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Athens News Agency: Daily News Bulletin in English, 01-07-12

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

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

July 12, 2001

CONTENTS

  • [01] Premier focuses on the complex issue of a common European future
  • [02] Greece's, Luxembourg's views on Balkan problems coincide
  • [03] Simitis in Moscow next week for meetings with Putin, new IOC chief
  • [04] DM and German European Affairs Committee discuss EU common defense and security
  • [05] U.S. Senate to examine Tom Miller's Athens ambassadorial candidacy
  • [06] Four-country seismic research program in N. Aegean outlined
  • [07] U.S. State Department to issue report on trade in women and children on Thursday
  • [08] Greek court denies motion to block seizure of German properties
  • [09] First round of ND internal elections for 'shadow cabinet' commence
  • [10] MPs table rider toughening building permits for churches
  • [11] Albanian Orthodox Church recounts ten years of hard work and successes
  • [12] Greek budget revenues up 8.1 percent in June, yr/yr
  • [13] Gov't announces halt of state health workers' strike
  • [14] Second cow suspected of mad cow disease tests negative for BSE
  • [15] Greece supports Bulgaria economically for Kozloduy closure
  • [16] EU seeks end to tax breaks for foreign firms in Greece
  • [17] Greek business delegation to visit Moscow
  • [18] EU training bureau submits budget of 13.8 mln euros for 2002
  • [19] Merrill Lynch corrects forecast for Commercial Bank of Greece
  • [20] Majority stake in Hellenic Petroleum set for privatization
  • [21] ND leader says country lacks governance
  • [22] Greek stocks collapse, market unable to find support
  • [23] IOC briefed on progress of preparations for 2004 Games
  • [24] ND leader meets with Attica mayors, discusses future use of Athens 2004 installations
  • [25] Foreign minister shares Alvaro de Soto's hope
  • [26] Cyprus tables proposal regarding British Bases antenna construction

  • [01] Premier focuses on the complex issue of a common European future

    Athens, 12/07/2001 (ANA)

    Greek Prime Minister Costas Simitis inaugurated a one-seminar in Athens on Wednesday organized by the Athens-based Hellenic Center for European Studies on the subject of “Europe’s and Greece’s Future”.

    In a brief address to participants, Simitis outlined his government’s policy and long-term goals vis-a-vis Europe’s future, rhetorically asking the question: “which Europe do we want in the coming decades? Which Europe can stand effectively against the problems of globalization?”

    He warned that any integrated European structure is impossible to construct without the consent and participation of the continent’s societies, while naming several goals for achieving a “new balance” in the wake of monetary union and the onset of a common currency in most EU member-states.

    Specifically, Simitis mentioned increased funding towards the expanded portions of tomorrow’s European Union to achieve true convergence and cohesion; retaining and adapting to Europe’s social model; better coordination of macro-economic management within the framework of European Monetary Union (EMU); sufficient and continuous funding in order to implement the EU’s policies; dealing and solving EU citizens’ daily problems; a more active role for the Union in the international system in order to create a new world order based on the principles of international law; and finally, the creation of a political community of democratic values that has man as its center, his life and personality.

    The Greek premier emphasized that his government supports the EU’s evolution -- based on an integrated community model -- into a political union with a federal structure.

    On his part, Foreign Minister George Papandreou referred to the Balkans and Mediterranean, saying that the institution of a set of unified and universally accepted rules can help combat nationalism and racism in the region, while formulating terms for a democracy buttressed by solid institutions.

    "Europe has a place for everyone, for Bosnians, Croats, Serbs, Turks and Turkish Cypriot; a continent where borders are respected but that no not divide peoples, as there is a common basis of values and a unified institutional framework."

    Minister says EU institutional organization needs change: National Economy and Finance Minister Yiannos Papantoniou said on Wednesday that he believed the institutional organization of the European Union was lacking and needed reform.

    As an example, he cited the European Central Bank, which he said had taken an excessively strict stand on monetary issues that failed to contribute to a rebound in the European economy, and that should interlock more closely with other aspects of the economy.

    The minister was addressing a seminar on Greece and the future of Europe held by the Hellenic Center for European Studies.

    He said he backed the creation of a federal structure for the European Union.

    Enlargement of the 15-nation bloc would have a major impact on its institutional and political framework, when the decision-making process would have to be adapted to encompass 25-30 member states.

    Helping to solve the problem would be an elected authority to undertake government of the EU, he added.

    ND's Bakoyianni stresses need for common EU foreign policy: Main opposition New Democracy MP Dora Bakoyianni on Wednesday said that the European Union (EU) should formulate a common foreign and defense policy.

    Addressing a conference organized in Athens by the Hellenic Center for European Studies (EKEM) entitled "The Future of Europe and Greece", Bakoyianni, who is in charge of foreign affairs, added that the defense policy should be based on values that call for the safekeeping of European borders and have the strength to defend all European member-states.

    She said that all EU states should continue to exercise their own foreign affairs policy, but take into consideration the provision that the European Union must be expressed in complete harmony.

    Bakoyianni characterized the proposals that have been misstated for the exception of the Aegean and Cyprus from a common European defense policy as unacceptable. She also stressed that the European Union should manage its relations with neighboring countries in a successful way.

    She emphasized the need for the EU to establish the kind of relation with the US, which would allow the Union to become an equal partner and ally with the United States.

    Agreeing with Bakoyianni, Vice-President of the European Human Rights Court, Christos Rozakis, said that the EU should support a common foreign and security policy but noted that it must not evolve into a superpower.

    "The EU must gain the power to defend its foreign policy options, but it is not necessary for it to evolve into a military super-power," he said.

    [02] Greece's, Luxembourg's views on Balkan problems coincide

    LUXEMBOURG, 12/07/2001 (ANA - N. Megadoukas)

    A military resolution of the Former Yugoslav Republic of Macedonia's (FYROM) problem will not allow for a long term solution of the crisis Greek President Kostis Stephanopoulos and Luxembourg's Prime Minister Jean-Claude Juncker agreed during a exchange of views on Balkan problems on Wednesday.

    Stephanopoulos, who is on a three-day visit in the small Duchy, discussed conditions in the Balkans with Juncker and both stressed their opposition to the possibility of border changes in the region.

    During joint statements the two men declared the bonds of friendship and alliance between the two countries and their mutual solidarity when their interests are at stake, while they stressed their total agreement on the issue of Cyprus' accession to the European Union.

    Speaking on the Balkan problems, Juncker said that it caused misery to the inhabitants of the region, adding that the problems are complex and stressing that the timing is right to listen and to negotiate and not to fight each other.

    He stressed that there should not be a redrawing of the borders in the Balkans.

    The presence of the European Union in FYROM is one of peacekeeping, Juncker said, adding that its presence should not very visible, rather it should be more essential than a mere military presence.

    Juncker announced that he would visit Greece in February.

    Stephanopoulos calls for universal use of international law: International problems can be resolved only with the use of the process of International Law, avoiding selective use of its principles, Greek President Kostis Stephanopoulos said on Wednesday during his visit to the European Communities Court, here.

    Stephanopoulos, who is on a three-day visit to the small Duchy, said during his address to the court that the "powerful" of the world make selective use of the principles of International Law, adding that "we should admit that this obligation is not always accepted and that there are many persons that are intervening, as there are many cases of selective implementation or refusal of the implementation of the rule of law".

    "Greece hopes that the rule of International Law will be implemented, the justices of the European Communities Court implement the Community law and that international courts be afforded the same prestige characterizing your court," Stephanopoulos said while addressing the justices.

    European Communities Court President Gil Carlos Rodriguez Iglesias, during his welcoming address to the Greek president, stressed that Greek courts showed a special sensitivity to the developments of Community law and have pursued the strengthening of their bonds with the European Communities Court.

    After his visit to the court, the Greek president met with Greek expatriates in Luxembourg.

    [03] Simitis in Moscow next week for meetings with Putin, new IOC chief

    Athens, 12/07/2001 (ANA)

    Greek Prime Minister Costas Simitis leaves for Moscow on Sunday to attend next week's International Olympic Committee (IOC) in the Russian capital, where he is also expected to meet with the new IOC chief on Monday.

    On Tuesday, Russian President Vladimir Putin will receive Simitis at the Kremlin, before returning that same evening to Athens.

    Venizelos briefs premier ahead of Moscow visit: Prime Minister Costas Simitis, who is scheduled to leave for Moscow on Sunday, July 15th, 2001, in order to meet with International Olympics Committee (IOC), received Minister of Culture Evangelos Venizelos on Wednesday in order to run through the necessary preparations ahead of his trip.

    The IOC team is presently conferring in the Russian capital and has as its objective to elect a new president.

    Simitis, who is expected to brief IOC officials on the progress being made in the run-up to the 2004 Olympic Games in Athens, is to be accompanied by Venizelos and Minister of Foreign Affairs George Papandreou.

    Other topics of discussion included the plan of action that PASOK should take ahead of the party conference in October as well as pending political developments.

    Answering reporter's questions following his meeting with the premier, Mr. Venizelos said that "a new IOC president will be elected in Moscow, who will meet with the Greek prime minister".

    Simitis, Skandalidis discuss Oct. PASOK congress: Prime Minister Costas Simitis met with ruling PASOK Secretary Costas Skandalidis on Wednesday for talks over the party's course heading into a stepped up PASOK congress in October.

    An executive bureau meeting, chaired by Simitis, is set for Thursday evening.

    Skandalidis said executive bureau members will "codify" decisions taken at last week's central committee conference as well as discussing political and ideological positions along with charter changes prior to the congress' run-up.

    [04] DM and German European Affairs Committee discuss EU common defense and security

    Athens, 12/07/2001 (ANA)

    Defense Minister Akis Tsohatzopoulos and the members of the German Parliament's European Affairs Committee on Wednesday discussed issues concerning the European Union's common defense and security policy.

    The head of the German deputies Friedbert Pfliger said in a statement that there could be no different security zones in the framework of the European Union.

    "The region of the Balkans and the Aegean now constitute common zones for us and the issues preoccupying us in these regions are common," he said.

    Pfliger praised Greece's stabilizing role in the region, while Tsohatzopoulos explained the country's position on the sending of an international military force to the Former Yugoslav Republic of Macedonia (FYROM) and controlling the handover of weapons from the moment an agreement is reached, adding that the issue is a matter of concern for the German Parliament.

    On his part, Pfliger said "it is very important for us to consult Greek politicians to enable us as well to take our own decisions on promoting positive developments in the region."

    Commenting on a statement by main opposition New Democracy party leader Costas Karamanlis that the country lacks governance, Tsohatzopoulos said "the main opposition party leader is artificially raising the tones of his opposition attitude to create a suitable climate enabling him to leave for a vacation."

    Tsohatzopoulos said that undoubtedly there is an unfavorable development in the macroeconomic indicators of the European economy in its entirety due to developments in oil prices but the Greek economy remains strong.

    He said the percentage of its GDP increase would be higher by at least 2 percentage points than the average GDP increase in the remaining European countries.

    Tsohatzopoulos also said the 3rd Community Support Frame-work (CSF) and the 2004 Athens Olympic Games will considerably increase investments, performance and effectiveness.

    He went on to say that the problem is not in the character of Greece's economy but in the climate prevailing in it, which is also due to the situation created at the Athens Stock Exchange.

    [05] U.S. Senate to examine Tom Miller's Athens ambassadorial candidacy

    WASHINGTON, (ANA - T. Ellis)

    The U.S. Senate's Foreign Affairs Committee will examine the candidacy diplomat Tom Miller for the post of U.S. ambassador to Athens, following tabling of his appointment to the Senate by the White House on Tuesday.

    The Committee will decide in the next few days on what specific date the appointment will be examined.

    The process also includes Miller's appearance before the members of the Foreign Affairs Committee, who will be called on to outline the policy Washington intends to follow towards Athens in coming years, while he will also be answering questions by senators on bilateral Greek-US. relations, relations between Athens and Ankara and Greece's role in the Balkans and in the wider region.

    The most likely development is that the deposition will take place at the end of July, shortly before the Senate closes for the summer holidays in August.

    If, as expected, the Foreign Affairs Committee approves Miller's appointment, it will refer it to the Senate plenum for ratification with which the entire process will be concluded.

    [06] Four-country seismic research program in N. Aegean outlined

    NEW YORK, 12/07/2001 (ANA - M. Georgiadou)

    The basic outlines of a joint seismic research project in the northern Aegean recently agreed by Greece, Turkey, Italy and the US were outlined at a press conference on Tuesday by the director of Columbia University's Lamont-Doherty Earth Observatory, Mike Purdy, and the Observatory’s Adjunct Professor Art Lerner-Lam.

    The four-nation seismic research cooperation, was agreed in September 2000 on the sidelines of the UN Millennium Summit and a memorandum of cooperation was signed at the time, while a recent meeting between Greek Foreign Minister George Papandreou and his Turkish counterpart Ismail Cem in Kusadasi reaffirmed that it would go ahead as arranged.

    Taking part in the research will be Thessaloniki's Aristotelion University on behalf of Greece, the Lamont-Doherty Earth Observatory on behalf of the US, the Marmaris Research Center on behalf of Turkey, and Bologne University's Marine Geology Institute on behalf of Italy. The four participating institutes will hold their first working meeting on July 30 in Thessaloniki, while the formal cooperation agreement will be signed in Piraeus in early August.

    The main aim of the joint scientific research agreement is cooperation in preventing the consequences of natural disasters and to study the seismogenic and geophysical state of the region.

    Lamont-Doherty Earth Observatory director Prof. Mike Purdy explained during the press conference that the northern Aegean was a highly seismic region, adding that there existed construction and other techniques that could be used to ameliorate the disastrous consequences of earthquakes in this region.

    "We believe that the best way of determining these techniques is the application of a cooperation and coordinated research program-me among research institutes such as ours with similar institutes in Italy, Greece and Turkey".

    The Earth Observatory , he noted, dealt with all types of scientific problems related to the earth, and was specialized in the study and understanding of the mechanism of earthquakes and the progressions causing them, and recently, the Center for Hazards and Risk Research had been set up to seek ways of making scientific knowledge on earthquakes "socially beneficial".

    "Our earth knows no political boundaries. The cooperation among researchers from Italy, Greece, Turkey and the US we are presenting today is invaluable. The scientific problems related to seismic activity are difficult and demand the contribution of all the specialists. In order to make progress, we must coordinate and cooperation. This is the path that will be followed by the working group that will meet in Thessaloniki in two weeks," he said.

    Adjunct Professor Art Lerner-Lam explained that the Northern Anatolia Fault that extended from Turkey to the northern Aegean, which gave off the disastrous 1999 earthquake in Turkey, had many similarities with the San Andreas Fault in California and was responsible for most of the catastrophic seismic phenomena in the northern Aegean.

    Because a section of the Northern Anatolia fault ran beneath the Sea of Marmara and the northern Aegean, direct observation and charting of the fault by geologists was extremely difficult, and consequently the countries situated around the area provided a "natural laboratory" for studying the fault, Lerner-Lam said.

    [07] U.S. State Department to issue report on trade in women and children on Thursday

    WASHINGTON, 12/07/2001 (ANA - T. Ellis)

    The U.S. State Department's report on the world wide trafficking of women and children will be made public on Thurs-day, recording the increasing problem of trade in human beings and efforts toward international cooperation to confronted.

    Secretary of State Colin Powell will present the report.

    This first ever annual report on this subject is the result of legislation drafted last October by the Clinton administration and achieved bipartisan support in Congress.

    According to the legislation, the State Department is obliged to issue a report on an annual basis, which will register conditions in the trafficking of people all over the world.

    The State Department issues similar annual reports on human rights, drug trafficking and money laundering, terrorism and religious freedoms.

    [08] Greek court denies motion to block seizure of German properties

    Athens, 12/07/2001 (ANA)

    A Greek first instance court on Wednesday denied a motion by the German state to prevent the seizure and auctioning of two properties in Athens as compensation to relatives of Greek civilians executed in 1944 by Nazi occupation forces in a central Greece village.

    The Goethe Institute's Athens campus and the German Archaeology Society's building could go on the auction block, following a judge's rejection of the German appeal to stop proceedings.

    The motion of the German state is the second of its kind, as in July 2001 an Athens court upheld an motion against a process of seizure of German state property in Greece, concerning three prime Athens properties, housing the Goethe Institut in Athens, the German Archaeological School and a German high school.

    The court decided that the due process mandating that the Greek minister of justice approves rulings on property seizure belonging to other states does not apply any more, since the relevant articles of International Law and specifically those of the International Pact on Individual and Political rights prevail over Greek law.

    The court also ruled that the "organizing of simple educational, cultural and other events do not make the properties immune to seizure," as the German state argued that the buildings were used by organizations providing services to the public.

    According to sources the process of auctioning the buildings will begin on September 12.

    The initial process of appraisal and seizure was initiated early in July 2000, on the basis of a 1997 Livadia, central Greece lower court ruling ordering Germany to pay 9.4 billion drachmas in compensation to 296 descendants of 214 civilians murdered by German occupation forces in the village of Distomo during World War II.

    Berlin, at the time, also petitioned the Athens court, which granted the injunction, to nullify an order allowing the confiscation of German state properties in Greece.

    The ruling, which provided for the seizure and auctioning of German state property in Greece, was upheld by the Athens Supreme Court in April 2000, stating that Greek courts had to right to accept motions of Greek citizens against the German state.

    [09] First round of ND internal elections for 'shadow cabinet' commence

    Athens, 12/07/2001 (ANA)

    High-profile main opposition New Democracy deputy and one-time minister Vyron Polydoras was elected as the party's coordinator for its upcoming internal elections, which will essential create a "shadow cabinet" among ND's MPs.

    Polydoras also won election - 15 votes in favor to four blank ballots - as the chairman of ND's standing public administration, public order and justice sector committee.

    Deputy Ioannis Lambropoulos takes over the new internal affairs portfolio, as he gained 12 votes to noted attorney Alexandros Lykourezos' six.

    In later voting, Dora Bakoyianni was elected as coordinator of the national defense and foreign affairs committee with 14 votes in favor to two blank and two invalid votes.

    [10] MPs table rider toughening building permits for churches

    Athens, 12/07/2001 (ANA)

    Three deputies, representing three out of the four parties in Parliament, have tabled an amendment to toughen provisions for issuing building permits for churches and chapels - especially in the Cyclades and other Aegean islands.

    MPs Nikos Levoyiannis (ruling PASOK), Nikitas Kaklamanis (main opposition New Democracy) and the Coalition of the Left's Fotis Kouvelis charged in Parliament that numerous building permits for churches are now being used as a "cover" on popular islands to erect luxury residences, hotels, tourism enterprises etc. - all outside town planning zones.

    According to the deputies, the Holy Synod's Athens-based building directorate lacks any regional services, while issuing construction permits for churches and chapels at a "record pace".

    Conversely, the town planning and environment ministry has stated, in reply to tabled questions in Parliament by other deputies, that "construction of a church by a private citizen in a private playing field or plot requires the issuance of a building permit from a relevant town planning service."

    [11] Albanian Orthodox Church recounts ten years of hard work and successes

    Athens, 12/07/2001 (ANA)

    The Orthodox Church of Albania was reborn over the past ten years since Archbishop of Tirana and All Albania Anastasios was enthroned on July 16, 1991, following the overturning of the Communist regime in that country that pushed all religious activity in Albania underground.

    Anastasios, as the Exarch of the Ecumenical Patriarchate, began the hard work of reconstructing the Orthodox Church of Albania.

    In the short time-span of ten years, Anastasios successfully renovated hundreds of Orthodox churches in numerous villages, towns and cities, and has bought them back to their former state.

    Anastasios organized women's associations, youth groups and other societies and in 1992 he established the Orthodox Theological Academy "Anastasis" in Durres as well as the Orthodox Church high school of "Timios Stavros" in Gjirokaster in 1998.

    Anastasios also founded the first Orthodox Albanian newspaper, "Ngjallja", the "Gezohu" periodical, a new bulletin service from Albania as well as a radio station, all to serve the Orthodox Christian communities of the country, but at the same time open to all the population of the country.

    Among the many programs initiated by the Church, in predominately Muslim, Albania were those of healthcare, education, vocational training, agricultural development, and culture.

    [12] Greek budget revenues up 8.1 percent in June, yr/yr

    Athens, 12/07/2001 (ANA)

    Greece's regular budget revenues increased by 8.1 percent in June compared with the same month last year, for an increase of 8.8 percent in the January-June period, slightly exceeding an annual target for a rise of 8.0 percent, the finance ministry said on Wednesday.

    The six-month increase in revenues leaves a budget surplus of 61 billion drachmas.

    Tax agencies' revenues rose 0.1 percent in June and 7.1 percent in the first six months of 2001, customs revenues rose 0.4 per-cent and 3.5 percent, respectively, while value added tax revenues increased 0.7 percent and 10.26 percent over the same period.

    [13] Gov't announces halt of state health workers' strike

    Athens, 12/07/2001 (ANA)

    The labor ministry announced late Wednesday night its decision to meet the demands of striking IKA (Social Security Foundation) workers and the subsequent suspension of the rolling strikes they had called, starting on Thursday.

    [14] Second cow suspected of mad cow disease tests negative for BSE

    Athens, 12/07/2001 (ANA)

    A cow suspected of 'mad cow' disease has tested negative for bovine spongiform encephalopathy (BSE), the agriculture ministry announced Wednesday.

    The animal, which was suspected to be Greece's second case of BSE and was destroyed on Tuesday for precautionary reasons, tested negative for the disease in both a preceding clinical examination and in laboratory tests on brain and spine tissue conducted by the National Immunology Laboratory at Thessaloniki's Aristotelion University.

    The cow, which was found to have been "in excellent health", belonged to animal breeder Zissis Stavridis in Sterna, Evros, who had purchased the animal from an importer in Kavala. The breeder will be compensated, the ministry said.

    According to a statement by deputy agriculture minister Fotis Hatzimichalis "the National Immunology Laboratory for BSE has informed us, in an urgent communication, that according to the results of the tests on the cow imported from Holland and found in an animal breeding unit in Sterna, Evros, has tested negative".

    Hatzimichalis said the ministry "will continue the stringent checks and controls in order to protect the health of the consumers".

    The ministry had announced on Monday, a week after the first case of BSE was confirmed in Greece, that tests were being conducted on a second "suspicious case" after Dutch authorities informed Greek health services that a cow shipped to a cattle-breeding unit in Evros prefecture had originated from a unit in the Netherlands where BSE has been detected.

    Greek authorities last week confirmed that a milk cow infected with BSE was detected at a slaughterhouse in the country's north.

    The discovery resulted in the destruction of the entire herd, numbering some 150 cattle.

    Speaking at a press conference on Wednesday, Agriculture Minister George Anomeritis said a delay took place because the Dutch provided information on the animal's state with a 45-day delay.

    The animal was slaughtered purely for preventive reasons and, as it was proved, no problem whatsoever existed. Deputy Agriculture Minister Fotis Hadzimichalis said cooperation is continuing with the Dutch in connection with the other animal, which had contracted spongiform encephalopathy in the region of Kilkis.

    He said there is absolute cooperation in probing data to discover its origin, while Anomeritis said he would be briefing Parliament's Permanent Committee on the issue on Thursday.

    Both reiterated that there is no problem regarding milk and clarified that in the event a herd is slaughtered, as was the case in Kilkis, the carcasses are cremated and are not marketed for consumption.

    [15] Greece supports Bulgaria economically for Kozloduy closure

    Athens, 12/07/2001 (ANA)

    Greece will provide 2.5 million euro -apart from the 2.5 mil-lion euro it has already given- for the project of reconstructing the cement encasing at Chernobyl's unit 4 where the tragic accident had occurred in 1986.

    In parallel, Greece has committed itself to contributing 1.5 mil-lion euro to the International Support Fund for the dismantling of Kozloduy, which the European Reconstruction and Development Bank will manage on behalf of the international community.

    The finance and foreign ministries announced that Greece supports Bulgaria economically to enable it to close down its unsafe nuclear reactors at Kozloduy. To this end, the amount of 1.5 million euro will be provided by 2006.

    [16] EU seeks end to tax breaks for foreign firms in Greece

    BRUSSELS, 12/07/2001 (ANA / B. Demiris)

    The European Union's executive Commission on Wednesday asked Greece to abolish by 2005 tax breaks for the representations of foreign firms operating in the country.

    Under a 1967 Greek law, the representations of firms from abroad are exempt from all tax.

    The request for the phased abolition also applies to Belgium, Italy and Sweden.

    [17] Greek business delegation to visit Moscow

    Athens, 12/07/2001 (ANA)

    A Greek business delegation, headed by National Economy Deputy Minister on International Economic Relations Yiannis Zaphiropoulos will visit Moscow and the Russian Federation's regions July 19 to August 1.

    A national economy ministry announcement on Wednesday said that around 30 Greek businessmen would be included in the delegation.

    The Russian Federation offers very good prospects for in-vestments, wider economic partnerships and exports of goods and services in the sectors of energy, transport, telecommunications, tourism, information, banks, foods, plastics and packaging items.

    [18] EU training bureau submits budget of 13.8 mln euros for 2002

    Athens, 12/07/2001 (ANA)

    The European Center for the Development of Vocational Training (CEDFOP), which belongs to the European Union, is seeking funding of 13.8 million euros in 2002, EU officials said on Wednesday.

    The budget of the Thessaloniki-based agency has been sent to the EU's executive Commission for approval, the officials told a news conference in the northern port city, which they are visiting.

    [19] Merrill Lynch corrects forecast for Commercial Bank of Greece

    Athens, 12/07/2001 (ANA)

    Merrill Lynch, an international investment house, on Wednesday partly corrected a forecast on the performance of Commercial Bank of Greece following a complaint by the bank's governor that the calculation was faulty.

    In the revision, Merrill Lynch upped the target price for Commercial to 32.5 euros from 29.7 euros on Tuesday. It kept its re-commendation for a smaller position in the state bank unchanged from the previous day.

    Commercial's president, Yiannis Stournaras, said Merrill's forecasts on profit margins and share price were based on inaccurate calculations, confusing the number of shares with that of Alpha Bank.

    Stournaras told reporters after the revision that even using Merrill's method of calculation and on the basis of real financial data, the target price should have been 42.34 euros.

    [20] Majority stake in Hellenic Petroleum set for privatization

    Athens, 12/07/2001 (ANA)

    Development Minister Nikos Christodoulakis said on Wednesday that the majority of Hellenic Petroleum would be sold to a strategic investor in the same sector.

    The state energy group currently has a minority stake quoted on the Athens Stock Exchange, where it is a heavily traded stock.

    In order to carry out the plan, the state will sell 15-30 percent of the stock it owns, Christodoulakis told a news conference.

    The move would allow the internationalization of Hellenic Petroleum, also reinforcing its presence in the Balkans, he added.

    Appointed to sound out the market for the sale are UBS Warburg and National Bank of Greece.

    [21] ND leader says country lacks governance

    Athens, 12/07/2001 (ANA)

    Main opposition New Democracy party leader Costas Karamanlis on Wednesday lashed out at the government on the state of the Athens Stock Exchange and the economic policy it is following, saying that "the country lacks governance, nothing is moving forward and the economy is going from bad to worse".

    Karamanlis said businesses and investors are in a state of deadlock after the ASE's new downward trend. He added that the economic crisis is deepening and inflation is getting out of control, while unemployment continues to be at very high levels.

    The ND leader said the real economy is very distant from the false one, which is complacently being presented by the government.

    Karamanlis further said the country needs a different policy of dynamic development, oriented towards deep structural changes and bold decisions.

    He added that this policy cannot be implemented by a tired government nor by a prime minister under guardianship.

    [22] Greek stocks collapse, market unable to find support

    Athens, 12/07/2001 (ANA)

    Equity prices collapsed to another three-year lows on the Athens Stock Exchange on Wednesday, with the market unable to find the slightest support breaking one technical support level after the other.

    Blue chip stocks, particularly banks, remained under heavy pressure following a report by Merrill Lynch, the US investment bank, on Tuesday arguing that Greek banks' profits would be hit by falling prices in the stock market and also predicting a further decline in banks' share prices up to 25 percent.

    The report took the Greek market (brokers, investors and banks) by surprise. Greek analysts questioned Merrill Lynch's report and said it was based on wrong evaluations and that it did not include basic figures of banks' dynamic growth.

    The general index ended 2.85 percent lower at 2,435.65 points, with turnover a low 116.3 million euros, or 39.6 billion drachmas.

    Sector indices suffered heavy losses, with banks and holdings losing 4.66 and 4.47 percent, respectively.

    The FTSE/ASE 20 index for blue chip and heavy traded stocks dropped 3.66 percent, the FTSE/ASE MID 40 index eased 1.93 percent and the FTSE/ASE SMALLCAP index fell 1.99 percent.

    Broadly, decliners led advancers by 259 to 69 with another 32 issues unchanged.

    Of 360 stocks traded, decliners led advancers at 267 to 68 with another 25 issues unchanged.

    Bond prices mixed in heavy trade: Bond prices in the domestic secondary market on Wednesday finished mixed in heavy trade.

    The Greek benchmark 10-year bond showed a yield of 5.54 percent, and the yield spread over German bunds was 49 basis points.

    Turnover through the central bank's electronic system totalled 1.1 billion euros (390.1 billion drachmas).

    Buy orders accounted for around half of turnover.

    Equity futures slump in sell-off: Equity futures traded on the Athens Derivatives Exchange slumped by around 1.0 percent in nervous trade on Wednesday with heavy selling following some minor early buying.

    Traded were 10,013 contracts on turnover of 65.6 million euros.

    [23] IOC briefed on progress of preparations for 2004 Games

    MOSCOW, 12/07/2001 (ANA)

    Officials of the International Olympics Committee (IOC), who conferred in Moscow on Wednesday lauded the Athens 2004 Olympic Games preparation efforts.

    Following a brief presentation, President of the Athens 2004 Olympic Games Organizing Committee, Gianna Angelopoulos-Daskalaki, who headed the Greek delegation included executive director Ioannis Spanoudakis and other officials, told reporters that the IOC executive committee was impressed with the progress being made in the run-up to the 2004 Games.

    "It was a brief presentation since our last encounter in May," said Angelopoulos-Daskalaki, who added that "it was received well with favorable remarks."

    [24] ND leader meets with Attica mayors, discusses future use of Athens 2004 installations

    Athens, 12/07/2001 (ANA)

    Main opposition New Democracy (ND) leader Costas Karamanlis on Wednesday received the mayors of Attica's south shore municipalities and was briefed on their positions and proposals on the use of land for Athens 2004 Olympic Games projects.

    "We hear and take in information. If local government does not take center stage on such issues - in giving such messages and information - then we are not doing anything.

    Regardless on each one's political references, it is certain that we must have a relation of trust and strong channels of communication between us," Karamanlis said addressing the mayors.

    "The issue (of land use for the Games) is that, following the Games, these infrastructures will be for the benefit of citizens, without exemptions. The installations and anything other that will be created, should not be in the hand of the few and powerful," he concluded.

    [25] Foreign minister shares Alvaro de Soto's hope

    NICOSIA, 12/07/2001 (CNA/ANA)

    Foreign Minister Ioannis Kasoulides said here on Wednesday he shares the hope expressed by top UN envoy on Cyprus

    Alvaro de Soto that there would soon be something tangible with regard to UN efforts to resume the stalled Cyprus peace talks.

    The minister said international diplomacy is addressing its efforts in the direction of Ankara with a view to secure the resumption of the talks, but so far there is no result from these attempts.

    "I share the view Mr. de Soto has expressed that there is hope that something may happen but at present there is nothing happening,"

    Kasoulides said on his departure for Paris to meet Minister for European Affairs Pierre Moscovici.

    UN Secretary General's Special Adviser for Cyprus Alvaro de Soto has said that "there is nothing yet tangible" and expressed hope that "there will be soon and I hope people will be pleasantly surprised but there is nothing as of now."

    Asked if there is anything on the horizon, the minister said international diplomacy is active in the direction of Turkey in a bid to resume the peace talks.

    Replying to questions, he said no American or British official dealing with the Cyprus question is expected to visit Cyprus before efforts for a resumption of the dialogue bear fruit and before Turkey accepts a return to the UN process of proximity talks.

    Asked if efforts to resume the talks are on the basis of UN resolutions on Cyprus, the minister said the UN Secretariat does not operate without instructions and these instructions are the Security Council resolutions.

    Paris visit: Foreign Minister Ioannis Kasoulides said his meeting Thursday in Paris with French Minister responsible for European Affairs Pierre Moscovici is part of the government's effort to promote Cyprus' application for accession to the European Union.

    "France is an important member state of the EU and it is also a permanent member of the UN Security Council. Bearing this in mind we shall also review developments in the Cyprus question too," Kasoulides said on his departure for France.

    The minister returns home on Saturday.

    [26] Cyprus tables proposal regarding British Bases antenna construction

    NICOSIA, 12/07/2001 (CNA/ANA)

    The Cyprus government has put forward a proposal to set up a five-member team of independent experts to examine all studies regarding possible environmental impact from British designs to erect a 100-metre high telecommunications antenna in one of the two military bases Britain has retained on the island since Cyprus became an independent Republic in 1960.

    Minister of Agriculture, Natural Resources and the Environment Costas Themistocleous told the press after a cabinet meeting Wednesday that the experts are invited to study all relevant international conventions, EU directives and give their opinion, which will be binding for everybody.

    The proposal invites the European Commission to appoint two of the experts on EU directive about ecosystems and wild birds.


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