In Brief
Commission opinion over directive on professional qualifications The European Commission yesterday sent 11 member states, including Greece, a considered opinion – the last stage before referral to the European Court – regarding incomplete implementation of Community legislation on the recognition of professional qualifications. The Commission argues that the 11, including Luxembourg, Germany, Italy, the UK, Portugal, Spain, the Netherlands, Austria, Ireland and Finland, did not inform it, as they must, on procedures for implementing Directive 1999/42/EC regarding qualifications for certain industrial and commercial activities by the deadline of July 31, 2001. ECB policy council endorses Papademos FRANKFURT – The European Central Bank’s policy-making council yesterday endorsed Greek central bank chief Lucas Papademos for the post of ECB vice president starting in June. The endorsement was another step in the vetting process for Papademos, who will also have to testify before the European Parliament’s Economic and Monetary Affairs Committee (EMAC) in Brussels on April 22. The committee will vote on April 23. Asset management The Commercial Bank of Greece and France’s Credit Agricole Asset Management (CAAM) yesterday presented their first joint venture, Commercial Asset Management, in which the Greek bank holds a controlling interest of 80 percent. The new company will offer portfolio management services to pension funds, institutional investors and public enterprises. Carrier sues parent Olympic Airways is to claim compensation of 6 million euros from the State for the failure of administrative courts to issue a ruling before yesterday’s 24-hour partial strike by staff, against which the company had filed for an injunction. The strike, which the company had asked to be declared illegal and abusive, was in solidarity with labor centers against the government’s social security reform proposals. The ruling, which granted the injunction, was issued at 11 a. m. yesterday when the strike was already in progress. The carrier made only one flight per destination. TVX license Deputy Development Minister Alexandros Kalafatis said in Parliament yesterday the operating license granted earlier this year to TVX Hellas for the basic metals mine in Stratoniki, Halkidiki was completely in order and there was no reason to withdraw it. He was responding to a question by Communist Party deputy Angelos Tzekis, who claimed that local residents still opposed the operation of the mine as dangerous and «a robbery» under the village, and estimated work will last for only 10 years instead of being a long-term development. Shipping finance The Bank of Greece yesterday announced approval of a license for Aegean Baltic (AB) Bank, which will concentrate its activities on shipping finance, especially syndicated loans and investment banking services, said a press release. AB’s paid-up capital is 18 million euros and LB Kiel bank has a controlling interest of 51 percent. AB Bank will begin operations in August.
