Athens News Agency: Daily News Bulletin in English, 97-10-07
From: The Greek Press & Information Office, Ottawa Canada <grnewsca@sympatico.ca>
ATHENS NEWS AGENCY BULLETIN (No. 1308), October 7, 1997
Greek Press & Information Office
Ottawa, Canada
E-Mail Address: grnewsca@sympatico.ca
CONTENTS
[01] EU urges private sector to help create Mediterranean FTZ
[02] Greece: EU should clarify terms for accession-candidates
[03] Tsohatzopoulos to visit Cyprus
[04] Gurel: Ankara won't recognize 12-mile territorial waters,
10-mile airspace
[05] Greece, Ukraine sign defense co-operation agreement
[06] Athens criticizes second 'Observer' claims
[07] Simitis-Yilmaz meeting may change course of Greek-Turkish
relations
[08] Beatrix arrives in Greece
[09] Tsaldaris buried at Athens First Cemetery
[10] PASOK, Synaspismos take first tentative steps towards
co-operation
[11] Parliament reopens after summer recess
[12] Parliament pays tribute to Tsaldaris
[13] Euro-MP Roubatis takes Ankara to task over Turkish lawyer's
conviction
[14] Tirana rejects 3 new Orthodox Metropolitans, explains terms
[15] President to visit Mount Athos
[16] Greek children's dance troupe in FYROM
[17] Attiko Metro says no danger of further subsidence on
Panepistimiou
[18] European conference in Kalamata
[19] Open University program to begin next year
[20] Onassion inaugurates children's heart surgery unit
[21] Gov't again calls for return of Parthenon marbles
[22] Italian author wins Cultural Capital prize
[23] Greek exports to Japan slip 3.6 pct in first-half 1997
[24] National Bank of Greece to stage rights issue
[25] Greek stocks end flat after hitting 1,800 pts during trade
[26] Greek unions, bosses clash over EU working week debate
[27] National Bank reduces interest rates
[28] Mantelis to attend EU transport ministers council
[01] EU urges private sector to help create Mediterranean FTZ
Athens, 07/10/1997 (ANA)
The private sector is the key to implementing a scheme backed by
the European Union to create a free trade zone (FTZ) in the
Mediterranean, EU Commissioner Christos Papoutsis announced
yesterday.
Mr. Papoutsis, who is responsible for energy, tourism and small
and medium-sized enterprises (SMEs), was speaking at the two-day
3rd "Euro-Mediterranean Industrial Summit" that began in Athens
yesterday.
"Despite uncertainty in politics and regional security, the
Barcelona process (of October 1995) is at an advanced stage and
major progress has been made in developing Euro-Mediterranean
co-operation," Mr. Papoutsis said.
The EU and 27 countries involved in the project plan to set up
the free trade zone spanning the EU and Mediterranean by 2010.
On his part, Prime Minister Costas Simitis told delegates in a
written message that Greece, which is centrally placed
geographically for such a project, has pledged to work towards
creation of an FTZ that would boost prosperity in the long term.
Taking part in the conference are more than 500 delegates from
31 countries from Europe, North Africa and the Middle East.
Organizers are the Federation of Greek Industries (SEB),
Greece's development ministry, the EU's executive Commission and
UNICE, a European association of industry and labour groups.
Saying that business ties in the region had enormous room for
expansion, SEB president Iason Stratos named the key sectors for
co-operation as agricultural foodstuffs, irrigation, energy,
fish farms and environment-friendly tourism.
Development Minister Vasso Papandreou urged delegates to
accelerate the pace of co-operation in the region following a
healthy start to the project.
Many Greek firms were in a position to invest in southern
Mediterranean countries, Ms Papandreou said.
She also stressed the need for countries of the region to focus
their interest in building all kinds of supranational networks,
involving firms, infrastructure, communications, information
systems, trading etc.
UNICE President Francois Perigot described the Athens summit as
an important step towards converting the Mediterranean into a
region of peace, stability and greater mutual understanding at
all levels. He stressed, however, that the economic integration
among countries of the Mediterranean's south is proceeding very
slowly due to the many political tensions in the area, while
there has been greater progress in the north-south "front", even
though the MEDA program funds have failed to reduce the
divergences of the economies involved.
The Athens summit's conclusions will be put to the Euro-Med
co-operation group's ministerial meeting in Morocco on Oct.
30-31.
[02] Greece: EU should clarify terms for accession-candidates
Luxembourg, 07/10/1997 (ANA/M. Spinthourakis)
Alternate Foreign Minister George Papandreou, who took part in
the EU General Affairs Council yesterday, expressed Greece's
reservations to an "unconditional" institutionalization of a
European conference of the EU with prospective member-states.
Mr. Papandreou said, among others, that Greece would not accept
a new institution with ambivalent positions; that the role of
the conference should be clearly defined; that conditions for
the participation of a prospective member-state should be
clearly defined and that it should be decided whether the
Conference will include all 11 prospective members (10 east
European nations and Cyprus) or only the six for which the
Commission has proposed commencement of negotiations within 1998
- Hungary, Poland, the Czech Republic, Slovenia, Estonia and
Cyprus.
The Greek side, at any rate, made it clear that it did not
intend to favour the participation of Turkey in the Conference
under present conditions.
Meanwhile, German Foreign Minister Klaus Kinkel briefed his
counterparts on the content of discussions he held last week
with Turkish Prime Minister Mesut Yilmaz. Mr. Kinkel noted that
the 15 EU members ought to examine the issue of creating a
special relationship between the Community and Turkey, but also
noted the special significance which Ankara's good neighbourly
relations with Athens holds for Turkey's European prospects.
Commenting on Mr. Kinkel's speech at the session, Mr. Papandreou
said that Greece did not oppose Turkey's European prospects if
Greek-Turkish relations were smoothed out; a process for the
solution of the Cyprus problem began, and if Turkey responded to
the Community's preconditions for membership of a
candidate-country, mainly in the area of human rights.
Referring to other matters, Mr. Papandreou cast doubt on whether
the 0.46 per cent of the EU budget, estimated at ECU275 billion,
which the Commission had proposed to be devoted to the
structural funds, would cover the needs of the sector in view of
the Union's enlargement. Regarding the Community's new fiscal
framework, Mr. Papandreou expressed concern at the Commission's
proposal of 1.27 per cent of Community GDP as a ceiling for
financing the needs of the 15 and enlargement, when a few years
ago with fewer members and more moderate ambitions, the
respective level stood at 1.33 per cent.
[03] Tsohatzopoulos to visit Cyprus
Nicosia, 07/10/1997 (ANA/G. Leonidas)
National Defense Minister Akis Tsohatzopoulos will be in Cyprus
on October 14 to observe a number of events included in the
annual "Nikiforos" military exercise.
Mr. Tsohatzopoulos, who will land at Paphos airport, will attend
a parade on October 15 of the armed forces due to participate in
the military exercise. Cypriot President Glafcos Clerides will
also be present.
During his stay in Paphos, Mr. Tsohatzopoulos will address the
opening ceremony of the Synod of the Network of Sister Cities of
Greece and Paphos, after an official invitation by Paphos's
municipal authorities.
The Sister Cities Network, founded three years ago, comprises
the municipalities of Paphos, Kalamaria, Corfu, Lamia, Preveza
and Lesvos. The network's aim is to strengthen links between the
cities and confront Turkish expansionism in border regions.
[04] Gurel: Ankara won't recognize 12-mile territorial waters,
10-mile airspace
New York, 07/10/1997 (ANA/M. Georgiadou)
Turkey's Minister to the Prime Minister Sukru Gurel termed
"Greek-Turkish relations not good" in a press interview, adding
that "I do not see a splendid prospect for an improvement in
relations in the near future. I merely express wishes."
The interview is published in the New York-based Greek
expatriate newspaper "Proini", today's edition.
Replying to a question on a written statement by the US State
Department regarding "additional territorial differences apart
from Imia", Mr. Gurel said:
"Of course, there are additional territorial claims between
Greece and Turkey. Of course, we do not accept Greece's
territorial claims in the Aegean. We do not accept Greece's
claim to extend its territorial waters beyond six nautical miles
which we recognize. We do not accept airspace of 10 nautical
miles, because this airspace must be in harmony with territorial
waters." Mr. Gurel said that there are more "territorial
problems" with Greece and more specifically "some small islands
and islets in the Aegean whose identity is not yet clear with
international agreements."
However, he claimed that Turkey "recognizes and respects Greek
territorial integrity and has no intention of expanding over
Greece's national borders."
[05] Greece, Ukraine sign defense co-operation agreement
Athens, 07/10/1997 (ANA)
The defense ministers of Greece and Ukraine, Akis Tsohatzopoulos
and Olexander Kuzmuk, yesterday signed a bilateral defense
co-operation agreement.
The agreement covers issues such as armaments, the participation
of the two countries in exercises within the framework of the
Partnership for Peace program and co-operation between defense
manufacturing companies in the two countries.
Greece accepted a Ukrainian proposal for the participation of
Greek forces in a Partnership for Peace exercise in Ukraine
scheduled for next year.
During a meeting yesterday morning, Mr. Tsohatzopoulos and Mr.
Kuzmuk ascertained an identity of views on matters relating to
European security.
Stressing the important role played by Ukraine and Russia in
forging European security, Mr. Tsohatzopoulos reiterated
Greece's position that the participation of all countries,
without exception, would be necessary to ensure security in
Europe.
Mr. Kuzmuk said his first official visit to Greece confirmed the
will and readiness of both countries to further promote
bilateral co-operation.
Mr. Kuzmuk was later received by President of the Republic
Kostis Stephanopoulos.
[06] Athens criticizes second 'Observer' claims
Athens, 07/10/1997 (ANA)
Greece yesterday termed "unacceptable" a second article in the
British newspaper "The Observer" claiming links between Athens
and Kurdish terrorists, while noting that it was not as
provocative as the first one.
The first article, based on the claims of Kurd Seydo Hazar,
alleged that Greece was harbouring and abetting Kurdish
terrorists, appeared in last Sunday's edition of the newspaper.
The claims were vehemently rejected by Athens. The second
article was published in Sunday's issue.
The first article drew severe criticism from prominent British
personalities, including playwright Harold Pinter and Lord
Avebury.
Government spokesman Demetris Reppas said yesterday that the
newspaper had treated the protest letters with disdain, adding
that the government was examining all the political and legal
procedures in order to respond in a manner and at a time which
it would choose "in order for the truth to shine".
Mr. Reppas said Greece firmly believed in its policy and saw no
need to "embellish" it through the allocation of funds.
"This is necessary only with respect to the policies of other
countries which do no respect international law and
international conventions," he said.
[07] Simitis-Yilmaz meeting may change course of Greek-Turkish
relations
Athens, 07/10/1997 (ANA)
Greece said yesterday that it was awaiting the visit of Turkish
Premier Mesut Yilmaz and Foreign Minister Ismail Cem, in the
hope that a meeting with the Greek political leadership might
change the climate in relations between the two countries which
had remained since recent talks in New York.
Mr. Yilmaz and Mr. Cem will visit Greece in early November to
attend the Balkan summit on Crete.
In statements yesterday, government spokesman Demetris Reppas
said "what remained from New York is the ineffectiveness of the
approach since, on the sole responsibility of Turkey, there was
no possibility (for success)".
Foreign Minister Theodoros Pangalos had talks recently on the
sidelines of the United Nations General Assembly in New York.
Mr. Reppas expressed the hope that something would change in
Turkey's policy so as to make the Crete meeting "effective".
Communication between both sides continues to exist, the
spokesman said, adding that both countries were quite able to
formulate their respective policies.
Mr. Reppas attributed the recent tension in Greek-Turkish
relations to the stance adopted by Ankara in New York, saying
that talks between Turkish officials and representatives of
Greece and the United States had led to Mr. Pangalos expressing
his outrage.
[08] Beatrix arrives in Greece
Athens, 07/10/1997 (ANA)
Queen Beatrix of the Netherlands arrived early yesterday evening
at Corfu airport, and will fly to Athens this morning after
spending the night on the Ionian island.
The Netherlands Queen is on a three-day official visit at the
invitation of President of the Republic Kostis Stephanopoulos,
whom she is scheduled to meet later today.
[09] Tsaldaris buried at Athens First Cemetery
Athens, 07/10/1997 (ANA)
Former Parliament president, minister and longtime main
opposition New Democracy deputy Athanasios Tsaldaris was buried
at the Athens First Cemetery yesterday afternoon with state
honours. Tsaldaris died on Saturday night aged 76.
His funeral procession passed through streets in downtown Athens
before stopping outside Parliament on Syntagma Square.
Earlier, a church service was held at the Athens Metropolitan
Cathedral, officiated by the Metropolitan of Marathon Meliton.
Eulogies were given by Parliament President Apostolos
Kaklamanis, Education Minister Gerassimos Arsenis, ND leader
Costas Karamanlis, Stratis Korakas on behalf of the Communist
Party of Greece (KKE), Fotis Kouvelis on behalf of the Coalition
of the Left and Progress, Demetris Tsovolas for the Democratic
Social Movement (DHKKI) and Antonis Samaras for the Political
Spring party.
The church service was attended by Prime Minister Costas
Simitis, Parliament President Apostolos Kaklamanis, ministers,
Athens Mayor Demetris Avramopoulos, party leaders, former
president of the republic Christos Sartzetakis and others.
Tsaldaris is survived by his wife, Pandora, and daughter Eleni.
[10] PASOK, Synaspismos take first tentative steps towards
co-operation
Athens, 07/10/1997 (ANA)
Prefectural committees within Athens' first district from both
the ruling PASOK and the opposition Coalition of the Left and
Progress (Synaspismos) parties met yesterday to discuss issues
of common interest and possible co-operation in local government
elections next October.
The committees from both parties agreed that the present policy
of Athens Mayor Demetris Avramopoulos was inadequate, claiming
that the city is having problems in finances and transport, a
lack of transparency in procedures and a general neglect of
poorer sections of Athens where immigrants live.
The committees agreed that co-operation between the two parties
should continue, and discussion should continue on whether both
parties should support a single nominee for mayor of Athens.
[11] Parliament reopens after summer recess
Athens, 07/10/1997 (ANA)
Parliament resumed sessions yesterday following the summer break.
The traditional blessing was conducted by Metropolitan of
Aitolia and Akarnia Theocleitos, who was standing in for
Archbishop of Athens Serapheim, who was unable to attend due to
ill health.
Prime Minister Costas Simitis, the Cabinet, the leaders of
political parties and members of Parliament attended the
ceremony.
This Parliament session will run through to June 1998 when it
will go into recess for the summer break.
[12] Parliament pays tribute to Tsaldaris
Athens, 07/10/1997 (ANA)
The first session of Parliament yesterday held a minute's
silence in tribute to the late Athanasios Tsaldaris, who died of
cancer on Saturday evening at the age of 76.
Tsaldaris was formerly president of parliament.
Parliament President Apostolos Kaklamanis said Tsaldaris's
passing was a great loss and that he had made great innovations
as president of the body.
New Democracy leader Costas Karamanlis said Tsaldaris's daily
presence at Parliament was the greatest honour he could pay to
democracy, calling him "a great patriot".
Cosmas Sfyriou, of ruling PASOK, said political life was
impoverished by the loss of Tsaldaris
Secretary-General of the Communist Party of Greece Aleka
Papariga said he stood out for his moral stance and his
contribution to the country while Left Coalition leader Nikos
Constantopoulos said he was a marvelous person.
Democratic Social Movement president Demetris Tsovolas said
Tsaldaris had contributed much both to his party, New Democracy,
and to the country.
Press and Media Minister Demetris Reppas paid tribute to
Tsaldaris's sense of duty.
[13] Euro-MP Roubatis takes Ankara to task over Turkish lawyer's
conviction
Brussels, 07/10/1997 (ANA)
The Turkish government is inconsistent, unreliable and dishonest
towards the European Union on the issue of human rights, PASOK
Euro-MP and vice-president of the Socialist Group, Yiannis
Roubatis, stated in relation to the persecution of Turkish
lawyer Esber Giamugdereli.
Mr. Giamugdereli, who is blind, is known for his defense of
dozens of dissidents before Turkish courts, was sentenced to 23
years in prison by an Ankara appeals court on the basis of
Turkey's so-called anti-terrorist law.
Mr. Roubatis has submitted questions to the European Commission
and the Council of Ministers, asking to be informed of the
following:
- What specific actions the two bodies intend to take so that
Mr. Giamugdereli is immediately released and for the Turkish
government to abolish all legal arrangements, which the
country's Foreign Minister Ismail Cem and President Suleyman
Demirel themselves have described as "shameful"?
- How long will the two bodies tolerate the deception,
inconsistency and unreliability of successive Turkish
governments, which have been promising for two years now to
abolish all legal arrangements used to violate human rights and
limit freedom of thought, and constitute an excuse even for
taking the life of Turkish citizens?
Finally, Mr. Roubatis asks whether the European Commission and
the Council do not consider that as long as this situation
continues any progress in Turkey-EU relations is inconceivable.
[14] Tirana rejects 3 new Orthodox Metropolitans, explains terms
Tirana, 07/10/1997 (ANA/P. Haritos)
Three Orthodox Metropolitans appointed to serve in Albania by
the Ecumenical Patriarchate met with the Albanian Minister of
State Kastriot Islami yesterday, as Tirana continues its
opposition to the appointments on grounds that it had not been
consulted.
The opposition by the socialist government of Fatos Nano follows
rejection of the appointments by the previous Berisha government.
Archbishop Anastasios of Tirana and All Albania also attended
the meeting.
Following the meeting, Mr. Islami said: "The meeting was
friendly, the three understood our positions, which are linked
to previous decisions by the Albanian government".
He expressed confidence that "three Metropolitans will be found
to integrate into the Holy Synod of Albania".
The government, he said, believed in "creating a Holy Synod
through the appointment of Albanian nationals as heads of the
Albanian Autocephalous Orthodox Church. Our stance reflects a
traditional and historical stance that calls for an
autocephalous church".
The three Metropolitans were not received by the Albanian
president, the prime minister or the foreign minister for
various reasons.
Difficulties emerge from an Albanian law forbidding the creation
of a Synod comprised entirely by Greek nationals.
The delegation is expected to return to Istanbul this afternoon.
The delegation was comprised of Metropolitans Evangelos of
Pergis, Melitonas of Philadelphia and Archimandrite Kandre of
Elia.
[15] President to visit Mount Athos
Athens, 07/10/1997 (ANA)
President Kostis Stephanopoulos will pay a three-day visit to
the all-male monastic community of Mount Athos early next week
after attending events marking the bloody Kileler farmers'
uprising in 1910.
Mr. Stephanopoulos will begin his tour at Karyes on Monday
morning. During his stay, he will visit several monasteries and
have talks with representatives of the holy community' civil
administration.
It will be Mr. Stephanopoulos's first visit to Mount Athos since
becoming president of the republic. After Mount Athos, Mr.
Stephanopoulos will travel by helicopter to Verria to attend
events marking the town's liberation from the Turks.
[16] Greek children's dance troupe in FYROM
Skopje, 07/10/1997 (ANA)
The Greek children's dance troupe Momogeroi participated in a
children's folk dance festival in the Former Yugoslav Republic
of Macedonia (FYROM) for the first time. The children's cultural
centre Karpos organized the festival, as is the ca se every
year. Dancing troupes from 10 countries and regions participated
this year - Yugoslavia, Bulgaria, Russia, Ukraine, Georgia,
Belarus, Tataristan, Poland, Hungary and Greece. The festival,
"Dancing Without Borders", lasted for five days. Momogeroi was
composed of 18 children, the oldest of which was 14.
[17] Attiko Metro says no danger of further subsidence on
Panepistimiou
Athens, 07/10/1997 (ANA)
Problems continue to plague the "Attiko Metro" company
constructing the Athens underground railway as fears grew of
subsidence that could threaten buildings along central
Panepistimiou Avenue, following the collapse of a kiosk on
Friday night.
Yesterday two traffic lanes remained closed, while Attiko Metro
chairman Leonidas Kikiras gave assurances that there was no
danger to surrounding buildings, and rejected claims by academic
Pantelis Theoharis to the contrary.
"Of course I'm talking about the buildings themselves, not
signboards," said Mr. Kikiras, adding that work on line two to
Dafni would continue using the giant TBM drill known as the
"Metro-mouse", although conventional drilling methods would be
used on line three from Syntagma Square to Kerameikos, which
passes under many of Athens' ancient monuments.
Professor Theoharis maintains that the Metro-mouse will come up
against major problems at the corner of Panepistimiou and Sina
Street, which used to be a water-course.
Meanwhile, yesterday, residents of Panepistimiou 44 said they
had been told by Attiko Metro officials to vacate the building
as it had tilted 4mm and a crack had appeared in the walls. Mr.
Kikiras denied that any such order had been given and contended
that the crack was an old one. He said all buildings above the
Panepistimiou tunnel works were being checked on a 24-hour basis.
Meanwhile, public prosecutor Manolis Rasidakis yesterday ordered
an investigation as to whether charges of criminal liability
should be brought, following press reports over the past few
days with regard to the tunneling under Panepistimiou Avenue.
[18] European conference in Kalamata
Athens, 07/10/1997 (ANA)
A European conference on research and technology in programs to
confront natural disasters such as forest fires, floods and
water supplies is to be held today at the Kalamata Municipal
Cultural Centre.
It is being organized by the Messinia Forestry Directorate in
co-operation with the European Union organizations ALENIA,
INNOVA, ITALSOFT, LINK ARCHIMEDES, O-TECH, SYSECA, IDETRA,
APTIEL and BMT within the NOW-ESPRIT action plan, under the
auspices of the General Secretariat for the Peloponnese.
The NOW-ESPRIT plan is aimed at promoting the results of
programs related to dealing with natural disasters and water and
air pollution.
[19] Open University program to begin next year
Athens, 07/10/1997 (ANA)
Adult education programs at universities and technical colleges
are to begin in February 1998, according to an announcement
yesterday.
The programs will be available, subject to certain conditions,
to those who failed to enter universities, those who are
studying abroad and wish to return to Greece, and to those who
have a senior high school diploma and wish to continue their
studies .
Education Minister Gerassimos Arsenis also announced that within
the next two months presidential decrees and ministerial
decisions will be released with regard to the recently announced
high school reforms.
Meanwhile, commenting on television reports that high school
teachers were giving private coaching to students, the minister
said an official investigation had been ordered into the
accusations. He noted that coaching would soon be introduced
into the schools themselves for those pupils who needed it.
[20] Onassion inaugurates children's heart surgery unit
Athens, 07/10/1997 (ANA)
A new era has began in Greece's cardiovascular surgery field
with the official operation of a children's heart surgery
section at the Athens-based Onassion Cardiosurgical Centre.
The new section was inaugurated yesterday by Health and Welfare
Minister Costas Geitonas, who stressed that the Onassion Heart
Surgery Centre played a leading role in the country's health
system.
When fully developed, the new centre will be able to take care
of the entire range of heart-related diseases requiring
operation, considerably reversing the trend of resorting to
foreign hospitals and medical centres that existed so far. About
800 to 1, 000 children are born each year with a heart-related
disease, of which 500 to 600 need to be operated.
The new section of the Onassion will be able to perform about
500 operations annually.
[21] Gov't again calls for return of Parthenon marbles
Athens, 07/10/1997 (ANA)
The European Parliament's cultural committee should intervene on
behalf of Greece to have the Parthenon marbles returned from
Britain, Culture Minister Evangelos Venizelos said yesterday.
He delivered the appeal at the meeting of the committee's
members in Thessaloniki.
"The issue concerns two member-states and our position is rather
delicate. Despite this, we shall return to this, discussing the
issue at the committee," Committee President Peter Pecks said.
PASOK Eurodeputy Angela Kokola said that the Europarliament's
role was more consultative, while decision-making is the
responsibility of the European Commission and the European
Council.
The eight-member committee will continue its meeting today.
[22] Italian author wins Cultural Capital prize
Athens, 07/10/1997 (ANA)
Italian author Antonio Tabuchi won the "Aristeion" (excellence)
European literature prize in Thessaloniki yesterday with his
novel "Sostiene Rereira" ("Rereira Claims").
The prize was established in 1990 by initiative of the late
actress and culture minister Melina Mercouri, and is awarded at
the annual Cultural Capital of Europe to an original novel and a
translation that promote European culture and new writing.
The translation prize was won by the German translation of
Patrick McCade's book "The Butcher Boy", made by Austria's Hans
Christian Oeser.
The awards carry six million drachmas in prize money each and
will be handed out by Culture Minister Evangelos Venizelos on
Dec. 9 in Thessaloniki.
[23] Greek exports to Japan slip 3.6 pct in first-half 1997
Athens, 07/10/1997 (ANA)
Greek exports to Japan edged down 3.6 percent to 47.6 million
dollars in the first half of 1997 against the same period of
1996, Japan's foreign trade bureau in Athens (Jetro) said
yesterday.
Japanese exports to Greece in January-June slumped 37.6 percent
to 323.7 million dollars, Jetro said in a monthly trade report.
Greek exports to Japan are seen rising in 1997 following
implementation of Hermes, an action plan for 1997-1999 that was
set up by Greece's national economy ministry.
The plan aims to step up Greek exports and business contacts in
the Japanese market.
[24] National Bank of Greece to stage rights issue
Athens, 07/10/1997 (ANA)
National Bank of Greece, a blue chip on the Athens bourse, will
hold a two-for-10 rights issue at 23,000 drachmas a share in
order to tap the market for 80.37 billion drachmas.
Shareholders endorsed the move, which means the state bank's
shares will trade ex-rights on Tuesday. Subscription is from
October 10-November 14.
Issued will be 3.49 million new shares with a par value of 5,800
drachmas each.
Shareholders of the new stock will be entitled to the bank's
dividend on 1997 profits.
Funds acquired from the rights issue will allow the bank to
create a stronger presence abroad and rationalize companies in
the group, National Bank's chairman Theodoros Karatzas said.
[25] Greek stocks end flat after hitting 1,800 pts during trade
Athens, 07/10/1997 (ANA)
Greek equities ended flat after showing upward momentum during
trade and briefly breaking key resistance at 1,800 points.
Showing signs of consolidation, the Athens general share index
finished at 1,779.64 points, up 0.02 percent. Turnover was high
at 48.8 billion drachmas, boosted by block trades.
Sentiment still was upbeat on Friday's news of a substantial
drop in consumer price inflation in September to 4.9 percent,
paving the way for further interest rates declines.
Robust first-half corporate profits and forecasts for the year
also acted a backdrop to the encouraging news on inflation.
The bourse set three new record highs last week, straining
towards the stubborn resistance level, which it had failed to
touch until today's trade.
Most sector indices scored gains. Banks rose 0.61 percent,
Leasing increased 0.76 percent, Insurance fell 0.74 percent,
Investment jumped 1.92 percent, Industrials were 0.54 percent
down, Construction slumped 1.18 percent, Holding was 1.00
percent up an d Miscellaneous rose 0.59 percent.
The parallel market index for small cap companies finished 0.46
percent higher.
Advances led declines by 123 to 102 with another 25 issues
unchanged of 250 equities traded.
Among the highest percentage gainers to finish at the daily
eight percent upper volatility limit were Boutaris (preferred),
Intertek, Iliofin (common), Aeolian, Evropaiki Pisti (common),
Aspis Pronia (preferred) and Commercial Investment.
The largest percentage losers were Ridenco (-7.6), Mohlos (-7.4
percent), Bank of Central Greece (common, -6.7 percent), and
Bank of Central Greece (preferred, -6.5 percent).
National Bank of Greece ended at 34,950 drachmas, Ergobank at
19,700, Alpha Credit Bank at 20,400, Delta Dairy at 4,290, Titan
Cement at 17,000, Intracom at 14,900 and Hellenic
Telecommunications Organization at 6,460.
[26] Greek unions, bosses clash over EU working week debate
Athens, 07/10/1997 (ANA)
Greek unions and employers are at loggerheads over moves to
change the duration and structure of the working week that are
being debated by countries in the European Union.
The socialist government has cited flexible schedules and more
part-time work as topics for debate with the two sides as part
of a broader dialogue on reform in the labour market, pensions
and state health funds.
On the sidelines of an EU-backed industry conference in Athens,
the General Confederation of Greek Labour (GSEE) repeated its
demand for the working week to be cut to 35 hours on the same
pay but declined to back proposals for abolition of the
eight-hour working day.
"As far as GSEE is concerned, there is no question of abolishing
the eight-hour working day. I do not believe there will be such
a development," GSEE president Christos Polyzogopoulos said.
"If the proposal (for a 35-hour working week) is accepted, we
could then discuss the specifics of implementation."
The Federation of Greek Industry (SEV) also adhered to its line,
which entails allowing greater flexibility in the labour market,
including working hours. "It is quite clear that we are lagging
far behind the others (in the EU). We will pay dearly for this
with lower growth and higher unemployment," SEV vice president
Nikos Analytis said.
Employers want to cut labour costs without reducing wages.
Industries are forced to order overtime beyond the legally
allowed limit of 30 hours annually for industry against a
200-hour limit for the public sector.
"As far as we are concerned, the issue is not whether we have an
eight-hour working day but the flexible arrangement of working
time... Working hours should reflect the economic operation of
enterprises," Mr. Analytis said.
At a daily briefing for reporters on the same day, government
spokesman Demetris Reppas said the government would take a
decision on whether to cut the working week after finalizing
economic policy for 1998. Proposals by France and Italy for
shorter working hours were positive overall, Mr. Reppas said.
[27] National Bank reduces interest rates
Athens, 07/10/1997 (ANA)
The National Bank of Bank will reduce its loan interest rates by
up to 0.75 per cent and its deposits interest rates by 0.50 per
cent as of today.
The main interest rate for working capital loans was set at
14.50 per cent from 15 per cent, the stable interest rate
Ethnoanaptyxiakou 10 per cent from 10.25 per cent, the stable
loans interest rate for fixed assets 12 per cent from 12.75 per
cent, the main loans interest rate for fixed installations and
equipment 12.50 per cent from 13 per cent and the fluctuating
interest rate for housing loans 12.50 per cent from 13 per cent.
The new savings bank deposits interest rate will be 8.50 per
cent from 9 per cent and 7 per cent for current accounts from
7.5 per cent.
[28] Mantelis to attend EU transport ministers council
Athens, 07/10/1997 (ANA)
Transport and Communications Minister Tassos Mantelis leaves on
Wednesday for Luxembourg to participate in a meeting of EU
transport ministers.
The meeting, on Thursday, will focus on the implementation of
competition rules in air transport and the joint financing of
works related to the European transport network by the public
and private sectors.
The Workers' Housing Organization (OEK) is to make 20 billion
drachmas available over the next four years in the Kavala
prefecture, according to an announcement by OEK president
Thanasis Hanakoulas.
The homes will be built in Eleftheroupoli, Batis and
Antiphilippi. Another 720 homes are to be built in Kavala and
Palio.
End of English language section.
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