3.8 billion euros in August, from 3.348 billion euros in the corresponding month in 2005, while the value of export-deliveries totaled 1.112 billion euros from 1.016 billion over the same period, respectively.

[24] Greek industrial production index up 2.3 pct in August, yr/yr

ATHENS, 11/10/2006 (ANA/MPA)

NSS, in its monthly report, said the average industrial production index rose 1.1 pct in the January-August period, compared with the same period in 2005.

The statistics service attributed the 2.3 pct increase in the composite index to a 2.8 percent decline in the mining production index, and 1.8 pct increase in the manufacturing index and a 5.6 pct rise in the electricity-natural gas-water production index.

[25] Athens Bourse Close: Stocks rise

ATHENS, 11/10/2006 (ANA/MPA)

The FTSE/ASE-20 index for high capitalization shares ended 0.72% up; the FTSE/ASE-40 for medium cap stocks 1.22% higher; and the FTSE/ASE-80 for small cap shares finished 0.56% up.

Of stocks traded, advances led declines at 175 to 76 with 60 remaining unchanged.

Bond Market Close: 10-yr benchmark at 4.08 pct