Athens News Agency: Daily News Bulletin in English, 97-11-13
From: The Greek Press & Information Office, Ottawa Canada <grnewsca@sympatico.ca>
ATHENS NEWS AGENCY BULLETIN (No 1339), November 13, 1997
Greek Press & Information Office
Ottawa, Canada
E-Mail Address: grnewsca@sympatico.ca
CONTENTS
[01] 1998 'convergence' budget tabled, aims for EMU by 2001
[02] ... The drachma
[03] ... Latest Bank of Greece intervention
[04] ... Reppas
[05] ... EU transactions
[06] Opposition
[07] ... GSEE cites continuous decrease in workers' income
[08] Gov't says recent Holbrooke statements 'positive'
[09] ... Holbrooke departs Turkey
[10] Ankara's response
[11] Holbrooke arrival in Belgium
[12] Simitis says Greece will fulfill convergence criteria by end of
'98
[13] ... Premier response to Synaspismos question on austerity
[14] G. Papandreou to represent premier at ESP session in Brussels
[15] Pangalos continues visit to Spain
[16] EDEK party leader Lyssarides meets with Greek leadership
[17] US State Dept. on recent Holbrooke contacts
[18] Kaklamanis meets with Kinkel, Sussmut
[19] Constantopoulos critical of co-operation with PASOK
[20] Alavanos takes racist violence in Germany to Europarliament
[21] Earthquake in northern Ionian
[22] Transport agreement with Austria
[23] Greek stocks show signs of consolidation
[24] OTE formalizes customer rights
[25] Greece to host conference on east European public administration
[26] EU to extend social scheme to third country nationals
[27] EFG Eurobank appoints new chief for Balkan investments
[28] Conference on currency upheavals/financing
[29] EOT employees' union calls strike
[30] 270 mln. dr. lost in petrol smuggling scam
[31] President to inaugurate Holocaust memorial in Thessaloniki
[32] Three diplomatic vehicles torched
[01] 1998 'convergence' budget tabled, aims for EMU by 2001
Athens, 13/11/1997 (ANA)
Greece plans to enter Economic and Monetary Union (EMU) by 2001,
but will keep the drachma out of the exchange rate mechanism
(ERM) before joining the European Union's single currency,"
National Economy and Finance Minister Yiannos Papantoniou said
in a press conference yesterday.
Releasing the Greek government's 1998 budget, which was tabled
in Parliament later in the day, Mr. Papantoniou said the
stability of the drachma was the cornerstone of the government's
economic policy, and that the budget aimed to achieve a deficit
to gross domestic product ratio of 2.4 per cent in 1998. The
ratio is sharply down on the 4.2 per cent forecast for 1997, and
well below the 3.0 per cent needed to join EMU. "The government
will not seek the participation of the drachma in ERM+(It) will
keep the drachma's exchange rate stable against the ECU and
later the Euro until Jan. 1, 2001," he said.
Mr. Papantoniou described the budget as one of convergence and
cutbacks in expenses.
Consumer price inflation, currently at 4.7 per cent, is
projected to fall to 2.5 per cent by end-1998.
The budget also predicts a GDP growth of 3.7 per cent next year
against 3.5 per cent in 1997. Unemployment is seen slipping to
9.2 per cent from 9.7 per cent. An innovation in the budget is
the introduction of an inflation-linked tax scale of up to 5.7
per cent.
Revenues are projected to increase 11.2 per cent, and
specifically tax revenues by 12.7 per cent. Expenses will
increase by 4.9 per cent. Defense, education and health and
social welfare are primed to receive increases above average,
7.1, 5.4, 7.4 per cent, respectively.
State coffers will be boosted by tax hikes on real estate
transactions, cigarettes, capital gains, increased objective
taxation criteria, an increase in tax on interest of state bonds
from 7.5 to 10 per cent, a 0.3 per cent levy on stock exchange
transactions and a new flexible tax on mobile phones determined
by use.
Wages for civil servants will rise by 2.5 per cent.
The budget also contains support for the young unemployed,
aiming to create 200,000 new jobs by the year 2000.
The government also plans to speed up its privatization program
in order to increase revenue and cut spending, as well as to
abolish or merge 1,750 public sector agencies.
[02] ... The drachma
Athens, 13/11/1997 (ANA)
Mr. Papantoniou sent a clear message that the government was
prepared to go to great lengths to support the stability of the
national currency.
"The policy of the stable drachma will not be abandoned. It will
be pursued with even greater effectiveness after the
consolidation of the independence of the Bank of Greece with a
relevant bill later this month," he said.
"The future devaluation of the drachma is, therefore, a vain
hope of speculators," he added.
"The government will not hesitate to increase even more the cost
of its borrowing in order to maintain the attractiveness of the
drachma to investors," he stressed.
He said that the decision not to join ERM for two years before
EMU accession will allow Greece to defend the desirable parity
of the drachma with a greater time leeway and margins for
appropriate moves.
The government will thus maintain stable the parity of the
drachma in relation to the ECU and then with the Euro, until
Jan. 1, 2001, when the Greece joins EMU.
[03] ... Latest Bank of Greece intervention
Athens, 13/11/1997 (ANA)
Meanwhile, the Bank of Greece intervened in the domestic money
market yesterday by significantly increasing liquidity through a
new financial instrument.
The central bank supplied 130 billion drachmas in the interbank
market through an auction of a four-month drachma/dollar swap,
backed by long-term state bonds. The issue carried a fluctuating
interest rate starting at 14.3 per cent. Bankers said that Mr.
Papantoniou's statement that the drachma would not enter the
European Rate Mechanism in 1999 was having a positive impact on
the Greek currency.
The statement was interpreted as a sign that the government
would not be forced to devalue the drachma or accelerate its
slide because the currency would be supported by the
government's convergence program to meet Maastricht Treaty
criteria.
In the domestic foreign exchange market the drachma was stable
against most foreign currencies.
[04] ... Reppas
Athens, 13/11/1997 (ANA)
Government spokesman Demetris Reppas later described the new
budget as "consistent, efficient, growth-oriented and
equitable." Speaking after a cabinet meeting that endorsed the
budget, Mr. Reppas said the package would help to attain targets
s et by the government for participation in EMU, and represented
a continuation of the 1997 budget.
The budget would be effective, he said, as it is a continuation
of the 1997 budget. It was fair as it created a safety net for
more vulnerable socio-economic groups.
The government's intention to promote development was reflected
in an allocation of two trillion drachmas for 1998 public
investments. The 1998 budget, he said, was aimed at
consolidating stability in the Greek economy in order to make it
resistant to outside pressures.
Replying to a question about the imposition of new taxes, Mr.
Reppas said:
"These are not exactly new taxes, but an increase in existing
taxes aimed at taxing large businesses and banks."
Low income-earners will also be better off with the restoration
of a pre-1992 withholding tax regime, abolished by the New
Democracy government.
Turning to the drachma, the government was ready to face any new
speculative attack on the national currency, Mr. Reppas said,
praising the central bank's efforts to defend the drachma over
the past week. He added that Greece, which had a significantly
higher growth rate than some other EU member states, had to
speed up its efforts to join the EMU by the end of the century.
[05] ... EU transactions
Athens, 13/11/1997 (ANA)
Greece's net fiscal gain from transactions with the EU is
projected to increase 5 per cent this year, estimated by the
budget to reach 1.478 trillion drachmas.
In 1998, inflows are projected at 2.078 trillion drachmas,
outflows 437.6 drachmas, thus increasing the net gain by 7.6 per
cent, which will thus top 1.590 trillion drachmas.
Total financing for agriculture from national and European
sources in the budget is envisaged at 1.644 trillion drachmas.
Of these, 900 billion will be EU funds. The budget says these
funds will be used to continue efforts to deal with the
structural weaknesses of the farm sector, which represents " an
immediate and urgent" issue.
[06] Opposition
Athens, 13/11/1997 (ANA)
On his part, main opposition New Democracy party leader Costas
Karamanlis said the multitude of new taxes introduced by the
budget provided its main characteristic.
"The government has once again opted for the easy -but painful
for citizens and calamitous for the economy- solution of
imposing new taxes, instead of applying a policy that would lead
to a serious trimming of state expenses and a thrashing of tax
evasion," he said.
He added that the budget imposed new sacrifices on the mainly
lower income strata, and also made the prospect of joining EMU
even more distant.
He also called for a bold program of privatization and a reform
of public administration.
The Communist Party of Greece (KKE) said the 1998 budget was set
in the same mold as in previous years and would impose fresh
burdens on workers and pensioners, according to a statement by
KKE Parliamentary group secretary A. Skyllakos.
These burdens, he said, could not be balanced by small
additional taxes on business activities, nor by a marginal
indexation of the tax scale.
Wage increases were below the inflation rate, leading to a
reduction in real incomes, while social benefits were
insufficient to improve health, education and other sectors, he
said.
With regard to public investments, the KKE observes that these
remain oriented at non-productive areas of interest to the EU
and what it called "multinational capitalists interests."
Coalition of the Left leader Nikos Constantopoulos charged that
the government was not in a position to provide the results
needed for the country to overcome the present crisis.
He described the budget as one of "continuous one-sided
austerity and social injustice", confirming that the government
has lost its social profile.
The Democratic Social Movement (DHKKI) called the budget a
"complete failure" for the government's financial and monetary
policy, as well as being "inhuman and socially unjust."
The fact that budget forecasts for deficits and the public debts
had been overshot, it said, had led the government to impose
harsher austerity measures and taxes, for the ninth year in a
row, at the expense of the working classes.
Political Spring party leader Antonis Samaras said the budget
was a confirmation of the government's dead-ended economic
policy, based on austerity, revenue-collection me-asures and the
hard drachma.
[07] ... GSEE cites continuous decrease in workers' income
Athens, 13/11/1997 (ANA)
General Confederation of Workers of Greece (GSEE) President
Christos Polyzogopoulos said expenditures anticipated by the
state budget for salaries and pensions in the public sector are
not moving in the direction of safeguarding a gradual increase
in workers' income.
Mr. Polyzogopoulos said yesterday that positive points are the
abolition of the clause in the Sioufas Law on auxiliary
pensions, the abolition of withholding 1 per cent of pensions up
to 100,000 drachmas and the enlargement of EKAS.
He also said the partial indexation of the taxation scale and
the rational estimation of income tax deductions positive, but
underlined that "they do not restore taxation injustices" and
consequently the trade unions continue to claim an increase in
the tax-free limit and the scale indexation.
Mr. Polyzogopoulos further said measures concerning youth
employment and solidarity for the elderly unemployed were
"positive interventions."
[08] Gov't says recent Holbrooke statements 'positive'
Athens, 13/11/1997 (ANA)
The government views the visit by special US presidential envoy
Richard Holbrooke to Nicosia as well as his statements there and
later in Ankara as "positive", according to a statement by
government spokesman Demetris Reppas yesterday.
Mr. Reppas referred to the moves being made with regard to the
Cyprus issue as "a most satisfactory development" and he
expressed the hope that future developments would be as good.
The spokesman characterized Mr. Holbrooke's visit to Ankara as
being within the framework of meetings with officials who were
familiar with the Cyprus problem. He refused to interpret these
contacts and added that until now there had been no discussion
of a visit to Athens by the US envoy. With regard to the Turkish
side's proposals for a federal solution in Cyprus, Mr. Reppas
said:
"Turkey, as well as the Turkish Cypriots are insisting on their
positions. I believe they are only harming themselves, since it
is obvious that they are unwilling to contribute to finding a
solution to the Cyprus problem."
The spokesman recalled that it was the Cypriot government that
had first suggested the participation of Turkish Cypriots in EU
accession negotiations. He said he had no doubt that this was
feasible, even if the political problem had not been resolved.
[09] ... Holbrooke departs Turkey
Ankara, 13/11/1997 (ANA - A. Abatzis)
Mr. Holbrooke left Ankara after a meeting yesterday, his second
day in Turkey, with Turkish Prime Minister Mesut Yilmaz.
He said his two days of talks in Ankara had been "positive and
useful" and did not rule out a visit to Athens, depending on the
results of a telephone call he would have with Prime Minister
Costas Simitis.
Mr. Holbrooke said his visit to Ankara, while characterized as
"sudden" by the Turkish press, had been at the invitation of Mr.
Yilmaz and Deputy Prime Minister Bulent Ecevit.
Mr. Holbrooke declined to comment on the substance of his talks
but said that Turkey's relations with the EU had also been
discussed.
"The United States wants to see Turkey as a member of the EU,"
he said.
Meanwhile, the Turkish prime minister, in statements to the
press while en route to Azerbaijan yesterday, said that no
immediate results with regard to the Cyprus issue should be
expected to arise from Mr. Holbrooke's visit and that the stance
of the European Union "made the resolution of the problem more
difficult". He said the US envoy had made no specific proposals,
nor was the US likely to do so before the Cypriot presidential
elections next February.
Mr. Yilmaz also said that Mr. Holbrooke's initiative was "the
most creative and realistic initiative ever in the Cyprus
issue," adding that the US stance is "more creative" than the
EU's.
[10] Ankara's response
Athens, 13/11/1997 (ANA)
Turkish foreign ministry spokesman Nejat Utkan said later it
would come as no surprise if Mr. Holbrooke were to consider the
equal participation of Turkish Cypriots in the island republic's
negotiations for accession to the European Union.
In his regular weekly press briefing, Mr. Utkan said in reply to
questions regarding Mr. Holbrooke's talks in Ankara that
"everyone, above all the European Union, has realized the
difficulties that will arise if only the Greek Cypriot
administration participates in the EU accession talks".
"Although Mr. Holbrooke himself has made no comment, it would be
no surprise if there was some consideration of moves in the
direction of an equal participation by the Turkish Republic of
Northern Cyprus in the negotiations", he said, adding that the
Turkish side had the impression that Mr. Holbrooke wished to
display flexibility in view of the Cypriot presidential
elections.
The spokesman concluded that the solution lay in a federation
"which will ensure equal sovereignty, something which means two
equal sides" as a condition for the whole of Cyprus joining the
EU.
[11] Holbrooke arrival in Belgium
Brussels, 13/11/1997 (ANA - G. Daratos)
Mr. Holbrooke later arrived here yesterday, first visiting
Washington's permanent mission to the EU. According to sources,
he is due to visit NATO headquarters today for a meeting with
alliance Secretary General Javier Solana or NATO's chief of
staff.
Meanwhile, Mr. Holbrooke will attend the beginning of a
symposium of Greek Cypriot and Turkish Cypriot business people
this evening. Several Greek businessmen are expected to attend
as well.
Finally, the US diplomat has also scheduled meetings today with
Alternate Foreign Minister George Papandreou and Under-secretary
Yiannos Kranidiotis this afternoon. Both Greek officials arrive
in the Belgian capital today.
[12] Simitis says Greece will fulfill convergence criteria by end of
'98
Athens, 13/11/1997 (ANA)
During yesterday's Cabinet meeting, which approved the 1998
budget, Prime Minister Costas Simitis called for broad party
support, stressing that by the end of 1999 the country had to
fulfill convergence criteria "so that before the elections of
2000 we will be able to say that we are a member of EMU."
The prime minister referred extensively to the drachma, saying
that "our national currency ran the danger of devaluation," but
that now this danger has passed.
"We shall unwaveringly defend the parity of the drachma," he
said, adding that the government's resoluteness was already
clear to world markets, where the subsidence of the pressure
against the drachma is visible.
Nevertheless, the prime minister stressed that the government
continued to be on the alert, emphasizing that the budget was
tabled earlier than in other years "in order to pre-empt public
discussion on whether or the other course should be followed and
to fence-off discussions on whether the drachma would be
devalued or not."
Mr. Simitis also referred to the measures of social character
accompanying the budget, such as subsidized training and job
programs for the unemployed aged under 27, estimated at about
200,000.
The prime minister also placed emphasis on the government's
incomes policy, dismissing claims of compressed incomes,
austerity and "policies leading wage-earners to despair." He
presented figures showing that wage-earners' average real income
had recorded a cumulative 12.5 per cent increase in the last
three years, and stressed that in all the years between 1994 and
1997 wage increases had by far exceeded the increases in the
country's productivity.
[13] ... Premier response to Synaspismos question on austerity
Athens, 13/11/1997 (ANA)
Later in the evening, Mr. Simitis told Parliament that the
government is not following a policy of austerity and there is a
real increase in workers' income.
Mr. Simitis, who was replying to a question by Coalition of the
Left and Progress (Synaspismos) leader Nikos Constantopoulos,
said working people's real income in 1994 increased 0.9 per
cent, in 1995 3.4 per cent, in 1996 3 per cent and in 1997 4.5
per cent.
On his part, Mr. Constantopoulos said the prime minister is
finding himself in another country and is referring to different
people, terming the budget "harsh" and adding that "mathematical
alchemy does not change reality."
[14] G. Papandreou to represent premier at ESP session in Brussels
Athens, 13/11/1997 (ANA)
Alternate Foreign Minister George Papandreou will leave for
Brussels today to attend a session of the European Socialist
Party, as personal representative of Prime Minister Costas
Simitis.
According to reports, issues will be discussed concerning the
"Agenda 2000" and enlargement.
At 1 p.m. today, Mr. Papandreou and Foreign Under-secretary
Yiannos Kranidiotis will meet US diplomat Richard Holbrooke in
Brussels. Ensuing talks are expected to focus on the Cyprus
issue and Greek-Turkish relations.
At noon, Mr. Papandreou will leave for Paris to meet the general
director of UNESCO.
[15] Pangalos continues visit to Spain
Madrid, 13/11/1997 (ANA)
Foreign Minister Theodoros Pangalos had talks on European Union
enlargement, the situation in the Balkans and Turkey's role in
the region with the president of the Spanish parliament's
foreign affairs committee yesterday.
According to informed sources, discussion centered on Greece's
views on Cyprus' accession to the EU, the tension created by
Turkey in the region and the prospects for broader co-operation
between Mediterranean states.
Later, Mr. Pangalos and the other members of the Greek
delegation met with the president of the Spanish Senate Juan
Ignacio Barrero.
The Spanish press focused on the visit by King Juan Carlos and
Queen Sophia to Greece scheduled for May 1998, as well as the
two countries' identity of views on the question of Spain
joining the military wing of NATO.
[16] EDEK party leader Lyssarides meets with Greek leadership
Athens, 13/11/1997 (ANA)
The president of the Cypriot socialist EDEK party, Vassos
Lyssarides, was received yesterday in Athens by National Defense
Minister Akis Tsohatzopoulos, with talks focusing on the latest
initiatives and future moves in the Cyprus issue.
After the meeting, Mr. Tsohatzopoulos underlined his concern as
to whether a solution of the problem could essentially be based
on objective facts, as well as the Cypriot peoples' needs and
rights.
The defense minister described the US presidential emissary
Richard Holbrooke's initiative as positive, and expressed a wish
that it will lead to mutually acceptable solutions.
The Cypriot leader, on his part, described 1998 as a year of
"open initiatives".
Mr. Lyssarides had earlier met Alternate Foreign Minister George
Papandreou and the president of the Coalition of the Left and
Progress Nikos Constantopoulos.
According to reports, Mr. Lyssarides and Mr. Papandreou
discussed developments on the Cyprus issue and, more
specifically, those concerning relations between Cyprus and the
European Union, as well as the situation prevailing in the
Middle East.
The latest developments on the Cyprus problem were also
discussed between PASOK secretary Costas Skandalidis and Mr.
Lyssarides following the recent visit to Nicosia by Mr.
Holbrooke.
The Cypriot leader said that apart from the US initiative
already underway, concern on the Cyprus issue was also being
expressed by Europe.
The PASOK secretary said the Cyprus problem remained the
cornerstone of the Greek government's strategy.
He added, however, that there could be no further developments
before the opening of Cyprus-EU accession talks.
[17] US State Dept. on recent Holbrooke contacts
Washington, 13/11/1997 (ANA - T. Ellis)
US State Department spokesman James Rubin said here yesterday
that during a telephone conversation he had with special US
presidential emissary on the Cyprus issue, Richard Holbrooke, he
was told that "(Mr. Holbrooke's) talks with the two leaders on
Cyprus were intense, sincere and held in a positive atmosphere."
"Both leaders approached the issue in an open and direct way.
There were no essential results. The aim of the meetings was to
maintain the process. It was a starting point," Mr. Rubin said.
He also said that Mr. Holbrooke, who was in Bonn yesterday and
is traveling to Brussels today, briefed Greek officials via the
telephone on the contacts he is to have there with
businesspeople from Greece, Turkey and the two communities on
Cyprus.
[18] Kaklamanis meets with Kinkel, Sussmut
Bonn, 13/11/1997 (ANA - P. Stagos)
Parliament President Apostolos Kaklamanis, currently in Germany
on a five-day official visit, met here yesterday with German
Foreign Minister Klaus Kinkel, as well as Bundestag speaker Rita
Sussmut.
According to sources, discussions between Mr. Kaklamanis and Mr.
Kinkel were marked by an "intense" exchange of views, while the
Greek Parliament president also brought up the issue of World
War II reparations, something Bonn has rejected outright.
However, Mr. Kaklamanis told reporters his meeting with the
German foreign minister was a "sincere and substantial
discussion".
He added that "(Mr. Kinkel) listened carefully to our views on
bilateral relations and how these can be influenced by issues on
which the German side did not always have a clear position..."
Speaking on Greek-Turkish relations, Mr. Kinkel said "Greece and
Turkey should fix the base of their relations. This is the key
to resolving problems in the region".
According to Mr. Kaklamanis, Ms S0ssmut had a more clear
position on the Cyprus issue than Mr. Kinkel, namely, "that it
was impossible for Cyprus' admission into the EU to be dependant
on Turkey's decision to let free the hostage it has been holding
with military troops".
The European Socialist Group meets today in Brussels to discuss
"Agriculture and Society - a contract to be renewed", with the
participation of Agriculture Minister Stefanos Tzoumakas in the
group's presidium.
The agenda includes the future of agriculture in the European
Union in view of developments such as the EU's enlargement to
include countries of eastern Europe.
[19] Constantopoulos critical of co-operation with PASOK
Athens, 13/11/1997 (ANA)
The leader of the Coalition of the Left and Progress
(Synaspismos) Nikos Constantopoulos reiterated his reservations
yesterday with regard to the form of his party's co-operation
with the ruling PASOK in the next year's local government
elections.
Mr. Constantopoulos said that a kind of regional coalition in
the context of local government programs was quite different to
a general political co-operation of a "package" type, something
sought by the ruling party.
The Synaspismos leader called on PASOK to clarify its position
on the issue of former Synaspismos leader Maria Damanaki's
candidacy for the Athens municipality.
[20] Alavanos takes racist violence in Germany to Europarliament
Athens, 13/11/1997 (ANA)
Coalition of the Left and Progress Eurodeputy Alekos Alavanos
has raised in the European Parliament the issue of racist
violence in Germany, following this week's brutal attack on
Greek restaurant owner Tassos Dalakouras in Brandenburg.
Mr. Alavanos asked how many people had been arrested following
attacks by members of racist groups, as well as the nature of
the crimes. He also asked what measures the German government
was planning to take to fight racist violence.
According to German federal crime-fighting federation figures,
racist attacks have increased by 14 percent since last year,
particularly against migrants from Portugal, Italy, Turkey,
Britain, France and Greece.
[21] Earthquake in northern Ionian
Athens, 13/11/1997 (ANA)
An earthquake measuring 5.1 points on the Richter scale occurred
at 6:15 p.m. yesterday, with an epicenter located 20km south of
the Paxoi islands in the Ionian. The earthquake was felt in the
entire area of the northern Ionian, although no damages were
reported.
[22] Transport agreement with Austria
Vienna, 13/11/1997 (ANA - D. Dimitrakoudis)
A political agreement on transport issues was signed between
Greece and Austria on the sidelines of the European Union
conference of transport and environment ministers.
Transport Minister Tasos Mantelis and his Austrian counterpart
Kaspar Hainhem signed the agreement.
Mutually acceptable and constructive solutions to facilitate
both Greek transporters and Austrian concerns were also examined
at the meeting.
Mr. Mantelis said that as a central European country, Austria
has certain environmental concerns resulting from heavy
transportation passing across the country to west Europe.
The EU conference, taking place just a few weeks before the
World Conference on Climate in Kyoto, will last until tomorrow
and apart from EU ministers, it is also attended by transport
and environment ministers from central and eastern Europe, as
well as Israel and Canada.
[23] Greek stocks show signs of consolidation
Athens, 13/11/1997 (ANA)
Greek equities showed signs of stability with prices ending
mixed to lower yesterday after several sessions on a free fall.
Trading was nervous with wide fluctuations in prices reflecting
market worries over developments in the domestic money market
and monetary policy.
The general index closed 0.29 percent lower at 1,373.80 points
and the FTSE/ASE index lost 0.65 percent to end at 792.76 points.
Sector indices were mixed. Banks fell 0.31 percent, Insurance
rose 0.85 percent, Leasing dropped 0.57 percent, Investment
increased 1.28 percent, Construction ended 1.89 percent up,
Industrials fell 0.31 percent, Miscellaneous jumped 3.05 percent
and Holding fell 1.07 percent.
The parallel market index for small cap companies ended 0.85
percent lower. Turnover was 24.9 billion drachmas.
Broadly, decliners led advancers by 122 to 98 with another 16
issues unchanged.
Ermis, Sysware, Dane, Technodomiki and Halyps Cement scored the
biggest percentage gains, while Koumbas, Nematemboriki and
Sigalas suffered the heaviest losses.
National Bank of Greece ended at 25,500 drachmas, Ergobank at
13,950, Alpha Credit Bank at 15,750, Delta Dairy at 3,590, Titan
Cement at 12,305, Intracom at 11,500 and Hellenic
Telecommunications Organization at 5,200.
[24] OTE formalizes customer rights
Athens, 13/11/1997 (ANA)
Hellenic Telecommunications Organization (OTE) has drawn up a
charter of its services and obligations to customers in line
with practice in other countries.
The charter, endorsed by OTE's board yesterday, lists the state
telecom's services, defines the rights of customers, including
compensation, and those of OTE, including withdrawal of services
in the event of non-payment.
Under the charter, disputes between OTE and customers involving
national and European Union law will be resolved by the state's
national telecoms commission.
[25] Greece to host conference on east European public administration
Athens, 13/11/1997 (ANA)
Greece is to host a conference backed by the United Nations on
improving public administration in central and east European
countries.
The conference, initiated by the ministry of interior, public
administration and decentralization, is to take place on
November 17-20 in Thessaloniki.
Ministry and UN officials told a news conference that more than
100 delegates from 22 countries in central and eastern Europe
and the Confederation of Independent States would attend the
event.
Also to be represented at the conference are Black Sea Economic
Co-operation, the World Bank and the European Union's executive
Commission.
Prime Minister Costas Simitis and UN Deputy Secretary General
Vladimir Petrovski will speak at a dinner to mark the start of
the conference on November 17.
[26] EU to extend social scheme to third country nationals
Athens, 13/11/1997 (ANA)
The European Commission has adopted a proposal for a council of
ministers' regulation aimed at extending to third country
nationals the application of social security schemes to employed
people and their families moving within the European Union.
The great majority of the 13 million third country nationals
legally residing and working in the EU have to date been
excluded from the co-ordination mechanisms.
Padraig Flynn, European Commissioner with responsibility for
Employment and Social Affairs, said: "The extension of
regulation to third country nationals is part of the
Commission's long-standing policy to improve the legal status of
third country nationals residing in the EU.
Third country nationals do not currently enjoy the right to free
movement under EU law, and the proposal does not imply the
granting of such a right.
However, this extension will considerably strengthen the social
protection of third country nationals when they obtain the right
to work and reside in another member state within the European
Union, in particular by enabling them to preserve rights to
which they are already entitled.
[27] EFG Eurobank appoints new chief for Balkan investments
Athens, 13/11/1997 (ANA)
The EFG Eurobank Group yesterday appointed Spyros Kapralos, a
former executive at National Bank of Greece and former chairman
of ETEBA bank, as the head of a new department set up to expand
Balkan investments.
Eurobank EFG and Global Finance, a subsidiary of the group, are
planning new venture capital funds to support business
activities in the Balkans and eastern Europe.
[28] Conference on currency upheavals/financing
Athens, 13/11/1997 (ANA)
The Economics Institute is organizing a conference on November
25 on how the present currency upheavals are affecting the
financing of Greek firms.
The conference, to be held at the Greek Management Society
(EEDE), will examine issues related to the development of
currency parities and interest rates in view of European
Economic and Monetary Union, the alternative forms of firm
financing, and the recent crisis in the international money
markets.
Banking executives will be the main speakers.
[29] EOT employees' union calls strike
Athens, 13/11/1997 (ANA)
The Association of Greek Tourist Organization (EOT) Employees
yesterday called three-hour work stoppages for today and
tomorrow (12-3 p.m.), as well as a 24-hour warning strike on
Nov. 18 with a parallel gathering outside EOT headquarters.
The employees' union is protesting what it calls "the systematic
neglect of EOT at an administrative and institutional level".
They also claimed omissions by EOT Secretary General Nikos
Skoulas and Development Minister Vasso Papandreou.
The union is also reacting to the promotion of an amendment
transferring funds and EOT employees to the provinces, as well
as to a bill transforming EOT into a sociiti anonyme.
[30] 270 mln. dr. lost in petrol smuggling scam
Athens, 13/11/1997 (ANA)
An investigation into petroleum smuggling released yesterday by
the Piraeus public prosecutor reveals that between 1993-1995,
over 270 million drachmas in customs duties was lost through
undeclared petroleum imports, in cases involving 43 customs
officials and 11 petroleum companies.
According to prosecutor Ioannis Lambropoulos, 3,308,000 liters
of petroleum were imported tax-free. Charges have been brought
against customs officials and the heads of the companies
involved.
[31] President to inaugurate Holocaust memorial in Thessaloniki
Athens, 13/11/1997 (ANA)
Jewish dignitaries and other personalities from all over the
world will gather in Thessaloniki later this month for the
unveiling of a monument dedicated to the nearly 50,000 Jews from
the northern Greek capital who lost their lives in the Nazi
Holocaust.
The monument, on the corner of Papanastassiou and Nea Egnatia
streets, two of Thessaloniki's main thoroughfares, will be
inaugurated by President of the Republic Kostis Stephanopoulos
on Sunday, November 23.
A US delegation will be lead by the chairman of the House of
Representatives Foreign Affairs committee Benjamin Gilman
(Rep-NY), while a high-ranking Israeli delegation will be headed
by Minister of Health Yehushua Matsa.
The guests of honor at the event will be the few survivors of
the Nazi camps from Greece still alive today, who number less
than 40.
Thessaloniki was historically the home of one of the biggest
Jewish communities before the Nazi occupation, which found haven
in the northern Greek capital after fleeing the Holy Inquisition
in 15th century Spain.
According to a 1940 census, there were about 49,000 Jews living
in Thessaloniki. The number dwindled to 1,950 in 1945, as 46,061
Thessaloniki Jews were sent off to the Nazi death camps at
Auschwitz, Bergen-Belsen and Birkenau over a six-month period in
1943. Fewer than four percent survived.
Some 67,151 Jews, or 86 percent of the Jewish community, living
in Greece before World War II perished in the Nazi camps.
There are an estimated 5,000 Jews currently living throughout
Greece, about 1,200 of them in Thessaloniki.
[32] Three diplomatic vehicles torched
Athens, 13/11/1997 (ANA)
Two diplomatic cars belonging to the Italian and Brazilian
embassies were set on fire shortly after midnight Tuesday by
unidentified assailants, according to reports.
A third vehicle, a bus, belonging to the French embassy and
parked on Sina Street in downtown Athens was the target of a new
arson attack yesterday.
The ensuing explosion set the bus ablaze and caused serious
damage. The fire also spread to a car parked nearby.
Both firebombings were caused by the ignition of gas canisters
placed under the vehicles.
No one has claimed responsibility for either of the attacks and
no injuries were reported in either attack.
End of English language section.
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