Athens News Agency: Daily News Bulletin in English, 07-04-28

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

CONTENTS

[01] PM marks Global Road Safety Week: Road safety education begins at early age

[02] Greek road safety improvements slow, EU Commission finds

[03] Anti-missile zone must cover all NATO, Bakoyannis says

[04] FYROM FM invites Greek counterpart Dora Bakoyannis to visit his country

[05] Government criticises CIA reference to 'Turkish' minority in Greece

[06] Minister on police station attacks, C4I system

[07] No question of anti-missile shield parts being deployed in Greece, foreign ministry spokesman says

[08] Bonds issue raised by government, spokesman stresses

[09] PASOK slams government for 'cover-up' on bonds issue

[10] Indian President Kalam meets development minister, former PM Constantine Mitsotakis

[11] Ruling ND fields 2.4% lead over rival PASOK in latest poll

[12] Environment minister signs incorporation of EU air quality Directive into nat'l legislation

[13] Dimas hails 'environmental liability Directive'

[14] DM invites parties to participate in dialogue on Greek armed forces' evolution

[15] KKE leader Aleka Papariga visiting Lebanon

[16] PASOK leader holds dinner for former premier Simitis

[17] Farm minister discusses cooperation with Turkish officials

[18] Credits over 37 bln euros secured for agriculture, minister says

[19] Kalam visits Athens research centre, refers to hi-tech 'revolution' taking place in India

[20] Emporiki Bank aims at an annual average increase of 30 pct in pre-tax profits

[21] Pension fund seeks legal action against securities firm

[22] Greek producer's price index up 0.7 pct in March, yr/yr

[23] Edison-led consortium to build 400MW thermoelectric power station in Thisvi

[24] 10th Panhellenic Insurance Consultants Conference

[25] OA flights cancelled due to strike on Tuesday

[26] Greek stocks dropped 1.28 pct on Friday

[27] ADEX closing report

[28] Greek bond market closing report

[29] Foreign Exchange Rates - Saturday - Monday

[30] Athens tunes in to integrated recycling

[31] European credit unit transfer system fully implemented in two years

[32] Education Minister Yannakou visits Thessaloniki

[33] 'CSE Congress 2007' held in Athens

[34] Eurobarometer measures household telecoms use in Union, candidate-states

[35] Dukakis honored by City of Athens

[36] Tragedy involving illegal migrants off Leros

[37] Bicycle enthusiasts hold rally against car traffic in Thessaloniki

[38] The Friday edition of Athens' dailies at a glance

[39] Mostly fair, windy on Saturday

[40] Cypriots have a lot to learn from Slovenia, says President Papadopoulos

[41] Cyprus could play an important role in promoting regional energy security

[42] Small states must rally together, Cyprus and San Marino say

[43] Archbishop Christodoulos' interview ahead of his visit to Cyprus Politics

[01] PM marks Global Road Safety Week: Road safety education begins at early age

"We are beginning this effort with the children, in a systematic and organised way. All the primary school children will visit the Traffic Circulation Education Parks at regular intervals, and all the pupils will have contemporary books at their disposal for such learning," he said, adding that it was necessary for the citizens, political forces and social agencies to "work together to achieve that goal of road safety, from within a new mentality of social conduct and a new perception on road safety".

Liapis, in turn, said that the prime minister's presence at the Park was in the context of the ministry's more general effort to render road safety a major issue on the political agenda, aimed at reducing accidents on the road.

He said the ministry, in a coordinated effort, was distributing printed material to primary and secondary school pupils aimed at creating a new perception on road safety education among youths by familiarising them with the traffic rules and signs "since everything begins at that age".

"Children often function better than parents, and with the assistance of the everyday citizens, the prevailing condition will change progressively and we will succed in alleviating the sad privilege of one of the top places in road accidents that Greece holds among the EU member states," Liapis said.

During the visit, Karamanlis was briefed on the operation of the road safety theme park and the response by the public by Liapis and Ilioupolis mayor Y. Anagnostou, the park's educator A. Sinis, and visiting schoolchildren, who told the premier that the road safety training course at the park was one of their favourite lessons. Karamanlis presented the children with 'diplomas' for completing the 'lesson'.

The event marks the first UN Global Road Safety Week, designated for the week of April 23-29, 2007, which is dedicated to youths aged 15-25 and aims at their early familiarisation through school learning.

The Ilioupolis Traffic Circulation Safety Park is one of 85 such road safety theme parks in operation throughout Greece, while another 50 are slated to open soon, budgeted at 20 million euros.

Road safety learning books, with pictures, have been published for pupils and educators alike.

The Parks are open all day, with schools visiting the facilities during the morning (school) hours, while parents are able to take their children individually in the afternoons. During these visits, the children learn the traffic circulation and safety rules as well as recognising the various traffic signs, and are able to put this knowledge into practice while "driving" electrically-powered mini-cars and bicycles provided by the Park.

[02] Greek road safety improvements slow, EU Commission finds

Fatal traffic accidents on Greek roads fell by 11 percent between 2001 and 2006 but this improvement was just half the 22 percent decrease seen in the 27 European Union member-states on average, according to figures released by the European Commission on Friday.

According to the report, there were roughly 38,600 road accident deaths throughout the European Union in 2006, of which 1,673 were in Greece.

The Commission report said that one in three people killed in road accidents in Greece was under 25, while the rate of road accident deaths in 2006 in Greece was 150 people per million population. This rate puts Greece in the fourth lowest ranking within the EU, above Lithuania (223 deaths per million population), Latvia (177 deaths per million population) and Estonia (152 deaths per million population). The EU average for the year 2006 was 86 road accident deaths per million population.

Excessive alcohol consumption was responsible for 9.4 percent of fatal road accidents in Greece, placing the country at the mid to lower end of the spectrum for Europe. The highest percentage of road accident deaths due to excessive alcohol consumption was in Spain (29.5 percent), France (28.8 percent) and Portugal (27.8 percent) while the lowest was in the Czech Republic (4.8 percent), Austria (5.9 percent) and Belgium (8.2 percent).

The Commission said that the target was to reduce road accident deaths in the EU by 50 percent between 2001 and 2010, while Greece was counted among the countries where the reduction was still low.

The highest reduction in road deaths so far has been in Luxembourg (49 percent), France and Portugal (42 percent) and Malta (38 percent), while the lowest was in Poland and Bulgaria (5 percent), the United Kingdom (7 percent), Slovenia (8 percent), followed by Greece and Ireland (11 percent). Road accident deaths actually increased during that period in Latvia (up 8 percent), Romania (up 7 percent) and Estonia (up 3 percent).

[03] Anti-missile zone must cover all NATO, Bakoyannis says

Greece believes that the anti-missile defence shield proposed by Washington should cover all of Europe and all NATO countries, Greek Foreign Minister Dora Bakoyannis stressed on Friday after an informal meeting of NATO foreign minister held in Oslo.

She said the issue had been "extensively discussed" at the meeting, with the controversy fuelled even further by a recent "state of the nation" speech made by Russian President Vladimir Putin, and that the climate "had not been that pleasant".

Bakoyannis additionally underlined the need for extensive dialogue with Russia in order to allay its concerns that the proposed deployment will upset geostrategic balances and was not strictly a defence measure, but one which could target Russia.

NATO foreign ministers had concluded that dialogue on the proposal advanced by Washington must continue on both a technical and political level and that the right forum for these talks was the NATO-Russia Council, she added.

Regarding relations between Russia and NATO, the Greek minister said there were still unresolved problems.

"Our view is that they should be openly discussed in order to build relations of trust," she said.

Apart from the anti-missile zone, the meeting had also covered the situation in Afghanistan, the final status of Kosovo and expansion of the Alliance, Bakoyannis said.

She reiterated Greece's position for Kosovo, which calls for the greatest possible consensus, while underlining that it would not be possible to proceed with a solution without a decision of the UN Security Council that would create a legal framework for the next steps, as well as the need for a unified European position.

The international community could also not overlook Serbia, since without stability in Serbia the area's problems would be harder to address, the minister stressed.

"We are waiting for the formation of a new Serb government and hope that we will have the opportunity for further dialogue," Bakoyannis said.

Talks on Afghanistan, which currently represents NATO's largest commitment, highlighted the need for greater efforts on an economic, political and developmental front, Bakoyannis reported.

"We must intensify our efforts to reconstruct the state [of Afghanistan]. The answer to the problems of the Afghan people is the arrival of better days," she underlined.

On NATO expansion and the prospects of the candidate-countries Croatia, Albania and the Former Yugoslav Republic of Macedonia, she stressed that Greece supported their entry on condition that they completed necessary reforms and had good neighbourly relations.

She also stressed that the three countries need not be treated as a "package" in terms of their accession progress but could instead proceed based on each country's individual performance to date.

"We ascertained that Croatia has made several steps forward, whereas Albania and FYROM still have a long road to travel," the minister said.

With regard to FYROM, in particular, Greece has repeatedly said that it will not consent to FYROM's accession to NATO under its adopted name "Republic of Macedonia". Greece objects to the name because it is also the name of a northern Greek province that shares a border with FYROM, arguing that it might open the way for future expansionist claims from the landlocked tiny republic.

Negotiations to find a mutually acceptable solution to the name issue are currently underway at the United Nations.

The dispute between the two countries also extends to FYROM's attempt to claim descent from the ancient Macedonian king and conqueror Alexander the Great and to adopt ancient Macedonian symbols, which Greece regards as historically inaccurate. According to historians, Alexander was born in the city of Pella, well within the borders of modern Greece, in a kingdom that roughly coincided with the present-day Greek province of Macedonia.

[04] FYROM FM invites Greek counterpart Dora Bakoyannis to visit his country

Former Yugoslav Republic of Macedonia (FYROM) Foreign Minister Antonio Milososki has addressed a letter to his Greek counterpart Dora Bakoyannis, inviting her to visit his country at the lakeside city of Ohrid, between May and June this year.

"It is a special honour and satisfaction for me to invite you for a working visit to Ohrid over the May-June 2007 period, where we could exchange views on bilateral cooperation issues and regional cooperation issues, as well as on the region's Euro-atlantic prospects in a relaxed atmosphere," the letter to Bakoyannios said, whose content was published in the Skopje newspaper "Devnik" on Friday.

Milososki reminds Bakoyannis in the letter that in FYROM this year, on June 28 and 29 in Ohrid, the NATO conference on security issues will be taking place, to which foreign affairs and defence ministers from 49 countries have been invited to attend.

FYROM's foreign minister said in a statement on Friday that Skopje awaits the Greek side's response to this invitation to Bakoyannis, expressing the hope that it will be "positive."

"We favour the deepening of bilateral relations and this letter was sent with a spirit of understanding and cooperation. We must strengthen bilateral cooperation. There are many issues that we can examine, particularly in the sector of the economy," Milososki said.

[05] Government criticises CIA reference to 'Turkish' minority in Greece

In his statement, made before the contents of the report had been confirmed, Koumoutsakos had said that the references in the report "do not reflect reality".

"Secondly, neither bureaucracies nor secret services can change or alter international treaties and they can definitely not change the reality that exists in our country," Koumoutsakos had added.

Greece defines its minorities in northeastern region of Thrace as religious or Muslim rather than ethnic, based on the 1923 Lausanne Treaty for the exchange of populations between Greece and Turkey at that time.

[06] Minister on police station attacks, C4I system

Polydoras made the comment during Parliament debate on a tabled question by main opposition PASOK party deputy Angelos Manolakis concerning a contract with the SAIC firm to purchase the finally ready C4I security system.

Responding to criticism over the police force's failure to arrest a "handful of masked individuals" who attacked the justice minister's political office and a police precinct in the downtown Athens district of Exarchia this past week, Polydoras said the situation in the Exarchia district -- long considered a hotbed for self-styled anarchist and anti-state youths -- has been the same for 30 years.

Regarding PASOK deputy and former public order minister Michalis Chrysohoidis' high-profile accusations a day earlier, namely, that Polydoras is to blame for the situation, the minister responded by pointing to similar incidents at the Exarchia precinct on May 2, 1999; Jan. 1, 2001 and March 25, 2002, when Chrysohoidis was minister of public.

Referring to the long-overdue and initially Olympics-related C4I security system, Polydoras said the contract was initially signed by the previous Simitis government, with a cash advance of 40 percent. Polydoras said he undertook to revise the contract terms, adding that the security system will be received within a year.

In a related development, a couple of incidents at police stations were reported during the night, as a group of unidentified individuals targeted a precinct in Thessaloniki's Sykies district. In another incident, masked assailants threw firebombs at a precinct in Athens' Zografou district at dawn.

Police reported that roughly 30 individuals left the asylum-protected grounds of the Athens University campus in Zografou and hurled a number of firebombs, before returning to the campus.

In response to the latest spate of self-styled anarchist violence, alternate government spokesman Evangelos Antonaros on Friday merely noted that "those who resort to violence are the ones who have nothing to say."

[07] No question of anti-missile shield parts being deployed in Greece, foreign ministry spokesman says

Koumoutsakos added that "secondly, it has been stressed from the beginning that in the modern-day age the handling of common threats and challenges requires joint and coordinated responses. Such responses can and must be shaped with transparency, in a framework of intensive dialogue and cooperation. The issue of anti-missile defence is no exception. It requires a joint deliberation between NATO and Russia."

[08] Bonds issue raised by government, spokesman stresses

This case was now being investigated by justice, while all cases where there was evidence of transgressive behaviour would be investigated by the proper authorities, Antonaros added.

The spokesman also underlined that all issues concerning the bonds affair had been already been answered by the appropriate ministers, including Finance Minister George Alogoskoufis.

He refused to comment, meanwhile, on planned strikes over the issue called by Greek trade unions, including the Athens journalists' union ESHEA.

Reporters' questions referred to revelations, first brought to light when the Capital Markets Commission began investing a Greek brokerage firm for suspected unethical practices, that Greek social security funds had shifted from investments in low-risk conventional government bonds to high-risk structured bonds recently issued by the Greek state. In the case of TEADY, in particular, this had been purchased at a questionably high price and a very high commission, so that the fund would end up losing money through the deal.

[09] PASOK slams government for 'cover-up' on bonds issue

"This line will cause the attrition and decay of the government, leading it to collapse," he added.

Referring to Prime Minister Costas Karamanlis, Efthymiou said that the prime minister's visit to the Traffic Circulation Education Park in Ilioupolis on Friday was an aberrant instance of activity in a premier that was generally absent and in hiding. He also noted that the park has been inaugurated by PASOK under then transport minister Christos Verelis.

He also accused the government of abolishing road safety lessons in schools.

Instead of this kind of activity, the prime minister should reply to the public over the issue of the pension funds, accept his political responsibilities and return the money to the funds before the elections, Efthymiou said.

Gov't spokesman responds to PASOK

Government spokesman Theodoros Roussopoulos responded on Friday evening to statements made earlier in the day by main opposition Panhellenic Socialist Movement (PASOK) spokesman Petros Efthymiou.

"Really, what does Mr. Efthymiou mean with his statement today? That the country's prime minister cannot visit the Traffic Training Park for young children only because this was inaugurated by the previous government? Only PASOK can have such a peculiar opinion regarding state ownership," Roussopolos said.

[10] Indian President Kalam meets development minister, former PM Constantine Mitsotakis

Sioufas said that the agreement laid the foundations for cooperation between the two countries in development, science and technology. The development minister also termed the Indian President a wise man who is also a head of state and stressed that efforts will be intensified for further cooperation in other sectors as well.

Earlier, President Kalam met with former prime minister and honourary New Democracy party president Constantine Mitsotakis and held a warm discussion with him.

[11] Ruling ND fields 2.4% lead over rival PASOK in latest poll

Additionally, 76 percent of respondents said they did not want early elections; 77.6 percent were also weary of a government reshuffle, whereas 56 percent of respondents favored scheduled elections in March 2008.

The poll was conducted by the Athens-based MRB firm on behalf of a local television station.

Gov't spokesman

"The government does not comment on opinion polls because they record momentary tendencies," alternate government spokesman Evangelos Antonaros said when queried over the results at his regular press briefing on Friday.

He added, however, that a majority supports the work of the Karamanlis government and implemented reforms.

[12] Environment minister signs incorporation of EU air quality Directive into nat'l legislation

The Decision has been forwarded to the other relevant ministries for the collection of the required signatures.

With the incorporation of Directive 2004/107 into national legislation, Greece for the first time has no outstanding obligations regarding the incorporation of EU environment directives, Souflias said, stressing that this was the first time that Greece has found itself in this "exceptional position" since its accession to the then European Economic Community.

"This significant develoapment is the result of the intensive and systematic work we have done at the ministry these past three years, which has resulted in the incorporation of a total of 27 EU directives on the environment in record time," he said.

Souflias explained that in March 2004 (when New Democracy assumed the government), Greece was in an extremely awkward position vis-a-vis the EU as EU directives which should have been incorporated into national legislation since 2002 were still pending, resulting in European Commission action against Greece.

Today, he continued, Greece has fully made up the lost ground and, with the 27 Directives incorporated into national legislation during these last three years, "we have fully modernised the legislation on all the critical environmental issues".

With the incorporation of Directive 2004/107, the process of Greece's full harmonisation with the EU policies/targets for combatting atmospheric pollution is completed, he said, adding that, henceforth, Greece will be also monitoring (measuring) the concentrations of microparticles of heavy metals (arsenic, cadmium, mercury and nickel) and the polycyclic aromatic hydrocarbons -- benzo(a)pyrene -- in the air.

Aims of the Directive

establish a target value for the concentration of arsenic, cadmium, nickel and benzo(a)pyrene in ambient air so as to avoid, prevent or reduce harmful effects of arsenic, cadmium, nickel and polycyclic aromatic hydrocarbons on human health and the environment as a whole

ensure, with respect to arsenic, cadmium, nickel and polycyclic aromatic hydrocarbons, that ambient air quality is maintained where it is good and that it is improved in other cases

determine common methods and criteria for the assessment of concentrations of arsenic, cadmium, mercury, nickel and polycyclic aromatic hydrocarbons in ambient air as well as of the deposition of arsenic, cadmium, mercury, nickel and polycyclic aromatic hydrocarbons

ensure that adequate information on concentrations of arsenic, cadmium, mercury, nickel and polycyclic aromatic hydrocarbons in ambient air as well as on the deposition of arsenic, cadmium, mercury, nickel and polycyclic aromatic hydrocarbons is obtained and ensure that it is made available to the public.

Under the directive, the target concentrations must be achieved by December 31, 2012.

[13] Dimas hails 'environmental liability Directive'

EU Commissioner Stavros Dimas on Friday welcomed a same-day decision by the European Commission to issue a new directive instituting the "polluter pays principle".

The Directive envisions, according to a Commission press release, that "future environmental damage in the EU is prevented or remedied, and that those who cause it are held responsible."

Member-states are required to transpose the directive into their national law by April 30, 2007, with only Italy, Latvia and Lithuania having already made the deadline.

In a statement, EU Environment Commissioner Stavros Dimas said: "The idea that the polluter must pay is a cornerstone of EU policy and with this legislation we are putting it into practice. The environmental liability directive will provide a strong incentive to prevent damage from happening at all, and enables governments to seek redress from the culprit when serious damage does occur. I am very concerned that only three member-states have transposed this vital legislation so far. If the others do not follow suit very soon the Commission will have to consider starting legal action."

[14] DM invites parties to participate in dialogue on Greek armed forces' evolution

Meimarakis also underlined the importance of the armed forces' evolution for their adjustment to new developments, their more effective response to the new requirements of the times and the improvement of the quality of life of the military's members.

Referring to the members' payroll, Meimarakis mentioned that it will be completed over a short period of time and reiterated his known proposal for peace mission expenditures not to be included in the deficit.

[15] KKE leader Aleka Papariga visiting Lebanon

According to a KKE press release, Papariga said in a statement that "we consider it a fact of international importance that the Israeli military, during the invasion in the summer, did not succeed in defeating and curbing the resistance of the Lebanese people, in an attack that took place with the blessings of the United States in the framework of the promotion of their plans for the region. And we consider it very important because from here, from this small geographical region of Lebanon, a great message was sent. The message that the peoples can defeat the powerful of the world."

She went on to say that "we are continuing our struggle against the plans of the United States for the region for the so-called 'democratisation of the Middle East', which the European Union has also joined. It is a strategy aimed at the exploitation of the wealth existing in the region, a strategy of war, a strategy of interventions and of the logic of 'divide and rule'."

Lastly, Papariga pointed out that "we believe in the right of every people, and of the Lebanese people, to determine developments in their country. Even more so that these people want their independence from every form of imperialist intervention."

[16] PASOK leader holds dinner for former premier Simitis

Commenting on the meeting, PASOK spokesman Petros Efthymiou said it was "natural" that there should be meetings between the two top members of the PASOK party. He said the meeting was requested by Papandreou and had focused on European affairs.

Pointing out that European policies were key elements in the progress of both Greece and Europe, the spokesman underlined the need to strengthen the social state in Greece and the EU.

According to Papandreou's associates, Papandreou and Simitis ascertained that Greece was essentially absent from developments at a crucial time for Europe, caught up in a vortex of self-absorption for which the government was chiefly responsible. They also agreed that PASOK was on the right path and that its programme was moving in the right direction.

Financial News

[17] Farm minister discusses cooperation with Turkish officials

Greece's agricultural development minister Evangelos Bassiakos and ministry secretary general Christos Avgoulas discussed issues farm product trade issues and matters of general interest in the agricultural centre, during talks in Istanbul on Friday.

The Greek officials met with the president of the Istanbul Chamber of Commerce and Industry (ICCI) Murat Yalcintas and ΤέλοςφόρμαςΑρχήφόρμαςForeign Economic Relations Board of Turkey (DEIK) chairman Selim Egeli, with whom they exchanged views, focusing on the projection and promotion of quality Greek farm products on the Turkish market.

In that context, they discussed initiatives for the two countries' participation in international trade fairs Istanbul and Athens.

Also discussed were olive tree cultivation, olive oil and olive trade and processing, biotechnology and organic farming, rapid mutual briefing on plant diseases, and cooperation between the two countries' research foundations.

In statements to ANA-MPA afterwards, Bassiakos said he was pleased by his discussions in Istanbul, and also by the prospects opening up from such a cooperation between the two countries.

Egeli told ANA-MPA that he and Bassiakos reached an important decision during their discussion, that another meeting would be set up, with the participation of private enterprises from both countries.

The new meeting was tentatively slated for June in Athens, in the context of a meeting of the Mixed Greek-Turkish Committee, in which the private business sector would take part in addition to the customary state organisations.

Earlier, Bassiakos was received by Ecumenical Patriarch Vartholomeos, whom he presented with a special medal in recognition of his contribution to the Ecumenical Patriarchate.

Vartholomeos also accepted an official invitation to the prefecture of Viotia extended to him by Metropolitans Ieronymos of Thiva and Livadia and Vassilios of Elassona, Viotia MP Michail Yannakis, and Viotia Prefect Klearchos Pergantas, as well as other local mayors and officials, who visited the Ecumenical Patriarchate gogether with Bassiakos.

Bassiakos paid tribute to Vartholomeos' ecological sensitivity and the Ecumenical Patriarchate's international activity on ecology issues.

The Ecumenical Patriarch hosted a lunch in honour of the minister.

[18] Credits over 37 bln euros secured for agriculture, minister says

He was speaking at an event held in Kilkis, central Macedonia, organised by the Agricultural Development and Foods Ministry and had as its objective the presentation of a study on "alternative cultivations and the restructuring of stock-breeding."

Tsitouridis stressed that "through the government's policy in the agricultural sector we managed to keep the people in the regions."

On his part, Deputy Agricultural Development and Foods Minister Alexandros Kontos referred to "the other agriculture," explaining that "we must see agriculture as regional growth."

[19] Kalam visits Athens research centre, refers to hi-tech 'revolution' taking place in India

In welcoming the Indian president, Development Minister Dimitris Sioufas stated that India is already actively involved in space research and satellite technology.

On his part, Sioufas said areas of mutual interest include computer science, telecommunications, biotechnology, renewable energy sources, chemical engineering, space research and technology.

Kalam referred to cutting-edge research and technology efforts in his country and suggested a number of fields of cooperation with Greek interests, such as IT technology, nanotechnology and energy.

[20] Emporiki Bank aims at an annual average increase of 30 pct in pre-tax profits

Presenting the bank's business plan for the period 2007-2011, Pauget said the plan envisaged the opening of 265 new branches in Southeastern Europe and raising its workforce by 2,250 in the next five years by investing around 55 million euros.

Emporiki Bank's main financial predictions for 2011 include: a more than 11 percent annual increase in net revenues of banking operations to more than 1.7 billion euros (from 988 million in 2006), an average return on capital of 22 percent (from 6.0 pct in 2006), an annual increase of 30 percent in pre-tax profits to 600 million euros, a cost/revenues ratio of below 50 percent, a market share of around 10.5 pct and capital spending of around 250-300 million euros in the five-year period.

The French banker said 2006 was a year that was sealed by significant strategic moves in Europe, including the acquisition of Emporiki Bank, the only player in the Greek market that fulfiled the criteria for the Group's expansion strategy.

[21] Pension fund seeks legal action against securities firm

TEADY said the fund suffered a total loss of around eight million euros from the transaction with the securities firm and said it reserves the right to seek legal action against Acropolis Securities for other transactions that could have damaged the fund.

The transaction has set off a firestorm of political debate and controversy in the country, focusing on the management of numerous pension funds' reserves and investments.

[22] Greek producer's price index up 0.7 pct in March, yr/yr

The statistics service said the index was up 7.8 pct and 4.7 pct in the same months in 2006 and 2005, respectively, while it was up 1.0 pct in March from February 2007.

The 0.7 pct annual increase of the index reflected to an 1.1 pct increase in the domestic price index and a 0.5 pct rise in the external price index. The statistics service said the intermediate goods price index was up 5.9 pct in March, from the same month last year, the capital goods index rose 4.3 pct, the durable goods index was up 3.0 pct and the energy goods index fell 2.0 pct.

[23] Edison-led consortium to build 400MW thermoelectric power station in Thisvi

A consortium statement said Greece's energy regulatory authority has already approved the installation license and noted that a decision on the investment was expected to be taken in the next few days by the boards of the companies in the consortium.

Edison and Hellenic Technodomiki said they believed in the dynamism of the Greek energy market, which was growing at a pace faster than the EU average and noted they would seek to establish a steady and significant presence in the country.

Edison has begun activities in Greece in 2001 through its subsidiary Edison Hellas SA.

[24] 10th Panhellenic Insurance Consultants Conference

This was announced by Deputy Development Minister Yiannis Papathanasiou, who was speaking on Friday at the 10th Panhellenic Insurance Consultants Conference.

The deputy minister reiterated that "regardless of whether control and supervision responsibility passes from the development ministry to the Private Insurance Committee, the government's political desire is unified and fixed:absolute transparency, solvency and respect for the rights of the insured."

Papathanasiou also referred to institutional initiatives undertaken by the ministry and mentioned that public deliberation is being completed and the law on speeding up insurance clearance will be produced in Parliament for ratification.

[25] OA flights cancelled due to strike on Tuesday

In a statement, OA's administration expresses its regrets over any inconvenience to passengers while stressing that the company is not responsible for the action.

Passengers booked on OA flights on Tuesday should contact the carrier, 210.9666666, or visit the website http://www.olympicairlines.com/

[26] Greek stocks dropped 1.28 pct on Friday

All sectors ended lower with the exception of the Healthcare index which ended 1.69 pct higher. The Banks (1.86 pct), Travel (1.63 pct) and Insurance (1.56 pct) sectors suffered the heaviest percentage losses of the day.

The Big Cap index fell 1.57 pct, the Mid Cap index eased 0.66 pct and the Small Cap index fell 0.13 pct.

Ideal (19.35 pct), Galis (11.84 pct) and Parnassos (11.11 pct) were top gainers, while ANEK (9.36 pct), Dias (7.43 pct) and Perseus (6.25 pct) were top losers.

Broadly, decliners led advancers by 172 to 87 with another 45 issues unchanged.

Sector indices ended as follows:

Insurance: -1.56%

Industrials: -0.61%

Commercial: -1.01%

Construction: -1.55%

Media: -1.25%

Oil & Gas: -0.73%

Personal & Household: -1.17%

Raw Materials: -0.59%

Travel & Leisure: -1.63%

Technology: -0.25%

Telecoms: -0.57%

Banks: -1.86%

Food & Beverages: -0.60%

Health: +1.69%

Utilities: -0.19%

Chemicals: -0.82%

Financial Services: -0.99%

The stocks with the highest turnover were Alpha Bank, Forthnet, National Bank and Marfin Popular Bank.

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

Alpha Bank: 23.00

ATEbank: 3.94

Public Power Corp (PPC): 18.94

HBC Coca Cola: 32.00

Hellenic Petroleum: 11.32

Emporiki Bank: 21.66

National Bank of Greece: 42.50

EFG Eurobank Ergasias: 30.80

Intralot: 23.20

Cosmote: 23.36

OPAP: 28.56

OTE: 21.78

Titan Cement Company: 41.82

[27] ADEX closing report

The June contract on the FTSE 20 index was traded at a discount of 1.71 pct and the April contract on the FTSE 40 index at a discount of 1.79 pct.

Volume in futures contracts on the FTSE 20 index totaled 6,726 contracts worth 85.112 million euros, with 32,483 open positions in the market, while on the FTSE 40 index volume was 1,299 contracts worth 38.755 million euros with 1,714 open positions.

Volume in futures contracts on equities totaled 6,344 contracts worth 3.433 million euros, with investment interest focusing on ATEbank's contracts (1,546), followed by PPC (260), National Bank (790), Alpha Bank (1,186), GEK (246), Mytilineos (166) and Intralot (168).

Volume in stock repos was 3,250 contracts and in reverse stock repos 11,413 contracts.

[28] Greek bond market closing report

The 10-year benchmark bond (July 20, 2017) was the most heavily traded security with a turnover of 750 million euros. The yield spread between the 10-year Greek and German bonds was stable at 0.23 percent, with the Greek bond yielding 4.46 pct and the German Bund 4.22 pct.

In the domestic interbank market, interest rates were mixed. National Bank's overnight rate eased to 3.83 pct from 3.84 pct on Thursday, the two-day rate rose to 3.87 pct from 3.84 pct, the one-month rate rose to 3.86 pct from 3.85 pct and the 12-month rate rose to 4.29 pct from 4.28 pct.

[29] Foreign Exchange Rates - Saturday - Monday

U.S. dollar 1.375

Pound sterling 0.687

Danish kroner 7.509

Swedish kroner 9.216

Japanese yen 164.06

Swiss franc 1.656

Norwegian kroner 8.203

Cyprus pound 0.586

Canadian dollar 1.535

Australian dollar 1.655

General News

[30] Athens tunes in to integrated recycling

Within the framework of efforts to promote the potential for recycling within the City of Athens, and so that citizens can further familiarize themselves with and actively participate in the city's recycling programme, the City of Athens, Texan Environmental Management and Love Radio 97.5 are organising an event on Saturday that includes competitions and a mini-concert, under the aegis of Athens Mayor Nikitas Kaklamanis.

During the event, Kaklamanis will proclaim popular singer/composer Michalis Hatziyiannis a "Recycling Advocate", as part of the Integrated Reciprocal Recycling System.

The event, to take place at the Reciprocal Recycling Centre on the corner of Kifissias and Alexandras Avenuesin central Athens from noon to 2:00 p.m., will feature a musical performance.

Also, visitors will have the opportunity to participate in a recycling competition and win various prizes.

[31] European credit unit transfer system fully implemented in two years

European Union Education, Training and Culture Commissioner Jan Figel, concluding the work of the two-day European Conference for the European vocational education and training sector held in the city of Thessaloniki, announced on Friday that "the unified credit unit transfer system is very important for citizens wishing to use their qualifications to find work in one of the participating countries."

Education Minister Marietta Yiannakou said that the Greek government supports the policies of the EU that strengthen education and training, mentioning that 4,700 europasses have already been issued which facilitate Vocational Training Institute graduates to travel to EU countries.

[32] Education Minister Yannakou visits Thessaloniki

Computer labs for elementary schoolchildren was among the main goals of the ministry of education, and the computer training of 85,000 school teachers will be a major move in this direction, while an additional 35,000 teaching personnel are currently being trained in teaching techniques through computers.

On the issue of school trips, Yannakou stated that they are part of the education process adding, however, that the presence of active parents' associations will help to deal with the problems that arise in schools.

The minister inaugurated a high school building in Thermi, Thessaloniki on Friday and pledged that a special Workshop of Vocational Education and Training for the disabled will be built soon in the region.

Yannakou stressed that the current government has built three times more schools compared to the previous five-year period stating specifically that a total of 200 million euros were allocated for the construction of 2,500 school classrooms.

[33] 'CSE Congress 2007' held in Athens

The magazine Eco-Q was the organiser of "CSE Congress 2007" which had as its theme "The invitation of quality in society's challenges" and was held under the auspices of the Development Ministry and the Health and Social Solidarity Ministry.

Speakers from companies, non-governmental organisations and educational foundations addressed the congress.

The start of the sessions was addressed by Industry Secretary General of the Development Ministry, Spyros Papadopoulos, while the congress' president and managing director of CSE, Nikos Avlonas, spoke regarding the strategy and the international standards on EKE, as these are shaped in the modern business environment.

As stressed by Avlonas, EKE "must constitute a clear business tool for every company which aims at improving its social, environmental and economic performance."

The CSE specialises in the implementation of practical programmes and solutions for sustainable growth in businesses. The CSE's target is the globalisation of sustainable growth and Partner Social Responsibility, aimed at a better and more balanced planet.

[34] Eurobarometer measures household telecoms use in Union, candidate-states

A Eurobarometer report unveiled here on Friday gauges the use of various telecommunications modes as well as PC and Internet use in the Union and candidate-countries.

Among others, the highest proportions of internet phone calls are found in Lithuania, Latvia and Bulgaria, where in more than half of the households with internet access someone uses this service. Conversely, the shares remain below 10 percent in Greece and Ireland as well as in candidate country Croatia.

Wi-fi technology appears to be most widespread in Luxembourg, Spain and France where more than half of the households with internet access have a Wi-fi router. Conversely, less than 20 percent of households in Latvia, Greece, Lithuania, Slovenia and Poland benefit from this technology.

Some 42 percent of households within the EU27 have internet access at home. In eight countries, more than half of the households have internet access. The penetration rate remains the highest in the Netherlands, Denmark and Sweden, as was the case one year previously. Conversely, less than 20 percent of households in Greece, Slovakia, Bulgaria, Romania and candidate country Turkey have internet access.

Twenty-eight percent of European households benefit from a broadband connection. This is particularly the case in the Netherlands (65 percent) and Denmark (60 percent). On the other hand, very few households in Greece, Cyprus, Slovakia, Romania and candidate-country Turkey have broadband access.

For the full report, visit the site HYPERLINK "http://ec.europa.eu/public_opinion/archives/ebs/ebs_274_en.pdf" http://ec.europa.eu/public_opinion/archives/ebs/ebs_274_en.pdf

[35] Dukakis honored by City of Athens

Dukakis and his wife Kitty arrived in Greece last week for a series of events in both Athens and Thessaloniki.

[36] Tragedy involving illegal migrants off Leros

The incident took place off the southeastern Aegean island of Leros, near Farmakonisi islet, on Friday morning.

Coastguard vessels were called to the scene by a military patrol that found the body of the 15-year-old and picked up 7 men and 2 women of Kurdish origin.

The rescued migrants reported the violent disembarkation and an investigation is underway to locate the two missing persons. The nine rescued migrants are safe and well in health and were taken to the Leros Health Clinic for precautionary reasons.

[37] Bicycle enthusiasts hold rally against car traffic in Thessaloniki

Cyclists, who regard bicycles as a way of life, responded to an invitation by the "Podiladistas" initiative and having assembled at Kamara, rallied with their bicycles through the city's main roads.

[38] The Friday edition of Athens' dailies at a glance

ADESMEFTOS TYPOS: "The seamen's pensions safeguarded - Merchant marine ministry bill".

APOGEVMATINI: "Uprising against the state - Hooded troublemakers throw fire-bombs at Exarcheia (downtown Athens district) police station".

AVGHI: "Government preparing new bonds - Seeking ways of exiting the scandal".

AVRIANI: "Pangalos (preceding PASOK governments' former minister and current MP) Pangalos charges Simitis' (preceding prime minister) crimes in burning interview - He's the one who destroyed PASOK (now the main opposition party) and the country".

CHORA: "The hooded troublemakers remain at large, strike out at MAT (riot police) and police stations - Surprise attacks in daylight".

ELEFTHERI ORA: "Chaos in the ruling party (New Democracy) from the prime minister's contradictory statements and recommendations".

ELEFTHEROS: "Thunder and lightning from Pangalos".

ELEFTHEROS TYPOS: "The crisis from the bonds easing - Alogoskoufis (national economy and finance minister) guarantees on safeguarding the funds".

ELEFTHEROTYPIA: "Bonds, prison unrest, Molotov violence (firebomb attacks on police stations) plaguing Karamanlis".

ESTIA: "Disengagement from Turkey - EU seeks way out".

ETHNOS: "Farce/comedy in parliament, with the social insurance recipients as the sponsors".

KATHIMERINI: "Public order deficit - Groups of hooded troublemakers hit police station in Exarchia (downtown Athens)".

LOGOS: "Athens an El Dorado - The hooded troublemakers escalate their action".

NIKI: "From lie to toying - Alogoskoufis proposes that the taxpayers pay the price".

RIZOSPASTIS: "Rallies, demonstrations in more than 60 cities throughout the country - May Day 2007".

TA NEA: "Hand-in-hand with Savvas (employment minister Tsitouridis) to elections - Karamanlis bowed to Tsitouridis' coercion".

TO VIMA: "The replies confirm the bonds scandal - Economy ministry at a loss".

Weather Forecast

[39] Mostly fair, windy on Saturday

Cyprus Affairs

[40] Cypriots have a lot to learn from Slovenia, says President Papadopoulos

Cypriot President Tassos Papadopoulos described his visit to Slovenia as ''very useful'', noting that "we have a lot to learn from Slovenia, especially as far as introducing the euro is concerned".

He was speaking Friday at the end of his three day official visit to Slovenia which he described as perhaps Cyprus' main competitor in the field of complying with the acquis communautaire and economic development.

Making an assessment of his visit to the country, the president said that Slovenia was the first country (of the ten new EU member states) to introduce the euro with success while other countries had problems.

He said that together with the Slovenian leadership, they agreed to exchange experiences and expressed the conviction that "this is the time to further enhance our already good and developed relations with Slovenia".

President Papadopoulos said that he discussed with President Janez Drnovsek and Prime Minister France Cukjati exchanging visits by techocrats and Cypriot officials to visit Slovenia since the latter country's experiences as far as adopting the euro are closer to Cyprus' conditions.

He said that "when Slovenia introduced the Euro, it had a strong currency and instead of reporting an increase in prices there was decrease by one percent".

The Cypriot president said the Slovenian officials explained to him the preparatory measures they took "and I fully agree with them that a more direct and active involvement on the part of the consumer and citizen is necessary".

Explaining this, the president said that the people must develop the habit of reporting profiteering and any phenomena of increased prices and this is exactly what Slovenia achieved.

Asked if Slovenia, which will undertake the EU presidency the first term of 2008 is willing to take any initiative towards the Cyprus issue, the president explained that he could not predict if there would be a change in climate as far as efforts to solve the Cyprus issue in the first six months of 2008.

President Papadopoulos and his entourage, which included Commerce, Industry and Tourism Minister Antonis Michaelides, visited the towns of Piran and Lipica while on Friday night he was to attend a dinner given in his honour by Foreign Minister Prof. Dimitrij Rupel.

President Papadopoulos returns to Cyprus Saturday afternoon via Austria.

[41] Cyprus could play an important role in promoting regional energy security

Senator Joseph Biden in a submitted congressional record says that developed responsibly, oil and gas deposits under Cyprus' southern continental shelf could provide an alternative source of hydrocarbons at a time when many European countries are struggling to diversify their energy supplies.

''The island of Cyprus is now emerging as a potential source of energy'' he notes adding ''if this ambition is realized, Cyprus could play an important role in promoting regional energy security''.

Senator Biden refers that the Government of the Republic of Cyprus, is working to establish partnerships with foreign companies and countries in an effort to bring these energy resources online.

This process, he adds, is being needlessly complicated, however, by individuals in Turkey and the Turkish Cypriot community who are discouraging foreign partners from working with the Republic of Cyprus.

''In view of this behavior, I believe it is important to affirm the Republic of Cyprus' right to search for and develop resources located under Cyprus' continental shelf''.

Senator Biden states that ''under international law, there is no question about the legality of the Cypriot Government's activities''.

''The legal principles at issue are codified in the United Nations Convention on the Law of the Sea, to which Cyprus is a party. The ROC has entered into agreements delineating its Exclusive Economic Zone, EEZ, with Egypt and Lebanon and the areas under consideration for development are well within these boundaries. There is simply no juridical basis to dispute Cyprus' claims or actions'', he underlines.

He expresses hope that both Ankara and leaders of the Turkish Cypriot community will cease their efforts to obstruct the exploration of Cypriot waters. ''Strong-arm diplomacy aimed at scaring away potential Cypriot business partners will only delay the peaceful reunification of Cyprus--and with it the day when all Cypriots can benefit from the island's energy resources'', he adds.

"I want to reiterate," he continues, "my longstanding call for both Cypriot communities to push forward with the technical talks and negotiations that I believe can reunify the island. However, in doing so, I want to caution that attempts to interfere in Cyprus' legitimate energy exploration activities will only complicate negotiations to end the estrangement of the island's peoples'', he adds.

''The country of Cyprus has long been a key partner for the United States, and our friendship rests on the bedrock of shared democratic values. In a global energy market dominated by authoritarian regimes, I believe it is important for Cyprus to push forward with plans to survey its energy assets. I sincerely hope that other parties will respect Cyprus' right to pursue this undertaking'', he concludes.

[42] Small states must rally together, Cyprus and San Marino say

Cyprus and San Marino, as small states, believe that small states have to work together to make their voice heard in world affairs, and be on an equal par with larger nations.

Acting President of the Republic and House President Demetris Christofias and San Marino Foreign Minister Fiorenzo Stolfi, currently visiting Cyprus, met here Friday in what they described as a "very profitable, meaningful and friendly encounter" as Cyprus and San Marino had signed earlier the same day an agreement on the avoidance of double taxation.

"Politically speaking, this meeting was particularly meaningful as we discussed the role small states can play internationally," Stolfi said after the meeting, and noted the rotating presidency of the Committee of Ministers of the Council of Europe he holds this period.

He said the vote of small states is just as important and valid as that of larger states and referred to common values such as liberty and democracy small states share.

"International organizations will have to take more into consideration the opinions and the voice of smaller states and we have to take into more serious consideration those situations of conflict or injustice that are still present in the world," he added.

This unjust situation also includes the situation in Cyprus, a situation of division, he said.

"I want to express the best wish to Cyprus to find again its peace, reunification and most important to allow its people to look to the future with greater confidence," he stressed and expressed solidarity and support to Cyprus on a bilateral and multilateral level.

Acting President pointed out that small states must coordinate their moves and show solidarity to each other.

"I would say there is complete identity of views and full dedication to common values of independence and territorial integrity of states as well as the peaceful resolution of problems," Christofias said.

He thanked San Marino for its firm support in the effort of the people of Cyprus for peaceful reunification of their country, divided since Turkish troops invaded in 1974.

He congratulated the minister on his country's presidency of the Committee of Ministers, pointing out that small states can serve such bodies just as well if not more effectively than larger states.

[43] Archbishop Christodoulos' interview ahead of his visit to Cyprus

Archbishop Christodoulos of Athens and All Greece Christodoulos praised the excellent relations the Church of Greece maintains with the Church of Cyprus, saying that cooperation with the head of the Autocephalous Church of Cyprus Archbishop Chrysostomos II has assumed a more poignant dimension after Cyprus joined the European Union, in an interview with the Cyprus News Agency (CNA).

In an interview with CNA ahead of his week-long visit to Cyprus, which begins on Sunday, Christodoulos stressed that the solution of the island's political problem, which is the result of the continuing Turkish occupation, can only emerge from the implementation of the EU acquis communautaire, the respect of UN resolutions and other decisions that condemn the illegal Turkish occupation of the northern party of Cyprus.

On the UN-proposed solution plan for Cyprus, rejected by the Greek Cypriot community and approved by the Turkish Cypriots in simultaneous referenda in 2004, he said the Church of Greece was among the first bodies that denounced that specific plan, adding that the Church in Greece will continue to support the Church of Cyprus.

The destruction and the pillage of churches and cemeteries in the Turkish-occupied part of Cyprus is an ongoing crime against human rights and religious freedom of European citizens, the Archbishop of Greece told CNA, pointing out that the solution in Cyprus must be fair, peaceful and lasting.

Some 300 churches, hundreds of cemeteries and other holy sites have been pillaged by the Turkish occupation army in occupied Cyprus, and were characterized by the Archbishop as a crime against the common European cultural heritage that has to be tackled by Europe.

The Church of Cyprus raises this issue at the World Council of Churches, seeking protection or return of its religious artifacts and in this effort we always give our support as we believe this is a matter of respect of religious freedom, he said.

The political solution in Cyprus, he added, must emerge from the implementation of EU rules and regulations and the observation of UN and other international organizations' resolutions condemning the illegal invasion and occupation of northern Cyprus.

Regarding his visit to Cyprus, from 29 April to 6 May, Christodoulos said that it aims to further strengthen the excellent cooperation over the years the two Churches have enjoyed through Christ.

Our bonds with the Church of Cyprus and its people are indissoluble as they are built on the sound foundations of our common Orthodox faith and our Greek identity, he said, adding that he was deeply moved by the visit.

On the relations between the two Churches, Archbishop Christodoulos said that they are excellent and reiterated that the Greek Church respects fully the Autocephalous Church of Cyprus, and shows solidarity in every possible way in the just struggle for justice and freedom in Cyprus.

Since Cyprus joined the EU, cooperation between the two Churches has assumed an even more important dimension as the voice of Hellenism and Orthodoxy is multiplied in the heart of Europe, he said.

Asked if EU accession would help towards finding a solution in Cyprus, the Primate of the Church of Greece said that it has created the preconditions for a solution and pointed out that the implementation of the acquis communautaire is in itself a valuable guide indeed.

On Turkey's bid to join the EU, he said that Ankara, like any other aspiring member, must meet the Union's criteria, and respect the EU law and European principles that emanate from Christian teachings.

He said that it was up to Turkey to comply with EU norms, if it wants to join the European family, noting that vicious crimes against Christians in Turkey show that the country has a long and laborious way to go before it comes close to EU values.

On the UN plan (the Annan plan), he said that it was rejected by the people of Cyprus who were seeking their country's reunification, adding that any further comment is superfluous.

"What I would like to repeat is that we shall stand by the Church of Cyprus any time it asks for assistance, as we have always done", he remarked.

Responding to other questions, Christodoulos said that both Churches are very active in humanitarian and charitable work because, as he pointed out, the focus of interest of the Church is the people, regardless of race, religion or colour.

On the relations with the Vatican, he said that following a visit to Athens in 2001 by the late Pope John Paul II, relations are now on a different basis, after the Pope apologized for what the Roman Catholic Church had done to Orthodox Christians.

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