- Greece: The Greek Telecommunications and Transport Minister has announced the creation of OLYMPIC AIRLINES, a new airline to replace OLYMPIC AIRWAYS, which is over-indebted. In 2002, the losses suffered by OLYMPIC AIRWAYS were between EUR 3 and 4 million compared to 144 million in 2001. In parallel, the finance minister announced that three Greek banks have begun negotiations with potential buyers for privatising a new company in the aim of using the funds raised to cover its debt. The...