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Athens News Agency: Daily News Bulletin in English, 15-12-02

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

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

Wednesday, 2 December 2015 Issue No: 5075

CONTENTS

  • [01] PM Tsipras: '2016 will be the year Greece exits from the crisis'
  • [02] The government will be judged at the end of its four years, PM tells SYRIZA lawmakers
  • [03] The government meets the needs of the Greeks that voted for it, State Min Flambouraris says
  • [04] Government majority is not threatened, spokeswoman Gerovassili says
  • [05] There is no problem with the government majority, Interior Min Kouroumblis says
  • [06] Debate on 2016 draft budget starts in plenum; will be voted on Dec. 5
  • [07] Gov't VP asks European Parliament committee's help to restore social security rights
  • [08] What will be decided for Greece in labour will be applied in other European countries too, says Labour Minister Katrougalos
  • [09] Moscovici sees discussion on Greek debt starting in early 2016
  • [10] FM Kotzias urges 'calm and composure' in relations with Russia, continued peace effort in Syria
  • [11] Environment & energy minister to Moscow on Tuesday
  • [12] President Pavlopoulos meets Luxembourg's Labour Min Schmit
  • [13] Migrants stuck at Eidomeni will be taken back to Athens, Mouzalas says
  • [14] Greece called to assume the refugee crisis burden amid EU austerity measures, Stiglitz says
  • [15] Shipping minister discusses trade cooperation with Indian envoy
  • [16] The banks' recapitalisation is probably the biggest robbery in the Greek history, Popular Unity leader Lafazanis says
  • [17] New Democracy sues IT company for botched leadership elections
  • [18] Turkish fighter jets violate Greek airspace
  • [19] ANA-MPA on strike Wednesday
  • [20] Greek economy to return to growth sooner than expected, EconMin says
  • [21] Record number of Greek startups to take part in Equity Investment Forum on Dec. 7-8
  • [22] New electronic wealth statement extended to include valuables, act as pilot for 'wealth register'
  • [23] Greek economic sentiment index unchanged in Nov
  • [24] METRO to buy Veropoulos Group
  • [25] Trading in future contracts on Eurobank and Alpha Bank will begin on Wednesday
  • [26] Greek PMI up to 48.1 points in Nov
  • [27] Greek market watchdog suspends trading in Altec shares
  • [28] Competition authority fines Athenian Brewery 31.4 million euros
  • [29] Greek stocks end moderately higher
  • [30] Greek bond market closing report
  • [31] ADEX closing report
  • [32] Greek island abolishes plastic bags to defend environment
  • [33] Far less refugees arrive to Lesvos on Tuesday, despite good weather
  • [34] At least 3,000 refugees arrive at Piraeus port on Tuesday
  • [35] U.S. embassy asks Greek island to lower rent on Athens property 'due to crisis'
  • [36] Greek journalists to strike on Wednesday
  • [37] Mostly fair on Wednesday
  • [38] The Tuesday edition of Athens' dailies Politics

  • [01] PM Tsipras: '2016 will be the year Greece exits from the crisis'

    If 2015 was the year Greece secured its place in the Eurozone and ended the so-called 'Grexit' talk, then 2016 must be the year the country will start its exit from the crisis, Prime Minister Alexis Tsipras said on Tuesday, during a speech at an annual business forum in Athens.

    Speaking at "The Greek economy" conference, an annual event organized by the American-Hellenic Chamber of Commerce, the prime minister said that "unlike what was happening in the past with the governments of PASOK and New Democracy which were forced to implement a program and an agreement, this government's political plan is not confined to the implementation of the agreement." He said the government has a plan for growth and social justice and will implement it.

    "2016 will be the year that will consolidate the long-term political, economic and social stability in our country," Tsipras said, adding "the only unswerving and irreplaceable condition for political stability is respect for the popular verdict which was delivered three times this year."

    Continuing his address, he said the new year will mark the return to growth and the restoration of social justice which will be directed as a priority to the most disadvantaged social groups.

    He then noted that for the debate on Greek debt restructuring to start, the country must complete successfully its program review which is why the government's goal is to complete it as soon as possible, while simultaneously protecting the weak, such as pensioners. This goal is achievable, said the prime minister, noting that it would be easier if all political parties agreed on these issues.

    [02] The government will be judged at the end of its four years, PM tells SYRIZA lawmakers

    As long as the government pressed ahead and achieved its goals, it would prove all doom-mongers wrong, Prime Minister Alexis Tsipras said on Tuesday while addressing SYRIZA lawmakers. At the same time, he showered criticism on a political opposition that he said "was not equal to the occasion."

    "It is the people that make governments rise and fall," he emphasised, adding that the government will be judged on the basis of its achievements at the end of its four-year term, in the autumn of 2019.

    In a pep talk to SYRIZA MPs in the wake of the weekend's failed attempt to craft consensus with the opposition parties, Tsipras underlined that whatever instability might affect the country's political system, "there is no crisis of instability in this Parliamentary group."

    "If there is instability in the political system, then this is found in those that will meet in this room in a few hours... in an opposition not equal to the occasion," he said, accusing main opposition New Democracy of indulging in pointless anti-SYRIZA rhetoric.

    Tsipras told MPs that the government will do everything possible to protect pensions without further painful cuts, and at the same time, "pull some irons out of the fire" because that was owed to the next generations.

    "For the first time we will attempt to achieve the target of making savings of 1 pct of GDP as foreseen in the August agreement - which New Democracy, PASOK and Potami voted for - not through horizontal cuts but by rationalising the system," he said.

    He noted that the government had already achieved spending cuts of 0.6 pct of GDP and now had to find an additional 0.4 pct. The government was confident that this could be found without reducing main pensions and saving at least the greater part of supplementary pensions.

    The prime minister was scathing in criticising the "hypocrisy" of opposition parties that had voted for pension cuts and the PSI slashing pension fund reserves in the past, as well as protesting in favour of "yes to everything" in the summer but were now refusing to back a uniform national line on the pension system.

    On the issue of non-performing loans, he noted the government had managed to pass measures that protected low incomes and the Greek economy, while he highlighted the benefits of the 100-installment debt settlement schemes for hundreds of thousands of businesses and households.

    The prime minister referred to the economy's overall performance, saying the downturn in 2015 had been much less severe than initially forecast and created reasonable expectations for a return to growth in 2016.

    Referring to the government's record in fighting corruption, Tsipras noted that "while we cannot say that we are satisfied with the fight against tax evasion, illegal trade and corruption, we are improving every day."

    On the unemployment front, the prime minister listed initiatives taken to link employment with vocational training and the needs of industry, to create temporary community service jobs and to create centres providing legal, logistical and information network assistance.

    [03] The government meets the needs of the Greeks that voted for it, State Min Flambouraris says

    Despite the tremendous difficulties and the problems of the past, the government meets the needs of the Greeks that voted for it, State Minister Alekos Flambouraris said in an interview with public broadcaster ERT TV late on Monday.

    He praised the cooperation with the Independent Greeks (ANEL) and considered that "there will be no problem with any issue that needs to pass in Parliament."

    Flambouraris expressed his disappointment over the way that other political leaders handled the recent meeting and noted that "it was not the intention of the prime minister or the government to trap anyone," while adding that "the people understand the impasses of the opposition parties."

    Regarding the social security reforms, he said that the government's red line is to avoid cuts in main pensions.

    The State Minister underlined that the government wants to conclude reforms in the social security and tax systems as soon as possible so that the evaluation proceeds and the debate on the debt settlement begins.

    [04] Government majority is not threatened, spokeswoman Gerovassili says

    "The government's majority is not threatened," government spokeswoman Olga Gerovassili said in an interview with "Sto Kokkino" radio station on Tuesday.

    She added that "it is not in the government's intentions to form an all-party government" adding that consensus is one thing and an all-party government another.

    Gerovassili underlined that the government ought to make a dialogue on important national issues.

    Regarding the social security system, she said that the government's position will go to public consultation in about a week.

    [05] There is no problem with the government majority, Interior Min Kouroumblis says

    There is no problem with the government majority, Interior and Administration Reconstruction Minister Panagiotis Kourou-mblis said in statements to Mega TV on Tuesday.

    Regarding the Prime Minister Alexis Tsipras' stance, he underlined: "The fact that a leader understands his responsi-bility towards the people and seeks consensus in major issues, proves his responsibility towards his country and the society."

    On the possibility of other political forces participating in the government, Kouroumblis said that when someone seeks consensus, it does not mean that other parties will participate in the government.

    [06] Debate on 2016 draft budget starts in plenum; will be voted on Dec. 5

    The debate on the government's 2016 draft budget started at the parliament's plenum on Tuesday evening with speeches by the rapporteurs of all parties. It will be concluded on December 5 (Saturday) at midnight.

    [07] Gov't VP asks European Parliament committee's help to restore social security rights

    Greece requested on Tuesday the active and substantial contribution of the European Parliament's Committee on Employment and Social Affairs in its effort to restore social, labor and social security rights in the country, in a meeting between Government Vice-President Yiannis Dragasakis and a Committee delegation.

    According to the Vice Presidency, Dragasakis thanked the delegation for coming to Greece, noting that the way out of the crisis passes through the protection and deepening of social rights, and not through their restriction or undermining.

    He also told the delegation that after six years of recession, Greece has retreated from the European social acquis by adopting in many cases the worst practices and stressed the government's will to reverse this situation. For this, he asked the Committee for a preventive, as well as an ex post assessment of the social impact of the implemented economic policies.

    The delegation included MEPs Thomas Haendel (European United Left - Nordic Green Left), Amjad Mahmood Bashir (ECR), Miapetra Kumpula-Natri (S&D) and Laura Agea (EFDD).

    [08] What will be decided for Greece in labour will be applied in other European countries too, says Labour Minister Katrougalos

    The government aims to form a just and sustainable social security system without further pension cuts, Labour Minister George Katrougalos said during his meeting with the president of EU Labour Ministers Council Nicolas Schmit on Tuesday.

    He also stressed that it is not only a national guideline but a national need.

    Katrougalos said that the aim is the stregthening of the social dimension in Europe while the proposal for a Eurogroup of EU Labour Ministers like the one of the Finance Ministers Eurogroup was also discussed.

    "The issue of the negotiations with the institutions is not exclusively a bilateral issue but a European one because since we have to define what are the best European practices on the labour sector, what will be decided for Greece, will also apply in the future to France, Italy, Portugal and the whole Europe. So, we insist on the European social model," noted Katrougalos.

    On his part, Schmit focused on the strengthening of employment, and mainly on young people, that will bring Greece a step closer to the integration in the European vision and the promotion of the European social values.

    [09] Moscovici sees discussion on Greek debt starting in early 2016

    BRUSSELS (ANA-MPA/ C. Vasilaki)

    European Commissioner for Economic and Financial Affairs Pierre Moscovici on Tuesday said he was confident that a discussion on Greece's debt might begin at the start of 2016, while addressing the European Parliament's Economic Affairs Committee.

    "I believe that in the start of the year we will be ready to begin the discussion on the debt," he said in reply to EuroParliament Vice-President and SYRIZA MEP Dimitris Papadimoulis but did not clarify when this discussion might end.

    Moscovici also referred to the deadlines and milestones by which the reforms must succeed and the programme be implemented.

    He noted that the first package of reforms had been implemented and the second package was in the process of being approved, with "ambitious and bold" reforms - such as that for the pension system - still pending.

    According to Moscovici, Greece was moving in the right direction to secure more disbursements but also the recapitalisation of the banks.

    [10] FM Kotzias urges 'calm and composure' in relations with Russia, continued peace effort in Syria

    BRUSSELS (ANA-MPA/ C. Vasilaki)

    In a statement from the NATO ministerial in Brussels, Greece's Foreign Minister Nikos Kotzias on Tuesday called for toning things down and for calm and composure as concerns the relations of the West, and especially NATO, with Russia - as well as continued efforts for peace in Syria.

    "We believe that the talks and dialogue that started in Vienna must continue, with the main aim of our ensuring peace and the restored functioning of society in Syria, and the shaping a democratic Constitution and elections in that country," he said.

    "Because the source of the refugee problem is the Syrian crisis, and the solution to this problem is to bring peace to Syria," he added.

    Commenting on his visit to Tehran, prior to his arrival in Brussels, Kotzias said its goal was to formulate a comprehensive action plan ahead of a visit to Iran by Greece's Prime Minister Alexis Tsipras in early 2016.

    He noted that the trip to Iran was just one of several to the Middle East in the last two weeks, following earlier visits to Istanbul and Ankara, Israel and Palestine.

    Kotzias also announced that Egyptian President Abdel Fattah al-Sisi will be visiting Athens on December 8.

    [11] Environment & energy minister to Moscow on Tuesday

    Environment and Energy Minister Panos Skourletis is to travel to Moscow on Tuesday, at the invitation of Russian Energy Minister Alexander Novak.

    Skourletis and Novak will meet on Wednesday to discuss bilateral energy issues, while the Greek minister is also scheduled to meet with senior management of the Russian energy giant Gazprom and VEB Capital, the investment arm of the Russian development bank Vnesheconombank (VEB).

    [12] President Pavlopoulos meets Luxembourg's Labour Min Schmit

    Greek President Prokopis Pavlopoulos in a meeting with Labour Minister of Luxembourg and President of the Council of Labour Ministers Nicolas Schmit on Tuesday asked for his support in labour rights.

    Pavlopoulos stressed the importance of supporting labour rights amid a period of high unemployment in Greece as well as in other EU countries, saying that the international labour contracts regarding labour rights constitute an integral part of the European Institutional Acquis, which we must respect and fully implement.

    "In Greece we respect the commitments that we have made, but your support is also needed, so that with the implementation of the social state, social cohesion in Greece is supported, given that the Greek people have suffered a lot all these years," Pavlopoulos underlined.

    He made special reference to the need to support the social state, adding that it constitutes the main pillar of the EU structure.

    On his part, Schmit underlined the need to support the Greeks based on the EU solidarity and referred to the recent difficulties in Greece. He made special reference to the refugee issue and highlighted the Greek efforts to reduce migration flows. "We ought to support Greece, we owe a lot to Greece and we will continue to do so at this critical juncture for Europe," he stated.

    [13] Migrants stuck at Eidomeni will be taken back to Athens, Mouzalas says

    The refugees and migrants stuck at the border with the Former Yugoslav Republic of Macedonia (FYROM) at the Eidomeni crossing will be transported back to Athens, which was equipped with hospitality structures to receive them, Alternate Minister for Migration Policy Yiannis Mouzalas said on Tuesday.

    "We do not believe that the borders will open. We have started a campaign to take them from Eidomeni and bring them to Athens. It is clear that the railway line cannot stay closed for nine days," he told the radio station "Alpha 9.89".

    Commenting on FYROM's decision to close its borders to all except selected nationalities, he noted that this "was a violation of international law".

    "The classification of refugees on the basis of nationality is illegal. It essentially amounts to the first admission of an inability of migrants and refugees to travel to other European countries, confirming the fears that there is a visible danger of thousands of people becoming trapped on Greek territory," he said.

    The minister went on to announce that a refugee identification centre will be created on the Aegean island of Kos, stressing that this was necessary in order for Kos to avoid the phenomena of the previous summer.

    [14] Greece called to assume the refugee crisis burden amid EU austerity measures, Stiglitz says

    VIENNA (ANA-MPA/ D. Dimitrakoudis)

    Greece, which is under strong pressure as a result of the European austerity measures, is now called to assume the burden of the refugee crisis, Joseph E. Stiglitz, a Nobel laureate in Economics, said in a discussion with reporters in Vienna.

    Stiglitz who was keynote speaker at the conference of UNIDO asked for a fairer distribution of wealth worldwide, and expressed concern that refugees constitute a danger for the poor, as in the future they will be competitive in cheap work.

    He warned that acceptance of refugees in countries with high unemployment such as Spain or Portugal, it would further increase unemployment.

    Stiglitz underlined that the Fed and the ECB's policies are in the wrong direction, as they have proven to be unsustainable while creating inequality and problems in other countries.

    [15] Shipping minister discusses trade cooperation with Indian envoy

    Shipping and Island Policy Minister Thodoris Dritsas discussed strengthening bilateral cooperation with India's Ambassador to Greece, M. Manimekalai, in his office on Tuesday.

    According to a press release from the ministry, Dritsas emphasized the further development of shipping and trade cooperation to benefit the two countries and to promote their cooperation in international organizations.

    On her side, India's Ambassador agreed on the need to deepen cooperation between the two countries, confirming - on the occasion of the 65 years from the official establishment of diplomatic relations between the two countries - the excellent level of bilateral relations.

    She also identified as possible areas of cooperation maritime transport, port infrastructure, exchange of maritime know-how, the development of economic activities in coastal areas, maritime education and labor, shipbuilding activity and ship dismantling. At the same time, she stressed the need for cooperation at an international level, with emphasis on addressing piracy and armed robbery and on facilitating the exercise of the seafaring profession.

    [16] The banks' recapitalisation is probably the biggest robbery in the Greek history, Popular Unity leader Lafazanis says

    The recapitalisation of the banks is probably the biggest robbery in Greece's history, Popular Unity leader Panagiotis Lafazanis said in an interview with Praktorio FM on Tuesday.

    The only solution for exiting the crisis is nationalising the banks and exiting the eurozone.

    "The way the recapitalisation of the banks was carried out, it constituted a big robbery, perhaps the biggest robbery in the country's history, because more than 40 billion euros have disappeared from the public sector, while bondholders, social security funds and small investors lost a lot of money," he said.

    Asked whether the identification with the drachma harmed Popular Unity, Lafazanis stated that Greek citizens have been "brainwashed" with the euro, "it is the hardest kind of dictatorship". However, he noted that the "euro terrorism weakens in the society."

    He also accused the media that they do not present the position of the party deliberately as it is the only political force with an alternative solution to the memorandum looting.

    [17] New Democracy sues IT company for botched leadership elections

    Main opposition party New Democracy (ND) submitted a lawsuit and applied for interim measures against the IT company which failed to conduct the party's leadership elections last month due to serious technical problems, ND announced on Tuesday.

    Interim leader Yiannis Plakiotakis authorized the party's legal councilor to request the seizure of Infosolutions' movable and immovable property for the sum of up to 2.5 million euros. The temporary order for interim measures will be discussed at court on Friday.

    [18] Turkish fighter jets violate Greek airspace

    Six Turkish F-16s flew over four Greek islands on Tuesday violating the country's airspace, the country's Hellenic National Defence General Staff said in a press release.

    The fighter jets entered Athens FIR in formation at 15.01 (local time) between Lesvos and Chios without submitting a flight plan. The formation was then divided in two groups of four and two jets and flew over the small islands of Fourni and Makronisi-Anthropofagi respectively. The two groups of Turkish jets exited Athens FIR at 15.28 and 15.30, flying over Samos.

    The foreign jets were recognized and intercepted by Greek fighters. It is the fourth time this year that Turkish fighter planes fly over these islands - and especially Anthropofagi - following the same procedure and without submitting flight plans.

    NOTICE TO SUBSCRIBERS:

    [19] ANA-MPA on strike Wednesday

    Please note that due to a 24-hour strike on Wednesday, ANA-MPA will not be sending news stories out from 06.00 (local time) on Wednesday (Dec. 2) to 06.00 on Thursday (Dec. 3).

    The strike will affect the update of stories on the subscribers' online service and the renewal of the website.

    Financial News

    [20] Greek economy to return to growth sooner than expected, EconMin says

    "Greece will not become a tax heaven. We will follow the road of European countries which maintain high tax rates," Economy Minister George Stathakis said on Tuesday, addressing a conference organized by the American-Hellenic Chamber of Commerce.

    "We will not transfrom the Greek economy into a low labor cost economy, as in other neighboring countries, tax and social security rates will be around the EU average raes and this is a condition for our economy growth," Stathakis said, adding that the model adopted in the country since the first memorandum was signed for a rapid shrinking of state spending and wage reduction to the levels of neighboring states has been tested and was leading to risky paths. "But Greece has productivity well above these countries. The stategy of violent de-escalation was wrong and it is positive that it has been abandoned. Because of the crisis and bankruptcy we could not flirt with logics that put permanent burdens on the economy," the Greek minister said.

    He stressed that Greece could exit the crisis in a sustainable and social cohesive way, adding that the economy will return to positive growth rates sooner than expected, probably in the first quarter of 2016, but surely before the end of the first half of 2016.

    Stathakis said the government has positively handled the imposition of capital controls and noted that sectors such as tourism and manufacturing remained unaffected. The Greek minister said the government will present a new growth model by May 2016, adding that adoption of the 48 milestones agreed with creditors last summer and a successful completion of a bank recapitalization plan -with the state participation limited to 5.5 billion euros from the 25 bln initially estimated- will bring stability and prospect back to the economy and added that completion of the first review of the Greek adjustment programme in December will offer additional boost.

    Stathakis said that a reprofiling of the Greek debt for the period after 2022 -bas envisaged in an agreement signed with creditors- will ensure that Greece will not face any debt crisis in the future. He noted that a series of interventions and reforms currently implemented, such as simplification of licensing procesures, creating an investor-friendly enviroment, adopting a new e-procurement system, revising a development leaw and adopting measures to attract foreign direct investments, along with introducing a stable tax system which will be included in a new development legislation, "Greece could become a pole of stability and growth".

    [21] Record number of Greek startups to take part in Equity Investment Forum on Dec. 7-8

    More than 300 business plans from Greek startups, developing small and medium-sized companies from a very wide spectrum of business activity have been submitted at the Equity Investment Forum, which will be held on Dec. 7-8 in Athens, the event's organizers said on Tuesday.

    Enterprise Greece, the Athens Stock Exchange, Hellenic Venture Capital & Private Equity association (HVCA), state-sponsored capital fund TANEO and PRAXI Network said this number is three times higher than the one in the previous conference.

    Organizers said that more than 1,000 delegates have registered for the event, double the number of participants from last year, while online applications will remain open until Dec. 4 through the webpage www.eiforum.gr.

    This year's guest country is Israel and representatives of the country's investment community will be taking part in the two-day forum, transferring know-how, experiences, and proposals for creating a corresponding coherent and comprehensive innovation ecosystem in Greece.

    Greece's Economy, Development and Tourism Minister Giorgos Stathakis will speak on the first day of the event.

    [22] New electronic wealth statement extended to include valuables, act as pilot for 'wealth register'

    Greeks currently obliged to submit wealth statements will also be obliged to declare all precious stones, jewelery and other valuables in their possession - including sums of cash exceeding 15,000 euros - that they keep in their homes or in bank safe deposit boxes, based on a ministerial decree signed by the justice and finance ministers on Tuesday.

    The wealth statements for 2016 must be submitted electronically and must include all household valuables whose total estimated worth exceeds 30,000 euros, including those belonging to children. Statements must be submitted even if there has been no change in wealth status.

    The new electronic wealth statements will automatically draw key figures from income tax returns.

    The electronic platform for the wealth statement - which is currently only mandatory for MPs, journalists and state officials - is to act as a pilot for creating an electronic wealth register that is to be eventually extended to all tax payers.

    [23] Greek economic sentiment index unchanged in Nov

    Greek economic sentiment index remained unchanged in November from the previous month, the Institute for Economic and Industrial Research (IOBE) said on Tuesday.

    In a monthly report, IOBE said the index was unchanged at 86.5 points, evidence of a wait-and-see attitude prevailing in economic activity in the country at this stage. The index is significantly lower compared with an 102.8 point reading in November 2014.

    Business expectations improved in the manufacturing and retail commerce sectors, but deteriorated in services, constructions and consumer confidence.

    The report noted that a new bailout agreement with the institutions was currently underway, but uncertainties still remained strong.

    More analytically, business expectations in the manufacturing sector remained unchanged over production levels, in the services sector expectations over current demand remained unchanged but forecasts over the short-term trend of demand improved slightly.

    In the retail sector, negative forecasts over current sales and short-term developments showed signs of improvement, while inventories grew slightly.

    In the construction sector, expectations deteriorated further.

    Consumer confidence among Greek households deteriorated in November, as households became more pessimistic over developments in their finances and the country's economic condition in the next 12 months.

    Economic sentiment remained unchanged in the EU and the Eurozone in November, but remained above the long-term average level.

    [24] METRO to buy Veropoulos Group

    METRO, a Greek supermarket company owned by Panteliadis family, on Tuesday signed a pre-agreement to buy Veropoulos, another Greek supermarket company, for an undisclosed sum.

    The agreement was submitted for approval to the Competition Commission. Under the agreement, METRO will purchase all central warehouses and the branch network of Veropoulos (operating 180 units in 54 Greek cities), while the Veropoulos family will keep its activities in FYROM and Serbia (operating a network of 16 units).

    In an announcement, Veropoulos said that the agreement safeguarded the company's viability, an historic Greek company with a workforce of 4,500. "With this agreement, a new strong Greek player in the supermarket sector is created, able to contribute significantly to the strengthening of the retail food sector - a sector acknowledged as one of the largest employers in the country and a significant pylon of the Greek economy," the statement noted.

    Nikos Veropoulos, chairman and chief executive of Veropoulos Group, said: "This agreement is supported by two companies sharing - throughout time - a common perspective on Greek origin. A common philosophy based on careful planning, non-negotiable professionalism, clear partnerships and sincere interest for the big family of our workers. To those we owe our course, so far, to those we have the obligation to do anything possible for a better tomorrow".

    [25] Trading in future contracts on Eurobank and Alpha Bank will begin on Wednesday

    The Athens Stock Exchange executive commission on Tuesday approved the listing of future contracts on Eurobank Ergasias and Alpha Bank in the market and said that trading on these instruments will begin on Wednesday, 2 December.

    [26] Greek PMI up to 48.1 points in Nov

    Greek Purchasing Managers' Index (PMI) rose to 48.1 points in November from 47.3 in October, to the highest level in seven months, Markit said in a report on Tuesday.

    The November figure showed that manufacturing production fell further in the month, although at a smaller rate, reflecting a lack of demand in the Greek economy. Incoming new orders fell further in November, remaining on a declining trend since September 2014, while incoming new orders fell from abroad as well at a faster rate compared with October. Volume of pending works eased in November, hit by lower new orders, while employment levels in Greek manufacturing companies fell for the eighth successive month. Average delivery times extended further while the avegage cost burden increased in November, remaining on an upward trend since February. On the other hand, manufacturing enterprises continued cutting their selling prices.

    The PMI measures business activity in the manufacturing sector. Readings above 50 indicate a growing sector while readings below 50 a shrinking sector.

    [27] Greek market watchdog suspends trading in Altec shares

    Greek Capital Market Commission on Tuesday announced it was temporary suspending trading in Altec shares for a maximum period of 10 days. The market watchdog based its decision on suspicion that quarterly results released by the company have not been drafted based on international accounting standards, while the auditor expressed a negative conclusion on the results.

    [28] Competition authority fines Athenian Brewery 31.4 million euros

    The Greek Competition Commission on Tuesday announced it was fining Athenian Brewery SA the sum of 31,451,211 euros for abusing its dominant position in the market.

    It is the highest ever fine imposed on a single company by the Greek competition watchdog and covers cases of breaching competition rules over a period of 15 years.

    The competition authority began an inquiry after a complaint filed by Mythos Brewery against Athens Brewery. The decision calls Athenian Brewery to end actions of a similar nature and to draft written contracts to avoid any such behavior in the future.

    [29] Greek stocks end moderately higher

    Greek stocks ended moderately higher in the Athens Stock Exchange on Tuesday, with investment interest focusing on selected blue chip stocks such as OPAP and Hellenic Petroleum, while PPC and Athens Water came under selling pressure. Greek banks' shares will return to the market on Wednesday after completing a reverse split process.

    The composite index of the market rose 0.71 pct to end at 639.33 points, off the day's highs of 641.52 points. Turnover was a low 24.492 million euros in volume of 6,436,155. The Large Cap index rose 0.93 pct and the Mid Cap index ended 0.07 pct up.

    OPAP (6.88 pct), Hellenic Petroleum (5.88 pct) and Titan (3.47 pct) scored the biggest percentage gains among blue chip stocks, while PPC (6.36 pct), Athens Water (3.57 pct) and Lamda Development (2.18 pct) suffered the heaviest losses.

    Among market sectors, Travel (5.54 pct), Oil (3.27 pct) and Financial Services (3.13 pct) scored big gains, while Utilities (4.44 pct), Insurance (2.11 pct) and Technology (1.01 pct) suffered losses.

    Broadly, advancers led decliners by 43 to 40 with another 24 issues unchanged. Dionic (17.24 pct), Sidma (11.25 pct) and ANEK (9.80 pct) scored big gains, while Athina (20 pct), Pasal (18.60 pct) and AEGEK (16.13 pct) were top losers.

    [30] Greek bond market closing report

    The yield spread between the 10-year Greek and German benchmark bonds widened to 7.1 pct in the domestic electronic secondary bond market on Tuesday, from 6.85 pct the previous day, with the Greek bond yielding 7.56 pct and the German Bund yielding 0.46 pct. Turnover was a thin 5.0 million euros.

    In interbank markets, interest rates eased further. The 12-month rate fell to 0.045 pct from 0.048 pct, the nine-month rate fell to -0.006 pct from -0.003 pct, the six-month rate fell to -0.045 pct from -0.040 pct, the three-month rate fell to -0.116 pct from -0.113 pct and the one-month rate was -0.161 pct.

    [31] ADEX closing report

    The December contract on the FTSE/ASE Large Cap index was trading at a discount of 2.09 pct in the Athens Derivatives Exchange on Tuesday. Volume on the Big Cap index totaled 1,190 contracts with 15,132 open positions in the market. Volume in futures contracts on equities totaled 4,590 contracts with investment interest focusing on PPC's contracts (1,916), followed by MIG (609), OTE (302), OPAP (648), Hellenic Exchanges (99), Mytilineos (80), Hellenic Petroleum (481), Frigoglass (92), Piraeus Port (75), Grivalia Properties (97) and Titan (37).

    General News

    [32] Greek island abolishes plastic bags to defend environment

    The small island of Alonnisos, the third member of the Northern Sporades group in the central Aegean, is abolishing plastic bags from all stores and supermarkets starting December 1 to protect its fragile ecosystem, the non-governmental organization Mediterranean SOS Network (MedSOS) announced on Tuesday.

    The lush green island, home of the most important remaining populations of Mediterranean monk seals (Monachus monachus) in the region, is the first area of Greece to trade plastic bags with environment-friendly canvas bags for transporting goods.

    Throughout the day, municipal officials, students and volunteers greeted residents at the supermarkets and other stores to inform them of the change and provide them with canvas bags and leaflets explaining the initiative, said the NGO which implemented the initiative along with other environmental organizations. It also said local supermarkets embraced the call and stopped providing plastic bags altogether, giving clients reusable bags for their shopping.

    "At a time when the economic downturn is blocking the promotion of viable proposals, a small island proves its willingness to defend its natural wealth and be an example for other communities, by adopting new practices and another culture towards environmental management," the NGO's said in a press release.

    "Alonissos is turning a page; pioneers in the crucial - for the sustainability of Greek islands - field of protection and preservation of the marine environment and becomes a top destination for alternative tourism," they added.

    Authorities now plan educational initiatives, coastal cleanups and consultation workshops to build environmental consciousness and expand the program throughout the island.

    [33] Far less refugees arrive to Lesvos on Tuesday, despite good weather

    The flow of refugees and migrants arriving to the Greek island of Lesvos from the Turkish coast appeared to have stemmed significantly on Tuesday, despite good weather conditions, authorities said.

    Local police said only 696 people were waiting at the port to take the ferry to Piraeus and a mere 160 refugees were waiting outside the newly opened hotspot to be registered.

    According to police data presented on Monday, arrivals have stabilized to 2,500 per day, with Turkish media reporting that authorities in the neighbouring country arrested more than 1,500 people trying to cross into Greece.

    Another 2,472 refugees and migrants were recorded at the Identification and Registration center in Moria, while 2,982 people left the island with regular and extra ferry routes on the same day.

    [34] At least 3,000 refugees arrive at Piraeus port on Tuesday

    More than 3,000 refugees arrived at Piraeus port on Tuesday morning.

    "Super Fast XII" carried 1,485 refugees from Mytilene, "Blue Star 1" carried 780 refugees from Mytilene and "Nisos Rhodos" carried 698 from Mytilene and 204 from Samos.

    [35] U.S. embassy asks Greek island to lower rent on Athens property 'due to crisis'

    The U.S. embassy in Athens has asked the municipal authority on the Greek island of Chios for a 15 pct discount in the yearly rent it pays on a property in the upper-crust Athens district of Kolonaki, saying it should have a lower rent due to the economic crisis.

    The house leased by the embassy was part of a bequest left to the municipality and was leased by the embassy in 2004 for the sum of 21,000 euros. The U.S. embassy has asked for a more competitive rent of 18,000 euros a year, saying rents in the area have fallen due to the economic crisis.

    The municipality's financial committee is to examine the request after conducting a survey of going rates for rent in the area.

    [36] Greek journalists to strike on Wednesday

    Journalists in Greece will hold a 24-hour strike on Wednesday to participate in the labour action called by the country's two major unions, ADEDY and GSEE a day later.

    This means no news will be transmitted between 06.00 (local time) on Wednesday morning and 06.00 on Thursday (Dec. 3). Journalists are also planning a rally outside their union's offices in central Athens and a march is expected to follow.

    Weather forecast

    [37] Mostly fair on Wednesday

    Mostly fair and northerly winds are forecast for Wednesday. Wind velocity will reach 6 on the Beaufort scale. Scattered clouds in the northern and the western parts of the country with temperatures ranging from 03C-19C. Partly cloudy in the eastern parts, 04C-19C. Mostly fair over the Aegean islands and Crete, 12C-20C. Scattered clouds in Athens, 07C-18C. Partly cloudy in Thessaloniki, 08C-15C.

    [38] The Tuesday edition of Athens' dailies

    at a glance

    AVGHI: Stability code

    DIMOKRATIA: Everything regarding the pensions

    EFIMERIDA TON SYNTAKTON: The same old story again (referring to an ecumenical government)

    ELEFTHEROS TYPOS: New pension limits

    ETHNOS: Pension limits rise from 5 months to 17 years

    IMERISSIA: Banking fever

    KATHIMERINI: Government in "red"

    NAFTEMPORIKI: Memorandum on debt

    RIZOSPASTIS: Employees and farmers on strike

    TA NEA: The government leaves open the possibility of a wider coalition

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