May 24, 1955

SOCIAL POLICY: The labor minister, Mr Andreas Stratos, is to lay the foundation stone this morning for a complex of 11 apartment buildings in the district of Nea Philadelphia for worker housing. Each building will consist of 18 apartments, each with three main rooms, a kitchen and other auxiliary space. The cost of each apartment, including the cost of the land, is estimated at 60,000 drachmas, to be paid off by the owners in 30 annual interest-free installments. The average installment will be 150-200 drachmas a month. A total of 700 apartments will be built on the land, which has been bought by the Workers’s Housing Organization. There are also plans for stores, a market, a school and church on the site. STOCK EXCHANGE: Yesterday morning the coordination minister, Mr Papaligouras, met with Mr Diamantikou, who has just resigned as president of the Athens Stock Exchange (ASE). Mr Papaligouras said after the meeting that the resignation of the board of the ASE was an internal matter in which the government had no involvement whatsoever.