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Athens News Agency: Daily News Bulletin in English, 17-01-27

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

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

Friday, 27 January 2017 Issue No: 5339

CONTENTS

  • [01] Tsakalotos: IMF's requirements are sidelining European and democratic values
  • [02] 'A good discussion on Greece,' Moscovici says after Eurogroup
  • [03] Sapin says 'not reasonable' to ask greece to pre-legislate measures beyond 2018
  • [04] Eurogroup's full statement on Greece
  • [05] Eurogroup on Thursday to focus on second programme review
  • [06] FinMin Tsakalotos series of meetings ahead of Eurogroup
  • [07] Dijsselbloem: There is a 'joint interest' in getting process for Greece moving again
  • [08] Today's Eurogroup crucial for the Greek economy, says Alt. Economy Min. Charitsis
  • [09] The opportunity to close second review should not be missed today, EP Vice president Papadimoulis tells ANA
  • [10] S&D MEPs urge Eurogroup to conclude 2nd review of Greek programme
  • [11] IMF still at odds with Germany, insists Greek programme is not sustainble, sources say
  • [12] Institutions examining IMF's conditions to participate in the Greek programme
  • [13] IMF needs to see that Greek programme 'adds up', Murray tells press briefing
  • [14] FM Kotzias reacts to EP president Tajani's statement
  • [15] 'Alexander the Great was a Greek' Tajani says, in response to furore in Greece
  • [16] Alt. FM Katrougalos meets with chief of Euroasian Economic Commission Sargsyan
  • [17] The Parliament will not vote for additional measures, Administrative Reconstruction Min says
  • [18] Greek Finance ministry begins widespread controls to combat tax evasion
  • [19] FM Amanatidis stresses importance of ecclesiastical diplomacy
  • [20] Supreme Court refuses to extradite eight Turkish servicemen that fled to Greece
  • [21] Prosecutor to request release of Turkish army officers; decision up to the police director
  • [22] Greek parties hail Supreme Court's decision to refuse extradition of Turkish army officers
  • [23] Turkey reacts angrily to Greek court's decision on extradition request
  • [24] Parliament head meets Israeli president during official visit
  • [25] ND leader Mitsotakis pays tribute to the victims of the Holocaust
  • [26] Greek police officials meet Afghan officials to discuss migration, return of nationals
  • [27] Greek economy to grow by 1.5-2.0 pct this year, IOBE report
  • [28] Greek insurance industry faces challenges in 2017
  • [29] TD Asset Management owns a 5.24 pct equity stake in Bank of Cyprus
  • [30] Eurobank-New Post Savings Bank merger a landmark decision
  • [31] BAT Hellas begins Job Center initiative in Greece
  • [32] Piraeus Bank lowers equity stake in Trastor to 39.4 pct
  • [33] Greek competition authority approves Sklavenitis-Marinopoulos deal
  • [34] Nissan sales up 12 pct in Greece last year
  • [35] South Aegean awarded European Region of Gastronomy 2019
  • [36] Greek stocks edge higher
  • [37] Greek bond market closing report
  • [38] ADEX closing report
  • [39] Yacht with migrants and refugees towed to Gerolimenas port
  • [40] Farmers block Corinth-Patra highway for two hours
  • [41] Four-hour work stoppage at the metro on Friday
  • [42] Sleet, snow on Friday
  • [43] The Thursday edition of Athens dailies Politics

  • [01] Tsakalotos: IMF's requirements are sidelining European and democratic values

    The demands put forward by the International Monetary Fund (IMF) which require that Greece legislates now for measures that will be implemented after the end of the current bailout program are sidelining democratic values, Finance Minister Euclid Tsakalotos said on Thursday, after a Eurogroup meeting in Brussels.

    "You cannot request a country to legislate for what it will do as of 2019. In this way, European and democratic values are sidelined," the minister said, noting that this would commit future governments of a European country.

    Speaking about the meeting, Tsakalotos said all participants recognized that Greece has made great progress and that the Greek economy can achieve growth. "In all the meetings, we found common ground. Greek growth is doing much better than many expected," he said.

    Commenting on the pending program review, he said everyone noted the importance of reaching a solution quickly. He then asked to consider the IMF's demand for legislating precau-tionary measures that concern the period after 2018, saying if the country is making such progress, "new measures are not so necessary".

    [02] 'A good discussion on Greece,' Moscovici says after Eurogroup

    BRUSSELS (ANA/ M. Spinthourakis)

    Greece has achieved remarkable results and "we are not very far from achieving the goal," European Commissioner for Economic and Financial Affairs Pierre Moscovici commented on Thursday, in a press conference after Eurozone finance ministers met in Brussels. He expressed confidence that a swift resumption of talks on completing the second review was possible if everyone puts in "their best effort".

    Eurogroup President Jeroen Dijsselbloem, though more cautious in his assessment, said that the Greek economy was recovering more quickly than expected, with Greece set to surpass fiscal targets in 2016. "We encourage them to continue in this way and implement reforms," he said.

    Dijsselbloem said the Greek economy had entered a path of growth and fiscal reform and that there was a "joint interest" in rapidly completing negotiations to conclude the second review of the Greek programme.

    Moscovici said the discussion at the Eurogroup had been good and that he was "more optimistic" about concluding the review. Only two or three points were still outstanding, he said, while the Council considered that a mechanism to ensure Greece's fiscal stability was necessary.

    "Nobody wants a return to the past," the Commissioner added, expressing hope that the institutions will soon be back in Athens if all sides do what must be done.

    European Stability Mechanism (ESM) Managing Director Klaus Regling referred to the short- and medium-term measures adopted to relieve Greece's debt burden.

    [03] Sapin says 'not reasonable' to ask greece to pre-legislate measures beyond 2018

    France believes it is not reasonable to ask Greece to vote now measures that will be implemented after 2018, and which may not be needed, French Finance Minister Michel Sapin said on Thursday, after a Eurogroup meeting in Brussels.

    Sapin said today's talk on Greece was brief and that essentially ministers took stock of where talks are, with all sides expressing the will to conclude the second program review as soon as possible. "Everyone wants the review to conclude," he said.

    Asked about the IMF's participation in the Greek program, the French minister said it is necessary, considering it has been a part of it from the beginning. "Otherwise, the markets would pose the question why the IMF left and that wouldn't be in favor of Greece's credibility," he said.

    [04] Eurogroup's full statement on Greece

    The Eurogroup meeting held in Brussels on Thursday issued the following statement on Greece and on its talks with its lenders:

    "The institutions briefed the Eurogroup on the second review of the economic adjustment programme, following their review mission to Athens in December.

    The Eurogroup urged the Greek authorities and the institutions to swiftly resume negotiations to agree on a policy reform package shared by all stakeholders. Such an agreement is a condition for the successful conclusion of the second review.

    The reforms concern Greece's labour and product markets, its energy sector and other areas. An agreement on Greece's medium-term fiscal strategy, i.e. in 2018 and beyond, is also expected.

    The European Stability Mechanism (ESM), which is providing the financing for the programme, informed ministers about progress made in implementing the short-term debt relief measures for Greece. These measures were endorsed by the Eurogroup in December and formally adopted by the ESM and EFSF (European Financial Stability Facility) boards of directors on 23 January 2017.

    The measures aim to reduce interest rate risk for Greece, including by changing some debt rates from floating to fixed, and to make the burden of debt repayment easier. They do not have any budgetary implications for the ESM shareholders, which are the euro area member states."

    [05] Eurogroup on Thursday to focus on second programme review

    The Eurogroup meeting on Thursday will focus on the second programme review.

    The conclusion of the second programme review can be achieved by the Eurogroup in February, a senior eurozone official on Wednesday said adding that the participation of the IMF in the Greek programme is a prerequisite.

    He also said that the Eurogroup on Thursday will discuss the progress made in the second programme review and the continuation of the negotiations between the government and the institutions in the near future.

    The EU official estimated that there are good chances for the four institutions to find common ground so as to return in Athens for the conclusion of the review. He also said that the Greek authorities will be in a position to agree on the basic parametres and therefore the conclusion of the second review be achieved by February's Eurogroup.

    As regards the IMF demand to legislate in advance measures for the period after 2018, he acknowledged that it is a great issue that needs to be dealt with in order to find a solution.

    Regarding the IMF, he stressed that its full participation in the programme is a sine qua non. Otherwise, he said that the non-participation of the Fund in the programme would bring significant technical problems and long delays.

    Finally, the official noted that February is the last month in which a solution can be found, as he said in March, as a "long electoral period" starts for a number of member states.

    [06] FinMin Tsakalotos series of meetings ahead of Eurogroup

    BRUSSELS (ANA/M. Spinthourakis)

    Greek Finance Minister Euclid Tsakalotos and Alternate Finance Minister George Chouliarakis on Thursday are holding preparatory meetings ahead of the Eurogroup meeting in Brussels later in the day.

    Tsakalotos is now meeting with the president of the Eurogroup Jeroen Dijsselbloem and then he will have meetings with institutional representatives of the creditors - European Commission, ECB, ESM and IMF.

    After the consultations and before the ministers' summit, at 16.00 (Athens time), Tsakalotos will meet with his German counterpart Wolfgang Schaeuble.

    [07] Dijsselbloem: There is a 'joint interest' in getting process for Greece moving again

    BRUSSELS (ANA/ M. Aroni)

    There is a "joint interest" in finding a way for Greece to progress toward economic recovery and to get the negotiations with Athens moving forward again, Eurogroup President Jeroen Dijsselbloem said on Thursday, in comments about his meeting with Greece's Finance Minister Euclid Tsakalotos earlier the same day.

    "I am sure we will find a way to take steps," he said.

    In a doorstep statement as he arrived for Thursday's Eurogroup meeting, Dijsselbloem told reporters that he and Tsakalotos had "discussed the state of play...you know, all the difficult topics" and the "possibilities to move forward." He said the Eurogroup will listen to Tsakalotos and the European institutions and "see how we can get the process moving again."

    Asked about the position of the International Monetary Fund (IMF), Dijsselbloem said he had recently spoken to IMF chief Christine Lagarde, who reassured him that "the IMF still has strong intentions to remain part of the [Greek] programme, to take that step and to participate in the programme in full."

    While it had made a lot of effort to remain a part of the programme, he noted, "the IMF had always made their terms very clear: reforms need to be credible, the fiscal path needs to be credible and debt sustainability needs to be credible."

    Asked if the conclusion of the second review was in sight, Dijsselbloem replied that this "is what we are working for" but since there were currently no talks taking place on the ground in Athens "this is what we need to restart now." He declined to elaborate on what Tsakalotos might "offer" the Eurogroup meeting to "bridge the gap" but noted that "we are all in a very constructive mode".

    Meanwhile, a meeting was underway on Thursday between Tsakalotos, Alternate Finance Minister George Chouliarakis and German Finance Minister Wolfgang Schaeuble in Brussels, Greek government sources reported.

    The sources said that Tsakalotos and Chouliarakis had earlier also met EuroWorking Group chairman Thomas Wieser and senior representatives of the institutions, among them the head of the European Commission's Marco Buti (DG Economic and Financial Affairs) and the mission chief to Greece Declan Costello, European Central Bank executives Benoit Coeure and Francesco Drudi, European Stability Mechanism (ESM) chief Klaus Regling and the IMF's Poul Thomsen and Delia Velculescu, mission chief for Greece.

    [08] Today's Eurogroup crucial for the Greek economy, says Alt. Economy Min. Charitsis

    Thursday is a crucial day for the Greek economy, Alternate Economy and Growth Minister Alexis Charitsis said speaking to the Athens Macedonian News Agency's radio "Praktoreio 104.9 FM".

    "We have gone through very crucial paths in the last year but today's Eurogroup will give us a picture on the progress towards the completion of the second review of the Greek programme," he noted.

    It is important that this issue closes and the Greek economy breathes after seven years of recession, said Charitsis adding that the way this issue will close is also important for the government. "It has nothing to do with our obsessions as the main opposition accuses us of but with the way we will return to the European acquis, how the labour relations will be restored and the primary surpluses after 2018," said Charitsis.

    Referring to the funds that have been created for the real economy, he noted that three of them will assist the enterprises, the construction sector and the start-up businesses so as to have access to liquidity through loans.

    Charitsis also announced that significant capitals will be offered to very small enterprises.

    Asked on Poul Thomsen's estimates for the unemployment in Greece, he said: "Fortunately, Mr.Thomsen's estimations have been proved wrong in the past."

    [09] The opportunity to close second review should not be missed today, EP Vice president Papadimoulis tells ANA

    The opportunity to close the second programme review on Thursday's Eurogroup meeting should not be missed, because Europe will get into a period of elections in many countries, the Vice President of the European Parliament Dimitris Papadimoulis said in statements to the Athens-Macedonian News Agency (ANA).

    "It is in nobody's interest Greece, which is a pylon of stability in southeastern Europe and bears a huge part of the burden of the refugees' crisis, to experience again the crisis of the summer 2015," he added.

    He also accused PASOK and Potami parties that they adopt a nihilistic rhetoric against SYRIZA.

    Moreover, he said that, as Vice President, will send immediately a letter to the new President of the European Parliament Antonio Tajani, asking him to make amends for the "unhistorical" statements he made about FYROM, a few months before assuming the office of the President.

    [10] S&D MEPs urge Eurogroup to conclude 2nd review of Greek programme

    BRUSSELS (ANA/ C. Vasilaki)

    The Socialist & Democrat Group in the European Parliament on Thursday issued an announcement urging Eurozone finance ministers to conclude the second review of the Greek bailout programme and "promptly open discussions on debt relief."

    "There is no more time to waste. Today's Eurogroup meeting should finally conclude the second review of the Greek programme. A quick and positive conclusion of this process should then open a prompt discussion on Greek debt relief and on which measures should be put in place to speed up growth and development," S&D group president Gianni Pittella was quoted as saying.

    "The S&D Group is called upon to denounce the unacceptable requests put forward by the International Monetary Fund (IMF) concerning the additional measures the Greek government should take in advance of the 2019 Budget.

    "There is an issue of legality and effectiveness. These inappropriate requests could negatively impact Greece's political stability and damage its economic prospects," he said.

    The head of the EP's Confederal Group of the European United Left - Nordic Green Left Gabi Zimmer similarly emphasised the need for a good result in Thursday's Eurogroup meeting in Brussels, in a written statement.

    The German MEP noted that Greece's creditors were asking the Greek people to accept more austerity and sacrifices in order to serve an unsustainable debt. There was an urgent need for a good result that would allow debt relief and give Greece real prospects, she said.

    [11] IMF still at odds with Germany, insists Greek programme is not sustainble, sources say

    Greece's debt will be discussed at an International Monetary Fund (IMF) executive committee meeting on February 6, reliable sources reported on Thursday, noting that the fund's political disagreement with Germany continues.

    The debt sustainability report to be presented at the meeting says that Greek debt can't be considered sustainable even if Greece adopts the fiscal path proposed by German Finance Minister Wolfgang Schaeuble, namely 3.5 pct of GDP primary surpluses for a 10-year period.

    On the basis of the information about the positions adopted in the report, the IMF appears to be preparing a final decision to not finance the Greek programme. IMF rules require that a country's debt should be considered sustainable by the fund in order for a loan to be given.

    The Fund's insistence on this position, on the one hand, and on the German Finance Ministry's adamant position, on the other hand, maintain the core of the political disagreement between the IMF and Germany for the period after the conclusion of the Greek programme. It is a matter the Greek government has repeatedly raised, while refuting accusations that it is responsible for delays in concluding the programme review.

    [12] Institutions examining IMF's conditions to participate in the Greek programme

    BRUSSELS (ANA/ M.Aroni)

    The institutions are currently examining the conditions the IMF will accept to finance the Greek programme ahead of the Eurogroup meeting that will start at 16:00 (Athens time) in Brussels.

    The full participation of the Fund in the Greek programme is a sine qua non for the continuation and conclusion of the second programme review.

    According to a eurozone official, there is a good chance that the institutions find "common ground" in order to return to Athens for the resumption of the programme review.

    The same official estimated that the Greek side will be in a position to agree on the issues that will be raised.

    The major issue to be examined is IMF's demand to legislate in advance measures after 2018 (measures that will be applied in case the 3.5 percent of GDP primary surplus target is not met). The European Commission does not agree with that demand and it will try to reach a compromise. Another matter that needs to be solved is the period that Greece needs to meet the 3.5 primary surplus target after 2018.

    If there is agreement on all the above mentioned issues as well as in labour, energy and fiscal matters, then the conclusion of the second programme review can be achieved by the Eurogroup on February 20 with the full participation of the IMF. The same officials reiterated that February is the last month that a solution can be found before the "long election period" starts in Europe.

    [13] IMF needs to see that Greek programme 'adds up', Murray tells press briefing

    "The requirements for the conclusion of the second review of the ESM programme are for the European partners to decide," International Monetary Fund spokesman William Murray said on Thursday, during a regular press briefing.

    While stating that the IMF remains "fully engaged" in the Greek programme, he also noted that the Fund needs "to see that the programme adds up" before it can recommend a potential Fund financing programme to its executive board for consideration.

    He confirmed that the IMF executive board will meet to discuss the Greek programme, including its debt sustainability analysis (DSA), on February 6 and repeated that there was no change in the IMF's views in terms of the sustainability of a Fund programme for Greece's debt."We've been pretty clear all along, my message to you on Greece in that regard is not going to change today," he said.

    Pressed further, he repeated that the IMF is "fully engaged with the Greeks and with the Commission in terms of the ESM programme and review," as announced after the meeting between IMF Managing Director Christine Lagarde and German Finance Minister Wolfgang Schaeuble in Davos.

    Murray declined to give any deadline for when an IMF decision on whether to finance the Greek programme could be expected, while refusing to speculate on the "implication of elections" in a number of European countries for the Greek programme. He said only that a decision remained a possibility, since the IMF was working in concert with Greeks and the Europeans partners to come to an agreement as soon as possible.

    He also repeated the IMF's position that Greece does "not need more austerity now and that the Fund can go along with the programme with a primary surplus target of 1.5 pct of GDP, consistent with the policies now underway and a commensurate debt relief."

    "But if Greece and its European partners decide on a higher primary surplus for a temporary period we would need to evaluate the policies that could credibly support that target," Murray added. He noted that there were a number of reforms that the IMF has articulated in the past, saying they were "long overdue and we think they would be necessary to support a higher target and to allow for a more equitable distribution of the burden of economic adjustment in Greece."

    "But any reforms in support of an ambitious medium-term fiscal target should be implemented only once the output gap closes to minimise the negative impact and get some early recovery in Greece," he said.

    [14] FM Kotzias reacts to EP president Tajani's statement

    "We live in times when some people write history in their own way," Foreign Minister Nikos Kotzias said on Thursday in Parliament, responding to statements made by the new European Parliament President Antonio Tajani referring to the Former Yugoslav Republic of Macedonia (FYROM) as 'Macedonia'.

    He informed a Parliamentary Committee discussing matters relating to the functioning of the foreign ministry that Alternate Foreign Minister George Katrougalos will be handling the matter and that SYRIZA MEP Dimitris Papadimoulis had already sent a written protest.

    "From [Prime Minister of Albania Edi] Rama who 'discovered' [that the Albanians saved] the Acropolis and that Ali Pasha was responsible for the revolution of 1821, to the new president of the European Parliament. History is a battlefield and should be used as a school to teach the mind, not as a prison to imprison it," he added.

    During a visit to the capital of the Former Yugoslav Republic of Macedonia (FYROM) last February when he was European Commissioner, Tajani referred to FYROM as 'Macedonia' and told an enthusiastic local audience that they were descendants of Alexander the Great and his father Philip.

    [15] 'Alexander the Great was a Greek' Tajani says, in response to furore in Greece

    "I am well acquainted with history. Alexander the Great was a Greek with ideas that contributed to the birth of Europe," the new European Parliament President Antonio Tajani commented in a post on his Twitter account on Thursday, written in Greek.

    An announcement issued by Tajani's office, meanwhile, noted that the European Parliament's standing position is that the internationally recognised name "Former Yugoslav Republic of Macedonia" is the only name the Parliament recognises for FYROM.

    A video of comments made by Tajani in 2016 during a visit to FYROM's capital Skopje, caused a furore in Greece on Thursday, prompting reactions from the Greek foreign minister and Greek MEP Dimitris Papadimoulis. Addressing a meeting in Skopje last February, Tajani had referred to FYROM as 'Macedonia' and told an enthusiastic audience that they were "descendants" of Alexander the Great and Philip II of Macedon.

    [16] Alt. FM Katrougalos meets with chief of Euroasian Economic Commission Sargsyan

    Alternate Foreign Minister George Katrougalos met on Thursday with the chairman of the board of the Euroasian Economic Commission Tigran Sargsyan.

    The meeting focused on issues referring to the relations between the European Union and the Euroasian Economic Union and the two officials exchanged views on the potential of regional economic cooperation in the future.

    Russia, Belarus, Kazakhstan, Armenia and Kyrgyzstan participate in the Euroasian Economic Union.

    [17] The Parliament will not vote for additional measures, Administrative Reconstruction Min says

    "There are no additional measures ... The Parliament will not vote for additional measures," Administrative Reconstruction Minister Olga Gerovassili said on Thursday in statements to SKAI TV.

    She underlined that the government has accepted the extension of the fiscal corrective mechanism for one year adding that the programme will be concluded in 2018 as all the targets will have been met.

    She cleared out that the measures of the next three years have been agreed and estimated that the second programme review has been delayed due the disagreement between the IMF and the Europeans.

    She underlined that the government has not raised the issue of the IMF participation adding that the government implements the agreement.

    Gerovassili ruled out the possibility of elections saying that "it is a devastating scenario for the country in the current period."

    [18] Greek Finance ministry begins widespread controls to combat tax evasion

    Greek Finance ministry is beginning widespread checks of electronic payment systems (POS) with the aim to protect consumers and to safeguard public interest, Deputy Finance Minister Katerina Papanatsiou said on Thursday.

    Speaking in Parliament, Papanatsiou said that inspection mechanisms were in full alert and all necessary instructions have been given to conduct spot prevention checks. The inspections seek to establish whether the controlled person engaged in economic activity has a POS payment receipt card machine, installed by a foreign payment services provider and requested quote evidence to establish the origin of the payment service provider.

    The issue raised by the MP of the Democratic Coalition party Vasilis Kegkeroglou, who, with timely question, pointed out that "there are fraud methods and the state need to shield transactions, so as not to break the confidence of consumers." Mr. Kegkeroglou also requested the government to arrange for the issue of excessive charges by banks on enterprises and consumers.

    The Deputy Finance Minister pointed out that under the existing institutional framework, the supplier is not entitled to impose charges to consumers for the use of the specific payment instrument. Therefore, additional charges in everyday transactions by electronic payment instruments are prohibited.

    Referring specifically to monitoring, Ms. Papanatsiou said that already, in collaboration with Economic Police, a company's clientele was under, after evidence found that the company was supplying Greek businesses with POS devices that were settling payment transactions in a foreign bank, while the contracts were signed after the imposition of capital controls, which was not allowed.

    On the question of bank charges, the Deputy Finance Minister stressed that commercial banks' pricing policy was formed based on the principles of free competition, within the limits of the social acquis.

    "In any case it is known that the collective market participants have signed agreements with financial institutions, which provide total commission significantly below 1%," Papanatsiou said.

    [19] FM Amanatidis stresses importance of ecclesiastical diplomacy

    Foreign Minister Yiannis Amanatidis on Thursday in state-ments to Alpha radio stressed the importance of interreligious and intercultural dialogue, as well as of ecclesiastical diplo-macy.

    "The ecclesiastical diplomacy can go where classic diplomacy cannot," he said and added: "We have worked hard on that direction and the results are apparent."

    Asked about the role of the Ecumenical Patriarchate and the Archdiocese, ahead of the visit of Mr. Bartholomew to the White House in the first ten days of March, the Deputy Foreign Minister noted that "there is a dynamic in relation to the protection of the Christian populations, in the region of Middle East, as efforts to protect the Christian populations and the monuments are being made."

    [20] Supreme Court refuses to extradite eight Turkish servicemen that fled to Greece

    The eight Turkish military servicemen that fled to Greece after the July coup are to be released and not extradited to Turkey, the Greek Supreme Court ruled on Thursday.

    The penal sections of the Supreme Court found that the possibility of trespassing on the rights of the individuals involved, regardless of their degree of guilt or the seriousness of their offences, did not allow the implementation of extradition measures, which were superseded by the greater importance of rules protecting human rights.

    The eight servicement arrived in the northern Greek city of Alexandroupolis in a Turkish military helicopter on the night of the failed coup in Turkey last July, seeking refuge in Greece.

    Commenting on the decision, main opposition New Democracy MP and shadow minister for justice Nikos Panagiotopoulos said the court had ruled "on the basis of the laws and legal framework of our country and the values and principles of a state of law, keeping the country's prestige high."

    The lawyers representing the eight Turkish servicemen greeted the decision as a "great triumph for European values and Greek justice" and showed that "justice can be a bright hope for the future when it is allowed to act independently".

    [21] Prosecutor to request release of Turkish army officers; decision up to the police director

    Extraditions prosecutor Maria Malouhou will request the release of the eight Turkish military officers who remain detained after the Supreme Court rejected Turkey's extradition request earlier on Thursday.

    The decision will be made by the relevant police director who will have to take into consideration Greek asylum law, which states that the detention of asylum seekers could last for 18 months, if there are reasons of national interest or personal safety of the applicants. In the case of "Turkey's 8", the procedure is still pending.

    According to information, the police director has requested a six-month detention for the Turkish officers, three of which they have already served.

    [22] Greek parties hail Supreme Court's decision to refuse extradition of Turkish army officers

    Greek parties unanimously hailed the ruling of the Supreme Court on Thursday to reject an extradition request issued by Turkey for eight army officers who fled to Greece after the failed coup attempt last July, saying the rule of law has been upheld.

    "Greece has laws, there's full respect for the separation of powers and complies with all international agreements signed by the Greek state. The Supreme Court decided on the basis of those principles," SYRIZA said in a press release, commenting on the decision.

    New Democracy's shadow justice minister Nikos Panagiotopoulos said the ruling was based on Greece's laws "upholding the country's prestige" and proved "the respect to European law and values, a cornerstone of which is the European Convention on Human Rights."

    "The Supreme Court ruling rightly takes into consideration the scope of protection of the asylum seeking Turkish officers," the Communist Party said. "From the first moment, the Communist Party argued that it is required to respect laws guaranteeing the rights of asulym seekers," it added.

    The Democratic Coalition (DIMAR) said the decision shows Greece "does not trade human lives, national and international rules, values and principles. The rule of law and respect for human rights is above any expediency".

    Potami said the top court took a "brave and fair decision" not to extradite the officers and didn't "bulk" under the pressures of diplomacy. "It operated taking primarily into consideration the human value and human rights that underpin the European legal culture and Greek laws," it said.

    On the same issue, the Centrists' Union MP Marios Georgiadis said the ruling confirms the independence of Greek Justice "which respects international law and human rights."

    [23] Turkey reacts angrily to Greek court's decision on extradition request

    ISTANBUL (ANA/A. Rombopoulos)

    The Turkish foreign ministry said on Thursday it will use "all legal instruments" against the decision of the Greek Supreme Court which rejected on Thursday an extradition request made by the country for eight Turkish army officers, acccording to a statement issued a few hours after the ruling was announced.

    The ministry also accused Greek authorities of "not fulfilling minimum requirements" in combatting terrorism.

    "We protest this judgment which prevents these individuals who actively participated in the coup attempt which targeted the democratic order in Turkey, killed 248 members of our security forces and civilians, wounded 2193 of our citizens and attempted against the life of our President, to be brought before the independent Turkish judiciary," the foreign ministry's statement reads.

    "The Greek authorities who until today have obstructed the members of the terrorist organisations, primarily the DHKP/C and PKK that have targeted Turkey to be held accountable in front of the justice, have with this decision once more displayed that Greece, an ally and a neighbouring country, refrains from fulfilling the minimum requirements of combatting terrorism and crime. [...] Our undertakings for the extradition and trial of the perpetrators, by using all legal instruments against this decision of the Greek judiciary, will continue. The implications on our bilateral relations, our cooperation against terrorism and other common cooperation in bilateral/multilateral matters of this decision, which we consider has been taken for political motives, will also be comprehensively evaluated," it added.

    [24] Parliament head meets Israeli president during official visit

    Parliament President Nikos Voutsis met with Israel's President Reuven Rivlin on Thursday to discuss bilateral relations, on the third day of his official visit to Israel.

    During the meeting, Reuven said Israel's relations with Greece and Cyprus can form an important triangle of cooperation. Commenting on Greece's economic crisis, he said in its beginning nobody believed Greece would be able to make such important steps to exit the crisis, adding that the country's efforts are an example for all democracies in the world.

    Concerning Greek-Israeli relations, he said "now is the time when we must consolidate relationships of trust with the Palestinians," noting that any agreement achieved could not succeed without trust and peaceful living for both sides.

    On his side, Voutsis said it is particularly important that Greece and Israel had improved relations over the last two years. Concerning the Middle East conflict, he reiterated the EU and Greece's view for the existence of two separate states, as well as the point that the policy of settlement expansion is jeopardizes efforts to find a solution.

    [25] ND leader Mitsotakis pays tribute to the victims of the Holocaust

    Main opposition New Democracy (ND) leader Kyriakos Mitso-takis, with a post on Facebook, on Thursday, paid tribute to the victims of the Holocaust.

    It is an unimaginable brutality that led to the mass extermination of the Jewish population of Europe and the decimation of the once thriving, Greek Jewish community, he said.

    "Never again!" he stressed and added: "It is a day of reflection and prayer as the ghost of populism - which is expressed through a a racist, xenophobic rhetoric - is threatening once again our world."

    "The multilevel crisis, that we all experience, is not confined to the economic and political system. But it extends to our values. Several people across the world - and I am not only referring to the Western world - tend to listen to divisive rhetoric, oversimplifications and "quick fixes" and are looking for new scapegoats. I hope that this day will give everyone the opportunity to seriously and responsibly consider what kind of world we want for ourselves and our children," he concluded.

    [26] Greek police officials meet Afghan officials to discuss migration, return of nationals

    High-level officials of the Greek police met with top Afghan officials to discuss the management of Afghan migrants living in the country and the return of those whose asylum application will be rejected, in a meeting which is significant in the management of migration, the citizen protection ministry said on Thursday.

    According to information, the Afghan government is preparing to open a diplomatic mission in Athens, which will greatly facilitate Greece's efforts to return failed asylum seekers. The country currently only has diplomatic missions in Brussels and Sofia.

    The Afghan delegation was headed by the Director General of Consular Affairs of the Ministry of Foreign Affairs, Mirwais Samadi, while the Greek side was headed by Lieutenant General Zacharoula Tsirigoti, who is Head of Immigration and Border Protection Division.

    The foreign dignitaries were briefed about the number of Afghan migrants residing on the islands and mainland Greece and then both sides suggested ways to manage issues that arise from their residence in the country and the procedure to return irregular migrants.

    Financial News

    [27] Greek economy to grow by 1.5-2.0 pct this year, IOBE report

    The Greek economy is expected to grow by 1.5 - 2.0 pct this year, the Foundation of Industrial and Economic Research (IOBE) said in its latest quarterly report on the Greek economy, released on Thursday.

    IOBE said a budget target for a growth rate of around 3.0 pct this year was "very doubtful" and noted that a growth rate of around 1.5-2.0 pct "was not an insignificant level".

    The report noted that several of the economy's functions were gradually recovering after the hit suffered in the summer of 2015. A recovery should not surprise anyone, while reforms in the labour and product markets contribute positively, although with a delay.

    Strengthening of electronic payment means in the market is boosting GDP, along with tax revenue and reduces non-registered activity. "However, this positive reaction of the economy should not be misinterpreted of ensuring a course of sustainable growth in the medium-term," IOBE said.

    The report noted that the Greek economy, "although severely wounded, has not fallen below the level of Eurozone entrance and retains positive prospects. A new round of growth is feasible, but it cannot start automatically, as access to external capital will be limited. It needs a very clear political sign and social support. Then a significant increase in investments and a reversal of negative expectations will be visible".

    IOBE said the country needed a stable economic policy based on a credible direction without doubts for any possible deviations and warned that any delay in clearing the terms of economic growth created additional cost and risk on three issues: protecting those suffering from a drastic reduction in income, property and their living standards by creating a protection plan, raising the quality of health and education services. Secondly, uncertainty was freezing investment decisions and thirdly, the Greek crisis is evolving within a volatile and obscure European and international environment. Greece cannot afford to show a wait-and-see attitude towards any attempt to accelerate and deepen common policies in Europe (fiscal and banking).

    [28] Greek insurance industry faces challenges in 2017

    Four key challenges are facing the Greek insurance industry this year, a KPMG survey on the course of private insurance enterprises in the country showed.

    Philippos Kassos, General Director of Insurance Companies Audit Department of KPMG, commenting on the results said that technology, the change of business model, risk management and supervision as well as customers and distribution channels are key challenges for the sector.

    The survey said that: "Insurers seek to switch to technology platforms that enable the development and cost reduction. The main objective is a strong data architecture that supports data analysis functions (data analytics) thus enhancing companies to improve product development, sales and customer service. Regarding the business model of the insurance business, it is clear that the traditional form was disrupted by new players in the market. The new, innovative approach is changing customer preferences and challenges the macroeconomic environment. The risk management and supervision will be crucial, as insurers, because of the limitations that exist, can not implement business ideas in real time. Finally, changing customer demands for interaction on transactions, create a new generation of insurers which seeks to offer exceptional customer experience using new, innovative approaches."

    Some of the major findings of the KPMG survey are the following:

    - A significant and continuous drop in premium production and especially in the car insurance sector.

    - The profitability of the business continued to be very satisfactory with a profit before taxes on average at 17 million euros.

    - Traffic accidents continue falling for another year, however at a slower pace, keeping the accident frequency index low.

    - The loss ratio in the car insurance sector shows signs of stabilization at historically low levels.

    - The new solvency framework that directly links taking new risks with the efficiency and maintaining high capital adequacy, is leading companies to stable and safe paths on policies for new production, avoid guarantees, and complex products usually bring higher capital requirements.

    [29] TD Asset Management owns a 5.24 pct equity stake in Bank of Cyprus

    Canadian company TD Asset Management Inc, based in Toronto, owns 446.2 million shares in Bank of Cyprus, or 5.24 pct of the bank's equity capital.

    The Bank of Cyprus, in an announcement to the stock exchanges of London and Cyprus, announced four large shareholders, which own more than 3.0 pct of its equity capital each, an optimistic trend over the inflow of new capital and participations in the bank's equity capital.

    Lamesa Holding SA, listed in Panama, owns 41,378,235 shares in the Bank of Cyprus, or 9.2735 pct of the bank's equity capital, while the European Bank for Reconstruction and Development owns 22,401,744 shares or 5.02 pct of its equity capital.

    Osome Investments Ltd, listed in the UK Virgin Islands owns 14,809,498 shares or 3.3190 pct, while Tyrus Capital SAM, listed in Monaco owns 15,461,831 shares or 3.465 pct of the bank's equity capital.

    The former Popular Bank of Cyprus also owns a 9.62 pct equity stake in the Bank of Cyprus.

    [30] Eurobank-New Post Savings Bank merger a landmark decision

    "The inclusion of New Post Savings Bank to Eurobank Group was a landmark, beyond economic figures. The two organizations' cultures were very different and at the same time fully complementary. The thread that united us and made the meeting of two different organizations creataive was a timeless commitment to exploit and integrate into one single organization, the comparataive advantages of the two organizations, with respect to the needs of our customer and savers and recognizing the role and importance of human resources in its development," Nikolaos Karamouzis, chairman of Eurobank said, addressing an event to present a photographic album on Post Savings Bank

    The Greek banker underlined the significance of Eurobank's historic records expressing his confidence that "only organizations reflecting back in their history are able to successfully deal with present and future challenges".

    The almbut includes rare material, texts, pictures and old photographs, pupil essays on saving, diaries, posters and other historic staff from Post Savings Bank. It also includes a historic record of Greek and international facts, combined with the activities of the bank.

    [31] BAT Hellas begins Job Center initiative in Greece

    British American Tobacco Hellas, in cooperation with the municipality of Athens, began operation of a job center in Athens -the first such initiative in Greece- with the aim to return vulnerable social groups back to the labour market.

    A total of 15 citizens passed through interviews in the first week of operation of the job center. The Job Center offers a significant number of job positions and services including private meetings with specialists on humar resources and psychology issues, psycho-social support groups, vocational training laboratories in cooperation with possible employers, employment agencies and social agencies.

    "The start of the Job Center signals the beginning of this new mechanism with international standards aimed to combat unemployment and will offer not only consultancy services, but will link participants with the labour market. Beyond the value we give to all our activities daily, we though it was necessary to contribute in efforts to deal with one of the biggest problems facing the country, offering this model tool," Stefanos Dianellos, corporate relations manager in BAT Hellas said on Thursday.

    BAT Hellas is one of teh top companies in the Greek tobacco market. It belongs to BAT plc, an international group operating more than 100 years, employing more than 50,000 workers and offers a product range of more than 200 commercial brands, distributed to more than 200 markets.

    [32] Piraeus Bank lowers equity stake in Trastor to 39.4 pct

    Piraeus Bank on Thursday announced that following an agreement reached with Wert Red Sarl in June 2016 for the sale of an equity stake it held in Trastor AEEAP and following a share capital increase - without the participation of the bank - its equity stake in Trastor fell to 39.4 pct from 57.9 pct.

    Wert Red is based in Luxembourg and is owned by Varde Partners. Varde Partners is an international capital management company with a portfolio of 12 billion US dollars, focusing on credit and value creations, through investing in different geographical regions and different assets, such as real estate, corporate loans, mortgage loans, specialized funding, transport and infrastructure.

    [33] Greek competition authority approves Sklavenitis-Marinopoulos deal

    Greece's competition authority on Thursday approved the acquisition of Marinopoulos' supermarket stores by Sklavenitis, under conditions known to the public for the last two weeks. As a precondition for approving the deal, the authority required Sklavenitis Group to implement a series of commitments, such as liquidating 22 stores and to maintain for a transition period of three years and under conditions all commercial partnership agreements signed between Marinopoulos and small local suppliers.

    The authority said that these structural measures were "adequate, appropriate and proportional" for ensuring conditi-ons of efficient competition in the supermarket sector on a local level and in the procurement market in Greece.

    [34] Nissan sales up 12 pct in Greece last year

    Nissan sales grew 12 pct in Greece last year, totaing 7,289 new passenger cars, compared with 2015," Marios Barkis, retail manager in Nissan Nik. I. Theoharakis SA told ANA on Thursday.

    "2016 was an exceptional year for Nissan, with the company ranking sector in the Greek market with a market share of 9.2 pct," Barkis said, adding that the company expected this year's sales to grow further.

    The company will launch the new Nissan Micra in a few years in Greece, revolutiolizing customers' expectations for a reliable car in the B category, introducing a unique mixture of impressive design, new technology with a strong feeling of self-confidence, flexibility and performance and bold colour variety. "Particularly in Greece, the new Micra is "destined" to dominate in its category, especially if we take in view the extraordinary success of its predecessor," Barkis said.

    He noted that the Greek car market has suffered huge losses in the last seven years, although the market's negative trend was halted in 2013, presenting a progressive, stable growth trend in the coming years. "In my opinion, this trend will continue on the condition that the country's economic environment will keep on moving on a stable course," Barkis said.

    [35] South Aegean awarded European Region of Gastronomy 2019

    South Aegean was awarded "European Region of Gastronomy 2019" promoting Greece, the Aegean and the Greek tourism at an international level.

    South Aegean received the 2019 title for its commitment to food and cultural diversity. A special ceremony took place at the Grande Bretagne Hotel in Athens.

    The Master of Ceremonies was the acclaimed food journalist Geoge Papachristos, who gave the floor to the Governor of the South Aegean, George Hatzimarkos, who welcomed everyone to the event hosted by the region.

    The European Region of Gastronomy Platform and Award aim to contribute to better quality of life in European regions, by highlighting distinctive food cultures, educating for better health and sustainability and stimulating gastronomic innovation.

    IGCAT (International Institute of Gastronomy, Culture, Arts and Tourism) organises the award with the support of European institutions.

    [36] Greek stocks edge higher

    Greek stocks edged higher in the Athens Stock Exchange with investors on the sidelines and awaiting news from a crucial Eurogroup meeting in Brussels. The composite index rose 0.21 pct to end at 660.59 points, off the day's highs of 664.61points. The Large Cap index rose 0.51 pct and the Mid Cap index ended 0.25 pct lower. Turnover fell to 52.191 million euros in volume of 76,651,101 shares.

    Jumbo (3.67 pct), Coca Cola HBC (1.90 pct) and Titan (1.49 pct) scored the biggest percentage gains of the day among blue chip stocks, while Piraeus Bank (3.65 pct), Hellenic Petroleum (1.95 pct) and PPC (1.74 pct) suffered heavy losses.

    Among market sectors, Personal Products (3.24 pct) and Food (1.90 pct) scored big gains, while Raw Materials (1.66 pct) and Financial Services (0.92 pct) suffered losses. Piraeus Bank and National Bank were the most heavily traded securities of the day. Broadly, advancers led decliners by 63 to 48 with another 16 issues unchanged. Kreka (19.67 pct), Athina (19.56 pct) and Sato (15.94 pct) were top gainers, while Progressive (19.35 pct), Pasal (18 pct) and Unibios (9.48 pct) were top losers.

    [37] Greek bond market closing report

    The yield spread between the 10-year Greek and German benchmark bonds eased further to 6.37 pct in the domestic electronic secondary bond market on Thursday, from 6.46 pct on Wednesday, taking advantage of a rising trend in European bond yields. The Greek bond yielded 6.85 pct and the German Bund yielding 0.48 pct. There was no turnover in the market.

    In interbank markets, interest rates largely unchanged. The 12-month rate was -0.102 pct, the nine-month rate rose to -0.157 pct from -0.159 pct, the six-month rate was -0.241 pct, the three-month rate was -0.329 pct and the one-month rate was -0.372 pct.

    [38] ADEX closing report

    The February contract on the FTSE/ASE Large Cap index was trading at a premium of 0.10 pct in the Athens Derivatives Exchange on Thursday. Volume on the Big Cap index totaled 1,798 contracts with 7,765 open positions in the market. Volume in futures contracts on equities totaled 47,246 contracts with investment interest focusing on Piraeus Bank's contracts (14,507), followed by Alpha Bank (6,761), National Bank (14,507), Eurobank (9,050), MIG (1,653), OTE (105), PPC (50), OPAP (450), Viohalco (228), Mytilineos (662), Hellenic Petroleum (224), Ellaktor (138), Jumbo (80) and Folli Follie (46).

    General News

    [39] Yacht with migrants and refugees towed to Gerolimenas port

    A yacht with migrants and refugees that was located on Thursday after a rescue operation in the sea region of Gerolimenas, Lakonia, is towed by a freighter to the port of Gerolimenas.

    [40] Farmers block Corinth-Patra highway for two hours

    Farmers in Egialia on Thursday blocked the Corinth-Patras national highway near Egio for a period of two hours, starting at 18:15. Traffic will be diverted onto the old national road during that time.

    [41] Four-hour work stoppage at the metro on Friday

    Athens will not have a metro service for four hours on Friday due to a work stoppage called by the drivers' union which is holding a general meeting. Lines 2 and 3 will remain closed from noon until four in the afternoon (12:00-16:00).

    Weather forecast

    [42] Sleet, snow on Friday

    Snow, sleet and northeasterly winds are forecast for Friday. Wind velocity will reach 6 on the Beaufort scale. Partly cloudy with a chance of snowfall in the northern parts of the country with temperatures ranging from -07C to 04C. Rain and snow in the mountainous and semi mountainous area of the western parts and temperatures between 03C and 12C. Sleet or snow in the eastern parts with temperatures between 01C and 07C. Sleet over the Aegean islands and Crete, 03C-11C. Sleet in Athens, 01C-06C. Clouds and snowfall in the morning in Thessaloniki, -04C-04C.

    [43] The Thursday edition of Athens dailies

    DIMOKRATIA: Pressure from the IMF

    ETHNOS: 120 new Citizens' Service Centres (KEP) for bad loans

    ELEFTHEROS TYPOS: Wealth registry ... without assets

    ESTIA: Trump and the New York-Athens flight

    AVGHI: Focus on the Eurogroup

    EFIMERIDA TON SYNTAKTON: Critical Eurogroup

    KATHIMERINI: The 2015 nightmare is back

    TO PONTIKI: The three steps - February, July, September

    IMERISSIA: Positive signal from Wall Street

    NAFTEMPORIKI: Hostages of uncertainty

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