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