Athens News Agency: News in English, 00-09-01

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

CONTENTS

[01] TIF - PM

[02] Simitis- PASOK -Anniversary

[03] France-Greek FM-Statements-Turkey-Cem

[04] Foreign Exchange Rates-Monday

[05] Weather Forecast-Saturday

[06] Fitco SA-ASE listing

[07] Greece-bond auction

[08] ASE-close

[01] TIF - PM

Greece's scheduled entry to European Economic and Monetary Union (EMU) on January 1, 2001, is a milestone marking the end of the political era ushered in by the fall of the dictatorship in 1974, and a new beginning, Prime Minister Costas Simitis said on Friday.

"The country has come a long way from the fall of the dictatorship to the present full functioning of democratic institutions and economic stability ... EMU is not the end of the road but a milestone from which we start to break new ground," he said in his inaugural address at this year's 65th Thessaloniki International Trade Fair (TIF).

Simitis said a lot more remains to be done, as the country needs a more competitive economy and an updgrading of its infrastructure to meet modern requirements, but, above all, bringing down unemployment and promoting efficiency, quality of services and procedures friendly to the citizen, in education and health.

Referring to the Olympic Games of 2004, which will take place in Athens, Simitis said the challenge was not merely technical but demanded the impeccable organization of a global event and the development of modern Greece before the eyes of the world.

[02] Simitis- PASOK -Anniversary

The ruling PASOK party has contributed to the changes Greek society has undergone over the past 26 years since its establishment on Sept. 3rd, 1974, party President and Prime Minister Costas Simitis noted in a statement issued on Friday.

?On Sunday Sept. 3rd 26 years will have been completed since the birth of PASOK. Twenty-six years of hard struggles, everyday action and great contribution to the people and the country,? Simitis said.

?The establishment of PASOK by its late president and our leader Andreas Papandreou sealed the course and history of this land. It overturned the political status quo of the pre-dictatorship period, it made an essential break with the political life of the country and embraced the wider political spectrum of the progressive forces.?

?PASOK, in its 26 years, contributed to changing Greeces shape. It created new ideological orientations, it established new social priorities and delineated the course for changes in Greek society, which it achieved,? he added.

?The struggle for the transformation of society begun in 1974 and continues today and tomorrow. The reforms and changes have led to a considerable modernisation of our economy and society, mainly aiming at the creation of a modern and viable social state in combatting unemployment, upgrading education, healthcare, public administration and life in rural areas and the city.

[03] France-Greek FM-Statements-Turkey-Cem

EVIAN, France (ANA - M. Spinthourakis) - Greek Foreign Minister George Papandreou on Friday reiterated Greece's steadfast positions in response to statements made by his Turkish counterpart Ismail Cem in Ankara.

Papandreou, who arrived here early Friday afternoon to attend an informal European Union Foreign Ministers' meeting over the weekend, said that Greece always supports dialogue and the political resolution of differences through peaceful means as prescribed by the United Nations Charter.

Papandreou said that the Greek government, like any other government in the world, has no intention of negotiating the country's sovereign rights.

[04] Foreign Exchange Rates-Monday

Indicative foreign exchange rates released by the central bank for the next working day.

Mondays rates (buying)

Euro 334.850

U.S. dollar 376.583

German mark 171.206

French franc 051.047

[05] Weather Forecast-Saturday

Sunshine is forecast in many parts of the country on Saturday, turning to scattered cloud in the west, north and eastern Aegean islands.

[06] Fitco SA-ASE listing

Fitco SA, a member of Viohalco Group, will seek listing on the Athens Stock Exchange's smaller capitalisation market following an approval of its application by the Capital Market's Committee on Thurday.

The company plans a share capital increase through a public offering. The new capital will be used to fund its investment programme.

Fitco reported a turnover of 4.668 billion drachmas and pre-tax profits of 395 million drachmas in 1999 and expects this year's figures to reach 5.144 billion and 559 million drachmas, respectively.

The company exports copper and aluminium products in the European Union, the US, Canada, Asia and Africa. Exports accounted for 58 percent of the company's turnover in 1999.

[07] Greece-bond auction

Greece's Public Debt Management Organisation will auction a five-year state bond issue, in paperless form, worth 200 billion drachmas next Tuesday, September 5.

The bond, paying an annual coupon of 5.95 percent, is a re-opening of an earlier issue dated March 24, 2005.

Settlement date was set Friday, September 8.

[08] ASE-close

Equity prices ended higher on Friday extending their previous day's rebound on the Athens Stock Exchange and pushing the general index back above the 3,600 level.

The general index ended 1.26 percent higher to 3,601.99 points, off the day's highs of 3,644.82 as a wave of profit taking took some steam off the market during the last half-hour of trading. It ended the week with a net loss of 0.80 percent.

Turnover was steady at 101 billion drachmas.

The FTSE/ASE 20 index for blue chip and heavy traded stocks ended at 2,041.24 points, up 1.55 percent, and the FTSE/ASE 40 index fell 0.12 percent to 490.63 points.

The parallel market index for smaller capitalisation stocks ended at 604.46 points, off 1.56 percent.

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