May 17, 1953

PAGE RESTRICTIONS: Statement: The Greek press, as a result of the recent doubling of the foreign exchange rate due to the drachma’s revaluation, is facing serious financial problems. Of its total expenditure on each edition, almost 45-60 percent represents foreign exchange obligations for newsprint, materials and spare parts for printing presses, telegraphing, photographs, subscriptions to foreign news agencies, articles by foreign associates, as well as foreign correspondents’ salaries, among other things. In addition, any increase in the inflation rate has an immediate effect on the newspapers’ budgets, given that workers in the sector have the right, in accordance with their collective labor agreements, to receive salary adjustments commensurate with changes in the inflation rate (…). In anticipation of solutions to be decided upon by the (Papagos) government and given the pressure created by the current, continuing deadlock, the following Athenian daily newspapers consider it their obligation to inform the public of the issue and to restrict costs by reducing the number of pages (…) – Kathimerini, Athinaiki, Akropolis, Apogevmatini, Avghi, To Vima, Vradyni, Ethnikos Kiryx, Ethnos, Eleftheria, Eleftheros Logos, Embros, Estia, Ta Nea, Proodeftiki Allaghi, Proodeftikos Phileleftheros. SEFERIS: Asia Minor Studies Center Publications has just released «Three Days in the Monasteries of Cappadocia» by George Seferis, Athens, 1953.