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Athens News Agency: News in English, 05-05-31

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

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

CONTENTS

  • [01] Finmin welcomes "maturity" of telecom union over early retirement deal
  • [02] Greek exports to Turkey up 24.2% in Jan-Apr 2005 period

  • [01] Finmin welcomes "maturity" of telecom union over early retirement deal

    Finance Minister George Alogoskoufis on Monday welcomed what he called the "maturity" of trade unionists at Athens-quoted Hellenic Telecommunications Organisation (OTE) following agreement with management on the terms of an early retirement package.

    "Management and union representatives have shown great maturity and a great sense of responsibility at a critical moment for restructuring of the company" Alogoskoufis said.

    The weekend pact on the retirement scheme, which management says is key to an overhaul within the sprawling and overstaffed OTE group, ended months of tough bargaining.

    The net cost of the voluntary redundancies for 6,000 staff is 1.5 billion euros, with 20% of the sum to be shouldered by the state and the remaining 80% from savings in operational spending resulting from the plan, Alogoskoufis said.

    "This agreement has demonstrated that consensus can be attained over the economy and that the quest for consensus solutions to problems can bring results," the minister added.

    The pact, which averted the prospect of mass redundancies or bankruptcy of the company, is also likely to facilitate a further flotation of OTE's stock on the bourse, according to ministry officials.

    Opposing the pact were PASKE, a trade union group aligned to the main opposition PASOK party, and POST, a staff group at Hellenic Post Offices. Both claimed that the agreement signed by the OTE union's president, a member of PASKE, jeopardised the existing status of industrial relations at the expense of workers in any state-run corporation.

    [02] Greek exports to Turkey up 24.2% in Jan-Apr 2005 period

    ANKARA (ANA) -- Greek exports to neighboring Turkey in the Jan-April period rose by 24.2 percent from the corresponding period in 2004, reaching the US$209.4-million mark, according to a Turkish statistical service announcement on Monday.

    Moreover, Turkish exports to Greece rose by 4.7 percent in Jan-April 2005 from the same period in 2004, to stand at $396.7 million.

    Throughout 2004, Greek exports to Turkey totaled $594.3 million, whereas imports from Turkey reached $1.17 billion.


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