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Athens News Agency: Daily News Bulletin in English, 02-06-27

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

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

June 27 , 2002

CONTENTS

  • [01] OECD praises progress, urges reforms in Greek economy
  • [02] Handful of agreements signed during president's visit to Kazakhstan
  • [03] Multi-state Human Security Network's activities the focus of Athens event
  • [04] Government denies that EU lacked common stance on Euroforce in Seville
  • [05] New Greek ambassador arrives in Washington
  • [06] Alternate FM addresses diplomatic employees on EU Presidency
  • [07] Giannitsis to visit Baltic states over the next week
  • [08] Government to press ahead with new civil service wage scale
  • [09] Pay rises to move within stability program, government says
  • [10] Minister says Greek economy experiencing period of growth
  • [11] Greek exports to Turkey rise in Jan-April
  • [12] Bilateral shipping agreement discussed by minister, Indonesian envoy
  • [13] Chinese government delegation visits finance ministry
  • [14] Tourist arrivals down 3.0 percent in 2002, report says
  • [15] Intracom studies laboratory installations to be inaugurated
  • [16] Greek stocks follow world bourses lower on Wednesday
  • [17] IOC officials satisfied with Olympic Games preparations
  • [18] About 604 million euros to be provided for culture by 2006
  • [19] Government reassuring about safety of Greek hydrofoils
  • [20] European Commission cautions Greece on aircraft security
  • [21] Ecumenical Patriarch Bartholomew arrives in Volos
  • [22] Scientists to recover fossil tree trunks from Lesvos seas
  • [23] Papapetrou: The Belgian constitution must be discussed in its entirety
  • [24] Bush: We are committed to efforts for a settlement in Cyprus

  • [01] OECD praises progress, urges reforms in Greek economy

    Athens, 27/06/02 (ANA)

    The Organization for Economic Cooperation and Development (OECD) on Wednesday praised progress in the Greek economy, predicted high growth rates in the coming years but recommended a more flexible labor market, tight incomes policy and reforming the country's tax and social security systems.

    The Greek economy maintained its strong growth rates in 2001, OECD said in a report, but with limited progress in the labor market. The Paris-based organization also noted that a deflationary procedure seemed to have stopped and stressed that strong company investments were boosting the economy's production capacity paving the way for a more speedier, non-inflationary economic growth in the future.

    OECD predicts that economic growth would exceed the organization's average growth in the years 2002 and 2003 (3.5 percent and 4.5 percent, respectively), although it cautioned of the risk of increased inflationary pressures.

    The organization said that Greece needed to act stronger to achieve fiscal adjustments in order to reduce its public debt to around 60 percent of the country's gross domestic product (GDP) by 2010. Achieving this goal needed greater efficiency in public spending and better use of human resources in public administration, the report said.

    OECD urged for a restructuring of state spending and for a less generous social security system. It also noted that a radical reform of the tax system was fundamental, stressing that recent proposals on the issue were moving on the right direction.

    Structural rigidities were still obstructing creation of new job positions, while OECD insisted that there was more room to better harmonize the country's education system with the country's labor market's needs.

    OECD said it was imperative to speed up deregulation of industrial networks in Greece (Hellenic Telecommunications Organization, Public Power Corporation, Olympic Airways), to be accompanied by a strengthening of regulatory authorities in certain sectors of the economy.

    The report also stressed that rapid progress in deregulating the country's banking market has improved growth potential of the economy.

    The Organization for Economic Cooperation and Development (OECD) said in its report on Wednesday that inflation in Greece is higher than in most developed countries and should return to the eurozone's average.

    The report said that what is necessary for this to be achieved is a restrictive policy in civil servants' salary increases. It added that increased expenditures for civil servants were not due to salary increases but to lump sum increases given to certain categories to smooth out inequalities.

    The accumulation of the public debt until 1996 is attributed primarily to the burdening of loaning in foreign exchange due to parity differentiations, capital injections for public corporations, debt acceptance by the state on behalf of third parties and the issuing of bonds for the debts of the military.

    The organization stressed that expenditures in the Greek public sector, although swelling after 1970, are lower than the average of EU countries. However, the report recommends a more rational and effective management and allocation of public funds.

    Once again the OECD sees inflexibilities in the labor market. It criticizes the observance of lists in the public sector, which is a burden for merit and calls for the restructuring of productive potential, and its transfer to the various levels of management.

    The report further says that public expenditures for health and education are low compared to international standards, in contrast to expenditures for public administration and pensions that are relatively high.

    On the question of the taxation system, the report says it should become simpler and fairer and concedes that proposals by the Experts Committee created last year, expected to lead to a bill being produced for ratification in autumn, are moving in this direction.

    It also says that unemployment primarily concerns women and young people and underlines the difficulty of young people who have only completed first-stage education joining the labor market.

    [02] Handful of agreements signed during president's visit to Kazakhstan

    ALMATY (ANA - N. Megadoukas)

    President of the Republic Kostis Stephanopoulos' official three-day visit to the Central Asian country of Kazakhstan this week included the signing of a handful of bilateral agreements, including tourism.

    The agreements -a joint protocol to promote and protect investments, a road transports agreement and a cultural exchange program- were signed here following talks Stephanopoulos had with Kazakh leadership, including President Nursultan Nazarbayev.

    The latter also became the latest head of state to sign the high-profile "Olympic Truce" initiative being promoted by the International Olympic Committee (IOC) and Athens.

    "We're ready for cooperation in all directions in all sectors," Nazarbayev said, adding that Greece was one of the first countries to establish diplomatic ties with the large Central Asian country 10 years ago.

    On his part, Stephanopoulos thanked his Kazakh counterpart for the hospitality his country extends to a large ethnic Greek community in Kazakhstan.

    Among the topics on the agenda were developments in Central Asia and the Balkans, two regions were Kazakhstan and Greece play a significant and stabilizing role, respectively, as well as Greece's upcoming EU presidency and Europe-Kazakhstan.

    Deputy Foreign Minister Andreas Loverdos and Yiannis Magriotis, among others, are accompanying the Greek president on the visit.

    Kazakh experts due to look into cooperation in Burgas- Alexandroupolis pipeline: A team of experts from Kazakhstan will visit Athens soon to investigate prospects for cooperation ''during or after'' the construction of the Burgas-Alexandroupolis oil pipeline, Greece's President Costis Stephanopoulos said Wednesday in Almaty, following talks with his Kazakh counterpart Nursultan Nazarbayev.

    Stephanopoulos, who on Tuesday began a three-day state visit to Kazakhstan, discussed bilateral relations, international affairs and regional problems with Nazarbayev, and later told reporters that the two sides held similar views.

    Replying to press questions after the talks, Nazarbayev said that Kazakhstan, as an oil-producing country, addressed itself to the European market and, consequently, looked positively upon the ''attractive plan'' for the construction of the Burgas- Alexandroupolis pipeline.

    He said that the Kazakh experts to visit Greece would look into the prospects for technical and economic cooperation, adding that Kazakhstan supported the plan for the construction of the pipeline, as well as all plans for oil transports from his country.

    Nazarbayev further said that a prospective inclusion of Kazakhstan into the plan for the Burgas- Alexandroupolis pipeline would mean that his country would have a part in the ownership on an equal footing.

    He also noted that Greece, as a major maritime power, participated in a joint enterprise with Kazakhstan for the transport of oil to the Black Sea and the Caspian Sea.

    ''We hope that this company will assist in the direction of oil transports, just as we hope that this fleet will have ships under the Kazakh flag,'' he added.

    [03] Multi-state Human Security Network's activities the focus of Athens event

    Athens, 27/06/02 (ANA)

    A presentation of the Human Security Network's (HSN) ambitious initiatives, as well as Greece's fledgling participation in the network established by Canada and Norway in 1999, was the focus of a one-day conference in Athens on Wednesday, with Foreign Minister George Papandreou inaugurating the day's addresses.

    The Human Security Network originally developed out of a bilateral arrangement between Canada and Norway - the so-called "Lysoen partnership" -- with more than a dozen countries from various parts of the world now active in the network. HSN's objective is to promote, via direct action, universal humanitarian standards and the rule of law for all people, while at the same time campaigning for accountability for those that violate these standards.

    Papandreou noted that Greece was invited into the multi-state network after its experience with relief work in the strife-ridden Yugoslav province of Kosovo, where along with Canada it aided all the sides plagued by the violence in the area.

    "Today's global society means that security for one society necessitates security for all of the world's citizens. We see this with the Palestinian issue, where Israelis' security also depends on Palestinians' security," Papandreou said, stressing that tackling the problem of illegal immigration and eradicating organized crime are two other areas where HSN's "human-centered" approach to promoting security and respect of human rights can be employed.

    On his part, Canadian ambassador to Athens David Hutton briefed audience members at the foreign ministry's amphitheater over Ottawa's goals and positions vis-a-vis the HSN initiatives, and in light of an upcoming 4th ministerial meeting in Santiago, Chile.

    Hutton also praised Greece for its recent ratification of the Rome Statute to establish an international criminal court as well as a protocol against the proliferation of anti-personnel landmines.

    Additionally, he noted that to be effective the network must strengthen ties with NGOs, avoid duplicating efforts by other international organizations and emphasize women's role in developmental projects.

    Alexandros Rondos, the director general of the foreign ministry's "Hellenic Aid" department, said the network's aims to alleviate the "daily reality of fear" for millions of people around the world, including the Balkans, must be dealt with by all elements within a society, and not just by governments.

    Other speakers at the event included Amb. Stavros Lambrinidis, the director of the International Olympic Truce Center in Athens; Bishop of Regio Emmanuel, the director of the Orthodox Church's office in the European Union; Despina Katsivelakis, from the International Orthodox Christian Charities (IOCC) organization; Nikitas Kanakis, the vice-president of the Athens bureau of Medecins Du Monde; as well as Konstantinos Tzevelekos, the director of the Athens-based International Mine Initiative.

    The event was co-organized by the foreign ministry's department of the international developmental cooperation (Hellenic Aid) and the Hellenic Foundation for European and Foreign Policy (ELIAMEP), an Athens-based research and think tank.

    HSN members include including Austria, Canada, Chile, Greece, Ireland, Jordan, Mali, the Netherlands, Norway, Slovenia, Switzerland, Thailand and observer South Africa.

    HSN initiatives to date include efforts to fight AIDS, the trafficking of women and forced prostitution; a ban on anti-personnel landmines; the fight against small arms and light weapons smuggling as well as promoting sustainable development in states with a lack of internal cohesion, among others.

    [04] Government denies that EU lacked common stance on Euroforce in Seville

    Athens, 27/06/02 (ANA)

    Government spokesman Christos Protopapas dismissed a claim that there had been no common European stance on the Euroforce issue at the European Union summit in Seville, attributed to Turkish Foreign Minister Ismail Cem, on Wednesday.

    "It is clear that there was a common European position on this issue," he said.

    He also reminded reporters that Cem had declined to give a final answer when he had been informed of the EU's decision by EU Foreign Policy and Defense chief Javier Solana, until the new EU framework had been discussed by the Turkish government.

    FM briefs political parties on Euroforce issue developments: Foreign Minister George Papandreou on Wednesday met Greek Communist Party (KKE) General Secretary Aleka Papariga and briefed her on the results of the European Union's Seville Summit regarding the Euroforce, the embryonic rapid reaction force planned by the union.

    The meeting lasted approximately one and a half hours and focused chiefly on developments concerning the European military force, apart from general foreign policy issues.

    The Communist party leader later said that the Euroforce issue was not solved justly or in Greece's favor, while the European Union displayed tolerance toward Turkish demands, which it covered with neutral and general expressions.

    This left NATO to make a decision on the problems that arose from the creation of the European force, she added.

    She also pointed to Ireland's non-membership of the Euroforce and said it showed that there were other avenues open to Greece, such as using its veto or refusing to participate.

    She also opposed the joint statement by European leaders at Seville regarding the Middle East crisis, saying it was practically identical with the positions of US President George Bush.

    Later on Wednesday, the foreign minister briefed Coalition of the Left and Progress party leader Nikos Constantopoulos on the same issues, who afterwards accused the government of inconsistency.

    Prior to the Seville Summit, Constantopoulos noted, the government had completely rejected the 'Ankara document' that outlined the deal agreed with Turkey by the United States and Britain on this issue. At the summit itself, however, it had made additions, amendments and changes to the same document.

    He predicted that this would allow a 'war of interpretations' to arise, while he also accused the government of presenting an image to the public that was very different from reality and the commitments that it had made.

    Papandreou is scheduled to meet Dora Bakoyianni from main opposition New Democracy to brief her on the Euroforce issue on Thursday.

    [05] New Greek ambassador arrives in Washington

    WASHINGTON, 27/06/2002 (ANA - T. Ellis)

    Greece's new ambassador to the United States, George Savvaides, arrived in Washington on Wednesday to replace outgoing Greek envoy Alexander Philon, who completed a four-year term in the US capital 10 days ago and returned to Athens.

    Savvaidis has many years' experience in the handling of NATO issues and has served for 12 years in various posts at NATO headquarters.

    He has also been involved in the handling of Greek-Turkish relations and the Cyprus issue, while in the last two years he has served as general secretary at the Greek foreign ministry.

    The date on which the new Greek ambassador will present his credentials to US President George Bush will be announced later.

    Savvaidis was born in Athens in 1945 and joined the Greek diplomatic corps in 1972. He was Greece's permanent representative at NATO from 1966 until 2000, while previously (1991-1996) he was director of the Cyprus and Turkey department at the foreign ministry.

    From 1983 until 1987 he was advisor on political issues and afterward for defense issues (1987-1991) at NATO.

    He is well acquainted with the United States since he has served as Consul in Boston between 1976 and 1979, while he obtained a Masters degree from Harvard Law School. He has also served as General Consul at Skopje from 1981-1983.

    Savvaidis initially studied law and afterward political and economic science at Athens University.

    PM meets Vougias, PASOK candidate for Thessaloniki mayor

    Prime Minister Costas Simitis on Wednesday had a meeting with Deputy Transport Minister Spyros Vougias, who is also PASOK's mayoral candidate in the northern Greek city of Thessaloniki.

    As he left the meeting, Vougias said they had discussed his prospects of an election victory and expressed optimism that he would win the city back from its current conservative municipal leadership.

    He also said that his candidacy was essentially tantamount to a resignation from his ministerial post and that he was ready to depart whenever the prime minister asked him.

    [06] Alternate FM addresses diplomatic employees on EU Presidency

    Athens, 27/06/02 (ANA)

    Alternate Foreign Minister Tassos Giannitsis addressed a conference of foreign ministry diplomatic employees on Wednesday on the European Union's Greek Presidency in the first half of 2003.

    ''In essence, we are entering an extremely crucial phase for the European union and we have to do the political management for crucial changes in the EU. Which are they? First of all there are the institutional changes. Europe of the 15 is becoming Europe of the 25. But at the same time, because the scene is changing, it should be able to respond reliably, dynamically and effectively to the requirements of the era,'' he said.

    Giannitsis said the second sector is the economy, noting that one is currently seeing that the Stability Pact is being discussed and questioned, while there is an effort for alteration by major countries having an interest in this.

    ''The third sector is the social one. Issues such as immigration, employment, competitiveness and growth. How shall we maintain the social model through the pressures of globalization is a great ideological and political question. How we shall make decisions a political act on a daily level to enable citizens to receive positive results,'' he added.

    Giannitsis further said that it is not a figure of speech that since last September the EU's position has been downgraded in the field of international relations.

    [07] Giannitsis to visit Baltic states over the next week

    Athens, 27/06/02 (ANA)

    Alternate Foreign Minister Tassos Giannitsis departs on Thursday for a seven-day tour of the Baltic States -- Estonia, Latvia and Lithuania - and talks with the leaderships in all three of the EU candidate-states.

    In Tallinn on Thursday, Giannitsis will be received by Prime Minister Siim Kallas, as well as talks with Foreign Minister and Alternate FM Kristiina Ojuland and Alar Streimann, respectively. Additionally, he is set to meet with former Estonian president Lennart Meri.

    In Latvia, the Greek minister will be received by Prime Minister Andris Berzins, with talks scheduled with Foreign Minister Indulis Berzins, among others. He is also scheduled to visit the Parliament in Riga.

    In Lithuania, the final stop of his Baltic tour, Giannitsis will be received by Lithuanian President Valdas Adamkus, with talks to follow with Foreign Minister Antanas Valionis.

    He is also scheduled to deliver an address on the topic of "Europe's Future" at the Lithuanian Academy of Sciences.

    [08] Government to press ahead with new civil service wage scale

    Athens, 27/06/02 (ANA)

    The government was determined to go ahead plans for a new and fairer wage scale for the civil service, Interior Minister Costas Skandalidis said on Wednesday as he emerged from a meeting on the issue with Prime Minister Costas Simitis.

    While denying rumors in the press concerning the government's plans, he stressed that the new wage scale would have to coincide with other changes that would make wages realistic. These included measures that rewarded ability, promoted goal-oriented management, stamped out corruption and introduced more objective criteria for hiring new staff.

    He said that the new wage scale would be determined by two factors: collective labor negotiations and the state of Greece's economy, particularly with respect to the stability program submitted to the European Union.

    The minister said that the committee handling the issue had not yet submitted its proposals, but that a government team comprised of Finance Minister Nikos Christodoulakis, Deputy Finance Minister George Floridis, PASOK party secretary Costas Laliotis and himself would in the meantime go ahead with policy decisions related to the budget in general.

    He played down differences among the ministerial team, saying that there were isolated disagreements on procedural issues.

    As he left an earlier meeting with the prime minister, Christodoulakis said that the government's goal was to promote workers' demands in the framework of economic stability and with the prospect of improving services to citizens and modernizing public administration.

    Commenting on a meeting between the prime minister, Christodoulakis and Skandalidis on Tuesday, meanwhile, government spokesman Christos Protopapas urged reporters not to ''make issues where there were none'' in response to questions claiming that Christodoulakis and Skandalidis had clashed over civil service wages policy.

    ''Our goal was to exchange views on the start of negotiations for a collective labor agreement with the civil service union ADEDY, in order to secure the interests of workers and promote an effective civil service. These negotiations must, however, move within the framework of Greek economic indices,'' he stressed. He also underlined that the final word in the collective agreement process belonged to the government.

    [09] Pay rises to move within stability program, government says

    Athens, 27/06/02 (ANA)

    The government's steady goal was to promote workers' demands in the framework of economic stability and with the prospect of improving services to citizens and modernizing the public administration, Economy and Finance Minister Nikos Christodoulakis said on Wednesday.

    Speaking to reporters, after a meeting with Prime Minister Costas Simitis to discuss progress of a Third Community Support Framework program and civil servants' pay demands, Christodoulakis said that the government would send all account reports to the European Commission by the end of June, formally closing a Second Community Support Framework program for Greece.

    He said that the government was still awaiting capital inflows, worth around 500 billion drachmas, from a Second CSF.

    [10] Minister says Greek economy experiencing period of growth

    Athens, 27/06/02 (ANA)

    Finance and Economy Minister Nikos Christodoulakis said on Wednesday the Greek economy is experiencing a period of growth, which is more intense than that of the European Union member-states, and in this way is not only achieving convergence but the requirements of the eurozone as well.

    Christodoulakis, who was speaking at a dinner hosted by the Foreign Press Association, insisted on the Greek economy's growth potential and said that if economic growth is not continued and intensified in coming years he believes all other policies will retreat.

    The main characteristic of the country's growth course is the high rate of investments in Greece, which is moving at much higher levels than those of member-states of both the EU and the OECD.

    Christodoulakis said the rate of investments is a supply we should strengthen and safeguard. However, he also referred to the danger of inflation, which remains high in Greece compared to other eurozone member-states.

    He said inflation corrodes the Greek economy's competitiveness and termed as ''scourges'' the deficit in the trade balance and unemployment, which is at higher, levels than the average of eurozone and EU member-states.

    He went on to say that the denationalization program will be continued in coming months because reaching the levels of other European countries is imperative.

    Christodoulakis said denationalizations amount to about 1.3 percent of GDP on an annual basis. It is a considerable performance, which shows the depth of structural changes in the Greek economy.

    Greece is following a policy of extensive denationalizations, he said, adding that they have now acquired new characteristics since they transfer property rights to international investors.

    [11] Greek exports to Turkey rise in Jan-April

    Athens, 27/06/02 (ANA)

    Greek exports to Turkey totaled 102.3 million US dollars in the first four months of 2002, from 65.5 million dollars in the same period last year, while imports totaled 149.3 million US dollars from 134.7 million over the same period, evidence of an improving trade balance, which was in much more favor of Turkey in 2001.

    Greek exports to Turkey totaled 35.7 million US dollars in April, up from 11.9 million the same month in 2001, while imports rose to 43.7 million US dollars from 37.4 million over the same month.

    Official figures said that in 2000 trade transactions between Greece and Turkey totaled 797.4 million US dollars, a record volume, with imports and exports fairly balanced over the year (403.2 million dollars and 394.2 million dollars, respectively).

    This balanced trade was distorted significantly in 2001, with Greek exports to Turkey falling to 242.6 million US dollars while imports jumped to 440.4 million.

    April's figures show that the record trade volume of 2000 will not be broken this year, while the bilateral trade balance will improve.

    [12] Bilateral shipping agreement discussed by minister, Indonesian envoy

    Athens, 27/06/02 (ANA)

    The prospect of working out a bilateral shipping agreement based on the principle of free and fair competition as well EU-Indonesia trade relations dominated talks here on Wednesday between Greece's merchant marine minister and Indonesia's ambassador to Athens.

    The meeting between Minister George Anomeritis and Amb. F.X. Lopes da Cruz comes in light of the fact that Athens and Jakarta do not have merchant shipping and tax agreements.

    According to international figures, Indonesia has 2,461 vessels listed on its registry (30th worldwide), while it features some 130 noteworthy ports amongst its numerous islands. Moreover, the EU bloc ranks as the archipelago nation's second-largest trading partner behind Japan.

    According to reports, Anomeritis also thanked the Indonesian envoy for Jakarta's support of Efthymios Mitropoulos' candidacy for the secretary general spot at the International Maritime Organization (IMO).

    [13] Chinese government delegation visits finance ministry

    Athens, 27/06/02 (ANA)

    An eight-member delegation from the Chinese government arrived in Greece on Wednesday at the invitation of Deputy Finance Minister George Floridis in order to exchange views with Greek officials on issues such as drafting budgets, social insurance policy and regional development.

    The delegation was led by Chinese Deputy Finance Minister Xiao Jie.

    During the first day of their visit, the delegation visited the Greek finance ministry and was shown how Greece drafts and implements its state budget, with discussion focusing on structural changes for this sector planned by the ministry.

    The Chinese delegation said it was interesting in continued cooperation and regular briefings on the results of the budgetary changes being initiated by the two countries. It also extended an official invitation to Floridis to visit China.

    The visiting delegation is also scheduled to visit the Labor and Social Insurance ministry and the Bank of Greece.

    [14] Tourist arrivals down 3.0 percent in 2002, report says

    Athens, 27/06/02 (ANA)

    Tourist arrivals in Greece are expected to decline by 3.0 percent this year compared with 2001, the Union of Greek Tourist Enterprises (SETE) said on Wednesday.

    Presenting a report on "Greek tourism 2010: strategic targets", SETE board stressed that tourist arrivals at the country's five biggest airports (Heraklion, Rhodes, Corfu, Kos and Thessaloniki accounting for 50 percent of international arrivals) was down 8.0 percent in the first five months of 2002, while figures for June were also discouraging.

    SETE said that Greek hotels would be full in the period July-September, traditionally the season peak period, but noted that in order to achieve last year's arrival figures a 14 percent increase in tourist arrivals must he achieved in the months from October to December, "a not likely prospect."

    SETE said in its report that Greek tourism should aim on attracting 19.4 million tourist arrivals and 15 billion US dollars in revenues by 2010, raising its market share in Europe to 3.68 percent from 3.0 percent in 2000, and its global market share to 1.92 percent from 1.87 percent currently.

    The report also said that the average overnight stay should remain steady at current levels of 10 days per tourist in the next eight years, and that the country would need 128,000 new hotel beds.

    SETE also said that the average per tourist spending should rise to 773 US dollars by 2010 from 737 dollars in 2000.

    The report urged for a series of measures to improve the country's tourist infrastructure, with creation of 46 golf courses, 15 autonomous conference centers, 24 sea therapy centers and 42 marinas.

    [15] Intracom studies laboratory installations to be inaugurated

    Athens, 27/06/02 (ANA)

    The inauguration of the Intracom Group's Athens Information Technology (AIT) Free Studies Laboratory's installations in Paiania, outside Athens, will take place on July 2.

    The beginning of lessons of the postgraduate studies' first cycle is set for August 2002.

    AIT and Intracom Group Vice President Constantine Demetriades told a press conference that AIT provides postgraduate studies programs in the sectors of telecommunications and informatics and conducts scientific research.

    The cost of completing AIT's installations amounted to five billion drachmas, while Demetriades said the annual cost of the establishment's operation will amount to 2-2.5 billion drachmas.

    [16] Greek stocks follow world bourses lower on Wednesday

    Athens, 27/06/02 (ANA)

    Greek stocks quickly reversed Tuesday's rally ending with sharp losses on Wednesday with sentiment in the Athens Stock Exchange undermined by a turmoil in international markets following news of a new accounting scandal with US telecoms giant WorldCom.

    The general index fell 1.69 percent to end at 2,205.06 points with turnover a moderate 112.85 million euros.

    All sector indices ended lower with the Retail, Metal, Textile, Construction and IT indices recording the heaviest percentage losses of the day (2.90 percent, 2.80 percent, 2.75 percent, 2.67 percent and 2.59 percent, respectively).

    The FTSE/ASE 20 index for blue chip and heavy traded stocks fell 1.48 percent, the FTSE/ASE MID 40 index eased 1.98 percent and the FTSE/ASE SmallCap 80 index fell 1.79 percent.

    Broadly, decliners led advancers by 288 to 37 with another 26 issues unchanged.

    Equity index futures finish lower: Equity index futures on the Athens Derivatives Exchange finished lower on Wednesday, with contracts on the high capitalization index showing a normal premium and on the medium cap index a 1.0 percent discount.

    Turnover was 58.5 million euros.

    The underlying FTSE/ASE-20 index for heavily traded stocks and blue chips lost 1.48 percent; and the underlying FTSE/ASE-40 for medium capitalization stocks dropped by 1.98 percent.

    Bond prices down in very heavy trade: Bond prices in the domestic secondary market on Wednesday finished lower in very heavy trade focusing on five-year paper.

    The Greek benchmark 10-year bond showed a yield of 5.21 percent, and the spread over the corresponding German bund was 30 basis points.

    Turnover through the central bank's electronic system totaled 3.3 billion euros.

    Sell orders accounted for two thirds of trade.

    [17] IOC officials satisfied with Olympic Games preparations

    Athens, 27/06/02 (ANA)

    A small group of International Olympic Committee (IOC), headed by IOC Coordinating Committee President Denis Oswald, on Wednesday began checking progress achieved in preparations for the 2004 Athens Olympic Games.

    According to initial reports from the Organizing Committee, satisfaction is prevailing over the course of preparations towards the Olympic Games, but certain pending issues still remain which have to be handled.

    A Sports Secretariat official provided a briefing on the course of the sports installations construction and admitted that there are some delays at Liosia, the Firing Range and tennis facilities due to procedures concerning the selection of contractors but offered assurances that whatever loss in time will be covered immediately.

    The IOC officials expressed satisfaction over the presentation of traffic measures during the Games, but noted that efforts should be intensified to have the public briefed on new traffic conditions to enable a change in habits as of now.

    IOC official holds talks with Olympic coordination committee: The International Olympic Committee's (IOC) Coordinating Committee President Denis Oswald held talks with the interministerial coordination committee for the Olympic Games' preparation and Athens 2004 Organizing Committee (ATHOC) President Gianna Angelopoulos Daskalaki on Wednesday.

    Speaking afterwards, Culture Minister Evangelos Venizelos said the overall conclusion on the course of the country's preparation in light of the 2004 Athens Olympic Games is absolutely positive.

    ''There are problems, but we should show attention and diligence. the course towards 2004 is identified with the country's modernization plan. During today's meeting we discussed the construction projects, sports issues and hospitality, while Mr. Oswald showed interest in road projects such as the Vari-Koropi one,'' Venizelos said, who was the only person to make statements.

    [18] About 604 million euros to be provided for culture by 2006

    Athens, 27/06/02 (ANA)

    About 604 million euros will be provided for the culture sector in the country by 2006 and will be primarily allocated through the ''culture'' operational program.

    Funds will be used to protect and promote cultural heritage and then for the development of modern Greek culture, the development of the culture sector in the informatics society and to strengthen and specialize human potential.

    These issues were raised on Wednesday during the second meeting of the ''culture'' operational program's monitoring committee, held at the Athens Byzantine and Christian Museum.

    This operational program, constituting one of the most important means for implementing overall development strategy in the culture sector, offers three priorities.

    They are the protection and promotion of cultural heritage, the development of modern culture and technical aid for the undertaking and the taking of measures for the program's management, operation, monitoring and control.

    [19] Government reassuring about safety of Greek hydrofoils

    Athens, 27/06/02 (ANA)

    Safety on board Greece's hydrofoil fleet was not an issue, Merchant Marine Minister George Anomeritis reassured the public on Wednesday, after two hydrofoil operators were charged with flouting safety regulations.

    The minister said the charges referred to earlier transgressions by the two companies that had occasioned new government measures and a bevy of fines, and that Greek hydrofoils were now fully equipped.

    Charges of disrupting ship safety with potential danger to the public and for the issue of fake certificates and related offences were filed against the companies HFD and Falcon SA by a Piraeus public prosecutor on Tuesday.

    The charges were based on reports filed by two court-assigned expert investigators called in to inspect hydrofoils owned by Falcon the since renamed Minoan Flying Dolphins company.

    [20] European Commission cautions Greece on aircraft security

    BRUSSELS (ANA - V. Demiris)

    The European Commission issued a warning to Greece on Wednesday, the last stage before resorting to the European Court, regarding the inadequate implementation of European Union legislation on security checks on aircraft.

    More specifically, the European Commission sent the warning to Greece for failing to apply certain rules concerning the certification and control of the proper functioning of aircraft maintenance units.

    If Greece fails to provide a satisfactory reply over a period of two months from receiving the warning, the Commission has the right to decide on referring the issue to the European Court.

    [21] Ecumenical Patriarch Bartholomew arrives in Volos

    Athens, 27/06/02 (ANA)

    Ecumenical Patriarch Bartholomew arrived in the town of Volos, eastern Greece, on Wednesday at the invitation of the University of Thessaly and will be proclaimed an honorary lecturer on Thursday night.

    Bartholomew arrived at Anchialos military airport and was welcomed by Archbishop of Athens and All Greece Christodoulos, the Metropolitan of Dimitriada Ignatios and local authorities.

    Apart from being proclaimed an honorary lecturer at the university, the Ecumenical Patriarch will also be inaugurating pupils' holiday camps and return to Istanbul on Friday.

    [22] Scientists to recover fossil tree trunks from Lesvos seas

    Athens, 27/06/02 (ANA)

    Scientists at the Petrified Forest Museum on the island of Lesvos are planning a major operation this coming Monday to bring dozens of fossil tree trunks currently submerged in the seas around the island to the surface.

    The project is being funded by the Aegean ministry and aims to conduct research on the underwater section of the Petrified Forest, which has not so far been scientifically investigated.

    Once brought to the surface, the fossil trunks will be transported to the museum, where they will be put on display, while they are expected to be of great interest to both lay visitors and the scientific community.

    [23] Papapetrou: The Belgian constitution must be discussed in its entirety

    NICOSIA (CNA/ANA)

    Government Spokesman Michalis Papapetrou has said that President Glafcos Clerides is willing to discuss the Belgian constitution as a whole with Turkish Cypriot leader Rauf Denktash, in the framework of the UN-led direct talks and not selectively as Denktash proposes.

    Speaking to the press after Wednesday's cabinet meeting, Papapetrou said that no one has ever said we would copy this constitution and implement it as it stands in Cyprus.

    ''When we say that we will look into it as a whole, we mean that we should negotiate on the basis of its concept and not selectively on specific articles as Denktash wants, in order to promote its partitioning plans,'' Papapetrou stressed.

    The spokesman said the National Council, the top advisory body to the president on the handling of the Cyprus problem, will have to decide, when the need arises, what is acceptable and can be implemented in Cyprus, taking into consideration the views of the European Union which demands that Cyprus speaks with one voice in Europe and is in a position to implement EU laws and regulations.

    The government spokesman confirmed that the territory issue was on the agenda of Tuesday's meeting between President Clerides and Denktash. The other three core issues discussed at the talks are governance, security and property.

    ''Denktash listened to the positions outlined by the president and said he would respond to them later,'' Papapetrou said.

    Invited to comment on the fact that the end of June target date is closing in, Papapetrou said that the UN Secretary General should take that into consideration and see why the June date has expired without any results.

    Denktash first mentioned the June target date, saying an agreement could be reached by the end of this month. Clerides, the UN and others have adopted Denktash's approach, who in the recent past has backtracked on his initial position.

    [24] Bush: We are committed to efforts for a settlement in Cyprus

    NEW YORK (CNA/ANA)

    The United States remains committed to the United Nations effort to find a just and lasting settlement to the Cyprus problem, US President George Bush said in a letter attached to a progress report to Congress on the situation in Cyprus, covering the period April 1 - May 31 2002.

    The report, sent on June 24, noted US support for the Greek Cypriot and Turkish Cypriot sides in meeting ''their stated objective of a comprehensive settlement by the end of this month.''

    Bush said that direct talks on the island between the leaders of the Greek Cypriot and Turkish Cypriot communities Glafcos Clerides and Rauf Denktash continue under UN auspices as they strive to meet their stated objective of a comprehensive settlement by the end of the month.

    The US President said that as in past reporting periods, US State Department's Special Coordinator for Cyprus Thomas Weston and US Ambassador to Cyprus provided diplomatic support to the peace process.

    Clerides and Denktash launched direct talks in mid-January this year, with a view to negotiate until a settlement is achieved on the problem of Cyprus, divided since 1974 when Turkey invaded and occupied its northern third.


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