Athens News Agency: News in English, 02-04-30

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

CONTENTS

[01] Banks to stage 48-hour strike on May 8-9

[02] Foreign Exchange Rates - Wednesday

[03] Weather Forecast: Mostly sunny on Wednesday

[04] Bank of Greece report shows jump in consumer credit growth

[05] Greek economic growth to top 3.8 percent, Christodoulakis says

[06] Smoldering crisis in Kosovo, FYROM, premier ascertains

[07] ASE ends lower on late profit taking

[01] Banks to stage 48-hour strike on May 8-9

Banks are to stage a 48-hour strike on May 8-9 following a deadlock with employers in pay talks for 2002, union officials said on Tuesday.

Banks will therefore be closed for seven days due to Orthodox Good Friday, the Easter weekend, Easter Monday, the transferred May Day holiday on May 7, and then the two-day strike.

[02] Foreign Exchange Rates - Wednesday

Indicative tourist buying rates per euro

U.S. dollar 0.908

Pound sterling 0.623

Danish kroner 7.493

Swedish kroner 9.328

Japanese yen 116.5

Swiss franc 1.473

Norwegian kroner 7.633

Cyprus pound 0.583

Canadian dollar 1.423

Australian dollar 1.690

[03] Weather Forecast: Mostly sunny on Wednesday

The day will be sunny in all parts of the country. Winds variable, light to moderate. On the the mainland, temperatures will range from 12C to 28C; and in the islands from 13C to 25C. Sunshine in Athens, with temperatures between 13C and 28C. Same in Thessaloniki, with temperatures from 10C to 25C.

[04] Bank of Greece report shows jump in consumer credit growth

The Bank of Greece expressed its concern over growth rates in the consumer and housing credit market, a trend directly affecting the quality of banks' loan portfolios.

In its annual report for 2001, the central bank said that households' loans accounted for 46.8 percent of total credit expansion last year, up from 34.6 percent in 2000.

The Bank of Greece urged for more transparency in the domestic consumer credit market to have a more effective management of credit risks by banks and to lead to lower interest rates. The report said that ''Theresias'', a bank information system, was expected to contribute significantly in providing more transparency to the market.

[05] Greek economic growth to top 3.8 percent, Christodoulakis says

Greek economic growth ''should exceed 3.8 percent'' this year, Economy and Finance Minister Nikos Christodoulakis said on Tuesday.

Speaking to reporters, after a meeting with Prime Minister Costas Simitis, Mr Christodoulakis said that a Third Community Support Framework was a lever of growth for the Greek economy.

The meeting discussed measures to support business activity in the country and to accelerate procedures in public works.

[06] Smoldering crisis in Kosovo, FYROM, premier ascertains

There was a crisis smoldering in Kosovo and FYROM, prime minister Costas Simitis said Tuesday.

During a meeting with President Costis Stephanopoulos, the premier briefed Stephanopoulos on his recent tour of Balkan capitals and his forthcoming visit to Belgrade, noting that all the Balkan countries wished to join the European Union.

Although that was difficult, Simitis said, ''they must not be discouraged'', adding that if their joining the EU would not be feasible in the near future, those countries shgould be given a ''safe timetable''.

''They must themselves also try to adapt to the acquis communautaire, which is hard,'' Simitis said, citing a smoldering crisis in Kosovo and FYROM.

[07] ASE ends lower on late profit taking

Greek stocks ended Tuesday's sessions lower, as a wave of profit taking late at the session reversed an early rally of prices in the Athens Stock Exchange.

The general index fell 0.43 percent to end at 2,218.35 points, after hitting 2,238.80 points early in the session, with turnover a moderate 88 million euros.

The IT and Bank sectors were the only ones to score gains (0.07 percent and 0.06 percent, respectively), while the Textile, Retail and IT Solution sectors suffered the heaviest percentage losses (2.97 percent, 2.31 percent and 1.42 percent).

The FTSE/ASE 20 index for blue chip and heavy traded stocks fell 0.26 percent, the FTSE/ASE MID 40 index eased 0.74 percent and the FTSE/ASE SmallCap 80 index eased 1.18 percent.

Broadly, decliners led advancers by 242 to 71 with another 45 issues unchanged.

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