Athens News Agency: Daily News Bulletin in English, 05-12-15

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

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

CONTENTS

[01] Nationwide strike a 'great success', labor unionists say

[02] Gov't categorically denies abduction claims involving 7 Pakistani nationals

[03] Bill on public utilities reform approved in principle

[04] Alternate Culture Minister wraps up China visit

[05] EU Summit begins on Thursday

[06] Eurodeputies consider British presidency's proposal on fiscal prospects 'unacceptable'

[07] British FM communicates with Greek counterpart for discussion on EU fiscal prospects

[08] President Papoulias receives new Jerusalem Patriarch Theophilos

[09] Congresswoman Lehtinen urges U.S. gov't to contribute in solution of FYROM name issue

[10] Molyviatis to receive leaderships of Pan-Macedonian groups

[11] 'Stable and effective' cooperation exists with Greek counterparts, Bulgarian minister says

[12] EU Parliament approves storage of telecoms data, Greek MEP objects

[13] Public order minister on Athens blast investigation

[14] Public order minister to hold quadripartite meeting with Iranian, Pakistani and Turkish counterparts

[15] Election of mayors and prefects with 42 pc secures strong local administration organizations, interior minister says

[16] Federation of journalists unions condemns attack on two journalists

[17] Support for Turkish novelist Pamuk expressed in Athens

[18] FM Spokesman on Iranian president's statement concerning the Holocaust

[19] Turkish warplanes violate Greek national air space

[20] Bill passed for creation of National Audiovisual Archive

[21] Greek economy on the right track, Swiss bank says

[22] Business start-ups in Greece declining, ICAP survey finds

[23] Commission opens new round of infringement proceedings against 10 EU members over telecoms rules

[24] PM and tourism minister discuss advertising campaign for Greece

[25] Public works ministry signs contract for Piros-Parapiros water supply project

[26] Eurobank assesses financial sector, economy

[27] Petrol prices in Greece amongst the lowest in Europe for November

[28] Gov't to step up market controls

[29] Greek funding for IT upgrades at Belgrade hospital

[30] Mechaniki signs contract for construction of dam in Patras

[31] NEL to sign memorandum with Calyon Bank for debt settlement deal

[32] Athens Bourse Close: Small cap shares lead rally

[33] Novel by Rea Galanaki presented officially at Cairo Opera

[34] Greek art exhibit to open in NY

[35] Environment Ministry on problem of illegal landfill in Hania, Crete

[36] UNSC discusses resolution on renewal of UNFICYP's mandate

[37] Spokesman says Turkish Cypriot side not changing policy on Ledra

[38] US Embassy denies allegations that the US will recognize occupation regime

[01] Nationwide strike a 'great success', labor unionists say

ATHENS, 15/12/2005 (ANA)

GSEE President Christos Polyzogopoulos said in his address that the participation of working people in the strike and the rally "is already shaking government policy and shouting 'enough is enough' with neo-liberal policies".

The public sectors well as public transport operated with problems on Wednesday due to the 48-hour strike held by GSEE and ADEDY, in reaction to the bill on public utilities and corporations (DEKO). Hospitals and ambulances operated with security staff, while Olympic Airlines flew one flight per destination. Ships were docked at ports while trains did not operate.

On Thursday, the day when the bill on DEKO will be voted, public transport and DEKOs will not operate, while there will be no railway routes.

Taking part in the strike were the Panhellenic Federations of Press Unions (POESY) with a work-stoppage in all mass media from 11 a.m. to 3 p.m.

Private banks and private schools operated normally.

Referring to the law on public utilities, due to be ratified in Parliament on Thursday, the GSEE president said "it is the most unacceptable for working people to be enacted during the post-junta period, since it is attempting to abolish all agreements, not only in the wider public sector but in the private sector as well."

Polyzogopoulos said the laws on eight-hour work, working hours for shops and the social insurance issue regarding bank employees were class-related and unfair.

Speaking on incomes policy and the state budget, he said that working people were "voting against" this policy with their participation on Wednesday.

ADEDY President Spyros Papaspyros, criticizing the budget, said that conditions of a "social winter" are being shaped. He also attacked "neo-liberal policies" and called for the resignation of Bank of Greece Governor Nikos Garganas who, as he said, is operating as an advocate of anti-labor policy.

[02] Gov't categorically denies abduction claims involving 7 Pakistani nationals

ATHENS, 15/12/2005 (ANA)

Several Athens dailies over the summer initially published allegations by the seven Pakistanis, who said they were arrested in a central Athens residence, handcuffed, hooded and interrogated by English-speaking agents for some 48 hours outside of Athens regarding their connections with Britain and London. The alleged incident took place shortly after the suicide bombings in London.

The issue again resurfaced following a BBC report that cited the fact that Greek police will begin an investigation of the allegations following repeated urgings by an attorney representing the seven and repeated inquiries by opposition political parties.

Greek Public Order Minister George Voulgarakis pointed to the fact that the BBC report did not add any new information to the case, whereas he noted that neither the Pakistani embassy in Athens nor Pakistani authorities have been informed of such an incident.

"No such incident existed or exists for Greek authorities," Voulgarakis said.

His statements come ahead of a Thursday conference with Turkish and Pakistani officials over security issues and efforts to combat illegal immigration and organized crime.

On his part, British Foreign Secretary Jack Straw earlier in the week called the allegations "complete nonsense".

[03] Bill on public utilities reform approved in principle

ATHENS, 15/12/2005 (ANA)

Main opposition PASOK leader George Papandreou accused the government of 'fake' reforms that have provoked the reaction of the Greek public, referring to nationwide strikes called by the country's leading trade unions.

"The [Prime Minister Costas] Karamanlis administration claims that those striking are those who do not want to lose their privileges. If this was true you would find us supporters of your efforts. Your hunger for power, your arrogance and easy aphorisms have blinded you to the true needs of the average Greek citizen," Papandreou accused.

"Changes in labor relations can be required in a globalized market. However, they must ensure security to workers and social consensus. You are even abolishing workers' rights to free and collective negotiations," he continued.

Finance Minister George Alogoskoufis responded, saying that "the main opposition leader has proved, once again, that he remains trapped in the prejudices of his cadres and in political stalemates. He must decide whether he stands for the past or the future; whether he supports his party's past, corruption and graft."

Alogoskoufis continued his criticism against the main opposition party, saying that "unfortunately, the main opposition proved that it condemns [reforms] and that it supports partisanship and state domination in economy. Unfortunately, you remain stuck in your past, which the Greek public condemned, since you left behind ruins and now you want to become plaintiffs."

Aleka Papariga, Secretary General of the Communist Party of Greece (KKE), accused both the ruling party and the main opposition of being "completely devoted to their political programs, particularly regarding privatizations, which only serve the interests of major capital."

On his part, Coalition of the Left, Movements and Ecology President Alekos Alavanos criticized the government, noting that "If this government wants to operate based on private [sector] criteria it should resign immediately. You are incapable of managing public assets; your strategy involves only exploiting it. You are a government of a 'divide and rule' philosophy."

[04] Alternate Culture Minister wraps up China visit

BEIJING, 15/12/2005 (ANA/S. Avramopoulos)

"The Chinese government awaits the visit of the Greek Prime Minister [Costas Karamanlis] next month, which will make ties between the two peoples, who share common historical roots, closer," Zhili told Petralia.

It is within this framework that a relevant memorandum will be signed which will designate the period from September 2007 through the end of the Beijing Games in 2008 as "China's Year of Greece."

"During the time that Greece will be the honored country, we want to highlight many common elements shared by the two peoples," Petralia said.

Zhili expressed her satisfaction with the results of the first meeting of the Joint Cooperation Committee for the Olympic Games, adding that the Chinese government appreciates Greece's contribution in helping China prepare for the 2008 Games.

[05] EU Summit begins on Thursday

BRUSSELS 15/12/2005 (ANA)

EU leaders will be meeting with European Parliament President Josep Borrell on Thursday afternoon.

The summit will begin afterwards with a discussion of conclusions reached during the informal meeting at Hampton Court on October 27.

A working dinner will follow where EU leaders will begin talks on the EU budget. A separate dinner will be held for EU foreign ministers who will focus on the Middle East issue.

The Summit will resume on Friday morning with the aim of reaching an agreement on the EU's fiscal prospects.

If necessary, bilateral negotiations between the British EU Presidency and member states will be held on Friday afternoon.

[06] Eurodeputies consider British presidency's proposal on fiscal prospects 'unacceptable'

STRASBOURG, 15/12/2005 (ANA/O. Tsipira)

European Parliament President Josep Borrel said that "what is unacceptable today cannot be acceptable tomorrow. If such a thing happens then it might become a boomerang for us."

Borrel was speaking at the end of the marathon discussion held at the Plenum on the preparation of the European Council which will get under way in Brussels on Thursday.

Ruling New Democracy party Eurodeputy Costas Hadjidakis, who is his group's (European People's Party) coordinator, said "there are many contrasts in discussions taking place at the Council and in the proposals of the British presidency."

He added that "there is a great contrast between great words and ambitions for a strong Europe and the fact that we are giving the EU's budget less than 2.5 percent of the total public expenditures in the 25 member-states. Many rich member-states stand in particular on what they give to the EU's budget. However, they forget that, one way or another, they take back a large part of their contributions due to the unified market, as well as to the structural funds."

[07] British FM communicates with Greek counterpart for discussion on EU fiscal prospects

15/12/2005 (ANA)

[08] President Papoulias receives new Jerusalem Patriarch Theophilos

ATHENS, 15/12/2005 (ANA)

Papoulias stressed in his talks that Greece was determined to help the Jerusalem Patriarchate overcome any difficulties and underlined the importance of the Patriarchate to Greece. Restoring calm and emotional balance in the Jerusalem Patriarchate after the recent upheavals that led to the dethronement of Irineos was the first priority, he added.

"In such times we extend a hand to all, overcome any grumbling and, many times, criticism that is groundless," he said.

The president also reiterated Greece's great interest in a smooth course for the Jerusalem Patriarchate, describing it as a "Patriarchate of great national importance".

Theophilos said he was moved by the reception he had received and expressed thanks for the "active support and interest shown by the Greek State" and the president personally, noting that Papoulias had signaled the importance of the new election and the restoration of calm at the Jerusalem Patriarchate through his presence and in his capacity as president.

[09] Congresswoman Lehtinen urges U.S. gov't to contribute in solution of FYROM name issue

WASHINGTON, 15/12/2005 (ANA)

The Republican Congresswoman of Florida, who is a ranking member of the International Relations Committee, stressed that "is in the strategic interest of the United States to actively assist UN efforts to find a name that is mutually-acceptable to Greece and FYROM."

She underlines that Washington "can play a valuable role, behind-the scenes, to find a win-win name to this now-13 year dispute between our long-time ally, Greece, and our new friend FYROM."

Lehtinen asks of the Bush Administration "to particularly encourage our friends in FYROM" to contribute in finding a compromise solution and to accept the proposals submitted last March by the then UN special mediator Matthew Nimetz.

The Congresswoman also noted that last year's unilateral decision by the U.S. government to recognize FYROM with the name "Republic of Macedonia" "was very injourious to the newly-elected and extremely cooperative government of Greece".

[10] Molyviatis to receive leaderships of Pan-Macedonian groups

ATHENS, 15/12/2005 (ANA)

[11] 'Stable and effective' cooperation exists with Greek counterparts, Bulgarian minister says

SOFIA, 15/12/2005 (ANA/B. Borisov)

"We have very stable and very effective cooperation with Greek colleagues. And I would like to underline the understanding of the Greek side regarding the need for the modernization of the Bulgarian interior ministry with advanced technologies. We have substantive aid on the part of our Greek counterparts on the course of implementing this modernization which, in my view, constitutes a great priority of the ministry over the next four years," Petkov said in reply to a question by the Athens News Agency (ANA) at a press conference he gave here on the occasion of his completing 100 days since the assumption of his duties.

Relevant Greek authorities have repeatedly provided the Bulgarian police with patrol cars, motorcycles and other equipment in past years, while during the visit to Sofia last May by Public Order Minister George Voulgarakis the training of Bulgarian security service men in Athens was agreed to enable them to benefit from experience obtained by their Greek colleagues in guaranteeing excellent security for the Athens Olympic Games, observers reminded.

The Bulgarian police are working hard and as a result crimes perpetrated in the country have been reduced in number and the percentage of murders, armed robberies and other felonies has dropped by 30 percent, according to the relevant minister.

[12] EU Parliament approves storage of telecoms data, Greek MEP objects

STRASBOURG, 15/12/2005 (ANA/O. Tsipira)

The directive, which does not involve the storage of content, was adopted after intense debate.

It includes amendments that were a compromise between the PES (Socialists) and EPP (Christian Democrats) groups with the Council and differed in some key points with the draft directive initially adopted by the Civil Liberties Committee.

In the final text adopted, MEPs are proposing that retention of data be carried out only in specific cases, such as terrorism and organized crime, and not for the prevention of all crimes.

The directive was adopted by 378 votes in favor, 197 against and 30 abstentions.

Ruling New Democracy MEP and head of the party's Parliamentary Group Ioannis Varvitsiotis voted against the directive, saying that "I believe the measures being adopted through the directive will prove completely ineffective in practice. It is certain that criminals will find ways to bypass them - by using internet cafes, for instance - in order to achieve their criminal objectives."

He also noted that the international community needs to agree on a common approach, while better coordination of measures, proper evaluation of data and improved cooperation between national law enforcement agencies are necessary.

Finally, Varvitsiotis also cited technical difficulties in implementing the measure, concluding that "for exactly these reasons, I cannot vote for this directive."

[13] Public order minister on Athens blast investigation

ATHENS, 15/12/2005 (ANA)

"We are working systematically and methodically in order to arrest those individuals involved and take them to court based on indisputable evidence," Voulgarakis said.

"There are some who are anxious to find 'skeletons in the closet' and to dismantle law enforcement agencies. However, this is not a solution to the problem; rather the opposite," he concluded.

[14] Public order minister to hold quadripartite meeting with Iranian, Pakistani and Turkish counterparts

ATHENS, 15/12/2005 (ANA)

Talks between the ministers will focus on the joint handling of illegal immigration, and of human trafficking in particular, and strengthening cooperation to combat drug trafficking and organized crime in general.

The quadripartite meeting follows the official visit Voulgarakis made to Pakistan in May this year, where an initial discussion was held on the need for cooperation between the four countries to confront terrorism, drugs, illegal immigration and organized crime.

The conference had initially been planned to take place in Athens on October 10-11 but had been postponed due to the strong earthquake that had struck Pakistan.

[15] Election of mayors and prefects with 42 pc secures strong local administration organizations, interior minister says

ATHENS, 15/12/2005 (ANA)

Speaking during the debate of the bill titled "Arrangement of issues concerning national, prefectural and municipal elections", Pavlopoulos said that the Municipal and Community Code being processed will also be characterized by the trend to strengthen the role of the two fifths minority. The bill also contains the clause that blank ballots will not be taken into consideration in the election indicator.

Local elections are due to take place in the country in October 2006.

[16] Federation of journalists unions condemns attack on two journalists

ATHENS, 15/12/2005 (ANA)

The two journalists, Christos Michalopoulos and Alexis Ponse, who work for the MEGA television channel, are being treated at an Athens hospital where they were visited by POESY President Dimitris Tsalapatis, General Confederation of Workers of Greece (GSEE) President Christos Polyzogopoulos, Athens Labor Centre President Grigoris Felonis and Athens Journalists Union (ESHEA) President Panos Sombolos.

The board of POESY condemned the attack "in the most categorical way," stressing that "such acts, from wherever they may come and regardless of the expediency that they might be serving, will not dampen the spirit of working people."

"Journalists, together with all working people, are struggling against the commercialization of information, they are demanding the abolition of anti-labor and anti-insurance laws and clauses, the safeguarding of all jobs and the consolidation and implementation of collective labor agreements in both the private and public sectors," the announcement by POESY said.

[17] Support for Turkish novelist Pamuk expressed in Athens

ATHENS, 15/12/2005 (ANA)

"We consider that the public admission of a past historical event will contribute to a catharsis and the affirmation of respect for the standing principle of freedom of expression as a crown jewel of modern civilization, something that absolutely does not harm a country's national stature," a resolution, delivered to the Turkish embassy in Athens, stated.

Pamuk was quoted in a magazine article as saying that 30,000 Kurds and one million Armenians during the last vestiges of the Ottoman era were killed in Turkey, and "no-one dares talk about it".

[18] FM Spokesman on Iranian president's statement concerning the Holocaust

ATHENS, 15/12/2005 (ANA)

Koumoutsakos said:"The recent statements by the President of Iran, concerning the Holocaust are apparent that on the one hand they ignore the historic reality and on the other, not at all contribute to the promotion of peace and the creation of a climate of confidence, which is so important, in the broader region of the Middle East."

[19] Turkish warplanes violate Greek national air space

ATHENS, 15/12/2005 (ANA)

In all cases, the 45 Turkish aircraft were recognized and intercepted by Greek air force jets, while in three cases the interception process developed into mock dogfights. Seven Turkish formations were armed.

The Turkish aircraft are participating in the exercise being carried out by NATO's air operations centre in Izmir under the code-name Command Lightning.

[20] Bill passed for creation of National Audiovisual Archive

ATHENS, 15/12/2005 (ANA)

It is noted that the provision of the bill for the merger of the Macedonian Press Agency and the Athens News Agency was unanimously voted.

[21] Greek economy on the right track, Swiss bank says

ATHENS, 15/12/2005 (ANA)

According to the bank, Greece's GDP growth for the past four years has exceeded not only the European Union average, but also the average growth rate of OECD (Organization for Economic Cooperation and Development) member states.

Greece's performance can be attributed to the reduction in interest rates and economic reforms that were implemented when the country was preparing for European Monetary Union accession in 2001, resulting in increased investments and private consumption, the bank says.

In order to stay on course and to maintain the upward trend in GDP growth in the near future, the government must remain committed to institutional reforms that will improve labor market conditions and increase competitiveness, while also proceeding with the privatization of certain state-run companies, the report says.

Additionally, reform of public funds must be undertaken in the near future, while the pensions issue will need to be addressed in the mid-term, the bank recommends.

Banca del Gottardo believes that the current administration has taken correct steps but urges for a more consistent approach in the future.

The bank forecasts that the Greek economy will grow by 3.8% in 2005 and by 3.5% in 2006.

[22] Business start-ups in Greece declining, ICAP survey finds

ATHENS, 15/12/2005 (ANA)

It said that 3,904 new societe anonyme (AE) and limited liability (EPE) companies had been set up in the year 2004, or 8.7 pct less than the previous year, confirming a trend established in the years since 2001.

Of these, 50.5 pct belonged to the "miscellaneous services" sector, 30.3 pct were commercial concerns and 12.9 pct were industrial, while the rest belonged to the tourism sector. The biggest decline was in industry, where the number of new businesses was 18.9 pct less than in 2003.

The ICAP study showed the majority of the new companies (63.0 pct) were based in Attica, while the reduction in the number of new companies was evident in all regions of Greece with the exception of the Aegean, the Peloponnese and western Greece, which displayed an impressive recovery since 2003.

The concentration of new start-ups in Attica continues to be marked even after the different population densities are taken into account (correcting for the fact that population figures are an indication of potential business people in each area). With this measure, there were 6.26 new companies formed in Attica for every 1,000 inhabitants in the year 2004, compared to a nationwide average of 3.54 companies per 1000 inhabitants.

The figures for 2004 also confirmed a trend for start-ups to have less initial capital - ¬ 422.5 million in total, or 26.0 pct less than the year before - resuming a decline that appeared to have slowed down in 2003.

The drop in initial capital had been more dramatic in the years 2001 and 2002 but this was because four massive companies - including banks and the natural gas utility - had started up in the previous years and artificially boosted the total.

Analysts said the drop in 2004 reflected both a reduction in the number of new businesses but also the reduced size of most new start-ups in 2004, whose average initial capital was ¬ 108,200 compared with ¬ 135,100 in 2003.

There is also a trend for a reduction in the spread of initial capital between start-ups, with a convergence toward the lower end of the scale.

Bucking the trend were new businesses in the tourist sector, where initial capital increased by 5.9 pct in spite of a reduction in the number of new start-ups.

[23] Commission opens new round of infringement proceedings against 10 EU members over telecoms rules

BRUSSELS, 15/12/2005 (ANA)

These 10 countries now have two months in which to respond before facing possible action before the European Court of Justice if they fail to comply with the EU telecom rules. In addition, the Commission sent letters of formal notice (step one in the infringement procedure) to the United Kingdom, Portugal, Cyprus, the Czech Republic and Lithuania.

"Reasoned opinions" constitute "step two" in the Commission's infringement procedure under Article 226 of the EC Treaty.

"Implementing EU electronic communications rules is essential to enable competition and to deliver improved services. I find it regrettable that since the entry into force of the new rules in July 2003, the Commission had to open altogether more than 50 infringement procedures to remedy shortcomings in implementation," Information Society and Media Commissioner Viviane Reding stated on the Commission's website, while adding:

"However, I am pleased that our efforts are now showing positive results in a number of Member States and that we can close today a whole series of cases. I encourage all Member States against whom infringement proceedings are still pending to get the job done as soon as possible, as further delay could seriously endanger growth and jobs in this key sector of Europe's economy."

[24] PM and tourism minister discuss advertising campaign for Greece

ATHENS, 15/12/2005 (ANA)

The meeting focused on current issues at the tourism ministry and the progress of its campaign to advertise Greece as tourist destination that is now underway in all the major cities of the world.

[25] Public works ministry signs contract for Piros-Parapiros water supply project

ATHENS, 15/12/2005 (ANA)

The project's budget amounts to 130 million euros and the contractor company is "Michaniki SA."

Public Works Minister George Souflias said in a statement that "with the signing of the contract for the 'Piros-Parapiros' project, the construction of yet another great project in the prefecture of Achaia (in the Peloponnese) will begin immediately."

He added that "with the Piros-Parapiros water supply dam a final solution will be provided for the acute water supply problem of Patra and Northwestern Achaia until the year 2035, serving 297,390 permanent inhabitants, 11,200 seasonal inhabitants and two million passengers passing through the port of Patra every year and of water supply for 4,035 stremmas of the Patra Industrial Region."

The contract for the Piros-Parapiros dam project includes the construction of the Asteriou and Vardamoura dams on the Parapiros and Piros rivers respectively, as well as related work.

[26] Eurobank assesses financial sector, economy

ATHENS, 15/12/2005 (ANA)

Specifically, the bank's management predicts a 20%-25% increase in consumer credit and growth in corporate lending of 6%-7%.

As for the possibility of Credit Agricole increasing its stake in state-run Emporiki Bank (from an approximate 11% currently), Eurobank believes that this will benefit competition in the sector and in turn consumers.

Regarding Greek banks' expansion in Southeast Europe, Eurobank recommends that any Greek bank looking to expand further in the region should consider doing so independently, since according to Eurobank, acquisition costs will be high.

According to Eurobank's management, economic reforms to date - in terms of liberalizing certain sectors and helping the country to achieve economic convergence with its eurozone peers - are in the right direction.

[27] Petrol prices in Greece amongst the lowest in Europe for November

ATHENS, 15/12/2005 (ANA)

Diesel prices in the east Mediterranean country for November were listed as second lowest on the continent amongst 25 countries in a relevant survey.

According to a continent-wide survey taken on Nov. 16, 2005 -- when Brent crude sold for roughly US$54 per barrel -- Greece and Luxembourg recorded prices of 1.02 euros per litre. The highest price was recorded in the Netherlands, 1.35 euros per liter, followed by Belgium and Germany (1.32 euros/liter)

Diesel was recorded at 0.99 euros per liter in Greece, with only Luxembourg (0.89) recording a lower price.

[28] Gov't to step up market controls

ATHENS, 15/12/2005 (ANA)

The ministry will be sending a circular to the country's prefectures to inform them of its decision.

[29] Greek funding for IT upgrades at Belgrade hospital

BELGRADE, 15/12/2005 (ANA - N. Pelpas)

The centre was represented by its director, Prof. Vojko Djukic.

[30] Mechaniki signs contract for construction of dam in Patras

ATHENS, 15/12/2005 (ANA)

Steel pipes required for the project will be supplied by Elliniki Solinourgeia AE, a subsidiary that is 100 per cent owned by Mechaniki AE.

The project is due to be completed in April 2009.

[31] NEL to sign memorandum with Calyon Bank for debt settlement deal

ATHENS, 15/12/2005 (ANA)

The shipping line's debts came to ¬ 94.5 million on December 31, 2004 and had reached ¬ 97.8 million at the end of September this year.

The terms of the agreement call for the payment of a lump sum of ¬ 30 million to Calyon Bank and 10 pct of the net sum that NEL expects to receive as a result of compensation claim against the company Pielstick, in exchange for the full payment of the loan and release of the company of all its debts toward Calyon.

Calyon is acting on behalf of all the banks participating in the loan in this case, which also include JP Morgan, Natexis Banques Populaires, Credit Foncier de France and KBC Bank NV.

If the above agreement is concluded and after expenses, NEL's net financial position is expected to improve by roughly ¬ 61 billion.

[32] Athens Bourse Close: Small cap shares lead rally

ATHENS, 15/12/2005 (ANA)

The FTSE/ASE-20 index for high capitalization shares ended 0.77 percent up; the FTSE/ASE-40 for medium cap stocks closed 0.66 percent higher; and the FTSE/ASE-80 for small cap shares finished higher by 2.12 percent.

Of stocks traded, advances led declines by 180 to 81 with 64 remaining unchanged.

Stock Futures: