Athens News Agency: Daily News Bulletin in English, 97-06-26
From: The Greek Press & Information Office, Ottawa Canada <grnewsca@sympatico.ca>
ATHENS NEWS AGENCY BULLETIN (No 1221), June 26, 1997
Greek Press & Information Office
Ottawa, Canada
E-Mail Address: grnewsca@sympatico.ca
CONTENTS
[01] High level of co-operation noted in Greek-Yugoslav relations
[02] EU auditor welcomes Greece's use of Community funds
[03] PM gets Athens 2004 bid update today
[04] New board, president take over at EIYAPOE
[05] US reassures Tsohatzopoulos that no weapons transfer embargo exists
[06] Ecological seminar sponsored by Patriarchate begins
[07] State Dept. delegation in Turkey for talks on Cyprus, Aegean
[08] Turkish criticism
[09] 'Social dialogue' covers issues of competitiveness, employment
[10] Greek win at Eurobasket
[11] Karamanlis confident of electoral success at any time
[12] Karamanlis critical of Gov't on economic policy
[13] Rallis criticizes NATO at book launching
[14] Ministers, health professionals speak at event on drug prevention
[15] Venizelos at EU culture ministers' meeting on Monday
[16] 'European Museum' proposal
[17] Schengen committee discusses membership for Greece, Austria, Italy
[18] EU ministers' council decides to freeze 1997-98 farm prices
[19] Greek, Cypriot health ministers focus on several bilateral issues
[20] DEP profits increase
[21] EOT, Moroccan counterpart sign tourism co-operation agreement
[22] Drachma depreciates against EU currencies in May
[23] Lithuanian interest in Greek wines, citrus fruits
[24] Finance ministry on nat'l borrowing for '97
[25] Civil servants' pensions to rise by 8 per cent
[26] Greek equities jump as confidence returns
[27] Thessaloniki airport to launch new facilities
[28] Beobanka customers to make drachma withdrawals in Greece
[29] National Bank of Greece ranks 7th in European survey
[30] Xiosbank sees 2.7 bln. drachma profit in 1997
[31] Helexpo posts profits of 295 mln. drachmas in 1996
[32] Customs co-operation agreement between Greece, Cyprus
[33] Public sector hirings must be reduced, Papadopoulos says
[34] Olympic Airways inaugurates Athens-Budapest route
[01] High level of co-operation noted in Greek-Yugoslav relations
Athens, 26/06/1997 (ANA)
Prime Minister Costas Simitis and his visiting Yugoslav
counterpart Radoje Kodic both expressed their satisfaction at
the level of co-operation between the two countries after their
meeting yesterday.
Mr. Simitis said the recent investment by the Greek public
telecoms organization OTE in Yugoslavia and other investments in
mining operations in Kosovo was an example of "very good
co-operation".
He said the Federal Republic of Yugoslavia was supportive of
Greece's proposal to convene a summit of Balkan countries
towards the end of the year, adding however, that all Balkan
countries should participate in this meeting. "Relations
(between Balk an countries) have to be normalized as soon as
possible," the Greek premier said.
Mr. Simitis said that the European Union had to develop a Balkan
policy and that Greece should play a leading role towards
achieving this goal.
"Greece is obliged to take initiatives for peace in the
Balkans," he said.
On his part, Mr. Kodic said the "sincere, friendly and
constructive" talks focused on promoting bilateral relations,
multilateral Balkan co-operation, the reintegration of
Yugoslavia into international organizations and peace procedures.
He said he had extended an invitation to Mr. Simitis to visit
Belgrade and that the Greek prime minister had given in
principle his agreement for Yugoslavia's increased use of the
port of Thessaloniki, following the signing of relevant
agreements by the chambers of commerce in both nations.
Mr. Kodic said trade between the two countries was projected in
the region of US$500 million for the next year and thanked Mr.
Simitis and the Greek government for working to reintegrate
Yugoslavia and to lift obstacles to its relations with other
countries.
Earlier, Mr. Kodic discussed Greek-Yugoslav relations and
prospects for their further development and issues of the wider
Balkan area with Parliament president Apostolos Kaklamanis,
expressing his country's gratitude for the Greek stance and
support during the Bosnia-Herzegovina crisis and the UN-led
embargo imposed on Yugoslavia.
He conveyed his country's request to Athens that the latter play
a primary role in the Federal Republic of Yugoslavia's efforts
to return to international organizations, and called for
acceleration of the Greek Parliament's ratification of
agreements signed during his visit here on avoidance of double
taxation and protection of investments.
Mr. Kodic stressed the importance of a closer co-operation
between the two Parliaments for further development of the ties
between the two countries in all sectors and invited Mr.
Kaklamanis to officially visit Yugoslavia sometime in 1997,
which the Greek Parliament president accepted.
Mr. Kaklamanis assured Mr. Kodic that Greece would continue to
support Yugoslavia, because this was imposed by the interests of
not only the two peoples but the entire Balkans.
It was necessary for Yugoslavia to regain its position, and
Greece's assistance in that direction was a given fact, Mr.
Kaklamanis said.
Mr. Kodic, who was on a one-day visit to Greece, also met with
President of the Republic Kostis Stephanopoulos, in addition to
signing two bilateral agreements on the avoidance of double
taxation and investment protection.
[02] EU auditor welcomes Greece's use of Community funds
Athens, 26/06/1997 (ANA)
European Audit Department chairman Bernard Freeman yesterday
expressed satisfaction with the Greek government's use of
European Union funds.
"We are particularly happy with the use of structural funds by
Greece," Mr. Freeman told reporters after a meeting with Prime
Minister Costas Simitis.
Greece had received almost 5 billion ECU's in structural funds
over the last few years, he said.
Commenting on the socialist government's economic policies, Mr.
Freeman welcomed a decline in inflation, interest rates and the
public debt. "(We are also satisfied with) the fact that the
premier and the Greek government will continue privatization in
order to boost the productivity of the Greek economy", Mr.
Freeman added.
Mr. Simitis said his talks with Mr. Freeman were useful and
showed that the country was moving in the right direction.
"We want a third opinion to assure us that laws are being
implemented and subsidies are rightly distributed," he said.
Accompanying Mr. Freeman on his visit to Athens is the Greek
representative to the European Audit Department, Popi Nicolaou.
[03] PM gets Athens 2004 bid update today
Athens, 26/06/1997 (ANA)
Prime Minister Costas Simitis will visit the head office of the
Athens 2004 Olympics bid committee at noon today.
The president of the committee Yianna Daskalaki-Angelopoulou
will brief the prime minister on the progress of the Greek bid.
Athens has made the shortlist of candidate cities but has to
beat off strong competition from Rome to be declared the winner.
The announcement is due to be made on September 5. Mr. Simitis'
visit coincides with yet another visit to Athens by a member of
the International Olympic Committee, Sudanese General Abdel
El-Gadir, who will receive a briefing from the committee on
Friday. He will also visit the Peace and Friendship Stadium and
various other facilities planned to host events.
On Saturday, he will visit Ancient Olympia, the home of the
ancient Olympic Games, and will plant an olive tree in his name.
[04] New board, president take over at EIYAPOE
Athens, 26/06/1997 (ANA)
Professor Dimitris Glaros has officially taken over as president
of the board of directors of the National Institute for the
Reception and Resettlement of Expatriate and Repatriated Greeks,
EIYAPOE.
Welcoming the new president and board members, Alternate Foreign
Minister George Papandreou said the Greek state lent particular
weight to the resettlement of refugees and repatriated Greeks
and said the government, the prime minister and himself would
give first priority to issues affecting the Greeks of the Black
Sea region, Albania, and the rest of the world.
He said the foundation's budget, already limited by fiscal
discipline, would look for new sources of funds from the Council
of Europe and other European programs.
[05] US reassures Tsohatzopoulos that no weapons transfer embargo exists
Washington, 26/06/1997 (ANA - T. Ellis)
National Defense Minister Akis Tsohatzopoulos' contacts here
focused on the need to modernize and renew the Greek armed
forces.
Shortly before leaving Washington for New York, where he was due
to have his first meeting with Archbishop of America Spyridon
last night, Mr. Tsohatzopoulos said he received assurances from
the US Pentagon's political leadership that there is no embargo
on the sale of weapons to Greece, saying that whatever delay is
due to "difficulties of a technical nature."
Mr. Tsohatzopoulos said Greece has traditional relations with US
companies for the procurement of weapons systems and for this
reason he discussed the issue at length, both at the Pentagon
and with senior officials of private defense companies.
"We want to co-operate in the implementation of the armaments
program which will amount to US$1.5 billion a year," Mr.
Tsohatzopoulos said, but added that this will only happen in the
event it is beneficial for Greece.
"We do not need anyone to face Turkey's aggressiveness," he said
and went on to say that there are many other countries which can
provide Greece with modern weapons systems.
What Mr. Tsohatzopoulos placed particular emphasis during talks
with representatives of weapons manufacturing companies on the
need for the joint production of arms system which, as he said,
amount to 30 per cent in the case of Turkey, while in Greece it
is only 4 per cent.
[06] Ecological seminar sponsored by Patriarchate begins
Istanbul, 26/06/1997 (ANA-A.Kourkoulas)
An international ecological seminar entitled "Environment and
Justice," was due to begin yesterday in the Agia Triada
Monastery on the island of Halki.
The annual international seminar takes place under the auspices
of Ecumenical Patriarch Vartholomeos and Prince Philip, Duke of
Edinburgh, in his capacity as honorary president of the World
Wildlife Fund.
The Patriarch was due to inaugurate the seminar, which will be
held with the participation of theologians from various faiths,
environmentalists, scientists and special legal advisers from
east and west Europe, the United States, Africa, the Middle East
and Australia.
The four-day seminar will focus on the promotion of
environmental concerns and the social responsibility of
political leaders.
Prince Philip, US President Bill Clinton, European Commission
President Jacques Santer, the Archbishop of Cantemburry George
Carey, the Secretary General of the World Council of Churches
Konrad Raiser, and others, have sent messages.
[07] State Dept. delegation in Turkey for talks on Cyprus, Aegean
Istanbul, 26/06/1997 (ANA - A. Kourkoulas)
A US delegation headed by State Department's official Carey
Cavanaugh is currently in Turkey for deliberations with
officials on the Cyprus question and issues related to the
Aegean.
According to the Turkish newspaper "Zaman", discussions between
US and Turkish officials will also touch upon the issue of the
Imia islets in the Aegean, whose sovereignty is being disputed
by Turkey since last year.
On the basis of the outcome of contacts in Ankara, the
delegation will make recommendations to the newly appointed US
presidential envoy for the Cyprus issue, Richard Holbrooke.
[08] Turkish criticism
Athens, 26/06/1997 (ANA)
Meanwhile, Turkish Foreign Under-secretary Onur Oymen criticized
Greece for "dragging its feet in beginning dialogue with Turkey".
"It appears that there are people who still get upset at the
idea of dialogue," Mr. Oymen said in an interview published
yesterday in the English-language "Turkish Daily News".
He said the Greek press had been vociferous in its criticism of
his speech in Athens last month, adding: "I would not dare to
repeat what the Greek press wrote about President (Suleyman)
Demirel", who had made statements prior to Mr. Oymen's speech.
Mr. Oymen, who stressed Turkey's European orientation, said it
was "encouraging" that there was no mention of Cyprus at the
Amsterdam EU summit recently.
[09] 'Social dialogue' covers issues of competitiveness, employment
Athens, 26/06/1997 (ANA)
The "social dialogue" committee held a meeting yesterday
focusing on policies to increase competitiveness and employment.
Labor Under-secretary Christos Protopapas said the meeting was
held in a positive atmosphere.
He said the meeting, held with the participation of experts,
would continue and the final report will be submitted to the
plenary of the social dialogue committee after the summer.
Yesterday's meeting centered around human resources and
interventions to promote employment, income and low inflation,
and tax.
The committee discussed a text on human resources and
employment, submitted by National Economy Ministry Secretary
General Apostolos Fotiadis and Manpower Employment Organization
(OAED) President Constantinos Efstratoglou, calling for the
modernization of training procedures, the restructuring of OAED,
the implementation of measures against unemployment and
development of protection networks for employees in the process
of being made redundant in businesses about to undergo
restructuring.
On this last issue, unions have made a request for the finding
of new resources against unemployment.
The committee discussed another text submitted by the
government, calling for a political agreement to ensure income
and price controls for a further reduction in inflation.
Mr. Protopapas said that collective agreements would be
respected.
On the issue of taxation, which had been submitted by the
unions, Mr. Protopapas said the government will consider the
views of the partners and make its positions known in due time.
[10] Greek win at Eurobasket
Girona, Spain 26/06/1997 (ANA - Dimitris Efstathiou)
The Greek national basketball team made a good start at the
opening of 30th EuroBasketball Championship here, beating Turkey
74-52.
The Greek team was applauded by the mostly Spanish crowd and
about 100 Greek fans, while Efthymis Retzias and Nikos Economou
led the team with 14 and 16 points, respectively.
[11] Karamanlis confident of electoral success at any time
Athens, 26/06/1997 (ANA)
Main opposition New Democracy party leader Costas Karamanlis is
confident that his party can win elections at any time.
Mr. Karamanlis said in an interview with monthly "Crash"
magazine that Prime Minister Costas Simitis managed to create an
image of seriousness about him "but how truly serious he really
is remains to be seen."
He said that Mr. Simitis' weak point was his failure to
communicate with the average citizen and the fact that he
appears unwilling to challenge his party's nomenclature.
Asked to comment on senior officials in his own party, the
opposition leader said he did not support talk of the existence
of "barons," and that "nobody is creating obstacles".
"We get on well," he said.
Commenting on his relations with his predecessor Miltiades
Evert, Mr. Karamanlis said they were bound by long years of
friendship but that each one had his own personal style.
"I consider criticism to be well-intentioned unless proven
otherwise," Mr. Karamanlis said.
Mr. Karamanlis reiterated calls to those who in the past had
left the party, to join ND again. His call was also addressed to
Political Spring leader Antonis Samaras, who was foreign
minister during the Mitsotakis administration, and Andreas
Adrianopoulos, another former ND minister.
"It is an open invitation, no terms included," Mr. Karamanlis
said.
Commenting on other issues, Mr. Karamanlis said that former
prime minister, the late Andreas Papandreou did "damage to the
country."
He said that Papandreou's "intense political personality
magnetized crowds" and that "a great number of people got
'caught up' in this scenario of change."
"New Democracy was unable to fight this phenomenon," he admitted.
[12] Karamanlis critical of Gov't on economic policy
Athens, 26/06/1997 (ANA)
The leader of the main opposition New Democracy party, Costas
Karamanlis, speaking to party members yesterday, criticized the
government's economic policy, saying it was hitting mainly the
poorer sections of the society.
Mr. Karamanlis said he believed that nothing positive would
happen this decade, since the ruling party was not willing to
proceed with real changes.
[13] Rallis criticizes NATO at book launching
Athens, 26/06/1997 (ANA)
Former ND prime minister George Rallis, who delivered a short
speech yesterday during the launching of his book "My Diary
During the Dictatorship" yesterday, referred to problems in
relations between Greece and Turkey.
The former premier wondered about the role of NATO, saying the
alliance should be considered as of questionable credibility
since "it had tolerated for so many years Turkish threats
against Greece".
Mr. Rallis noted that if NATO could not realize that there were
no differences between Greece and Turkey but only Turkish
threats against Greece, then the organization was of no use to
world peace.
"We are all responsible for having brought about the military
junta of 1967", he said when referring to the seven-year
dictatorship.
[14] Ministers, health professionals speak at event on drug prevention
Athens, 26/06/1997 (ANA)
A new center will open at the old Red Cross building near
Omonoia Square in central Athens this September providing health
facilities for drug addicts, including a dentist's office, a
hotline as well as legal aid and a job placement service, the
president of the Organization Against Drug Abuse (Okana) said
yesterday.
At an event in observance of today's International Day against
Drugs, the health ministry-affiliated organization's president,
Meni Maliori, added that the programs using methadone
substitutes would be expanded to include 350 new recovering
heroin users, while a new alternative therapy program would be
set up in Achaia prefecture within the next six months.
She also said that many local government officials were involved
as trainers in the prevention programs.
During the same event, Health Minister Costas Geitonas said that
there was a gradual but significant increase in the use of
synthetic drugs by high school students.
The work carried out by the European Observatory on Drug Abuse,
he said, could provide the groundwork for a better planning of
programs against drug abuse in Europe.
On his part, Public Order Minister George Romeos pointed out
that legislation should become stricter for drug dealers and
smugglers, which it was logical to treat users as patients
rather than criminals. He added that authorities often arrested
users with small amounts of illegal drugs who were treated in
the same way as drug dealers.
Representatives from the drug rehabilitation centers noted that
the use of substitutes such as methadone was not panacea and
should not be seen as the only means of dealing with drug
addicts in Greece.
The main opposition New Democracy parliamentary committee on
drug abuse accused the government of being unable to apply an
effective policy to fight drug abuse.
The Communist Party of Greece (KKE) expressed concern over what
it said was a tragically extensive problem and claimed that an
unprecedented campaign was taking place to make the Greek people
and youth come to a compromise with the problem and
decriminalization of narcotics.
The Coalition of the Left and Progress (Synaspismos) called for
further improvement and change in the legal framework,
strengthening of the rehabilitation centers and specific
measures to help former addicts integrate in society.
The Democratic Social Movement (DHKKI) called for extensive
dialogue using new scientific and social data.
[15] Venizelos at EU culture ministers' meeting on Monday
Athens, 26/06/1997 (ANA)
Culture Minister Evangelos Venizelos will be in Rome on Saturday
to attend a meeting of European Mediterranean culture ministers
before flying to Luxembourg on Monday to attend the European
Union Council of Culture Ministers. His new British counterpart
Chris Smith is also expected to attend the meeting, the first
time the two will have met since the British Labor party came to
office in May.
Mr. Venizelos had said then he would bring up the issue of a
return of the Parthenon Marbles despite a blunt rebuff from Mr.
Smith at the time that the so-called "Elgin Marbles" would not
be returned.
Also to be examined in Luxembourg is a proposal by professor of
fine arts and director of the National Gallery Marina
Lambraki-Plaka for the creation of a European Museum network.
Mr. Venizelos also announced that he intended to invite culture
ministers to Thessaloniki to view the exhibition of artifacts
from Mount Athos currently on show at the Byzantine Museum.
He also announced that experts from the 15 European Union
nations will attend a congress on "Cultural education in Europe
- development prospects" would begin in Thessaloniki on Friday.
[16] 'European Museum' proposal
Brussels, 26/06/1997 (ANA - M. Savva)
The European Commission is interested in a Greek proposal for
the creation of a "European Museum" in each EU member-state
which will help put into practice Article 128 of the Maastricht
treaty which obliges the EU to contribute to the cultural
development of its members while also respecting national
pluralities and promoting a common cultural heritage. The
proposal, developed by Marina Lambraki-Plaka, the director of
the National Gallery, aims, explains Ms Lambraki-Plaka in a
recent letter to Commission Christos Papoutsis, to "equalize the
situation where economically stronger countries dominate in the
arts and letters which leads us to speak of 'centers' and
'regions'."
"Only culture, but culture as an expression of the historic and
psychological identity of a nation, can create the appropriate
conditions for the recognition and mutual respect between
peoples," she said.
She also proposes the introduction of "European acquaintance"
education programs in secondary education in all EU schools.
The European Museum proposal foresees the establishment of
museums in the capital or other city of each country which will
operate as a cultural center with exhibition space, libraries
and conference halls with advanced media for the continuous
informing of the public of cultural events in other countries.
The institution should be funded by Community resources and be
led by experts such as art historians.
According to reports, the relevant Commissioner Marcelino Oreja
has been warm to the idea, calling it "challenging".
[17] Schengen committee discusses membership for Greece, Austria, Italy
Brussels, 26/06/1997 (Reuter/ANA-M. Spinthourakis)
Greece and Austria will be allowed entry into the Schengen Pact
by the end of 1997, the treaty's executive committee said during
its meeting in Lisbon yesterday.
The meeting discussed plans for full membership for Austria,
Greece and Italy into the Schengen framework, which provides for
the lifting of border controls between European Union
member-states and for increased co-operation in law enforcement
matters.
Greece, which adopted the agreement this month, was represented
by Stelios Perrakis, the foreign ministry's secretary general
for European affairs.
Approval for Greece and Austria's membership is pending at the
French and Dutch parliaments, which have not ratified them yet.
According to sources, France reassured Greece of its approval by
mid-September, while the Dutch delegates did not wish to commit
themselves.
On the other hand, Italy's membership to Schengen has met with
criticism, mainly due to fears of an influx of weapons,
narcotics and illegal immigrants from Albania.
Kurt Schelter, a spokesman for the German delegation, expressed
the meeting's concern about Italy, saying that "it is not an
easy border between Italy and Albania and even the Hungarian
border, between Austria and Hungary, is a very risky one".
Asked if Germany was concerned about a possible influx of
weapons from chaotic Albania following an insurrection there
earlier this year, Mr. Schelter said, "Certainly. And illegal
immigrants (from Albania) across the borders to Austria".
He also expressed concern about drug smuggling, noting that "we
have to prevent drug trafficking coming across the Hungarian
border to Austria (and then Germany)".
[18] EU ministers' council decides to freeze 1997-98 farm prices
Brussels, 26/06/1997 (ANA - P. Pantelis)
After three-day marathon talks and three compromise proposals,
the EU Council of Agriculture Ministers in Luxembourg reached a
decision on new farm prices over the 1997-1998 period and on
relevant measures.
The new prices are "frozen", as proposed by the European
Commission, but the issue of saving ECU 1.4 billion from arable
cultivation with which the Commission hoped to cover the funding
of consequences stemming from the "mad cows" disease was
postponed.
The arable land issue will be discussed in autumn together with
the beef and milk issues.
Agriculture Minister Stephanos Tzoumakas announced that with the
decision concerning the new farm prices, many Greek claims were
accepted. Moreover, the Commission committed itself that it will
examine Greek claims on cotton by the end of the year. It will
make revisionary proposals for tobacco and olive oil after the
European Parliament offers its opinion, while for wine it will
revise its proposals which have been discussed for years without
being accepted.
[19] Greek, Cypriot health ministers focus on several bilateral issues
Athens, 26/06/1997 (ANA)
Health Minister Costas Geitonas and his Cypriot counterpart
Christos Solomis inaugurated an open line for health during a
meeting yesterday in Athens.
Speaking to reporters after the meeting, Mr. Geitonas stressed
the need for further co-operation between the two countries in
the sector of health, while Mr. Solomis extended his country's
gratitude for Greece's support.
The Cypriot minister said that co-operation between the two
ministries had shown so far that the two countries were able to
produce significant results in the health sector. Mr. Solomis
extended an official invitation to his Greek counterpart to
visit Cyprus.
The minister said his short-term goals included the
modernization of legislation in the health sector and its
harmonization with respective European law.
The two ministers also discussed the possibility of Cyprus'
participation in European-funded health programs and the
establishment of a joint committee for the implementation of the
meeting's decisions.
[20] DEP profits increase
Athens, 26/06/1997 (ANA)
The Public Petroleum Corp. (DEP) increased its profits from
seven billion drachmas in 1995 to 12 billion drachmas in 1996
and, according to its balance sheet, total profits of the DEP
group reached 28 billion drachmas as against 23 billion drachmas
in 199 5.
Presenting the results of the fiscal year at the general
assembly of shareholders, DEP's administration expressed
satisfaction because the group is steadily showing that it can
hold the dominant role in the oil market with success for the
benefit of the consumer and the national economy.
Development Minister Vasso Papandreou, representing the state as
a shareholder, said the targets set for DEP by the government
are the smooth and with competitive conditions supply of the
country's fuel needs, operation of the market with conditions of
free and healthy competition for the benefit of the consumer and
the national economy, effective utilization of invested capital,
modernization of productive units and participation in the
country's development through investments in Greece and abroad.
[21] EOT, Moroccan counterpart sign tourism co-operation agreement
Athens, 26/06/1997 (ANA)
The Greek Tourist Organization (EOT) and the Moroccan Tourist
Organization agreed to a tourism co-operation agreement during
the third session of a Greek-Moroccan tourism co-operation
conference held in the North African country.
The agreement anticipates encouragement for direct contacts and
co-operation between the two countries' travel agent unions,
examining the possibility of organizing a conference for tourism
professionals from all interested Mediterranean countries
through the European MEDA program, promotion of co-operation and
an exchange of know-how on such issues as marinas, golf courses,
spas, traditional settlements, national cuisine, etc., as well
as the participation of the two countries in tourist exhibitions
scheduled in Greece and Morocco. Another issue calls for the
invitation of students from the Moroccan Tourist Trade Academies
for practical training in Greece.
[22] Drachma depreciates against EU currencies in May
Athens, 26/06/1997 (ANA)
The value of the drachma fell against almost all European Union
member-states currencies in May, compared to April, according to
the monthly bulletin of foreign currency parities compiled by
the exports Research and Studies Center (KEEM).
A total of 12 EU member-states currencies appreciated against
the drachma by between 0.29 percent (Finnish mark) and 1.11
percent (Italian lira). The Irish punt depreciated against the
drachma by 1.54 percent.
The drachma also fell against most other currencies in the same
period with other currencies appreciating against the drachma by
between 0.49 percent (US dollar) and 6.40 percent (Japanese yen).
The Norwegian krona and the Australian dollar depreciated
against the drachma by 0.96 percent and 0.02 percent
respectively.
[23] Lithuanian interest in Greek wines, citrus fruits
Athens, 26/06/1997 (ANA)
The Hellenic Foreign Trade Board (HEPO) announced that
Lithuania-based companies are interested in contacting Greek
companies producing wines and brandy, as well as producers of
large quantities of citrus fruits.
Interested businesses can directly contact Lietuvos Graiku
Draugija "Patrida", 159 Kalvarisu St., Vilnius, Lithuania, tel.
and fax 370-2-776980.
[24] Finance ministry on nat'l borrowing for '97
Athens, 26/06/1997 (ANA)
The finance ministry announced that part of the nation's foreign
loan needs in 1997 will be obtained through private resources on
the basis of the Euro Medium Term Not Program (EMTN).
With the process already defined, the finance ministry has
received a large number of bids from private sources amounting
to US$1.8 billion and accepted bids totaling US$850 million with
the most favorable terms for the state (lower total cost) and
for a duration ranging between five-20 years.
The announcement noted that this loaning is considered
particularly successful, while a decrease in cost is achieved
for the state and the lengthening of the debt.
[25] Civil servants' pensions to rise by 8 per cent
Athens, 26/06/1997 (ANA)
A pensions bill finalized between the finance ministry and the
Civil Servants Supreme Administrative Council (ADEDY)
anticipates an 8 per cent increase in civil servants' pensions
as of Aug. 1.
The increase in pensions was announced by Finance
Under-secretary Nikos Christodoulakis, who disclosed that a
series of contacts will start with ADEDY next week on how
collective negotiations in the public sector will take place on
salary increases for civil servants in 1998.
Mr. Christodoulakis also said the way the state will provide
loan guarantee for loans for public utilities (DEKO), insurance
funds and other state bodies will change, adding that the system
for granting guarantees will become stricter.
[26] Greek equities jump as confidence returns
Athens, 26/06/1997 (ANA)
Stock prices recovered more ground on the Athens Stock Exchange
as the market seemingly regained confidence after last week's
sharp correction, despite the fact that Hellenic
Telecommunications Organization (OTE) again fell.
The general index jumped 2.98 percent to end at 1,543.54 points,
reflecting gains in the banking and construction sectors, up
3.88 and 4.09 percent respectively. Trade was heavy with
turnover at 22.1 billion drachmas.
Leasing was 2.79 percent higher, Insurance increased 2.73
percent, Investment ended 2.48 percent up, Industrials rose 3.14
percent, Holding was 3.01 percent up and Miscellaneous increased
3.57 percent. The parallel market for smaller cap stocks ended
0.13 percent up. Broadly, advancers led decliners by 184 to 47
with another 19 issues remaining unchanged.
Hellenic Investment Bank for Industrial Development (ETEVA),
Housing Bank, and National Insurance were top percentage
gainers, while General Trade, Xylemporia and Ippotour suffered
the heaviest losses of the day.
National Bank of Greece finished at 34,950 drachmas, Ergobank at
17,500, Alpha Credit Bank at 19,065, Titan at 12,300 and
Intracom at 12,350 drachmas.
[27] Thessaloniki airport to launch new facilities
Athens, 26/06/1997 (ANA)
New facilities at Macedonia Airport in Thessaloniki will be
inaugurated today by Transport and Communications Minister Haris
Kastanidis.
Completed is the first stage of an operational and visual
upgrade for the airport worth 3.5 billion drachmas. The project,
financed by the ministry and started last year, aims at
modernizing the country's second international airport to help
make Thessaloniki Europe's link to the Balkans and eastern
Europe. Mr. Kastanidis will announce the timetable for the
second stage of the project, budgeted at 11 billion drachmas, at
Thursday's ceremony.
The second phase of works covers two building extensions;
upgrading of a runway to enable operations in fog; two new
runways 3,440 and 2,400 meters long; 38 new parking lots for
aircraft; a container station and new auxiliary installations.
Under the project's master plan, Macedonia Airport will
eventually be able to serve an estimated nine million passengers
per year.
[28] Beobanka customers to make drachma withdrawals in Greece
Athens, 26/06/1997 (ANA)
Agricultural Bank of Greece (ATE) and Beobanka finalized an
agreement allowing Yugoslav nationals who have foreign currency
accounts at the Belgrade bank to make drachma withdrawals in
Greece.
ATE Governor Christos Papathanasiou and Beobanka President
Zlatan Perusic signed the agreement, which involves the issue of
new bilingual booklets in Greek and Serbian.
Addressing a joint press conference in Athens, Mr. Papathanasiou
and Mr. Perusic also announced the signing of a co-operation
protocol between the two banks as a step towards closer ties.
The protocol anticipates the joint creation of a third bank in
Yugoslavia and the establishment of joint ventures in mutual
funds, leasing and factoring. Agricultural Life Insurance, a
subsidiary of the Greek bank, signed an agreement with Beobanka
Insurance for co-operation in training, planning and promotion
of insurance products.
[29] National Bank of Greece ranks 7th in European survey
Athens, 26/06/1997 (ANA)
National Bank of Greece ranks seventh in a list of the top ten
European banks with the highest return on capital, and it is the
only Greek bank to be included in the list of the top 100
largest banks in Europe, according to a survey by London-based
IBCA.
The results of the survey, published in the French daily
financial newspaper "Les Echos", come ahead of a share capital
increase the bank has scheduled for autumn.
The bank's chairman, Theodoros Karatzas, told Reuters in an
interview that first quarter results showed an 80 percent
increase to 19.7 billion drachmas in comparison with the
corresponding period last year. Mr. Karatzas also stressed that
the bank hoped to play a leading role in southeast Europe and
the Middle East through the development of new activities in
order to boost its competitiveness in a demanding international
banking environment.
A plan for the merger of its subsidiaries in the mortgage and
insurance sectors (National Mortgage Bank with National Housing
Bank and Astir Insurance with National Insurance) should be
completed by the end of the year.
[30] Xiosbank sees 2.7 bln. drachma profit in 1997
Athens, 26/06/1997 (ANA)
Xiosbank's board said that a profit of 2.7 billion drachmas
forecast for 1997 was a realistic target based on the bank's
business during the first five months of the year.
Presenting 1996 results at the annual shareholders meeting, the
board said total assets rose to 236.4 billion drachmas from
199.4 billion the previous year; loans increased to 102.5
billion drachmas from 81.28 billion; and deposits were 183.4
billion from 166.2 billion drachmas in 1995. Xiosbank announced
a 116.2 percent rise in its mutual fund assets to 124.7 billion
drachmas in May in comparison with the same month last year.
The bank said that it would open three new branches in Athens,
Hania in Crete, and Ioannina in the northwest of the country. It
already has 26 branches.
[31] Helexpo posts profits of 295 mln. drachmas in 1996
Athens, 26/06/1997 (ANA)
Helexpo, a Thessaloniki-based trade fair organizer, reported
profits of 295 million drachmas for 1996, up from 217.5 million
the previous year, a balance sheet approved by its assembly said.
Profits rose sharply in the first six months of 1997 totaling
754 million drachmas against 153 million in the corresponding
period of 1995.
Helexpo chairman Antonis Kourtis said that 1.5 million people
visited the state-run company's facilities last year.
Among trade fairs held in 1996 were Agrotica, Infacoma,
Furnidec, Furnima, Ygeia, Marmin, Graphis, Infosystem-Hi Tech,
Kosmima, Philoxenia and the traditional Thessaloniki Trade Fair
in September.
Twenty one private exhibitions also were held.
[32] Customs co-operation agreement between Greece, Cyprus
Nicosia, 26/06/1997 (ANA)
A customs office delegation will meet a corresponding Cypriot
delegation tomorrow in order to initial an agreement on
co-operation and mutual assistance between the customs
administrations of Greece and Cyprus.
The Greek delegation is headed by General Director Socrates
Antoniou, while Customs Department Director Costas Hatziyiannis
heads the Cypriot delegation.
The agreement is part of the framework of creating a World
Customs Organization.
[33] Public sector hirings must be reduced, Papadopoulos says
Athens, 26/06/1997 (ANA)
The public sector should cut back on civil servants by hiring
the equivalent of only one employee for every five who depart or
retire, Interior, Public Administration and Decentralization
Minister Alekos Papadopoulos said yesterday.
In a circular to all ministries, the minister reiterated a law
passed this year according to which the total number of hirings
on an annual basis until 1999 should not exceed the ratio of one
hired employee to five leaving or retiring.
The law, however, excludes certain categories, for which there
is no such restriction, such as hirings in the education sector
(all levels), defense and security forces, port authorities and
hospital personnel.
[34] Olympic Airways inaugurates Athens-Budapest route
Athens, 26/06/1997 (ANA)
Olympic Airways (OA) unveiled a new route between Athens and
Budapest on Sunday.
OA president Nikolaos Blessios and managing director Iordanis
Karatzas said in Budapest that the state carrier's strategy was
to cover the rising tourist traffic between Greece and Hungary
and the needs of Hungarians wishing to travel towards the Middle
East, Africa, Asia and Australia.
Olympic also signed an extensive trade agreement with Hungarian
airlines Malev in order to provide full services for its
passengers.
In addition, OA officials announced that a new service between
Athens and Prague would be inaugurated in October.
End of English language section.
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