[ana-dist] Athens News Agency: Daily News Bulletin in English, 12-12-13

HR-Net News Distribution Manager dist at hri.org
Thu Dec 13 17:58:02 EST 2012


Thursday,  13  December  2012          Issue No: 4246

CONTENTS
[01] Greece says debt buy-back programme offers total 31.9 bln euros
[02] Eurogroup to decide on the release of aid tranche to Greece
[03] Germany favours release of aid tranche to Greece
[04] Debt buyback missed target, main opposition SYRIZA asserts
[05] Tax bill to be tabled in parliament on Friday
[06] SYRIZA presents taxation system proposals
[07] Kammenos: Memorandum forces trying to find MPs
[08] KKE leader meets OKANA drug rehab staff, stresses risk of
      'private-sector intrusion'
[09] Papariga demands explanations by gov't on PPC rates hikes
[10] President Papoulias receives Agricultural Development Minister
      Tsaftaris
[11] BoG chief: Economy could recover even sooner than predicted
[12] Greek banks recapitalization will not directly boost liquidity in
      market, BoG governor
[13] EC Task Force chief: A lot of money has been given to Greece,
      but much more is needed to boost liquidity, as well as more reform efforts
[14] Support for real economy a priority, Development minister tells
      'Der Handelsblatt'
[15] New measures by Dev't ministry to aid company start ups and
      competition
[16] Greece-China business conference at Athens Chamber of Commerce
      and Industry
[17] Greek authorities approve terms of final phase in OPAP tender
[18] OPAP-led consortium wins state lotteries management for 12 years
[19] Greek agricultural income down 2 percent in 2012, Eurostat
[20] Port of Piraeus has changed greatly since Cosco's arrival
[21] Work on highways to resume in April, Development minister announces
[22] Association of SA-LTD firms optimistic on new investments in Greece
[23] New soft packaging facility operates in Komotini's BIPE
[24] Business Briefs
[25] Greek stocks end flat on Wed.
[26] ADEX closing report
[27] Greek bond market closing report
[28] Foreign Exchange rates - Thursday
[29] Christmas season inaugurated in Athens
[30] Parliament honours Greek Olympic champions
[31] Hellenic Olympic Academy member Dionyssis Gangas honoured
[32] Klimaka presents survey on 'profile' of new Athens homeless
[33] Universities complete electronic elections for administrative boards
[34] Court orders seizure of suspects' assets in Proton Bank bad
      loans case
[35] Court of Audit judges to extend labour action until Jan. 23
[36] Angry pharmacists warn that further strikes are imminent
[37] Municipal employees to strike Thursday, Friday
[38] IKA doctor given jail sentence for accepting bribes
[39] Two killed in ambulance road accident
[40] Mostly fair with low temperatures on Thursday
[41] The Wednesday edition of Athens' dailies at a glance
---------------------------------------------------------------------------
Politics

[01] Greece says debt buy-back programme offers total 31.9 bln euros

The Greek authorities on Wednesday said they have received offers worth
31.9 billion euros in a book-building process of a debt buy back programme
which ended on Tuesday.

Greece's Public Debt Management Organization, in a statement, said that
the offered bonds were secured with six-month securities, worth 11.29
billion euros, of the European Financial Stability Fund (EFSF), while
the average repurchase price was set at 33.8 cents per euro nominal
value of the Greek bonds.

The statement stressed that the Greek state plans to accept the offers
in total if the EFSF agreed to raise its funding of the programme by
1.29 billion euros. Settlement date is set for Tuesday, 18 December.

[02] Eurogroup to decide on the release of aid tranche to Greece

BRUSSELS (AMNA/V.Demiris)

The European Commission expects that a decision on the release of an
aid tranche to Greece will be reached during Thursday' s Eurogroup,
a Commission spokesman said here on Wednesday.

Simon O'Connor, spokesman for EU Commissioner Olli Rehn, declined to
comment on the outcome of a Greek debt buy back programme, however,
the details of which were examined during Tuesday's Eurogroup's
teleconference.

[03] Germany favours release of aid tranche to Greece

BERLIN (AMNA/F.Karaviti)

The German government is in favour of releasing the next tranche of an
aid loan to Greece following the successful outcome of a Greek debt
buyback programe, German Finance Minister Wolfgang Schaeuble said in
a letter to the German Parliament, according to a Reuters report from
the German capital. The letter stressed that amendments made in a Greek
rescue programe and the success of a debt buyback programe meant that
the stability level of the Greek public debt was such that "the German
government favors the release of the next tranche to Greece".

[04] Debt buyback missed target, main opposition SYRIZA asserts

The debt buyback has missed its targets and evolved into a "farce" whose
only purpose was to keep the ailing government of draconian austerity
cuts and overtaxation "on its feet", main opposition 'Coalition of the
Radical Left' (SYRIZA) asserted on Wednesday.

According to the head of the party's economic policy brief Yiannis
Milios, the book building process for the bond buyback ended without the
government reaching its debt reduction targets. "Furthermore, in order
to meet the offers, the sum that Greece must have at its disposal for
the buybacks has increased by 1.29 billion euro".

Milios claimed that bond buybacks were in any case problematic as a
way of reducing debt but the manner in which it was implemented by the
government was such that it did not even meet its already humble targets.

"In spite of this, on Thursday it will most likely be considered
'successful' with the addition of certain measures for the extra one
billion needed," he added, noting that the sooner the current government
fell the better it would be for the productive reorganisation of the
country, to be carried out by SYRIZA "with the social majority".

[05] Tax bill to be tabled in parliament on Friday

The new tax bill will be tabled in parliament on Friday, according to
Finance Ministry's new programme.

Finance Minister Yannis Stournaras will present the main articles of
the draft law to his eurozone counterparts during the Eurogroup meeting
on Thursday.

[06] SYRIZA presents taxation system proposals

The new draft bill on taxation is "just another 'memorandum freak'
designed to loot the incomes of the weakest and medium classes and
benefit the strongest," main opposition SYRIZA leftist party charged in a
statement issued on Wednesday, in which it presents its own axes on which
"a socially fair and redistribution-centered tax system should be based."

Specifically, SYRIZA proposes the following taxation basics:

Creation of a property register, to allow for fair taxation.

The level of personal income tax allowance should be determined each
year in accordance to the respective poverty limit (for 2013, it should
be at 12,000 euros).

Raising tax revenues from Legal Entities at the Eurozone average.

Abolition of special tax regimes (Special Economic Zones, Fast Track,
etc.) and provocative tax exemptions.

Introduction of special, increased tax rates for banks.

Changing the ratio between direct and indirect taxes. Boosting revenues
from fair direct taxes and reduction of indirect taxes.

Reduction of the highest VAT rate of 23 percent.

Introduction of tax on large property.

Abolition of all unfair and socially brutal harsh taxes, such as the
one collected by the PPC and the solidarity levy.

Protection of low and medium incomes against tax office debts.

[07] Kammenos: Memorandum forces trying to find MPs

Independent Greeks leader Panos Kammenos charged on Wednesday that "some
(party members) wanted to change the nature of the movement (party)
and turn it into a center-right party", referring to resignations from
his party on Tuesday.

In a statement on private Antenna television station on Wednesday morning,
Kammenos added that "the forces of the

Memorandum are trying to find MPs," and when asked if the scenery was
rigged, he replied that "the next hours will tell".

A third high-profile member of the Independent Greeks party resigned late
Tuesday, as an ongoing crisis in the small opposition party continued,
with Dimitris Stamatis tendering a written resignation following a verbal
resignation after a joint meeting of the party's steering committee and
parliamentary group.

His resignation followed that of party spokesman Christos Zois, which
was accepted by Kammenos, and the stated intention to resign by Yannis
Manolis earlier in the day.

All three are former New Democracy MPs.  Stamatis and Zois were expelled
by ND's Ethics Committee in February after they defied the ND policy
line and voted against the new Memorandum in parliament, while Manolis
had been expelled from ND for an anti-party attitude.

The three subsequently joined the Independent Greeks party, were elected
to parliament on the party ticket in the May general elections but did not
make it into the 300-seat House in the repeat general elections in June.

In a written statement, Stamatis reiterated "to every Greek citizen" his
"steadfast position against the memorandum and in favor of the principles
of the large Center-Right and the ideology of social liberalism".

"I will continue my struggle as a Greek citizen for the principles of the
founding declaration of the United Europe and the Europe of the peoples. I
will continue my struggle for European solidarity, the common currency and
the prosperity of the peoples, and against the arrogance of politicians
and the incidental transformation of policies every time it suits them,"
Stamatis said.

Kammenos, speaking on Antenna, denied as a "fairytale" Manolis'
allegations of the existence of a non-paper appearing in the press
after his meeting with the President of the Republic in May -- during
the process of mandates to the three top vote-getting parties to try to
form a cooperation government after the inconclusive general elections
-- according to which he intended to give a vote of tolerance to a
cooperation government.

He said he was surprised by Zois' resignation, clarifying that Zois has
resigned from the post of party spokesman but has not left the party
while Zois, speaking on private SKAI television on Wednesday, stressed
that he will not return to ND. "I was expelled from ND for my views. I
have not changed views, others have," he said.

Kammenos further said that the Independent Greeks are open to
collaboration with the Left, the Center and with all citizens who agree
with the party's positions.

Asked if there was a prospect for collaboration with main opposition
SYRIZA, Kammenos said that before the elections there had been agreement
with respect to abrogation of the Memorandum, but "SYRIZA had changed
position", adding that another condition for any possible cooperation
is the country's national issues.

[08] KKE leader meets OKANA drug rehab staff, stresses risk of
'private-sector intrusion'

Communist Party of Greece (KKE) General Secretary Aleka Papariga on
Wednesday expressed her party's support for the demands and aims of
workers at Greece's OKANA drub rehabilitation centres, following a
meeting with the OKANA staff union board held at her party's headquarters
in Perissos.

She stressed that cutbacks in state funding for drug rehabilitation
centres undermined the programmes for drug users and increased
the insecurity of the workforce in terms of both their salary
and job security. Primarily, however, they opened the way for the
intrusion of private clinics and business people in the sector of both
drug-substitution or even 'dry' programmes and for those "seeking to
exploit people in tragic circumstances and working-class families willing
to give any amount to save their children," she added.

[09] Papariga demands explanations by gov't on PPC rates hikes

Communist Party of Greece (KKE) leader, Aleca Papariga on Wednesday
tabled a question in Parliament regarding the new hikes to be applied in
the new year in electricity bills by the Public Power Corporation (PPC).

Papariga, who wants the Prime Minister Antonis Samaras to explain his
government's position on the issue, says that the big increases are
part of the government's policy to make the PPC more profitable and
attractive to potential investors, "in the framework of plans to speed
up the liberalisation of the energy market and to privatise the PPC."

[10] President Papoulias receives Agricultural Development Minister
Tsaftaris

Agricultural Development and Food Minister Athanasios Tsaftaris was
received on Wednesday by President of the Republic Karolos Papoulias,
following an invitation to brief the president on his ministry's
priorities and actions on stimulating the rural sector and setting the
primary sector as a growth pylon.

Papoulias was especially interested in developments in livestock raising
and in the increasing number of urban residents returning to the province
and taking up rural activities.

Financial News

[11] BoG chief: Economy could recover even sooner than predicted

The materialisation of the "prior actions" of the loan agreement, the
disbursement of the loan tranche and the lightening of the debt are
positive developments that create grounded expectations that the Greek
economy will be able to recover, and "perhaps even sooner that predicted
today," central Bank of Greece (BoG) governor George Provopoulos told
parliament's standing committee on the economy on Wednesday.

Presenting the central bank's interim report on the 2012 monetary
policy, Provopoulos called recover and a return to growth "a national
priority", setting out as conditions the abolition of the uncertainty
over Greece's place in the euro zone, the completion of a national
plan for the transition to a new developmental model, given that the
Memorandum contains on the minimum conditions that ensure continuation
of the financial support and the advancement of structural reforms that
will eliminate the causes of the twin deficits.

He said the chief targets of the effort to hasten recovery should be
the immediate implementation of measures conducive to a re-start of
the economy (acceleration of absorption of NSRF programmes, utilization
of the European Investment Bank's financing tools and the re-start of
construction of major road arteries), restoration of smooth liquidity
conditions with the recapitalization of the banks, immediate improvement
of the efficiency of public administration through simplification of the
legislative and regulatory framework, a steady tax regime with reduction
of the tax burden, and acceleration of the denationalizations.

Particularly regarding the banking sector, Provopoulos noted that the
sector continues face unprecedented challenges in liquidity and capital
adequacy due to the crisis that has hit the country. In that context,
completion of the recapitalization and reorganization of the banking
system are crucial reforms, as an increase in the banks' own capital
will boost the domestic depositors' and international money markets'
confidence in the banks.

On the recession, Provopoulos described is "historically unprecedented
for the Greek economy in times of peace, with substantial repercussions
not only on incomes but also the production dynamic and social cohesion".

However, the fiscal adjustment has resulted to date in a major reduction
of the deficits and recovery of 72 percent of the international
competitiveness lost during the period 2001-2009, he continued, opining
that the progress in structural reforms over the past two-and-a-half
years are not negligible, given indications that exist of a correctional
adjustment of basic indicators, which he said is the beginning for
balancing and restructuring the economy (reduction of the current
accounts deficit, reduction of the labor cost per unit of production,
reduction of inflation, etc.).

"Despite the delays, the progress that has been made in important sectors
is tangible and measurable. Despite the dangers and the continuing
recession, the economy is changing. With the first clear indications that
we are distancing ourselves from practices of the past and a new strategy
is being forged for the future, the climate can be reversed quickly and
the conviction can be consolidated that the end of the recession is on
the horizon. This will be the first substantial step for a new course
of growth," Provopoulos concluded.

[12] Greek banks recapitalization will not directly boost liquidity in
market, BoG governor

A recapitalization of Greek banks will not lead directly to a boost in
liquidity in the market, but will enhance the banks'  image in the eyes of
depositors so that they return their savings and allow a gradual return
to international markets, Bank of Greece governor George Provopoulos
said on Wednesday.

Addressing a Parliamentary Economics Commission while presenting the
central bank's interim report on monetary policy in 2012, the Greek
central banker warned that if there were delays in implementing structural
reforms, the impact would be harder than anything else until today.

"Following a recapitalization of banks there will be a huge respite of
liquidity. But not through funding. As a result of there being a better
picture for banks in the eyes of depositors, I hope that saving deposits
will recover. Greek banks, being well capitalized and strengthened,
will be able to gradually approach international capital markets again,"
Provopoulos said.

Several deputies expressed concern and objected to the central banker's
comments, saying that the domestic market desperately needed new money
to operate and to help the economy exit its current deep recession.

Provopoulos defended a fiscal adjustment programme and rebuffed criticism
by deputies that the troika failed in its policy because of making wrong
estimates. "No! The programme was implemented in the wrong way and as
long as it does not work properly, the danger remains," the central
banker said, adding that "the programme is based on fiscal restructuring
and structural reforms, but we failed to implement structural reforms."

[13] EC Task Force chief: A lot of money has been given to Greece,
but much more is needed to boost liquidity, as well as more reform efforts

The biggest blame for the explosion of unemployment in Greece should
be sought in the country's inadequacies, and only one-third in the
international crisis, state-run Manpower Employment Organization (OAED)
director Elias Kikilias told an event titled "Building a new Greece"
in Athens on Tuesday night.

Kikilias noted that in the period when growth in Greece was 4 percent,
unemployment had been at 15 percent and unemployment among young people
at 30 percent.

He said that in the period 1990-2007, the country's working-age population
grew by 7 percent due to migration. At the same

time, the number of university graduates and post-graduate degree holders
doubled, which meant 400,000 more than the demand on the job market,
while workers with a lower education level declined, meaning 340,000
fewer than the demand.

He added that career and technical orientation was downgraded in Greece,
noting that the Education Ministry has no career orientation department.

With a cumulative recession of 25 percent, an average European country
would have an unemployment rate of 30-35 percent, whereas thanks to the
OAED programmes, unemployment in Greece has been contained by at least
five percentage points.

European Commission Task Force for Greece chief Horst Reichenbach noted
the similarities in the assessment of the situation in the former East
Germany after its unification with the then West German and the policies
being applied in Greece, responding to a question at the same event.

Reichenbach said that a lot of money has been given to Greece, but much
more is needed to boost liquidity, as well as more reform efforts.

"When the Wall fell, then Chancellor Kohl had predicted that very soon
the picture of the landscape will be very different. Despite the fact that
significant changes were made to administration and a lot of capital was
invested, unemployment in eastern Germany remains at high levels today,
Reichenbach said, also noting great difficulties in denationalizations.

Reichenbach noted the efforts made by the Task Force to boost financing,
mainly of small and medium size enterprises (SMEs) and the needed changes
in public administration in order to deal with bureaucracy and corruption.

[14] Support for real economy a priority, Development minister tells
'Der Handelsblatt'

BERLIN (AMNA - F. Karaviti)

Staying "afloat" and supporting the real economy must be Greece's top
priority at the present time, Greek Development, Competitiveness,
Infrastructure, Transport and Networks Minister Kostis Hatzidakis
stressed in an interview with the German newspaper "Der Handelsblatt"
published on Wednesday, one day before his scheduled visit to Berlin.

Hatzidakis admitted that unemployment and rising poverty in Greece
were his main worries, adding that the government was making efforts
to support the weakest social groups to the extent that the restricted
budget and the cuts to government spending allowed, while concentrating
its efforts on the recovery of economic growth.

"We are sailing in a storm with a strong wind of 10 Beaufort. The first
thing we had to do is not capsize. So far we have been able to avoid
this...Now we must do everything we can to support the real economy,"
he said.

According to Hatzidakis, a lack of liquidity in the Greek market was the
first problem that had to be solved and the upcoming bank recapitalisation
would play a key role in this direction.

During his meeting on Thursday with German Economics Minister Philipp
Roesler, Hatzidakis said he intended to convey the Greek government's
determination to do everything necessary for the country to make progress
and fulfill the expectations of Greece's European partners.

In response to questions about why someone would want to invest in Greece
at this time, the minister emphasised that Greece was close to "getting
back on its feet" and had carried out significant structural reforms,
creating a business friendly environment.

"The taxation system is being simplified to a great degree and foreign
investors will also benefit from this. In addition, there is close
cooperation with the European Commission Task Force in tackling graft,"
he pointed out.

He highlighted sectors such as tourism, energy and organic farming
as highly promising for potential investors, while adding that the
government will make every effort to make up for lost ground in terms
of privatisations.

The minister referred to 29 privatisation plans now underway, starting
with those for the Public Gas Corporation and the OPAP state lottery and
football pools company and continuing with ports, airports, real estate,
post offices and the railways.

"2013 will be the year of privatisations," he told the newspaper,
while stressing that the government's job was to ensure that the right
conditions for investments.

[15] New measures by Dev't ministry to aid company start ups and
competition

A new legislative arrangement announced on Wednesday evening by the
Ministry of Development, Competitiveness, Infrastructure, Transports and
Networks provides for a reduction in the amount of the minimum capital
requirement for starting up an SA and limited liability companies to
24,000 euros, from the current 60,000 euros and to 2,400 euros from
4,500 euros, respectively.

It also stipulates the abolition of compulsory registration with chambers
for business, as of January 1, 2015, while private school tuition fees
are liberated as of January 1, 2013.

The measures, according to the ministry, are envisaged to facilitate the
establishing of new companies, cost reduction and boosting competition.

As shown in a World Bank study, Doing Business 2013, the cost of
establishing new companies in Greece accounts for 20.5 percent of GDP
per capita, compared with the average 4.5 percent in OECD nations.

[16] Greece-China business conference at Athens Chamber of Commerce
and Industry

Recent developments in Europe and on a national level have created a new,
more favourable climate for the penetration of Greek products in the
Chinese market, the head of the Athens Chamber of Commerce and Industry
(ACCI) Constantine

Mihalos said as he addressed a Greek-Chinese business conference taking
place at ACCI on Wednesday.

Mihalos, also head of the Central Union of Chambers of Greece, said that
faith in Greece had been restored and said Greece was carrying out all
necessary measures and reforms to improve the business environment in
the country, ending a state of uncertainty that existed in the previous
period. As proof of this, he cited recent decisions made by Greece's
European Union partners to continue to lend to Greece so that it might
quickly exit the crisis and return to growth.

In his speech, ACCI's president urged Greek and Chinese businesses to open
up new avenues of cooperation in areas such as shipping, shipbuilding,
tourism, infrastructure, commerce and technology.

An address was also given by China Council for the Promotion of
International Trade (CCPIT) Vice-Chairman Wang Jinzhen, who promised to
help promote greater acceptance of Greek products in Chinese markets and
invited the ACCI to bring Greek firms to participate in an international
conference to be held in China in April 2013, promising that the Chinese
side will do whatever is possible to promote Greek products.

Other speakers included the foreign ministry's general secretary for
international economic relations and developmental cooperation Panagiotis
Mihalos, China Shipbuilding Industry Co Ltd executive Sun Wei and the
head of Greece's 'Invest in Greece' unit Angeliki Mihalopoulou.

[17] Greek authorities approve terms of final phase in OPAP tender

Hellenic Property Asset Development Fund on Wednesday approved the terms
of the second and final phase of an international tender to sell 33 pct
of OPAP's equity capital and said that the highest financial offer will
be the exclusive criterion of evaluation in this phase of the tender.

The Fund's board approved also the beginning of a tender procedure for
the exploitation of 28 real estate property assets through a sale and
lease back method. The board also agreed to launch an international
bidding tender for the sale of six state properties abroad, four
consulate houses in London, Belgrade, Taskent and Ljubljana, Greece'
s Permanent Representation premises in Brussels and a land property in
Nicosia, Cyprus.

[18] OPAP-led consortium wins state lotteries management for 12 years

An OPAP-led consortium won an international tender to operate Greek
state lotteries for the next 12 years, after the Hellenic Property Asset
Development Fund accepted an improved offer by the consortium.

The Fund, in a statement released on Wednesday, said that the deal will
bring a total of around 1.5 billion euro to state coffers in the 12-year
period, around 125 million euro per year. It also said that the state's
earnings from the operation of state lotteries were aroud 80 million euro
in 2010, falling to around 60 million euro in 2011 and 2012. The agreement
is pending ratification by the Parliament (March 2013) and the consortium
is expected to begin operation of state lotteries six months later.

The consortium is comprised of OPAP Investment Ltd, Lottomatia Giochi e
Partecipazione Srl, Intralot Lotteries Ltd and Scientific Games Global
Gaming Sarl.

Credit Suisse Securities Europe Ltd and Eurobank Equities acted as
financial advisers to the Hellenic Property Asset Development Fund.

[19] Greek agricultural income down 2 percent in 2012, Eurostat

BRUSSELS (AMNA/V. Demiris)

Agricultural income fell by 2.0 percent in Greece in 2012, compared
with 2011, Eurostat said on Wednesday. The EU executive' s statistics
arm, in a report published here, said that agricultural income in the
country rose by 3.2 percent in 2012, compared with 2005, while in the
EU-27 agricultural income jumped 29.7 percent over the same period.

Eurostat said that agricultural income grew in 16 EU member-states while
another 11 states recorded a decline. Belgium (+30 percent), Holland
(+14.9 percent), Lithuania (+13.6 percent) and Germany (+12.1 percent)
recorded the biggest percentage increases in the 2005-2012 period,
while Romania (-16.4 pct), Hungary (-15.7 pct) and Slovenia (-15.1 pct)
the biggest percentage declines.

In the EU27 real agricultural income per worker has increased by 1.0
percent in 2012, after an increase of 8.0 percent in 2011, according
to first estimates issued by Eurostat. This increase was the result
of a rise in real agricultural income (+0.5 percent), together with a
reduction in agricultural labour input (-0.5 percent).

[20] Port of Piraeus has changed greatly since Cosco's arrival

The commercial port of Piraeus, as you approach it from Perama, has
radically changed over the last three years and the works carried out
by the Chinese giant Cosco are visible, even to the most disbelieving,
and Cosco's vision to turn Piraeus into the "Singapore of Europe" is
progressing, and when the tracks of the rail network access are completed,
the container traffic is expected to become more intense.

The picture of Greece's largest port is recorded in a television report
by George Kouvaras on the AMNA Web TV portal, which has commences
specialised high-standard production services that are addressed to
television networks and informational websites.

"We consider the port of Piraeus very important, as it is in a very good
location among the Far East, the Mediterranean and Europe," the Chinese
giant's chief executive of the Piraeus Cargo Terminal, Captain Fu Cheng
Qui Fu, told AMNA, adding that "20 of the largest shipping lines reach
the terminal station".

The rail network that would unite Piraeus with the Thriassian Plain should
have been completed in 2005, but the works have delayed. Their completion
could give a big boost to the terminal station and is considered of great
importance for the business world. Indicative is Cosco's recent agreement
with Hewlett Packard and TrainOSE to use Cosco's cargo terminal in the
port of Piraeus as a hub to distribute the electronics giant's products
in central Europe, Middle East, North Africa, the eastern Mediterranean
and eastern Europe.

"If the train reaches the terminal station, there will be rapid growth,"
Captain Fu says, adding that "we will be directly linked with very many
directions and enterprises in Europe and this will give impetus to the
terminal station in Piraeus."

Shipowner Nicos Vernicos is one of the staunchest supporters of Cosco's
presence in Piraeus. "We hired Greek seamen, to, who continue to be
paid without any reduction in salary," he said, adding that he sees big
prospects for the port of Piraeus.

Asked how grounded are concerns that with a minor intervention the
Chinese products will, from "made in China" be labeled "made in Europe"
with a loss in taxes resulting, Vernicos replied that this depends on
the legislation and it is at the disposition of each government to apply
it. If there are rules that stipulate the percentage of added value and
these rules are adhered to "I have no fear", he said.

Today, the slogan "Cosco Go Home" is no longer heard in Piraeus, however
the representatives of the Piraeus Port Authority (OLP) maintain their
reservations on labor relations in Cosco's field.

The secretary of the Dockworkers' Union, George Gokos, told AMNA that
the employees working for Cosco via sub-contracting agreements are
paid much lower wages, whereas incomes have been cut by 35 percent at
OLP. Further, Nikos Markakis, who worked for Cosco via a Greek company,
said he was dismissed because he attempted to set up a workers' union.

A different perception exists in Cosco, however. "Cosco gave them a big
opportunity. Cosco is their future. Cosco has come to stay. The future
is brighter for the local economy," Captain Fu says.

Cosco's presence in the port of Piraeus is considered of key importance
for the attraction of business from the large multinationals. Piraeus
is becoming the hub of China's activity in Europe, and in 2012 it has
been evaluated as the largest container terminal, with a 98.4 percent
increase in merchandise moved.

Extensive excerpts from the audiovisual report have been uploaded on the
AMNA main webpage  ("http://www.amna.gr") and may be provided in greater
length, uncut and with High Definition specifications, or in any other
broadcasting format.

More information is available from AMNA's marketing department, at tel:
210-6405700.

[21] Work on highways to resume in April, Development minister announces

Work on major public projects such as highways is expected to be
resumed in April, according to an announcement made by Development,
Competitiveness, Infrastructure, Transport and Networks Minister Kostis
Hatzidakis on Wednesday.

Together with Alternate Development Minister Stavros Kalogiannis,
Hatzidakis announced that the ministry's negotiations with the
construction consortiums for five national highways were successfully
concluded on Wednesday, opening the way for the second phase of
negotiations with the banks and the European Commission that would
provide the funding.

The second phase of the negotiations is expected to be completed
in February, meaning that work on the new roads will start again in
April. He clarified that there would not be new contracts and that the
work contracted would remain the same.

He clarified, however, that for financial reasons and due to technical
problems that had arisen the Olympia Highway would initially only go
as far as Patras, while the remaining 20 percent of the project up to
Tsakona would be postponed until two or three years later. Similarly,
completion of the Trikala-Grevena section of the E-65 highway would be
postponed by two to three years.

The minister underlined, however, that all the projects would finally
be completed as they were initially planned, and that there would not
be any change in the agreed policy for road tolls.

[22] Association of SA-LTD firms optimistic on new investments in Greece

Commenting on a recent investment in Greece by tobacco giant Philip
Morris through its subsidiary Papastratos, in the western Attica region of
Aspropyrgos, the Association of SA and Ltd Companies said on Wednesday it
hoped that the development would serve as an example of a wise business
decision to be followed by other multinational companies wishing to move
their headquarters in Greece.

In a related statement, the association points to the fact that the new
Papastratos tobacco line would allow for the creation of valuable new
job positions, also contributing to state coffers.

It added that Papastratos decision to relocate all of its European
production activities to its Aspropyrgos facilities is especially hopeful
in stimulating the domestic sector of manufacturing. The Association
also noted that an attractive tax regime and stable political setting
may also help boost foreign investments in Greece.

[23] New soft packaging facility operates in Komotini's BIPE

A new soft packaging production facility for food, owned by Alfa Beta
Roto, has commenced operation again in the northern Komotini Industrial
Region (BIPE), as the largest part of a 27-million-euro investment has
been completed.

The plant, almost entirely destroyed by fire 15 months ago, can now
operate up to 80% of its production capacity, and it is expected to be
fully operative in about 18 months.

In the reconstruction of the plant, the management said, employees made a
significant contribution, while the firm received damages of just under
26 million euros from insurance companies.

[24] Business Briefs

-- The Hellenic Republic Asset Development Fund (HRADF) has accepted
a new improved offer by the consortium OPAP-Scientific Games-Intralot,
the bidder in an international tender for concession of the management
of Greek state lotteries.

[25] Greek stocks end flat on Wed.

Greek stocks ended flat in the Athens Stock Exchange on Wednesday as
strong buying interest for selective blue chips counterbalanced pressures
on bank shares, such as National Bank. The composite index of the market
rose 0.14 percent to end at 873.25 points, remaining on an upward trend
for the sixth consecutive session during which it has risen by 7.79
percent. Turnover was a moderate 66.431 million euros.

The Big Cap index ended 0.16 percent higher and the Mid Cap index
eased 1.48 percent. The Telecoms (3.75 percent), Personal Products
(3.08 percent) and Commerce (2.39 percent) sectors scored the biggest
percentage gains of the day, while Health (4.68 percent), Banks (2.35
percent) and Utilities (1.41 percent) suffered losses. Intralot (4.17
percent), Jumbo (3.99 percent) and OTE (3.75 percent) were top gainers
among blue chip stocks, while Cyprus Bank (3.56 percent), Piraeus Bank
(3.05 percent) and Terna Energy (2.42 percent) were top losers. Broadly,
advancers led decliners by 86 to 70 with another 15 issues unchanged. Alko
(30 percent), Pairis (29.88 percent) and Cyclon (24.53 percent) were top
gainers, while Kreka (17.82 percent), Spider (17.5 percent) and Pegasus
(15.03 percent) were top losers.

Sector indices ended as follows:

Industrials: +0.79%

Commercial: +2.39%

Construction: +1.07%

Oil & Gas: Unchanged

Personal & Household: +3.08%

Raw Materials: +0.90%

Travel & Leisure: +0.08%

Technology: -1.56%

Telecoms: +3.75%

Banks: -2.35%

Food & Beverages: -0.30%

Health: -4.68%

Utilities: -1.41%

Financial Services: +1.15%

The stocks with the highest turnover were OTE, OPAP, National Bank
and PPC.

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

Alpha Bank: 1.64

Public Power Corp (PPC): 5.48

HBC Coca Cola: 16.95

Hellenic Petroleum: 6.90

National Bank of Greece: 1.37

EFG Eurobank Ergasias: 0.69

OPAP: 5.52

OTE: 4.70

Bank of Piraeus: 0.38

Titan: 13.88

[26] ADEX closing report

The December contract on the FTSE 20 index was trading around its fair
value in the Athens Derivatives Exchange on Wednesday, with turnover
rising significantly to 42.346 million euros. Volume on the Big Cap index
totaled 18,281 contracts worth 27.984 million euros, with 36,929 open
positions in the market. Volume in futures contracts on equities totaled
56,755 contracts worth 14.362 million euros, with investment interest
focusing on National Bank's contracts (14,999), followed by Alpha Bank
(7,437), Piraeus Bank (5,931), Cyprus Bank (2,980), OTE (7,022), PPC
(4,252), OPAP (5,994), Cyprus Popular Bank (1,138), Mytilineos (1,243),
Eurobank (1,818), Intralot (950), GEK (684), Ellaktor (628) and MIG (323).

[27] Greek bond market closing report

The yield spread between the 10-year Greek and German benchmark bonds
shrank substantially to 10.57 pct in the domestic electronic secondary
bond market on Wednesday, from 13.75 pct on Tuesday, with the Greek bond
yielding 12.53 pct and the German Bund 1.96 pct. Greek bond prices soared
after the successful completion of a Greek debt buy back program. Turnover
was a low 8.0 million euros, of which 6.0 million euros were buy orders
and the remaining 2.0 million were sell orders.

In interbank markets, interest rates continued moving lower. The 12-month
rate was 0.55 pct, the six-month rate was 0.33 pct, the three-month rate
was 0.18 pct and the one-month rate was 0.11 pct.

[28] Foreign Exchange rates - Thursday

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

U.S. dollar 1.323

Pound sterling  0.819

Danish kroner  7.572

Swedish kroner  8.756

Japanese yen  109.74

Swiss franc  1.229

Norwegian kroner  7.439

Canadian dollar  1.304

Australian dollar  1.254

General News

[29] Christmas season inaugurated in Athens

The signal for the opening of the Christmas season in Athens was given
on Tuesday evening by Athens Mayor Giorgos Kaminis, as 16 Christmas
trees throughout the Greek capital were lit, inaugurating the Christmas
celebrations for the city.

The Athens Municipality "Big Band" and Symphony Orchestra played carols
before an audience of Athenians in downtown Syntagma Square, creating
a holiday atmosphere, while 550 musicians and entertainers will perform
in 30 Athens districts from 11 December until 4 January.

Addressing the turnout, Kaminis stressed that despite the tough times,
Athens celebrates and struggles to remain alive and become festive. "All
Athenians, young and old, from all races and religions, the homeless
and those who are in bad financial condition, abandoned or jobless,
have the right to celebrate".

The Athens mayor also clarified that the municipality has kept the cost
as low as possible, at just 10 percent of the money spent in previous
years, adding that this year's Christmas events do not seek easy and
gaudy shows but hope to rekindle the deeper, more humanitarian meaning
of Christmas and New Year to light up the city in a way deserving of a
European capital with an ages-long tradition of culture and history.

[30] Parliament honours Greek Olympic champions

The Hellenic parliament on Wednesday honoured the Greek Olympic champions
of the London 2012 Games.

The MPs who attended the special session acknowledged the adverse
conditions in which the Greek athletes are training and the need for
the Greek athletic sector to be upgraded and enhanced.

Parliament president Evangelos Meimarakis bestowed the parliament's gold
medal on Olympic bronze medalist in judo Ilias Iliadis and Education,
Religion and Sports Minister Constantinos Arvanitopoulos presented the
same medal to Olympic bronze medal holders in rowing Christina Yazitzikou
and Alexandra Tsiavou.

The parliament's silver medal was given to open sea swimming champion
Spyros Gianniotis, who placed fourth in the open sea 10km race
in London, and to the rowers Giorgos Tzialas, Ioannis Christou,
Stergios Papachristos and Ioannis Tsilis that came fourth in the
coxless fours race.

Fencing champion Vassiliki Vougiouka, who took the fifth place in the
London 2012 Games was also bestowed the parliament's silver medal.

Moreover parliamentary silver medals were awarded to Vassilis Tsolakidis
(6th in parallel bars), Byron Kokkalanis (6th in sailing), Spyros Lebessis
(7th in the javelin throw), Costas Filippidis (7th in the pole vault)
Costas Magdanis and Lefteris Consolas (8th place in rowing) and to
Evangelia Platanioti and Despina Solomou (8th in synchronised swimming
duet).

[31] Hellenic Olympic Academy member Dionyssis Gangas honoured

Dionyssis Gangas, member of the Hellenic Olympic Academy has been bestowed
the "European Olympic Laurel Award", becoming the first Greek to be the
holder of the two top Olympic distinctions. In the past, Gangas was been
honoured with the "Olympic Order", which is the International Olympic
Committee's (IOC) highest honour.

The award was given to Gangas at the unanimous decision of the Executive
Committee of the European Olympic Committees for the passion and high
morale with which he served the development and promotion of the Olympic
Ideals from every position he held in the field of sports", a Hellenic
Olympic Committee announcement said.

Gangas is also administration and operation consultant to the
International Olympic Academy.

[32] Klimaka presents survey on 'profile' of new Athens homeless

The non-governmental organisation "Klimaka" on Wednesday unveiled the
results of a survey of homeless people in the greater Athens area,
conducted between September 2011 and February 2012 using a sample of
214 people.

Based on the results, more than half or 64.8 percent had been homeless
less than two years, after the start of the economic crisis, while more
than 87 percent were between the ages of 26 and 55. Their educational
profile was also higher relative to previous years, with one in five
having a higher education degree and 40 percent having finished high
school.

Roughly a quarter said they had been employed in technical jobs or
construction, areas hard hit by the economic crisis, 22 percent were
private-sector employees, 18 percent freelance workers and 16 percent
had worked in tourism.

More than 82 percent of those surveyed were men and the great majority
were especially vulnerable in terms of their access to healthcare,
with mental health issues being a particular problem. Specifically,
18.1 percent reported attempting suicide at least once, 38.1 percent
reported frequent use of alcohol and 20.4 percent had a history of mental
health issues.

After finding shelter, (85.6 percent), their highest reported problems
were access to medical care (83.1 percent), finding work (76.5 percent)
and sanitation (75 percent). More than 41 percent said they had problems
finding somewhere to bathe.

According to Klimaka, 58.1 percent had no form of medical insurance and
therefore no access to either drugs or medical tests.

Of those surveyed, about half lived on less than 20 euro a month, one
third had been physically abused while on the streets at least once,
21.05 percent of women had been sexually abused and 44.1 percent had
been victims of robbery or theft.

Klimaka noted that there were no official records concerning the
number currently living homeless, though estimates placed the number
at approximately 20,000 people living on the streets or in unsuitable
accommodation, about half of them in the

Athens area. Much greater numbers are considered at risk of becoming
homeless, with an estimated 25 percent increase in the rate due to the
economic crisis.

The survey was presented for the first time to the European Federation
of National Organisations Working with the Homeless (FEANTSA), of which
Klimaka is a member. At the press conference to present its results,
Klimaka also presented its collaboration with the Fourlis group, which
runs Greek branch of furniture chain IKEA, and the renovation carried
out by the company at the Centre for the Support of the Homeless and
the Hostel for the Homeless last August.

[33] Universities complete electronic elections for administrative boards

Greek universities on Wednesday announced that internal electronic
elections to select their administrative boards in accordance with the
new framework law for tertiary education have been completed throughout
the country. Earlier attempts to hold the elections in the traditional
manner using a ballot box had invariably failed due to the reactions of
groups within the academic community objecting to the new law.

The Panhellenic Federation of University Professors (POSDEP) issued an
announcement on Wednesday saying that the election results were in at 19
universities throughout the country, with participation rates ranging
from 55.1 percent for the University of the Aegean to 98.4 percent for
Piraeus University.

The Greek Open University, the University of Western Macedonia, the
University of Western Greece, the University of Central Greece and the
International University all have governing committees and therefore do
not hold an election process for a board of directors.

[34] Court orders seizure of suspects' assets in Proton Bank bad
loans case

A first-instance court on Wednesday ordered the precautionary seizure
of all movable and immovable property owned by the businessman Lavrentis
Lavrentiadis and another 29 defendants on the stand for bad loans issued
by the now liquidated Proton Bank to companies owned by the defendant.

The court accepted a petition by shareholders of the old Proton Bank
claiming damages incurred without their knowledge through the activities
of the former bank governor and other executives of the old Proton Bank.

As a result, it ordered the seizure of all assets owned by the defendant
and those "in the hands of third parties" up to the total sum of 8.8
million euro.

[35] Court of Audit judges to extend labour action until Jan. 23

Court of Audit justices on Wednesday announced that they will continue
labour mobilisation until January 23, though they have lifted a 'ban'
on publishing court decisions which will henceforth be published normally.

The decision was made during a general assembly of the Court of Audit
judiciary officials' union on Wednesday, which said a new general assembly
will be held on January 23 to decide on any further action.

Court of Audit justices are currently abstaining from court hearings
from 10:30 a.m. until 3:00 p.m. each day.

[36] Angry pharmacists warn that further strikes are imminent

Relations between pharmacists and Health Minister Andreas Lykourentzos
deteriorated further on Wednesday, with angry pharmacists announcing their
intention to escalate protest action with a 48-hour strike in the near
future, while continuing to refuse drugs on credit to those insured by
the National Organisation for the Provision of Healthcare Services (EOPYY)

The head of the Attica Pharmacists Association Kostas Lourantos
slammed the minister as "unreliable" in a press conference, saying that
pharmacists had often suspended their mobilisations because they had
trusted in his promises to settle the state's outstanding debts. Nor
did he spare Prime Minister Antonis Samaras, noting that prior to the
elections the premier had acknowledged the fairness of the pharmacists'
case and had promised that to at least offset the money they were owed
against their debts to the state sector.

"However, something of this sort was not done for pharmacists, though
it was done for pharmaceutical companies," Lourantos pointed out.

According to the Attica Pharmacists' Association, EOPYY's accumulated
debts to pharmacists will be close to one billion euro by the end of the
year, while he also stressed that this was money that pharmacists had
already paid to their respective suppliers. As a result, 200 pharmacies
had already closed, 800 were on the Teiresias bad creditors' list and
300 had payment orders issued against them.

"EOPYY simply exists, it does not function," Lourantos told reporters,
while he also accused EOPYY of illegally withholding some 40 million euro
each month from pharmacy social insurance contributions that should have
gone to their social insurance fund ETAA-TSAY.

The governing council of the Panhellenic Pharmacists' Association
will convene on Wednesday to make decisions concerning the sector's
mobilisations, while pharmacists in Athens and Piraeus are to hold
general meetings with the same aim.

[37] Municipal employees to strike Thursday, Friday

The federation of local government employees (POE-OTA) has called a
48-hour strike in municipalities throughout the country on Thursday and
Friday, in protest of an Administrative Reform and e-Governance ministry
decision to update the civil servants' census database, deleting from
the list and putting into reserve labor all municipal employees of
organisations that have not sent relevant data to the ministry.

The decision was made during an emergency meeting of the federation's
executive committee on Wednesday, while a 48-hour strike for Monday
and Tuesday next week was also decided earlier this week as well as
participation in a 24-hour strike next Wednesday called by the civil
servants' umbrella federation ADEDY.

The federation will stage a protest demonstration at noon on Friday,
while local government employees will abstain from weekend duties,
included garbage collection.

[38] IKA doctor given jail sentence for accepting bribes

A doctor with the former Social Insurances' Foundation (IKA) health
branch was on Wednesday given a suspended sentence of one year in jail
for taking a bribe of 40 euros from a patient. The sentence was handed
down by a Misdemeanours Court and suspended for three years.

The 59-year-old doctor was accused of demanding and accepting 40 euro
from a 38-year-old father of two in order to "circumvent" the scheduled
appointment process and vaccinate his two children.

The incident allegedly occurred in August 2011 at the IKA branch in
Toumba and was reported by the father involved to the Greek Police,
who conducted a raid and found pre-marked notes in the doctor's office.

The doctor denied the charges during the trial.

[39] Two killed in ambulance road accident

Two people were killed on Wednesday morning when an EKAB ambulance
veered off course and crashed into a car, subsequently overturning on the
Heraklion-Rethymno stretch of the national highway on the island of Crete.

The collision was followed three explosions caused by medical oxygen
tanks on board the ambulance, which was engulfed in flames.

The local EKAB ambulance service director and doctor and the
representative of the EKAB employees were killed, while the ambulance's
driver, a paramedic, was injured in the accident, as well as the two
women in the car.

Health minister Andreas Lykourentzos ordered an investigation into the
causes of the accident, and expressed his condolences to the families
of the deceased.

The accident occurred as the EKAB director and EKAB employees' president
were returning to Heraklion from Rethymno where they had taken part is
a training seminar on administering first aid.

Weather forecast

[40] Mostly fair with low temperatures on Thursday

Mainly fair weather with a few showers in the east and south is
forecast on Thursday, with frost during the night and in the early
morning. Winds moderate, from mainly northerly directions, ranging from
3-5 Beaufort. Temperatures will range from -10C in some areas of the north
to a maximum of 15C in the south. Cloudy in Athens, with the possibility
of rain and temperatures from 4C to 13C. Sunny in Thessaloniki, with
temperatures from 2C to 8C.

[41] The Wednesday edition of Athens' dailies at a glance

The Eurogroup's meeting on Thursday and its anticipated release of the
disbursement of 44 billion euro tranche of the EU/IMF bailout package
to Greece and the imminent increase in PPC electricity rates mostly
dominated the headlines on Wednesday in Athens' newspapers.

AVGHI: "Life in Greece comes to a standstill".

EFIMERIDA TON SYNTAKTON: "Antonis (Samaras, PM) Chancellery".

ELEFTHEROS TYPOS: "The nine changes to the social security system for
700,000 professionals".

ESTIA: "Sunday's lost 'turnover'."

ETHNOS: "Tuition fees in private schools deregulated".

IMERISSIA: "The tranche arrives - Growth now the wager".

KATHIMERINI: "IMF's objections over the (proposed) tax scales".

LOGOS: "Reserve labour status applied".

NAFTEMPORIKI: "Political assessment of the bonds buy-back at the
Eurogroup meeting".

RIZOSPASTIS: "PPC imposes up to 48.7 percent rate increases on working
class households"

TA NEA: "Turmoil in parties - Split-ups and new alliances".

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

6 DAYS: "Ruthless collectors".

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