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Athens News Agency: Daily News Bulletin in English, 08-05-17

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

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

Saturday, 17 May 2008 Issue No: 2895

CONTENTS

  • [01] PM squares off against opposition leaders over OTE deal
  • [02] PASOK spokesman on OTE, money-laundering watchdog
  • [03] FM: Ankara should consider Ecumenical Patriarchate as beneficial for its EU course
  • [04] Ecumenical Patriarch meets President, PM
  • [05] Patriarch Bartholomew visits fire-stricken Parnitha
  • [06] Ecumenical Patriarch addresses event on the environment
  • [07] Interior minister chairs wildfire prevention meeting
  • [08] KKE accuses gov't of lack of planning for dealing with natural disasters
  • [09] DM tours new military hospital in Thessaloniki
  • [10] FM spokesman briefs Chinese journalists on foreign policy issues
  • [11] Athens mayor on official visit to Moscow next week
  • [12] Gov't seeks to boost business activity, raise R&D spending
  • [13] Voulgarakis addresses IMO con'f in London
  • [14] McCreevy calls for faster implementation of EU internal markets rules
  • [15] Bank of Greece fines commercial banks with 1,730,000 euros
  • [16] Schröder to speak at int'l energy con'f in Athens next week
  • [17] EBEA con'f on Egyptian economy
  • [18] Chinese business delegation to visit Athens
  • [19] ÅÉÂ funding of highway in the Peloponnese
  • [20] Greek stocks end 0.53 pct lower
  • [21] ADEX closing report
  • [22] Greek bond market closing report
  • [23] Foreign Exchange Rates - Saturday/Monday
  • [24] Greece holds event on climate change in the Mediterranean
  • [25] Culture minister visits Rhodes
  • [26] Queen Sofia of Spain tours Rhodes
  • [27] Cycladic Museum hosts exhibition on Russian Avant-Garde art
  • [28] ISTAME holds events marking 40th anniversary of student uprising in Paris
  • [29] Arson attack on a police station in Egaleo, Athens
  • [30] Traffickers arrested for transporting illegal immigrants
  • [31] Mostly fair on Saturday
  • [32] EP group cautiously optimistic about Cyprus Politics

  • [01] PM squares off against opposition leaders over OTE deal

    The deal between the Greek state and Deutsche Telekom (DT) for the management of Hellenic Telecommunications Organisation (OTE) prompted spirited exchanges in Parliament on Friday, during which Prime Minister Costas Karamanlis traded sharp words with main opposition PASOK leader George Papandreou but also Radical Left Coalition (SYRIZA) parliamentary head Alekos Alavanos, accusing them, respectively, of a "complete lack of arguments" and "absolute populism".

    "Our aim - and we have proved this - is to better serve the interests of the state, the economy and consumers - seriously and responsibly. Two concepts that are obviously unknown to you," Karamanlis said during his reply to questions tabled by Papandreou, during the "premier's hour" in Parliament, at the same time defending the deal struck by the government.

    "You know full well that there is nothing 'behind the scenes', no undisclosed deal. & You know that we were seeking an alliance with a large European organisation that would bring technical expertise and new services to the citizens, the consumers and investments," the premier underlined.

    He also accused PASOK of "lapsing into a state of total confusion" and claimed that the 66 percent of OTE shares sold by PASOK governments might have led to a loss of control over the phone utility. He also noted that PASOK governments had then spent three years looking for strategic investors.

    "Now that we have found a strategic investor, and one that is among the largest organisations in Europe, you are accusing us and talking in ways that restore the 'dark ages' of nationalisations. What really bothers you is that, while you tried to do exactly what we did now, you failed," Karamanlis added, accusing PASOK of being unable to deal with the major problems while in government and proving itself unable to present serious arguments and proposals as main opposition.

    "This inability cannot be concealed, neither by your hypocritical double-talk nor by the extreme expressions of your party officials," he concluded.

    Discussing the government's policy for OTE, the prime minister underlined that there were no plans to reduce the state's share in the phone utility yet further, after the 3 percent sold to DT in the latest deal. He also stressed that the agreement with DT secured the Greek phone company's alliance with a European telecoms giant, while it was subject to the approval of the Greek Parliament, the European Commission and regulatory authorities in both Greece and Germany.

    The premier then clarified that the deal gave the Greek State the last word on strategic issues, with enhanced powers of veto on key decisions concerning financial, business and corporate operations, as well as any issues pertaining to national security, national defence or law and order.

    Karamanlis was responding to a heavily sarcastic attack from main opposition PASOK leader George Papandreou, who accused the government of handing over control of OTE "for a song" and announced that PASOK would propose a fact-finding committee to investigate the government for breach of faith.

    Papandreou

    According to the main opposition leader, the 140 million euros for which the government had sold an additional 3 percent of OTE and its management to DT represented less than three months' profits for the telephony utility, which made profits of 660 million euros in 2007.

    Papandreou also rejected the government's claim that the deal would make OTE a more "serious player" within the European Union. "The Germans are becoming players, we are becoming a subsidiary," he stressed, dismissing the government's position as "a lie" and denying that it was continuing the policy of past PASOK governments.

    In a rejoinder to PASOK's leader, Karamanlis said that a dearth of positions and its rivalry with the smaller left-wing parties were leading PASOK to "inaccuracies and promises that would cost vast sums and were impossible to fulfil".

    Referring in particular to Papandreou's threat to exhaust every means to restore state control of OTE if PASOK returned to government, the premier suggested that this completely unrealistic.

    "It is your right to dream. But it is not your right to lie, consciously mislead and toy with the citizens," he added, at the same time underlining that the agreement with DT was beneficial to the OTE, Greek consumers and all Greek society.

    Reply to Alavanos

    Responding to SYRIZA's Alavanos, meanwhile, Karamanlis rejecting accusations that ruling New Democracy was "selling something that does not belong to it" and denounced him for resorting to "insults" and "demagoguery and absolute populism."

    "What most interests me, however, is that these things damage the country, damage the land. And, I will say this for the first time, I am afraid that this is being done consciously and deliberately," Karamanlis asserted in response to the criticism from Alavanos.

    "The public sector is the 'sick man' in our country. It is frequently over-abundant in places where it has no reason to exist at all and, in many cases, is absent in places where citizens need it," the premier added.

    He also angrily rejected suggestions that the agreement that would be presented to Parliament for ratification would be in any way different from the announcements that the government had made so far regarding the contents of the deal.

    Far from leading to deteriorating services and higher prices, the agreement with DT would have precisely the opposite effect, promoting healthy competition that would increase jobs, the quality of services and restrain prices, the prime minister claimed.

    He underlined that OTE's workforce had nothing to fear from the reforms now underway: "Our positions are clear-cut and our commitment is strong. We will not overlook their interests, on any account."

    At the same time, Karamanlis stressed that the government would not give in to "the blackmail of the few that harms the interests of the many. We will not stop the reforms that are absolutely essential for the country to go forward."

    "I have said many times - and I mean this fully - that it is the inalienable right of workers, of every citizen, to make demands, to strike, to mobilise. It is not, however, anyone's right to abuse their position as a monopoly. And this applies to all collective bodies; there cannot be groups that seek to impose their demands through extortion, striking indiscriminately at the interests of others. A question of social responsibility is raised for all. And, at the end of the day, there is also an issue of the democratic attitudes of those supporting such practices," he said.

    Alavanos

    In scathing remarks during the debate, Alavanos had suggested that since the government had so little faith in the country's ability to manage OTE as it should, rather than give it away, "instead appoint a German minister" and later perhaps a minister from Dubai to manage Greece's ports.

    "The sick man is not just the public sector but the ND government, which is unable to meet today's challenges," he added, while he linked DT with the Siemens bribery scandal and suggested that the government had no right to go ahead with DT until this affair was fully clarified.

    Alavanos also directly attacked Economy and Finance Minister George Alogoskoufis, suggesting that he "would be unable to hold down a job even as manager in a local supermarket" based on his performance regarding OTE, earning the minister's reply that he was "not a political party test-tube baby" like Alavanos himself but had a successful academic career in his own field, economics, before entering politics.

    [02] PASOK spokesman on OTE, money-laundering watchdog

    Aside from what he called "political responsibilities", a main opposition PASOK party spokesman on Friday also referred to "criminal violations" vis-à-vis this week's Hellenic Telecommunications Organisation (OTE) agreement with Deutsche Telekom.

    George Papaconstantinou accused Prime Minister Costas Karamanlis of "lying to Parliament and not giving a response to a question posed by PASOK leader George Papandreou".

    The PASOK spokesman also referred to comments made Thursday by head of Greece's money-laundering watchdog, Georgios Zorbas, before the Parliament's Institutions and Transparency Committee, as the latter maintained that his investigation of the structured bonds' affair was obstructed.

    Papaconstantinou reiterated Zorbas' allegation, namely, that his findings "are being kept out of sight" and that the three cases he has investigated had a number of things in common.

    [03] FM: Ankara should consider Ecumenical Patriarchate as beneficial for its EU course

    Foreign Minister Dora Bakoyannis hosted a reception for visiting Ecumenical Patriarch Vartholomeos (Bartholomew I) on Friday at the foreign ministry, where she referred to the "new creative paths" in relations between the Church of Greece with the Ecumenical Patriarchate, as well as the "notable international initiatives" undertaken by the Ecumenical Patriarch.

    Additionally, the Greek foreign minister again underlined Athens' determination to continue to offer its "unreserved support" for the unhindered operation of the Ecumenical Patriarchate and the reopening of the Halki theological seminary.

    Archbishop Ieronymos of Athens and All Greece and other members of the Church of Greece hierarchy attended the event.

    Bakoyannis referred to the Ecumenical Patriarch as the first among equals, in the firmament of Orthodox Churches, and praised him for the notable initiatives he has undertaken for the promotion of inter-religious dialogue and the dialogue with the Roman Catholic Church. She also referred to his international actions for the protection of the environment, while stressing that the Phanar -- the seat of the venerable Patriarchate in Istanbul -- is Turkey's strongest European voice and the most ardent supporter of the country's European aspirations.

    Making a special reference to the problems faced by the Ecumenical Patriarchate in EU candidate-state Turkey, Bakoyannis stated that they are "remnants of obsolete mentalities", adding that the policy followed by Greece has managed to place these problems clearly within the European framework, making their solution a proof of Turkey's adjustment to European standards.

    In a more direct reference to Ankara, the foreign minister underlined that Greece will make every effort to assist the neighboring country realize that the presence of the Ecumenical Patriarchate on its territory can become an important argument in its favor.

    Bakoyannis pointed out that recognition of the Patriarchate's "Ecumenical" character, its unhindered operation, its ability to renew its clergy through the reopening of the Halki School, the recognition of its legal entity and the protection of its property rights can constitute strong advantages for Turkey in "its long and difficult course toward Europe."

    On his part, the Ecumenical Patriarch expressed the hope that Greece will continue to offer its wholehearted support to the Ecumenical Patriarchate, "the mother of All Churches".

    [04] Ecumenical Patriarch meets President, PM

    Prime Minister Costas Karamanlis received visiting Ecumenical Patriarch Bartholomew at the government's headquarters in Athens on Friday, in the presence of Foreign Minister Dora Bakoyannis who will host a luncheon in the Patriarch's honor at the foreign ministry.

    The Ecumenical Patriarch thanked the prime minister for receiving him in spite of his hectic schedule and, referring to the premier's recent visit to Istanbul and the Ecumenical Patriarchate, he said that his visit to the Great School of the Nation was very moving.

    Earlier, Hellenic Republic President Karolos Papoulias had received the Ecumenical Patriarch at the Presidential Mansion.

    Ecumenical Patriarch Bartholomew is scheduled to depart for Istanbul on Saturday.

    [05] Patriarch Bartholomew visits fire-stricken Parnitha

    Ecumenical Patriarch Bartholomew visited the Parnitha National Park on Friday morning, at the invitation of the Parnitha Observatory.

    Bartholomew asked all to join in the cause of protecting the environment and expressed his sincere love and support for the victims of last year's devastating fires in Greece.

    The Patriarch underlined that it was the joint affair of every person to hand over a viable and clean environment to the next generations and stressed that forests are a source of life and unsurpassed natural beauty.

    Referring to the devastating fires in Greece last summer, Bartholomew stressed that the destruction of the environment was raising the alarm for humanity itself.

    During the visit, the Patriarch was received by the CEO of the Skai media network Yiannis Alafouzos, the head of the newspaper "Kathimerini" Alexis Papahelas and representatives of WWF Hellas, as well as the Parnitha Observatory created by the above three. He also spoke with children from schools in local Thrakomakedones on environmental protection issues.

    [06] Ecumenical Patriarch addresses event on the environment

    Ecumenical Patriarch Bartholomew on Friday evening addressed an event on the environment.

    The event was organized by the Economic and Social Committee of Greece at the Athens Concert Hall.

    Bartholomew, who is known for undertaking initiatives on an international level for the protection of the environment, referred in detail to the rapid unfavorable changes in the climate which have negative consequences for mankind.

    He noted that an international agreement for the protection of the environment has not yet been reached and that sufficient measures for the restriction of pollution have not been taken.

    "The environment is part of the Creation, consequently it is in itself sacred as well. For this reason, its destruction and its downgrading constitute an act of sacrilege and a sin, due to the scorning towards God's creation," the Patriarch said.

    [07] Interior minister chairs wildfire prevention meeting

    The central coordinating body for civil protection convened on Friday under the chairmanship of Interior Minister Prokopis Pavlopoulos, as the session aimed to improve the state's preparation for wildfire prevention, all in view of the summer season.

    Pavlopoulos stated afterwards that similar meetings, chaired by Deputy Interior Minister Panagiotis Hinofotis, had already taken place, adding that the final one will be held on June 3.

    Much of the Peloponnese and the southern part of Evia island were ravaged last August by wildfires, one of which even scorched a portion of the ancient Olympia archaeological site.

    [08] KKE accuses gov't of lack of planning for dealing with natural disasters

    The Communist Party of Greece (KKE) in Parliament on Friday accused the government of lacking planning for the confrontation of natural phenomena.

    KKE Secretary General Aleka Papariga and six deputies of the party expressed their concern regarding the degree of dealing with problems arising from climate change or extraordinary disasters.

    The KKE deputies noted that Greece lags behind in paving a state policy for protection, resulting in local government and citizens having to undertake relevant measures.

    [09] DM tours new military hospital in Thessaloniki

    Defense Minister Evangelos Meimarakis on Friday visited the III Army Corps headquarters and the 424 Military Hospital of Thessaloniki.

    During his visit, Meimarakis emphasized that the "government shows, in practice, its increased concern for the armed forces staff and their problems. We are doing our best in order for officers' problems to be solved."

    The premises of the old hospital will be restored and will serve as a hostel for military officers.

    [10] FM spokesman briefs Chinese journalists on foreign policy issues

    Foreign Ministry Spokesman George Koumoutsakos briefed on Friday Chinese journalists on the progress of Greece-China relations, the "harmonious and fruitful" cooperation of the two countries in international organisations as well as on Greece's foreign policy basic lines.

    The thirteen journalists are visiting Greece at the invitation of the Minister of State and government spokesman Theodoros Roussopoulos.

    Koumoutsakos referred to the policy of principles based on the decisions and the UN resolutions, which China follows on the Cyprus issue, and reiterated Greece's policy in favor of One China.

    The spokesman expounded on Greece's geopolitical advantages for attracting business activities and tourists, saying that "it is a gate to a multimillion consumers' market, as well as a historic and beautiful country."

    As regards the Cyprus issue, Koumoutsakos stressed the need for good preparation at the level of the Working Groups and the Technical Committees with the aim to achieve the necessary progress before the commencement of direct talks between President of the Republic of Cyprus Demetris Christofias and Turkish Cypriot leader Mehmet Ali Talat, towards finding a solution to the political issue.

    Koumoutsakos stressed that the Greek government supports the will of President Demetris Christofias in the new effort to reach a Cyprus settlement.

    Cyprus, an EU member state since May 2004, has been divided since 1974 when Turkish troops invaded and occupied its northern third.

    Regarding relations with neighbouring Turkey, the spokesman said that despite the fact that the climate has clearly improved, nevertheless problems emanating from Turkish claims still remained. Greece, he added, supports Turkey's EU prospects on the condition it abides by the prerequisites set by by the Union.

    Referring to the Former Yugoslav Republic of Macedonia (FYROM), Koumoutsakos said Greece supported the neighbouring country's European prospects but that a problem still existed due to FYROM's attempt to usurp the name of a geographical region which belongs to three countries.

    [11] Athens mayor on official visit to Moscow next week

    Athens Mayor Nikitas Kaklamanis will be on an official visit to Moscow throughout most of next week, upon an invitation of Moscow Mayor Yuri Luzhkov.

    The two mayors are due to sign a memorandum of cooperation on Tuesday, at the Russian capital's City Hall, concerning five areas: the environment, culture, sport, tourism and mass media.

    A press conference will follow the signing of the agreement.

    Kaklamanis will be accompanied on his trip by city of Athens' cultural organisation chairman Sophia Daskalaki-Mytilineou, Athens city councillor Anna Rokofyllou and Athens Tourism and Economic Development Co. director Panagiotis Arkoumaneas.

    Financial News

    [12] Gov't seeks to boost business activity, raise R&D spending

    The Greek government creates the necessary regulatory framework seeking to boost business activity, by simplifying administrative procedures and combating bureaucracy, while at the same time earmarks more funds for research and technological development, Greek Development Minister Christos Folias said on Friday.

    Addressing a National Competitiveness and Development Council, Folias said the government's aim was to raise state contribution on research and development to 1.5 percent of the country's Gross Domestic Product and companies participation at 40 percent.

    The Greek minister stressed that business activity and competitiveness were the main goals of a Competitiveness Business Program, implemented by the government. Commenting on a recent report by IMD on the country's lower competitiveness ranking for 2008, said the report's main remarks were not surprising, adding that "the road we must travel is long and uphill. The message of the report is: work, work, work".

    [13] Voulgarakis addresses IMO con'f in London

    LONDON (ANA-MPA/L. Tsirigotakis)

    Merchant Marine and Aegean & Island Policy Minister George Voulgarakis referred to a "strategic vision for shipping in 2008-2018" and the major challenges for the next decade, during an address here on Thursday at an International Maritime Organization (IMO) conference.

    According to Voulgarakis, the shipping sector will face four major challenges in the next 10 years: maritime shipping's momentum and its structure; protection of the sea environment and reinforcement of maritime safety; lack of skilled manpower and adoption of new technologies in the seaport infrastructure and auxiliary facilities.

    Referring to the challenges faced as a result of globalization, Voulgarakis said the Greek government has undertaken several initiatives for the modernization and simplification of the national legal regime concerning seaport investments.

    "Greece is taking advantage of its unique geographic position, being in the crossroads of three continents," he said, adding that an international tender is underway as regards the privatization of the container terminals in the ports of Piraeus and Thessaloniki.

    Earlier, Voulgarakis met with roughly 100 Greek and foreign shipping industry representatives in London, to whom he outlined the favorable legal environment offered by Piraeus for foreign shipping companies.

    [14] McCreevy calls for faster implementation of EU internal markets rules

    EU Internal Markets and Services Commissioner Charlie McCreevy on Friday said the EU's executive arm was in talks with the Greek government over a series of issues such as opening up the domestic services market and implementation of community lesiglation on lottery services, while he said that the opening of so-called "closed professions" was a responsibility of national authorities.

    Speaking to reporters, after a meeting with Economy and Finance Minister George Alogoskoufis, the EU Commissioner said Greek regulatory authorities would decided on which professions should be opened to competition, although for some professions, such as architects, doctors, veterinaries, etc, there was community legislation for the automatic harmonization of EU member-states policies.

    McCreevy said his philosophy was that markets should decide for themselves and that authorities should make the necessary regulatory adjustments.

    The Commissioner said a single market has served Europe satisfactorily, since it has contributed in economic development and employment, and boosted its competitiveness in a globalised world.

    Almost 6.5 million new jobs have been created in the last two years and another five million are expected to be created by 2010, McCreevy said, while unemployment is expected to fall below 7.0 pct of the workforce, the lowest levels since the mid-80s in the EU.

    The head of the Federation of Hellenic Industries urged for fast and decisive steps to liberalize all domestic markets. During his meeting with EU Commissioner, Dimitris Daskalopoulos said closed professions were one of the major problems facing the domestic markets, since they boosted inflation and undermined productivity growth. "Business activity has lower opportunities for innovation and investments and consumers lose benefits offered by healthy competition," Daskalopoulos said.

    He noted that the opening up of the transport sector in Greece would lead to savings up to one billion euros, raising productivity by 2.5 percent and employment by another 4.0 percent.

    [15] Bank of Greece fines commercial banks with 1,730,000 euros

    The Bank of Greece on Friday fined commercial banks with 1,730,000 euros for breaching transactions transparency and money laundering regulations.

    A central bank statement said it imposed a fine of 695,000 euros on commercial banks for charging of expenses and commissions in breach of existing regulations, or failure to offering adequate or delayed information over contract terms.

    The remaining 805,000 euros referred to failures of adhering to rules against money laundering.

    All fines are in the form of a six-month interest-free deposit with the Bank of Greece. The biggest fines were imposed against ATEbank (115,000 euros), National Bank (175,000), Emporiki Bank (160,000), Hellenic Postbank (140,000), EFG Eurobank (160,000), Marfin Popular Bank (90,000) and Aspis Bank (95,000).

    [16] Schröder to speak at int'l energy con'f in Athens next week

    An international conference will take place in Athens on Thursday, May 22, at a central Athens hotel, with former German chancellor Gerhard Schröder arriving in the Greek capital to give the keynote address at the event.

    Greek Development Minister Christos Folias, whose portfolio includes energy issues, will be the other main speaker, while Deputy Minister Stavros Kalafatis will open the conference on Thursday morning. Several top Greek and foreign executives in the energy sector will also address the conference, entitled "Energy Without Frontiers: Market Liberalization and the Challenges for Regulation, Competition and the Security of Supply."

    The conference is being hosted by the well-known Lyzourezos law firm of Athens in association with the Kelemenis & Associates law firm.

    [17] EBEA con'f on Egyptian economy

    The Athens Chamber of Commerce and Industry (EBEA) announced on Friday the holding of a conference entitled "Possibilities of business cooperation with Egypt", set for Tuesday, May 27.

    The event is organized in cooperation with the Athens bureau for the promotion of investments and technology of the UN's Organization of Industrial Growth, as well as the embassy of Egypt.

    Assem Ragab, Chairman of Egypt's General Authority for Investment & Free Zones (GAFI), will speak on the present state of his country's economy and investment possibilities in the Mideast country.

    [18] Chinese business delegation to visit Athens

    The Greek-Chinese Chamber of Commerce will receive in Athens on Tuesday senior officials from Beijing, headed by the president of the China Road Transport Association, Yao Mingde.

    With the official permission of China's International Relations and Communications Ministries (MOC), China Road Transport Association is the only Chinese organization which is a member of the International Union of Road Transport.

    The aim of the visit to Greece by the Chinese delegation is to meet representatives of the Chamber and to explore prospects of cooperation in the sector of cargo transport, the transportation of passengers and the management of international transport.

    [19] ÅÉÂ funding of highway in the Peloponnese

    LUXEMBOURG (ANA-MPA/Maria Aroni)

    The European Investment Bank (EIB) on Friday said it will finance, with 200 million euros, construction of a new Corinth-Patras-Tsakona highway in the Peloponnese, as well as upgrades of the national highway from Elefsina to Corinth, as part of a programme to finance transport projects in southwestern Greece.

    EIB said the project will facilitate access the Peloponnese to and from Athens but reducing travel time by 20 percent on the Corinth-Patras section, by 30 pct in the Patras-Pyrgos section and by 40 pct on the Pyrgos-Tsakona section.

    [20] Greek stocks end 0.53 pct lower

    Greek stocks ended lower at the last trading session of a volatile week in the Athens Stock Exchange on Friday. The composite index fell 0.53 percent down to end at 4,229.89 points. The Greek market failed to follow other European markets' advance as many blue chip stocks were trading ex-dividend.

    The FTSE 20 index fell 0.97 pct, the FTSE 40 index rose 0.55 pct and the FTSE 80 index ended 0.75 pct higher. Turnover was an improved 415.424 million euros.

    Unibrain (19.37 pct), Mathios (8.33 pct), Interfish (8.0 pct) and Rilken (6.73 pct) were top gainers, while Tzirakian (8.89 pct), Viosol (7.14 pct), Alsinco (5.35 pct) and Euroholdings (4.88 pct) were top losers.

    Sector indices ended as follows:

    Insurance: +0.39%

    Industrials: +0.59%

    Commercial: +0.23%

    Construction: +0.84%

    Media: +2.46%

    Oil & Gas: -0.71%

    Personal & Household: +1.07%

    Raw Materials: +1.03%

    Travel & Leisure: -0.25%

    Technology: +2.28%

    Telecoms: +0.43%

    Banks: -1.58%

    Food & Beverages: -0.16%

    Health: +0.62%

    Utilities: +1.65%

    Chemicals: +0.42%

    Financial Services: -0.78%

    The stocks with the highest turnover were National Bank, OTE, Marfin Popular Bank and EFG Eurobank Ergasias.

    Selected shares from the FTSE/ASE-20 index closed in euros as follows:

    Alpha Bank: 22.54

    ATEbank: 2.77

    Public Power Corp (PPC): 25.98

    HBC Coca Cola: 29.00

    Hellenic Petroleum: 10.44

    National Bank of Greece: 34.56

    EFG Eurobank Ergasias: 18.30

    Intralot: 12.20

    OPAP: 25.00

    OTE: 18.90

    Piraeus Bank: 22.84

    Bank of Cyprus: 9.00

    Marfin Popular Bank: 5.78

    [21] ADEX closing report

    Greek futures contract prices saw their discount shrink substantially at the expiry of the May contracts in the Athens Derivatives Exchange on Friday, with turnover at 118.302 million euros.

    The June contract on the FTSE 20 index was traded at a discount of 0.51 pct and the June contract on the FTSE 40 index at a discount of 0.71 pct.

    Volume in futures contracts on the Big Cap index totaled 8,058 contracts worth 89.597 million euros, with 29,901 open positions in the market, while on the Mid Cap index volume was 152 contracts worth 3.835 million euros, with 255 open positions.

    Volume in futures contracts on equities totaled 16,755 contracts worth 19.696 million euros, with investment interest focusing on GEK's contracts (4,074), followed by Marfin Investment Group (908), OTE (3,951), National Bank (1,854), Intracom (328), Marfin Popular Bank (3,732) and Mytilineos (303).

    [22] Greek bond market closing report

    Turnover in the Greek electronic secondary bond market soared to 2.735 billion euros on Friday, of which 1.568 billion euros were buy orders and the remaining 1.167 billion were sell orders. The 10-year benchmark bond (July 20, 2018) was the most heavily traded security of the day with a turnover of 1.261 billion euros. The yield spread between the 10-year Greek and German bond fell to 0.50 percent, with the Greek bond yielding 4.76 percent and the German Bund 4.20 percent.

    In the interbank market, medium-term interest rates remained at high levels. The 12-month Euribor rate eased to 4.94 pct from 4.98 pct on Thursday, the six-month rate rose to 4.90 pct, from 4.86 pct on Thursday, the three-month rate was 4.86 percent and the one-month rate fell to 4.37 pct from 4.57 pct.

    [23] Foreign Exchange Rates - Saturday/Monday

    Reference buying rates per euro released by the European Central Bank:

    U.S. dollar 1.562

    Pound sterling 0.802

    Danish kroner 7.520

    Swedish kroner 9.411

    Japanese yen 163.59

    Swiss franc 1.647

    Norwegian kroner 7.918

    Canadian dollar 1.559

    Australian dollar 1.645

    General News

    [24] Greece holds event on climate change in the Mediterranean

    NEW YORK (ANA-MPA/P. Panagiotou)

    The urgent need for measures that will help in the adjustment to the impact of climate change in the Mediterranean region was underlined by Greece's permanent representative to the UN Ambassador Ioannis Mourikis while opening an event on Thursday held within the framework of the UN Commission on Sustainable Development 16th Session (UN-CSD-16) in New York.

    The roughly 50 representatives of Mediterranean countries, international and regional organizations and civil society organizations participating concluded that adjustment to the climate changes should be seen both as a challenge and an opportunity for improved cooperation and adoption of viable, efficient and well-targeted solutions.

    The event was sponsored by the Greek ministry of environment, town planning and public works in cooperation with the United Nations Environment Programme/Mediterranean Action Plan (UNEP/MAP) and the international inter-governmental organization Global Water Partnership-Mediterranean with the support of the European Commission and the Slovenian EU Presidency.

    [25] Culture minister visits Rhodes

    Culture Minister Michalis Liapis on Friday inspected the restoration works being carried out on the the medieval Palace of the Grand Master or "Castello" in the town of Rhodes. The minister confirmed that the monument will be repaired as quickly as possible and pointed out that the site is already open to visitors.

    Liapis stressed that those who forecast that the works will be delayed had been proved wrong and that the first part of the repairs to the damage caused by last winter's heavy rainfall have been completed.

    "We will proceed with the second phase of the restoration, that will be permanent and more stable. We will include the works in the 4th Community Support Framework,"

    Pointing out that preparatory work on the project was already underway, the minister stressed that it was the state's duty to complete repairs and preserve the monument within the best possible way.

    "Our first priority is the visitors' security. I am here today to give orders for the work to proceed immediately," he added

    Later, Liapis went to the village of Lindos, the site of both archaeological and medieval remains, where he will welcome Queen Sofia of Spain. The Minister will also visit several archaeological sites on the island on Saturday and will meet local officials.

    [26] Queen Sofia of Spain tours Rhodes

    Queen of Sofia of Spain, accompanied by Spanish ambassador to Greece Juan Ramon Martinez Salazar, arrived on the popular Dodecanese island of Rhodes on Friday, where she was greeted by local and prefectural officials, as well as the consul of Spain on Rhodes, Christina Kaili.

    The Queen of Spain left immediately for the archaeological site of Lindos where Culture Minister Michalis Liapis received her for a guided tour of the site's well-known acropolis and other monuments.

    In the afternoon Sofia will visit the medieval town of Rhodes, the archaeological museum and the Knights of St. John's Palace. In the evening the Queen and the Greek culture minister will inaugurate Spanish language and cultural centre in the old quarter of the island's capital.

    Liapis will subsequently host a dinner in the Spanish Queen's honour.

    Sofia will depart Saturday morning for Athens.

    [27] Cycladic Museum hosts exhibition on Russian Avant-Garde art

    The exhibition "Five Seasons of the Russian Avant-Garde", with works from the Costakis Collection of the State Museum of Contemporary Art in Thessaloniki, was inaugurated Thursday at the Museum of Cycladic Art in Athens by Greek President Karolos Papoulias.

    The exhibition will run until Oct. 10, and features 90 works from the acclaimed Costakis Collection, which includes paintings, drawings and three-dimensional artifacts that represent all the groups and movements of the Russian avant-guard (1900s-1930s). Among the artists whose works can be seen on display are Malevich, Popva, Tatlin, Rochenko, Nikritin, Lissitzky etc.

    The exhibition is divided into five units devoted to the bold pioneering aesthetic experiments that took place in Russia and, through their dynamism and boldness, transformed the history of 20th-century art.

    [28] ISTAME holds events marking 40th anniversary of student uprising in Paris

    The Institute for Strategic and Development Studies (ISTAME) and main opposition Panhellenic Socialist Movement (PASOK) Group in the European Parliament on Friday began three-day events marking the 40th anniversary of the student uprising in Paris in May 1968.

    The events began in Piraeus with an address by ISTAME director general H. Avraam who referred to the student uprising and on the future of the Left.

    PASOK Eurodeputy S. Lambrinidis described the events as a substantial venture by ISTAME.

    ISTAME president N. Kotzias in his address analyzed what May 1968 has in common with the present, adding that people "must learn to dispute and hope that through their action they can change the world."

    The three-day events will end with a speech by main opposition PASOK leader George Papandreou.

    [29] Arson attack on a police station in Egaleo, Athens

    A newly emerged anti-establishment group calling itself "Flame" assumed responsibility for an arson attack against a police station in Egaleo, Athens carried out at dawn on Friday by a group of roughly 15 hooded individuals riding motorcycles. A total of 5 police patrol cars and two unmarked police cars parked outside the police station were destroyed by fire bombs before the culprits fled the scene.

    The police guard on duty tried to stop them by firing 3 warning shots into the air to no avail.

    A manhunt was launched immediately after the attack but no arrests have been made yet.

    Earlier, an anonymous caller had told a private television station that the urban guerilla group "Flame" assumes responsibility for the attack and threatened that more attacks will follow within the next 24 hours against an unidentified target in a show of solidarity with jailed self-proclaimed anarchists.

    [30] Traffickers arrested for transporting illegal immigrants

    Four individuals were arrested in Evros, northern Greece, on Friday for transporting eight illegal immigrants and for possessing drugs and guns.

    Two traffickers aged 37 and 22, transported the illegal immigrants with their cars. Two accomplices aged 55 and 34 were also arrested. The latter were in front with their cars to warn in the event of a police inspection.

    Found in their possession were small quantities of heroin, two air rifles and two fake hand guns.

    The four cars were impounded while the four traffickers and eight illegal immigrants were led before the Alexandroupolis Public Prosecutor.

    Weather forecast

    [31] Mostly fair on Saturday

    Mostly fair weather with northerly, northwesterly winds are forecast in most parts of the country on Saurday, with wind velocity reaching 4-5 beaufort. Temperatures will range between 11C and 29C. Mostly fair in Athens, with variable 3-4 beaufort winds and temperatures ranging from 13C to 27C. Partly cloudy in Thessaloniki, with temperatures ranging from 12C to 25C.

    Cyprus Affairs

    [32] EP group cautiously optimistic about Cyprus

    NICOSIA (CNA/ANA-MPA)

    A European Parliament group, dealing with the Turkish Cypriot community, appeared Friday cautiously optimistic about prospects of a political settlement in Cyprus that will reunite the country, divided since the 1974 Turkish invasion.

    The European Parliament High-level contact Group for Relations with the Turkish Cypriot community, which concluded a visit here, welcomed the opening of a crossing point at Ledra street, in Nicosia, providing access to and from the island's northern Turkish occupied areas and said this should lead to bigger changes.

    Coordinator of the Group, French MEP Francoise Grossetete, told a press conference Friday that a possible solution in Cyprus can only be an international political settlement, adding that "anyone that plays a direct or indirect role in this field has to assume their responsibility and make sure that this unexpected opportunity that has arisen will lead to victory and success and therefore to the reunification of Cyprus."

    She said difficulties in Turkey's domestic front will not make things easier and wondered whether the leader of the Turkish Cypriot community has "enough room" to manoeuvre at the negotiating table.

    "We would like Mr. Talat to carry enough weight in order to negotiate under better conditions and I must admit that I am not sure this is the case," she pointed out.

    She described the visit as "particularly important", welcomed the start of talks, said the opening of the Ledra crossing point was "highly symbolic" and encouraged Cypriots not to stop at that.

    "Cypriots must go beyond what is symbolic and continue with these talks that began on the 21st of March," following an agreement between Cyprus President Demetris Christofias and Turkish Cypriot leader Mehmet Ali Talat.

    She said the group wants to see progress through the ongoing negotiations at the bicommunal teams of experts (six working groups and seven technical committees), leading to the reunification of Cyprus as soon as possible.

    "Through our meetings with the various leaders and senior officials and our dialogue with both sides, we feel optimistic but it is cautious optimism," she said, saying that the Group will do all it can to facilitate progress.

    She referred to "numerous difficulties" the two communities outlined during the Group's meeting and said that everybody, including the EU, has to contribute towards progress for a solution.

    A lasting settlement can only be achieved if both sides put everything they have on the table, she said.

    German MEP Mechtild Rothe welcomed the "new atmosphere" on the island and "the process of understanding the two leaders have started which should and must lead to fully-fledged negotiations and then to a solution."

    "This courage and commitment shown by the two leaders reminds me very much of the courage and commitment shown by Willy Brandt 30 years ago. This special commitment led into the fall of the Berlin wall," she noted. "I go back with a lot of optimism with a lot of hope," she added.

    Austrian MEP Karin Resetarits said more moves must be made towards a solution and expressed hope that the 2009 European Parliament elections will find a united Cyprus.

    British MEP Ashley Mote said that any settlement reached in Cyprus must deal with the risk of uncontrolled mass economic migration from mainland Turkey to Western Europe, adding that this does not seem to be under consideration at the moment, adding that this is an issue that has to be dealt with at the EU level.

    Greek MEP Georgios Georgiou said that the fact that the two sides have entered into the difficulties of negotiations makes him optimistic.

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