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Athens News Agency: Daily News Bulletin in English, 97-07-17

Athens News Agency: Daily News Bulletin in English Directory - Previous Article - Next Article

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

ATHENS NEWS AGENCY BULLETIN (No 1239), July 17, 1997

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


CONTENTS

  • [01] Cyprus welcomes EU confirmation of accession negotiations
  • [02] European Commission
  • [03] Turkish reaction
  • [04] Gov't: Unable to provide more financial support to farm sector
  • [05] Gov't spokesman on Arsenis letter regarding communiqui
  • [06] Kranidiotis secures agreement for rare icon exhibition in Greece
  • [07] Tsohatzopoulos in Armenia details Turkey's destabilizing role
  • [08] Greek-Argentine agreement on nuclear energy
  • [09] State Dept. on US delegation's tour of region
  • [10] Airspace violations by Turkish warplanes
  • [11] New nominee for State Dept. spot comments on Greek-Turkish relations
  • [12] High attendance recorded at Mount Athos exhibition
  • [13] SAE addresses letter to Clinton on Cyprus issue
  • [14] Gold medal in water polo at World Championship
  • [15] Old US base to serve as filmmaking center
  • [16] New airport opens in Crete
  • [17] Kaklamanis receives young French philhellenes
  • [18] Greece prepares tight fiscal policy for 1998
  • [19] Greek Gov't urges price restraint
  • [20] Ionian delegation returns from FYROM visit
  • [21] Tourism associations call for more direct involvement by premier
  • [22] Greek stocks sink on selling pressure
  • [23] Foreign currency inflows hit drachma
  • [24] EU approves state aid for Greek shipyards
  • [25] Earthquake in Aegean
  • [26] Price ceiling for soft drinks, water to combat profiteering
  • [27] Greece offers assistance in Turkish plane crash

  • [01] Cyprus welcomes EU confirmation of accession negotiations

    Nicosia, 17/07/1997 (ANA/CNA)

    President Glafcos Clerides welcomed yesterday the European Commission reaffirmation that accession talks with Cyprus will start next year, while he expressed a firm belief that US presidential envoy on the issue Richard Holbrooke did not support the linking of accession talks with a solution to the Cyprus issue.

    Speaking on his return to Cyprus, President Clerides said Mr. Holbrooke had twice reassured him that there was no link of the two, and he was very clear about it.

    Commenting on his meeting with Mr. Holbrooke in New York, Mr. Clerides said they exchanged views on the proceedings in Troutbeck and agreed it is too early to reach any conclusions.

    He also said he expressed his satisfaction to Mr. Holbrooke for the latter's initiative on Cyprus.

    Mr. Clerides dismissed Turkish threats it will annex the occupied part of the island if the Republic joins the European Union (EU), calling on the press to give little notice to the issue, so "Turkey doesn't think we are afraid" of such threats.

    "We are perplexed by these threats and have taken all necessary measures," in the diplomatic field, he said.

    Referring to the UN-led direct talks in Troutbeck, he said they took place in a "very good atmosphere", but no substantial progress was made on the Cyprus issue.

    Describing Cyprus' EU accession process as "a catalyst towards a solution to the Cyprus problem", Mr. Clerides said it would be preferable if a solution was reached before accession, stressing, however, this should not be a precondition.

    Commenting on the first round of UN-led direct talks with Turkish Cypriot leader Rauf Denktash, held last week in Troutbeck, near New York, President Clerides said the atmosphere was good but "there were no developments on the substance of the Cyprus problem".

    He noted, however, that he "did not expect any developments, as it is still too early".

    "A process has started and is continuing", President Clerides said, pointing out that "progress will occur when the gap between the position held by the two sides is bridged".

    He explained that the UN Secretary General's special advisor on Cyprus Diego Cordovez, who coordinated the talks, prepared "a non-paper that will become a paper if the two sides agree to it", adding that the Greek and Turkish Cypriot sides submitted their observations and Mr. Cordovez made certain changes.

    The two sides, he said, will study the non-paper and then express their positions at the next round of talks in Switzerland, in mid-August.

    "I will not publicly comment on the non-paper which will be discussed at the National Council (top advisory body to the government on the Cyprus problem) meeting", President Clerides said, noting he did not consider public statements to be wise at this stage.

    The National Council is schedule to convene on July 24, to discuss developments in the Cyprus issue during the talks.

    President Clerides also referred to his proposal for a meeting with Mr. Denktash in Nicosia, under the auspices of UN resident representative Gustave Feissel, in order to discuss humanitarian issues, especially that of persons missing since the Turkish invasion.

    Noting that there is no agenda for the Nicosia meeting, the President said issues such as that Greek Cypriots enclaved in the northern Turkish-occupied part of the island were discussed in Troutbeck.

    Referring to Tuesday's meeting in London, with British Prime Minister Tony Blair, President Clerides said Mr. Blair repeated earlier promises to assist efforts towards a Cyprus settlement as well as the republic's accession to the EU.

    [02] European Commission

    Brussels, 17/07/1997 (ANA)

    In presenting the "Agenda 2000" for EU enlargement before the European Parliament yesterday, EU Commissioner Hans van den Broek pointed out that the Commission cannot hold Cyprus hostage due to lack of co-operation by the Turkish side on a settlement to the protracted Cyprus problem.

    Replying to a question by a Turkish reporter afterwards, Mr. van den Broek also reiterated that the EU decision to open accession negotiations with Cyprus is not new, but was taken in March 1995. He underlined that the EU has often expressed its interest in a solution to the Cyprus question and is cooperating with the UN in this direction.

    The report, named "Agenda 2000", notes that membership negotiations for an expanded EU will begin with Cyprus, Poland, Hungary, the Czech Republic, Estonia and Slovenia next year.

    In his reference to Cyprus during the report's presentation, the commissioner said "the Commission delivered a favorable opinion in 1993 on Cyprus' application for membership and has reaffirmed on several occasions that accession negotiations should start six months after the conclusion of the Intergovernmental Conference", which took place in Amsterdam in June.

    "The division of the island, of course, raises problems in the context of enlargement but we hope that the prospect of accession will provide a catalyst to bring about a just and lasting settlement", he added.

    The Dutch Commissioner expressed hope that the UN-led direct negotiations held on the Cyprus issue in Troutbeck last week between President Glafcos Clerides and Turkish Cypriot leader Rauf Denktash, would open a process leading eventually to a settlement .

    "A settlement of the Cyprus problem will permit a faster conclusion to accession negotiations, and these negotiations will be facilitated if sufficient progress is made towards a settlement to permit representatives of the Turkish Cypriot community to b e involved in the accession process," he added.

    Mr. van den Broek also pointed out that there are "encouraging signs" for better relations between Greece and Turkey and said "we are looking to Turkey to contribute actively to a just and lasting settlement in Cyprus".

    On his part, European Commission President Jacques Santer presented the publication, constituting the Commission's comprehensive response to requests from the European Council meeting in Madrid in December '95.

    Responding to press questions regarding Turkey's European prospects, Mr. Santer said Turkey did not meet the criteria for full membership in the European Union.

    Commenting on the same issue, Mr. van den Broek said that the European Union was aware of Turkey's leading role in Asian and Balkan regions.

    "But there are serious economic and political problems, especially in the sector of human rights," he said. Commenting on a recent threat by Ankara to take countermeasures if talks were to begin for a Cyprus-EU accession, Mr. van den Broek said that Ankara's attitude could not be accepted, adding that talks for Cyprus' EU membership for Cyprus had already been decided.

    "We want to find a solution to the Cyprus problem and we hope that negotiations for Cyprus' accession to the EU will positively contribute in this direction," he added.

    [03] Turkish reaction

    Istanbul, 17/07/1997 (ANA)

    Meanwhile, according to a Reuters dispatch from Istanbul, Deputy Prime Minister Bulent Ecevit said yesterday that Turkey would respond sharply if plans to bring Cyprus into the European Union weakened the position of Turkish Cypriots.

    "Any step taken in connection with Cyprus which we or Turkish Cyprus do not accept will be more than met by our own steps", Mr. Ecevit told a meeting of his leftist party's MPs.

    He warned on Tuesday that the Turkish-occupied north of the divided island would be integrated into Turkey if the EU went ahead with membership talks with the Cypriot government as planned next year.

    In a later statement by Turkish Foreign Minister Ismail Cem, Ankara appeared to be toning down its reaction. Mr. Cem said relations with the Union are too important to be exhausted by one decision alone.

    "We must not exaggerate the significance of the European Commission's decision," Mr. Cem said, stressing that he hopes the decision will not be taken into consideration by the EU's Council of Ministers.

    "The initial substantive figures (on enlargement) will be known by the end of October, while we will have a clearer picture in December," he added.

    Mr. Cem went on to say that "this case is as important to us as it is for the EU", adding that "let them think about it and move in the direction of their own interests.

    "We cannot wait with our arms folded and lamenting our fortune to join the EU on such and such a date, in the year 2000 or in 2010," he said.

    Replying to questions yesterday, Mr. Cem said the European Commission's report is of an "advisory" nature, but did not conceal Ankara's disappointment because Turkey is not among the six countries with which the Commission proposes a start to accession negotiations and because the Republic of Cyprus is included, or the "Greek Cypriot side", as officially stated in Ankara.

    "The developments do not live up to the expectations of Turkey," he said and reminded that the positive climate which existed in the past over Turkish EU accession no longer exists.

    "The European Commission's decision must not turn into a pathological obsession," he said, adding that "this fact is not the end of the world. We will continue our development."

    [04] Gov't: Unable to provide more financial support to farm sector

    Athens, 17/07/1997 (ANA)

    The state will continue to help farmers but can no longer offer additional financial support, Prime Minister Costas Simitis said yesterday in addressing a meeting of PASOK farm sector unionists.

    The theme of the meeting at a downtown Athens hotel was "The Farmers' Movement, New Views Under New Circumstances and Options", with Mr. Simitis as the keynote speaker.

    The prime minister strongly criticized the farm sector unionists for clinging, as he said, to "old mentalities, and for refusing to follow rapid developments in the world economy."

    The time of plenty has finished, Mr. Simitis said, adding that the Greek economy can no longer include state-supported cooperatives which rely on state hand-outs.

    Greece's agricultural economy needs large, strong cooperatives to contribute positively to the national economy. Modernization, a reform of the sector and restructuring are imperative for such cooperatives to be formed, he said.

    PASOK considers farm cooperatives a major choice, Mr. Simitis said, saying their presence would result in a decisive policy of great infrastructural changes as well as a new, long-range farm reform that will aim at modernizing the sector.

    Mr. Simitis said that during the decade of the 1980s, PASOK accomplished a number of things for agriculture sector, but did not manage to give the sector the push it needed, preventing cooperatives today from being competitive in the face of international markets.

    The meeting was also addressed by party Secretary Costas Skandalidis, Agriculture Minister Stephanos Tzoumakas and Agricultural Bank of Greece deputy governor Thanassis Papageorgiou, among others.

    On his part, the agriculture minister criticized farmers for what he called their contributing to the delay of the government's efforts to implement a farmers' registry. He said farmers either avoided recording their tax identification number, or their profession or even that of their wives, when filling out requisite forms.

    Mr. Tzoumakas said a committee would be set up soon to draft a new legal framework for cooperatives.

    In another development, he also said another committee would be established a draft bill for transferring the responsibility of fighting forest fires to the public order ministry and the fire brigade.

    Referring to a recent outbreak of fires in Greece, Mr. Tzoumakas said the issue had been discussed at a private meeting with Mr. Simitis. He added that the resignation submitted by ministry secretary general Elias Beriatos was not accepted.

    Mr. Beriatos had submitted his resignation following the huge fire of Seikh Sou near Thessaloniki, which destroyed almost half of the urban forest.

    In his address to the meeting, Mr. Skandalidis outlined some of the details concerning cooperatives, reiterating that they should free themselves from state dependence and avoid linking themselves to party interests.

    They must also have their own capital, the lack of which was a main cause of their being in heavy debt today, and avoid placing higher prices on produce than what the market calls for.

    [05] Gov't spokesman on Arsenis letter regarding communiqui

    Athens, 17/07/1997 (ANA)

    Government spokesman Dimitris Reppas yesterday said that a letter sent by Education Minister Gerassimos Arsenis to Prime Minister Costas Simitis regarding the joint communiqui between Greece and Turkey detailed the minister's views on the issue.

    Mr. Arsenis sent a letter to the premier on Tuesday setting out his disagreement with certain aspects of the government's handling of Greek-Turkish relations.

    "It is Mr. Arsenis' choice and it does not under any circumstances constitute any form of opposition," Mr. Reppas said.

    [06] Kranidiotis secures agreement for rare icon exhibition in Greece

    Alexandria, 17/07/1997 (ANA - V. Mourtis)

    A major exhibition of Byzantine-era icons from the famed Monastery of St. Catherine in the Sinai will be displayed in Greece this September, following a verbal agreement here yesterday between visiting Foreign Under-secretary Yiannos Kranidiotis and Egyptian officials.

    Mr. Kranidiotis, who yesterday began a six-day Mideast tour in Egypt, concluded his meetings with political leaders in Cairo and Alexandria.

    The minister said the exhibition agreement would be signed on July 22, while the exhibition is scheduled to be inaugurated at the Byzantine Museum of Athens on September 19. The icons are part of "The Glory of Byzantium" exhibition, which ended recently at the Metropolitan Museum of Art in New York.

    Mr. Kranidiotis had the opportunity to visit St. Catherine's yesterday for a guided tour through the monastery, which possesses rare manuscripts and icons dated from the reign of Byzantine Emperor Justinian.

    Today he is scheduled to meet Patriarch Petros of Alexandria and All Africa, as well as members of the ethnic Greek community.

    Mr. Kranidiotis' tour will focus on improving relations with Mideast countries and promote Greece's role in assisting with the region's peace process.

    Later today he will depart for Beirut, where he is scheduled to meet with Patriarch Ignatios of Antioch and the Archbishop of Beirut. He will also meet with Lebanese foreign ministry officials tomorrow.

    [07] Tsohatzopoulos in Armenia details Turkey's destabilizing role

    Yerevan, 17/07/1997 (ANA - D. Konstantakopoulos)

    National Defense Minister Akis Tsohatzopoulos yesterday referred to what he called Turkey's destabilizing attitude, during his official visit here.

    He also cited Ankara's refusal to contribute towards a solution to the Cyprus issue and the dispute of the status quo and Greece's sovereign rights in the Aegean.

    Mr. Tsohatzopoulos held talks with his Armenian counterpart and Armenian President Levon Ter Petrosian, the prime minister and the foreign minister, all of which focused on ways of handling Ankara's destabilizing activities, co-operation between Athens and Yerevan in the framework of NATO's "Partnership for peace" program and the creation of regional security institutions in the Balkans and the wider Caucasus region.

    The Greek minister underlined the latter, explaining that the creation of similar institutions, supplementary for those already existing (such as NATO, the West European Union, etc.) is necessitated by security needs in the new international environment, which has resulted in the wake of changes in eastern Europe.

    Commenting on the agreement concluded in Madrid, Mr. Tsohatzopoulos termed its signing "a positive element" but added, however, that "it remains to be confirmed in practice."

    Mr. Tsohatzopoulos said that what is required in the face of the "destabilizing attitude" is "the ability to mobilize international organizations" on the one hand and "the support and strengthening of the armed forces" on the other.

    "Only a strong defense can allow a country whose sovereign rights are at risk to confront and avert such a threat," Mr. Tsohatzopoulos said.

    Referring to the examples of Cyprus and Nagorno-Karabakh, he pointed out and warned that the international community does not always use international law in the same way and very often resorts to double standards.

    The two sides confirmed the importance they attribute to the strategic position of the two friendly countries and peoples and widened the basis of the two defense ministries' co-operation in the framework of the existing defense agreement between the two countries.

    In a statement to the Athens News Agency (ANA), Armenian Defense Minister Vezgen Sarksian said there is no question of Armenia being a candidate for NATO membership, either now or in the future, adding that he doubted whether the alliance would desire Armenia's accession.

    [08] Greek-Argentine agreement on nuclear energy

    Athens, 17/07/1997 (ANA)

    An agreement between Argentina and Greece on the peaceful use of nuclear energy will be signed at noon today at the initiative of the Greek Atomic Energy Committee.

    A press conference by Argentine ambassador Francisco Jorge Bullrich will follow at the embassy in Athens.

    Prof. Anastasios Katsanos will sign the agreement on behalf of the Greek government, while Mr. Bullrich will sign on behalf of Buenos Aires.

    Argentina produces and supplies nuclear reactors, radioisotopes and nuclear fuel while attributing increased importance to research, the overall development and peaceful uses of nuclear energy as well as studies for recycling nuclear fuel.

    [09] State Dept. on US delegation's tour of region

    Washington, 17/07/1997 (ANA - T. Ellis)

    US State Department spokesman Nicholas Burns referred to a tour of Athens and Ankara by several US government officials during a press briefing yesterday.

    Mr. Burns said the US delegation, headed by high-ranking State Department official Greg Craig, includes the State Department Assistant Director for Southern Europe Peter Petrihos and Myriam Shapiro from the National Security Council. The US officials are expected to focus on bilateral relations between the US and Greece and Turkey as well as with regional issues in general, such as the Aegean.

    Replying to a question, Mr. Burns assessed that this mission must not be considered as being limited to examining the recent Madrid communiqui but, on the contrary, has wider targets.

    Responding to another question, he reiterated that the position of the US concerning the Cyprus issue continues to be support "for the reunification of Cyprus into a bi-zonal, bi-communal federation."

    [10] Airspace violations by Turkish warplanes

    Athens, 17/07/1997 (ANA)

    A group of 10 Turkish F-16 and F-4 warplanes yesterday infringed Athens FIR regulations and violated Greek airspace over the Aegean between the islands of Limnos and Lesvos, sources said.

    In each case, the Turkish warplanes were identified and intercepted by Greek fighters.

    [11] New nominee for State Dept. spot comments on Greek-Turkish relations

    Washington, 17/07/1997 (ANA)

    New US Assistant Secretary of State-designate for European and Canadian Affairs, Mark Grossman, assessed on Tuesday that solution to the Cyprus issue and settlement of Greek-Turkey problems in the Aegean constitute two considerable challenges for US foreign policy in the post-Cold War era.

    Mr. Grossman made those comments during his confirmation hearing in front of the US Senate Foreign Relations Committee. He said the Madrid communiqui was a very good start and a further improvement in Greek-Turkish relations must be built on it, adding that Turkey needs better relations with Greece.

    Mr. Grossman, who completed his term as ambassador to Ankara several weeks ago, will replace John Kornblum in the position.

    Richard Holbrooke held the same post before Mr. Kornblum's term.

    [12] High attendance recorded at Mount Athos exhibition

    Athens, 17/07/1997 (ANA)

    More than 30,000 people have already visited the exhibition "Treasures of Mount Athos" since it opened some three weeks ago at Thessaloniki's Byzantine Museum.

    The exhibition marked the first time in the monastic community's 1,000-year history that most of the priceless artifacts had ever left the autonomous peninsula in Halkidiki prefecture, as well as being the first opportunity women have had to see the treasures from the strictly all-male community.

    [13] SAE addresses letter to Clinton on Cyprus issue

    Montreal, 17/07/1997 (ANA- I. Frangouli)

    The World Council of Overseas Hellenism (SAE) yesterday sent a letter to US President Bill Clinton on the anniversary of the 1974 Turkish invasion on Cyprus, calling for the restoration of unity on the island republic.

    In the letter, the SAE members also congratulated Mr. Clinton for his initiative at bringing Prime Minister Costas Simitis in contact with Turkish President Suleyman Demirel during the NATO summit in Madrid last week.

    "As American citizens we demand the restoration of democracy and the return of refugees to their homes," the letter read.

    "We demand the end of the partition of Cyprus and the destruction of Christian Churches in its northern section, and the punishment in international courts of all those who perpetrated crimes from 1974 to the present," the SAE members added.

    SAE also sent a letter to Mr. Simitis asserting the undivided support of Greek-Americans on national issues.

    [14] Gold medal in water polo at World Championship

    Athens, 17/07/1997 (ANA)

    The Greek women's under-22 national water polo team won the gold medal at the World Championships in Prague after beating Australia 6-5 in the final. The United States won third place after beating Hungary 6-5 after extra time.

    [15] Old US base to serve as filmmaking center

    Athens, 17/07/1997 (ANA)

    The area of the former US naval base at Nea Makri, eastern Attica, will be transformed into a studio city in order to house all the country's filmmaking activities under one roof, Culture Minister Evangelos Venizelos said yesterday.

    Mr. Venizelos said the decision had been taken with the approval of Nea Makri's mayor and following a suggestion by noted Greek director Theodoros Angelopoulos.

    During a regular briefing to the press yesterday, Mr. Venizelos also said he had proposed that poet Ioulita Iliopoulou, the companion of late Nobel-laureate poet Odysseus Elytis, take a seat on the board of the Orchestra of Colors.

    The seat became vacant after the adopted son of renown composer Manos Hatzidakis, who had founded the orchestra, resigned recently over disagreements about its repertoire.

    The culture minister is also scheduled to visit Athens' Olympic Stadium to be briefed on preparations for the World Athletics Championships, scheduled to take place in Athens from Aug. 1 to 10.

    [16] New airport opens in Crete

    Athens, 17/07/1997 (ANA)

    Transport and Communications Minister Haris Kastanidis yesterday inaugurated the new installations of the "Nikos Kazantzakis" airport at Heraklion, Crete.

    The inauguration is within the framework of an ongoing program to modernize and develop all the airports of the country at a total cost of 30 billion drachmas.

    The works under the program include the landscaping of surrounding areas, the extension of runways and the construction of new parking areas. Speaking at the inauguration ceremony, Mr. Kastanidis reaffirmed the government's commitment regarding the construction of a further runway at Heraklion airport, the study for which has been delayed due to a fault which appeared in the subsoil.

    He said the final study would be given to him a month from yesterday, containing solutions to the problem which arose.

    Following the recent improvements, the airport area reserved for passenger use now covers 23,000 square meters.

    Some 3.5 million passengers use Heraklion airport annually.

    [17] Kaklamanis receives young French philhellenes

    Athens, 17/07/1997 (ANA)

    Forty-five high school students from France who excelled in ancient Greek studies were received by Parliament President Apostolos Kaklamanis yesterday.

    The students are the winners of a competition organized by the French cultural organization Athena and the French ministry of education.

    Mr. Kaklamanis briefed them on the workings of the "Youth Parliament", an institution by which Greek high school students have a chance to hold their own session in Parliament.

    The group was given a tour of the building.

    They will remain in Greece for two weeks and visit several archaeological sites, including the islands of Patmos and Samos.

    [18] Greece prepares tight fiscal policy for 1998

    Athens, 17/07/1997 (ANA)

    The government will implement an austere fiscal policy in 1998 in order to prepare the country for participation in Economic and Monetary Union, National Economy and Finance Minister Yiannos Papantoniou said yesterday.

    Speaking to reporters, Mr. Papantoniou said that 1998 will be a tough year for the Greek economy as participation in the single European currency would depend on achieving targets set in the government's program to converge with other EU countries.

    He said the government's efforts would aim at reducing inflation to below 3.0 percent from the current 5.5 percent and adjusting fiscal policy to strict provisions contained in the convergence program.

    "1998's budget will be crucial," Mr. Papantoniou said.

    He predicted that the budget deficit would shrink to 4.2 percent of GDP this year and that economic growth would accelerate to 3.5 percent.

    Inflation would be contained within official targets by the end of the year, he added.

    Mr. Papantoniou stressed that final decisions on drafting 1998's budget would be agreed after the prime minister's traditional speech on the economy held in September each year at the Thessaloniki International Fair.

    [19] Greek Gov't urges price restraint

    Athens, 17/07/1997 (ANA)

    Greek National Economy and Finance Minister Yiannos Papantoniou yesterday warned that he would call in a government watchdog on free competition following disputes between food industries and supermarkets over prices.

    Speaking to reporters, Mr. Papantoniou called on supermarkets to contribute to price declines, indicating he believed major supermarket chains were profiteering at the expense of consumers.

    "It is neither possible nor reasonable for profits to exist beyond the economy's level of profitability," he said.

    The Federation of Greek Foodstuffs Industries on Tuesday claimed that supermarkets were exploiting their role in the market and distorting competition at the expense of small -and medium-sized enterprises.

    [20] Ionian delegation returns from FYROM visit

    Skopje, 17/07/1997 (ANA - M. Vihou)

    Ionian Bank President Haris Stamatopoulos concluded a two-day visit here on Tuesday, which was aimed at gauging future investment potential in the neighboring country. He was accompanied by several bank cadres, the foreign ministry's bilateral economic co-operation director and other foreign ministry officials. The visit focused on possibilities and prospects of expanding Ionian's activities in the Former Yugoslav Republic of Macedonia (FYROM).

    The Greek delegation held talks with several FYROM government, bank and local administration officials.

    In an announcement, FYROM parliament president T. Petkovski said he believes that investment of Ionian capital in FYROM "will contribute towards the modernization of the banking system and the country's more effective accession to European processes", adding his prediction that Greece will become FYROM's third or fourth trading partner by the end of 1997.

    On the occasion of the delegation's visit, the head of the Greek liaison office in Skopje, Alexandros Mallias, hosted an official dinner attended by almost half of the government's ministers, the president's diplomatic adviser, all bank governors, businessmen and directors of state enterprises, and others.

    [21] Tourism associations call for more direct involvement by premier

    Athens, 17/07/1997 (ANA)

    Representatives of tourism organizations yesterday requested more direct involvement of Prime Minister Costas Simitis in efforts to resolve problems affecting the tourism sector, during a meeting also attended by Development Minister Vasso Papandreou.

    Also participating in the meeting were Greek National Tourist Organization (GNTO) Secretary General Nikos Skoulas and the presidents of the country's leading tourism-related associations - representing hoteliers, SMEs and passenger ferry owners.

    Speaking to reporters afterwards, Ms Papandreou said Greek tourism had seen a recovery this year. "But this recovery must take on permanent characteristics," Ms Papandreou said, urging improved quality of services and a greater "tourism awareness" among Greeks and in particular the sector's professionals.

    "We have begun a program and believe that the result will become more clear during the next few years. This will come about through a combination of government activity and private initiative," she said.

    The president of the Hotels' Chamber of Greece, Aristotle Divanis, agreed that "there has been a recovery this year, which we want to maintain next year also."

    [22] Greek stocks sink on selling pressure

    Athens, 17/07/1997 (ANA)

    Greek equities came under pressure yesterday to end substantially lower on the Athens Stock Exchange, reflecting losses in the construction and industrial sectors.

    The general index closed 1.10 percent down at 1,572.87 points. Trading was active and turnover rose to 17.7 billion drachmas.

    All sector indices lost ground. Banks fell 0.24 percent, Leasing was 1.01 percent off, Insurance dropped 1.05 percent, Investment eased 1.13 percent, Industrials fell 2.0 percent, Construction ended 2.03 percent lower, Holding eased 1.80 percent and Miscellaneous dropped 0.40 percent. The small cap index ended 1.06 percent lower. Shares of Hellenic Telecommunications Organization (OTE) lost substantial ground to end at 6,250, down 110 drachmas.

    Broadly, decliners led advancers by 151 to 62 with another 31 issues unchanged. Ergodata, Allatini and Minerva scored the biggest percentage gains, while Macedonian Mills,

    Thessaliki and Mouzakis suffered the heaviest losses of the day. National Bank of Greece ended at 36,900 drachmas, Ergobank at 17,140, Alpha Credit Bank at 19,700, Titan Cement at 14,665, and Intracom at 12,710.

    [23] Foreign currency inflows hit drachma

    Athens, 17/07/1997 (ANA)

    The Greek drachma came under pressure yesterday in the domestic foreign exchange market prompting an intervention by the Bank of Greece.

    The central bank sold 680 ECU and 70 million US dollars in an effort to defend the national currency, which according to banking sources came under pressure from London banks.

    The ECU parity was fixed at 309.92 drachmas, up 0.12 percent from the previous day, while the dollar was slightly higher at 281.50 drachmas. The currency turmoil led to higher interest rates in the Greek interbank market and also had a negative impact on the stock market. Interbank rates were around 12.9 percent. Bank of Greece sources said investors were dumping drachmas in a rush to buy the US currency and sterling, which pushed up the two currencies on the domestic market.

    The dollar and sterling hit fresh seven year highs in international markets due to demand.

    The sources also said that the current situation was of no great concern because the scramble was focused on the two foreign currencies, and not the drachma.

    [24] EU approves state aid for Greek shipyards

    Brussels, 17/07/1997 (ANA-G.Daratos/Reuter)

    The European Union's executive Commission approved a debt write-off of 54.525 billion drachmas for Hellenic Shipyards at Skaramanga.

    The decision followed clearance given by the EU's Council of Ministers on 2 June 1997 when it approved legislation allowing aid to certain shipyards undergoing restructuring in Spain, Germany and Greece.

    The aid corresponds to debts related to civil work carried out by the yard on 31 December 1991 and debts accrued from interest due and penalties until 31 January 1996, the date the yard was partially privatized. The Commission also approved investment aid of 7.8 billion drachmas for the Skaramanga yard. On September 18, 1995 49% of shares were sold to the yard's workers.

    [25] Earthquake in Aegean

    Athens, 17/07/1997 (ANA)

    A strong earthquake measuring 5 on the Richter scale was recorded shortly after 13:00 local time yesterday, its epicenter being 180 kilometers northeast of Athens in the sea between the islands of Skyros and Lesbos.

    So far, there have been no reports of damage or injuries.

    [26] Price ceiling for soft drinks, water to combat profiteering

    Athens, 17/07/1997 (ANA)

    The government has decided to implement a price ceiling for soft drinks and bottled water sold in resort areas, airports, train stations and passenger vessels, in an effort to combat profiteering, Development Under-secretary Mihalis Chrysochoidis stated yesterday.

    Violators will be heavily fined, he said.

    [27] Greece offers assistance in Turkish plane crash

    Athens, 17/07/1997 (ANA)

    The government said yesterday that it had informed Turkish authorities of Greece's willingness to provide assistance following the crash of a Turkish military training plane east of Samos.

    The aircraft crashed into a forest on the Kamila Hill site yesterday morning, across from Samos.

    Two Turkish military officers were slightly injured in the crash.

    End of English language section.


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