Athens News Agency: Daily News Bulletin in English, 97-06-12
From: The Greek Press & Information Office, Ottawa Canada <grnewsca@sympatico.ca>
ATHENS NEWS AGENCY BULLETIN (No 1210), June 12, 1997
Greek Press & Information Office
Ottawa, Canada
E-Mail Address: grnewsca@sympatico.ca
CONTENTS
[01] Parliament approves Schengen treaty amidst protests
[02] Two police officers join protesters' ranks
[03] Simitis opens Parliamentary debate on Constitutional revision
[04] Tsohatzopoulos holds talks with Belgian counterpart
[05] Stephanopoulos briefed by Simitis
[06] Pangalos confers with Albania's Sehu
[07] Visit with Kaklamanis
[08] Simitis to meet Albanian socialist leader Nano tonight
[09] Greek consulate in Gjirokaster fired upon again
[10] Gov't on Holbrooke
[11] Kranidiotis, Hannay confer on Cyprus
[12] G. Papandreou briefs KKE, Coalition on IGC issues
[13] No early elections, Gov't says
[14] Victoria PM to ask for genuine antiquities for museum
[15] US Gov't offers reward for information on terrorism
[16] Poll results favoring ND 'expected', Gov't notes
[17] Two European Social Fund decisions related to Greece
[18] CoE committee against torture visits several sites in Greece
[19] Patriarch of Alexandria concludes visit to Patriarchate
[20] Stolen manuscript to return to Mount Athos
[21] OSE, Nat'l Road Fund demand compensation from protesting farmers
[22] OTE launches public offering of 45 mln. shares
[23] ATE offers OTE shares loans
[24] Greek stocks end sharply up on state telecom buying spree
[25] Finance ministry to take action on Dr 1.67 trillion tax debt
[26] Income tax settlement proceeds slower
[27] Greece would welcome relaxed Maastricht criteria
[28] Santer comments on Greek request for revised Maastricht
[29] Two bids approved for Cretabank sale
[30] Rokas steel firm posts 40 pct H1 profit jump
[01] Parliament approves Schengen treaty amidst protests
Athens, 12/06/1997 (ANA)
Parliament yesterday ratified by a large majority the European
Union's Schengen border control agreement despite an all-night
protest outside by opponents claiming it violated individual
freedoms.
With 78 deputies absent, the 300-seat House voted 142 to 80 for
ratification of the pact, which provides for the removal of
border controls between EU member-states and increased law
enforcement co-operation.
About 200 protesters, including many members of the clergy,
remained outside the Parliament building all night, dispersing
only after the agreement was ratified. The demonstration caused
extensive traffic problems in the city center yesterday when the
number of protesters swelled to about 500. Opposers of the pact
claim it will result in the creation of a massive electronic
file of information on EU citizens and a 'police state' regime
in Europe.
Members of religious groups maintain the agreement contains a
direct reference to the number "666", which represents the
anti-Christ in the Book of Revelation.
Shortly before the vote, a policeman on duty outside parliament
joined the protesters, took a cross and declared his opposition
to the pact. A monk lifted him on his back and carried him among
the crowd of cheering protesters.
In much the same fashion, a second policeman later joined the
protesters.
Public Order Minister George Romeos later expressed regret at
the action of the two police officers, adding that the procedure
would be followed as foreseen by the police disciplinary code.
Foreign Minister Theodoros Pangalos said that although there
were certain reservations concerning human rights, what made the
greatest impression on him was the fact that "many colleagues
spoke without being familiar with the text of the pact".
"I have greater respect for those who fear Satan, because I
cannot say with certainty that he does not exist, than for those
who are not even familiar with the treaty," Mr. Pangalos said.
Commenting on the pact on Tuesday, Alternate Foreign Minister
George Papandreou said the state would keep information only on
citizens who have been convicted or are being prosecuted.
"Greek citizens are free to check on the type of information
being kept by the state," he added.
[02] Two police officers join protesters' ranks
Athens, 12/06/1997 (ANA)
In a related development, an official inquiry into the behavior
of two policemen who joined the anti-Schengen protesters outside
Parliament was initiated yesterday.
One policeman was suspended from duty and taken before a
prosecutor over criminal and disciplinary offenses, after he
reportedly took off his police hat and jacket and wore a
priest's robe, saying he wished to become a monk.
The second policeman faces an inquiry and disciplinary action.
Public Order Minister George Romeos said that if the two
policemen wished to become monks, they were free to do so.
[03] Simitis opens Parliamentary debate on Constitutional revision
Athens, 12/06/1997 (ANA)
Prime Minister Costas Simitis yesterday stated his support for
the proposal to disengage the election of president of the
republic from the possibility of dissolving Parliament, as
envisaged in current Constitutional provisions.
Opening Parliament's debate on Constitutional revision, the
prime minister said that "recourse to elections is not justified
in the present context of the president's responsibilities", and
that "political life has conquered the level of maturity which
allows an appropriate innovation".
According to current provisions on the election of a president,
the 300-member Parliament is dissolved if a candidate fails to
secure a two-thirds majority in the first two rounds and a
three-thirds majority in the third round. A three-fifths
majority is again required by the new Parliament, and if not
attained, the president is elected by an absolute majority.
The prime minister also referred to amendments regarding
personal freedom and security, protection from the processing of
personal data and biomedical experiments, as well as the
stipulation of environmental rights.
He stressed the need for transparency in the functioning of the
political system, which would be greatly promoted by the
establishment of a permanent electoral system.
"The determination of the electoral system must stop being the
subject of surprise moves by the ruling majority to serve its
own interests," he said.
[04] Tsohatzopoulos holds talks with Belgian counterpart
Brussels, 12/06/1997 (ANA - M. Spinthourakis)
Greece and Belgium intend to undertake a joint initiative with
proposals for the development of the armaments industry in
Europe, National Defense Minister Akis Tsohatzopoulos said after
talks here yesterday with his Belgian counterpart Jean Pol
Poncelet.
"We found a potential for co-operation in a series of sectors
concerning equipment for the army and air force," the Greek
minister said, adding that delegations of the two countries'
armed forces general staffs would continue discussions in coming
weeks.
He noted that discussion yesterday touched on the high cost of
procuring weapons systems, which leads many NATO countries to
consider joint production schemes.
Mr. Tsohatzopoulos further reported that discussion included
international issues concerning the two countries, as well as
bilateral matters, focusing on developments in the EU and NATO.
The two ministers also discussed the common experience the two
countries have gained from the participation in multinational
missions of humanitarian character and for the stabilization of
peace, such as in Bosnia.
Mr. Tsohatzopoulos also reported that he asked to be briefed on
problems faced by Belgium in its decision to abolish compulsory
military service and switch to a professional military system.
He clarified that Greece has no intention of proceeding to a
similar system, but wishes to increase the number of
professional cadres due to heightened demographic problems.
Mr. Tsohatzopoulos today will attend the official NATO defense
ministers' session.
[05] Stephanopoulos briefed by Simitis
Athens, 12/06/1997 (ANA)
President of the Republic Kostis Stephanopoulos and Prime
Minister Costas Simitis held a meeting yesterday focusing on a
wide range of issues.
Mr. Simitis said he briefed the president on developments in the
European Union in view of the European Council Summit to begin
in Amsterdam on June 16.
The meeting also focused on developments in foreign policy
issues and the economy.
Mr. Simitis said the discussion extended over a wide array of
issues.
"It was very positive and interesting", he said.
Meanwhile, the premier also held a meeting yesterday with
Interior, Public Administration and Decentralization Minister
Alekos Papadopoulos and National Economy Minister Yiannos
Papantoniou.
Mr. Papadopoulos said the meeting was held in view of Friday's
cabinet meeting.
Earlier in the day, Mr. Simitis held separate meetings with
Development Minister Vasso Papandreou.
[06] Pangalos confers with Albania's Sehu
Athens, 12/06/1997 (ANA)
Foreign Minister Theodoros Pangalos and president of the
Albanian ruling Democratic Party Tristan Sehu yesterday
discussed the situation in the neighboring country in view of
elections pending there at the end of the month.
No statements were issued after the meeting, but sources said
Mr. Pangalos reiterated the Greek government's "undivided
support for the course of Albania's democratization".
Mr. Sehu later briefed main opposition New Democracy leader
Costas Karamanlis on the situation in Albania.
He said after the meeting that elections would go ahead as
scheduled on June 29 "at all costs", despite the fact that
pre-electoral campaigns could not be conducted in some cities
because "they have been taken over by extremists".
Mr. Sehu expressed gratitude for Greece's assistance to Albania
during the "difficult times" it had been through, saying this
had helped maintain stability in the country.
[07] Visit with Kaklamanis
Athens, 12/06/1997 (ANA)
Mr. Sehu also visited Parliament President Apostolos Kaklamanis
and briefed him on difficulties Albania is facing, expressing
hope that the international community and Greece would help the
neighboring nation overcome the crisis.
Mr. Kaklamanis noted the importance Greece attributed to the
restoration of democratic institutions in Albania and its
interest in the ethnic Greek minority in that country.
[08] Simitis to meet Albanian socialist leader Nano tonight
Athens, 12/06/1997 (ANA)
Visiting Albanian Socialist Party leader Fatos Nano will meet
with Prime Minister Costas Simitis tonight, the government
announced yesterday.
Government spokesman Dimitris Reppas said Mr. Nano, who arrived
here yesterday at the head of a party delegation for a four-day
visit, would meet with Mr. Simitis at 20.00 local time.
Replying to questions on forthcoming elections in the
neighboring country and the return of Albanians presently
working in Greece, Mr. Reppas reiterated that the government
would provide every possible facility to ensure mass
participation in the elect ions.
The spokesman stressed that the government intended to give
"permits" even to Albanians currently in Greece illegally "but
does not intend to take them to Albania by force".
[09] Greek consulate in Gjirokaster fired upon again
Gjirokaster, 12/06/1997 (ANA - P. Barkas)
The Greek consulate in this southern Albanian town yesterday was
once again attacked by gunmen.
Assailants opened fire at the consulate, causing havoc amongst
the hundreds of passerbys and the consulate's staff.
Guards said the gunmen fired around 40 rounds, causing minor
damages. No casualties were reported, while the consulate closed
temporarily.
The consulate has been fired upon a few times by insurgents
using mostly Kalashnikov assault rifles.
[10] Gov't on Holbrooke
Athens, 12/06/1997 (ANA)
Government spokesman Dimitris Reppas expressed hope yesterday
that the mission of Richard Holbrooke, newly appointed US
special envoy for Cyprus, would prove effective.
He went on to say that Mr. Holbrooke should make use of Greek
positions on Cyprus.
Mr. Reppas was speaking during a press briefing yesterday. Asked
to comment on information alleging that Mr. Holbrooke backs
Turkey on the issue of a Turkey-Iran natural gas pipeline, Mr.
Reppas said that there where occasions when the US envoy acted
on the interests of Greece.
"Some of Mr. Holbrooke's positions serve Greek interests", he
said.
[11] Kranidiotis, Hannay confer on Cyprus
Athens, 12/06/1997 (ANA)
Foreign Under-secretary Yiannos Kranidiotis had talks here
yesterday with Britain's envoy on the Cyprus problem, Sir David
Hannay, a foreign ministry announcement said.
The announcement added that the talks focused on developments in
the Cyprus problem, while Sir David briefed Mr. Kranidiotis on
his latest talks on the divided island. In statements earlier at
Larnaca airport, Sir David said "give and take" was no t a
method but "common sense" and the only way for any agreement to
be reached, according to an ANA dispatch from Nicosia.
"We are at the end of the beginning and not at the beginning of
the end," Sir David said, adding that determination and realism
was required if an agreement was to be attained. Speaking after
a three-day visit to Cyprus before departing for Athens, Sir
David said forthcoming direct talks between Cyprus President
Glafcos Clerides and Turkish Cypriot leader Rauf Denktash
provided an "opportunity" for the Cyprus issue.
The UN-sponsored talks will be held in New York next month.
"The solution to the Cyprus problem will take time because it is
a complex problem involving sensitive issues. I hope it will be
possible for progress to be achieved in the first rounds (of
talks)..." Sir David told reporters in Larnaca.
[12] G. Papandreou briefs KKE, Coalition on IGC issues
Athens, 12/06/1997 (ANA)
Alternate Foreign Minister George Papandreou yesterday briefed a
Communist Party of Greece (KKE) delegation, headed by Secretary
General Aleka Papariga, on developments in view of the EU's
Intergovernmental Conference.
Speaking to reporters after the meeting, Ms Papariga said the
meeting confirmed the "wide difference of views and positions
between the government and KKE."
She said her party believed that the IGC would lead to a "worse"
European Union, while expressing concern over the
"non-consolidation of national borders of EU member-states" in
the event of an external threat.
Ms Papariga further expressed pessimism regarding the handling
of other issues, such as unemployment.
Asked to comment on the Schengen Pact, Ms Papariga pointed out
to the fact that it was ratified by less than 151 deputies.
"When we are asked to ratify international pacts, which
formulate a status of intervention in the domestic issues of our
country... these should be ratified by at least 150 deputies,"
said Ms Papariga.
KKE voted against Schengen.
Mr. Papandreou also briefed Coalition of the Left and Progress
leader Nikos Constantopoulos on issues relating to the
inter-governmental conference.
Mr. Papandreou said after the meeting that the IGC negotiations
were in their final phase and that his contacts with opposition
leaders had been useful.
Mr. Papandreou is to meet with Dimitris Tsovolas, the leader of
the Democratic Social Movement, today.
Mr. Constantopoulos said however he was dissatisfied that the
IGC had not been discussed in Parliament as proposed by his
party and that it was "strange" that Parliament should recess
for summer at a time when such important issues remained
outstanding.
[13] No early elections, Gov't says
Athens, 12/06/1997 (ANA)
There will be no early elections, government spokesman Dimitris
Reppas asserted yesterday, adding that the government was
absolute on this issue.
During his daily press briefing, Mr. Reppas also referred to the
revision of the Constitution in terms of the election for
president of the republic.
He said that any discussion concerning the election of the
president came at the wrong time and said the issue should not
be linked with early general elections. It was hypocrisy, he
said, to accuse the government of trying to push for changes in
the way a president is elected, especially as this in the past
had been used as a means of calling for early general elections.
Under the current Constitution, Parliament may be dissolved and
general elections called if a president of the republic does not
receive a majority of deputies after a third round of elections.
The government is looking into reducing the number of votes
necessary in the second round.
Mr. Reppas said Prime Minister Costas Simitis had met earlier
yesterday with President of the Republic Kostis Stephanopoulos
to brief him on current issues. The issue of presidential
election was not discussed, he said.
Asked whether ruling PASOK would nominate Mr. Stephanopoulos for
a second term, the spokesman said the government did not want to
open discussion on the issue, and that the current president was
carrying out his duties in the best manner.
[14] Victoria PM to ask for genuine antiquities for museum
Melbourne, 12/06/1997 (ANA - S. Hatzimanolis)
The Prime Minister of the State of Victoria, Jeff Kennet,
currently on a visit to Europe, told a press conference
yesterday that he was planning to renew his invitation to Prime
Minister Costas Simitis for an official visit to Australia.
Mr. Kennet, who is due to visit Athens on June 22-24 for talks
with Mr. Simitis, political leaders and members of government,
said his visit aimed at cultural exchanges.
Reports stated that he would ask for "genuine, permanent
exhibits" for the Victoria Museum.
While in Greece, Mr. Kennet will visit Mount Athos at the
invitation of Ecumenical Patriarch Vartholomeos. He is also due
to visit Thessaloniki.
[15] US Gov't offers reward for information on terrorism
Athens, 12/06/1997 (ANA)
The US government is offering up to $2 million for information
"leading to the arrest and conviction of persons or groups who
have committed terrorist acts against American individuals or
property".
In a statement released yesterday, the US embassy said the US
government was "renewing its appeals to the Greek people" for
information on terrorist acts.
The appeal was part of its efforts to work in close co-operation
with Greece, and belonged to the counter-terrorism rewards
program, the press release stated.
The announcement said that in the past 22 years, terrorist
actions in Greece had resulted in the deaths of four Americans,
Richard Welch, George Tsantes, William Nordeen and Ronald
Stewart, injuries to 28 other Americans and a rocket attack on
the embassy compound in February 1996.
The rewards program was established in 1984 as a deterrent to
global terrorism and is administered by the Diplomatic Security
Service of the US State Department, offering rewards "for
information which prevents, frustrates or favorably resolves
acts of terrorism against US targets, or which leads to the
arrest or conviction of criminals involved in such acts, past or
planned".
For more information, call the embassy at 720-2490 or 729-4301.
[16] Poll results favoring ND 'expected', Gov't notes
Athens, 12/06/1997 (ANA)
Poll results by the firm MRB on voting tendencies that give main
opposition New Democracy the lead over ruling PASOK by 4.6 per
cent were expected, government spokesman Dimitris Reppas said
yesterday.
According to the biannual poll, if elections were held today, 31
per cent of those questioned said they would vote for ND and
26.4 per cent for PASOK. December 1996 results showed 28.3 per
cent for ND and 26.6 per cent for PASOK, respectively.
Mr. Reppas explained that the government and prime minister are
exposed to problems and do not have the luxury of a political
presence that involves just words and costs nothing.
PASOK's ratings, however, as a government show a clear increase
with 25.1 per cent having a good or very good opinion of its
image, as opposed to December's 19.5 per cent ratings. ND's
image has also improved, with 21 per cent saying it was good or
very good, as opposed to last year's ratings of 9.5 per cent.
In terms of party leaders, the most popular politician was
Coalition of the Left and Progress (Synaspismos) leader Nikos
Constantopoulos (52 per cent).
He is followed by Costas Karamanlis of ND (44.8 per cent),
Dimitris Tsovolas of the Democratic Social Movement at 42 per
cent, PASOK Prime Minister Costas Simitis (41.4 per cent),
Political Spring leader Antonis Samaras (21.5 per cent).
Communist Party of Greece Secretary General Aleka Papariga
posted a 19.7 per cent rating.
[17] Two European Social Fund decisions related to Greece
Athens, 12/06/1997 (ANA)
The European Social Fund announced two decisions on Tuesday
which are particularly important for Greece. Specifically, the
European Social Fund will retroactively fund programs which have
been implemented, amounting to 50 billion drachmas, and from
which an inflow of funds totaling 33 billion drachmas
corresponds to Greece.
In addition, programs amounting to 65 billion drachmas were
ratified for 1997, from which the corresponding inflow of funds
into the country amounts to 40 billion drachmas.
The European Commission has ultimately accepted a proposal by
the labor ministry on the retroactive ratification and funding
of activities implemented in 1996, such as the promotion of
employment, continuing vocational training, the training of
workers in the first-stage sector and training for unemployed
merchant seamen.
[18] CoE committee against torture visits several sites in Greece
Strasbourg, 12/06/1997 (ANA/AFP)
A European Committee Against Torture (CPT) delegation has
concluded a two-week visit to Greece, during which the group
visited 20 police stations, prisons and mental institutions, a
Council of Europe representative said yesterday.
The visit, held between May 25 and June 7 aimed at collecting
information on the state of human rights in the same
institutions which the delegation had visited four years ago in
Athens, Corfu, Ioannina and Thessaloniki.
The confidential information will be contained in a report,
which will be published with the government's consent.
CPT makes periodic, unexpected visits to 35 member-states of the
Council of Europe, which have signed the European convention.
[19] Patriarch of Alexandria concludes visit to Patriarchate
Istanbul, 12/06/1997 (ANA)
The new Patriarch of Alexandria and All Africa Petros has
concluded an official visit to the Ecumenical Patriarchate, the
first visit following his election.
"The issue of the preparation of the Holy Synod of the Orthodox
Church was examined, work done to date was analyzed and they
reached a coincidence of views on the course to be followed
henceforth," an announcement stated.
"Complete identity of views was ascertained on the issue of the
strict observance of canonical order and respect for
ecclesiastical jurisdictions," it added.
In another development, the Name Day of Ecumenical Patriarch
Vartholomeos I was celebrated at the Phanar yesterday with the
participation of 15 Metropolitans, scores of clergy and hundreds
of faithful from all over the world.
Replying to addresses, the Ecumenical Patriarch referred to work
carried out by the Patriarchate.
[20] Stolen manuscript to return to Mount Athos
Sofia, 12/06/1997 (ANA - N. Hios)
A rare 18th century manuscript that was stolen from the all-male
monastic community of Mount Athos and recently located in
Bulgaria will be returned, Bulgarian President Petar Stoyanov
promised yesterday.
According to Bulgarian radio reports, Mr. Stoyanov pledged the
return of the 1762 manuscript "Slavo-Bulgarian History", written
by Paissios Hiliendarios to the Agios Georgios Zographos
Monastery on Mount Athos.
The manuscript was stolen from the monastery in the 1980s and
has been displayed at the National Historical Museum of Sofia
since September 1996.
[21] OSE, Nat'l Road Fund demand compensation from protesting farmers
Athens, 12/06/1997 (ANA)
The Greek Railway Organization (OSE) and the National Road Fund
are demanding 1.7 billion drachmas from the members of
protesting farmers' Pan-Thessaly coordinating committee as
compensation for losses caused during their latest round of
mobilizations. Additionally, a prosecutor appealed the latest
conviction of the 12 members of the coordinating committee,
considering that sentences imposed were lighter than what they
should have been.
Specifically, OSE and the National Road Fund are demanding 790
million and 967 million drachmas, respectively, from the 12
members of the coordinating committee as compensation for
mobilizations in December 1996.
Both OSE and the fund had issued warnings at the time of the
mobilizations that they would claim compensation, but the copies
of lawsuits filed by the two state organizations only began
arriving over the past few days, and will be adjudicated at a
Laris a court on Sept. 16.
OSE wants compensation due to the discontinuation of passenger
and commercial train schedules over the period that farmers'
mobilizations were underway.
On its part, the National Road Fund wants compensation because
during the mobilizations it lost 524 million drachmas in toll
fees not received, 30 million drachmas from damage caused to
roads and 80 million drachmas in costs for cleaning roads and
repairing damage. It also wants another 100 million drachmas in
punitive damages.
[22] OTE launches public offering of 45 mln. shares
Athens, 12/06/1997 (ANA)
Hellenic Telecommunications Organization (OTE) on Wednesday
launched a public offer for 10.7 percent of its equity in the
state firm's second part-flotation. The package of 45 million
shares, negotiable on the Athens Stock Exchange (ASE) is on
offer and the strike price will be announced on Monday.
National Bank of Greece on Tuesday announced a price range of
6,200-6,900 drachmas per share for institutional investors and
6,000-6,700 for individual buyers.
A first round of eight percent of its equity was floated at the
end of March last year, increasing the telecom's share capital
by 130 billion drachmas.
Sold were 32 million common shares (4 million to OTE employees
and pensioners, 8 million to institutional investors, 8 million
to foreign investors and the remainder to the general public) at
4,000 dr. each.
The share price included a dividend of 125 dr. per share from
OTE's 1995 profits.
OTE signed an agreement on Tuesday with the Serbian government
under which it acquired a 20% holding in the Balkan state's PTT
telecom for 675 million deutschemarks. Another 29% stake was
bought by Italy's STET for DM893 million.
The acquisition will aid OTE's penetration of the Balkans and
Black Sea region.
OTE anticipates substantial returns from its Serbian investment,
including a dividend from the third year of the investment,
remuneration for the provision of technical assistance (0.5% of
PTT revenues in the first year and 1% per year for 7 years), and
financial gains from the provision of future services.
Under the contract, OTE and Telecom Italia also acquire two
seats each on PTT's 9-member board with a veto right.
[23] ATE offers OTE shares loans
Athens, 12/06/1997 (ANA)
The Agricultural Bank of Greece said yesterday that it was
offering loans of up to one million drachmas for those wanting
to purchase Hellenic Telecommunications Organization shares,
which go on sale today.
The loans will be tenable for a year and carry the same interest
rate as personal loans granted by the bank.
[24] Greek stocks end sharply up on state telecom buying spree
Athens, 12/06/1997 (ANA)
A surge of buying interest in shares of Hellenic
Telecommunications Organization (OTE) led the Athens Stock
Exchange sharply higher as the market seemingly regained
confidence after last week's dramatic fall.
The general index closed 2.16 percent higher at 1,638.56 points,
with most sector indices scoring gains. Banks gained 1.92
percent, Leasing surged 2.88 percent, Insurance dropped 0.24
percent, Investment was 1.93 percent up, Industrials increased
1.62 percent, Construction rose 0.85 percent, Holding jumped
2.91 percent and Miscellaneous rose 1.72 percent.
The Parallel Market index ended 1.50 percent higher. Turnover
was stronger at 23 billion drachmas. Broadly, advancers led
decliners by 158 to 64 with another 19 unchanged.
Oerlikon, Alco and Kardasilaris were top gainers while Allatini,
Parnassos and Atemke suffered the heaviest losses of the day.
OTE remained the highlight of the session for one more day with
its share price rising 4.9 percent, or 345 drachmas, to end at
7,450.
Volume was a massive 500,000 shares worth more than 3.5 billion
drachmas.
According to market sources investors were buying OTE's shares
through the market fearing that oversubscription to the
company's public offering would restrict access to OTE's
forthcoming share capital increase, due on June 18-July 18.
[25] Finance ministry to take action on Dr 1.67 trillion tax debt
Athens, 12/06/1997 (ANA)
The Greek finance ministry has prepared a list of more than 1000
major tax debtors from three key cities in the country who owe a
total of 1.655 trillion drachmas, and pending is an equivalent
list for the rest of the country.
The list already prepared cites debts of 1.4 trillion drachmas
from Athens, 220.6 billion from Piraeus and 34.5 billion from
Thessaloniki, Finance Under-secretary George Drys said.
The ministry has said it is ready to confiscate property, freeze
bank accounts and send debtors to prison in order to secure
payment.
Mr. Drys noted, however, that the ministry had yet to decide
whether or not it would publicly announce the names on the list.
[26] Income tax settlement proceeds slower
Athens, 12/06/1997 (ANA)
The Greek finance ministry expects to settle around 80 percent
of income tax declarations by the end of July, Finance
Under-secretary George Drys said.
Settlement has been slower compared with the same period last
year due to problems faced by tax collectors stemming from a new
procedure on property tax, and their refusal to work overtime.
According to the latest figures, taxpayers will be obliged to
pay 125.92 billion drachmas, and the state will have to return
up to 94.34 billion drachmas.
Mr. Drys reiterated once more than the government would not take
any more tax measures and that there would be no serious budget
revenue shortfall this year.
[27] Greece would welcome relaxed Maastricht criteria
Athens, 12/06/1997 (ANA)
Greece, which is ready to take part in the first or second stage
of European Economic and Monetary Union, would back a proposal
for a more relaxed interpretation of the European Union's
Maastricht criteria, government spokesman Dimitris Reppas said.
If the criteria were relaxed Greece then should be included and
participation in the European single currency should have the
same terms for the first and second wave of entrants, Mr. Reppas
told a news briefing.
The spokesman noted, however, that so far no specific figures
had been given and described current talk on the issue as
premature. Mr. Reppas also commented on the economic policy
followed by the government, saying that it should continue its
mix of improving economic indicators and ensuring social
cohesion.
He welcomed German Foreign Minister Klaus Kinkel's statement
calling for an extension to the revised Maastricht Treaty that
would contain measures to boost employment and social cohesion.
[28] Santer comments on Greek request for revised Maastricht
Strasbourg, 12/06/1997 (ANA - Y. Zitouniati)
European Commission President Jacques Santer yesterday expressed
the hope that Greece would be pleased by the inclusion in the
revised draft of the Maastricht Treaty of a provision
recognizing the Union's external borders. He made the statements
at a press conference in Strasbourg.
[29] Two bids approved for Cretabank sale
Athens, 12/06/1997 (ANA)
An evaluation committee for the privatization of Cretabank has
approved bids by Consolidated Eurofinance Holdings S.A, a
subsidiary of the Latsis Group, and Bank of Piraeus to take part
in the second and final stage of the tender.
The committee rejected bids by two Chinese companies - Nanjing
Star Company Ltd. and An Ran Industrial Group Ltd. - on the
grounds that their bids lacked fundamental data set as
conditions for evaluation, Cretabank said in a statement.
According to the committee, the procedure for the sale of
Cretabank, formerly known as Bank of Crete, is expected to be
completed by the end of August.
[30] Rokas steel firm posts 40 pct H1 profit jump
Athens, 12/06/1997 (ANA)
Rokas ABEE, a steel company listed on the Athens Stock Exchange,
reported a 40 percent increase in first-half profits compared to
the corresponding period of 1996. The company expects 1997
profits to exceed 1.25 billion drachmas and turnover more than 5
billion from 1.05 billion and 3.7 billion drachmas respectively
in 1996.
The company will pay a dividend of 75 drachmas per share. Rokas
is expected to proceed with a 1.5-2.0 billion drachma share
capital increase to be decided at the company's annual
shareholders meeting on June 19. Proceeds will be used to fund a
wind power program in Greece.
End of English language section.
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