Athens News Agency: Daily News Bulletin in English, 07-03-28

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

CONTENTS

[01] Greek FinMin satisfied with condition of European economy

[02] Inner Cabinet discusses proposed draft law on consumer protection

[03] President Papoulias begins three-day official visit to Hungary

[04] President Karolos Papoulias attends dinner hosted by Hungarian counterpart

[05] Greek FinMin says no political responsibilities in bond issue

[06] Finmin to visit United States

[07] Deputy FM Valinakis speaks on EU's future prospects

[08] ISTAME releases policy document on future of Europe

[09] Praise for Greece at U.S. State Department reception

[10] Education minister on sixth-grade history textbook

[11] Justice ministry actions on combatting people trafficking

[12] Greek and Turkish public prosecutors to meet in Istanbul

[13] Coalition party leader addresses event in Athens

[14] Burgas-Alexandroupoli oil pipeline bill tabled in Parliament

[15] Bill on Ionian Highway ratified by Parliament

[16] Sioufas on the circulation of 1 and 2 euro banknotes proposal

[17] National Bank presents business plan in Bulgaria

[18] PPC says net profits down 83 pct in 2006

[19] Developments in labour market create gloomy reality, PASOK rapporteur says

[20] EFF will allot 185 mln euros to Greek fisheries for 2007-2013

[21] Vivartia Group reports improved 2006 results

[22] Intralot says EBITDA up 59.2 pct in 2006

[23] Greek bond market closing report

[24] ADEX closing report

[25] Greek stocks fall 1.57 pct on Tuesday

[26] Foreign Exchange Rates - Wednesday

[27] UNICEF Radiothon for vaccinations programme

[28] Culture minister presents 'Athina' system of theatrical performances

[29] Poor psychiatric services in Greece, director says

[30] Venizelos' chair on display in Thessaloniki Railway Museum

[31] WWII German bomber fished by trawler at the coast of Larisa

[32] Truck driver killed in collision with train

[33] Coast Guard inquiry into lost service revolver

[34] Mediterranean Games Bid Committee presents 'Volos-Larissa 2013' candidacy

[35] Overcast on Wednesday

[36] The Tuesday edition of Athens' dailies at a glance

[37] Security Council welcomes demolition of Ledra Street wall

[38] Becket says legal difficulties in direct flights to Turkish occupied areas

[39] Russia says understanding alone can lead to solutions

[01] Greek FinMin satisfied with condition of European economy

The Greek government's main priority was to support lower incomes and combating poverty, Alogoskoufis said, noting that the government has already announced the formation of a special fund, budgeted at 2.0 billion euros, to support all Greek citizens living below poverty levels.

The Greek minister reminded that the government has already offered significant increases in low pensions, along with a 22 percent rise in supplementary pension payment and an 18 percent increase in unemployment benefits. Real wages rose by 3.2 pct in 2004, 2.7 pct in 2005 and by 1.6 pct in 2006, while this year's rise is forecast at 3.0 pct.

The ECOFIN meeting in Brussels adopted a community directive to create a single financial market in the EU by 2010. The new directive will allow consumers to use their bank cards throughout the eurozone region under the terms valid in the country of origin. Additionally, bank cards could be used in any other European state. Creating a single financial market is expected to boost competition in the market. The directive needs approval from the European Parliament.

[02] Inner Cabinet discusses proposed draft law on consumer protection

Development minister Dimitris Sioufas told reporters after the meeting that the bill would create a new, modern and efficient framework for protection of the consumer, supplementing and amending existing Law 2251/1994 which, he said "was a good law".

Sioufas noted that 12 years have elapses since the passing of the current law, stressed that adaptation was needed to the new operational environment of the markets, iin order to more effectively protect the citizens on the one hand and to contain stricter sanctions for transgressors of the legislation who defraud the citizen/consumer on the other hand.

He said it also gives consumers consumers, but also the consumer organisations, which will acquire the ability of nationwide operation, to also intervene in the operation of the markets aimed at their smoother operation.

"The big strength is not found only in the laws and the implementation of the laws, but it is also in the hands of the citizen himself, who researches, searches, reports and charges incidents of violation of the legislation, thus consolidating his own interests in the best possible way, with the smoother operation of the markets," the minister said.

Development deputy minister Yannis Papathanassiou stressed that, for the government, the consumer was the top priority, adding that "we prove this with all our actions and interventions, culminating in this draft law, which has met with the overwhelming acceptance of all the consumer organisations and agencies".

PASOK party rapporteur Christos Papoutsis on consumer protection

Main opposition PASOK party Development, Tourism and Shipping rapporteur Christos Papoutsis, commenting on Tuesday's Inner Cabinet meeting on the draft law on consumer protection, painted a dark picture of the reality facing every consumer.

"The reality for every consumer in the market today is high prices, profiteering, speculation and the lack of controls for the quality of products. And the government has a great responsibility for this situation," Papoutsis said.

[03] President Papoulias begins three-day official visit to Hungary

Papoulias agreed with his Hungarian counterpart that the democratisation and stabilisation of the western Balkans must proceed and on the Kosovo issue for a solution to be found for the common interest, acceptable by the two sides.

President Solyom added that this solution should not lead to the strengthening of nationalism in Serbia.

The Greek president noted that "we must not be in a hurry," adding that "we must make every effort so that the solution to be mutually accepted by the two sides, in order for there to be no danger of a dramatic explosion to the Kosovo problem."

President Papoulias is accompanied by National Defence Minister Evangelos Meimarakis, Deputy Foreign Minister Evripidis Stylianidis and a group of Greek entrepreneurs.

[04] President Karolos Papoulias attends dinner hosted by Hungarian counterpart

President Karolos Papoulias, speaking during a formal dinner hosted in his honour by Hungarian President Laszlo Solyom on Tuesday night, reiterated Greece's support for Turkey's European course, but stressed the need for the neighbouring country to fulfill commitments it has undertaken and to put an end to occupation in Cyprus.

"This country, Turkey, must fulfill absolutely all the terms and preconditions that the European Union has set and neither, of course, is it understandable for a candidate country to occupy militarily a part of an EU member-state," President Papoulias said.

President Papoulias referred to ties between Greece and Hungary throughout the centuries and pointed out that "Hellenism in Hungary was enriched further after World War II with the settling in the country of a considerable number of Greek political refugees, who found refuge and hospitality after the end of the Greek civil war."

He also said that Greece and Hungary have converging positions on the constitutional and institutional issue of Europe and noted that "we support the completion of the undertaking in the most effective way for the interests of the EU, as well as the efforts of the German Presidency to propose in June suitable steps for the further course, to enable a solution acceptable to all to be found that will promote the European constitutional treaty plan."

Referring to the issue of Kosovo, President Papoulias said that Greece "looking forward to the need for stability in the region, is bent on the goal of a settlement that could be acceptable to both sides and will not be imposed hurriedly and will be based on international law and the principles of the UN."

President Papoulias will be visiting the village "Nikos Beloyiannis" on Wednesday and will be holding meetings with the leaders of Hungarian parties.

[05] Greek FinMin says no political responsibilities in bond issue

Greek Economy and Finance Minister George Alogoskoufis on Tuesday urged for a wide cooperation between his ministry and all independent authorities responsible for domestic markets and proper management of public money to prevent similar cases, such as a recent one with the purchase of high-risk bonds by pension funds.

Speaking to reporters, in Brussels , the Greek minister said the case with Acropolis Securities was revealed by the government and noted that a judicial investigation was currently underway to legally examine the case. Alogoskoufis noted that the case highlighted how "greedy stockbrokers took advantage of pension funds' managements to sell high-risk bonds".

The Greek government has already taken measures to stop such practices, such as a temporary ban on buying and selling of bond derivatives by pension funds. Alogoskoufis stressed there were no political responsibilities in the case, but a regulatory framework with chronic weaknesses.

Alogoskoufis said that due to a huge public debt inherited by the current government, the Greek state issued state bonds worth 35 billion euros annually. "Most of these bonds were either auctioned, or were syndicated issues, while a smaller part were structured bonds," he said. He noted that the state could not monitor the movement of bonds in the international secondary market, but stressed that pension funds should avoid investing in such products. He acknowledged that pension funds often broke a regulation prohibiting investments above 23 percent of their reserves.

Gov't spokesman on bonds market issue

Government spokesman Theodoros Roussopoulos on Tuesday noted that "there is no issue of a (government) reshuffle" taking place, while he remarked on statements made by New Democracy (ND) Parliamentary Group Secretary Apostolos Stavrou, who referred to the competencies of Prime Minister Costas Karamanlis on "the eventuality of sanctions imposed" on Employment and Social Protection Minister Savvas Tsitouridis, according to developments in the bonds market issue.

As for the operation of the bonds, the government spokesman underlined that "a bond yields in the end," reiterated that "the Funds have an autonomous procedure" and that "all the purchases were unanimously taken by the boards."

Roussopoulos stressed that "until 1990-91, the placement of the Funds' money was naught." He further presented the performances of the Funds over the recent years, stating that "in 1993 the Funds' reserves were about 3,285 million euros, in 2003 the Funds' reserves were 21,826 million euros, in 2004 they were 25,637 million euros and in 2005, 28,912 million euros."

The spokesman went on to say that "we therefore see that false impressions are being created, while the government strengthened transparency, giving through the Internet all the data which refer to the Funds' real estate and mobile wealth."

Sioufas, Papathanasiou on social insurance funds affair

The changes and reforms the government continues to introduce give people and society a sense that the new governance takes an interest in Greek citizens and meets the commitments it has undertaken, stated Development Minister Dimitris Sioufas on Tuesday.

He was responding to a question on whether the overpriced bonds case has affected public opinion and opinion poll results.

Sioufas stated that the government is capable of protecting public interest and people are aware of that because the issues in question were brought to light as a result of government initiatives.

Deputy Development Minister Yiannis Papathanasiou underlined that the Akropolis brokerage firm began cooperating with pension funds in 1998 and rejected allegations that this was a recent practice.

The practice of selling bonds at inflated prices that was unveiled by the Capital Market Commission (CMC) had gone on for years, causing losses to pension funds, and all the guilty parties would be punished, he said.

Papathanasiou added that until now the competent authorities did nothing about the problem, whereas this government believes that the CMC's role is to trace and bring to light such issues, while the state's role is to undertake punitive action.

PASOK's Damanaki says bond purchases by funds should be released

Main opposition PASOK MP Maria Damanaki on Tuesday said that figures for all social insurance fund transactions involving structured bonds in 2005 and 2006 should be released, stressing that the losses incurred by funds in that period were estimated to be in the region of 400 million euros.

She said PASOK would make use of every option at its disposal to ensure that ministers were called before Parliament's Economics and Social Affairs Committee, that the head of Greece's money-laundering watchdog Georgios Zorbas was called before Parliament's Institutions and Transparency Committee and that these issues would be subjected to Parliamentary control.

PASOK also released a list of dozens of social insurance funds that had invested in structured bonds over those two years but without figures showing which, if any, had suffered losses as a result, Damanaki said.

Fund losses must be repaid, PASOK stresses

The Greek people demand that the money lost through the mismanagement of social insurance fund reserves be returned before the next elections, main opposition PASOK spokesman Petros Efthymiou stressed in statements on Tuesday.

"The Greek people have two demands. One is for the truth to shine out, where and to whom the money went to. And the second is the demand of the Greek people to the person responsible for this affair, the prime minister that undertakes responsibility, to bring the money back to the funds before the elections," Efthymiou said.

He underlined that the responsibility lay squarely on the government's shoulders, especially those of the finance and employment ministers, and with Prime Minister Costas Karamanlis "who is providing backing for the cover-up operation underway".

Efthymiou also accused the ruling party of "political cynicism" and criticised statements by government ministers on this issue, while claiming that the finance and employment ministries had "orchestrated and set up mutual mechanisms so that there was a movement of complex structured bonds with the sole aim of generating the intermediate commissions and the sole result of reducing fund reserves with these catastrophic investments".

PASOK's spokesman additionally accused the government of virtually cancelling monitoring mechanisms at the central bank, in the form of a monitoring committee for fund assets:

"Bank of Greece deputy governor Panagiotis Thomopoulos testified in Parliament that this committee convened 43 times between 2000 and 2004 and was then abolished in practical terms after 2004. It was in this gap that the unbelievable plundering of the funds took place," Efthymiou said.

It was obvious that the government should already have made public all the figures concerning transactions in the bonds, since the things already known were a major criminal offence, he added.

In response to other questions, meanwhile, the spokesman stressed that the primary repercussions of the affair was that the reserves of the Greek people in the funds had been reduced to a depth and extent known only to the government, while underlining that the political responsibility for the affair was inescapable.

Government spokesman

Government spokesman Theodoros Roussopoulos, replying to the main opposition PASOK party's spokesman, said on Tuesday that the government is taking all necessary measures to effectively safeguard public interest, the property of social insurance funds and the toil of working people.

"It (PASOK) knows that, contrary to what used to take place in the past, at the initiative of the Karamanlis Government, every case concerning public interest is led before independent Justice today," Roussopoulos said.

The government spokesman added that "it knows that, contrary to the covering up and impunity of yesterday, today, those responsible, whoever they are, wherever they are, are revealed and give an account of their actions."

[06] Finmin to visit United States

The minister will depart from Brussels on Tuesday after the ECOFIN Council and meet with International Monetary Fund (IMF) managing director Rodrigo de Rato on Wednesday morning, after which he is to address a business conference organised by the Hellenic American Heritage Council.

Alogoskoufis is then due to speak at the U.S. Congress and meet World Bank President Paul Wolfowitz, while on Wednesday afternoon he will speak at an event organised by the American Hellenic Institute to mark the Greek independence day holiday of March 25.

On Thursday, Alogoskoufis is scheduled to meet Federal Reserve Chairman Dr. Ben Bernanke, followed by successive meetings with Deputy Treasury Secretary Robert Kimmit and Under Secretary of State for Political Affairs Nicholas Burns.

During his stay in Washington, the Greek finance minister is also expected to grant interviews to the U.S. media and hold a press conference for Greek journalists.

[07] Deputy FM Valinakis speaks on EU's future prospects

The Berlin Declaration was signed in Berlin last Sunday during an informal EU summit meeting.

"We cannot continue to build Europe of tomorrow with yesterday's tools," Valinakis said at the event, which was held at the foreign ministry's amphitheatre.

Among the speakers were German Ambassador to Athens Dr. Wolfgang Schultheiss, as well as the ambassadors of the founding member-states of the European Union.

Positions and views were exchanged at the debate on the course of European unification, as well as on future prospects.

[08] ISTAME releases policy document on future of Europe

The text was prepared by a working group made up of Nikos Themelis as chairman, Panagiotis Ioakeimidis, Ilias Plaskovitis and Panagiotis Tsakonas to mark the 50th anniversary since the foundation of the European Union.

The authors stressed the need to overcome the extended crisis within the EU by adopting a European Constitution or, alternatively, at least a treaty for the institutional organisation of the EU, so as not to cut short the process of European integration.

They also pointed to the basic conflict currently dominating the Community over whether its future development should be restricted to the loose bonds of a unified market or to deeper, political unification of Europe.

[09] Praise for Greece at U.S. State Department reception

U.S. Deputy Secretary of State John Negreponte addressed a reception given by the State Department on Tuesday for representatives and journalists from the European Union's 27 member-states on the occasion of the EU's 50th anniversary, mentioning his Greek origin and stressing Greece's influence on what is currently called united Europe. He also noted on the occasion that March 25 is Greek Independence Day.

Negreponte was followed by the European Commission's ambassador in Washington, former Irish prime minister John Brutton who referred to the considerable contribution of Ancient Greece and of its philosophers to the shaping of principles governing the EU.

American speakers congratulated Europe for its achievement, terming it "an example worth copying," while the Europeans thanked the United States and the "visionary American foreign policy" of the postwar period which, as they said, helped Europe to attain what it has achieved.

[10] Education minister on sixth-grade history textbook

Critics of the book, including historians, officials, representatives of various groups, primarily Pontian organizations and the Church of Greece believe that its authors have not provided enough information about key moments in Greek history.

Yiannakou stated that she disagrees with the book in many instances but scientific issues of that kind should be judged on scientific grounds, following the appropriate procedures.

The Athens Academy is the supreme academic institution in the country, has presented its observations and the history textbook authors will make the corrections, stressed Yiannakou, calling on everybody to be patient and level-headed.

[11] Justice ministry actions on combatting people trafficking

Panouris, who is chairman of the inter-ministerial committee for combatting the illegal trafficking of persons, noted that Greece has been upgraded from category three to category two in the global list of efforts and work in combatting people trafficking.

He said that the State has to face powerful networks trafficking in women and children, which were constantly developing with respect to the ways and methods they used, adding that the legislative framework in Greece on protection of victims of trafficking was adequate, and that the relevant inter-ministerial committee -- comprising nine secretaries-general from seven ministries -- had accomplished serious work, while the protection mechanism for victims was constantly being reinforced, in cooperation with the health ministry and non-governmental organisations (NGOs).

Panouris noted that assistance and protection had been provided to 39 victims in 2006, of which 15 were from Russia and five from Romania, while victims of trafficking and prostitution rings numbered 206, of which 142 were of Greek origin, 28 were Albanian, and 12 were Bulgarian.

Also, in 2006, the preliminary incarceration (pending trial) of 144 people traffickers was ordered by the investigating magistrate.

[12] Greek and Turkish public prosecutors to meet in Istanbul

It is the first time that such a meeting between the two countries' public prosecutors is being held.

Thessaloniki Court of First Instance public prosecutor Vassilis Floridis will head the Greek delegation. Floridis took the initiative for the visit to the neighbouring country.

The Greek public prosecutors will visit Ecumenical Patriarch Vartholomeos at the Phanar on Sunday.

[13] Coalition party leader addresses event in Athens

Alavanos expressed optimism over the Coalition party's course, while a large part of his address was dedicated to student unrest, stressing that "we shall continue steadfastly to have our meeting with the new generation as a central orientation."

He expressed the view that "the student movement, in the framework of the entire educational movement, is overturning all the constitutional reform of New Democracy (the ruling party). It is breaking bipartisan consensus. It is changing political life. It is setting new terms for resorting to elections, where the issue of education will be among the leading issues."

Lastly, Alavanos referred to the issue of social insurance funds' reserves, saying that "bipartisan rule is dominant in the scandals of armaments purchases. In the scandals concerning the 'bubble'

at the stock exchange. In the scandals with the milk cartel and the 'best men'. In the scandals of the social insurance funds."

Financial News

[14] Burgas-Alexandroupoli oil pipeline bill tabled in Parliament

According to the report accompanying the bill, the operation of the pipeline will contribute, on the one hand, to the limitation of the transportation cost of oil and petroleum products, entailed by the delay in their transportation through the Bosporus Straits, and, on the other hand, to a decrease in environmental risks that are linked to ever-increasing movement in the traditional paths for the transportation of hydrocarbonates and other energy resources in the wider region.

[15] Bill on Ionian Highway ratified by Parliament

Voting for the bill were deputies of the two mainstream parties, ruling New Democracy and main opposition PASOK.

Environmemnt, Town Planning and Public Works Minister George Souflias underlined the importance of the project for the country's development and assured the House that works for the highway will begin in May.

[16] Sioufas on the circulation of 1 and 2 euro banknotes proposal

The negative effects resulting from the absence of small banknotes have become more than obvious in realizing the value of a currency and in the smooth operation of the market, said Sioufas.

The development minister stated that he intends to brief European Central Bank President Jean-Claude Trichet, Bank of Greece Governor Nikos Garganas, European Commission vice-president Gunter Verheugen and EU Competitiveness Council President Michael Glos on the issue.

The European Central Bank, stressed Sioufas, should reconsider its stance because it has been widely accepted that the 1 and 2 euro banknotes are necessary for the smooth operation of the market and their circulation could aid efforts aimed at tackling high prices. The top priority is the interest of the European citizens and consumers and not the European Central Bank's operating costs, said Sioufas.

[17] National Bank presents business plan in Bulgaria

The year 2006 was a landmark year for National Bank, with profits surpassing the 1.0 billion euros mark while a significant part of them came from the bank's investments abroad, Yiannis Pehlivanidis, National Bank's deputy chief executive said in Sofia on Tuesday.

Presenting the bank's three-year business plan for the period 2007-2009 to the Bulgarian financial press, Pehlivanidis said that almost half of National Bank's shareholders were foreigners. National Bank has already established presence in six Balkan states, while with the acquisition of large commercial banks in Serbia and Turkey in 2006, the bank's customer base totaled 11 million people in a population of 125 million in the wider region.

National Bank's three-year business plan envisages an average annual growth of 25 percent in profits, a rate already surpassed by the bank's subsidiary in Bulgaria UBB (pre-tax profits rose 36 percent to around 80 million euros in 2006), UBB's chief executive Stylian Vatev told ANA-MPA.

Pehlivanidis also expressed the bank's full satisfaction with the acquisition of Turkey's Finansbank.

[18] PPC says net profits down 83 pct in 2006

PPC said revenues rose 11.6 pct to 4.79 billion euros in 2006, from 4.29 billion in 2005, while pre-tax, interest and amortization earnings fell 21 pct to 739.7 million euros, from 900.7 million euros in 2005.

Financial expenses fell by 4.1 pct to 123.2 million euros, while investments totaled 713.3 million euros in 2006. Revenues from the sale of electricity power rose 12 percent to 4.442 billion euros last year, reflecting mainly a 5.8 pct increase in the volume of sales.

Operating spending, pre-amortization, jumped 19.4 pct to 4.048 billion euros last year, reflecting higher cost of fuel, while spending on energy purchase soared 118.3 percent to 523.8 million euros over the same period.

Pre-tax, interest and amortization earnings (EBITDA) rose 17.9 pct to 739.7 million euros, while payroll spending rose 7.1 pct to 1.360 billion euros. PPC said its financial spending fell by 4.1 pct to 123.2 million euros in 2006.

Participation in affiliated companies' losses fell to 7.0 million euros last year, from 13.2 million euros in 2005, reflecting mainly its participation in Tellas SA.

PPC said its workforce totaled 26,208 people last year.

PASOK, Coalition parties comment on decrease in DEH's profit-making in 2006

Main opposition PASOK party Development, Tourism and Shipping rapporteur Christos Papoutsis, commenting on Tuesday on the decrease in the profit-making of the Public Power Corporation (DEH) in 2006, said that the government's "responsibility is very great for the steady decrease in the profit-making of DEH, the disdaining of our country's biggest public corporation and for uncertainty over its future," adding that "unfortunately, the people will pay the bill once again with increased rates."

Referring to the same issue, Coalition of the Left, Movements and Ecology (Synaspismos) party Political Bureau member and Economic and Social Policy rapporteur Panayiotis Lafazanis said that "the meagre economic results announced by DEH for 2006, despite increases in its rates, are to a great degree the result, apart from the mismanaging and robbing that DEH is experiencing from big private interests in the energy sector, that profiteering at its expense with the increase in the marginal price of the system and at a time when the development of new units has been scandalously forbidden in DEH, as well as its participation in relevant tenderings."

[19] Developments in labour market create gloomy reality, PASOK rapporteur says

Damanaki presented data showing that working people's remuneration amounts to 65 percent of the corresponding European Union 15-nation average, a fifth of the labour force lacks social insurance, while working time, assessed on an annual basis, amounts to 1,800 hours in Greece compared to 1,697 in the EU.

She went on to say that "after 2005, the EU country with the greatest flexibility favouring the employer, following Britain, is Greece," which is also among the last in the EU as regards labour security and last, together with Portugal, in expenditures for training, retraining and lifelong teaching for working people."

Lastly, Damanaki spoke of a policy of the New Democracy (ND) government having a "distinct class content," adding that "the strategy of ND focuses exclusively on strengthening competitiveness through the decrease in the cost of labour."

[20] EFF will allot 185 mln euros to Greek fisheries for 2007-2013

The European Fisheries Fund (EFF) will allot 185 million euros to Greek fisheries for the period 2007-2013.

According to an announcement by the European Commission on Tuesday, the total amount which the EFF destines for the support of European fisheries comes to 3.8 billion euros.

The member-states are called on to set up their own operational programmes which the EFF will finance on the basis of specific rules set by the European Commission.

The Commission will then examine whether the programmes are aligned with the objectives of the Common Fisheries Policy and it will decide their approval during the second half of 2007.

[21] Vivartia Group reports improved 2006 results

Earnings per share jumped 40 percent to 0.67 euros in 2006, from 0.48 euros in the previous year.

The Group stressed that published figures (current activities) were not fully comparable since they reflected changes in its structure (termination of cooperation with Danone, absorption of Chipita International). Vivartia said that comparable figures showed that sales grew 25.2 pct last year to 731.3 million euros, EBITDA were up 11 percent to 114.2 million euros and net profits rose 35 percent to 44.4 million euros.

The company said it expected its sales to grow by an average annual rate of 8.0 percent in the three-year period from 2007 to 2009, exceeding 1.1 billion euros, its EBITDA to grow by an average annual rate of 14 percent to more than 200 million euros and its earnings per share to double.

Vivartia said its board planned to pay an 1.25 euros per share extraordinary dividend to its shareholders. The Group plans to expand activities in Saudi Arabia , India , China and to further expand in Southeastern Europe .

Pantelis Economou, Vivartia's chief financial officer, said the group was near signing a business agreement in Saudi Arabia to set up a joint venture in the country, while similar plans were examined in China and India .

Economou said Vivartia would boost its reserves to 400 million euros and noted that the money would be used for acquisitions in Southeastern Europe.

[22] Intralot says EBITDA up 59.2 pct in 2006

Pre-tax profits, excluding stock options, jumped 56.2 percent to 235.1 million euros last year, while including stock options totaled 223.6 million euros, up 48.6 pct from 2005.

Pre-tax, interest and amortization earnings (EBITDA) jumped 59.2 pct to 254.8 million euros, while revenues from international activities totaled 595.4 million euros, or 75.2 percent of total turnover in 2006, up from 52.3 pct in 2005. International activities accounted for 69.5 pct of total pre-tax profits (155.6 million euros), slightly down from a 71.6 pct rate in 2005.

Parent turnover rose 86.8 pct to 231.1 million euros, pre-tax profits (excluding stock options) rose 45.2 pct to 109.2 million euros.

Intralot said it planned to pay a 0.66 euros per share dividend to its shareholders, up 20 percent from 2005.

[23] Greek bond market closing report

The 10-year benchmark bond (July 20, 2017) was the most heavily traded security with a turnover of 1.395 billion euros. The yield spread between the 10-year Greek and German bonds was 0.24 percent, with the Greek bond yielding 4.27 pct and the German Bund 4.03 pct.

In the domestic interbank market, interest rates were largely unchanged. National Bank's overnight rate was 3.82 pct, the two-day rate was 3.82 pct, the one-month rate was 3.86 pct and the 12-month rate rose to 4.15 pct from 4.13 pct on Monday.

[24] ADEX closing report

The June contract on the FTSE 20 index was traded at a discount of 2.57 pct, while the April contract on the FTSE 40 index at a discount of 1.25 percent.

Volume in futures contracts on the FTSE 20 index totaled 7,457 contracts worth 91.175 million euros, with 25,092 open positions in the market, while on the FTSE 40 index volume was 361 contracts worth 10.339 million euros with 1,258 open positions.

Volume in futures contracts on equities totaled 6,463 contracts, worth 6.738 million euros, with investment interest focusing on GEK's contracts (818), followed by Eurobank (308), OTE (382), PPC (437), National Bank (549), Alpha Bank (456), Intracom (675), Mytilineos (630).

Volume in stock repos was 2,927 contracts and in reverse stock repos 5,004 contracts.

[25] Greek stocks fall 1.57 pct on Tuesday

Sector indices ended lower, with the Insurance (2.11 pct), Telecoms (2.05 pct) and Constructions (1.97 pct) suffering the heaviest percentage losses of the day, while the Commerce (0.68 pct), Raw Materials (0.40 pct) and Healthcare (0.26 pct) scored gains.

The Big Cap index fell 1.85 pct, the Mid Cap index ended 0.26 pct down and the Small Cap index eased 0.83 pct.

Boutaris (9.80 pct), Galaxidi (9.48 pct), Ekter (8.22 pct) were top gainers, while Ergas (17.65 pct), Daios Plastics (9.74 pct) and Rocas (8.65 pct) were top losers.

Broadly, decliners led advancers by 173 to 80 with another 52 issues unchanged.

Sector indices ended as follows:

Insurance: -2.11%

Industrials: -0.86%

Commercial: +0.68%

Construction: -1.97%

Media: -0.32%

Oil & Gas: -0.55%

Personal & Household: -1.04%

Raw Materials: +0.40%

Travel & Leisure: -1.51%

Technology: -0.02%

Telecoms: -2.05%

Banks: -1.78%

Food & Beverages: -1.51%

Health: +0.26%

Utilities: -1.80%

Chemicals: -1.12%

Financial Services: -0.38%

The stocks with the highest turnover were Marfin Popular Bank, National Bank, OPAP and OTE.

Selected shares from the FTSE/ASE-20 index closed in euros as follows:

Alpha Bank: 22.90

ATEbank: 3.82

Public Power Corp (PPC): 19.80

HBC Coca Cola: 31.10

Hellenic Petroleum: 10.72

Emporiki Bank: 20.94

National Bank of Greece: 40.34

EFG Eurobank Ergasias: 30.10

Intralot: 23.30

Cosmote: 23.20

OPAP: 28.90

OTE: 20.40

Titan Cement Company: 40.50

[26] Foreign Exchange Rates - Wednesday

U.S. dollar 1.345

Pound sterling 0.684

Danish kroner 7.51

Swedish kroner 9.392

Japanese yen 159.17

Swiss franc 1.634

Norwegian kroner 8.192

Cyprus pound 0.585

Canadian dollar 1.555

Australian dollar 1.662

General News

[27] UNICEF Radiothon for vaccinations programme

In a press conference on Tuesday, the director of the Greek branch of UNICEF Lambros Kanellopoulos presented figures concerning vaccinations worldwide, noting that vaccination programmes saved more than two million lives a year.

He also noted, however, that 27 million babies and 40,000 pregnant women were not currently protected by basic vaccinations and that 2.5 million children under five die of preventable diseases each year.

The largest numbers of children that have not been vaccinated are in India, Nigeria, China, Pakistan, Ethiopia, Indonesia and the Congo.

UNICEF provides vaccines for 40 percent of the children in developing countries, Lambropoulos said.

On the day of the radiothon, donations can be made at the phone line 210 336 2800, while on the days before and after the radiothon, donations can also be deposited at the following bank accounts:

National Bank 169/ 480020-64

Commercial Bank 031 / 80 191 081

Attica Bank 069 / 54799691

Millenium Bank 51 98 29

Eurobank 0026 -0102-14-0100540998

Alpha Bank 115 00 2002 017649

Piraeus Bank 5049-022842-011

Agricultural Bank 017 04 0044 16-70

Cyprus Bank 000012163468

Citibank 55 02 346484

Aspis Bank 101-03-0006583

HSBC 002-066694-130

Donations can also be paid at National Bank of Greece cashpoint machines or the UNICEF web-page www.unicef.gr

[28] Culture minister presents 'Athina' system of theatrical performances

In a press conference he gave on the theatre sector, he announced subsidies for theatres, while he made clarifications on the bill concerning Theatre and Dance which will be tabled in Parliament on Wednesday and is expected to be voted after Easter.

The System "Athina" is being implemented this year on a pilot basis from May 16-20 and will be repeated every year, during the same period, while in its complete form, it will be presented in 2008.

It is organised by the Hellenic Centre of the International Theatre Institute and by the culture ministry's Organisation for the Projection of Hellenic Culture.

Regarding the National Theatre and Dance Centre and its institutionalisation with the law of the state, Voulgarakis stated that the tabling of the relevant bill in Parliament coincides with the celebration of World Theatre Day.

As the culture minister stated, "it concerns a brave institutional initiative which aims at the complete restructuring of the theatrical and dance Greek reality."

[29] Poor psychiatric services in Greece, director says

He was speaking at an event on the theme titled "Law and Psychiatric Ethics".

Vartzopoulos noted that the Thessaloniki Psychiatric Hospital is the only hospital in Greece which has a department for persons with diminished responsibility and who number 55 patients. He said that in the other hospitals, individuals with diminished responsibility are treated along with the other patients.

[30] Venizelos' chair on display in Thessaloniki Railway Museum

The truce was signed on July 1, 1913 at the train station of Vironia, in Serres northern Greece, where the Greek army headquarters were based, and the agreement reached then was the prelude to the Treaty of Bucharest.

[31] WWII German bomber fished by trawler at the coast of Larisa

Captain Konstantinos Damoultzis could not believe his eyes when his nets brought to the surface, from a depth of over 100 meters, the tail section of a German Junkers bomber.

The aircraft was probably downed on April 11-13, 1941 during extensive air operations launched by the Nazis in the wider region.

The Greek Air Force will proceed with the evaluation of the find to decide if it will be placed on display in the Air Force Museum, taking under consideration the aircraft's indisputable historical

value, within the framework of a programme aimed at salvaging rare types of aircraft.

Roughly 34 "Ju-88" bombers have been found worldwide and 13 of them are just wreckage.

Fully rebuilt aircraft of this type are on display in only two Air Force Museums in the world, the RAF Hendon and the USAF Dayton, while similar projects are underway at Berlin's Technical Museum.

[32] Truck driver killed in collision with train

The accident happened early on Tuesday morning when the truck crossed the railway lines ignoring the warning lights and collided with a passenger train en route from Thessaloniki to the city of Serres.

[33] Coast Guard inquiry into lost service revolver

The officer, whose handgun was lost at some point during the parade and the desk officer, who collected the weaponry used by the Coast Guard unit after the parade was over, have already testified.

The inquiry is expected to focus on the officer to whom the lost handgun belonged and the Coast Guard Weaponry Office personnel.

Sports

[34] Mediterranean Games Bid Committee presents 'Volos-Larissa 2013' candidacy

The event was attended by representatives of the country's political and sports authorities, who declared their support for the two cities' candidacy to host the Mediterranean Games in 2013.

The formal presentation of the Greek candidacy was made by Isidoros Kouvelos, President of the Bid Committee and Vice President of the Greek Olympic Committee.

Government officials present at the event included Foreign Minister Dora Bakoyannis, Tourism Development Minister Fani Palli-Petralia and Deputy Interior, Public Administration and Decentralisation Minister Athanasios Nakos.

Greek Olympic Committee President Minos Kyriakou said that "following the upgrading of the Olympic Games in 2004 and the successful experience of the 1991 Mediterranean Games in Athens, Greece will have the opportunity of undertaking one more tournament and an entire region, such as Thessaly is, of enjoying the benefits they entail. The Games aim at the creation of close ties of friendship between the peoples of the Mediterranean."

Kouvelos said that the budget for the Games will be balanced, while expenditures are expected to total 76 million euros. He added that the important point concerning revenues will be sponsorships that are expected to amount to 47 million euros. This figure will account for 61.8 percent of revenues, while the remaining 38 per cent will come from ticket sales, contributions by government bodies, lottery gains, television rights, etc.

Weather Forecast

[35] Overcast on Wednesday

[36] The Tuesday edition of Athens' dailies at a glance

ADESMEFTOS TYPOS: "Exhaustive 'point system' with the new, rigorous (traffic violation) measures by the transport ministry".

ANO KATO: "No discounts on transparency - Alogoskoufis (national economy and finance minister) called for full light to be shed on the bonds issue".

APOGEVMATINI: "Full light on the bonds issue - The government will reveal the truth and clearly inform the people".

AVGHI: "Two ministries behind the bonds - National economy and finance ministry, and employment ministry".

AVRIANI: "Warning bell for the government - The results of the MRB opinion poll worry Karamanlis, who is prepared to undertake bold political initiatives".

CHORA: "Family benefit from OAED (state-run Manpower Employment Organisation) to 360,000 families - Applications as of Monday, April 2".

ELEFTHERI ORA: "Speedy and in-depth audit decided at meeting chaired by Alogoskoufis".

ELEFTHEROS: "The stock brokerages' transactions regarding the bonds to be put through sieve - All the funds' transactions over the past five years to be put under the microscope".

ELEFTHEROS TYPOS: "History is now being rewritten - Marietta (education minister Yannakou) backs down after the plethora of reactions".

ELEFTHEROTYPIA: "The funds issue puts ND in the red - Opinion poll: The second to show decline in its lead over PASOK".

ESPRESSO: "They 'have' the suspect with the rocket - The counter-terrorism squad found the 'key' to the Revolutionary Struggle group".

ESTIA: "Euro-phobia in Greece - Systematic misleading of public opinion".

ETHNOS: "They 'swept' four suspect accounts - Generous...withdrawals at the last minute by the protagonists of the scam".

KATHIMERINI: "Rift in the dairy industry cartel - FAGE and SEBGAP complying with the Competition Commission".

LOGOS: "By order of Karamanlis, all the stock brokerages involved with the Funds to be investigated in-depth".

NIKI: "Full-time employment being undermined - 4-hour (part-time) work brought by the expanded shop hours".

RIZOSPASTIS: "Branch collective labour agreements: Together in the battle for the March 29 strike".

TA NEA: "The 5 Greeks of the secret bond - It traveled hand-to-hand in one day".

TO VIMA: "New revelation: The Funds were also 'feeding' the piranhas of the health sector - Gift to the private diagnostic centres: by virtue of Presidential Decree, the prices of medical tests tripling".

VRADYNI: "Point System: STOP to the dangerous drivers - After three violations, the licence revoked and the driver sent to take driving examination again".

Cyprus Affairs

[37] Security Council welcomes demolition of Ledra Street wall

The members of the UN Security Council welcome the Cypriot government's decision ''to remove the wall and National Guard post at Ledra Street, as a step towards opening a new crossing point,'' and urge the two communities to work with the UN to open the crossing and to implement the July 8 agreement in particular, in order to prepare the ground for negotiations leading to a comprehensive and durable settlement.

In a statement, they express hope that ''both sides will be able to agree quickly on the practicalities for pedestrian access'' and furthermore welcome ''the support provided to this initiative'' by the UN Secretary General's Special Representative in Cyprus Michael Moller and the UN Peacekeeping Force in Cyprus (UNFICYP).

''They also welcome the earlier dismantling by the Turkish Cypriots of the wall and pedestrian bridge on the north side of the buffer zone in the same area,'' the statement says.

The members of the Security Council ''share the Secretary General's hope that confidence building measures of this kind will be part of a broader move to resume full fledged negotiations aimed at a comprehensive settlement of the Cyprus problem'' and express their ''readiness to offer full support as necessary.''

They furthermore ''urge both communities to work with the UN to open Ledra Street crossing and to implement the July 8 agreement in particular through the immediate creation of bicommunal working groups and technical committees in order to prepare the ground for fully fledged negotiations leading to a comprehensive and durable settlement.''

Cyprus has been divided since 1974, when Turkey invaded and occupied its northern third.

Cypriot President Tassos Papadopoulos and Turkish Cypriot leader Mehmet Ali Talat agreed on 8 July 2006, during a meeting in Nicosia in the presence of UN official Ibrahim Gambari, to begin a process of bicommunal discussions on issues that affect the day-to-day life of the people and concurrently those that concern substantive issues, both contributing to a comprehensive settlement to the Cyprus problem.

The National Guard, the island's army, removed on March 8 the wall in Ledra Street, in Nicosia, which was erected soon after the Turkish

invasion. The government of Cyprus clarified that the demolition of the wall does not mean the opening of the crossing point to and from the Turkish occupied areas, unless security issues are addressed.

[38] Becket says legal difficulties in direct flights to Turkish occupied areas

British Foreign Secretary Margaret Beckett said on Tuesday that ''legally there are great difficulties'' in commencing direct flights to the Turkish occupied areas of Cyprus.

Speaking in Ankara during a joint press conference with Turkish Minister of Foreign Affairs Abdullah Gul, Beckett said Britain never said there would be direct flights to the occupied areas but would request legal advice on the issue.

Beckett added that the advice she received was that ''legally there are great difficulties'' in this issue.

Gul said ''we are very thankful to the United Kingdom for its support'' towards Turkey's bid to join the EU, adding that ''Turkey-UK relations are very strong, the two countries have been allies in NATO for decades and share similar views on many topics.''

He noted that they also discussed ''bilateral relations, war on international terror, Cyprus, the Palestinian-Israeli dispute, Lebanon, Afghanistan, Iran and other international issues.''

Beckett said Britain will continue to support Turkey in EU-related matters and noted that the EU process may be a long and difficult one for Turkey.

''We will be the most important supporter of Turkey,'' she said, adding that ''Turkey's EU membership will be to the benefit of both Turkey and the EU.''

Cyprus, an EU member, has been divided since 1974, when Turkey invaded and occupied its northern third.

[39] Russia says understanding alone can lead to solutions

The Russian Ministry of Foreign Affairs believes that only understanding and agreement between the involved parties could lead to the solution of long-standing international problems.

In a review of Russian foreign policy, approved by President Vladimir Putin, the ministry says that any conflicts in Kosovo, Cyprus and elsewhere should be solved ''through agreement between the sides,'' adding that ''only such a settlement could be stable.''

It adds that efforts to impose settlements from outside undermine the bases of international law and could lead to the destabilisation of the whole system of international affairs.

In its 80-page review, which is a synopsis of Russian foreign policy, prepared since last June with the participation of hundreds of diplomats, analysts and international policy research centres, the ministry notes that the UN remain an international forum, the backbone of the international system of collective security, a central element of modern multilateral diplomacy.

36, TSOCHA ST. ATHENS 115 21 GREECE * TEL: 64.00.560-63 * FAX: 64.00.581-2 INTERNET ADDRESS: http://www.ana.gr * e-mail: anabul@ana gr * GENERAL DIRECTOR: GEORGE TAMBAKOPOULOS

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