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The Hellenic Radio (ERA): News in English, 00-11-30

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From: The Hellenic Radio (ERA) <>


  • [01] Managing Director of ''Minoan Flying Dolphins'' commits suicide
  • [02] Papadimos appears optimistic over the course of inflation
  • [03] The Bank of Greece is expecting that inflation will remain 3% in the
  • [04] Disvovery on mad cow disease to be anounced soon
  • [05] Simits visits Budapest officially


    30/11/2000 10:15:30 рм

    [01] Managing Director of ''Minoan Flying Dolphins'' commits suicide

    The Vice-President and managing director of the shipping company "Minoan Flying Dolphins", ship-owner Pantelis Sfinias committed suicide yesterday, jumping from the 6th floor of the company's offices in Piraeus.

    The Minoan Flying Dolphins company is the owner of the ferry boat "Express Samina" which sank off the coast of the island of Paros in September, and as a result 81 people lost their lives.

    According to his family, Pantelis Sfinias was under great pressure, as he was preparing his testimony.

    According to the employees' anouncements "Minoan Flying Dolphin" company Pantelis committed suicide due to the unjust critisisms launched against him before justice reached an outcome.

    Meanwhile, the police is carrying out investigations on the conditions the ship-owner decided to commit suicide.

    Prime minister Kostas Simitis, Merchant Marine minister Christos Papoutsis and New Democracy party expressed their sorrow over the loss of a human life.

    In the meantime, all the ships of the company and all its affiliate companies will remain docked in mourning until the funeral of Pantelis Sfinias.

    [02] Papadimos appears optimistic over the course of inflation

    The Governor of the Bank of Greece Loukas Papadimos appeared optimistic over the course of inflation in 2001 after the Monetary Policy Council handed to the Speaker of the Greek Parliament Apostolos Kaklamanis the interim report on the course of the Greek economy.

    The report is also urging social partners to refrain from claims regarding large increases in salaries and utility bills and consensus for flexibility in the bid to increase productivity and competitiveness in the Greek economy.

    Mr. Papadimos said that next year, development in inflation would be positively affected by various factors, such as restricted increase of the labour cost, increased productivity and the anticipated budget surplus.

    Referring to the fact that the course of inflation would be determined by the development of the petrol prices and the Euro - Dollar parity, the governor of the Bank of Greece said that the inflation rate is expected to gradually deescalate in 2001, in case the oil price and the Euro - Dollar parity remain in the present levels.

    [03] The Bank of Greece is expecting that inflation will remain 3% in the first months of 2001.

    Following the decision of the Bank of Greece to cut down its basic interest rates, the National bank went ahead with a small reduction of its interest rates, by 0.25 percentage points in loans and savings accounts.

    The new interest rates will be in force as of Monday, December 4. In a related development, following the anouncement of Pantelis Sfinias' suicide, negotiations over the shares of "Minoan Lines" recorded losses of up to 11% and were suspended following the relative decision of the Capital Market Committee.

    In the meantime, fuel prices will go slightly up today. Specifically, gas and heating fuel will be by 1.5 drachmas more expensive per litre.

    [04] Disvovery on mad cow disease to be anounced soon

    Concern over the mad cow disease is spreading after the six more cases of animals suffering from the disease, five of which were located in France and one in Switzerland.

    The European Commission has proposed measures to deal with the mad cow disease, and specifically a provisional ban to cattle-feed from animal flour in all EU member states and the withdrawal of cattle over 30 months old.

    In the meantime, in view of the European Union Agriculture ministers extraordinary meeting on December 4, the National Advising Committee for BSE is meeting today under the chairmanship of Agriculture minister Yiorgos Anomeritis.

    The main subject of discussion will be Greece's proposals for the ban of the use of animal flour in cattle-breeding. According to Mr. Anomeritis Greece will propose the speeeding up of checks on cattle and the implementation of common rules in all European Union member-countries.

    At the same time Professor of Aristotelian University in Thessaloniki Theodoros Sklaviades are to anounce an important discovery in a few days.

    It is a revolutionary method which stops the development of the disease with the transformation of a natural protein responsible for the disease to pathological.

    [05] Simits visits Budapest officially

    Prime minister Kostas Simitis is officially visiting Budapest, where it was ascertained that the prospects opening up in the trade and economic relations between Greece and Hungary are especially positive, while the Hungarian leadership recognizes Greece's role in the Balkans and backs its efforts for a Cyprus settlement.
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