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Athens News Agency: Daily News Bulletin in English, 01-11-02

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

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

November 2, 2001

CONTENTS

  • [01] PM welcomes plan to merge by country's two biggest banks
  • [02] National Bank, Alpha Bank officially announce merger plan
  • [03] FM in Pakistan calls for cooperation of civilizations, religions
  • [04] Deputy FM receives ambassadors of Japan, China, US
  • [05] New defense minister defines ministry's policy
  • [06] Spokesman comments on airspace violations by Turkish planes
  • [07] Gov't spokesman denies reports of arrests connected with "17 November"
  • [08] Coalition leader asks for Parliamentary debate on Afghanistan war
  • [09] UN General Assembly agenda to include issues of Greek interest
  • [10] Turkish agriculture minister arrives for official visit
  • [11] Chief of the French Armed Forces General Staff visits Greece
  • [12] PASOK Executive Bureau convenes
  • [13] ND affiliated youth group events to condemn terrorism
  • [14] Debate on draft budget at Parliamentary Economic Committee
  • [15] Greece, Turkey sign bilateral agriculture agreements
  • [16] Development minister inaugurates Philo-xenia tourism exhibition
  • [17] Greece to hold trade, arts fair in the US next week
  • [18] Manufacturing shows zero growth in October
  • [19] EU okays Greek employment plan
  • [20] Renewable energy sources cover 5% of consumption in Greece
  • [21] Industrial production up 1.2 percent in August, yr/yr
  • [22] Committee of world securities group to meet in Greece Friday
  • [23] Bank merger positive for ASE, Alexakis says
  • [24] Cabinet session focuses on law enforcement, 2004 security
  • [25] British parliamentarians demand the return of the Parthenon Marbles
  • [26] Honorary degree for Archbishop Anastasios of Albania from Piraeus University
  • [27] Greece participates in book exhibition in Tirana
  • [28] UN envoy de Soto arrives on Friday

  • [01] PM welcomes plan to merge by country's two biggest banks

    Athens, 02/11/2001 (ANA)

    Prime Minister Costas Simitis on Thursday welcomed a planned merger between the country's two largest banks, state-run National Bank of Greece and private Alpha Bank.

    "This is an event with massive political, economic and social significance," Simitis told a cabinet meeting.

    Technical details of the merger plan are to be released later this month.

    National Economy and Finance Minister Nikos Christodoulakis told the meeting that a merger between the two banking giants would have a favorable impact on the economy.

    The move, which is subject to approval by regulatory authorities, would not appear to create a monopoly as it did not impede the entry of other companies into the banking sector, Christodoulakis said.

    The new bank to emerge would be classed as medium-sized among European credit institutions, ranking 25th in terms of capitalization, the minister noted.

    "It will greatly reinforce the country's economy along with the Greek banking system and its competitiveness within the single European market," Christodoulakis said.

    Gov't sees National–Alpha merger as positive for economy: There is no need for state control of the banking system, government spokesman Christos Protopappas said on Thursday in response to questions about the merger between Alpha Bank and National Bank of Greece, the largest state-run bank in the country.

    "There is no such thing as a state bank in a free market," Protopappas said when asked if the government believed there should be at least one large state-controlled bank.

    He also noted that many state insurance funds owned shares in National Bank and would own 15-20 per cent of the new bank.

    The spokesman said the planned merger had occupied Thurs-day's cabinet meeting, which had concluded that it would not create a monopoly in the banking sector.

    He quoted Economy and Finance Minister Nikos Christodoulakis as saying that there were no obstacles to the founding of new banks or to new mergers and that the merger to be a positive development for the Greek economy. According to Christodoulakis, the new bank resulting from the merger would rank 25th in size among European banks.

    The government spokesman, meanwhile, did not rule out further mergers involving other state banks, such as Agricultural Bank of Greece or Commercial Bank of Greece.

    He added that the government was not opposed to further moves to create larger banking groups, which would increase competitiveness - seen as a key goal for the Greek economy in the coming years.

    Regarding the employees of the two banks, Protopappas said the government wanted their rights fully safeguarded as well as full employment in the new bank. He said that there would be talks between employees and the two banks on these issues.

    Main opposition waiting to see outcome of National, Alpha merger: The main opposition New Democracy party said on Thursday that it was taking a wait-and-see attitude towards a planned merger announced earlier in the day between the country's two largest banks, state-run National Bank of Greece and private Alpha bank.

    Determining the party's response were whether the merger would boost competitiveness of the banking system and of the economy; whether costs would drop, and consumers, smaller firms and employees would benefit; and whether the arrangement would eventually lead to greater centralization and state control of the economy.

    In a separate statement, the Communist Party of Greece said the merger was based on increasing profit and would hurt wage earners, the self-employed, small firms and farmers in the short and long term.

    Coalition party concerned over conditions of bank merger: The Coalition of the Left and Progress party on Thursday said the terms and preconditions with which the merger between the National and Alpha banks is being promoted "raise serious questions, concerns and dangers".

    The party called for the immediate enactment of specific legislation on mergers and buyouts to safeguard employment and employees' labor rights.

    It further said the government backed the merger option "to provide a restructuring image in markets and to strengthen the role played by private capital in the banking sector."

    [02] National Bank, Alpha Bank officially announce merger plan

    Athens, 02/11/2001 (ANA)

    National Bank's and Alpha Bank's boards decided on Thursday to submit a merger proposal between the two banks to their general shareholders' meetings for approval.

    Under the merger plan, the exchange ratio of National Bank of Greece shares for Alpha Bank shares will be based on the relative market capitalization’s of the two groups and will be determined in accordance with the methodology stipulated by Greek law.

    The management of the merged group will be exercised by the board of directors and an executive committee, both led by Mr. Theodoros Karatzas as executive chairman and Mr. Yiannis Costopoulos as governor. Members of the executive committee will include Andreas Vranas, Constantine Kyriakopoulos, Demetrios Mantzounis, Theodoros Pantalakis and Apostolos Tamvakakis.

    The two boards reached their decision taking into account the following: -The merger will create a financial services group, which due to its increased size will be better able to operate and take advantage of strategic opportunities in the extremely competitive European and international markets. The strong capital base of the merged group will facilitate the development of an outward looking business strategy in South Eastern Europe and the larger international financial centers. -There is significant complementarity in sectors such as retail banking, asset management, brokerage, the SME market, treasury and real estate management. Moreover, synergies can be captured in other high growth sectors in Greece such as banc assurance and the insurance market. -The potential for enhancing the operational efficiency of the merged group, building upon the proven management track records in restructuring both banks' respective operations and containing costs. -The potential for substantial economies of scale in areas such as the branch network, marketing and sales of products and services, investments in IT and infrastructure, and better utilization of human resources. -The new group will have increased presence in international capital markets, as reflected in larger weightings in the international indices. This development will raise the profile of the new group for international investors. -With this move, a new financial group with total assets of approximately 80 billion euros and a market capitalization of approximately 10 billion euros is created, which will make it the 23rd largest European bank by market capitalization.

    "We are very excited about the creation of a strong bank that will contribute significantly to the development of the Greek economy. This merger also represents the opportunity to create a leading European bank, with its decision making center in Greece, which will be the benchmark in Greece for domestic and international investors," Theodoros Karatzas, Chairman and Governor of National Bank of Greece said.

    "This merger will improve the range, quality and competitiveness of our products and services to customers whilst reinforcing our position in the international capital markets. Benefits are also expected from the optimization of our combined direct and indirect networks, which will create new opportunities for staff within the enlarged group," Yiannis Costopoulos, Chairman and Managing Director of Alpha Bank said.

    The managements of the two banks announced they will convene a press conference within 20 days to provide further details on the merger.

    National Bank of Greece is being advised by Schroder Salomon Smith Barney and Alpha Bank is being advised by Goldman Sachs on this transaction. KPMG and PriceWaterhouseCoopers have been appointed as independent auditors to the National Bank of Greece and Alpha Bank, respectively.

    Alpha Bank published its nine months 2001 results for the Bank and the Group on October 26, 2001, while National Bank of Greece confirmed it will announce its nine-month 2001 results for the Bank and the Group as planned on Wednesday, November 7, 2001.

    National Bank board approves merger plan with Alpha Bank: "A powerful group is being created. Greece in need of champions," National Bank of Greece's governor, Theodore Karatzas, said on Thursday.

    Speaking to reporters, after a board meeting that unanimously approved a merger plan with Alpha Bank, Karatzas noted that the two banks' staff should not be worried because the new group has more favorable growth prospects.

    National Bank's governor said that merger procedures would be completed within the relative legislation provisions.

    Greek industrialists welcome National Bank-Alpha Bank merger: A merger deal between the country's two largest banks, National Bank and Alpha Bank, was a living example of what Greek businesses can do to improve their competitiveness, Greek Industries Union (SEB) chairman, Lefteris Antonakopoulos said on Thursday.

    Speaking to reporters, Antonakopoulos stressed the need for a continuation of such moves and noted that the Greek economy was entering a new dynamic stage of growth, both for the state and the business world.

    "We have heard what the new Economy Minister said over the state's actions and now we wait for the implementation of these announcements," Antonakopoulos said.

    He said that this kind of mergers (National Bank-Alpha Bank) did not necessarily led to job losses.

    Bank employee union welcomes merger: The Federation of Bank Employee Union of Greece on Thursday welcomed news of a merger plan between National Bank and Alpha Bank, saying it would create a large financial group capable to compete in an international competitive environment.

    Union representatives said the success of the merger plan would depend also on the level of ensuring employment and employees' rights and called for an immediate solution of the social security problem and the creation of a single bank employee pension and health fund.

    "If these preconditions were met and the two merged parties ensured the Federation's participation in merger procedures, then bank unions are willing to contribute in the success of the plan," a union statement said.

    [03] FM in Pakistan calls for cooperation of civilizations, religions

    ISLAMABAD, 02/11/2001 (ANA - D. Konstantakopoulos, M. Savva)

    "We are not for the conflict of civilizations and religions. We see religions and civilizations not raising walls, but creating bridges of communication and cooperation," Greek Foreign Minister George Papandreou said on Thursday here after meeting his Pakistani counterpart Abdul Sattar.

    The two men discussed the latest developments of the crisis, conditions in Afghanistan, the effects of the current developments in the region, humanitarian aid to Pakistan and bilateral relations.

    The Greek minister's statements were followed by a special note to the Greek experience gained in similar conflicts in the Balkans.

    "Greece has this experience, it has the ability to contribute financially to the problems that come up," he said, extending a special thanks to the non-governmental organizations, which contributed with their presence and are in the forefront with their offer in services, for the resolution of the huge humanitarian problem in the region.

    Greece has granted humanitarian aid worth one million dollars, half of which was disbursed as aid through the non-governmental organizations and the rest was granted to the United Nations High Commission to disburse in the form of medicine.

    Papandreou stressed that all these were of special importance to a country that feels that it has ancient bonds with Hellenism and which wishes to upgrade bilateral relations.

    Responding to questions, Papandreou said that his first impressions from his contacts here were that Pakistan is resolved to contribute in confronting terrorism and supporting the international coalition.

    In regards to the political conditions in Afghanistan, Papandreou said that the Afghan people must want a more representative government, which will be supported by the countries of the region, without antagonisms and without efforts to create spheres of influence.

    During a press conference, following their meeting, Sattar said "we agree that there should be a wide-based multi-tribal government in Afghanistan and to retain the unity, territorial integrity and political independence of the country".

    He thanked Papandreou for Greece's aid to Pakistan, which has to deal with three million refugees from Afghanistan at its borders.

    Sattar also said that the international community and especially the United Nations should contribute to the resolution of the crisis, stating that his country wishes to resolve the differences with India in Kashmir.

    On Friday morning, Papandreou will meet with Pakistani President Gen. Pervez Musharraf.

    Papandreou will depart for India on Friday where he will meet with his Indian counterpart Jaswant Singh, while the next stop will be Teheran.

    [04] Deputy FM receives ambassadors of Japan, China, US

    Athens, 02/11/2001 (ANA)

    Deputy Foreign Minister George Magriotis on Thursday received Japan's Ambassador to Greece Motoi Ockubo and discussed bilateral affairs with him, also in light of the premier's planned visit to Japan.

    The two men focused on the common front for confronting terrorism in light of the Sept. 11 tragic events in the United States.

    They also discussed bilateral trade issues, joint efforts in the Balkans and the increase of Japanese tourist arrivals in Greece in light of the 2004 Olympic Games.

    Later in the day, Magriotis received China's Ambassador to Greece Zhen Jianguo and again discussed bilateral affairs, which they found to be excellent, along with cooperation between the two countries on the international scene.

    The Chinese ambassador proposed a series of cultural events to celebrate the 30th anniversary of Greece and China initiating diplomatic relations, and it was agreed that Greece would also be presenting its proposals for such events soon.

    They also discussed further economic and trade cooperation between the two countries, as well as cooperation in light of the Athens 2004 Olympic Games and the Beijing 2008 Olympic Games.

    The Greek deputy minister also received US Ambassador to Greece Thomas Miller and reiterated to him the support of the Greek government and the Greek people for the common struggle against terrorism, while discussions between the two men included the course of cooperation on that front.

    They made special mention of the 2002 Winter Olympic Games, which will take place in Salt Lake City in the State of Utah in the United States.

    Magriotis and Miller also discussed bilateral economic issues and the widening of economic cooperation in third countries.

    [05] New defense minister defines ministry's policy

    Athens, 02/11/2001 (ANA)

    Newly appointed Defense Minister Yiannos Papantoniou on Thursday outlined the general guidelines of the policy he will be applying until the next general elections.

    Papantoniou said this policy will comprise a revision of law 1995 to the degree considered necessary, the revision of defense strategy based on work already accomplished for the better adjustment of the armed forces to modern-day conditions and the further modernization of the administration sector, as well as economic planning to achieve the best results with a given cost.

    "I am convinced that with the same money and the conditions we have we can secure much better results," he said and reassured that he will safeguard funds provided by the state.

    "I will try to increase them to the degree, of course, permitted by fiscal discipline and the government's general economic policy," he added.

    Papantoniou praised the work of his predecessor Akis Tsohatzopoulos, saying that the fact that Greece currently possesses such powerful armed forces is primarily linked to his predecessor and the strong staff that supported him.

    Papantoniou also said the planned merger between the National Bank of Greece and the Alpha Credit bank is a positive step for the banking system's modernization.

    [06] Spokesman comments on airspace violations by Turkish planes

    Athens, 02/11/2001 (ANA)

    The government took all necessary action over the recent air space violations by Turkish fighter planes, government spokesman Christos Protopappas said on Thursday.

    He was responding to questions on whether Athens would lodge a demarche with Turkey over the incidents on Wednesday.

    [07] Gov't spokesman denies reports of arrests connected with "17 November"

    Athens, 02/11/2001 (ANA)

    Government spokesman Christos Protopappas on Thursday denied reports published on the same day's edition of the "Vradini" daily newspaper, according to which police arrested suspects connected with the infamous "17 November" terrorist group.

    "There are no arrests and no one is in custody," Protopappas said, during the daily press briefing.

    The newspaper reported that the anti-terrorist squad of the Greek police arrested three individuals and was questioning them in relations to the shadowy terrorist organization that has been responsible for numerous fatal attacks in Greece.

    [08] Coalition leader asks for Parliamentary debate on Afghanistan war

    Athens, 02/11/2001 (ANA)

    Coalition of the Left and Progress leader Nikos Constantopoulos, in a letter to Parliament Speaker Apostolos Kaklamanis on Thursday, asked for a debate in Parliament about the ongoing war in Afghanistan.

    Constantopoulos criticized the war in the letter, saying that it was wrong for the world in the 21st century to operate on the principles of "an eye for an eye and a tooth for a tooth".

    [09] UN General Assembly agenda to include issues of Greek interest

    NEW YORK, 02/11/2001 (ANA - M. Georgiadou)

    Immediately after the end of the general debate on November 16, the plenum of the United Nations General Assembly will deal, until the end of 2001, with a series of important issues which concern Greece or are of direct interest to the country.

    On November 26, Greece, together with Turkey, will submit resolutions on taking measures and decisions for the confrontation of natural disasters.

    On December 10, the General Assembly will discuss the issue of the return of cultural treasures to their country of origin. It is expected that particular mention will be made to the British Museum's refusal to return the Parthenon Marbles to Greece.

    On December 11, the General Assembly will discuss a proposal by Greece for 2004 to be declared International Year for the Olympic Truce.

    [10] Turkish agriculture minister arrives for official visit

    Athens, 02/11/2001 (ANA)

    Visiting Turkish Agriculture Minister Husnu Yusuf Gokalp was received by Greek Merchant Marine Minister George Anomeritis here on Thursday for talks that covered issues ranging from the protection of the marine environment to fishing vessels' safety.

    Anomeritis was Greece's agriculture minister up until early last week, when he was shifted to the merchant marine ministry in the wake of a government reshuffle.

    Moreover, both men will be honored with the Ipekci award, bestowed to individuals or organizations that promote Greek-Turkish friendship and cooperation, during a ceremony in Athens this week.

    Anomeritis and Gokalp were the first agriculture ministers from Greece and Turkey to officially meet, as well as the only two ministers -- excluding the two countries' foreign ministers -- to sign noteworthy bilateral agreements recently, in this case, focusing on farm sector cooperation.

    Along those lines, a first-ever cooperation agreement by Balkan countries' agriculture ministries was signed recently in Istanbul.

    [11] Chief of the French Armed Forces General Staff visits Greece

    Athens, 02/11/2001 (ANA)

    Defense Minister Yiannos Papantoniou on Thursday received the Chief of the French Armed Forces General Staff, Jean-Pierre Kelche, and discussed with him issues related to cooperation between Greece and France in the defense sector.

    Papantoniou said after the talks that Greece and France have very close relations on many issues and that the two countries will have particularly close cooperation in the defense sector when Greece assumes the European presidency in the first half of 2003.

    Kelche met earlier with his Greek counterpart Manoussos Paragioudakis with whom he will depart on Saturday for Kosovo to inspect the Greek and French contingents there.

    In their meeting, Kelche and Paragioudakis discussed a series of issues concerning bilateral cooperation and the presence of Greece in NATO and the EU.

    [12] PASOK Executive Bureau convenes

    Athens, 02/11/2001 (ANA)

    The Executive Bureau of the ruling PASOK convened on Thursday night and announced that the party "will start contacts with the parties of the democratic opposition in view of the municipal elections next year."

    Prime Minister Costas Simitis told reporters after the meeting that "PASOK will become more active so as to find itself in the front line and emerge as a party open to society."

    Simitis said the party will begin extensive contacts with the trade unions and other parties. He added that PASOK was a modern party and at the center of political life and identified itself with progress.

    During Thursday night's meeting, an in-depth discussion was held on how PASOK will be transformed into a modern party in order for it to become even stronger, in accordance with the directives of the PASOK congress which was held in October.

    Decision was reached for the political sectors of the Executive Bureau to be transformed and become, as the prime minister said, "more functional and more flexible." Furthermore, it was agreed that the bonds between the party and the government should become closer.

    These sectors, Simitis said, will henceforth consist of fewer members.

    Another issue discussed was the greatest possible mobilization of the members who should play a more active role in linking PASOK with society.

    "Our members should participate more actively in the paving of our strategy and not simply observe politics developing," Simitis said. He noted that for this reason, every member will be assessed accordingly.

    It was decided that the PASOK Central Committee will convene on November 9 to elect the section secretaries, while early in January it will meet to exclusively discuss the issue of local government.

    [13] ND affiliated youth group events to condemn terrorism

    Athens, 02/11/2001 (ANA)

    Main opposition New Democracy's affiliated youth group, ONNED, is organizing events in a handful of Greek cities over the weekend under the title of "Bombing Terrorism With Colors", part of its campaign to express opposition to terrorist acts.

    Events are scheduled in Athens, Thessaloniki, Patra and Ioannina.

    During a press conference on Thursday, ONNED's leadership emphasized that the "same people that protested against the war against Yugoslavia today condemn the attacks of Sept. 11."

    ONNED president Christos Kourousis also called for Sept. 26 -- the day ND deputy Pavlos Bakoyiannis was gunned downed by an urban terrorist group -- to be commemorated as a "national day of democracy and dialogue in memory of terrorism's victims".

    [14] Debate on draft budget at Parliamentary Economic Committee

    Athens, 02/11/2001 (ANA)

    Views on the draft budget were heard at the Parliamentary Economic Affairs Committee on Thursday with former minister Gerasimos Arsenis saying the prediction by Finance Minister Nikos Christodoulakis of a 4 percent growth rate is overoptimistic, believing that a 3.5 percent increase in GDP is more realistic.

    Arsenis said the government's insistence on showing surpluses in the budget in essence means recession and inflation. He added that given that European Union funding through the Community Support Framework (CSF) necessitates in advance national funding for the specific sector, a transfer of the biggest part of the budgeted surplus, from the decrease in the national debt in the health and education sectors, will improve the performances of social policy.

    George Daskalakis, in his capacity of former General Bank governor as well, attributed secrecy to the government in referring to the merger between the National Bank and Alpha Bank.

    The PASOK deputy also expressed skepticism over the possibility of, apart from positive conditions to be had for the merging banks abroad, oligopolistic trends being created on the domestic front.

    [15] Greece, Turkey sign bilateral agriculture agreements

    Athens, 02/11/2001 (ANA)

    Greek Agriculture Minister George Drys and his Turkish counterpart Husnu Yusuf Gokalp signed two agreements on Thursday in Athens covering the sectors of animal health and protection of plants.

    "With the agreements we signed, we strengthen the cooperation between our two countries and we are expanding it to a new field. We are creating the framework for the smooth cooperation of the two countries in the agricultural sector," Drys said.

    On his part, the visiting Turkish minister said that the cooperation of the two countries is on a good course, adding that Turkey has allot to gain on the technical level, in its bid to join the European Union.

    [16] Development minister inaugurates Philo-xenia tourism exhibition

    Athens, 02/11/2001 (ANA)

    Development Minister Akis Tsohatzopoulos on Thursday inaugurated the 17th Philoxenia International Tourism Exhibition, taking place in the Thessaloniki International Trade Fair grounds.

    "These year's Philoxenia, with the impressive presence of representatives of Greek and international tourism signals the preparation of a dynamic period," he said during the ceremony, adding "our hopeful ambition is that a new page is opening for Greek tourism, which will be the answer to the phenomena of crisis".

    Tsohatzopoulos stressed the need for quality services in the tourist sector, the creation of a climate of trust and smooth cooperation between the state and businessmen of the sector and the support and upgrade of human capital with emphasis on training and education.

    [17] Greece to hold trade, arts fair in the US next week

    Athens, 02/11/2001 (ANA)

    Greece is to hold a trade and arts fair in Chicago on November 5-6 in order to held boost trade, investments and business between the two countries, the Association of Northern Greek Exporters said on Thursday.

    Taking part in the fair are the representatives of 60 Greek firms who will meet executives of 200 US companies, many of them owned by ethnic Greeks, the association said in a statement.

    Interest by investors in the event, the first of its kind for Greece, is focused on foodstuffs and beverages, textiles, building materials, technology and tourism.

    [18] Manufacturing shows zero growth in October

    Athens, 02/11/2001 (ANA)

    The rate of increase in domestic manufacturing showed zero growth in October at 50.2 points from 50.5 points in the previous month, according to the Greece Purchasing Managers' (PMI) Index released on Thursday.

    The seasonally adjusted index, which offers a broad picture of conditions in the sector, has a dividing line of 50 points between acceleration and slowdown.

    Depressing the October figure was a weakening of the market at home and abroad.

    The monthly index is the outcome of a survey of 300 companies carried out by NTC Research of the United Kingdom in con-junction with the Greek Procurements Institute.

    [19] EU okays Greek employment plan

    Athens, 02/11/2001 (ANA)

    The European Union's executive Commission has endorsed a Greek plan to subsidise jobs, the labor ministry said on Thursday. Under the plan, the government will subsidise the recruitment of 46,000 people at a cost of 70 billion drachmas.

    Priority will be given to hiring the long-term jobless among youth and women, the statement said.

    [20] Renewable energy sources cover 5% of consumption in Greece

    Athens, 02/11/2001 (ANA)

    Renewable energy sources account for five percent of energy consumption in Greece, and six percent of consumption in the entire European Union, the Greek coordinator for the EU's Infoplanet program said Thursday.

    During a press conference in Thessaloniki, Infoplanet's coordinator for Greece Dimitris Papageorgiou and Atlantis Consultants S.A. managing director Angelos Maglis said that renewable energy sources accounted for 5 percent of energy needs in Greece today, and the target was to increase that proportion to 12 percent by the year 2010.

    On an EU-level, renewable energy sources currently accounted for 6 percent of consumption needs, and it was possible to raise that proportion to 20 percent by 2010.

    [21] Industrial production up 1.2 percent in August, yr/yr

    Athens, 02/11/2001 (ANA)

    Greece's composite industrial production index, including figures from mining, manufacturing, electricity-natural gas-water production, rose 1.2 percent in August compared with the same month last year, for an increase of 0.82 percent in the first eight months of the year.

    The mining production index rose 1.8 percent in August, while the manufacturing index increased by 2.4 percent and the electricity-natural gas-water index fell 1.6 percent.

    In the January-August period, the mining index fell by 0.50 percent, the manufacturing index rose by 1.82 percent and the electricity-natural gas-water index dropped by 1.66 percent.

    [22] Committee of world securities group to meet in Greece Friday

    Athens, 02/11/2001 (ANA)

    A European regional committee of the International Organization of Securities Commissions (IOSCO) is to meet in the coastal resort of Vouliagmeni near Athens on Friday.

    The meeting will be chaired by Stavros Thomadakis, president of the Greek capital market commission.

    Forty-two countries are represented on the committee. Each will report national developments in the sector.

    The reports will be followed by an outline of the implementation of IOSCO regulatory standards by its members to be given by the president of IOSCO's executive committee, Fernando Santos.

    [23] Bank merger positive for ASE, Alexakis says

    Athens, 02/11/2001 (ANA)

    A merger between National Bank of Greece and Alpha Bank supports sentiment on the Greek bourse, Athens Stock Exchange chairman, Panagiotis Alexakis said on Thursday.

    Alexakis said that more positive developments were expected in the future to further improve climate in the stock market.

    He urged listed companies to seek new cooperations and mergers to increase their size and to meet the demands of international competition.

    Merger news push ASE 3.5 percent higher: The confirmation of a merger plan between Greece's two largest banks, National Bank and Alpha Bank, created a euphoric climate on the Athens Stock Exchange on Thursday with buyers reappearing in strength.

    Bank stocks were at the center of attention, with investors now expecting more changes both in the banking sector and to other business sectors.

    The general index ended 3.50 percent higher at 2,554.55 points, off the day's highs. The index was 5.38 percent higher early in the session but gains were limited by a late wave of profit taking.

    Turnover was a substantially improved 99.9 billion drachmas, or 293.15 million euros.

    All sector indices scored gains, with the Investment, Banks and IT Solutions leading the advance (12.28 percent, 6.22 percent and 5.38 percent respectively).

    National Bank's share price ended 4.98 percent higher and Alpha Bank's soared 8.18 percent, down from an 11 percent intra-day gain.

    Other bank stocks also scored big percentage gains, with Eurobank up 6.69 percent, Commercial Bank up 6.59 percent, Piraeus Bank up 4.75 percent, Attica Bank up 12.83 percent and General Bank up 14.7 percent. Egnatia Bank soared 15.95 percent.

    The FTSE/ASE 20 index for blue chip and heavy traded stocks ended 4.22 percent higher, the FTSE/ASE MID 40 index rose 4.50 percent and the FTSE/ASE SmallCap 80 index ended 3.31 percent higher.

    Broadly, advancers led decliners by 318 to 30 with another 20 issues unchanged.

    Equity futures end higher: Equity futures on the Athens Derivatives Exchange on Thursday ended higher, gaining at the opening and rising throughout the session, traders said.

    Changing hands were 11,164 contracts on turnover of 72.3 million euros.

    The underlying FTSE/ASE-20 index for heavily traded stocks and blue chips gained 4.22 percent; and the underlying FTSE/ASE-40 for medium capitalization stocks rose 4.50 percent.

    Bond prices rise in brisk trade: Bond prices in the domestic secondary market on Thursday finished higher in heavy trade focusing on 10-year paper.

    The Greek benchmark 10-year bond showed a yield of 4.86 percent, and the yield spread over German bunds was 45 basis points.

    Turnover through the central bank's electronic system totalled 2.8 billion euros.

    Buy orders accounted for the bulk of turnover.

    [24] Cabinet session focuses on law enforcement, 2004 security

    Athens, 02/11/2001 (ANA)

    An upgraded operational plan for better law enforcement in Greece, particularly in the run-up and during the Athens 2004 Olympics, was the focus of Thursday's high-level Cabinet meeting.

    In briefing Prime Minister Costas Simitis and other Cabinet members, Public Order Minister Mihalis Chrysohoidis outlined what he said were upgraded measures against terrorism, organized crime, illegal immigration, drug trafficking as well as the new international threat of bio-chemical attacks.

    On his part, PM Simitis referred to three main "fronts" that Greece's law enforcement community must quash, including illegal immigration; terrorism as well as absolute security for the 2004 Games in Athens.

    "Illegal immigration is a problem that doesn't only affect us in Greece, it affects all of the European Union. Here in Greece we are experiencing the problem in an especially intense fashion because of our geographical position," Simitis said, adding:

    "The guarding of land and sea borders has already been decidedly stepped up, and this vigilance must continue..."

    In terms of security for the 2004 Games, Simitis emphasized that it remains a top priority and that the issue is directly "linked with the country's image. And the country's image is good and should remain good."

    "Public safety, I repeat, is one of our most significant priorities. Modernization, readiness and effectiveness must post higher and higher performance ratings," he told the Cabinet.

    Simitis also took the opportunity to once state that a stern condemnation of terrorism must be accompanied by an organized and multilateral effort at whipping out the scourge.

    "After the events of Sept. 11 dangers emanating from international terrorism are heightened for Greece, as well."

    Chrysohoidis: Regarding security for the 2004 Games, a supreme matter in the wake of the Sept. 11 terrorist strikes in the United States, Public Order Minister Chrysohoidis reiterated that Greece is cooperating with seven of the most experienced countries in the world vis-a-vis counter-terrorism preparedness and major sports events, whereas training and exercises for security personnel has already commenced.

    Another topic of the minister's 70-page report centered on the reorganization of the fire brigade with a view to increase effectiveness.

    Additionally, he announced that a five-year strategic plan has commenced since March 2001 in the road safety sector.

    [25] British parliamentarians demand the return of the Parthenon Marbles

    LONDON, 02/11/2001 (ANA - L. Tsirigotakis)

    A group of British parliamentarians from all parties tabled a draft resolution in Parliament on Thursday, calling on the British government to begin talks with the Greek government immediately on the issue of returning the Parthenon Marbles to Greece in order to enable the historic monuments to be housed in the new Acropolis museum before the start of the 2004 Athens Olympic Games.

    The resolution underlines the Greek government's decision to have the new Acropolis museum built which will include a big glass hall with a view of the Parthenon, where the Marbles are destined to be housed.

    The British MPs also express concern that for as long as the hall remains empty it will constitute defamation for the British government and the British museum in the eyes of the three million foreigners visiting the Acropolis every year.

    [26] Honorary degree for Archbishop Anastasios of Albania from Piraeus University

    Athens, 02/11/2001 (ANA)

    The University of Piraeus has unanimously decided to bestow an honorary Doctorate on Archbishop Anastasios of Tirana and All Albania in recognition of his services to the Orthodox Church and Hellenism, the university announced Thursday.

    It said that the "venerable Prelate" had succeeded in combining the "re-establishment of the severely tried Orthodox Church of Albania with numerous works of charity, social protection and perception.".

    Anastasios "helped the weak and poor, regardless of their nationality and religious beliefs, with the provision of specific services (food, medical care, moral support, psychological support, etc.).

    The Archbishop's multifaceted activities "are the tangible result of his inspired prelacy, emanates from the spirit of the Orthodox religious tradition, and distinguishes the social mission of the Church", the university announcement said.

    [27] Greece participates in book exhibition in Tirana

    Athens, 02/11/2001 (ANA)

    Publishers from the Balkan countries, France and Italy are taking part in the 4th Book and Press Exhibition which began on Friday in Tirana, Albania and will last until Tuesday.

    Taking part in the exhibition will be the Panhellenic Federation of Publishers and Book Sellers which will present books which have been published these past two years, giving particular emphasis to books of the Greek language, literature and history.

    [28] UN envoy de Soto arrives on Friday

    NICOSIA, 02/11/2001 (CNA/ANA)

    UN Secretary-General's Special Adviser for Cyprus Alvaro de Soto arrives here on Friday for a short visit, Cyprus government spokesman Michalis Papapetrou has confirmed.

    The UN envoy will have meetings on Friday afternoon with Cyprus President Glafcos Clerides and Turkish Cypriot leader Rauf Denktash. He will leave early Saturday.


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