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Athens News Agency: Daily News Bulletin in English, 97-07-19

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 1241), July 19, 1997

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


CONTENTS

  • [01] Simitis: Turkey must show consistency after Madrid communiqui
  • [02] Other issues
  • [03] ND on Simitis speech
  • [04] More discussion on communiqui necessary, 23 cadres say
  • [05] "Stoyanov thanks Greek leadership for support
  • [06] Greece, Georgia sign military co-operation protocol
  • [07] US Senate maintains 7:10 ratio of foreign aid to Greece, Turkey
  • [08] Kohl says he'll work to overcome Greek veto of EU support to Turkey
  • [09] Kranidiotis arrives in Lebanon for talks
  • [10] G. Papandreou hails EU decision on Cyprus' prospects for accession
  • [11] Transfer of EIYAPOE to Komotini
  • [12] Political leadership issues messages on anniversary of 'Attila'
  • [13] Czech Republic's Klaus continues unofficial visit
  • [14] Politicians' property statements released
  • [15] Seventh int'l Pan-Macedonian conference in Thessaloniki
  • [16] Greece will honor sports agreement, Gov't stresses
  • [17] IAAF to hold congress before championships begin
  • [18] Avramopoulos won't participate in championship's organizing committee
  • [19] New legislation on used car tax in September
  • [20] OTE issue raises 12.2 of 14. 38 billion drachmas targeted
  • [21] Lavipharm shares purchase
  • [22] Greek cabinet meeting on information society
  • [23] Greece to promote business in Balkans
  • [24] Greek equities end week sharply lower
  • [25] Gnomon contractors in successful share capital increase
  • [26] ATE, Chinese agree to co-operation
  • [27] More Olympic flights to islands

  • [01] Simitis: Turkey must show consistency after Madrid communiqui

    Athens, 19/07/1997 (ANA)

    Prime Minister and ruling PASOK President Costas Simitis yesterday said that a joint Greek-Turkish communiqui did not mean that problems with Turkey had disappeared, but, if the neighboring country showed consistency in respecting international law and treaties it would find Greek support in its effort to approach Europe. He was addressing a two-day PASOK central committee session in Nafplion, where he also termed the Greek-Turkish communiqui of Madrid a "success for government policy."

    Mr. Simitis and Turkish President Suleyman Demirel signed a joint communiqui last week in Madrid on the sidelines of a NATO summit.

    The communiqui contains the principles that should govern relations between the two neighbors.

    Mr. Simitis said the government's positions are known and ratified by the Cabinet and PASOK's collective organs, while he proposed that "these positions must be examined again when the time comes at another central committee session."

    He said the country's positions constitute the starting point for every initiative, with strategic and tactical moves being part of this framework. He further reminded that he had stressed at a Parliamentary group meeting on May 7 that Greece will not put forth its sovereign rights for dialogue, while it does not accept any process placing the status quo in the Aegean in question.

    Mr. Simitis reminded that during the same meeting he had pointed out that if Turkey proved in practice that it respected international law and withdrew its expansionist designs then the climate could change in relations between the two countries. He said this was achieved in Madrid since the framework of relations defined in the joint communiqui consolidates our positions and allows for a "step-by-step" rapprochement.

    Mr. Simitis underlined, however, that problems have not been resolved, stressing that if Turkey shows consistency in respecting international law and treaties it will find Greece in support of its European course. Until then, he added, Hellenism must be united with a strong deterrent force.

    He termed the "experts committee" as the next step, one which could lead to the International Court of Justice at The Hague. If, he added, Turkey defaults it will bear all the responsibility before the international public opinion and Ankara will be left exposed, while Greece will emerge as a stable pole of peace and co-operation in the Balkans and eastern Mediterranean.

    In this framework, Mr. Simitis called for an end "to the period of labeling because in the party of the most profound democratic traditions, divisions into nationalists and non-nationalists cannot reappear because such a thing lies beneath the history of PASOK".

    Mr. Simitis said that in this way PASOK, "united and indivisible is the party which safeguards national just causes because national policy means Greece becoming strong, proud and respected and slogans and banners for reasons of national consumption are not national policy and (in parallel) failing in your targets."

    Mr. Simitis said the government will promote this "unwavering policy because it has the approval and agreement of all the Greek people."

    [02] Other issues

    Athens, 19/07/1997 (ANA)

    Turning to other issues, Mr. Simitis also stressed the need for administrative reform, saying that the government was determined to clash with organized interests, large and small, towards achieving that end.

    Setting out the "Ioannis Kapodistrias" plan for devolution, he said it was based on the principles of decentralized administration, transfer of responsibilities on the basis of the principle of efficiency, human sensitivity and transparency.

    PASOK Secretary Costas Skandalidis described administrative reform as an urgent political priority. "It provides the answer to the requirements of modern democracy, the development of modern Greece. PASOK is determined, in its current four-year term, t o complete the plan for the creation of strong municipalities, which will change the map of local development of the country, setting aside political cost and unbridled parochialism," he said.

    Mr. Skandalidis issued an invitation to all the parties of the Center and Left without exemptions for the formation of a joint front in view of municipal elections in the autumn, emphasizing that in elections there was a dividing line between the forces of progress and conservatism.

    [03] ND on Simitis speech

    Athens, 19/07/1997 (ANA)

    In reaction to Mr. Simitis' speech, main opposition New Democracy spokesman Aris Spiliotopoulos accused the premier of "turning developments in Greek-Turkish relations into an internal PASOK issue, avoiding briefing, as he should, the Greek people on the reasonable questions, concerns and reservations created by the agreement.

    [04] More discussion on communiqui necessary, 23 cadres say

    Athens, 19/07/1997 (ANA)

    Twenty-three members of ruling PASOK's central committee called for a special meeting of the body to discuss the joint communiqui.

    In a letter to Mr. Simitis, the 23 said the issue is too important to be discussed briefly and discussion of the government's position should take place also within party agencies.

    The signatories include former ministers Yiannis Kapsis, George Katsifaras, Antonis Livanis, Kimon Koulouris, Anastasios Peponis and Yiannis Haralambopoulos.

    [05] "Stoyanov thanks Greek leadership for support

    Sofia, 19/07/1997 (ANA - N. Hios)

    Bulgarian President Petar Stoyanov has sent letters expressing gratitude towards Athens for its support in Bulgaria's bid for NATO membership, the BTA news agency reported yesterday.

    BTA said letters had been sent to President Kostis Stephanopoulos and Prime Minister Costas Simitis.

    According to the agency, Mr. Stoyanov also thanked the two officials for the "interesting and comprehensive talks" held during a recent official visit to Greece.

    "The Bulgarian people will never forget this outstanding act of solidarity by Greece," the letter to Mr. Simitis is quoted as saying, terming the support "clear and definitive".

    [06] Greece, Georgia sign military co-operation protocol

    Baku, 19/07/1997 (ANA - D. Konstantakopoulos)

    National Defense Minister Akis Tsohatzopoulos wrapped up a four-day tour of the Caucasus with a visit to Azerbaijan yesterday.

    He arrived in Baku from Tbilisi, where he signed a defense co-operation protocol between Greece and Georgia.

    The Greek military is now called upon to play an important role in the structuring of the Georgian army and particularly the Georgian navy. Tbilisi is interested in upgrading its almost non-existent military role in the Black Sea at present and undertaking the guarding of its coast more actively, a mission which is currently the responsibility by the Russian navy in essence.

    Speaking to reporters, Georgian Defense Minister Gen. Nadibaidze stressed the "complete and mutual understanding" reached in talks with his Greek counterpart and did not conceal the big expectations of the Georgian military in Greece's contribution towards its organization.

    On his part, Mr. Tsohatzopoulos underlined Georgia's crucial role in the security and stability of the entire Caucasus and expressed support for the unity and indivisibility of the republic, which is faced with the "de facto" secession of Abhazia and southern Ossetia.

    Replying to a question on possible Greek participation in a peacekeeping force, Mr. Tsohatzopoulos said Greece is prepared to help in organizing joint exercises and other measures.

    The two ministers appeared determined to implement the protocol with speedy rates and which anticipates, among others, their co-operation in the sectors of restructuring Georgia's army on land, logistics and the infrastructure facilitating the armed forces' readiness.

    The agreement anticipates the training of Georgian officers in Greece etc., while a Greek warship will visit Poti in the near future.

    [07] US Senate maintains 7:10 ratio of foreign aid to Greece, Turkey

    Washington, 19/97/1997 (ANA - T. Ellis)

    The US Senate yesterday approved the 1998 draft bill for foreign aid, without significant changes while retaining the 7 to 10 ratio of assistance to Greece and Turkey.

    The Senate approved the proposals of its appropriations committee, for aid of US$ 122.5 million to Greece and $150 million to Turkey.

    The Senate also retained $15 million in aid for Cyprus, granted for projects that will improve quality of life for both Greek Cypriot and Turkish Cypriot communities as well as their rapprochement.

    The draft bill will become law only when a similar draft is approved by the US House of Representatives and both combined under one law.

    The House draft bill calls for military loans of $105 million for Greece and $150 million for Turkey.

    There is also a proposal of granting a $40-million-grant to Turkey, of which amount half will be allocated to non-governmental organizations that promote human rights and a political solution to the Kurdish issue.

    [08] Kohl says he'll work to overcome Greek veto of EU support to Turkey

    Bonn, 19/07/1997 (ANA - P. Stangos)

    German Chancellor Helmut Kohl said he will do everything in his power to end a Greek veto on European Union financing toward Turkey.

    "This blocking is not proper, it is not justified. I have always held this view. I retain a very friendly relationship with the Greek prime minister, something I could not maintain for his predecessor, with whom we clashed regularly precisely on these issues. I am categorically in favor of ending, at long last, this blocking. And this will constitute the subject of talks with Turkish Premier Mesut Yilmaz, whom I will receive with great pleasure," he said at a press conference to German and foreign correspondents.

    It may be noted that in reference to EU enlargement, the German chancellor omitted mentioning Cyprus together with the first batch of eastern European countries that are candidates for membership.

    German Foreign Minister Klaus Kinkel has recently ruled out Cypriot membership in the EU without a prior solution to the Cyprus problem.

    [09] Kranidiotis arrives in Lebanon for talks

    Beirut, 19/07/1997 (ANA - V. Mourtis)

    Foreign Under-secretary Yiannos Kranidiotis has elicited Egyptian and Lebanese support for Greece's candidacy as a temporary member on the five permanent-member UN Security Council.

    Mr. Kranidiotis, who is on a Middle East tour, arrived here Thursday night, and held meetings with President Elias Hrawi, Prime Minister Rafik Hariri and Foreign Minister Farez Buiz.

    Sources said that Mr. Hrawi appeared satisfied with Mr. Kranidiotis' explanations regarding Greece's defense agreement with Israel (which is in abeyance), while expressing concern over Israel's similar agreement with Turkey.

    The Greek under-secretary discussed bilateral issues with Mr. Hariri, who is expected in Athens on an official visit on July 24 and 25.

    Discussion with Mr. Buiz centered on the Middle East peace process.

    The Lebanese foreign minister stressed that since it appeared that hopes for the effective activation of the United States in the process appeared to be diminishing, it was necessary for the European Union to become involved.

    The two men discussed the issues of Greece's candidacy for UN Security Council membership and the Cyprus issue, for which Greece was re-assured of Lebanon's support.

    Mr. Kranidiotis also met with Patriarch of Antioch Ignatios and Archbishop of Beirut Elias Ontech. An estimated one million and 500,000 Greek Orthodox faithful live in Syria and Lebanon, respectively.

    [10] G. Papandreou hails EU decision on Cyprus' prospects for accession

    Athens, 19/07/1997 (ANA)

    Athens is satisfied with the European Commission report "Agenda 2000", which proposes that Cyprus be included in the first round of accession talks set to begin early next year, Alternate Foreign Minister George Papandreou said yesterday.

    Mr. Papandreou told the Athens News Agency that the proposal, which was released recently, is the "realization of a decision that fundamentally assists the further promotion of a solution to the Cyprus issue".

    Referring to statements by top European Union officials that Cyprus cannot be prevented from EU accession, Mr. Papandreou said "we hope this position will be adopted by all EU member-states".

    [11] Transfer of EIYAPOE to Komotini

    Athens, 19/07/1997 (ANA)

    The Athens-based National Institute for the Reception and Settlement of Repatriating Greeks (EIYAPOE) is to be moved to Komotini.

    The institute's president and Ioannina University dean, Dimitris Glaros, said yesterday that a committee had already been set up to look into the process to transfer EIYAPOE services and staff to Komotini. A report by the committee is expected within the next three months.

    According to Prof. Glaros, the move shows the determination both by the institute's board and the state, to operate decision making centers for repatriating Greeks in the region of Thrace, where settlement problems for repatriating Black Sea Greeks (Pontians) are more acute.

    Also, the board is looking into ways for additional funding, mainly from the EU and international bodies.

    [12] Political leadership issues messages on anniversary of 'Attila'

    Athens, 19/07/1997 (ANA)

    The July 20, 1974 invasion of Cyprus by Turkish troops and occupation of the northern part of the island created tragic conditions for the Cypriot people and comprised a violation of all principles of international law and a great historical injustice,

    President of the Republic Kostis Stephanopoulos said yesterday on the occasion of the 23rd anniversary of the Turkish invasion. "Twenty-three years later, this large section of Cyprus remains under Turkish military occupation with repercussions that deeply affect life on the island and limit the freedom of the entire Cypriot people," he said.

    He said that despite numerous UN resolutions and the various initiatives on the Cyprus issue undertaken at various times, a solution "has not been rendered possible due to Turkey's refusal to conform with the UN resolutions and the international community's inability to impose them".

    Mr. Stephanopoulos said a new mobility was developing with the initiative of the UN Secretary General and the assistance of the United States, while Cyprus' accession to the European Union was positively looked upon.

    On its part, the government reiterated its unwavering support for the people of Cyprus in seeking a just and viable solution to the Cyprus issue.

    In a statement by the press ministry yesterday, the government said the process of UN-led direct talks between Cyprus President Glafcos Clerides and Turkish Cypriot leader Rauf Denktash "has Greece's full support".

    "We hope that all sides, especially Turkey, will respect international law and contribute so that the people of Cyprus may live again under conditions of freedom, peace, democracy and social prosperity".

    Main opposition New Democracy (ND) party leader Costas Karamanlis expressed doubt whether Turkey could fulfill conditions to become a European Union member.

    He also reiterated that "Greeks everywhere are always supportive of the Cypriot people and make a stance against provocations by retaining an unbroken national front and arming it with a long-term unified defense and foreign policy".

    The Coalition of the Left and Progress (Synaspismos) called for a "unified national strategy that will take advantage of international activity and deflect Turkish intransigence" and lead to a just and viable solution based on UN resolutions and top-level decisions.

    The Democratic Social Movement (DHKKI) party leader Dimitris Tsovolas accused the UN of "ineffectiveness and lack of will for a just solution to the problem and the restoration of legality", and criticized the plans for a confederation, saying the problem should be seen as one of invasion and occupation of an independent and sovereign state.

    A similar message was sent by Political Spring leader Antonis Samaras, who said that "Cyprus is one and indivisible. It cannot be cut up in sections, it cannot be sold off, and it cannot be given away".

    A statement on the anniversary was also issued by Cyprus' ambassador to Greece, who said that "if the Turkish side shows the same goodwill as the Greek Cypriot side, and the same positive and constructive spirit in which our side faces issues, then perhaps there might be a result".

    [13] Czech Republic's Klaus continues unofficial visit

    Athens, 19/07/1997 (ANA)

    Czech Premier Vaclav Klaus continued his unofficial visit to Greece yesterday, participating in an international political and economic seminar on Crete.

    The seminar, organized by the Group for International Study and Evaluation A.G. (GISE) and Alpha Credit Bank, will focus on issues pertaining to foreign policy, security and international economic relations.

    On the first day of his visit Thursday, Mr. Klaus had talks with Prime Minister Costas Simitis and Foreign Minister Theodoros Pangalos.

    During the talks, both sides underlined the lack of any serious problems in bilateral relations and the good prospects for their further development.

    The two sides also agreed on an exchange of official delegations led by the premiers of the two countries by the end of the year or early 1998. Particular attention was given to economic and trade co-operation, where there are excellent prospects for development.

    Reiterating Greece's support for the Czech Republic's bid to join the European Union and NATO, Mr. Simitis underlined the importance which Athens attaches to Balkan states becoming members of these organizations for peace and stability in the Balkans.

    Mr. Simitis also briefed his Czech counterpart on Greece's foreign policy priorities in the Balkans and the need for a just and lasting settlement of the Cyprus problem.

    Mr. Klaus briefed Mr. Simitis on the latest developments in his country, including the catastrophic flooding which has devastated one third of the Czech Republic, resulting in dozens of deaths and enormous material damage.

    [14] Politicians' property statements released

    Athens, 19/07/1997 (ANA)

    This year's property statements of political leaders, ministers and deputies were released yesterday.

    The statements do not show any marked changes from last year's.

    Statements were not submitted by ND deputy V. Vyzas, PASOK Eurodeputy K. Klironomos, and former PASOK deputy L. Konstantinidis.

    Several deputies appear to be only in possession of a private car.

    [15] Seventh int'l Pan-Macedonian conference in Thessaloniki

    Athens, 19/07/1997 (ANA)

    Pan-Macedonian associations from around the world are preparing for the Seventh International Conference of Panmacedonian Associations, starting this Sunday in Thessaloniki.

    Board members of Pan-Macedonian associations arrived in Thessaloniki yesterday at noon.

    They later gave a press conference during which they officially announced the holding of the conference, stressing their attendance was aimed at "giving a message of unity and co-operation of all Pan-Macedonian associations, as well as stating their adamant determination to keep up the struggle."

    Issues to be examined during the conference, which will last until July 26, include foreign policy issues of national importance to Greece, problems facing Greeks living abroad and the coordination of Macedonian Greeks' activities around the world.

    During yesterday's press conference, it was stressed that Pan-Macedonian associations had certain disagreements over the Greek government's handling of the controversial issue the final official name to be given to the Former Yugoslav Republic of Macedonia.

    They charged that in spite of the 'interim accord' between Athens and Skopje, which had been observed by Greece, the Skopjans had launched an extensive propaganda, trying to influence the international public opinion towards their own positions on the issue of the name.

    The conference is held every four years and this year coincides with the 50th anniversary of the oldest Pan-Macedonian association of North American.

    [16] Greece will honor sports agreement, Gov't stresses

    Athens, 19/07/1997 (ANA)

    Greece will honor the agreements it has signed with international sports organizations, government spokesman Dimitris Reppas said yesterday, responding to press reports claiming an eight-billion-drachma shortfall in the budget for the World Athletics Championships in Athens.

    At the present time, Mr. Reppas said, just days before the staging of the championships, "we must all help to ensure the best possible promotion of Greece."

    "We shall deal with any problems which may exist afterwards," he added, noting that all the political parties were participating in the Athens '97 organizing committee.

    [17] IAAF to hold congress before championships begin

    Athens, 19/07/1997 (ANA)

    The International Amateur Athletic Federation (IAAF) will celebrate the 85th anniversary of its founding on July 29 at the ancient Herod Atticus theater, shortly before the opening of the 6th World Athletics Championships in Athens.

    Prime Minister Costas Simitis will open IAAF's 41st congress at the theater, which will end on July 31. The championships will be held from Aug. 1 to 10.

    IAAF was founded in 1912 in Stockholm with 17 members, including Greece.

    For its opening celebration, the IAAF has invited some of the best-known past and present athletes to attend, some of which won medals in past Olympics.

    These include the following athletes:

    -- Emil Zatopek (Czech Republic), winner of three gold medals in the 1952 Olympic Games and world record holder at 5000m and 10,000m race; -- Sydney Wooderson (Britain), world record holder in 800m and mile in the 1930s; -- Marita Koch (Germany), winner of four gold medals in the 1983 World Championships; -- Fanny Blankers-Koen (the Netherlands), winner of four gold medals in the 1948 Olympic Games; -- Maurizio Damilano (Italy), Olympic and world champion in the 20km walk; -- Kip Keino (Kenya), Olympic gold medallist in the 1500m and 3000m steeplechase; -- Sohn Kee-Chung (Korea), Olympic champion in the marathon of 1936 (representing Japan); -- Ernesto Canto (Mexico), the first male gold medallist in the first World Championships in 1983, in the 20km walk; -- Grete Waitz (Norway), the greatest woman distance runner of all time; -- Valeriy Brumel (Russia), Olympic champion and world record holder in the high jump; -- Viktor Sanyeyev (Russia), holder of two Olympic titles in the triple jump; -- Yuriy Sedykh (Russia), holder of the world title in the hammer throw at the age of 36 years and 75 days; -- Bob Matthias (USA), Olympic champion in the 1948 decathlon; -- Bobby Morrow (USA), winner of three gold medals in the sprints at the 1958 Olympic Games; -- Dick Fosbury (USA), inventor of the high jump style which bears his name, and Olympic champion; and -- Carl Lewis (USA), winner of nine Olympic gold medals and eight gold in the World Championships between 1983 and 1991.

    [18] Avramopoulos won't participate in championship's organizing committee

    Athens, 19/07/1997 (ANA)

    Athens Mayor Dimitris Avramopoulos addressed a letter to Sports Under-secretary Andreas Fouras yesterday, informing him that he will not participate in the Organizing Committee for the Athens '97 World Athletics Championships.

    "Being unable to participate substantively in the works of the Organizing Committee of the World Athletics Championships Athens '97, in which I had been included, I inform you that I will not participate formally. The Athens municipality will be represented by deputy mayor Angelos Moschonas," Mr. Avramopoulos said.

    "Being the mayor of the city which will host the championships, I will contribute to the part of the program which is anticipated by the World Athletics Championships manual. Best wishes for the success of this great tournament," he added.

    [19] New legislation on used car tax in September

    Athens, 19/07/1997 (ANA)

    The government intends to table legislation in mid-September regulating taxation on the import of used catalytic converter cars, controlled renewal of the fleet of older cars in Greece as well as other issues concerning the "objective" tax value of vehicles.

    Environment, Town Planning and Public Works Minister Costas Laliotis said after a meeting with Finance Undersecretary George Drys and car dealers or importers that the controlled withdrawal of older cars would be over a period of six years, from 1998 to 2004.

    He said the number of old-technology cars to be taken out of circulation each year would depend on the funding earmarked in the annual budgets for that purpose.

    Incentives for withdrawal, he continued, would depend on the engine and age of the vehicle being taken out of circulation and would not be linked with the purchase of a new vehicle.

    Informed sources said the target for 1998 was the withdrawal of about 160,000 conventional technology cars of up to 22 years of age.

    [20] OTE issue raises 12.2 of 14. 38 billion drachmas targeted

    Athens, 19/07/1997 (ANA)

    The latest issue of Hellenic Telecommunications Organization (OTE) stock brought in 12.2 of the 14.38 billion drachmas designated for private individuals and institutional investors, as 360,000 shares were not subscribed for.

    The unsubscribed amount will be covered by the three main lead managers of the issue, Salomon Brothers, HSBC Investment and the National Bank of Greece. The total amount of the share capital increase was 189.89 billion, of which 175.51 was paid up by the state.

    [21] Lavipharm shares purchase

    Athens, 19/07/1997 (ANA)

    The Lavipharm company announced yesterday that the brokerage firm SBC WARBURG and Sigma provided foreign institutional investors with 1,330,963 of the company's shares at 2,500 drachmas per share.

    These shares were under the ownership of the company's old shareholders who will use the product of the sale to exercise their rights fully in the framework of the increase underway in Lavipharm's share capital which started on July 16 and will end on Aug. 22.

    Sigma is the issuing advisor for the increase in share capital.

    [22] Greek cabinet meeting on information society

    Athens, 19/07/1997 (ANA)

    Prime Minister Costas Simitis yesterday chaired a Cabinet meeting which focused on formulating policy for guiding Greece into the "information society."

    Government spokesman Dimitris Reppas said the premier had submitted a four-point political framework for making full use of informatics and resolving any problems which might arise.

    The framework provides for the creation of a suitable material and technical infrastructure to facilitate access by as many Greeks as possible to the Internet information superhighway, a role to be largely undertaken by the Hellenic Telecommunications Organization (OTE).

    At the same time, the framework envisages the modernizing of public administration with the aid of new technology, particularly through the implementation of the "Cleisthenes" program for the computerization of ministries.

    The third aspect concerns the completion and speeding up of the implementation of the statutory framework for protecting citizens' rights. According to Mr. Reppas, this has already begun following the recent passing of the bill on securing the confidentiality of information of a personal nature.

    Lastly, the framework submitted by Mr. Simitis foresees the creation of a "critical mass" of users of the new technology, to be achieved through educational, initial and ongoing training programs.

    The purpose of this, Mr. Simitis told the Cabinet, is "to avoid the creation of new forms of discrimination and social inequality with respect to those familiar with the new technology and the unqualified."

    Within the same framework, the Cabinet unanimously decided to speed up the modernization of OTE and make it compulsory for each ministry to submit an action plan by September 10 concerning the modernization of their services.

    The plans submitted will have to be implemented by November at the latest, Mr. Reppas said.

    [23] Greece to promote business in Balkans

    Athens, 19/07/1997 (ANA)

    Development Minister Vasso Papandreou will hold a meeting in September with businessmen from northern Greece to discuss ways of promoting Greek business in the Balkans.

    The meeting to be held in Thessaloniki will be attended by 43 businesses. According to sources, the leadership of the foreign ministry and representatives of the national economy ministry will also take part. The president of the Northern Greek Industry Association, Vassilis Takas, urged the government to support the work of the Inter-Balkan and Black Sea Business Center, created to facilitate Greek business activities in the Balkan and Black Sea regions.

    [24] Greek equities end week sharply lower

    Athens, 19/07/1997 (ANA)

    Greek stocks slumped for the fourth straight session, yesterday, finishing 1.24 percent down with turnover sharply higher at 22.1 billion drachmas due to block trades.

    The Athens general share index ended at 1,537.09 points, losing 3.42 percent for the week. The parallel market for smaller cap stocks performed better than the main market, closing 0.61 percent lower.

    The general index was 3.42 percent down on the week, reflecting investors' worries over developments in the domestic money market. Industrials and Construction suffered the heaviest losses of the week, down 5.56 and 5.16 percent respectively. Investment , however, managed to end 1.17 percent higher.

    Most sector indices were down with Banks shedding 0.88 percent, Leasing 2.25 percent, Insurance 0.09 percent, Investment 1.27 percent, Industrials 2.33 percent, Construction 1.12 percent and Miscellaneous 0.13 percent.

    Holding companies bucked the trend finishing 0.72 percent up.

    Hellenic Telecommunications Organization dropped 50 drachmas to close at 6,145 drachmas.

    Declines led advances at 144 to 55 with 29 stocks remaining unchanged out of 228 traded.

    Scoring the largest percentage gains were Keranis, Macedonian Plastics, Karelias and Pouliadis. The day's biggest losers were Athens Bank, Sato, Parnassos Enterprises and Paleo Phaliro Medical. ANA

    [25] Gnomon contractors in successful share capital increase

    Athens, 19/07/1997 (ANA)

    Greek engineering contractor Gnomon, which is listed on the main market of the Athens Stock Exchange, tapped the bourse for 1.44 billion drachmas through a successful share capital rise.

    The firm issued 1.8 million new common shares at 800 drachmas each, distributed as three new shares for 10 existing ones.

    The funds raised will be used to advance self-financed projects including a new marina, help finance a takeover of another engineering contractor, and buy new equipment.

    Omega Brokerage acted as consultant to the share issue.

    [26] ATE, Chinese agree to co-operation

    Athens, 19/07/1997 (ANA)

    The Agricultural Bank of Greece (ATE) will expand its co-operation with China's Agricultural Bank in the sectors of farmers credit, technical assistance and loans. ATE governor Christos Papathanasiou discussed the prospects of the two banks' co-operation with the Chinese bank's governor during a meeting in Athens on Thursday. The Chinese official is heading a delegation which yesterday visited Crete for contacts with local firms and cooperatives.

    [27] More Olympic flights to islands

    Athens, 19/07/1997 (ANA)

    Olympic Airways, Greece's national carrier, will schedule larger aircraft in flights to islands in order to attempt to handle increased demand for tickets.

    End of English language section.


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