[02] PASOK criticises gov't over strategic energy plan

Sioufas turned over to the premier the first part of the report on Greece's strategic energy plan for the period 2008-2020, before submitting the report also to Paliament Pesident Anna Psarouda-Benaki.

PASOK's head of the development, tourism nad maritime policy section, Christos Papoutsis,said in a statement that the government "today, after three-and-a-half years (after coming to power) and while the New Democracy (ND) party government is rapidly preparing to abandon power and call for early elections, the development minister tables the report on the country's long-term planning. Furthermore, he calls for consultations for the month of December, when the ND will not be in power."

"This is just mocking Parliament, the entrepreneurial community and citizens," Papoutsis also said, adding that this "also constitutes an avowal that the ND was governing for three-and-a-half years without a long term energy planning."

[03] Papandreou again calls for immediate elections

Afterwards, and in comments to waiting reporters, Papandreou noted that "Greece was in the midst of a tragic impasse with the (current) New Democracy government."

He added, furthermore, that citizens' response to this situation is to say "enough"; "there is a choice of hope, dignity and certainty, which is none other than PASOK's programme for a just society with a redistribution of wealth."

Papandreou also said this week's announcement by the government of a new social cohesion fund for lower-income households shows the "government's panic". He also again said that "elections are the only solution, as the sooner they take place the better."

The committee was formed after a decision by Papandreou and is made up of party secretary Nikos Athanassakis and top PASOK cadres Evangelos Venizelos, Anna Diamantopoulou, Petros Efthymiou, Costas Laliotis, Christos Polyzogopoulos, Dimitris Reppas and Thanassis Tsouras. All of the committee members held top ministerial posts in previous PASOK governments, sans Polyzogopoulos, who served as president of Greece's largest union.

The election committee's meetings will also be attended by PASOK's new general director Rovertos Spyropoulos and the director of Papandreou's political office Pavlos Geroulanos.

The development comes arid a continuing cascade of press speculation claiming that early elections will be called by the premier in late September or early October. Elections in Greece are normally scheduled for March 2008.

Governmet responds

Minister of State and Government Spokesman Theodoros Roussopoulos, responding Thursday to earlier statements by main opposition PASOK leader George Papandreou who again called for immediate general elections, said that the PASOK leader's declarations were "nothing but an anthology of wooden slogans".

"It is yet another proof that PASOK neither can nor wants to escape from its past of 'hard rock' and irresponsible populism," Roussopoulos added.

[04] President to attend Feast of the Assumption events

The government will be represented by Macedonia-Thrace Minister George Kalantzis, while also present will be main opposition Panhellenic Socialist Movement (PASOK) leader George Papandreou, ruling New Democracy (ND) party Central Committee Secretary Lefteris Zagoritis, deputies and local government representatives.

[05] New French envoy visits Ch.Trikoupis bridge

Thierry Puy, Gefyra S.A. managing director, welcomed the French envoy who was briefed on technical details and function methods of the bridge, which was built by a Greek-French consortium led by the French Vinci group and inaugurated in mid 2004.

"I have particularly been impressed by the high quality of this project which unifies aesthetics with technological achievements and utility for users," Farnaud said, adding that the cable-stayed bridge "is a special symbol of the excellent cooperation that can be developed by Greeks and French in any sector they wish."

Financial News

[06] Social insurance funds' deficits discussed

"The economic burden undertaken by the funds has to be reduced through the implementation of reforms in the healthcare services, allowing funds to provide better quality services to the beneficiaries," he stressed.

Several state-run social insurance funds have also posted a a deficit, particularly in the healthcare sector, Magginas said, adding that this problem has to be tackled.

Opposition parties comment

Health Department head of the Parliamentary Council of the main opposition Panhellenic Socialist Movement (PASOK), Christos Protopapas, on Thursday commented on the meeting held earlier in the day by the Employment and Social Protection Ministry regarding the pharmaceutical and hospital social insurance funds.

"The relevant officials of the Health and Employment ministries, and particularly the deputy health minister, tried today to convince us that 'all is well' in the social insurance funds of the health sector. That is, they told us that 'if reality does not agree with us, so much the worse for it'," Protopapas said.

On its part, the Communist Party of Greece (KKE) in an announcement said that "the government, under the pretext of balancing the expenditures, is attempting to cut back the granting of pharmaceuticals and services so as to further increase the already great participation of the socially insured in the medicine market."

On his part, Dimitris Stratoulis, member of the Political Secretariat and head of the Labour Policy Department of the Coalition of the Left, Movements and Ecology (Synaspismos), said that "the insured in our country, despite the pre-election theatre which the New Democracy government is playing, cannot forget that they 'enjoy' the lowest level of services from the sectors of Health and of Social Insurance Funds in the whole of Europe, despite the fact that they pay the highest social insurance contributions."

[07] Natgas supply from Bulgaria restored

According to a press release, both gas flow and relevant pipeline pressure were within prescribed limits at the Sidirokastro monitoring station in northern Greece.

Natural gas supplies in the east Mediterranean country during the three-day suspension in supply from Bulgaria were replaced by the liquefied natural gas terminal at Revythoussa, an islet in the Saronic Gulf between the greater Athens area and the island of Salamina.

[08] Tax violations in four out of 10 firms, ministry says

Based on released figures, a total of 14,308 companies committed alleged tax violations out of 36,728 firms checked in July.

Most violations were recorded in vehicle sales and by repair shops, wholesale and retail car and motorcycle dealerships, hotels and restaurants, in the food & beverage industry, private tutorial schools, as well as for healthcare services.

[09] Contract between gov't and ELOT signed

"The objectif of our policy was, from the very start, to make clear that every project should be materialised in accordance to its planning, with consistency, responsibility, transparenecy, correctness and giving account for it," Folias said after the signing of the contract.

According to the deal, a model will be developed on which contractors of projects falling in the 2007-2013 planning period would be certified.

[10] Proton Bank marks increased profits in 1st half of 2007

Net profit before tax reached 24,368 thousand euros, compared to 22,816 thousand euros in the first half of 2006.

Net profit after tax totaled 21,095 thousand euros comnpared to 19,578 thousand years in the corresponding period last year.

[11] Attica SA Holdings reports 36.9%-increase in profits

In the same period, consolidated sales increased to 144.8 million euros from 133.1 million in 2006, marking an increase of 8.8 percent, while pre-tax profits increased to 30.1 million euros from 22 million in 2006.

[12] Cap Market Commission levels fines in Themeliodomi shares trading

The fines, approved by the Capital Markets Commission's board of directors, were slapped on several of Themeliodomi's board members, family members of the latter, company employees and associates. Themeliodomi is a bourse-listed construction firm.

A 50,000-euro fine was also levelled on the brokerage firm Borioelladiki, which handled the bulk of trading of Themeliodomi shares during the period in question.

[13] Increase of tourists in Athens, Attica hotels

June proved to be particularly positive for 4* hotels given that average capacity increased by 7.9%. For the remaining categories the results were also positive in June. There was an increase of 6% in 5* hotels, while at 3* and 2* hotels the increase was 5.8% and 5.9% respectively.

Analytically, the average capacity per category in June was as follows: 5* hotels 53.5%, 4* 66.7%, 3* 72.3% and 2* 58.4%.

[14] Six-month industrial production index up 1.8%, yr/yr

The medium index for industrial production for the Jan-July period posted a 1.8-percent hike, compared to the same period of 2006.

[15] Athens Stock Exchange: Sharp decline on Thursday

All sector indices lost ground, with the exception of the Utilities sector, with ended 0.80 percent higher. The biggest losses were recorded in Technology (-3.93), Construction/Building Materials (-3.41 percent) and Raw Materials (-3.21 percent).

The Big Cap index ended 1.55 pct down, the Mid Cap index dropped by 1.99 pct and the Small cap index fell by 1.77 pct.

Decliners led advancers led by 251 to 26 with another 23 issues unchanged.

Sector indices ended as follows:

Insurance: -1.12%

Industrials: -2.40%

Commercial: -2.43%

Construction: -3.41%

Media: -1.73%

Oil & Gas: -1.17%

Personal & Household: -1.33%

Raw Materials: -3.21%

Travel & Leisure: -2.48%

Technology: -3.93%

Telecoms: -0.72%

Banks: -1.41%

Food & Beverages: -2.67%

Health: -1.48%

Utilities: +0.80%

Chemicals: -0.47%

Financial Services: -2.81%

The stocks with the highest turnover were OTE, National Bank, Post Office Savings Bank and Marfin Investment Group.

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

Alpha Bank: 22.58

ATEbank: 3.78

Public Power Corp (PPC): 20.72

HBC Coca Cola: 32.96

Hellenic Petroleum: 10.58

Emporiki Bank: 20.24

National Bank of Greece: 42.50

EFG Eurobank Ergasias: 26.16

Intralot: 24.70

Cosmote: 22.26

OPAP: 24.94

OTE: 22.68

Titan Cement Company: 36.10

[16] Greek bond market closing report

The 10-year benchmark bond (July 20, 2017) was the most heavily traded security with a turnover of 240 million euros. The Greek bond yielded 4.66 pct.

In the domestic interbank market, interest rates were mixed. National Bank's overnight rate was 4.10 pct, the two-day rate 4.10 pct, the one-week rate 4.15 pct, the one-month rate 4.18 pct, the three-month rate 4.41 pct, the six-month rate 4.46 pct and the 12-month rate 4.62 pct.

[17] ADEX closing report

The September contract on the FTSE 20 index was traded at a discount of 0.98 pct while the August contract on the FTSE 40 index at a discount of 1.20 percent.

Volume in futures contracts on the FTSE 20 index totaled 9,699 contracts worth 122.609 million euros, with 42,147 open positions in the market, while on the FTSE 40 index volume was 974 contracts worth 30.159 million euros, with 1,661 open positions.

Volume in futures contracts on equities totaled 11,565 contracts worth 16.934 million euros, with investment interest focusing on Marfin Popular Bank and Marfin Investment Group's contracts (1,450 and 1,035 respectively) followed by ATEbank (901), Alpha Bank (856), Intracom (848), Intralot (848), National Bank (710) and Post Office Savings Bank (650).

[18] Foreign Exchange Rates - Friday

U.S. dollar 1.383

Pound sterling 0.682

Danish kroner 7.502

Swedish kroner 9.353

Japanese yen 163.98

Swiss franc 1.653

Norwegian kroner 8.005

Cyprus pound 0.588

Canadian dollar 1.459

Australian dollar 1.618

General News

[19] Concern over rising numbers of dead or injured sea turtles washed ashore on Rhodes

The appeal by the Hellenic Centre for Marine Research Hydrobiological Station of Rhodes was made in response to the alarmingly high numbers of dead or injured sea turtles spotted on the coasts of the island of Rhodes over the past month.

The number of sea turtles washed ashore since the beginning of the year is unprecedentedly high. Sixteen of the 17 sea turtles found were dead and many of them had sustained deep wounds. Reportedly, a total of 6 sea turtles were found dead during the month of July alone, which itself is an unprecedented fact based on the Hydrobiological Station records available.

The Rhodes Hydrobiological Station is not just limited to keeping records of the incidents reported, but it also operates as a first aid station in the wider Dodecannese Islands region, providing medical attention to injured sea animals, particularly sea turtles.

[20] Souda Bay personnel, equipment aided efforts to extinguish local wildfire

An embassy press release noted that base personnel and equipment were immediately dispatched to the site of a blaze approximately 35 miles southwest of NSA Souda Bay, and after local government officials requested assistance from NSA Souda Bay commanding officer Capt. Thomas McDonough.

NSA Souda Bay's initial response team consisted of six fire-fighters, three Greek and three American; and two US Navy Seabees as water tenders. Equipment for the effort included one fire engine, one brush truck specifically designed for fighting wildfires and a 2,000 gallon water truck, the embassy added.

Weather Forecast

[21] Mostly sunny on Friday

Cyprus Affairs

[22] Keen interest in oil exploration around Cyprus, says government

The government has said that there is interest from big oil companies in the search for oil and natural gas reserves at sea, in Cyprus' exclusive economic zone.

Government Spokesman Vasilis Palmas stressed that in this respect Nicosia always acts in line with international law and the Convention of the Law of the Sea, pointing out that Turkey's reaction to this has no justification.

"We believe that Turkey has no legal basis to react the way it does, sending search vessels in the area, off our coasts," he said, noting that Turkish vessels have not so far violated the Republic's territorial waters.

He stressed that Nicosia is monitoring the situation and if it feels that its rights are violated, it will react accordingly.

Responding to questions, he said that the number of companies that has shown an interest in the search and exploration of oil is "satisfactory".

"We have no intention or disposition to turn the oil issue into a political affair. What we are interested in is to make sure that any company involved complies with the specifications laid out and has the clout to carry out the necessary work. We do hope there will be positive results from this effort," he added.

In his remarks on the issue, Minister of Commerce, Industry and Tourism Antonis Michaelides said that China has displayed a keen interest in finding out more information about the whole issue.

[23] Spokesman condemns expulsion of Abbot from occupied monastery

Government Spokesman Vasilis Palmas condemned here Thursday the expulsion of the Abbot of the Turkish occupied Monastery of Apostle Varnavas from the monastery, during a church service.

Last Monday, the Turkish occupation army and so-called police ordered the Abbot and his entourage to leave the Monastery, in Turkish occupied Cyprus, while a church service was underway.

"Unfortunately this is not the first time that such phenomena take place. Needless to say that we condemn such behaviour which does not contribute to the creation of a positive climate between the two communities," Palmas said.

On the contrary, he pointed out, it creates tension and raises suspicion, sentiments which do not help at all the effort to build a positive climate with regard to the Cyprus problem.

Apostle Varnavas is the founder of the autocephalous Church of Cyprus. The Monastery bearing his name is situated outside Famagusta, in the areas of the Republic where the legal government of Cyprus does not exercise its jurisdiction because of the continuing Turkish occupation.

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

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