[ana-dist] Athens News Agency: Daily News Bulletin in English, 12-11-30

[HR-Net News Distribution Manager]

Friday,  30  November  2012          Issue No: 4235

CONTENTS
[01] Gov't unveils plan to repay 9.3 bln euros in state debts to private
      sector
[02] Once the 2011 debts are repaid, the state will begin repaying debts
      generated in 2012.
[03] Pension funds, hospitals, biggest debtors to private sector
[04] PM briefs president; 'Time now for hard work'
[05] SYRIZA on PM's statements after meeting with Papoulias
[06] SYRIZA proposal on first Memorandum fact-finding committee rejected
      in Parliament vote
[07] Parliament holds heated debate on SYRIZA motion for fact-finding
      commission on conditions that led to Memorandum
[08] PASOK leader sees 'new start' for Greece in Parliament speech
[09] Ind. Grks leader attacks coalition gov't
[10] KKE leader supports proposed Parliament probe into Memorandum
[11] SYRIZA-EKM nationwide conference to begin on Friday
[12] Acquittal of ethnic Albanian commander 'no surprise', KKE says
[13] Labour minister holds talks with German ambassador
[14] Archbishop, defence minister hold meeting on boosting Church-armed
      forces cooperation
[15] PM Samaras to attend memorial service of late Cyprus president
      Papadopoulos
[16] Research, technology discussed in meeting between relevant SG,
      Ukrainian envoy
[17] Greek mission in Afghanistan completed
[18] 'Greece has entered a new era,' Hatzidakis tells Capital Link event
[19] PM delivers message to investor forum in NYC
[20] Greece tops Eurozone's adjustment progress indicator
[21] Joint Greece-China inter-ministerial meeting in Beijing; embassy
      hosts investment seminar
[22] Greece-China tradeshow inaugurated by Dep. FM in Beijing
[23] Meeting between FinMin and Greek Banks Union directorate concluded
      without agreement
[24] Eurogroup decisions on loan mark end to speculation: Alpha Bank
      report
[25] IMF welcomes Greek bond buy back announcement
[26] Ministry to lease non-agricultural land for major investments
[27] Budget revenues from income tax up 4.4pct in Jan-Oct
[28] Olive oil production posts substantial increase
[29] Folli Follie registers rise in sales, revenues for Jan.-Sep. 2012
[30] Business Briefs
[31] Stocks end down on Thur.
[32] Greek bond market closing report
[33] ADEX closing report
[34] Foreign Exchange rates - Friday
[35] Research in 'Antikythera Wreck' area
[36] Virtual art guiding tour at New Acropolis Museum
[37] Noted linguist details similarities between Doric Greek, ancient
      Macedonian in Melbourne lecture
[38] Vovos released on bail after testimony for overdue state debts
[39] Cancer patient at hospital placed under arrest for illegal migration
[40] Authorities intercept illegal consignment of copper
[41] Olympic Games Museum exhibits to return on Sunday
[42] Rainy on Friday
---------------------------------------------------------------------------
Politics

[01] Gov't unveils plan to repay 9.3 bln euros in state debts to private
sector

Alternate Finance Minister Christos Staikouras on Thursday assured that
a substantial proportion of the state's 9.3-billion-euros figure in
outstanding debts to the private sector will be paid by the end of the
year, while unveiling the repayment timetable during a press conference.

The state owes 9.3 billion euros to the private sector, of which seven
billion euros of the debt was generated in 2011, while the remaining
2.3 billion euros concerns debts of state organisations generated in 2012.

Staikouras said repayment of outstanding state debts to the private
sector would be gradual, targeting at complete repayment by end-2013.

He said priority would be placed on the repayment of the debts generated
up to end-2011, with the focus on payment of the retirement superannuities
of 40,229 retired civil servants totaling 1.384 billion euro, debts to
pharmaceutical companies that near 2.0 billion euro, and tax rebates
totaling 738 billion euro.

[02] Once the 2011 debts are repaid, the state will begin repaying debts
generated in 2012.

"The government the importance for the economy of the repayment of the
outstanding state debts, which must be done speedily, simply and with
transparency," Staikouras said.

He assured that with the disbursement of December's installment of the
outstanding tranche of the EC-ECB-IMF bailout loan to Greece, the Greek
government will be in a position to repay a substantial proportion of
these debts.

[03] Pension funds, hospitals, biggest debtors to private sector

Pension funds and state hospitals have the largest overdue debt to the
private sector, owning 4.492 billion euros and 1.790 billion euros,
respectively, a report by the State's General Accounting Office stated
on Thursday.

The report said government ministries (934 million), local government
authorities (971 million), other state legal entities (385 million)
and VAT returns (738 million) added to a total overdue debt of 9.310
billion euros to the private sector.

The Defense ministry had the biggest overdue debt among government
ministries (378 million euros), followed by the Transport ministry
(150 million) and the Development ministry (124 million).

The National Tourism Organization had the biggest overdue debt among
the state's other legal entities (44.8 million euros), followed by
the Athens Concert Hall (Megaron) (52 million), Themis Constructions
(39.7 million), Hellenic Railways (32.8 million) and the National Opera
(8.0 million euros).

[04] PM briefs president; 'Time now for hard work'

"This is not a time for gloating and complacency. It is the time for hard
work to vindicate the sacrifices of the Greek people," Prime Minister
Antonis Samaras said on Thursday after being received by President of the
Republic Karolos Papoulias, whom he briefed on the decisions regarding
Greece, taken at the Eurogroup meeting on Monday.

"I briefed the president on the Eurogroup decisions. This is not a time
for gloating and relaxation. It is the time for hard work to re-start the
engine of the economy, so that there will be growth. It is the time for
hard work, to vindicate the very great sacrifices of the Greek people,"
Samaras said.

[05] SYRIZA on PM's statements after meeting with Papoulias

Main opposition SYRIZA on Thursday accused Prime Minister Antonis Samaras
of following a "strategy of defeat and submission", commenting on the
premier's statements after his meeting with President Karolos Papoulias,
during which he briefed the latter on the Eurogroup decisions affecting
Greece.

"It is not necessary for Mr. Samaras to continue 'the hard work'
that has brought us to this point. His devotion to the Memorandum and
his submission to our creditors and the country's absence from debates
regarding European developments, comprise the triptych of his strategic
defeat and submission", SYRIZA said in an announcement, underlining that
"to this policy, the only appropriate unity is that of the people and
youth, for the reversal of the memorandums and the forging of a new
strategy that will focus on the needs of the society".

[06] SYRIZA proposal on first Memorandum fact-finding committee rejected
in Parliament vote

A proposal submitted by the main opposition Radical Left Coalition
(SYRIZA) party for the creation of a fact-finding committee to probe the
country's inclusion in the first EC-ECB-IMF Memorandum was rejected in
Parliament on Thursday, with 167 votes against and 119 in  favour.

Fourteen deputies were absent from the vote.

[07] Parliament holds heated debate on SYRIZA motion for fact-finding
commission on conditions that led to Memorandum

The parliament plenary on Thursday opened a heated debate on motion tabled
by main opposition SYRIZA leader Alexis Tsipras and 70 other party MPs
for the establishment of a parliamentary fact-finding commission to probe
the circumstances that led Greece to take recourse in the International
Monetary Fund (IMF) and the signing of the subsequent Memorandums and
investigate possible criminal accountability of government members,
past and present, in the affair.

The debate is expected to wind up at approximately 5:00 on Thursday
afternoon, at which time a roll-call vote will be held on the motion.

MPs of New Democracy, PASOK and Democratic Left (DIMAR), which comprise
the three-party coalition government, said their parties reject the
motion, accusing SYRIZA of petty-party expediencies at a time that the
country needs unity to overcome the crisis, while ND deputy Danis Tzamtzis
said that ND will table its own motion for a fact-finding commission so
that light will be shed on the issue without empathy and vindictiveness.

Opposition MPs said their parties will vote in favor of the SYRIZA motion.

Addressing the 300-member unicameral parliament, SYRIZA leader Alexis
Tsipras described the management of the crisis by the three-party
coalition government as a "perpetual and ongoing crime against the Greek
people", adding that SYRIZA has tabled the motion because it believes
it is its duty to do what the majority of the Greek people desire,
namely to seek out how a debt crisis turned into a national tragedy.

He said it is the duty of parliament and all the political forces that
"all the wrong policy choices that turned Greece into a guinea pig of
the crisis will be revealed".

"You tell us that our motion is vengeful and vindictive. It is, however,
a motion that has to do with the present and the future, because what is
happening today is a perpetual and continuing crime, and that is why you
reject our motion. This stance reveals and proves that the Memorandum
was not a solution of necessity but a choice," Tsipras said.

He accused Prime Minister Antonis Samaras and the ND and DIMAR deputies of
stating on the one hand that they do not agree with the rationale of the
Memorandum but on the other that they are forced to adopt this rationale,
and blasted them for refusing to probe accountability in order to avoid
judgment on their choices and responsibilities.

Referring to the closely watched issue of the country's debt, questions
over its sustainability and the prospects of a "buy-back", Tsipras said:

"Dec. 13 is not far away. What will we achieve then? Has the debt become
sustainable? Do you want to persuade us that goal of sustainability
comes after 12 years of disaster, so that the debt stands at the point
when we entered the (bailout) mechanism? But even if sustainability is
achieved, an increase in GDP by 50 billion euros is needed. However,
do to the recession we have had a constant reduction (in GDP), and you
refer to an increase in GDP? But even if we overlook this, the write-off
of the debt is unavoidable; you are simply giving Ms. Merkel time and
becoming her cheerleaders," he said.

[08] PASOK leader sees 'new start' for Greece in Parliament speech

PASOK leader Evangelos Venizelos, president of a junior member of Greece's
three-party governing coalition, on Thursday hailed the Eurogroup's
decisions for Greece as a "new start" for the country. He was speaking
in Parliament during a debate on main opposition SYRIZA's proposal for
a Parliamentary examination committee to look into the events that led
to Greece signing the first memorandum for bailout loans.

He also attacked SYRIZA and said that the main opposition was saddened
by the country's successes and "investing in impasse, destruction and
the death of the country".

"We will succeed and you will be isolated," he added, and underlined
the government's commitment to creating the conditions for a national
recovery - starting with the primary condition of stability in politics
and the state.

"We, in PASOK, are guarantors of both the political and social stability
of the country and we are proud because we are standing and will rise
together with the country," he added.

Criticising SYRIZA's proposal for an investigation into how Greece came
to sign the memorandum, he accused the party of lapsing from "political
to prosecutorial speech" and seeking responsibilities in the past.

[09] Ind. Grks leader attacks coalition gov't

Opposition Independent Greeks leader Panos Kammenos on Thursday attacked
the coalition government during a debate on a proposed Parliamentary
investigation into events leading to the signing of the Memorandum for
bailout loans. Speaking in Parliament, Kammenos was particularly scathing
about the stance adopted by New Democracy, which he accused of covering
up for the PASOK government of George Papandreou and Evangelos Venizelos.

Kammenos also claimed that while he was investigating the issue of the
CDS and the possible links with Papandreou's brother, some people had
asked him to keep quiet in order for them to drop a civil suit filed
against him for 15 million euro.

"In the name of a good political climate you are asking us to cover them
up? Why? Did we spend it together?" Kammenos asked.

The Ind. Greeks leader said he disagreed with main opposition leader
Alexis Tsipras when he said that the parties of the ruling coalition
would enter a "footnote" in history.

"We want to send you to the dock for the accused and we want to get back
the money that speculators stole with you support," he added.

[10] KKE leader supports proposed Parliament probe into Memorandum

Communist Party of Greece (KKE) General Secretary Aleka Papariga
on Thursday indicated that her party will support a proposal for a
Parliamentary examination committee to look into the events that led to
Greece signing the first bailout memorandum, while speaking in Parliament.

She stressed, however, that her reasons were not the same as those of
main opposition 'Coalition of the Radical Left' (SYRIZA) that tabled
the proposal.

"There are certain clues and evidence that suit the role of the
examination committee, such as the 'haircut' imposed on pension fund
reserves. I have to say, however, that SYRIZA is literally making a
mockery of the role and mission of the Examination Committee with the
overall issues it raises. The overthrow of the capitalist system is made a
mockery when it is made the object of an examination committee," she said.

Papariga also noted that Parliament could just as easily arrange a
seminar, rather than an examination committee, on how the International
Monetary Fund (IMF) was brought in since it was not a "penal" issue.

[11] SYRIZA-EKM nationwide conference to begin on Friday

The main opposition 'Coalition of the Radical Left' (SYRIZA-EKM) party
will take the first step to becoming a uniform party rather than a loose
coalition of separate component factions with the start of its nationwide
conference on Friday, which will take place over the weekend at Faliro's
'Peace and Friendship' indoor stadium with 3,400 delegates taking part.

The weekend conference will make decisions on the form of the new party
and its organisation, while the next step will be concluded with the
holding of a founding conference in the coming spring.

The conference will be launched on Friday with a speech by SYRIZA leader
Alexis Tsipras, while Aristidis Baltas will present a draft proclamation
of the new party and Sofia Sakorafa a new organisational plan. On
Saturday, the delegates elected in about 550 assemblies throughout the
country will present their positions, while on Sunday afternoon there
will be elections, including that of the Central Political Committee to
lead SYRIZA until the spring founding conference.

According to SYRIZA, after the registration process was completed, the
party's members increased to 35,000 and had virtually tripled relative
to the past.

[12] Acquittal of ethnic Albanian commander 'no surprise', KKE says

Opposition Communist Party of Greece (KKE) on Thursday issued a strong
criticism over the acquittal of former commander of the so-called Kosovo
Liberation Army (KLA) Ramush Haradinaj by the International Criminal
Tribunal for the former Yugoslavia, or ICTY.

The ethnic Albanian was undergoing a retrial on charges of war crimes
committed against Serbs and other non-Albanians in Kosovo.

"It comes as no surprise that ICTY has acquitted Haradinaj on the grounds
of insufficient evidence for the murder-provocations and the illegal
arms and drugs trades," the party said.

"It would have been a surprise if the US and EU-appointed court could
have seen the blatant crimes and ruled accordingly. These are the bodies
that supporters of capitalism present as being independent and just,"
KKE added.

[13] Labour minister holds talks with German ambassador

Labour Minister Yiannis Vroutsis held a meeting on Thursday with German
ambassador to Greece Wolfgang Dolt, focusing on changes and reforms that
are being promoted in the Greek labour market and of undeclared labour.

Dolt was briefed during the meeting, also attended by deputy minister
Nikos Panayiotopoulos, on the recent reforms and the Labour ministry's
legislative work.

Also examined were ways of upgrading the labour inspectors corps and the
combatting of undeclared labour, combined with the handling of illegal
immigration. The minister and the German ambassador also agreed to
the creation of a steadfast cooperation framework between the Labour
ministries of Greece and Germany.

[14] Archbishop, defence minister hold meeting on boosting Church-armed
forces cooperation

Archibishop Ieronymos of Athens and All Greece on Thursday had a
meeting with Defence Minister Panos Panagiotopoulos to discuss ways to
further improve cooperation between the Greek Church's non-governmental
organisation 'Apostoli' and the armed forces for the support of vulnerable
social groups.

[15] PM Samaras to attend memorial service of late Cyprus president
Papadopoulos

NICOSIA (AMNA/A. Viketos)

Greek Prime Minister Antonis Samaras has accepted an invitation from the
family of late Cyprus president Tassos Papadopoulos and will be making
a memorial address at his fourth annual memorial service.

According to an announcement by the Tassos Papadopoulos Studies Centre,
the memorial service will be held on Sunday December 9, at 9 a.m.,
at the Aghios Nikolaos Church in Kato Deftera, near Nicosia.

[16] Research, technology discussed in meeting between relevant SG,
Ukrainian envoy

The Secretary General for Research and Technology (SGRT), Vassilis
Maglaris, held talks on Wednesday with Ukrainian ambassador to Greece
Volodymyr Shkurov.

During the meeting, which was held at the general secretariat for research
and technology, issues of mutual interest as well as preparation of a new
programme and intensification of cooperation between research foundation
of both countries were discussed.

[17] Greek mission in Afghanistan completed

The Greek mission in Afghanistan has been completed, with the return of
the Afghanistan Special Composition Brigade to Greece from Kabul, which
is part of the Defence ministry's expenditures cutbacks framework, as it
was announced on Thursday evening by the National Defence General Staff.

All the material and equipment that was in Afghanistan returned together
with the repatriated members, while the saving of money from the departure
amounts to 6,800,000 euros compared to 2011 and 7,700,000 euros compared
to 2010.

Seven trainer pilots remain in Afghanistan to train Afghan pilots in
C-27J aircraft, who will be departing on completion of their mission.

A total of 3,295 members participated in the Greek Afghanistan force,
with a stay duration of between 3-6 months.

Financial News

[18] 'Greece has entered a new era,' Hatzidakis tells Capital Link event

NEW YORK (AMNA/P. Panagiotou)

Greece has entered a new, hopeful era, Greek Development, Competitiveness,
Infrastructure, Transport and Networks minister Costis Hatzidakis told
a reception Wednesday night in New York at the Harvard Club in New York.

The reception was held in the context of the 14th annual Capital Link
Investor Forum titled "Building a new Greece", which opens Thursday
at the Metropolitan Club with Hatzidakis as the keynote speaker, and
messages by Prime Minister Antonis Samaras and European Commission Task
Force for Greece chief Horst Reichenbach via webcast.

Hatzidakis acknowledged the "significant contribution" of the overseas
Greeks and the support that has been forthcoming from them to the
country of their origin, stressing that "Greece is not a lost cause,
and this was proved by the Greek people with their immense sacrifices".

"Now, the hour of hope and growth has come," he added.

Hatzidakis put special weight on the structural changes and the
legislative framework for investments, underlining the "fast track"
process that facilitates interested investors in the speedy acquisition
of the required licenses.

The minister further noted the re-start of the major infrastructure
projects, the promotion of investment collaborations and the growth
opportunities in Greece, and stressed that "Greece's stay in the eurozone
is non-negotiable".

During the banquet the "Capital Link Leadership Award" for 2012 was
presented to Greek-Australian Andreas Liveris, chairman and CEO of
the Dow Chemical Company, for his leading role as a founding member
of the Hellenic Initiative, which he created together with four other
distinguished businessmen for the purpose of supporting Greece and
improving the country's image internationally.

Liveris explained that the Hellenic Initiative is a global, non-profit,
non-governmental organisation the vision of which is, through the
generosity of the Greek Diaspora and phil-Hellene community, to
provide substantive encouragement and financial reinforcement for the
preservation of Greek organisations and programmes and to inspire a
business development that will enable the Greek people to secure the
long-term prosperity of the country.

Liveris called on all the Greeks abroad and phil-Hellenes to use all
their abilities and capabilities to help the Greek people, particularly
the vulnerable social groups.

Likening the present situation in Greece with the Great Depression in
the US in the past, Liveris stressed the need of simultaneously achieving
relief, recovery and reform, so as to reverse the climate in Greece.

Parallel to the main Forum session, there will be one-on-one meetings
between Greek government officials, companies. management and investors.

While in New York, Hatzidakis will have several meetings with
businessment, investors and officials of the Greek American community,
and will be received by Archbishop Demetrios of America.

Hatzidakis will also pay a visit to the New York Stock Exchange (NYSE)
on Friday, in the context of "Greek Day on the NYSE".

[19] PM delivers message to investor forum in NYC

NEW YORK (AMNA/P.Panagiotou)

The Greek people have been subjected to "painful sacrifices" over
"tough but necessary measures," Prime Minister Antonis Samaras said in
a videotaped message to the 14th Annual Investor Forum-Greece, organised
by Capital Link on "Building a New Greece" in New York City on Thursday.

Samaras said it was necessary to build a business environment that would
attract investment and development. "Greece is not alone in this effort,"
he added, "and we can count on other European Union members and on allies
and friends like the economic and business community of the US."

Development Minister Kostis Hatzidakis, who attended the conference,
spoke on Greece's new perspectives and laid emphasis on structural
changes and the legislative framework for investments, especially for
a speedier process of granting operation licences.

[20] Greece tops Eurozone's adjustment progress indicator

Greece tops the list detailing the performance of the 17 eurozone members,
according to a report by the Lisbon Council think tank, made public on
Thursday. However, the overall picture of the Greek economy is not good,
as a result of widespread speculation over the last two years vis-?-vis
the country's presence in the eurozone.

Specifically, Greece posted the largest adjustment progress indicator
(8.2) and presented the greatest change within a period of one year
(1.6), followed by Ireland, Estonia, Spain and Portugal.

Greece recorded the lowest fundamental health indicator in the eurozone
(3.6, with a 0.6 improvement), while the top positions were occupied by
Estonia, Luxembourg, Germany and the Netherlands.

The 2012 Euro Plus Monitor, the authoritative competitiveness ranking,
jointly published each year by Berenberg Bank and the Lisbon Council,
ranks the 17 eurozone countries on a range of key macro-economic
indicators. It provides a comprehensive view of progress - and retreat -
throughout the European currency zone. Specifically, this innovative
ranking is based on two key indicators: 1) the Fundamental Health
Indicator, which looks at individual countries' overall economic health,
and 2) the Adjustment Progress Indicator, which measures the speed with
which countries are adjusting to the challenges posed by the financial
and economic crisis.

[21] Joint Greece-China inter-ministerial meeting in Beijing; embassy
hosts investment seminar

BEIJING (AMNA)

The foreign ministry's general secretary for international economic
relations and development cooperation, Panagiotis Michalos, represented
the country at the 11th joint Greece-China inter-ministerial meeting
here this week, followed by a meeting with the director of the foreign
investment and economic cooperation department of Chinese commerce
ministry, Wang Shenyang.

The high-ranking Chinese official reportedly referred to the excellent
prospects for an increase in Chinese investments in Greece following
this week's closely watched Eurogroup decision in Brussels.

On his part, Michalos emphasised the efforts being made by the Greek
government to rejuvenate Greece's recession-battered economy, calling on
Chinese investors to increase their presence in the east Mediterranean
country.

Michalos also referred to the need for a direct Beijing-Athens flight,
a long-standing goal of successive Greek governments.

The Greek official accompanied Deputy Foreign Minister Dimitris Kourkoulas
on his official visit to China, which included a round of meetings with
Chinese leadership and business executives.

The visit by the delegation also coincided with an investment seminar
organised by the Greek embassy in Beijing, in cooperation with China's
commerce ministry and Lazard Bank China, with the participation of the
Invest in Greece agency.

Michalos also met with Lou Jiwei, the president of the China Investment
Corp. (CIC), the largest investment agency in the country that now boasts
the world's second largest economy.

Labour sector legislation in Greece, reactions amongst Greek society
to recent measures, the tax regime in the country and the state of
the domestic banking sector dominated talks, along with the Samaras
government's privatisation plan and efforts to attract FDIs.

CIC manages assets and capital worth 400 billion euros.

[22] Greece-China tradeshow inaugurated by Dep. FM in Beijing

BEIJING (AMNA)

The 1st Business to Business (B2B) Tradeshow of Greece-China was
inaugurated in Beijing by Deputy Foreign Minister Dimitris Kourkoulas
on Thursday.

The tradeshow includes numerous Greek companies specialising in olive oil,
wine, cheese and honey products, among others.

Kourkoulas, who is in the Chinese capital to attract new investments
in Greece, said there was strong interest expressed by major Chinese
investors in importing Greek products.

"We are trying to improve the existing framework, but in the end
it is private initiative and action that counts," he said, calling
on entrepreneurs in both countries to take advantage of bilateral
cooperation prospects.

The event isorganised by the Greece-China Institute of Economic &
Cultural Action with the support of the Greek embassy.

[23] Meeting between FinMin and Greek Banks Union directorate concluded
without agreement

The meeting between Finance Minister Yannis Stournaras and the
directorate of the Hellenic Bank Association on Thursday, focusing on the
participation or not of local banks in the bonds repurchasing programme,
was concluded without statements being made by the two sides.

According to reports from bank officials, an agreement was not reached
during the meeting since the troika (EU, ECB and IMF) disagrees with the
"credit backing" if the Greek banks participate in the programme.

[24] Eurogroup decisions on loan mark end to speculation: Alpha Bank
report

The Nov. 27 Eurogroup decisions are a milestone for Greece, regardless
of the difficulties the fiscal adjustment programme might present in
its implementation, according to an Alpha Bank economic bulletin issued
on Thursday.

These decisions ended all "wishful thinking" for a "disorderly default"
in Greece, the bank analysts noted, including assertions that the country
would be unable to implement the fiscal adjustment programme and thus
be forced to leave the eurozone.

Greece will emerge from the crisis stronger with reinforced credibility,
competitiveness and economic growth, while maintaining its dignity
and winning international respect, they added. The right conditions are
present that will allow the return of economic fluidity, as bank deposits
registered a further increase in October for the fourth consecutive month.

[25] IMF welcomes Greek bond buy back announcement

WASHINGTON (AMNA/P. Panagiotou)

The International Monetary Fund (IMF) will wait for implementation of a
Greek bond buy back process before moving on with internal procedures to
reach a decision over the release of a next tranche of an aid to Greece,
Gerry Rice, the IMF's spokesman said here on Thursday.

Speaking to reporters, the IMF spokesman declined to comment in response
to a press question on whether the Fund was considering a "plan B"
in case the bond buy back programme was not successful.

Rice reiterated that the agreement reached in a Eurogroup meeting was
"significant and specific" and that these measures could help to bring
Greek debt back to a sustainable path, and welcomed the European partners'
commitment to bring the country's debt below 110 pct of GDP by 2022,
something dependent on the "full implementation" of the programe by
Greece.

He also referred to "significant efforts" made by the Greek government
to promoting fiscal and structural reforms. Rice also welcomed an
announcement by Greek authorities to begin, next week, a bond buy back
process. The IMF spokesman said IMF director Christine Lagarde will not
participate in the next Eurogroup meeting.

[26] Ministry to lease non-agricultural land for major investments

The agricultural development and foods ministry on Thursday announced
that it is going ahead with the long-term lease of four parcels of
uncultivated land to be used by major investments in production, each
exceeding three million euro. In the first phase of the project the
land put up for lease covers 216 hectares, with a tender underway for
the signature of 25-year leases.

So far, a number of investors have expressed interest and submitted
business plans whose total value exceeds 200 million euro and might
create more than 300 jobs.

Agriculture minister Athanassios Tsaftaris noted that Greece might soon
become a model of a modern competitive economy, "because the flexibility
of its economy allows it".

The leasing of non-agricultural land owned by the ministry, as with the
distribution of agricultural land to the unemployed and young farmers,
was made possible through a law on the management of the ministry's
properties. According to the ministry's estimates, there are at least
10 large land parcels owned by the ministry that could be used to house
major investments.

[27] Budget revenues from income tax up 4.4pct in Jan-Oct

Budget revenues from income tax rose to 10.9 billion euro in the 10-month
period January-October this year, marking a 4.4 percent increase against
10.5 billion euro in the corresponding year in 2011, according to figures
submitted to parliament by deputy finance minister George Mavraganis
on Thursday.

Of that sum, 8.2 billion euro are revenues from income tax on natural
entities, 1.3 billion euro from income taxes on legal entities and
another 1.3 billion euro from income taxes on 'special categories'.

According to the Finance Ministry document, revenues from income tax on
natural entities increased by 23.4 percent in the 10-month period this
year, while revenues from income tax on legal entities fell by 38.8
percent and revenues from income tax on 'special categories' declined
by 15.5 percent.

Also, revenues from property taxes rose to 2.3 billion euro in the
10-month period, of which 1.9 billion euro came from the extraordinary
surtax on real estate that is collected via electricity bills (EETIDE),
posting a whopping 483.9 percent increase over the same period last year.

Budget revenues from the Value Added Tax (VAT) fell by 11.1 percent to
12.8 billion euro from 14.4 billion euro in the corresponding period in
2011. Of the 12.8 billion figure, just 2.1 billion euro were from the
petrol products sector, posting a 7.7 decline against the same period
in 2011.

Further, revenues from tax on tobacco fell to 614 million euro, posting
a 14.7 percent decline against the 10-month period last year, while 10
billion euro are from the "sundry revenues", which fell 11.6 percent
against the corresponding period in 2011.

[28] Olive oil production posts substantial increase

Olive oil production in Greece during the current harvesting season
is expected to reach 350,000 tons, up from the same period in 2011,
in which production reached 295,000 tons.

According to a Panhellenic Confederation of Unions of Agricultural
Cooperatives (PASEGES) report, based on agriculture ministry data, local
consumption of olive oil over the last three years was roughly 230,000
tons per year. Consumption has posted a 20,000-40,000 ton decline due
to the economic crisis and consumers' turn to cheaper oils.

Olive oil exports reached 100,000 tons and the prospects are very
encouraging. Greek olive oil is exported to Italy, Germany, USA and
Canada, while China and Russia are among the important emerging markets
for Greek olive oil.

The wholesale price per kilo in the current period will rise to 2.4
euros/kilo in comparison with the same period in 2011, when it fell to
1.85 euros/kilo.

[29] Folli Follie registers rise in sales, revenues for Jan.-Sep. 2012

Folli Follie, a manufacturer and distributor of jewellery, watches and
fashion accessories operating in 25 countries, posted an increase in
sales and revenues for the January-September this year, the company
announced on Thursday.

Sales were up by 8.5 percent, to 841.5 million euros, more than 77.5
million euros for the same period last year. Gross revenues increased by
8.6 percent to 417.5 million euros. Operational revenues reached 151.9
million euros over 142.7 million euros last year, showing an increase
of 6.4 percent.

Pre-tax revenues reached 114.2 million euros over 103.7 million in 2011,
an increase of 10.2 percent year-on-year. EBITDA reached 171.9 million
euros, an increase of 6.9 percent, with a margin of 20.4 percent over
20.7 percent for the same period last year.

Increases were registered in sales of the jewellery, watches and
accesories sector (18.5 percent, or 430.5 million euros) and in
Travel Retail (5.1 percent or 240.8 million euros), while a decrease
was registered in sales in multi-stores/malls (by 4.7 percent to 89.5
million euros) and in the wholesale/retail clothing and shoes sectors
(by 8.6 percent to 77.7 million euros).

[30] Business Briefs

-- The Thessaloniki Port Authority on Thursday reported a spectacular
75.58-pct increase in its nine-month profits, saying its turnover rose
7.73 pct in the January-September period, evidence that the city's
port remained productive despite a serious economic crisis and a deep
recession hitting the country.

-- Quest Holdings on Thursday said sales fell 10 pct to 202.8 million
euros in the January-September period, down from 225.8 million euros in
the corresponding period last year.

-- Production costs by Greek manufacturing enterprises grew 4.0 pct
in October this year, reflecting higher electricity prices and higher
tax burdens.

-- Ellaktor Group on Thursday said its after tax and minorities earnings
totaled 9.02 million euros in the January-September period, after losses
of 36.23 million euros in the same period last year.

-- Viohalco Group on Thursday reported a loss of 39.1 million euros,
or 0.1959 euros per share, in the January-September period, after losses
of 25.1 million euros, or 0.1258 euros per share, in the corresponding
period last year.

-- Sanyo Hellas Holdings on Thursday said consolidated turnover fell
to 7.6 million euros in the January-September period, down from 11.6
million euros in the corresponding period in 2011.

[31] Stocks end down on Thur.

Stocks ended lower at the Athens Stock Exchange on Thursday, unable
to hold on to their initial gains as investors preferred to take
profits. Traders said market sentiment remained nervous ahead of
government decisions over a Greek debt buy back programe.

The composite index of the market fell 0.80 pct to end at 816.16 points,
off the day's lows of 813.48 points. The index was up 1.75 pct early in
the session. Turnover was a thin 52.64 million euros.

The Big Cap index fell 0.53 pct and the Mid Cap index dropped 2.07
pct. The Commerce (2.97 pct), Travel (0.53 pct) and Oil (0.41 pct)
sectors scored gains, while Technology (4.19 pct), Telecoms (2.79 pct)
and Constructions (2.49 pct) suffered losses. Cyprus Popular Bak (8.33
pct), Folli Follie (3.0 pct) and Cyprus Bank (2.68 pct) were top gainers
among blue chip stocks, while MIG (3.55 pct), National Bank (2.80 pct)
and OTE (2.78 pct) were top losers.

Broadly, decliners led advancers by 74 to 63 with another 20 issues
unchanged. Progressive (29.59 pct), Sato (18.18 pct) and Kreka (15 pct)
were top gainers, while Fieratex (29.75 pct), Nutriart (18.68 pct)
and Kathimerini (16.92 pct) were top losers.

Sector indices ended as follows:

Industrials: -1.14%

Commercial: +2.97%

Construction: -2.49%

Oil & Gas: +0.41%

Personal & Household: +0.36%

Raw Materials: -0.83%

Travel & Leisure: +0.53%

Technology: -4.19%

Telecoms: -2.79%

Banks: +0.20%

Food & Beverages: -0.88%

Health: +1.10%

Utilities: -1.26%

Financial Services: -2.10%

The stocks with the highest turnover were National Bank, Alpha Bank,
OPAP and Bank of Piraeus.

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

Alpha Bank: 1.57

Public Power Corp (PPC): 4.53

HBC Coca Cola: 17.55

Hellenic Petroleum: 6.50

National Bank of Greece: 1.39

EFG Eurobank Ergasias: 0.69

OPAP: 5.04

OTE: 3.84

Bank of Piraeus: 0.37

Titan: 12.85

[32] Greek bond market closing report

The yield spread between the 10-year Greek and German benchmark bonds
fell to 14.94 pct in the domestic electronic secondary bond market on
Thursday, with the Greek bond yielding 16.31 pct and the German Bund
1.37 pct. Turnover in the market totaled 6.0 million euros, of which
5.0 million were buy orders and the remaining 1.0 million euros was a
sell order.

In interbank markets, interest rates were largely unchanged. The 12-month
rate was 0.58 pct, the six-month rate was 0.35 pct, the three-month rate
was 0.19 pct and the one-month rate was 0.10 pct.

[33] ADEX closing report

The December contract on the FTSE 20 index was trading at a premium of
1.41 pct in the Athens Derivatives Exchange on Thursday, with turnover
remaining a low 13.897 million euros. Volume on the Big Cap index totaled
4,174 contracts worth 6.104 million euros, with 30,548 open positions
in the market.

Volume in futures contracts on equities totaled 51,963 contracts worth
7.793 million euros, with investment interest focusing on National
Bank's contracts (19,313), followed by Alpha Bank (13,816), Piraeus Bank
(6,999), Cyprus Bank (1,913), OTE (1,250), OPAP (1,512), Cyprus Popular
Bank (1,244), Eurobank (2,300), GEK (843), PPC (815), Ellaktor (310),
Intralot (786) and Mytilineos (389).

[34] Foreign Exchange rates - Friday

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

U.S. dollar 1.318

Pound sterling  0.822

Danish kroner  7.572

Swedish kroner  8.766

Japanese yen  108.32

Swiss franc  1.222

Norwegian kroner  7.460

Canadian dollar  1.307

Australian dollar  1.261

General News

[35] Research in 'Antikythera Wreck' area

The site of the Antikythera wreck was re-established during underwater
archaeological studies conducted between 1-18 October by the Underwater
Antiquities Ephorate with the cooperation and technological support of
the Woods Hole Oceanographic Institution (WHOI), the largest oceanographic
institution in the US.

The studies focused on an archaeological review of the sea area of
Antikythera island and the location of antiquities as well as the
substantiation and re-establishment of the precise site of the famous
'Antikythera Wreck'.

Intact and broken amphorae were found as well as ceramic items, as well
as sections of the vessel's lead anchor, impressive that are indicative
of how the ship sank.

The wreck of the ancient cargo ship was discovered off Antikythera Island
at a depth of 42 m (138 ft) before Easter 1900, by Elias Stadiatis,
a Greek sponge diver.

[36] Virtual art guiding tour at New Acropolis Museum

The New Acropolis Museum will host the work of performing artists working
utilising a "virtual reality" environment in an alternative museum tour
called "Symphony of a Missing Room", held between Dec. 7 and 13.

The performance is part of the international MIRfestival, which supports
new artists combining performance arts and new audiovisual media to
offer an alternative way of experiencing the arts.

Swedish artists Christer Lundahl and Martina Seitl focused on transforming
a tour of the New Acropolis Museum into an exploration of visitors'
relationship with the arts.

The artists will give five performances a day from Friday, Dec. 7 until
Thursday, Dec. 13, except for Monday, Dec. 10, a day the museum is
closed. Admission is free, but phone reservations are necessary.

[37] Noted linguist details similarities between Doric Greek, ancient
Macedonian in Melbourne lecture

MELBOURNE (AMNA / S. Hatzimanolis)

Noted linguist, lexicographer and academic Giorgos Babiniotis on Tuesday
presented here research detailing how the ancient Macedonians had shaped
a Greek dialect based on the structure of the Doric dialect, best known
as the form of Greek spoken by the Spartans, among others.

Prof. Babiniotis told an audience at the University of Melbourne that
the ancient Macedonians used this dialect in spoken form, by ordinary
people, while the Attic Greek dialect was used by the kingdom's royalty,
such as King Philip II, in a bid to unify the rest of Greece, as proved
by thousands of inscriptions unearthed over the decades by archaeologists.

According to research launched in the early 20th century by German and
British linguists, there are roughly 250 words, mainly nouns, found
in texts dating from Homer's and Herodotus' eras that were identified
by commentators in antiquity as originating from the ancient spoken
Macedonian dialect.

Babiniotis also emphasised that there was no "single ancient Greek
language", but four main dialects, each used in the written literature
of different eras. The Attic dialect replaced them after 480 BC.

Babiniotis also touched on a decidedly contemporary political difference,
whose aspects have often included "antique" references, stressing that
the Bulgarian-Serb language spoken in the former Yugoslav Republic of
Macedonia (fYRoM), the landlocked ex-Yugoslav republic that mostly lies
to the north of where historical and geographical Macedonia is located,
stressing that "we respect the language, history and traditions of the
people in the neighbouring country. However, it is obvious, based on what
I have already said, that the term 'Macedonian' they use to name their
language causes confusion and is historically and culturally unacceptable.

"Based on the analysis already made it has absolutely no relation with
the (ancient) dialect of the Macedonians."

The lecture was given in English at the university's Wright Theatre.

[38] Vovos released on bail after testimony for overdue state debts

Greek businessman Babis Vovos was released on bail and forbidden to
leave the country after testifying before an examining magistrate for
not paying outstanding debts to the state on Thursday.

Vovos did not deny the debts referred to in the case, amounting to 1.1
million euro, but claimed that 503,000 euro of that sum concerning taxes
on wages was not overdue. He claimed that the particular portion of the
debt would become finally due in about a month and that he intends to
take steps to secure a settlement before that time.

The magistrate and public prosecutor handling the case agreed that Vovos
should be released after posting 100,000 euro in bail and banned from
leaving the country.

[39] Cancer patient at hospital placed under arrest for illegal migration

A foreign cancer patient that sought treatment at the 'Agioi Anargyroi'
Hospital was placed under arrest after the hospital's management reported
her for lacking legal residence documents, the hospital doctors' union
reported on Thursday.

The patient had been transferred from the Metaxa Cancer Hospital to
undergo a major operation, which was performed and paid for by her
relatives because she was not insured.

But the hospital governor then reported her to police for lacking valid
documents allowing her to be in Greece, so that the seriously ill patient
was now being treated under guard.

The action prompted the intervention of Deputy Health Minister Fotini
Skopouli, who asked Public Order Minister Nikos Dendias to remove the
police from the hospital and received assurances that the matter will
be dealt with using the "required care and humanitarian approach".

[40] Authorities intercept illegal consignment of copper

Greek authorities on Thursday intercepted a truck with Bulgarian license
plates carrying an illegal consignment of copper at Igoumenitsa port,
following a check conducted by teams attached to the Epirus financial
crimes squad (SDOE) regional branch.

Because there were strong indications that the illegal load might be
made up of stolen goods, it was confiscated and an agreement made the
Igoumenitsa public prosecutor to conduct further investigation.

[41] Olympic Games Museum exhibits to return on Sunday

Artifacts and exhibits stolen from the Museum of the History of the
Olympic Games at Ancient Olympia in February will be returned to the
museum on Sunday and allow its collection to be presented complete, the
Education, Religions, Culture and Sport ministry announced on Thursday.

Weather forecast

[42] Rainy on Friday

Rainy weather and southerly winds are forecast in most parts of the
country on Friday. Winds 3-8 beaufort. Temperatures between 7C and
21C. Rainy in Athens with southerly 6-7 beaufort winds and temperatures
between 14C and 20C. Cloudy in Thessaloniki with temperatures between
12C and 19C.

The Thursday edition of Athens' dailies at a glance

The Cabinet meeting and Prime Minister Antonis Samaras' orders to his
ministers, the anticipated regulation for the settlement of overdue
debts and the race for the bonds buy-back, dominated the headlines on
Thursday in Athens' newspapers.

AVGHI: "The 'solution' a bubble - New looting of the social security
funds".

DIMOKRATIA: "Asphyxiation: Memorandum in every ministry"

ELEFTHEROS TYPOS: "Regulation 'breather' for debts to Tax Bureau".

ESTIA: "Channel of optimism".

ETHNOS: "7 bln euros list".

IMERISSIA: "Battle for the bonds".

KATHIMERINI: "Plan for liquidity in the market".

LOGOS: "The difficult stuff starts now".

NAFTEMPORIKI: "New favourable regulation for the overdue debts".

RIZOSPASTIS: "They escalate the massacre of the people".

TA NEA: "The 'Herod' tax (abolition of tax deduction for families with
children) divides the government".

TO PONTIKI: "Lies in installments".

VRADYNI: "Pensions: All the changes for the professionals".

6 DAYS: "Government leaves the social security funds without a cent".

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