[ana-dist] Athens News Agency: Daily News Bulletin in English, 13-04-11

[HR-Net News Distribution Manager]

Thursday,  11  April  2013          Issue No: 4332

CONTENTS
[01] Greek banking system adequately capitalized, BoG governor says
[02] Talks with troika heads to continue into next week, Stournaras says
[03] Eurozone official says talks with troika proceed in very satisfactory
      way
[04] SYRIZA leader: We will not govern with memorandum plan
[05] PASOK accuses SYRIZA leader of being 'ready to play dice with
      country's future'
[06] SYRIZA deputies briefed by National Bank chief executives
[07] SYRIZA central committee meeting on April 13-14
[08] Report on German reparations under legal review, FM Avramopoulos
      tells President Papoulias
[09] Public administration issue must be resolved, PASOK spokesperson
[10] SYRIZA warns of 'catastrophic consequences' on social insurance funds
[11] KKE criticises postponement of National Bank-Eurobank merger
[12] Investigating Committee decides to send invitation to former PM
      George Papandreou to testify in person
[13] Former financial crimes chief criticizes former FinMin
      Papaconstantinou
[14] Defence Minister Panagiotopoulos visits Lebanon
[15] Former ND Eurodeputy Schinas appointed Task Force coordinator
[16] PASOK leader Venizelos meets with Iraqi ambassador
[17] Greece the only Eurozone state to record a decline in labour costs
      in 2008-2012
[18] Greek budget deficit sharply down in Jan-March
[19] Greek fiscal deficit fell to 6.0 pct of GDP in 2012
[20] Reichenbach briefed by ESEE on proposed Small Business Development
      Bank
[21] National Bank's board was to meet again on Wednesday
[22] Parliament passes new investment law
[23] Investors'' Ombudsman launched to expedite stagnating investments
[24] Photovoltaic power surpass wind power for first time
[25] SAP Forum Athens ends
[26] Fur producing sector doing better after sharp decline in recent years
[27] Conference on olive oil on the island of Lesvos
[28] Public transport employees to hold protest rally on Thursday
[29] Building activity down 28.1 pct in Jan
[30] Greek stocks rally for second consecutive session
[31] Greek bond market closing report
[32] ADEX closing report
[33] Foreign Exchange rates - Thursday
[34] Two suspects in Skouries gold mine arson held, police station shut
      down after residents attack
[35] Greek and Turkish architects attend Ottoman monuments conference
      on Lesvos
[36] Phishing charges drawn for eight people, 46 involved
[37] Man arrested for 21 million euro debt to state
[38] Arson attacks against local newspaper, bank branch in Patras
[39] Visitors and revenues in museums down in 2012
[40] Rail stoppages on Thursday and Friday
[41] Burglary at St. Dimitrios Church in Thessaloniki
[42] Cloudy on Thursday
[43] The Wednesday edition of Athens' dailies at a glance
---------------------------------------------------------------------------
Politics

[01] Greek banking system adequately capitalized, BoG governor says

An economic recession in Greece is not going to affect -probably-
Greek banks' capital adequacy and the 50 billion euros earmarked for
this reason will prove more than enough, George Provopoulos, the Bank
of Greece governor said on Wednesday.

Addressing a Parliament's Economics Commission meeting, Provopoulos
briefed parliamentarians over developments in the Cypriot banking
sector and reassured that the Greek government has taken all measures
necessary to prevent an expansion of the crisis while he underlined
that deposits in Greek banks were fully secured, regardless of sum and
financial institution.

Commenting on the adverse developments in a merger plan between National
Bank and Eurobank, the central banker said it reflected their weakness
in securing that private investors would cover 10 pct of recapitalization
needs, although he noted that final decisions rest with Hellenic Financial
Stability Fund on the basis of the wider public interest. "The political
system must be cut-off from banks' managements. I want good banks. I do
not care if a bank is American, Swiss, or anything else. If banks had
been foreign, they would not have been cut-off from markets, nor would
they have had liquidity problems," he said.

Commenting on the causes of the Cypriot crisis he said it was partly
because of a Greek PSI program and said that Greece could not offer
liquidity to Cypriot banks' subsidiaries in Greece. "Even foreign banks'
subsidiaries were obliged to recapitalize their subsidiaries before
exiting the Greek market," he noted.

Provopoulos stressed that a merger plan between National Bank and
Eurobank was not dead, but temporarily postponed. "BlackRock's report
has not changed for the worse. The report envisaged a 60 pct drop in the
domestic real estate property market and we are closer to that provision,
not only in mortgage loans but in corporate property loans as well,"
Provopoulos said. He added, however, that no one could exclude a slight
worsening of the situation. "I believe that we will not have to use extra
money and that the 50 billion euros are enough. We will try to use less
than 50 billion euros," the central banker said.

Commnenting on a community plan called "Barnier directive" envisaging
private depositors' participation in banks' restructuring in the future,
Provopoulos said that this plan referred to the period after 2018 and for
"isolated bank crises". This planning "has nothing to do with deposits
in Greece", he added.

[02] Talks with troika heads to continue into next week, Stournaras says

Negotiations between the Greek government and the troika heads of the
country's international lenders - EC/ECB/IMF - are not expected to
conclude before Friday's Eurogroup session in Dublin, Finance Minister
Yannis Stournaras said Wednesday evening.

Speaking after a briefing meeting between Prime Minister Antonis Samaras
and the government's economic staff, Stournaras said that talks with
the troika will be continued into next week, as he will be returning
from Ireland on Sunday.

Asked what he will report at the Eurogroup on the negotiations, he said
"it is enough for me to say that the negotiations are continuing and
that we are on a good path".

A senior Finance ministry official said on his part that there are
many issues still open and that "the path is long" on the issue of the
public sector. He added that it may be necessary for Administrative
Reform Minister Antonis Manitakis to participate in the talks again,
if the two sides find themselves close to an agreement.

Stournaras earlier interrupted a six-hour-long meeting with the heads
of the troika, which was to resume at 8:30.

According to a senior ministry official there has been "an exchange of
data that both sides must evaluate."

The Finance minister stressed that there was no "snag" in talks with
the troika and he was not worried about the disbursement of the next
tranche of the bailout loan.

[03] Eurozone official says talks with troika proceed in very satisfactory
way

BRUSSELS (AMNA / M. Aroni)

A high-ranking European Union official on Wednesday expressed absolute
satisfaction about the progress made in the negotiations between the
heads of the European Commission (EC), European Central Bank (ECB)
and International Monetary Fund (IMF) troika of Greece's international
lenders and the Greek government in Athens stressing, however, that no
decision on the next loan tranche should be expected in the informal
Eurogroup meeting in Dublin on April 12.

According to the EU official, the talks with the troika in Athens proceed
in a very satisfactory way.

Referring to the approval of the 2.8-billion-euro March loan tranche,
he said that there will be no decision in the next Eurogroup. He pointed
out that the Working Group or the finance ministers of the eurozone
will be in a position to make the necessary decisions as soon as the
negotiations with the troika are completed in a satisfactory manner. He
also avoided to define the issues that remain open in the talks saying
that they are already known.

Commenting on the suspension of the merger of the National Bank of
Greece (NBG) with Eurobank, he said that the troika had expressed its
objections from the beginning because of the size of the bank that would
have resulted from the merger.

Referring to the rumours concerning the reasons that led to the suspension
of the merger, he stated that they are whispers that have nothing to do
with reality and serve business interests.

[04] SYRIZA leader: We will not govern with memorandum plan

An alliance of the countries of Southern Europe against the German
sovereignty in the eurozone was proposed by main opposition SYRIZA leader
Alexis Tsipras in an interview with private television station SKAI late
Tuesday. Tsipras called on Prime Minister Antonis Samaras to move in the
latter direction and expressed his readiness to discuss ways to promote
and support this initiative.

Referring to the potential to create such an alliance under the current
conditions, Tsipras said that the policy of the northern European
countries and Germany to isolate one by one the southern European
countries and impose their will on them must stop. Particularly for
Greece, he said that the notion that Greece is a special case must come
to an end.

Regarding his meeting with Finance Minister Yannis Stournaras, who
briefed him on the recent Eurogroup meeting on the crisis in Cyprus,
Tsipras stressed that at the meeting the countries of the north had
reassured that there was no problem but in the end the well-known solution
(haircut of bank deposits) was imposed.

That, he added, was why the delusion of the southern countries that if
that they are in the good graces of the stronger countries everything
will go well must be dispelled.

Asked with whom will SYRIZA govern the country if it is elected, Tsipras
said that when he receives a strong mandate he will table his programme,
and expressed the hope that more political forces will follow, otherwise
he added, they will be responsible for the major instability that will
prevail in the country.

The SYRIZA leader clarified that under no circumstances will he govern
with a memorandum plan, or will he relax his stance, saying that
individuals and forces will be found that will support a new national
effort with SYRIZA as the backbone a Left-wing government of social
salvation will be formed with a mandate for a harsh clash in Europe
"in order to save our country".

[05] PASOK accuses SYRIZA leader of being 'ready to play dice with
country's future'

Fofi Gennimata, spokesperson for PASOK, a junior partner in the coalition
government, on Wednesday used sharp criticism and innuendos in comments
on a television interview of main opposition Radical Left Coalition
(SYRIZA) leader Alexis Tsipras that aired late Tuesday night.

"With his interview yesterday, Tsipras again appears ready to play dice
with the country's future. Euro wins the pot, drachma loses," Genimmata
said, adding "Or is it the other way around?"

[06] SYRIZA deputies briefed by National Bank chief executives

Main opposition Radical Left Coalition (SYRIZA) MPs Giorgos Stathakis and
Efklidis Tsakalotos on Wednesday met with National Bank of Greece (NBG)
chief executive Alexandros Tourkolias and Deputy CEO Petros Christodoulou,
a party announcement said.

The NBG representatives briefed them on the latest developments as
regards the suspended merger with Eurobank and presented their views on
their bank's recapitalization course.

On their part, the SYRIZA deputies expressed concern about the NBG
recapitalization, which will most likely take place under the Hellenic
Financial Stability Fund (HFSF), and its impact on the bank itself and
the country's banking system. They also expressed objections to the fact
that "society has no say in the HFSF decisions, when the Greek people
shoulder a 50-billion-euro debt".

[07] SYRIZA central committee meeting on April 13-14

The Central Committee of main opposition Radical Left Coalition (SYRIZA)
will hold a two-day meeting on April 13-14 in Athens focusing on the
political and economic situation ahead of the party's founding congress,
it was announced on Wednesday.

The meeting will be addressed by SYRIZA leader Alexis Tsipras.

[08] Report on German reparations under legal review, FM Avramopoulos
tells President Papoulias

The Foreign Ministry is awaiting the legal substantiation of a report
on German reperations to Greece, Foreign Minister Dimitris Avramopoulos
told President of the Republic Karolos Papoulias during their meeting
Wednesday at the Presidential Mansion.

Papoulias asked Avramopoulos on the report completed by the General
Accounting Office working group early in March that includes information
on a loan Greece made to Germany during World War II. The committee began
collecting and digitizing data from its own dispersed archives in April
2012, and Papoulias himself had handed a related notam to Germany during
his tenure as foreign minister.

"We must have an unshakeable legal base, because such a move would be
more legal than political," Avramopoulos said. "A report was submitted,
which, after being evaluated by our ministry's services, was forwarded
to the State Legal Council, as it needs legal substantiation - the
political base is given - if we are to go ahead," he added. He said the
legal opinion would not be late in coming.

President Papoulias said Avramopoulos' response to his Turkish counterpart
Ahmet Davutoglu was "very good" and he had "read it carefully". He
referred to a letter by Davutoglu that proposed a quadripartite conference
on resolving the Cyprus issue and challenges to hydrocarbon exploration
off the island. At the time, Avramopoulos had responded, "We do not
agree with your proposal for a quadripartite conference, chiefly because
such a proposal contravenes the fundamental and inalienable principle of
the independence, sovereignty and territorial integrity of the Republic
of Cyprus."

Avramopoulos told Papoulias that "I put things in their place, because the
principle of sincere diplomacy works, it is effective. One must know what
the other means and honesty, as much as it does not agree with the meaning
of diplomacy, as it has developed, it does bring results in the end."

"On the other hand," the foreign minister said, "I must tell you that
Greece's position in our geopolitical environment, which is very fluid
and undergoing great changes, is being reset. For these reasons, we
have a targeted policy and, related to what I had told you last time,
we have progressed, we have taken positive steps and are moving on."

[09] Public administration issue must be resolved, PASOK spokesperson

A country that has reached this point, like Greece, "cannot sustain and
pay civil servants who have been accused of misconduct, and not have
resolved this issue," said PASOK spokesperson Fofi Gennimata on Wednesday.

During an interview at state-owned Greek Radio and Television (ERT),
Gennimata said that the issue of the number of civil service employees
and the restructuring of the sector "is a very important obstacle to
completing negotiations" with the troika of lenders.

[10] SYRIZA warns of 'catastrophic consequences' on social insurance funds

Main opposition Radical Left Coalition (SYRIZA) on Wednesday lashed out
at the government accusing it of lacking a stable position and of meeting
the troika's demands on the issue of the banks without resistance warning
of "direct and catastrophic consequences on the social insurance funds".

"The banks' recapitalization - the National Bank of Greece (NBG)
in particular - will pulverize the value of shares owned by funds
jeopardizing the present and future of pensions, because it follows
after the PSI haircut," the SYRIZA statement underlined.

According to SYRIZA, the country needs a government that will have as
a priority the people's needs and will put an end to the memorandum
policy which, regardless of how it is implemented, hurts the majority
of Greek citizens.

[11] KKE criticises postponement of National Bank-Eurobank merger

The Communist Party of Greece (KKE) charged on Wednesday that the
government's recent decision to "postpone or cancel" the merger of
National Bank and Eurobank "reflects the antagonism of the domestic
and foreign (banking) groups, the movement of capital for investment
to other sectors inside the EU and increases the concern of sections of
the ruling class over the control of the domestic banking system".

The KKE, in an announcement, said that the developments in the banking
sectors in Cyprus and Greece are part of the general agreements and
directions for a single monitoring and control of the banking system
of all the EU member states, adding that the relevant decisions by the
EU Summits had been hailed both by the three-party government of Greece
and by main opposition SYRIZA.

It added that all the different choices for recapitalisation of the
banks converge into new sacrifices for the working class families and
lead to new losses for the social security funds.

For the popular strata, there is only one path, that of organising
its struggle for disengagement from the EU and socialisation of the
monopolies, the KKE concluded.

[12] Investigating Committee decides to send invitation to former PM
George Papandreou to testify in person

An official invitation will be sent to former prime minister George
Papandreou to testify in person at the Parliament's "Lagarde list affair"
Investigating Committee on this coming Tuesday at 6:30.

This was decided by the members of the Investigating Committee after a
vote on the proposal submitted by the three deputies representing the
main opposition Radical Left Coalition (SYRIZA), calling for the legal
summoning of Papandreou  to testify as a witness. Eight member of the
committee vote in favour of the proposal, while Panagiotis Rigas from
PASOK party voted against.

[13] Former financial crimes chief criticizes former FinMin
Papaconstantinou

Former head of the Financial and Economic Crime Unit (SDOE) Yiannis
Kapeleris told the preliminary investigative committee on the so-called
Lagarde scandal on Wednesday that he had no invovement in the list.

Kapeleris also told the parliamentary committee that former finance
minister Giorgos Papakonstantinou, whose liability the committee is
checking, handled the whole issue the wrong way. "He should have given a
clear order for an investigation and turn over the data on the list to the
investigators. He did not do it," Kapeleris said, according to sources.

The plenary session will vote on an opposition proposal to call former
prime minister George Papandreou to testify at the committee.

A colleague of PASOK party leader Evangelos Venizelos, Sophia Belba,
is scheduled to testify Wednesday evening.

[14] Defence Minister Panagiotopoulos visits Lebanon

The important role played by Greece in southeast Mediterranean, despite
its fiscal problems, was acknowledged by the state and political
leadership of Lebanon during the two-day formal visit to Beirut by
Defence Minister Panos Panagiotopoulos following an invitation by the
country's government, a defence ministry announcement said on Wednesday.

The visit focused on the promotion of bilateral military and defence
cooperation.

Wrapping up his visit, Panagiotopoulos said that Greece is the "political
bridge between Europe, NATO, the Arab countries, the Mediterranean region
and the Middle East," adding that its "policy contributes to building
a framework of stability, security and good cooperation between the
peoples living in the greater region."

During his stay in Beirut, Panagiotopoulos met with Lebanese President
Michel Sleiman and Prime Minister Najib Mikati. He also had talks with
Defence Minister Fayez Ghosn, Deputy Prime Minister Samir Mokbel,
Parliament Speaker Nabih Berri, Chief of the Armed Forces Gen. Jean
Kahwaji, former prime minister Fouad Siniora and Progressive Socialist
Party (PSP) leader Walid Joumblatt.

Panagiotopoulos also visited the grave of the assassinated former prime
minister of Lebanon Rafic Hariri.

[15] Former ND Eurodeputy Schinas appointed Task Force coordinator

BRUSSELS (ANA-MPA/M. Aroni)

Margaritis Schinas, a former New Democracy party Eurodeputy and current
alternate director of the European Commission's group of advisers, was
appointed on Wednesday by the college of Commissioners, coordinator of
the Task Force and the of the European Commission's Directorate-General
for Economic and Financial Affairs (DG ECFIN), in Athens.

A relevant announcement issued by the European Commission, notes that
Schinas will coordinate both the sessions of the officials of the DG
ECFIN in Athens, as well as the Task Force group in Greece, in the
framework of the implementation of the memorandum and the technical
aid to Greece. Schinas will also be in regular contact with the Greek
authorities and all the agencies involved that are working closely with
the Delegation of the European Commission in Athens and will be assuming
his new duties on May 16, 2013.

Lastly, the Commission's announcement says that Schinas is alternate
director at the European Commission's Advisers Office. He served as
alternate director at the office of the European Commission's vice
president, Loyola de Palacio and from 2004 to 2007 director of the
office of the Cypriot Commissioner at the European Commission Markos
Kyprianou. He was elected Eurodeputy with ND in 2007 and remained in
this position until 2010. He studied Law at the Aristotelio University
in Thessaloniki, Public Administration and Politics at the London School
of Economics and Social Administration at the College of Europe in Bruge.

[16] PASOK leader Venizelos meets with Iraqi ambassador

PASOK leader Evangelos Venizelos on Wednesday met in parliament with
Iraqi Ambassador to Athens, Burhan Jaf.

The meeting that lasted roughly 30 minutes focused on developments
in Iraq and on improving Greek business presence in Iraq, a party
announcement said.

Financial News

[17] Greece the only Eurozone state to record a decline in labour costs
in 2008-2012

BRUSSELS (ANA-MPA/M. Aroni)

Average hourly labour costs fell by 11.2 pct in Greece in the period
2008-2012, Eurostat said on Wednesday. The EU executive's statistics
service, in a report published here, said that Greece was the only
Eurozone member-state to record a decline in average hourly labour costs
in that period. The hourly labour cost in Greece was 16.7 euros in 2008,
17.1 euros in2010 and 14.9 euros in 2012, ranking the country fifth
among Eurozone member-states with the lowest hourly labour costs in 2012.

Slovakia (8.3 euros/hour), Estonia (8.4), Portugal (12.2), Malta (12.3),
Slovenia and Greece (14.9 each) recorded the lowest labour costs in
2012. Labour costs are made up of wages and salaries and non-wage costs
such as employers' social contributions.

In 2012, average hourly labour costs in the whole economy (excluding
agriculture and public administration) were estimated to be 23.4 euros
in the EU-27 and 28.0 euros in the euro area. However, this average
masks significant differences between EU Member States, with hourly
labour costs ranging from 3.7 euros in Bulgaria, 4.4 in Romania, 5.8
in Lithuania and 6.0 in Latvia, to 39.0 in Sweden, 38.1 in Denmark,
37.2 in Belgium, 34.6 in Luxembourg and 34.2 euros in France.

Within the business economy, labour costs per hour were highest in
industry (24.2 in the EU27 and 30.3 euros in the euro area), followed
by services (23.7 and 27.6 euros respectively) and construction (21.0
and 24.3 euros). In the mainly non-business economy, labour costs per
hour were 22.9 euros in the EU27 and 27.2 in the euro area.

Labour costs are made up of wages & salaries and non-wage costs such
as employers' social contributions. The share of non-wage costs in the
whole economy was 23.7% in the EU27 and 26.1% in the euro area, varying
between 8.2% in Malta and 33.6% in France.

[18] Greek budget deficit sharply down in Jan-March

The Greek budget deficit fell to 1.366 billion euros in the January-March
period this year, from 7.279 billion euros in the corresponding period in
2012 and from a budget provision for a shortfall of 4.85 billion euros,
Finance Alternate Minister Christos Staikouras said on Wednesday.

Presenting the figures, Staikouras said the state budget recorded a
primary surplus of 508 million euros in the three-month period, from
a deficit of 334 million euros last year and a budget target for a
shortfall of 2.338 billion euros. The minister said the figures showed
that "an undoubtedly painful but necessary fiscal restructuring process
was continuing".

Net budget revenues totaled 12.348 billion euros in the January-March
period, up 8.8 pct from a budget target, while regular budget net revenues
totaled 10.721 billion euros, up 1.5 pct from targets.

However, VAT revenues were down 7.3 pct, or 260 million euros, from budget
targets, reflecting a 126 million euros shortfall in oil products and a
144 million euros deficit in tobacco proceeds. A special consumption tax
on energy products fell 1.5 pct short of budget targets in the three-month
period. On the other hand, income tax proceeds surpassed targets by
1.5 pct, property taxes were 16.6 pct higher and other indirect tax
proceeds surpassed budget targets by 75.8 pct (mainly because of delayed
VAT payments).

The ministry report noted that net pre-tax return proceeds were down 9.0
pct compared with last year and down 3.0 pct from budget targets. Tax
returns totaled 213 million euros in the January-March period, raising
the total sum of tax returns to 783 million euros.

Public Investment Program revenues totaled 1.627 billion euros, up 837
million euros from budget targets.

State budget spending totaled 13.714 billion euros, down 1.824
billion euros from budget targets. Regular budget spending fell by
1.153 billion euros form budget targets, mainly because of decline in
primary spending. State budget spending fell by 6.404 billion euros,
or 31.8 pct compared with the same period last year, reflecting an 11
pct decline in primary spending and a 73 pct drop in interest payments.

[19] Greek fiscal deficit fell to 6.0 pct of GDP in 2012

Greece's fiscal deficit fell to 6.0 pct of GDP, or 11.6 billion euros,
in 2012, down from a budget provision of a deficit of 6.6 pct of GDP,
the Hellenic Statistical Authority said on Wednesday.

The statistics service, in a report, however, said that the country's
fiscal deficit rose to 10 pct of GDP, or 19.3 billion euros, if the
capital offered for the support of the domestic banking system (4.0 pct
of GDP) were included.

Finance ministry officials said the country's fiscal deficit could fall
further to 5.6 pct of GDP after completion of all technical controls on
the figures.

The country's fiscal deficit will have two differed figures, one without
the capital support to banks and another with them. Similarly, in 2013,
the budget will include the sums offered by Hellenic Financial Stability
Fund for the recapitalization of Greek banks.

[20] Reichenbach briefed by ESEE on proposed Small Business Development
Bank

Efforts by Greece's small- and medium-sized entrepreneurs to establish a
Small Business Development Bank were the focus of a meeting on Wednesday
between the board of the National Confederation of Hellenic Commerce
(ESEE) and the head of the European Commission Task Force in Greece
Horst Reichenbach.

Such a bank would specialise in the trade sector and offer specific
products, such as guarantees and small loans.

According to reports, discussions on the issues will continue next week
between ESEE, the Greek Bank Association and Reichenback, who said he
will consider the viability potential of the proposal.

In comments he made about the plan presented, Reichenback said that it
would be possible that such a bank might be operational in six months'
time.

[21] National Bank's board was to meet again on Wednesday

National Bank's board was to convene again on Wednesday to reach its
final decisions over a share capital increase scheme, as part of the
bank's recapitalization, in the aftermath of a Bank of Greece's decision
to temporarily suspend a merger process with Eurobank forcing the two
banks to seek separate capital increases.

The board meeting is expected to call for an extraordinary general
shareholders' meeting to decide on a combination of actions, such as
participation of existing shareholders in the capital increase scheme,
a rights' issue for new shareholders, issuing of convertible bonds
(CoCos) and a possible reverse split of the share price.

Eurobank's board on Tuesday agreed to call for a general shareholders'
meeting on Tuesday, 30 April.

Under the existing legislation, part of the capital increase can be made
with the issuance of CoCos, reducing equally the capital needed through
common shares.

[22] Parliament passes new investment law

The parliament plenary passed a new investment law after a heated exchange
on Wednesday.

Earlier, main opposition SYRIZA rapporteur Dimitris Papadimoulis had
demanded for a roll-call vote, as per a motion tabled by SYRIZA the
previous night, not on the bill in its entirety but on a specific article
concerning prospective betrayal of trust by bank administrations with
respect to loans that have been extended to non-profit public sector
legal entities.

Parliament had passed the bill in its second reading (by article)
last Thursday, but the specific article was added to the bill later,
in acceptance by the government of a relative amendment submitted by MPs.

Papadimoulis demanded that the article be annulled, claiming it comprised
a "scandalous regulation" that would provide amnesty to bankers who had
approved bad loans to political parties, and submitted his own amendment
"to annul the scandal".

Independent Greeks leader Panos Kammenos also said that his party would
submit a similar amendment for annulment, accusing the government of
introducing its own amendment/article in order to save the bankers who
issued illegal loans totaling 225 million euros to political parties.

Parliament vice-president Ioannis Tragakis rejected the SYRIZA motion
for a roll-call vote on the article, on the grounds that the rules of
parliament do not allow a roll-call vote on a voted regulation.

The bill was finally passed in total by a parliamentary majority, which
Papadimoulis later called a "parliamentary coup".

[23] Investors'' Ombudsman launched to expedite stagnating investments

Greece on Wednesday launched the institution of Investors' Ombudsman,
a new service of the Invest in Greece Agency, which aims to facilitate
and expedite stagnating investments.

The Investors' Ombudsman, which is envisaged to facilitate speed up
all types of investments in Greece above two million euros, is part
of a wider framework of actions by the government to boost investment
incentives in Greece and is introduced with the Development Ministry's
new law on "Establishing a Growth-Friendly Environment for Strategic
and Private Investments".

Invest in Greece CEO Stephanos Issaias and Development, Competitiveness,
Infrastructure and Networks deputy minister Notis Mitarakis presented  the
new service at a press conference on Wednesday, noting that its purpose
is to expedite investments that are 'stagnating' due to bureaucracy and
other dysfunctions of the Greek public administration.

Mitarakis explained that the Investors' Ombudsman is a practice that
is applied in other countries, such as Canada, Russia and Australia,
and will contribute to unblocking and facilitating the materialisation
of investment plans above 2 million euros in which specific problems
with the public administration, such as bureaucratic obstacles, delays,
disagreements and other difficulties have arisen during the licensing
process.

Issaias, in turn, explained that the service, is now available to
investors electronically or by phone at 210-3355770, and is provided
without charge.

Immediately after an investment case is brought to the attention of the
Ombudsman, either in writing or in face-to-face meetings at the Invest
in Greece offices, the staff, which currently numbers seven members,
will monitor every development or issues faced by the investor and act
to expedite the licensing process.

The aim, in the initial pilot stage, is for the Investors' Ombudsman
office to manage some 35 cases weekly, and 120 monthly, meaning that
each staff member will be assigned some 17 cases monthly.

It was also noted that a proclamation has been issued for the transfer of
civil servants from other services to enhance the staffing of the service.

[24] Photovoltaic power surpass wind power for first time

The power of photovoltaic units surpassed that of windpower units for
the first time ever in February, totaling 1,615 MW, compared with 1,495
MW of windpower units, without taking into account small photovoltaic
units on rooftops with a total power of 329 MW.

The Electricity Market Operator, in a report, also said that the
accumulated deficit of funding renewable energy sources (RES) in
Greece could reach 695 million euros this year and 1.39 billion euros
in 2014. The Operator noted that delays in payment to energy producers
extend up to 4-5 months, while the government has frozen new licenses
for building new units.

The Association of Photovoltaic Enterprises urged the government to
raise a national goal for photovoltaic energy in the country.

[25] SAP Forum Athens ends

The SAP Forum Athens, organised by SAP Hellas (a leading provider of
solutions and applications for operational software) and its associates,
has been concluded.

Business officials who attended this year's SAP Forum, whose sessions
were opened by Manos Raptopoulos, Managing Director, SAP Hellas&Cyprus,
COO South Europe, had the opportunity to be briefed on latest developments
in technology and innovations provided by SAP to businesses of all sizes
and exchange views and ideas in the framework of innovation development.

[26] Fur producing sector doing better after sharp decline in recent years

Despite losses in the leather processing and clothing sectors the last
few years, the sector of fur is experiencing a resurgence, according
to a report by private Hellastat statistical and economic data service
released Wednesday.

Based on the state Hellenic Statistical Service (ELSTAT) figures,
production dropped from 2005 to 2011 by an average of 13.4 pct per year,
15.6 pct in 2011 and a whopping 36.2 pct the first nine months of 2012,
affected by the negative turn in production of the clothing and shoe
production industry in general.

Turnover, however, in 2011 rose by 10 pct compared to 2010, benefitting
from a rise in demand from abroad (Russia, China, among others),
according to the Association of Fur Producers of Kastoria, the northern
city traditionally associated with fur production and processing.

Hellastat loooked at 65 businesses with total turnover for the statistical
sampling of 2011 showing an increase of 17.6 pct to 209 million euros. Of
these, 59 pct registered a rise in sales, with an average increase coming
to 9.4 pct.

Operational cost rose to 19.54 mln euros (48 pct up from 2010), while
before-tax profits improved, to climb above 3 mln euors (a rise of
31 pct).

[27] Conference on olive oil on the island of Lesvos

The island of Lesvos in the northeast Aegean will host a two-day
conference on April 12-13 on the promotion of local olive oil production
and distribution.

The conference will be held in Papado, Geras region, at The Odysseas
Elytis cultural centre within the framework of a partnership relation
initiative between Greece and Germany aimed at setting up a  network of
regions, municipalities and citizens.

Agriculture and Foods Minister Athanassios Tsaftaris and Alternate
Interior Minister Haralambos Athanassiou will participate in the
conference proceedings.

The event is sponsored by the Northern Aegean Regional Authority, the
Lesvos Chamber of Commerce and Industry, the Hanns Seidel Foundation in
Athens and the Greece-Germany Assembly (DGV) in Thessaloniki.

[28] Public transport employees to hold protest rally on Thursday

The public transport employees will demonstrate at 18:00 on Thursday
outside the ministry of development, it was announced on Wednesday.

The federation of railway employees and the public transport trade unions
underlined in a joint statement that they want a meeting with Development,
Competitiveness, Infrastructure, Transport & Networks Minister Costis
Hatzidakis to demand the signing of a collective labour agreement,
free transport for the jobless, students and the disabled and the
lifting of the back-to-work order currently into effect for fixed-line
public transport employees. They also expressed their opposition to the
privatization of public transport.

[29] Building activity down 28.1 pct in Jan

Building activity fell by 28.1 pct in volume in the January and by 35.6
pct in the number of permits issued, compared with the same period last
year, Hellenic Statistical Authority said on Wednesday.

Building activity is projected to continue falling over the next few
months and is expected to be hit hardly if the government decides to
raise objective property values around the country.

The statistics service, in a monthly report, said that building permits
issued in January totaled 1,406, down 35.6 pct from January 2012, while
volume of building activity dropped 28.1 pct in the first month of 2013,
compared with the corresponding period last year.

[30] Greek stocks rally for second consecutive session

Greek stocks continued moving sharply higher for the second consecutive
session in the Athens Stock Exchange on Wednesday, pushing the
composite index of the market above the 900 level. Buying interest was
again focused on bank shares, particularly National Bank (+27.18 pct)
and Eurobank (+26.18 pct) as the market discounted a decision by the
Hellenic Financial Stability Fund to give a green light to forthcoming
share capital increase plans by the two banks. Traders said a sharp
recovery in bank share prices was attributed to Greek banks' efforts
to improve their share prices and to set better 50-day average prices
ahead of their share capital increase plans.

The composite index ended at its day's highs of 903.13 points, up 3.03
pct. Turnover was a moderate 68.037 million euros. The Big Cap index
jumped 4.20 pct and the Mid Cap index ended 3.39 pct higher. The Food
sector was the only one to end lower (-0.94 pct), while Banks (16.04
pct), Personal Products (8.25 pct) and Financial Services (6.61 pct)
scored the biggest percentage gains of the day.

Intralot (-1.03 pct0 and Coca Cola Hellenic (-0.99 pct) were the only
blue chips to end lower, while National Bank (27.18 pct), Eurobank
(26.18 pct), Piraeus Bank (16.75 pct), Alpha Bank (13.33 pct) and Jumbo
(9.84 pct) were top gainers.

Broadly, advancers led decliners by 110 to 35 with another 18 issues
unchanged.

Sector indices ended as follows:

Industrials: +4.76%

Commercial: +5.29%

Construction: +4.78%

Oil & Gas: +3.82%

Personal & Household: +8.25%

Raw Materials: +4.91%

Travel & Leisure: +0.50%

Technology: +2.75%

Telecoms: +3.42%

Banks: +16.04%

Food & Beverages: -0.94%

Health: +3.44%

Utilities: +4.23%

Financial Services: +6.61%

The stocks with the highest turnover were OTE, PPC, National Bank and
HBC Coca Cola.

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

Alpha Bank: 0.73

Public Power Corp (PPC): 6.00

HBC Coca Cola: 20.05

Hellenic Petroleum: 7.63

National Bank of Greece: 0.60

EFG Eurobank Ergasias: 0.29

OPAP: 7.05

OTE: 5.45

Bank of Piraeus: 0.22

Titan: 13.80

[31] Greek bond market closing report

The yield spread between the 10-year Greek and German benchmark bonds
shrank further to 10.11 pct in the domestic electronic secondary bond
market on Wednesday, with the Greek bond yielding 11.40 pct and the German
Bund 1.29 pct. Turnover was a thin 3.0 million euros, two buy orders.

In interbank markets, interest rates remained largely unchanged. The
12-month rate was 0.54 pct, the nine-month rate was 0.44 pct, the
six-month rate was 0.33 pct, the three-month rate was 0.21 pct and the
one-month rate was 0.12 pct.

[32] ADEX closing report

The June contract on the FTSE Large Cap index was trading at a discount of
2.41 pct in the Athens Derivatives Exchange on Wednesday, with turnover
rising to 30.066 million euros. Volume on the Big Cap index totaled
14,126 contracts worth 20.006 million euros, with 26,673 open positions
in the market.

Volume in futures contracts on equities totaled 65,865 contracts worth
10.060 million euros, with investment interest focusing on National
Bank's contracts (24,781), followed by Alpha Bank (14,127), Piraeus Bank
(5,861), Eurobank (3,512), MIG (1,312), OTE (3,791), PPC (4,714), OPAP
(1,080), Mytilineos (938), Intralot (1,195), GEK (1,513), Ellaktor
(1,033), Hellenic Exchanges (524) and Sidenor (288).

[33] Foreign Exchange rates - Thursday

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

U.S. dollar 1.328

Pound sterling  0.867

Danish kroner  7.568

Swedish kroner  8.460

Japanese yen  131.64

Swiss franc  1.236

Norwegian kroner  7.618

Canadian dollar  1.348

Australian dollar  1.261

General News

[34] Two suspects in Skouries gold mine arson held, police station shut
down after residents attack

Two people remanded in custody as suspects in the February fire-bomb
attack at the Hellenic Gold facility in northern Greece's Skouries
village got an extension to give their deposition, to Sunday.

The two were arrested on warrants and are being held in Thessaloniki,
where they were transferred from the Halkidiki peninsula to prevent any
more incidents by residents and others protesting their detention.

Earlier on Wednesday, scuffles broke out between local residents and
police in the town of Ierissos, on Halkidiki, as authorities conducted
another investigation to find the perpetrators the arson attack on the
installations of the gold-mining company.

Incidents led to an attack on the police station of Ierissos, which
was shut down after what police headquarters said was "serious damage
wreaked this morning by residents on the interior of the station and
its equipment, making its further use as police service impossible."

Services will be taken over by the Polygyros police department.

[35] Greek and Turkish architects attend Ottoman monuments conference
on Lesvos

Greek and Turkish researchers and architects attended a two-day conference
on the island of Lesvos on the preservation and use of monuments of the
Ottoman period on the northeast Aegean Island.

The conference was organised by the Lesvos Chamber and came under the
aegis of the Greek branch of the International Council of Monuments
and Sites (ICOMOS), a non-governmental association acting as technical
advisor to UNESCO.

Speakers referred to the collaboration between Greek architects studying
Ottoman monuments on Lesvos and those working on architecturally
comparable monuments in the neighbouring city of Aivali on mainland
Turkey, drew comparisons between the buildings, and presented the activity
of the movement "Cohabitation and Communication in the Aegean," which
has been actively promoting architectural collaboration between the two
sides in the past 15 years.

Architects and city planners from Greece and Turkey presented their
studies on the preservation and showcasing of historical monuments,
including the restoration work that changed the identity of the old town
of Aivali, and tours taken on Mytilini monuments of the Ottoman period.

The meetings were open to the public and concluded with discussion on
the importance of awareness of cultural heritage and its promotion to
the wider public.

[36] Phishing charges drawn for eight people, 46 involved

Charges were drawn for eight people who stole names and passwords of
bank customers (phishing) and proceeded to transfer money, pay utility
bills and insurance fund fees, charge mobile phones and withdraw money
from ATMs.

Police did not name the that notified the Electronic Crimes Division,
but said that so far 46 people were involved in the thefts. The charges
drawn relate to a 41-year-old Greek, two Romanian nationals (aged 29
and 38) and another five foreign nationals.

Up to now, police have found 79 transactions that carried out through
Internet links in Greece, Romania, Germany and the United Kingdom. The
identity of 23 users has been determined with transactions involving
120,000 euros, although the total amount involved has not been determined
yet.

Investigations in Thessaloniki and Alexandroupoli resulted in the
confiscation of two hard disks and a modem-router, all of which were
sent for analysis. The case file will be examined by the First-Instance
Court of Athens.

[37] Man arrested for 21 million euro debt to state

A 70-year-old former managing director of a construction company was
arrested by Attica security police on Tuesday for overdue debts to the
state of 21,742,215 euros, police said on Wednesday.

The man will appear before a public prosecutor

[38] Arson attacks against local newspaper, bank branch in Patras

Two arson attacks were made against a local newspaper and a Hellenic
Bank branch in the western port city of Patras early Wednesday.

According to reports, a group of unidentified persons broke the windows
of the offices of "Peloponnissos" newspaper and threw two fire-bombs
into the interior, causing a fire. Intervention by the Fire Brigade,
however, prevented the fire from spreading.

The same group then went to the Hellenic Bank branch where it again
threw a fire-bomb, with the ensuing fire causing damage to the bank's
ATM machine and a parked motorcycle.

Earlier, the same group had vandalized a National Bank ATM.

[39] Visitors and revenues in museums down in 2012

The number of visitors to museums throughout Greece dropped by 2.8
percent in 2012 and revenues fell by 18.4 percent, the Independent
Hellenic Statistical Authority (ELSTAT) said on Wednesday. In December
2012 the number of visitors to museums increased by 31.3 percent and
the revenues increased by 2.4 percent compared with November 2012.

Visitors in the archaeological sites around the country rose by 54.3
percent in December 2012 and revenues rose 33.6 percent in comparison with
November 2012. In 2012 the number of visitors in archaeological sites
rose by 2,7 percent but the revenues fell 12.3 percent in comparison
with the same period in 2011.

[40] Rail stoppages on Thursday and Friday

Rail services will be disrupted on Thursday and Friday, as Hellenic Rail
(OSE) and Proastiakos suburban railway employees will be staging four-hour
work stoppages on both days.

The stoppages will take place from 8:00 p.m. to midnight Thursday
and Friday.

As a result, several OSE itineraries that overlap into the stoppages
will be cancelled or re-routed.

Travelers are advised to call OSE at 14511 or check the revised
itineraries on the webpage www.trainose.gr before setting off.

[41] Burglary at St. Dimitrios Church in Thessaloniki

Unknown individuals at dawn on Wednesday dawn broke into Aghios Dimitrios
church, patron Saint of Thessaloniki, and took a bishop's miter and
other valuables.

According to information the perpetrators broke into the church from a
window that had been found broken last Sunday but had not been repaired
yet.

Police have launched an investigation to find the perpetrators.

Weather forecast

[42] Cloudy on Thursday

Cloudy weather and northerly winds are forecast in most parts of the
country on Thursday. Winds 3-5 beaufort. Temperatures between 5C and
24C. Slightly cloudy in Athens with variable 3-4 beaufort winds and
temperatures between 8C and 23C. Same in Thessaloniki with temperatures
between 7C and 19C.

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

AVGHI: "Final blow to social security funds".

DIMOKRATIA: "Megaton scandal".

EFIMERIDA TON SYNTAKTON: "Cover-up".

ELEFTHEROTYPIA: "Prices fall, high cost of living remains...".

ELEFTHEROS TYPOS: "Sweeping changes in high school (lyceum) from
September".

ELLADA AVRIO: "Banks crack, social security funds collapse".

ESTIA: "Margaret Thatcher: The seal of a great leader".

ETHNOS: "76,444 freshmen in Universities and colleges this year".

IMERISSIA: "Athens Stock Exchange 'sees' solution".

KATHIMERINI: "Legislation for express layoffs".

LOGOS: "Zero hour for public sector".

NAFTEMPORIKI: "Controls on banks' stock transactions".

RIZOSPASTIS: "Communist Party's (KKE) 19th Congress starts on Thursday".

TA NEA: "Prosecutors and Financial Crimes Squad (SDOE) probe the Greek
offshore companies"

VRADYNI: "Pensions, elderly put through the sieve".

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