Athens News Agency: Daily News Bulletin in English, 97-06-27

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From: The Greek Press & Information Office, Ottawa Canada <grnewsca@sympatico.ca>

ATHENS NEWS AGENCY BULLETIN (No 1222), June 27, 1997

Greek Press & Information Office
Ottawa, Canada
E-Mail Address: grnewsca@sympatico.ca

CONTENTS

[01] Simitis confident of successful Athens 2004 bid

[02] Pangalos to visit Malaysia, Hong Kong

[03] President briefed on foreign ministry archive project

[04] Further cleanup of capital prior to 'Athens '97' decided

[05] Clerides to stop in Athens before NY talks

[06] Kaklamanis meets Patriarch of Alexandria

[07] Athens: FYROM 'lacks will' to resolve name issue

[08] Oslo urges Turkey towards respect for international law

[09] EU socialist finance ministers to meet in Athens

[10] Gov't reacts to Oymen statements

[11] Int'l environmental seminar opens on Halki

[12] Parliamentary observers delegation leaves for Tirana today

[13] Karamanlis

[14] Violence continues in southern Albania

[15] Australian FM in Athens today

[16] Premier outlines new ERS board's responsibilities

[17] KKE, DHKKI respond

[18] Broadcast ads must observe rules, gov't says

[19] Gov't, Left Coalition have little in common, Constantopoulos says

[20] Gov't announces more centers for drug prevention

[21] EU Education Ministers' Council concludes in Luxembourg

[22] Union FMs fail to formulate common positions on new members

[23] Tsohatzopoulos meets with Spyridon

[24] Press briefing

[25] Bulgarian president in Athens in early July

[26] Anthony Quinn to be honored on Crete

[27] Mortgage Bank focuses on services for expatriates

[28] Greenpeace congratulations to Gov't over solar power plant decision

[29] Greek delegation to visit Romania on June 29

[30] National Bank of Greece posts higher profits

[31] Profit-taking curbs rally on Greek bourse

[32] Olympic Airways to launch charter subsidiary

[33] Egypt to compensate Greeks who lost fortunes

[34] Tourism conference begins today

[35] Court finds Greece late to enact conservation rules

[01] Simitis confident of successful Athens 2004 bid

Athens, 27/06/1997 (ANA)

Mr. Simitis expressed complete satisfaction at the efforts so far of the "Athens 2004" bid committee and Angelopoulou-Daskalaki, in particular, following the briefing at the committee's headquarters at Zappeion Hall.

"We have a very good chance of being selected to stage the Games. From what the committee told me, we have a very good chance not only because of the excellent infrastructure, but also because we are proposing a different spirit for the Olympics. We do not want them to be a strictly athletic event, but rather a cultural event which highlights peace and friendship between peoples," Mr. Simitis said.

Noting that Greece had great experience in staging major sports events, Mr. Simitis said the hosting in Athens of the World Athletics Championship in August would serve as a general test.

"We shall show in August that Greece is capable of staging the Olympic Games," he said.

Replying to questions which have been aired concerning the cost of staging the Games, the premier stressed that it was an issue which could be "dealt with."

"We spend a great deal of money to promote our country with regard to tourism," he noted.

Mr. Simitis also expressed the view that the staging of the Olympics could help Greece in its national issues.

"There are always hotbeds of crisis, particularly in the Balkans. We can project the spirit of Olympism as a means of promoting peace and co-operation among peoples. Greece confronts all problems with a peaceful approach," Mr. Simitis said, expressing the hope that Athens would eventually be chosen.

[02] Pangalos to visit Malaysia, Hong Kong

Athens, 27/06/1997 (ANA)

On Sunday, Mr. Pangalos will fly on to Hong Kong to attend events marking the British handover of the city to China.

On July 2, Mr. Pangalos will pay a two-day official visit to Alma-Ata, the capital of Kazakhstan, for talks with the country's political leadership.

[03] President briefed on foreign ministry archive project

Athens, 27/06/1997 (ANA)

Mr. Stephanopoulos told reporters later that certain of the documents could be used by Greece to support its arguments against Turkish claims, saying they were "strong weapons".

A team of experts working on the documents has discovered documents related to the islands of Imvros and Tenedos, which are to be included in a file to be used at international organizations such as the United Nations.

Ms Constantopoulos said that the project was facing enormous difficulties due to the enormous number of documents requiring classification but said that progress had been made. She made pointed reference to the inclusion of three Turkish researchers on the project, noting that there were no Greek researchers working on Turkish archives. Two of the Turkish researchers are working on past population exchanges while the other is working on documents relating to the Greek Red Cross.

[04] Further cleanup of capital prior to 'Athens '97' decided

Athens, 27/06/1997 (ANA)

According to a draft plan presented by the member of the Central Organizing Committee (KOE) and Athens Deputy Mayor Angelos Moschonas at a KOE meeting yesterday, these regions include areas around the two airports; the Vouliagmeni, Syngrou, Poseidonos, Amfitheas, Karea and Veikou motorways; the wider area surrounding the Athens Olympic Stadium; the metro station "Eirini"; the areas along which the marathon and walking races will take place; the Panathenian Stadium in Athens; Zappeion Hall; the National Gardens; the Pedion tou Areos Square; the Peace and Friendship indoor stadium in Faliro and the nearby Karaiskaki stadium.

KOE decided not to have invitations issued on the days of the games, as is the case with all world athletics championships. Admission to the Athens Olympic Stadium will only be possible with tickets and with accreditation for individuals involved in organizing the events.

[05] Clerides to stop in Athens before NY talks

Athens, 27/06/1997 (ANA)

The spokesman did not specify the exact date of Mr. Clerides's visit.

[06] Kaklamanis meets Patriarch of Alexandria

Athens, 27/06/1997 (ANA)

The two men discussed problems facing the Patriarchate with special emphasis on increases in staff and missionaries.

[07] Athens: FYROM 'lacks will' to resolve name issue

Athens, 27/06/1997 (ANA)

Replying to reporters' questions, government spokesman Dimitris Reppas said that according to the government's information, Mr. Gligorov had submitted a proposal which was in effect a reiteration of its original position that his country should adopt the name which it currently uses, the "Republic of Macedonia."

Due to this stance on the part of Skopje, Mr. Reppas said, a problem has arisen because FYROM is not displaying the appropriate will to find a solution to the dispute between the two countries on the basis of their interim agreement.

Asked to comment on reports that Mr. Gligorov had been accused in FYROM of attempting to compromise with Greece, Mr. Reppas said the government did not intend to get involved in the domestic political disputes of the neighboring country.

[08] Oslo urges Turkey towards respect for international law

Athens, 27/06/1997 (ANA)

Ms Gronhdahl, who arrived here on Wednesday on a four-day official visit, was speaking to reporters after talks with her Greek counterpart, Apostolos Kaklamanis.

During the talks, Mr. Kaklamanis briefed Ms Grondahl on the situation in the Balkans, Greek-Turkish relations and the ongoing Cyprus problem. "The participation of our country in the peace force in Cyprus and in other peacekeeping missions in the Balkans and elsewhere constitute the practical expression of Norway's dedication and respect for the principles enshrined in the Charter and resolutions of the United Nations concerning peace, stability and security in the world," Ms Grondahl said.

On the Cyprus problem, Ms Grondahl asked Mr. Kaklamanis how he viewed the mission of newly appointed US presidential envoy for the issue, Richard Holbrooke.

Mr. Kaklamanis said all initiatives aimed at finding a settlement of the Cyprus problem were welcome, while stressing the need for a more active role by Europe in this direction.

Commenting on Greece's stabilizing role in the Balkans, Mr. Kaklamanis underlined that the only problem in the country's foreign relations was with Turkey, as a result of Ankara's expansionist policy at Greece's expense, with repeated provocations in the Aegean and Thrace.

The talks between Ms Grondahl and Mr. Kaklamanis also centered on bilateral economic and cultural co-operation as well as the functioning of the two countries' parliaments.

Both sides confirmed their desire to further develop relations through contacts at all levels.

Within this framework, Ms Grondahl invited Mr. Kaklamanis to pay an official visit to Oslo at the head of a parliamentary delegation.

Mr. Kaklamanis accepted the invitation.

[09] EU socialist finance ministers to meet in Athens

Athens, 27/06/1997 (ANA)

The meeting is organized by National Economy and Finance Minister Yiannos Papantoniou and will be attended by Prime Minister Costas Simitis.

The meeting will be held with the participation of British Chancellor of the Exchequer Gordon Brown, French Finance Minister Dominique Strauss-Kahn, Portuguese Finance Minister Antonio de Sousa-Franco, Italian Finance Minister Vincenzo Visco and Finnish

Finance Minister Arja Alho as well as former Swedish finance minister Kjell-Olof Feldt and former Irish finance minister and leader of the Irish Labor Party, Ruari Quinn.

Former European Commission president Jacques Delors will also participate at the meeting.

The focus of the meeting will be to find a clear socialist economic and social policy which will fall in line with the EMU and the single European currency while boosting growth and restricting unemployment. European Socialists have been calling for better coordination of EU economic policies through a political body which would be enhanced with the jurisdiction to consult with the European Central Bank, in an effort to put growth under political control and not in the hands of bankers and technocrats.

The meeting will also be attended by European officials, including the president of the European Committee of the German Parliament, the president of the Socialists in the Parliament of Luxembourg, an Austrian Socialist Party representative responsible for economic issues, the Vice-President of the European Parliament and economic experts.

Greek participants include PASOK Eurodeputy Paraskevas Avgerinos and professors Yiannis Spraos and Adamantios Pepelasis.

[10] Gov't reacts to Oymen statements

Athens, 27/06/1997 (ANA)

Stressing that Turkey was currently in a phase of "searching for balances," Mr. Reppas described Mr. Oymen's statements as "rash, imprudent and harmful for the two countries' relations."

"The famous Mr. Oymen, with his statements is putting his government up for ridicule and compromising his country which appears not to respect international law and international treaties," Mr. Reppas said.

[11] Int'l environmental seminar opens on Halki

Istanbul, 27/06/1997 (ANA - A. Kourkoulas)

The annual seminar falls under the aegis of the Ecumenical Patriarch Vartholomeos and Prince Philip, Duke of Edinburgh, in his capacity as honorary president of the World Wide Fund for Nature (WWF).

The seminar, which will last four days, aims to promote environmental awareness and social responsibility for world leaders.

Speakers and visitors include clergy, professors, politicians, representatives of the European Commission and other agencies.

Messages have been conveyed to the seminar by US President Bill Clinton, European Commission President Jacques Santer, Archbishop of Canterbury George Carey, Prince Philip and others.

[12] Parliamentary observers delegation leaves for Tirana today

Athens, 27/06/1997 (ANA)

For the same reason, four Greek Eurodeputies will travel to Albania. Ruling PASOK party deputy Eleftherios Veryvakis will be going to Albania as an observer with the Council of Europe.

Meanwhile, seven coaches carrying Albanian nationals intending to vote in Sunday's poll left for Albania yesterday from the northern port city of Thessaloniki.

The coaches were carrying almost 300 people but authorities say the number of those returning to vote has been small, probably due to the fear of attack from the armed gangs roaming the Albanian countryside.

[13] Karamanlis

Athens, 27/06/1997 (ANA)

[14] Violence continues in southern Albania

Reports from this Albanian city earlier yesterday said that Theodoros Bezianis, the former president of the local branch of the ethnic Greek "Omonia" party had been kidnapped near his village of Frastani.

The circumstances of the kidnapping were not immediately clear. Mr. Bezianis' daughter, who is standing for election in Sunday's poll as a candidate for the Human Rights Party, insisted that the kidnapping was politically motivated.

Mr. Bezianis, an American citizen, is one of five ethnic Greeks imprisoned in Albania in 1994 on charges of espionage and weapons possession after a gunman killed two Albanian soldiers in a conscript camp near the border.

Their arrest and conviction in August 1994 rekindled a simmering feud between Athens and Tirana over the human rights of the ethnic Greek minority in southern Albania, estimated by Athens at 400,000.

Albanian President Sali Berisha released one of the five on Christmas Eve 1994 and the remaining four - on appeal to Albania's Supreme Court - had their sentences reduced or suspended.

Mr. Bezianis' daughter said her father had been receiving threatening phone calls for the last few days to withdraw his candidacy. Her brother Costas Bezianis is the proprietor of the largest soft drink bottling plant in southern Albania and has also been the target of threats and attacks.

A later report from Ioannina said another ethnic Greek Albanian, Vassilis Kremydas, the president of the Examilia community and brother-in-law of the former president of "Omonia" Sotiris Kyriazatis, had been kidnapped by armed men in Sarande.

The report said the kidnappers had asked for a ransom of 40 million drachmas by today or Mr. Kremydas would be killed.

[15] Australian FM in Athens today

Athens, 27/06/1997 (ANA)

[16] Premier outlines new ERS board's responsibilities

Athens, 27/06/1997 (ANA)

The new ERS board held its first meeting yesterday.

Stressing the importance of the harmonious operation of the mass media in a democratic society, the premier went on to elaborate on government efforts to establish a "credible," institutional framework to replace what he called the "chaos" which was brought about in the media market in Greece following the deregulation of the mass media.

Mr. Simitis said the government was trying to formulate a "reliable and sound" institutional framework that would put an end to the uncontrolled growth of radio and television in Greece by founding the ERS, among other measures.

Specifically, he called on ERS board members to pay particular attention to the granting, with transparent procedures, of broadcast licenses based on the quality of a station's programming and its financial viability, while ensuring that stations' finances stand up to scrutiny.

Other responsibilities the premier said should be exercised by the ERS board include the monitoring of stations so that broadcasters' respect privacy and human dignity and that a standard of quality for programs is ensured.

ERS' new president, Stephanos Kasimatis, said council members were burdened with a heavy task, adding that he didn't anticipate success to come easy.

"I do not wish for legality and ethics to be imposed by sanctions," he said. "That would not make us happy."

He also made an appeal to mass media owners to "actively help to overcome current problems," while calling on journalists to assume responsibility for better quality in the mass media field.

[17] KKE, DHKKI respond

Athens, 27/06/1997 (ANA)

"The prime minister has once more confirmed that the PASOK government would not be willing to assume responsibility for the miserable phenomena which are reproduced daily by certain major private channels, and to have a clash with the mass media enterprises," KKE political bureau representative Makis Kopsidis said.

Democratic Social Movement (DHKKI) President Dimitris Tsovolas said that Mr. Simitis' address to the council's meeting was a "monument of hypocrisy."

DHKKI is the only party in Parliament not represented on the council.

According to sources, DHKKI will apply for an injunction against the ERS board to gain representation on the board.

[18] Broadcast ads must observe rules, gov't says

Athens, 27/06/1997 (ANA)

In a letter to the ERS board, Mr. Reppas said there were detailed instructions as to the day and time zones as well as programs during which advertisements could be aired.

The council had the obligation to monitor advertisements on a daily basis, he added.

[19] Gov't, Left Coalition have little in common, Constantopoulos says

Athens, 27/06/1997 (ANA)

The Coalition's positions on regional decentralization with self-government, the results of the inter-governmental conference, plans to revise the Constitution and Mr. Constantopoulos' recent call for dialogue between ruling party PASOK, the Democratic

Social Movement (DHKKI) and the Communist Party of Greece (KKE) were the focus of the meeting yesterday.

"Our party has different approaches on these issues," the Coalition leader said. "The government has to move towards more progressive policies."

His call for dialogue between the leftist parties represented in Parliament has apparently come to a dead end, with DHKKI and KKE replying negatively.

Mr. Simitis listed to the proposal for dialogue but did not respond, Mr. Constantopoulos said. "The Coalition is awaiting an official response from (ruling) PASOK and the government".

He said the Coalition differed from the government on the issue of the election of the president of the republic, saying that the Coalition insisted that the president be elected by a two-thirds majority and not a simply majority as proposed by the government.

He complained to the prime minister that there should have been a parliamentary debate on the inter-governmental conference before the Amsterdam summit.

Mr. Constantopoulos however said he supported a recent proposal for a one-off tax on company profits, included in the recently-released Spraos report on convergence for the Greek economy.

[20] Gov't announces more centers for drug prevention

Athens, 27/06/1997 (ANA)

In another development, the Communist Party of Greece (KKE) launched a new attack against Alternate Foreign Minister George Papandreou, who in an interview yesterday, said people who are already users of hashish should be given the possibility to cultivate the drug for their own exclusive use.

Replying to questions on Mr. Papandreou's views, Mr. Reppas said George Papandreou expressed his personal positions, adding that the government's positions are known.

Mr. Reppas further said there should be closer co-operation between the state, economic bodies and citizens to facilitate the handling of the serious problem posed by illegal drugs.

KKE criticized Mr. Papandreou for his "known positions on the free cultivation of hashish" and considers the government jointly responsible for "tolerating such statements by one of its ministers."

[21] EU Education Ministers' Council concludes in Luxembourg

Luxembourg, 27/06/1997 (ANA)

The council's agenda included the implementation of the "Socrates Program", the learning of foreign languages and the guarding of schools.

Referring to the program, Mr. Anthopoulos told the council that allocations to education should be increased since "it was best to invest in the human factor". He stressed the program's budget had been cut, in spite of the favoring position of many member-states.

Replying to reporters' questions in relation to "open universities", Mr. Anthopoulos said that it was fully understood that university degrees did not open the door to a position in the public sector.

[22] Union FMs fail to formulate common positions on new members

Luxembourg, 27/06/1997 (ANA)

The reason lies in the fact that it had not been possible to obtain common views from the 15 member-states to enable the Dutch presidency to announce the EU's targets in relation to the gradual accession of candidate third countries, as initially expected.

Alternate Foreign Minister George Papandreou said a French proposal for a permanent conference of various member-states and Turkey was rejected because all the partners expressed their reservations. All EU member-states and candidate countries for accession are now awaiting the European Commission's decisions on July 15, which will refer to the prospects of each candidate country for accession.

Mr. Papandreou said the European Commission's avises will be ready on the above date, adding that the message which must be sent to the third countries is that we support their European orientation on the known preconditions, of course.

Referring to Cyprus, Mr. Papandreou said it is certain that accession negotiations will start six months after the end of the Intergovernmental Conference. He said the new Treaty will be signed by member-states in October. Consequently, negotiations for its accession will start in March or April.

The member-states agreed during the General Affairs Council that after general elections are held in Albania, specific moves must be made on behalf of the EU to consolidate peace, legality and democracy in the country.

In an another development, the Council began with a discussion of the issue of employment. Luxembourg, which takes over the presidency from the Netherlands on July 1, called on the governments of member-states to discuss the issue with social partners such as employers and unionists before the extraordinary European Council on the issue, to be held later in the year.

Discussion was also held on creating a Common Foreign and Security Policy for planning and communication as well as the incorporation of the Schengen general secretariat into the Council of Ministers secretariat.

The earlier sessions also discussed follow-up to the Amsterdam summit, and the procedures involved in having the Treaty translated into all EU languages.

[23] Tsohatzopoulos meets with Spyridon

New York, 27/06/1997 (ANA - M. Georgiadou)

"I am pleased because this visit illustrates the standing will of Greece and the Greek government to keep ties with the overseas Greek community alive and to strengthen them as much as possible to make them indissoluble," Spyridon said.

Mr. Tsohatzopoulos said the meeting gave him an opportunity to brief the archbishop on "new conditions and new challenges" facing Greece and to brief him on his contacts so far with US officials.

He said that the US Greek community had always been supportive of Greece. "The thing we are obliged to do is to brief them (the US Greeks) on where we are, what our goals are ... We are trying with success for an equal position in the European Union, undertaking responsibilities and meeting these responsibilities, protecting security, co-operation and stability in the Balkans, whether it be in Bosnia, or Albania," he said.

He said Greece wanted pressure to be brought to bear on "provocative Turkish behavior which undermined stability in the region of which we have need not only in Greece but in the entire region."

[24] Press briefing

New York, 27/06/1997 (ANA)

The minister referred to yesterday's meeting with members of the "Wall Street Journal's" editorial board, adding that the meeting was especially friendly, while he said Greece's stabilizing role in the Balkans seemed to have been understood in the US.

Mr. Tsohatzopoulos stressed that Greece was focusing its attention on Turkey's recent activities, such as the questioning by Ankara of Greece's sovereignty of the Imia islets, and cautioning about the danger of a more general destabilization in region.

"Turkey's revisionist tactic was not a Greek problem", the defense minister said.

Referring to developments in Bosnia, Mr. Tsohatzopoulos told US officials "it would be unwise not to complete such an 'investment' in security by allowing an untimely withdrawal of the multinational force from Bosnia".

Last night he met representatives of several Greek-American organizations and addressed a gathering in Astoria.

[25] Bulgarian president in Athens in early July

Sofia, 27/06/1997 (AFP/ANA)

[26] Anthony Quinn to be honored on Crete

Athens, 27/06/1997 (ANA)

Mr. Quinn will attend a ceremony on Saturday in Rethymno, during which he will receive the "Letters and Arts Award" by the municipality.

"I have lived some of the happiest days of life here", he told reporters in Irakleio yesterday, adding: "During the shooting of 'Zorba the Greek' I made many Greek friends".

The award, established two years ago, is given to prominent personalities whose presence in Greece has honored and promoted the country internationally through an art form. Irene Papas had received the award two years ago.

[27] Mortgage Bank focuses on services for expatriates

Montreal, 27/06/1997 (ANA - I. Fragouli)

Mortgage Bank Governor Vassilis Rapanos announced the focus on expatriates while on a visit to Toronto yesterday for contacts with the area's ethnic Greeks.

The visit also coincides with the bank's 70th anniversary.

A bank delegation visited Montreal and Quebec last Monday and briefed Greek community representatives on the bank's new products. Mortgage Bank officials stressed that as part of its reorganization, the bank has been considering the creation of a special department to cater for the specific needs of its overseas customers.

[28] Greenpeace congratulations to Gov't over solar power plant decision

Athens, 27/06/1997 (ANA)

In his letter to the Greek premier, Mr. Bode referred to the positive measures taken by the government on the improvement of renewable energy sources and especially the building of the world's largest solar photovoltic electric power plant on Crete. The Greenpeace official described the power plant as a unique, historical achievement.

He said that in view of the Kyoto meeting, next December, it was vitally important for governments to be able to implement a series of alternative practices in the efforts to reduce emissions agravating the greenhouse effect.

Finally, Mr. Bode called on Greece to continue playing a leading role in solar systems, taking advantage of the economic benefits involved in investments and new job positions.

[29] Greek delegation to visit Romania on June 29

Athens, 27/06/1997 (ANA)

The delegation will be headed by ministry general secretary, Chryssa Manolia, and will include representatives of economic and productive agencies of northern Greece.

The mission is within the framework of initiatives being undertaken by Greece for the development of a climate of peace and co-operation between the peoples of the region and is the first in a series of planned visits to the Balkan countries by the Inter -Balkan Co-operation Committee.

During the visit to Bucharest, Ms. Manolia will have talks with her counterparts at the Romanian ministries of reform, industry and energy, culture and tourism.

[30] National Bank of Greece posts higher profits

Athens, 27/06/1997 (ANA)

Presenting last year's results to the annual shareholders meeting, Mr. Karatzas said that consolidated net profits were 127.3 billion drachmas from 93.3 billion the year before, up 36.4 percent.

The bank's share price jumped 145 percent since the start of the year compared with a 92 percent rise of the banking index on the Athens Stock Exchange, Mr. Karatzas said.

National Bank of Greece's pre-tax profits almost doubled in the first five months of 1997 totaling 24.1 billion drachmas from 12.1 billion in the corresponding period last year.

Mr. Karatzas said the bank had changed since last year due to modernization and major cuts in operating expenses.

The bank's workforce shrank to 14,832 in 1996 from 15,178 in late 1995, he said

National Bank will hold a share capital increase by the end of the year in order to boost its capital base and increase its solvency rating to 14 percent from 9-10 percent.

The bank also plans to open new branches in Sofia, Bucharest and Tirana and launch a new round of expansion in the Balkans focusing on Skopje and Belgrade.

Mr. Karatzas also said the bank wouldn't hesitate to ease interest rates further, conditions allowing. He expressed satisfaction over progress in the economy, and optimism over the Greek stock market's future.

[31] Profit-taking curbs rally on Greek bourse

Athens, 27/06/1997 (ANA)

The general index closed at 1,530.34 points, down 0.86 percent, reflecting losses in the banking sector, off 1.82 percent. Trading was extremely heavy with turnover at 40.8 billion drachmas.

Other sectors ended mixed. Insurance rose 2.88 percent, Leasing increased 0.24 percent, Investment ended 0.09 percent up, Industrials were 0.91 percent higher, Construction rose 0.81 percent, Holding fell 1.68 percent and Miscellaneous dropped 1.12 percent. The Parallel Market index eased 0.41 percent.

Shares of Hellenic Telecommunications Organization (OTE) again lost ground to end at 6,300, off 150 drachmas.

Broadly, decliners led advancers by 123 to 92 with another 32 issues unchanged.

Papoutsanis, Etem, Interinvest and National Insurance scored the biggest percentage gains, while Bank of Central Greece, Elviemek and Lampsa suffered the heaviest losses.

National Bank of Greece ended at 34,400 drachmas, Ergobank at 16,800, Alpha Credit Bank at 18,950, Titan at 12,890 and Intracom at 12,525 drachmas.

[32] Olympic Airways to launch charter subsidiary

Athens, 27/06/1997 (ANA)

Speaking at an inauguration ceremony for new facilities at Macedonia airport in Thessaloniki, Mr. Kastanidis said the new charter firm would be a subsidiary of the Olympic Airways Group.

State-run Olympic Airways would improve services by launching a two-year restructuring program in the autumn, he said. The four-billion drachma project at Macedonia airport includes extension of the main passenger lounge and arrivals and departure halls, and facilities for handicapped people.

Scheduled for tendering by end-year are 11 billion drachmas of projects. They include runway improvements and extension of the airport's main building to incorporate the control tower and house the new charter subsidiary, Mr. Kastanidis said. The projects would help to transform Macedonia into an international airport, he said.

[33] Egypt to compensate Greeks who lost fortunes

Athens, 27/06/1997 (ANA)

The seminar focused on trade between the two countries, Egyptian investments in Greece, the creation of joint ventures between Greek and Egyptian businesses, and co-operation in the banking sector.

In his address, EBEA president Yiannis Papathanasiou outlined the longtime relations between the two countries and expressed his confidence in strengthening economic, trade and social ties.

Egypt's ambassador in Athens Samir Self El Yazal said Cairo was willing to compensate Greek-Egyptians who lost their fortunes when they fled from Egypt several decades ago.

He also noted problems standing in the way of closer relations, in particular obtaining visas for Egyptians.

Greek and Egyptian businessmen held several meetings during the seminar.

[34] Tourism conference begins today

Athens, 27/06/1997 (ANA)

Among others, addresses will be made by British Trade Under-secretary Nigel Griffiths responsible for competition and consumer issues , Greek Tourist Organization (EOT) Secretary-General Nikos Skoulas, tour operators and other specialists on tourist issues.

[35] Court finds Greece late to enact conservation rules

Luxembourg, 27/06/1997 (Reuter/ANA)

Greece did not deny the directive was not transposed within the two year period between June 1992 and 1994 but argued that the delay in implementation was attributable to technical legislative problems.

The court strictly applies member state responsibility for transposing Community law into member state law within the time period laid out in European Union Council of Ministers directives.

End of English language section.

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