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Athens News Agency: Daily News Bulletin in English, 03-04-12

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

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

April 12, 2003

CONTENTS

  • [01] Turkish invasion of N. Iraq would be 'extremely dangerous development, DM warns
  • [02] High-ranking meeting focuses Aug. 16 signing ceremony
  • [03] DM speaks of EU's defense policy Rhodes EU meeting
  • [04] EU communication ministers discuss European information society on Friday in Crete
  • [05] US House of Reps calls for new UN initiative on Cyprus
  • [06] EU joint plan appeals to Turkish Cypriot leadership to reconsider its position
  • [07] Gov't: Cyprus solution only via UN framework
  • [08] Deputy FM represents EU in UN Security Council open meeting
  • [09] Deputy FM and Azeri president discuss cooperation with
  • [10] Evert calls on PM to outline EU stance vis-a-vis N. Iraq to Turkey
  • [11] FinMin to represent Eurogroup, ECOFIN in G-7, IMF meetings
  • [12] ND leader presents party program on farming sector
  • [13] OLAF says 3.4 mln euro ''either misused or incorrectly obtained'' by Greece
  • [14] Greek weekly economic review
  • [15] Greek bond market March report
  • [16] Greece aims for quality shipping
  • [17] Oil prices to fall sharply in 2nd half of 2003, Tsohatzopoulos says
  • [18] Trade unions call protest, work stoppage for Wednesday
  • [19] Greek stocks end week with a net gain of 4.07 pct
  • [20] Greece donates 250,000 euros for humanitarian aid to Iraq
  • [21] First shielded witness appears at 'N17' trial
  • [22] Dissent among UN Security Council members due to differences on principles
  • [23] Christofias says Russia and Cyprus maintain coinciding views
  • [24] Italy supports Cyprus' EU accession, Antonione says

  • [01] Turkish invasion of N. Iraq would be 'extremely dangerous development, DM warns

    Athens, 12/04/2003 (ANA)

    A prospective invasion of northern Iraq by Turkey would be an ''extremely dangerous development'', Greece's national defence minister Yannos Papantoniou warned on Fri-day, and called on the US to exercise all its influence to avert such a prospect.

    Papantoniou, whose country currently holds the rotating EU presidency, also stressed that (preservation of) Iraq's territorial integrity comprised a prerequisite for Iraq's passage to a democratic governance.

    Turkey, he said, must remain within its own borders.

    Replying to pres questions, Papantoniou reiterated that the United Nations must play a substantive role in the reconstruction of Iraq. In that framework, he added, ''we will work toward the Greek companies receiving a portion of what is owed to them (from Iraq after undertaking reconstruction projects following the first Gulf War in 1991) and their substantive contribution to the reconstruction of Iraq''.

    Papantoniou was speaking on the sidelines of an informal meeting of the armaments general directors of the EU defence ministries, which is discussing the prospects for European industrial unification in the defence sector.

    [02] High-ranking meeting focuses Aug. 16 signing ceremony

    Athens, 12/04/2003 (ANA)

    The final organisational details for next week’s ceremony in Athens where 10 EU Acceding Countries will sign their Accession Acts was the focus of a high-ranking meeting here on Friday, chaired by Greek Prime Minister Costas Simitis.

    A Convention for the Future of Europe session, set to convene the same day next Wednesday in the Greek capital, was also discussed at Friday’s meeting.

    Besides Simitis, the briefing was attended by Alternate FM Tassos Yianntsis and Deputy Press Minister Telemahos Hytiris. Foreign Minister did not attend the meeting due to an illness.

    Afterwards, Hytiris called April 16 a “historic day” for Europe, and particularly Greece because of Cyprus accession to the European Union.

    Asked about the prospect of protests being staged in Athens’ streets during the ceremony, the spokesman said there was no issue of any ban being instituted, while expressing his hope that all sides involved will demonstrate a high degree of maturity.

    Earlier, government spokesman and Press Minister Christos Protopapas said the 16th of April is a day of "celebration, Cyprus becomes a member of Europe ... this is a great national success and all Greeks should consider this event as something positive. With this expansion the borders of Europe reach Russia."

    He also reiterated that anyone wishing to protest or demonstrate is free to do so.

    Diamantopoulou: this greatest EU enlargement calls for the greatest deepening: European Commissioner for Employment and Social Affairs Greece's Anna Diamantopoulou in statements made on the eve of the upcoming Enlargement of the Union said that the ''broadest Enlargement in the history of Europe should be accompanied by the greatest deepening.''

    The EU on 16 April in Athens will sign Accession Acts with Cyprus, the Czech Republic, Estonia, Hungary, Latvia, Lithu-ania, Malta, Poland, Slovakia and Slovenia foreseen to join the Union on 1 May 2004.

    ''Throughout the history of the European Union, each enlarge-ment was accompanied by a significant in depth ex-pansion in the contents of the European integration'', Dia-mantopoulou said, adding ''The addition of new members to the Union each time did not simply safeguard the aquis commu-nitaire, it went event deeper with new responsibilities, new authorities and new policies. At least, this was what has been taking place since 1981 when Greece joined, up until now''.

    ''In 1985, following the accession of Spain and Portugal, we created a single market. In 1995, we welcomed Sweden, Finland and Austria amid on-going efforts for the creation of the euro. Today, we are welcoming ten new member-states including Cyprus and at the same time we have assumed a responsibility to develop a European Constitution which will guarantee that the Union along with the market and the currency will be responsible vis-a-vis fundamental democratic rights and a strong presence on the global scene'', the commissioner concluded.

    [03] DM speaks of EU's defense policy Rhodes EU meeting

    Athens, 12/04/2003 (ANA)

    Defense Minister Yiannos Papantoniou on Friday called for the strengthening of the European defense, overcoming the national inhibitions and selfish attitudes.

    Inaugurating the informal meeting of the European Union member-states' General Directors on armaments that is taking place in Rhodes, Papantoniou spoke of the actions of the Greek presidency concerning the operational readiness of the European military force within 2003.

    He added that the issue has been concluded on a political level and on an armaments level and that during the May Summit the financial level will also be concluded.

    [04] EU communication ministers discuss European information society on Friday in Crete

    Athens, 12/04/2003 (ANA)

    European Union communication ministers on Friday opened their two-day conference in Herakleion, Crete, which was organised within the context of the Greek EU presidency, to discuss the need for measures on a technical, legislative and institutional level vis-a-vis the question of exclusion of large segments of the European population from the information society.

    Interlocutors placed special emphasis on problems facing vulnerable social groups, such as the disabled, an approach also prompted by the fact that the Greek presidency coincides with the launch of the European Year for persons with special needs.

    Greece's Transportation and Communications Minister Christos Verelis, in his opening address at the conference, shortly referred to the explosive technological developments that have formulated new ways of communication and warned against the danger of exclusion of a large segment of the society, which either did not have the preconditions to access new technologies or could not benefit from them.

    Verelis said that new initiatives such as continuous education of minority groups in the information sector, the dissemination of information on the opportunities that are offered, the development of the infrastructure at public services and a faster and cheaper access to the Internet were needed to confront such problems.

    ''The objective of the Greek EU presidency is the processing of measures within the framework of the Lisbon resolutions, which would ensure better conditions for Internet access by all citizens in all parts of the public and private sectors''.

    The first session of the EU ministers concluded with a number of resolutions on measures that are needed, including necessary actions for the creation of an Information Society equally open and accessible to all citizens, institutional measures on national and European levels, measures taken by member states through national operational programmes vis-a-vis the Information Society, commitment on establishing the necessary infrastructure for Euro-zone access and to encourage the industrial sector in the development and distribution of products, services and technological solutions.

    [05] US House of Reps calls for new UN initiative on Cyprus

    WASHINGTON 12/04/2003 (ANA - T. Ellis)

    The US House of Representatives on Thursday unanimously adopted a resolution calling for the assumption of a new initiative by UN chief Kofi Annan on the Cyprus issue and expressing its will to back every effort for finding a just and viable solution to the problem.

    It also called on the US government become active again in that direction, while essentially casting blame on Turkish Cypriot leader Rauf Denktash for the collapse of Annan's recent initiative and expresing regret over Denktash's rejection of the Annan plan.

    With this stance, it said, Denktash had ''denied the Turkish Cypriots the opportunity to determine their own future''.

    The resolution, which was introduced by Florida Congressman Michael Bilirakis, was unanimously adopted with 422 votes for and none against.

    In a statement after the voting, Bilirakis said that ''the UN peace process, which is fully supported by the United States and the international community, attempted to reunite Cyprus as a single, sovereign, bizonal federation, but stumbled up against Mr. Denktash's stance''.

    He also noted that Cyprus president Tassos Papadopoulos had appeared prepared to put the Annan plan to a referendum, but Denktahs had not been willing to do so.

    Bilirakis expressed his disappontment at the failure of the UN secretary general's recent effort, and stressed the need for the Cyprus solution efforts to continue.

    The resolution further calls on ''the governments of Turkey and Greece to do everything possible to support the search for a settlement''.

    [06] EU joint plan appeals to Turkish Cypriot leadership to reconsider its position

    BRUSSELS 12/04/2003 (ANA - V. Demiris)

    A common position plan by the ''15'' European Union countries on Friday appealed to the Turkish Cypriot leadership ''to recon-sider its position'' and to Turkey ''to really support efforts for a just, viable and workable solution to the Cyprus issue'', in light of the EU-Turkey Association Council to be held in Luxembourg on Tuesday.

    On the question of Cyprus, the ''15'' express their ''profound regret over the failure of the UN secretary general's efforts to find an overall settlement for the Cyprus issue'', adding that ''the EU warmly supports the continuation of the secretary general's good services mission and of negotiations based on his proposals.''

    Referring to Greek-Turkish relations, the EU notes with satisfaction progress achieved in past years and the improved climate in relations between the two countries, adding that ''the improvement in the climate led to an increase in bilateral transactions.''

    The greatest part of the 22-page plan is dedicated to Turkey's accession course and the achievement of political and economic criteria, in light of the decision to be taken by the European Council at the end of 2004 as to when accession negotiations will get underway.

    [07] Gov't: Cyprus solution only via UN framework

    Athens, 12/04/2003 (ANA)

    The Greek government on Friday reiterated that the UN Security Council insists that any Cyprus solution be found via a United Nations framework, while it also recognises that the Annan peace plan remains the only basis for such a solution.

    Government spokesman Christos Protopapas also noted that the Security Council, therefore, recognises that the plan is up for negotiation.

    The comments came after Athens rejected a call by Turkish leadership for talks over a Cyprus solution outside the UN framework.

    [08] Deputy FM represents EU in UN Security Council open meeting

    NEW YORK 12/04/2003 (ANA - P. Panayiotou)

    Deputy Foreign Minister Ioannis Magriotis on Friday supported the strengthening of the United Nations' role, during his address to the open meeting of the Security Council.

    Magriotis represented Foreign Minister George Papandreou in the UN meeting entitled ''The Security Council and the regional organizations: confronting the new challenges for international peace and security''.

    He addressed the council, representing the European Union's council of foreign ministers, as well as the ten new countries that are under the process of entering the Union and the two that are candidate member-states.

    Speaking of the EU's experience and of a series of regional problems, where the United Nations mission was significant and determining, he noted the basic principles on which international law and international security should be based on.

    ''The first and most basic (principle) is the recognition that the basic responsibility for the maintenance of peace and stability lays with the United Nations. The EU aims at supporting the Security Council, for the implementation of its tasks according to the Charter of the UN,'' Magriotis said.

    ''For this reason we paid much attention to the political side, as well as the military for the determination of regions of immediate priorities and of targets,'' he said.

    He stressed that the EU strongly supports the peace missions of the United Nations, ''which prevent the repeat of conflicts and secure the future peace and stability''.

    ''In this light we believe that the United Nations should play a central role in the post-war Iraq, as well as in other post-war cases,'' he said.

    [09] Deputy FM and Azeri president discuss cooperation with

    EU BAKU 12/04/2003 (ANA - F. Karaviti)

    Deputy Foreign Minister Andreas Loverdos and Azeri President Heydar Aliyev discussed the effort for rapprochement between the two countries and prospects of closer cooperation between Azerbaidjan and the European Union here on Friday.

    Loverdos referred to humanitarian aid programmes amounting to 110,000 euros to be funded by Greece and to the three-year development programme which has been prepared and will be implemented in 2004, and as part of which only during the first year at least one million dollars will be disbursed for the health, education and construction sectors.

    Aliyev stressed the importance attributed by his country to contact with Europe and called on Greece, and from the post of EU president as well, to exercise every possible influence to enable the interest of Europe to turn to Azerbaidjan.

    On the question of natural gas, the Azeri president hailed Greek interest in its transportation to Greece, adding that ''if we send the natural gas to Greece, paths are opened for us to send it to all of Europe as well.''

    Earlier, Loverdos held meetings with Azerbaidjan's Prime Minister Artur Rasizade and Foreign Minister Vilayat Quliyev, while he also signed an economic, technological and industrial cooperation protocol with the Azeri government.

    The Greek delegation will be leaving for Athens in the early hours of Saturday.

    [10] Evert calls on PM to outline EU stance vis-a-vis N. Iraq to Turkey

    Athens, 12/04/2003 (ANA)

    Former minister and New Democracy leader Miltiades Evert on Friday called on Greek Prime Minister Costas Simitis, in his capacity as the EU president-in-office, to warn Ankara that any incursion by Turkish troops into northern Iraq would go against the Union’s principles and positions.

    He also called on Simitis to make it clear to Turkish leadership that such an action would also drastically complicate Turkey’s efforts to join the EU.

    [11] FinMin to represent Eurogroup, ECOFIN in G-7, IMF meetings

    WASHINGTON 12/04/2003 (ANA - T. Ellis)

    National Economy and Finance Minister Nikos Christodoulakis is expected to arrive here on Friday to participate in the G-7 conference and the International Monetary Fund's spring meeting, representing the Eurogroup and ECOFIN, as Greece holds the six-month rotating EU presidency.

    On Saturday, the minister is expected to represent the Eurogroup in the G-7 bankers' meeting that will take place at Blair House, while both on Saturday and Sunday he is expected to attend the IMF meetings here.

    [12] ND leader presents party program on farming sector

    Athens, 12/04/2003 (ANA)

    Main opposition New Democracy (ND) party leader Costas Karamanlis on Friday presented his party's proposed policies in the farming sector in Greece, while addressing the Farmers' Cooperative of Thebes, central Greece.

    Karamanlis called on farmers to turn to more quality, rather than quantity farming methods and crops so that Greek products may gain lost ground and promote the revitalization of rural areas in Greece.

    He promised that his party would stand by farmers and will have as its basic priority an aggressive agricultural policy, stressing that acting contrary to the government ND would abandon empty words and stop deceiving farmers, recognizing mistakes that were made in cases such as that of cotton regulations.

    ''It is difficult to overturn the institutional decisions of the European Union, but we will fight and we will fight hard,'' he said.

    He called on the government, in light of discussions for the revision of the community's agricultural policy, to wage a struggle so that Mediterranean products may be tabled for negotiations and discussions.

    Karamanlis added that the government should act for these products along with other EU countries of the south, since it would be difficult to table them once the discussion on the products of the northern countries has come to an end.

    He stressed that there cannot be a strong country with a deserted countryside and proposed that the ministry of agriculture undertake the role of planning and not a bureaucratic one, adding that if he is elected to govern the country he would rename the ministry calling it ''Ministry of Agricultural Development and Foodstuffs''.

    He also focused on issues such as the bureaucratic institutions that disburse subsidies, credit and those that promote the farming goods of Greece.

    [13] OLAF says 3.4 mln euro ''either misused or incorrectly obtained'' by Greece

    BRUSSELS 12/04/2003 (ANA - V. Demiris)

    The European Anti-fraud Office (OLAF) has recently closed an investigation into misuse of European funds in Greece of 3.4 million that was ''either misused or incorrectly obtained'', corresponding to part of funding from the European Agricultural Guidance and Guarantee Fund destined for the creation of ecological parks in Greece.

    OLAF has conducted an investigation, initiated on 21 January 2002, in cooperation with the Greek authorities and the competent services of the European Commission and after on-the-spot checks carried out on 5 undertakings in Greece and on a company registered in the UK, it was established that a minimum of 3.4 million euro was either misused or incorrectly obtained.

    OLAF has forwarded its file in the matter to the Directorate General Agriculture of the European Commission to allow it to put in place the clearance of accounts procedure and to carry out any corrections it may feel appropriate in relation to the future of the programme. OLAF has also transmitted its findings to the competent authorities in Greece, in particular the judicial authorities.

    [14] Greek weekly economic review

    Athens, 12/04/2003 (ANA)

    International markets are focusing back to economic fundamentals, their prospects and company results seeking new directions as the war in Iraq seems to end with US-led troops advancing in Baghdad.

    Greek Prime Minister Costas Simitis, addressing a Greek Tourist Enterprises general assembly, said that the country was moving with caution, ensuring its national interests and with the economy faced with the risk of recession in the European Union. Mr Simitis stressed that the government would not adopt austerity policies, nor take any emergency measures that would increase uncertainty among investors and workers.

    In other headline news this week, Greek businessmen, in a meeting with Bank of Greece governor Nikos Garganas, expressed the worries over delays in promoting structural changes in the country and an expected decline in investments after the Athens 2004 Olympic Games.

    Foreign investors continued raising their share in the domestic equity market in the first quarter of 2003, with their share in the Athens Stock Exchange rising to 29.42 percent on March 31, 2003 from 28.65 percent on December 31, 2002, while Greek investors' share in the domestic market fell to 70.58 percent from 71.34 percent, respectively.

    Greek consumers' complaints over rising cost of living in the country remained at the top of a list of consumer complaints filed with the Consumers' Institute (INKA) in the first quarter of 2003. A total of 32,921 complaints were filed in this period.

    Greek annual inflation slowed to 4.1 percent in March from 4.3 percent in February, reflecting lower international and retail fuel prices in the month, the National Statistics Service said.

    Exports of manufactured products, as a percentage of total Greek exports, remained unchanged in the 1990s, a report by the Panhellenic Exporters' Union said in the week. The report said, however, that their geographical orientation and sector composition recorded fundamental changes over the 10-year period, with exports of manufactured goods moving towards more volatile markets with uncertain prospects. Exports of high technology products, however, showed more dynamism significantly raising their share in total Greek exports.

    The Greek merchant shipping fleet is the biggest in the world, accounting for 18 percent of total transport capacity of the global merchant fleet, a National Bank's report said. The report said that the ocean shipping sector accounted for 2.5 percent of the country's gross domestic product and covered 1.5 percent of total workforce.

    Greece's Capital Markets Commission announced the imposition of penalties, worth 173,600 euros, on several listed companies and main shareholders for breach of securities legislation.

    Greece's retail sales index, in value terms, jumped 10.5 percent in January compared with the same month last year, National Statistics Services said.

    [15] Greek bond market March report

    Athens, 12/04/2003 (ANA)

    Geopolitical factors continued to weigh on the global economy and the markets in March, the Bank of Greece said on Friday.

    In its monthly report on the domestic bond market, the central bank said that on the outbreak of hostilities in Iraq, fixed-income security yields rose significantly as investors anticipated a swift end to the war, while dismissing published disappointing economic data. Earlier in the month, the European Central Bank had trimmed interest rates by a quarter of a percentage point.

    Greek government bonds followed the trends in the eurozone. Price volatility rose as trading activity was affected by the news from the battlefield. On the electronic secondary securities market (HDAT), prices initially soared, reaching new record highs on 11 and 12 March. The price of the 10-year benchmark bond (20.5.2013) rose at 104.42, 121 cents higher than at the end of February, and the price of the 20-year bond (22.10.2022) at 115.04, 175 cents higher respectively. Gains, however, were relinquished gradually, on diminishing uncertainty over the course of war events. At the end of March, prices had declined in the range of 74 (5-year bond, 18.4.2008) and 159 cents (20-year bond, 22.10.2022) compared to a month earlier. The 10-year benchmark bond price was 102.41, to yield 4.29%, compared to 103.21 (4.21%) respectively. The 10-year average yield spread over Bunds narrowed to 23 basis points (bps) in March from 28 bps in February.

    The yield curve flattened while shifting upwards as yields at the short end of the curve rose more than at the longer. The 3- to 20-year bond yield spread narrowed to 203 bps at the end of March, from 226 bps at the end of February. The new 3-year bond yield was up at 2.92% on 31 March, from 2.61% at issue (14.3.2003), and the 20-year bond yield up at 4.95%, from 4.83% on 28 February.

    HDAT turnover reached EUR 51.14 billion, compared to EUR 47.04 billion in February and EUR 37.32 billion in March 2002. Of the 9,460 orders executed on HDAT, 46.87% were “buy” orders and 53.13% “sell” orders. Trading activity was particularly intense in medium to longer-term bonds, which attracted 60.7% of the total turnover. Amongst individual bonds, the 10-year benchmark bond was the most actively traded, with EUR 6.71 billion worth of transactions. Its liquidity, as measured by the ratio of the monthly traded volume over the amount outstanding, increased to 134% in March from 95% in February.

    [16] Greece aims for quality shipping

    Athens, 12/04/2003 (ANA)

    Merchant Marine Minister George Anomeritis said on Friday that Greece had set quality in shipping as a strategic goal.

    Competitiveness needed reinforcement in order to attain the objective, Anomeritis said.

    He was addressing a seminar of the Hellenic-British Chamber of Trade on Piraeus and London as shipping hubs for the sector, and the future of Greek shipping.

    [17] Oil prices to fall sharply in 2nd half of 2003, Tsohatzopoulos says

    Athens, 12/04/2003 (ANA)

    Greek Development Minister Akis Tsohatzopoulos on Friday said he expected oil prices to fall sharply in the second half of 2003 and in the beginning of next year.

    Addressing a seminar on ''Oil and Economy'' organised by the Energy magazine in Athens, Mr Tsohatzopoulos said that the US-led forces would have to supply global markets with Iraqi crude oil. ''We are entering an era of increased oil supply that will push oil prices lower,'' the Greek minister said. Mr Tsohatzopoulos added that during this period of increased supply, international markets would cover any previous losses.

    ''We have managed to have the cheapest oil and petrol prices without damaging the profitability of oil companies,'' Tsohatazopoulos stressed.

    The Greek minister reiterated that Greece would have to interconnect its domestic markets with trans-European energy, financial and communication networks to maintain its high economic growth rates.

    [18] Trade unions call protest, work stoppage for Wednesday

    Athens, 12/04/2003 (ANA)

    The General Confederation of Workers of Greece (GSEE), the country’s largest trade umbrella group, has called a work stoppage from between 11 a.m. to the end of shift next

    Wednesday, along with a protest march from central Athens to the US embassy.

    The trade groups’ mobilisations are scheduled to coincide with the signing of EU Accession Acts by 10 east European and Mediterranean countries on Wednesday at the ancient Agora (in the rebuilt Stoa of Attalos) archaeological site beneath the Acropolis.

    According to the march’s organisers, the rally will be anti-war in character, with stops along the way outside the British, Italian and Spanish embassies, all in protest against the governments of those countries and their support for the US-led campaign in Iraq.

    In a relevant press conference, GSEE’s leadership said that although the local trade movement backed EU expansion, and particularly Cyprus’ inclusion, the national leaders that backed the Iraq war are considered as undesirables by the trade unions.

    Finally, GSEE head Christos Polyzogopoulos said he was not in favour of an obligatory holiday for Athens-area civil servants on Wednesday, while cautioning against draconian police measures turning parts of the city into ‘no-man’s lands’.

    [19] Greek stocks end week with a net gain of 4.07 pct

    Athens, 12/04/2003 (ANA)

    Greek stocks ended the last trading session of the week sharply higher in the Athens Stock Exchange, reflecting improved market sentiment on news that foreign credit rating companies upgraded the credit ratings of National Bank, Eurobank and Alpha Bank.

    The general index ended 1.26 percent higher to end above the 1,600 level of 1,603.79 points. The index ended the week with a net gain of 4.07 percent. Turnover was a low 87.5 million euros.

    The Textile, Wholesale and Holding sectors scored the biggest percentage gains of the day (7.47 percent, 3.73 percent and 3.34 percent, respectively), while the IT Solutions, Insurance and IT sectors suffered the heaviest percentage losses (0.82 percent, 0.40 percent and 0.26 percent).

    The FTSE/ASE 20 index for blue chip and heavy traded stocks rose 1.51 percent, the FTSE/ASE MID 40 index ended 1.19 percent higher, the FTSE/ASE SmallCap 80 index jumped 2.05 percent and the wider FTSE/ASE 140 index ended 1.51 percent up.

    Broadly, advancers led decliners by 274 to 58 with another 34 issues unchanged.

    Derivatives Market Close: Turnover at 52.4 mln euros Friday

    Equity Index Futures:

  • FTSE/ASE-20 (high cap): At discount

  • Underlying Index: +1.51 percent

  • FTSE/ASE-40 (medium cap): At discount

  • Underlying Index: +1.19 percent

    Stock Futures:

  • Most Active Contract (volume): National Bank of Greece (260)

  • Total market turnover: 52.4 million euros

    Bond Market Close: Sellers outstrip buyers on Friday

    Greek Benchmark 10-Year Bond

  • Yield: 4.43 pct

  • Spread over German bund: 18 bps

  • Day's Market Turnover: 2.3 bln euros

  • Most Active Bond: 20-year, expiring Oct 2022 (270 mln euros)

    [20] Greece donates 250,000 euros for humanitarian aid to Iraq

    BAKU 12/04/2003 (ANA - F. Karaviti)

    Deputy Foreign Minister Andreas Loverdos announced on Friday, during his visit here, that the Greek government would fund with some 250,000 euros humanitarian aid to Iraq.

    Loverdos said that in essence this initiative is a response by the Jordanian government to a proposal tabled by the Greek government to all countries in the region.

    ''Jordan appears to have become a major corridor for the passage of humanitarian aid to Iraq and we aim to use it for access to the region,'' Loverdos said.

    ''The money will be at our embassy in Amman and we will decide exactly what kind of action we wish to fund,'' he concluded.

    [21] First shielded witness appears at 'N17' trial

    Athens, 12/04/2003 (ANA)

    The daughter of one “November 17” victim demanded that the perpetrators of her father’s death be punished, as the high-profile trial of 19 “N17” members continued on Friday in a specially modified prison courtroom near Athens with testimony from an array of prosecution witnesses and victims’ family members.

    The daughter of a former National Bank of Greece governor called the murder of her father, Michalis Vranopoulos, “unjust and lunacy”, while also charging that there was no conceivable reason for him to be assassinated.

    “Even now, I’m still trying to understand why. I am expecting answers. They are, however, too cowardly to ever admit it,” Vranopoulos’ son added from the stand.

    Friday’s proceedings also featured the appearance of the first “protected witness”, identified only in court documents as “B1”.

    The witness said he absolutely recognises Dimitris Koufodinas, the elusive terror band’s alleged operations chief, as the man who shot dead the ex-bank governor, and is practically sure – by 90 percent, as he said – that Savvas Xiros was the man driving a getaway motorcycle.

    He further stated that he briefly followed the motorcycle through the narrow streets of the upscale Kolonaki district in central Athens on his motorbike, and only desisted after Koufodinas spotted him.

    Before the witness’ testimony began, the defence attorney for the three Xiros brothers read out what he said was the man’s real name, adding that he has provided two pre-trial statements under his own name.

    [22] Dissent among UN Security Council members due to differences on principles

    NICOSIA 12/04/2003 (CNA/ANA)

    Differences that have emerged among UN Security Council members with regard to a resolution on the Cyprus peace effort, in relation to Kofi Annan's peace proposal, are due to differences on matters of principle, government spokesman Kypros Chrisostomides said here on Friday.

    The spokesman reiterated that the government considers Kofi Annan's peace plan still on the negotiating table and stressed that it is ready for sincere negotiations on the basis of this plan to reach a settlement.

    In his remarks to CNA on the matter, Foreign Minister George Iacovou said that the US and Britain have a different perspective on the reference to Annan's plan in the resolution than the perspective adopted by France, Russia and China.

    ''The first two essentially are trying to give the Annan plan some kind of status whereas the other three believe the plan remains as a basis for negotiation,'' the minister explained.

    Invited to outline the government's position on the two schools of thought, prevailing among Council members, Chrisostomides said ''it is important that the resolution apportions responsibility on the Turkish Cypriot side and advocates continuation of the efforts of the Secretary General through the Council procedures and on the basis of Council resolutions.''

    Replying to questions, the spokesman said the difference of opinion is rather due to ''matters of principle that relate to the operation and the authority of the Council on one hand and the content and parameters of the Secretary-General's good offices on the other.''

    He explained two out of the five permanent members do not accept the Secretary-General to act as arbitrator in international disputes.

    The spokesman said that the government is ready to engage in further negotiations on the basis of the Annan plan and to continue efforts for a solution for the benefit of both communities to enable a reunited Cyprus to join the European Union.

    ''If this cannot be achieved by next week's signing of the Accession Treaty, and it looks as if it will not, efforts to find a negotiated settlement will continue,'' the spokesman added.

    He said that consultations among Council members on a resolution were to continue on Friday but could not say if these would reach a conclusion.

    [23] Christofias says Russia and Cyprus maintain coinciding views

    LARNACA 12/04/2003 (CNA/ANA)

    House of Representatives President Demetris Christofias expressed here on Friday satisfaction that the Russian Federation's views coincide with those of Cyprus with regard to the Cyprus question. Speaking to the press at Larnaca Airport on his arrival from Moscow, here he held an official visit, Christofias said that he received assurances that Russia, a permanent member of the Security Council, ''would continue to strive so that the resolution on Cyprus, to be adopted by the UN Security Council, would express the Cypriot positions.''

    Referring to his contacts in the Russian capital, Christofias expressed satisfaction, adding that during his meeting with Russian Foreign Minister Igor Ivanov he discussed certain problems that arise from Cyprus' accession to the EU and from the implementation of EU rules and regulations.

    ''We have agreed that the two sides must work in an intense manner so that Cyprus' relations with the Russian Federation would not be subject to any negative repercussions but on the contrary would be enhanced.''

    During his one-day working visit to Moscow on Thursday, Christofias warned that if UN Secretary General's peace plan for Cyprus is incorporated in a UN Security Council resolution, as a solution to the Cyprus problem and not as the basis for negotiations this will allow Turkey to continue negotiations, insisting on her demand for dual sovereignty.

    Christofias, said there are many voids and inadequacies in the Annan plan that must be overcome and noted that the situation is not good as Britain and the US, are promoting, at Turkey's demand, the establishment of a confederation (two sovereign states) in Cyprus.

    At his Moscow meetings Christofias thanked Russia that, along with China and France, supports this moment efforts so that a solution to the Cyprus problem will be viable and provide for a federal united state with a single sovereignty and citizenship.

    [24] Italy supports Cyprus' EU accession, Antonione says

    NICOSIA 12/04/2003 (CNA/ANA)

    Italy's Undersecretary of Foreign Affairs Roberto Antonione expressed his country's satisfaction that Cyprus will become a member of the European Union, noting that Italy has always supported Cyprus' efforts to join the EU because it considers it a European country.

    Antonione was received here on Friday by Cypriot President Tassos Papadopoulos, who analysed the positions of the Greek Cypriot side on the Cyprus problem before and after The Hague meeting and the intransigent position shown by the Turkish side in the negotiations, which led to the collapse of the UN Secretary-General's initiative for a Cyprus settlement.

    Speaking to CNA, Director of the President's Press Office Marios Karoyan said that Antonione noted ''everyone would like a reunited Cyprus to enter the EU but this is not possible due to the intransigence of Turkish Cypriot leader Rauf Denktash and Turkey.''


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