Athens News Agency: Daily News Bulletin in English, 97-09-02
From: The Greek Press & Information Office, Ottawa Canada <grnewsca@sympatico.ca>
ATHENS NEWS AGENCY BULLETIN (No. 1278), September 2, 1997
Greek Press & Information Office
Ottawa, Canada
E-Mail Address: grnewsca@sympatico.ca
CONTENTS
[01] Poos: Better relations with Athens, support for Cyprus' EU bid,
keys for Turkey
[02] Yilmaz on EU agreement
[03] Mantelis takes transport portfolio after Kastanidis resigns
[04] Mantelis, Benos
[05] Opposition reaction
[06] Greece to support Bulgaria's European orientation, Greek MP says
[07] Peace events between Greek, Turkish towns
[08] Special church service by Patriarch attended by Spyridon
[09] Papandreou to visit Sarajevo today
[10] Greece, Lithuania discuss bilateral relations
[11] Decree to abolish Greek language provision for EU foreign
language teachers
[12] Foreign ministry info bulletin on Amsterdam Summit
[13] British embassy opens book of condolences for Diana
[14] Greek culture ministry events in Belgrade
[15] Cabinet debate on Balkan policy this week
[16] Ministers focus on '98 budget
[17] PASOK executive bureau on Wednesday
[18] Conditional Synaspismos support for education bill
[19] Karamanlis visits Thesprotia, Arta prefectures
[20] IOC official downplays minor attack in Athens
[21] Urban guerrillas claim bombing
[22] IOC VP confirms rule breaking in 2004 bid race
[23] Greek economy on track for EU convergence
[24] PM to make 1998 policy speech on Friday
[25] Wary Greek stocks edge up ahead of PM's 1998 policy speech
[26] Greek bourse takes wait-and-see attitude-analysts
[27] Xiosbank basic lending rate unchanged
[28] One-year T-bill issue today
[29] Stock re-purchases by two steel-makers
[30] Business meeting concludes on Lesvos
[01] Poos: Better relations with Athens, support for Cyprus' EU bid,
keys for Turkey
Istanbul, 02/09/1997 (ANA/A. Kourkoulas)
Improvement of relations with Greece and facilitation of
negotiations on Cyprus' accession to the European Union (EU) are
prerequisites for Turkey to improve its relations with the
Union, Luxembourg Foreign Minister Jacques Poos said yesterday.
Luxembourg currently holds the rotating presidency of the EU,
with Mr. Poos serving as the European Council president.
"The EU member-states believe that if Turkey truly wants full
membership in the EU, why shouldn't it encourage Cyprus'
negotiations, even before it becomes a member itself?", Mr. Poos
said, following his meeting with Turkish Foreign Minister Ismail
Cem in Ankara.
He added that "the Turks of Cyprus will not run into danger by
the (island's) accession to the EU. On the contrary, they will
benefit from it themselves".
Mr. Poos expressed the same view on Sunday, saying that "Turkey
should be the first country to request Cyprus' accession to the
Union. The Turkish Cypriots will definitely be included in the
agreement".
He also met earlier in Ankara with Turkish Prime Minister Mesut
Yilmaz.
At a press conference, Mr. Poos said that "the conflict in the
Aegean must be solved immediately in agreement with Greece".
No country may become a Union member, he explained, if it still
has territorial or maritime differences with a member-state, and
urged that the Madrid communique become reality.
Mr. Poos also said that the new government of Turkey intends to
support the "committees of wise men", set up by each side
following an EU initiative in efforts to solve Greek-Turkish
differences in the Aegean.
Turkey is part of the plans for the expansion of the EU, he
said, but will not participate in the first phases of expansion.
Selection for membership is based on economic and political
criteria, he noted, explaining that "Turkey does not present a
problem from an economic point, but from a political point of
view it is behind (other) applying countries".
In order for Turkey's EU full accession to begin, certain
conditions should be fulfilled, Mr. Poos said.
"If these conditions are fulfilled, then we can start
negotiations," he added.
In discussions held with the previous Turkish government the
Union had pointed to the Kurdish issue and called for a solution
to issues troubling southeastern Turkey, Mr. Poos said,
underlining the need for reforms concerning human rights to
continue.
[02] Yilmaz on EU agreement
Athens, 02/09/1997 (ANA)
In statements to the press before meeting with Mr. Poos, Mr.
Yilmaz said that a customs agreement with the EU faced
difficulties because of what he called the union's failure to
meet its obligations, a Reuter dispatch from Ankara reported.
"Because the union did not fulfill its own responsibilities, our
customs union agreement faces serious problems," Mr. Yilmaz said.
He did not elaborate on the problems affecting the 20-month-old
treaty.
[03] Mantelis takes transport portfolio after Kastanidis resigns
Athens, 02/09/1997 (ANA)
Tassos Mantelis, the under-secretary of interior, public
administration and decentralization, will take over the
transport and communications portfolio after Prime Minister
Costas Simitis yesterday accepted the resignation of Haris
Kastanidis.
Mr. Simitis met with Mr. Kastanidis yesterday morning for an
hour before he accepted the minister's resignation, submitted on
Saturday.
It is the first resignation of a senior government minister
since Mr. Simitis took over as prime minister in January 1996
from the late Andreas Papandreou.
Foreign Under-secretary Christos Rozakis resigned for health
reasons at the beginning of 1997.
Mr. Mantelis' position at the interior ministry will be assumed
by Messinia deputy Stavros Benos, a former culture minister,
government spokesman Dimitris Reppas said.
In his letter of resignation, Mr. Kastanidis referred to what he
called leaks to the media regarding criticism by Mr. Simitis of
delays by the transport ministry.
Mr. Kastanidis also mentioned certain "centres who were trying
to apportion blame for delays and obstacles to the government's
work".
There were also certain vested interests, he added, that were
undermining his work, viewing his presence at the transport
ministry as a hindrance to their own goals.
Mr. Simitis' reply indicated that he was unconvinced by Mr.
Kastanidis' arguments. The prime minister made reference to
transport problems, particularly in Athens, which he said the
government was obliged to solve. Raising these issues at last
week's Cabinet meeting, he said, should not be a problem for any
minister.
Indirectly saying Mr. Kastanidis had overreacted, Mr. Simitis
also said that during their meeting yesterday, Mr. Kastanidis
had not produced any evidence to indicate a leak of information.
Mr. Reppas observed that Mr. Simitis had not made specific
mention of any Cabinet member during its last session Friday,
but had made general reference to problems and priorities.
Meanwhile, Mr. Reppas indirectly agreed with Mr. Kastanidis'
views with regard to the existence of vested interests that were
trying to influence the government.
"However, it is the ministers' duty to intensify their efforts
to resolve problems," he said.
Mr. Kastanidis, he noted, had not asked for the prime minister's
support but had submitted his resignation. Mr. Reppas denied
that anyone in the government or among the prime minister's
associates were in any way connected with the press reports
referred to by Mr. Kastanidis.
In conclusion, the government spokesman said Mr. Kastanidis had
made a great contribution during his time at the transport and
communications ministry, particularly during the floatation of
the Hellenic Telecommunications Organization (OTE) and the
modernization of Olympic Airways.
[04] Mantelis, Benos
Athens, 02/09/1997 (ANA)
Tassos Mantelis, a state deputy, was born in 1945 and is a
graduate of the Athens Law School. He was first elected to
Parliament as deputy for Ionian island of Cephallonia in 1981.
Mr. Mantelis is a close associate of Mr. Simitis, having worked
with him at the industry ministry as secretary general. In
February 1996, he was appointed cabinet secretary under Mr.
Simitis' first government and following the September 1996
election was appointed under-secretary to the interior, public
administration and decentralization ministry.
Stavros Benos, who replaces Mr. Mantelis at the interior
ministry, is a deputy for Messinia prefecture and has previously
served as culture minister.
Mr. Mantelis will be sworn in as the new transport and
communications minister today, before President of the Republic
Kostis Stephanopoulos and in the presence of Mr. Simitis.
Also sworn in today will be Mr. Benos as under-secretary of
interior, public administration and decentralization.
[05] Opposition reaction
Athens, 02/09/1997 (ANA)
Opposition parties criticized the government over the
resignation of Mr. Kastanidis and called for clarifications on
the reasons he gave for his departure from the government.
"The government has started losing its members one by one,
following the public admission of its failure," main opposition
New Democracy (ND) party said yesterday.
ND called for clarifications on a phrase used by Mr. Kastanidis
in his resignation, to the effect that "certain people see my
presence in the ministry of transport and communications as an
obstacle in the free exercise of their games."
The Coalition of the Left and Progress (Synaspismos) said in a
statement that the resignation was a blow against the
government's prestige and cohesion and reaffirmed the party's
view on "the need for institutions of transparency".
Synaspismos also called on the former minister to clarify what
he meant and on the prime minister to explain why he was
avoiding, as it claimed, to investigate Mr. Kastanidis' charges.
The Democratic Social Movement (DHKKI) party said the contents
of Mr. Kastanidis' resignation letter created a huge political
and ethical issue for the prime minister and his government, and
said the involvement of large economic interests with the
government was creating mounting concern.
Political Spring called on the former minister to provide
specific information and names, if what he claimed was true.
[06] Greece to support Bulgaria's European orientation, Greek MP says
Sliven, Bulgaria, 02/09/1997 (BTA/ANA)
A blessing of the waters service was jointly held by the
Metropolitan of Sliven and an Alexandroupoli priest on Sunday at
the Karandila location, where the Bulgarian Sarakatsani
community is holding its 6th convention.
The service was part of events to further strengthen
Bulgarian-Greek friendship.
"I am a champion of the good relations between the two nations,"
Bulgarian Vice-President Todor Kavaldjiev told the Greek
state-run ET-3 television station.
He added that the opening of new border crossings along the
Bulgarian-Greek border will help promote bilateral economic
co-operation.
"Greece will always be on the side of Bulgaria on its way to
European integration," Greek Parliament Vice-President Nikos
Katsaros said.
As a representative of the Sarakatsani community, he called upon
the nomadic Sarakatsani people in Bulgaria to go together with
Bulgarians along a road "that will take us to the large family
of united Europe."
Restoring the rights of the Sarakatsani is part of the new
policy of the Euro-Left, political leader Alexander Tomov said
in an address to the convention. He described the confiscation
of Sarakatsani sheep herds by the former communist regimes as
one of the greatest crimes of the communist state in Bulgaria.
Agrarian MP Petko Iliev proposed that a Sarakatsani deputy sit
in the future parliament, in order to stand up for the rights of
this community. He said fair compensation for the
nationalization of the millions of Sarakatsani-owned sheep and
horses should be provided once Bulgaria achieves a
stabilization. In addition, an appeal for the unification of
Cyprus was read on behalf of the 4,000 participants at the
convention.
Participants stressed their opposition to the 23-year invasion
of Cyprus by the Turkish military and called on the
international community to work for the restoration of the
island republic's territorial integrity.
[07] Peace events between Greek, Turkish towns
Athens, 02/09/1997 (ANA)
Greek and Turkish artists, writers and culture representatives
met at Cesme, on the Turkish coast, for a festival on writing
and art yesterday.
Events included films on Greek-Turkish friendship, and works of
art that will go on permanent exhibition at the town's main
square.
A meeting promoting peace and friendship between mayors from
Turkish coastal towns and Greek islands of the Aegean were held
yesterday and will continue tomorrow at Didyma, near Aidin.
Representatives from local government, a peace committee and the
press from the island of Samos are also attending the meeting in
Didyma.
[08] Special church service by Patriarch attended by Spyridon
Istanbul, 02/09/1997 (ANA/A. Kourkoulas)
Ecumenical Patriarch Vartholomeos yesterday officiated at a
special service at Agios Georgios' Cathedral in the Phanar
district on the occasion of the start to the ecclesiastical
year. Among those present were Archbishop of America Spyridon
and several leaders of the Greek American community.
In a message for the day, the Patriarch underlined the
Patriarchate's initiative to declare September 1 as "Environment
Protection Day", and wished that other churches follow the same
example.
[09] Papandreou to visit Sarajevo today
Athens, 02/09/1997 (ANA)
Alternate Foreign Minister George Papandreou will visit Sarajevo
today to inaugurate two schools and a hospital, according to an
announcement. Papandreou will also meet with government
officials during his visit to the Bosnian capital. No further
details were available.
[10] Greece, Lithuania discuss bilateral relations
Athens, 02/09//1997 (ANA)
Foreign Under-secretary Yiannos Kranidiotis met yesterday with
Lithuania's Deputy Minister for European Affairs Birute
Abraitiene to discuss bilateral relations and European issues,
such as Lithuanian's hopes to accede to the European Union.
[11] Decree to abolish Greek language provision for EU foreign
language teachers
Athens, 02/09/1997 (ANA)
A relevant education ministry draft presidential decree is
expected to open the door to European Union citizens in order to
operate, direct or teach at private foreign language schools.
The draft presidential decree allows for simple knowledge and
ability to use the Greek language in order to be given
permission to work and open private foreign language schools in
the country. Private lessons are also covered.
Up to now, Greek law required full knowledge of the Greek
language for foreign language teachers to legally work in Greece.
[12] Foreign ministry info bulletin on Amsterdam Summit
Athens, 02/09/1997 (ANA)
The foreign ministry has issued an information bulletin on the
results of the EU Amsterdam summit, with a prologue by Alternate
Foreign Minister George Papandreou.
Summing up the assessment of aims and pursuits of the Greek
positions, Mr. Papandreou refers to "the promotion of our
positions for the Common External and Security Policy, including
a reference to the existence of external borders of the Union,
support to the islands, the promotion of new provisions for a
coordinated policy in the employment sector, the fight against
unemployment and social exclusion, the strengthening of
provisions regarding social rights, and strengthening the role
and the activities of the European Parliament."
Mr. Papandreou stresses that in the second half of 1997, Greece
must defend its positions in the forthcoming changes in the EU,
particularly on the issues concerning its participation in the
third phase of Economic and Monetary Union, its active
participation in the enlargement process, and monitoring and
intervening in the Common Agricultural Policy.
Information on EU issues may be obtained from the following
Internet sites:
Foreing Ministry, http://www.mfa.gr
General Secretariat for Greeks Abroad, http://www.mfa.gr/ggae
Alternate Foreign Minister, http://www.mfa.gr/gpap.
[13] British embassy opens book of condolences for Diana
Athens, 02/09/1997 (ANA)
The British embassy has opened a book of condolences at the
British ambassador's residence, 2, Loukianou St., from 11 a.m.
to 1 p.m. until tomorrow for people wishing to convey their
condolences for the death of Princess Diana British ambassador
Sir Michael Llewelyn Smith said the death of Diana was a "tragic
occurrence which has shocked and grieved the entire British
nation".
Diana was much loved in Greece, the ambassador said, thanking
those who had sent wreaths and messages, many of them from
children.
[14] Greek culture ministry events in Belgrade
Belgrade, 02/09/1997 (ANA/M. Mouratidis)
The "Orchestra of Greeks" held a concert with traditional
popular songs from Greece here yesterday as part of cultural
events sponsored by the culture ministry in the Balkans and
Black Sea region.
A dance company also performed at the event with traditional
Greek dances.
Events include a book and photograph fair, as well.
The Greek ambassador in Belgrade and the Serbian under-secretary
of culture attended the event.
[15] Cabinet debate on Balkan policy this week
Athens, 02/09/1997 (ANA)
Debate on the government's Balkan policy will conclude this
Friday during a Cabinet meeting, government spokesman Dimitris
Reppas announced yesterday.
At last Friday's Cabinet meeting, when debate on Balkan policy
began, Prime Minister Costas Simitis and Foreign Minister
Theodoros Pangalos outlined the basic aspects of the country's
foreign policy in the region.
After the end of Friday's session, the premier will leave for
Thessaloniki to address the Thessaloniki International Fair.
According to government sources, Mr. Simitis in his speech will
refer to the conditions required to transform Thessaloniki into
an economic centre of the Balkans. He will also place emphasis
on the completion of infrastructure projects in northern Greece.
In addition, the prime minister is expected to underline the
continuation of efforts for the country's participation in the
EU's Economic and Monetary Union.
A press conference will be given by at noon on Sunday.
[16] Ministers focus on '98 budget
Athens, 02/09/1997 (ANA)
Inter-ministry bargaining for the next budget's funds began
yesterday.
National Economy Minister Yiannos Papantoniou met with his
colleagues of Defense, Akis Tsohatzopoulos, and of Labour,
Miltiades Papaioannou.
There was an exchange of views on armaments and social welfare
programs, as well as on the possibilities for cut backs.
Mr. Papantoniou will continue his contacts with his colleagues
of Education, Agriculture and Health.
[17] PASOK executive bureau on Wednesday
Athens, 02/09/1997 (ANA)
The executive bureau of the ruling PASOK party is scheduled to
convene on Wednesday under the chairmanship of Prime Minister
Costas Simitis.
Government spokesman Dimitris Reppas said that the meeting will
be held in celebration of the 23rd anniversary of the foundation
of the party.
[18] Conditional Synaspismos support for education bill
Athens, 02/09/1997 (ANA)
The Coalition of the Left and Progress (Synaspismos) has decided
to vote in favour of the government's draft bill on education on
the condition that certain proposals it submits be approved by
the government.
At the meeting, the party's central committee also examined the
latest developments in the government in the light of
yesterday's resignation of transport minister Haris Kastanidis,
as well as the party's festival in late September.
Party leader Nikos Constantopoulos did not attend the meeting
due to minor health problems.
A meeting of the Synaspismos central committee was decided for
early October, to examine the government's performance and
design the party's opposition tactics.
[19] Karamanlis visits Thesprotia, Arta prefectures
Athens, 02/09/1997 (ANA)
Main opposition New Democracy leader Costas Karamanlis yesterday
continued his tour of northwestern Greece with visits to
Thesprotia and Arta prefectures.
During the tour, he referred to issues relating to local
government, agriculture and the promotion of regional
infrastructure projects.
He also stressed his strong interest in the work of local
government and promised his support "over and above political or
party labels".
"I have not come to make promises, because politicians with many
promises are a thing of the past ... We want people who make
deeds and say little," he said.
He also stressed the need for reducing agricultural production
costs to a minimum and blamed the government for what he called
the very slow pace of infrastructure projects.
[20] IOC official downplays minor attack in Athens
Athens, 02/09/1997 (ANA)
International Olympic Committee (IOC) Director General Francois
Carrare has described acts such as the minor bomb attack outside
the offices of the Greek Olympic Committee on Sunday night as
"coming from madmen".
"...All these attacks are made by mad people, who wish to pass
on mad messages and do not express the opposition," he said
during yesterday's IOC press briefing at the Chateau de Vidy in
Lausanne.
" I do not know what each IOC member will do and to what extent
it will be influenced by these terrorist acts. Some may be
influenced, some may choose to ignore the incident, some may
support the cities where these incidents occurred, wishing to
prove they are not influenced by such situations," he added.
The IOC members who will vote for the 2004 host city on Friday
have been reduced by two, bringing the total to 109 out of 111,
after an announcement that Princess Anne of England will not
attend due to mourning for the death of Princess Diana, and that
Saudi Arabian Prince Faisal Fahd Abdul Aziz will not attend,
citing political talks.
The 78-strong Athens delegation will be the smallest among the
five candidate-cities, and will include Sports Under-secretary
Andreas Fouras, Athens Mayor Dimitris Avramopoulos, Alternate
Foreign Minister George Papandreou, as well as political party
representatives.
[21] Urban guerrillas claim bombing
Athens, 02/09/1997 (ANA)
The shadowy urban terrorist group "Anti-Power Struggle" early
yesterday claimed responsibility for an explosion late on Sunday
night outside the headquarters of the Greek Olympic Committee in
the upscale central Athens district of Kolonaki.
The explosion caused a small fire which was quickly extinguished
by the fire brigade, while no injuries were reported, police
said.
An unidentified caller telephoned the Athens daily "Athinaiki"
and the private television station "SKAI" claiming the group had
set the explosive device, which was reportedly made from two gas
canisters.
Eyewitnesses said they saw two young men drive off from the
scene on a motorcycle.
Greece is one of the five finalist cities bidding to stage the
2004 Olympics. The International Olympic Committee is to vote on
Friday between Athens, Rome, Stockholm, Cape Town and Buenos
Aires.
[22] IOC VP confirms rule breaking in 2004 bid race
Lausanne, 02/09/1997 (DPA/ANA)
International Olympic Committee Vice-President Marc Hodler said
rules have been broken regarding the bid for the 2004 Games amid
reports one IOC member had tested the ground for the value of
his vote on Friday.
Mr. Hodler told the German Press Agency DPA there had been
incidents in the past three weeks which were "pretty rough."
However, the Swiss, who are responsible for the bidding rules in
the IOC, did not give details.
Sources said that one agency has offered votes from IOC members
and asked for a higher fee in case of success. The same sources
said at least one IOC member had been offered $20,000 by one
city.
Later in the evening, though, Mr. Hodler retracted his
statements, according to an ANA dispatch.
"I never made a statement claiming that I am aware of cases of
attempted bribery of IOC members' votes..." he said, refusing to
deny that he is not aware of such an agency.
The IOC over the weekend guaranteed the winner one billion US
dollars from marketing income.
[23] Greek economy on track for EU convergence
Athens, 02/09/1997 (ANA)
Greece, whose economic growth rate is higher than the European
Union average, is on track to align with other EU countries,
National Economy and Finance Minister Yiannos Papantoniou said
yesterday.
GDP growth in 1997 was forecast at 3.5 percent or slightly more
against two percent in the rest of the EU, said Mr. Papantoniou
in a message to mark the opening on September 5 of the annual
Thessaloniki Trade Fair.
"The Greek economic train is running faster than other European
economies. If we keep this advantage in growth rates, we can
reach Europe's level in a reasonable period of time," Mr.
Papantoniou said.
Inflation was currently around five percent against 12.3 percent
three and half years ago. The public sector deficit was forecast
at 4.2 of GDP in 1997, sharply down from 14.5 percent in 1993.
[24] PM to make 1998 policy speech on Friday
Athens, 02/09/1997 (ANA)
Prime Minister Costas Simitis will open the annual Thessaloniki
International Trade Fair on Friday with a speech outlining his
government's economic policy for 1998 on Saturday evening.
The trade fair, whose opening is the traditional venue each year
for governments to announce policy before drafting the state
budget, has attracted individual companies and trade delegations
from countries worldwide.
A strong showing is expected at this year's September 6-15 fair
by countries from central and eastern Europe and the Middle East.
According to the organizers, the largest delegations from the
region are expected from Israel, Lebanon, Bulgaria, Romania and
Federal Yugoslavia.
Greek engineering contractors, representing a rapidly expanding
sector of the economy, will for the first time take part as a
group.
[25] Wary Greek stocks edge up ahead of PM's 1998 policy speech
Athens, 02/09/1997 (ANA)
Greek equities ended moderately higher in cautious trading on
the Athens Stock Exchange yesterday with investors remaining on
the sidelines at the start of a crucial week for the market.
Traders said a decision by the International Olympic Committee
on September 5 on whether Athens would host the 2004 Olympic
Games was one factor dampening sentiment.
On the same day, the prime minister was due to make a speech on
the socialist government's fiscal and incomes policy for 1998 at
the Thessaloniki International Trade Fair, news crucial to the
future of the Greek market.
The general index closed 0.77 percent higher at 1,529.27 points
after losing 1.64 percent early in the session.
Sector indices were mostly higher. Banks rose 1.22 percent,
Leasing fell 0.33 percent, Insurance ended 0.26 percent up,
Investment increased 0.35 percent, Industrials rose 0.91
percent, Construction was 0.05 percent higher, Holding jumped
2.75 percent and Miscellaneous fell 0.36 percent.
The parallel market index for small cap companies eased by 0.09
percent.
Trading was moderate and turnover was 9.9 billion drachmas.
Broadly, advancers led decliners by 109 to 78 with another 22
issues unchanged.
Athinea, Xylemporia, Kreka and Levenderis scored the biggest
percentage gains, while European Trust, Daring, Eskimo and Maxim
suffered the heaviest losses of the day.
National Bank of Greece ended at 33,500 drachmas, Ergobank at
16,930, Alpha Credit Bank at 18,750, Delta Dairy at 3,930, Titan
Cement at 14,450, Intracom at 11,800 and OTE at 6,250.
In the domestic foreign exchange market the US dollar rose
substantially against the drachma, while the DMark was
fractionally lower.
[26] Greek bourse takes wait-and-see attitude-analysts
Athens, 02/09/1997 (ANA)
A drop in stock prices and a decline in trading volume were the
main features in August on the Athens Stock Exchange compared
with the previous month, according to a monthly market bulletin
by Ionian Bank.
The Ionian Bank's composite index for the market fell by 5.01
percent in the month, while the volume of trading shrank to
204.257 million drachmas from 278.248 million in July, a drop of
26.59 percent.
The bank said that the Athens bourse had adopted a wait-and-see
attitude, a stance limiting price movements. Its composite index
moved in a 55-point range during the month.
Economic policy developments, a spectacular rise in the US
dollar's parity against the drachma and a decision on whether
Athens will host the 2004 Olympic Games were the main cautionary
forces in the market.
[27] Xiosbank basic lending rate unchanged
Athens, 02/09/1997 (ANA)
Xiosbank has granted 5,300 housing loans since its founding
totaling 23 billion drachmas, a bank statement said yesterday.
The bank's basic lending rate for firms will remain unchanged
this week at 17.50 per cent, while the Xios Alma deposit account
rate will also remain unchanged at an annualized 9.92 per cent,
with monthly payment of interest.
[28] One-year T-bill issue today
Athens, 02/09/1997 (ANA)
The finance ministry today will issue a new series of one-year
treasury bills, bearing a 9.50 per cent interest rate, with a
7.5 per cent tax on interest-bearing earnings.
Treasury bills are freely transferable and can be purchased
either in drachmas or foreign currencies.
They will only be available today through the Bank of Greece or
commercial banks.
[29] Stock re-purchases by two steel-makers
Athens, 02/09/1997 (ANA)
Two steel-makers, Viohalko and Halkor, decided to purchase 10
per cent of their own shares from the Athens Stock Exchange. The
move is in accordance with current legislation and was taken at
the two companies' general assemblies.
Viohalko will buy more than 2.8 million shares at a ceiling
price of 6,350 drachmas each. Halkor shares will be purchased at
a ceiling price of 2,680 drachmas each and the company will buy
almost 2.8 million shares.
[30] Business meeting concludes on Lesvos
Athens, 02/09/1997 (ANA)
The first business meeting, entitled "Thrace, Aegean, Cyprus",
wound up late Sunday night on the island of Lesvos.
It was attended by more than 200 businesspeople from the
respective regions, as well as government officials. During the
meeting it was ascertained that the development of Greece's
eastern border regions was connected to the development of the
regions of Thrace, the islands and Cyprus.
A joint communique signed by various commercial and industrial
chambers noted the responsibility by businesspeople themselves
in the development process, while it stresses that both the
Greek and Cypriot governments had to realize the uniformity of
the three regions and support efforts by businesses.
It was also decided that the business meeting become an
institution, with the second such meeting to be held in Thrace
in summer next year.
End of English language section.
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