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Athens News Agency: Daily News Bulletin in English, 97-11-20

Athens News Agency: Daily News Bulletin in English Directory - Previous Article - Next Article

From: The Greek Press & Information Office, Ottawa Canada <grnewsca@sympatico.ca>

ATHENS NEWS AGENCY BULLETIN (No 1345), November 20, 1997

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


CONTENTS

  • [01] Massive armaments procurement program endorsed by KYSEA
  • [02] ... WEU
  • [03] ... Opposition
  • [04] Gov't to implement measures for improved anti-seismic policy
  • [05] Experts agree no major quakes expected
  • [06] ... Aftershocks recorded
  • [07] Gov't-SACEUR commander contacts focus on NATO issues, region
  • [08] Athens to unveil proposals at EU employment conference
  • [09] ... European Conference
  • [10] ... Romanian visit
  • [11] Miller: Turkey must make moves on Aegean, Cyprus if it values EU
  • [12] Turkey denies press reports of Holbrooke Cyprus plan
  • [13] ND holds meeting on opposition tactics
  • [14] Tsohatzopoulos: Universal conscription for women not a Gov't goal
  • [15] Pangalos laments EU policy over former Yugoslavia
  • [16] Reppas on elections, Synaspismos' Damanaki
  • [17] SAE to meet in Thessaloniki next month
  • [18] Audit handed to Kaklamanis
  • [19] Vartholomeos returns from US tour
  • [20] Philhellene Austrian professor honored at Vienna event
  • [21] Brittanic sinking still a mystery, divers say
  • [22] Initial UN support regional informatics center in Thessaloniki
  • [23] Memorial to Thessaloniki Jews to be unveiled Sunday
  • [24] Banks raise interest rates
  • [25] Greek stocks edge up in moderate trade
  • [26] Greece rejects pessimism by EIB official over monetary crisis
  • [27] Greece's ETVA bank hikes drachma loan rates by 1.5 pts
  • [28] Europarliament committee introduces debate on enlargement
  • [29] EU farm ministers agree to compromise text on CAP reforms
  • [30] GSEE criticizes Pechiney management tactics
  • [31] Treasures of Aidonia to travel to Australia
  • [32] Two arrested for Athos attacks
  • [33] Kidnappers sentenced

  • [01] Massive armaments procurement program endorsed by KYSEA

    Athens, 20/11/1997 (ANA)

    The Government Council for Foreign Policy and Defense (KYSEA) yesterday endorsed proposals by National Defense Minister Akis Tsohatzopoulos setting out a five-point plan on priorities of the armaments procurement program.

    Recommendations included strengthening the existing air force fleet with third-generation aircraft, for which a final decision would be made in the first half of 1998. According to informed sources, the government is considering choosing between the Mirage 2000-5, Russian Sukhoi, EF-2000 and F-16 (Block 50), F-15E, F-18 and F-22.

    The same sources say that there has also been discussion of purchasing another 10 to 20 Mirage 2000s and F-16s (Block 50). In addition, the purchase of airborne refueling aircraft and AWACS early warning aircraft was also going ahead.

    It was also reported that anti-aircraft weapons Shorad would be purchased. The purchase of long-range anti-aircraft systems is also included in the program. The US-made Patriot system and the Russian-made S-300 system are up for consideration.

    The third point of the plan regarded a final decision, to be taken next year, regarding new tanks for the army.

    Exactly 170 Leopard 1 A5 are to be bought from Germany, a purchase which Mr. Tsohatzopoulos says was decided upon earlier and is not part of the current program.

    The Leopard 1 A5s are ready for delivery and are reportedly destined for the Evros region to replace others which will be used for the defense of the islands.

    With regard to procurements for the navy, it was announced that an S-type frigate is expected from The Netherlands on Dec. 13. The renovation of a third Glafkos-class submarine was completed at the Salamina naval base a few days ago, while work on another is to begin in March. In addition, an order for four gunboats is pending at the Skaramanga shipyards.

    According to informed sources, decisions are to be taken in February with regard to the purchase of four submarines, either from Germany or Britain.

    Finally, the sector of troop transport is to be strengthened with the immediate purchase of hovercraft capable of carrying 400-450 men, as well as smaller craft capable of holding 70-80 soldiers.

    These craft are capable of speeds of 40-50 nautical miles per hour. Mr. Tsohatzopoulos is to brief the permanent parliamentary committee on the results of yesterday's decisions.

    The defense minister said the first phase of the armed forces' procurements program is to be completed during the first half of 1999.

    He said that 350 billion drachmas had already been spent on the program so far, while another 100 billion will be spent by the end of the year. Some 800 billion drachmas are projected for 1998, while funds totaling 1.1 trillion drachmas are to be made available as soon as the relevant studies, which are in their final phase, have been completed.

    [02] ... WEU

    Athens, 20/11/1997 (ANA)

    The Council also discussed issues related to the Western European Union (WEU), whose rotating presidency Greece assumes on January 1, 1998, and to NATO, according to government spokesman Demetris Reppas. He said Greece's priorities in the WEU would be to promote the organization as the defense wing of the European Union, as well as the idea of NATO making its forces available to the WEU in operations the latter decides to undertake.

    With regard to the NATO summit scheduled for December, Mr. Reppas said that in view of the fact that NATO's new structure will most likely be discussed there, Greece would be using the principle of unanimity at meetings of the political and military committee during the planning and execution of exercises when it considers its national interests are being harmed.

    He also said that visiting Supreme Allied Commander Europe (SACEUR) US Gen. Wesley Clark would not be discussing confidence-building measures in the Aegean with Greek officials, as this issue came under the jurisdiction of NATO Secretary General Javier Solana.

    Mr. Tsohatzopoulos and Foreign Minister Theodoros Pangalos also briefed KYSEA on the results of the recent WEU summit in Erfurt, Germany, as well as on developments in NATO in view of the impending summit.

    [03] ... Opposition

    Athens, 20/11/1997 (ANA)

    The main opposition New Democracy party in a statement accused the government of delaying the armed forces' armaments program, saying that almost for two years, and from time to time, announcements regarding this program are repeated, without any con tracts signed to date, apart from that of the modernization of the F-4 "Phantom" aircraft.

    The Communist Party of Greece (KKE) expressed its opposition to the proposed purchase of the Leopard tanks, considering the option is part of "the new aggressive and adventurist plans of the new world order" and does not serve the country's defense needs.

    "The PASOK government, in the context of its compliance with the new world order, uses whatever need there is for modernization of weapons systems and the country's defensive capability as an alibi, in order to meet NATO's aggressive plans in the area ," a KKE statement read.

    The Coalition of the Left said the aim of maintaining modern and effective armed forces was not served as long as the policies followed remained trapped in the logic and vicious circle of an arms race. It added that the government's insistence on following such policies was to the detriment of the country's development and social cohesion.

    [04] Gov't to implement measures for improved anti-seismic policy

    Athens, 20/11/1997 (ANA)

    The environment, town planning and public works ministry, through the Anti-Seismic Planning and Protection Organization (OASP), is proceeding with implementation of measures to upgrade anti-seismic policy, following an OASP meeting yesterday to examine the latest string of earthquakes in western Greece.

    Measures include coordinated seismological monitoring of Greece with the creation of a National Seismograph Network with the participation of all scientific bodies possessing suitable infrastructure. Funding for OASP worth 1.5 billion drachmas has been requested from the government to support this effort.

    Other measures include:

    - Mapping of regions presenting greater seismic danger and the preparation of national specifications for the elaboration of micro-zonal studies.

    - Control of the anti-seismic adequacy of buildings following the registration of town planning priorities by specialist seismologists. OASP has already been instructed to issue technical instructions to control anti-seismic adequacy and to inform public services and bodies to control buildings they own.

    - Control of the implementation of building regulations (new anti-seismic regulation, etc.) and their continuous monitoring by OASP's special scientific committees.

    - A nationwide training program for teachers and professors on issues of anti-seismic protection at schools with the co-operation of the education ministry, as well as seminars for the utilization of the entire scientific potential possessed by the country.

    [05] Experts agree no major quakes expected

    Athens, 20/11/1997 (ANA)

    Meanwhile, seismologists said yesterday that Tuesday's 6.6 on the Richter quake off the Ionian island of Zakynthos was the main quake and not the harbinger of a stronger one. The experts convened yesterday morning for two hours to discuss the spate of tremors and aftershocks that has rattled Greece for the past month.

    "We all agreed that yesterday's quake was most probably the main one," Prof. Ioannis Drakopoulos said.

    "There will probably be strong aftershocks but things are developing normally. We advise residents of the areas (affected by the quake) not to reside in damaged houses until they have been checked by civil engineers".

    Mr. Drakopoulos said it was fortunate that the epicenter of the quake had been located far from densely populated areas. Its epicenter was situated in the underwater sea region south of Zakynthos, some 290 km south-southwest of Athens. The quake was felt throughout the Peloponnese and western Greece.

    Mr. Drakopoulos, however, refused comment on statements by his colleague at the Patra University, Akis Tselentis, that he could not rule out a stronger quake in mainland Greece.

    Mr. Tselentis did not attend the meeting yesterday, saying he was unable to attend due to work commitments caused by the upsurge in seismic activity.

    [06] ... Aftershocks recorded

    Athens, 20/11/1997 (ANA)

    Aftershocks from Tuesday's earthquake are continuing as expected, according to Thessaloniki University's Geophysical Laboratory, whi-ch has recorded at around 150 aftershocks.

    The largest of those was recorded yesterday morning and measured 4.9 on the Richter scale. However, scientists at the laboratory have not ruled out a larger aftershock of 5.7 or 5.8.

    [07] Gov't-SACEUR commander contacts focus on NATO issues, region

    Athens, 20/11/1997 (ANA)

    National Defense Minister Akis Tsohatzopoulos received the Supreme Allied Commander Europe (SACEUR) yesterday morning, US General Wesley Clark, for talks on NATO issues and problems in the region. Mr. Tsohatzopoulos briefed Gen. Clark on the consequences in the region emanating from Ankara's aggressive behavior.

    The minister also made it clear that Greece was not willing to assist in upgrading Turkey's relations with the European Union unless Turkey first showed that it was willing to abide by the same principles of international law and international treaties as other EU member-states.

    Mr. Tsohatzopoulos added that confidence-building measures regarding the Aegean were not discussed. Gen. Clark, accompanied by Greek Chief of General Staff Gen. Athanasios Tzoganis, later met with President of the Republic Kostis Stephanopoulos. It is the US general's first visit to Greece since he assumed his post. Earlier, Foreign Minister Theodoros Pangalos sat at a working breakfast with Gen. Clark. Ensuing talks focused on the enlargement and new structure of NATO.

    [08] Athens to unveil proposals at EU employment conference

    Athens, 20/11/1997 (ANA)

    Greece will present proposals at a European Union employment conference this week that focus on jobless youth and the long-term unemployed.

    Alternate Foreign Minister George Papandreou announced the government's proposals yesterday ahead of a two-day meeting on employment in Luxembourg today and tomorrow.

    Prime Minister Costas Simitis will convey the proposals to his European partners.

    Greece backs better training for the unemployed, and state subsidized recruitment.

    Mr. Simitis will underline that the number of long-term unemployed is steadily increasing and ask for specific measures to create new jobs.

    He will meet Luxembourg's prime minister, Jean-Claude Juncker, who is also chairman of the EU's presidency.

    Mr. Simitis will start a mini-European tour after the conference. His first stop will be London to meet British Prime Minister Tony Blair, followed by a trip to Paris.

    [09] ... European Conference

    Athens, 20/11/1997 (ANA)

    The issue of the proposed European Conference for countries wanting to accede to the EU is also expected to be discussed informally in Luxembourg, as well as by the General Affairs Council on Monday.

    Mr. Papandreou reiterated Greece's position that negotiations for all 10 candidate states as well as Cyprus should begin simultaneously.

    With regard to Turkey, Mr. Papandreou stressed that any upgrading of its relations with the EU was dependent on its taking specific actions.

    "Moreover, since we are talking about upgrading the EU's relations with Turkey, there should be conditions," said Mr. Papandreou.

    He said in response to a question that relations with Turkey were "stationary".

    [10] ... Romanian visit

    Athens, 20/11/1997 (ANA)

    Mr. Papandreou will visit Romania on Saturday for talks on Romania's bid to join the 15-nation European Union.

    He told reporters the talks are part of a campaign by the Greek government to gather information on countries seeking membership of the EU, and assist their application.

    [11] Miller: Turkey must make moves on Aegean, Cyprus if it values EU

    Ankara, 20/11/1997 (ANA - A. Abatzis)

    In a statement published in the Turkish daily "Sabah" yesterday, US State Department special coordinator on the Cyprus issue Thomas Miller said that "if Turkey really attributes importance to the EU it must do something in the sectors of human rights, the Aegean and Cyprus."

    Mr. Miller said the US is making every possible effort so that a good position is given to Turkey in the process of EU enlargement.

    "If Turkey desires to support the US in this effort it must be in a position to do certain things in the Aegean and in Cyprus," he said.

    [12] Turkey denies press reports of Holbrooke Cyprus plan

    Ankara, 20/11/1997 (DPA/ANA)

    The Turkish foreign ministry denied press reports on Wednesday regarding United States special envoy to Cyprus Richard Holbrooke's plan on Cyprus to bring a solution to the island.

    "Mr. Holbrooke, himself has denied this plan. Hence, we have no further comments," foreign ministry spokesman Necati Utkan said in Ankara.

    The daily Yeniyuzyil reported Wednesday that Mr. Holbrooke drew up a comprehensive plan which will break up Cyprus into three zones as the first step to a solution.

    The first phase of the plan, which will last five years, will entail three different zones on the island - a Greek Cypriot zone, a Turkish Cypriot zone and a neutral zone, the paper said.

    Following the elections in the Greek part of the island in February 1998, Mr. Holbrooke will propose the establishment of a "loose" federation, which will be based on the equality of sovereignty on both sides.

    Similar press reports in Greek daily Kathimerini last week were denied by both the government and Mr. Holbrooke, in an interview with Greek Sunday paper To Vima.

    [13] ND holds meeting on opposition tactics

    Athens, 20/11/1997 (ANA)

    The main opposition New Democracy party is considering to gradually intensify its criticism towards the government over the new state budget, and at the same time present examples for reducing taxes as well as public spending.

    The essence of the criticism was the subject of discussion at yesterday's meeting at the party's headquarters, chaired by ND leader Costas Karamanlis.

    ND spokesman Aris Spiliotopoulos said participants held similar views over the tactic to be followed by the party.

    He further charged that the government's economic policy had failed, the budget pushed away the prospects of participation in the Economic Monetary Union (EMU) and that the attempt to collect revenue through augmented taxation to cover deficits was a burden to the lower classes.

    According to a decision taken at yesterday's meeting, Mr. Karamalnis will give a press conference on the budget next Monday, while the party's Parliamentary group will convene, probably on Dec. 5.

    [14] Tsohatzopoulos: Universal conscription for women not a Gov't goal

    Athens, 20/11/1997 (ANA)

    National Defense Minister Akis Tsohatzopoulos yesterday told representatives of women's' organizations that a draft law providing for women's' inclusion in civil defense units along border areas was in no way a first step towards a general conscription and militarization of public life.

    The minister also said that he wishes to see the buttressing of the country's defense on the basis of collective responsibility and the readiness of citizens not only in time of war, but also for the danger of natural disasters.

    The representatives stressed their groups' permanent position on the principles and values of life, and called for the stipulation of a voluntary nature for their participation in the scheme.

    [15] Pangalos laments EU policy over former Yugoslavia

    Athens, 20/11/1997 (ANA)

    Foreign Minister Theodoros Pangalos sharply criticized the policy of previous governments regarding former Yugoslavia yesterday, speaking during the presentation of a book by the foreign ministry Secretary-General Stelios Perrakis

    Apart from Mr. Pangalos, the book, entitled "The policy of the European Community/Union on former Yugoslavia (1991-1996)", was presented by Coalition of the Left and Progress leader Nikos Constantopoulos, former foreign minister Mihalis Papaconstantinou and Panteios University professor and permanent representative at the Council of Europe Demetris Konstas.

    Mr. Pangalos particularly criticized the fact that the previous governments not only failed to do what was necessary on the Yugoslav problem, but in addition, they systematically presented a different picture from the real one inside the country, adding that the same observation also concerns the policy applied on the Skopje issue.

    Mr. Pangalos said that in this case a hysterical situation was systematically created in the country while, on the contrary, the government's position abroad was characterized by prudence, silence, submission and indifference.

    Referring to steps which must be taken "from now on", Mr. Pangalos said it is an urgent need to have Serbia join the international community again. He further said that Croatia must make an effort to improve its domestic political status, which he termed "despotic."

    On the question of relations with the Former Yugoslav Republic of Macedonia (FYROM), Mr. Pangalos said these relations have improved perceptibly, adding that what is necessary are bold steps on both sides to settle the pending condition contained in the interim agreement on a mutually acceptable solution to the issue of the name.

    Regarding the European Union's policy in the former Yugoslavia, Mr. Pangalos said this crisis taught Europe a lesson in that we must not pursue involvement in the domestic developments of countries outside the EU without having a clear picture of all parameters and without knowing for sure where events are leading.

    Mr. Pangalos said that European policy in the field of the former Yugoslavia is experienced by the EU as a story of failure, adding that this painful account resulted in Europe becoming much more conservative in its actions, even on issues in which it could exercise a positive role, such as the Middle East question for example.

    Mr. Constantopoulos wondered whether the dissolution of former Yugoslavia occurred by chance, stressing that this issue developed with a complicated diplomacy of strategic interests and where the annulment of the role played by international legal order and international organizations occurred.

    [16] Reppas on elections, Synaspismos' Damanaki

    Athens, 20/11/1997 (ANA)

    A large city needs a progressive policy to deal with problems and Maria Damanaki can implement such a policy, government spokesman Demetris Reppas said yesterday, replying to relevant questions.

    He added that a large city like Athens needed daring decisions and important changes, as well as measures to upgrade everyday life.

    Replying to another question on next year's local elections Mr. Reppas said PASOK had not yet announced its final decision with regard to Athens, and that during his Tuesday interview, the Prime Minister Costas Simitis simply outlined PASOK's positive approach to the specific issue.

    Ms Damanakis is a Coalition of the Left and Progress (Synaspismos) deputy, as well as that party's one-time leader.

    [17] SAE to meet in Thessaloniki next month

    Athens, 20/11/1997 (ANA)

    The World Council of Hellenes Abroad will hold a three-day conference in Thessaloniki starting on Dec. 3.

    The session, to be attended by Alternate Foreign Minister George Papandreou will discuss issues of concern to expatriate Greeks.

    [18] Audit handed to Kaklamanis

    Athens, 20/11/1997 (ANA)

    Parliament President Apostolos Kaklamanis yesterday met with State Audit Council President Botsos, who handed him the annual report on the preventative audit in the expenses of the State and public organizations for 1995.

    [19] Vartholomeos returns from US tour

    Istanbul, 20/11/1997 (ANA- A. Kourkoulas)

    Ecumenical Patriarch Vartholomeos has returned to his base here after a month-long tour of Eastern Orthodox communities in the United States.

    While in the United States, the Patriarch met, among others, with US President Bill Clinton and Vice-President Al Gore, while he received the Golden Medal of Congress, a rarely bestowed distinction. He also attended an official reception hosted by US First Lady Hillary Clinton at the White House, and dinner by Turkish ambassador Nuzet Kademir.

    The Patriarch was also received honorary Ph.Ds from Boston's Theological School of the Sacred Cross, the Russian Theological School of St. Vladimir and the University of Georgetown.

    In another event, the Patriarch addressed the Council for World Issues in Chicago.

    [20] Philhellene Austrian professor honored at Vienna event

    Vienna, 20/11/1997 (ANA - D. Dimitrakoudis)

    "Europe cannot be built without Greece, Greece is Europe's foundation", noted Austrian professor Hans Swable told a crowd attending an event in his honor at the University of Vienna on Monday night.

    The event was organized on the occasion of the recent awarding of the Aristotle Prize to Prof. Swable by the Macedonia-Thrace ministry.

    The Austrian academic praised the multiformity of the ancient, Byzantine and modern Greek civilization, underlining that European culture needed the Greek language.

    Macedonia-Thrace Minister Philippos Petsalnikos attended the event.

    [21] Brittanic sinking still a mystery, divers say

    Athens, 20/11/1997 (ANA)

    A mission to examine the wreck of the Titanic's sister-ship, the Britannic which sank after a still-unexplained explosion near the island of Kea on November 21, 1916, ended nearly a week ago after a group of divers filmed the wreck lying at a depth of 120 metres.

    Suspicions that the ship had hit a mine or had been hit by a torpedo appear to be disproved by the findings of "Project Britannica", which included the participation of 30 people from eight different countries.

    Two years was spent planning the project; it was the third attempt to approach the wreck and seek out the truth.

    "It is impossible that a torpedo or mine created such a large amount of damage to a ship that had been characterized as unsinkable. According to the photographs, there is a large gash in the bow, which extends outwards and upwards," said Vangelis Sotiriou, head of the mission.

    The Britannic was one-tenth larger than the Titanic and had been requisitioned by the British Royal Navy and was on its way to the island of Lesvos to pick up injured British soldiers when it sank.

    Various rumors have since then circulated that the ship's true mission was to transport gold for France or weapons and ammunition heading for Balkan battlefields.

    Twenty-nine people died when the turbulence caused by the ship's propellers sank one of the lifeboats. Divers Kyriakos Kavalaris, Alexandros Sotiriou and Kevin Gurr managed to enter the wreck and, with the permission of the foreign ministry and archaeology service, brought up evidence which is currently being studied.

    The wreck, lying 120 meters underwater, was discovered in the mid-1970s by Jacques Cousteau, while another mission two years ago used remote controlled underwater cameras to film the ship.

    Greek members of the team were reported to be planning another attempt to approach the wreck to gather more evidence about what actually happened to the Brittanic.

    [22] Initial UN support regional informatics center in Thessaloniki

    Athens, 20/11/1997 (ANA)

    UN Deputy Secretary General Vladimir Petrovski expressed support for the Greek proposal for the UN regional informatics center being established in Thessaloniki.

    Speaking at a press conference on the sidelines of the conference on public administration, coming to a close today, Mr. Petrovski said the proposal made by Prime Minister Costas Simitis at the conference was "very good", adding that for the time being relevant interest has not been shown by any other country and that what remains to be done is to find a way to join the center to the UN's mechanism.

    Referring to the conference, Mr. Petrovski expressed satisfaction and said reforms implemented by the Greek government are positive, underlining that they can constitute a very good example for countries in central and eastern Europe which are in the process of transition.

    In another development, Mr. Petrovski held talks with Thessaloniki Mayor Costas Kosmopoulos and called for the Thessaloniki conference on public administration to take on the nature of an institution.

    [23] Memorial to Thessaloniki Jews to be unveiled Sunday

    Athens, 20/11/1997 (ANA)

    Government officials from Greece, Israel, the US and representatives of Jewish communities from around the world will be in attendance when President of the Republic Kostis Stephanopoulos unveils a memorial this weekend to some 50,000 Jews of Thessaloniki killed by Nazi occupation forces during World War II.

    Foreign Minister Theodoros Pangalos, Alternate Foreign Minister George Papandreou and ministers for culture Evangelos Venizelos and Macedonia and Thrace, Philipos Petsalnikos, will represent the government at the ceremony.

    They will be joined by a delegation led by Israeli Health Minister Yehushua Matsa and German Foreign Under-secretary Werner Hauer. A US delegation will be led by the chairman of the House of Representatives Foreign Affairs committee Benjamin Gilman (R- NY).

    The ceremony will also be attended by the some 30 survivors of the Auschwitz and Birkenau camps where more than 48,000 Greek Jews met their death in 1943-1944. They will be joined by members of the Jewish communities of Australia, Latin America, the for mer Soviet Union and the US.

    The memorial is situated on the corner of Papanastassiou and Nea Egnatia streets, two of Thessaloniki's main thoroughfares. It has been designed by Serbian artist Nidor Glint.

    Thessaloniki was the home of one of the largest Sephardic Jewish communities before the occupation.

    According to a 1940 census, there were about 49,000 Greek 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.

    [24] Banks raise interest rates

    Athens, 20/11/1997 (ANA)

    The Agricultural Bank of Greece will increase deposit and lending rates as of today.

    Ordinary savings accounts will yield a 9.50-10 per cent interest depending on the amount, while the basic rate for working capital rises by up to 4 per cent to reach 17.50 per cent.

    The Bank of Central Greece will increase its deposits interest rates by 1 to 1.25 per cent and its loan interest rates by 1.5 per cent as of today.

    Specifically, savings interest rates for small deposits of up to one million drachmas will be set at 10 per cent and for bigger deposits up to 12 per cent and current account deposits at 10.5 per cent.

    The main interest rate for short-term loans was set at 18 per cent, the main interest rate for medium-term and long-term loans 16 per cent, the main interest rate for housing loans 15.5 per cent and the interest rate for consumer loans 24 per cent.

    [25] Greek stocks edge up in moderate trade

    Athens, 20/11/1997 (ANA)

    Greek equities remained on an upward course for the second consecutive session on the Athens Stock Exchange yesterday although they ended off their day's highs.

    Trading was moderate with turnover at 15.7 billion drachmas.

    The general index closed 0.23 percent higher at 1,395 points after showing gains of up to 1.20 percent earlier in the session.

    The FTSE/ASE index fell 0.01 percent to 809.03 points.

    Sector indices were mixed. Banks fell 0.17 percent, Insurance eased 0.46 percent, Leasing rose 0.50 percent, Investment increased 0.16 percent, Construction dropped 2.02 percent, Industrials rose 0.97 percent, Miscellaneous ended 0.17 percent up and Holding fell 0.24 percent.

    The parallel market index for small cap companies was 0.54 percent higher.

    Broadly, advancers led decliners by 114 to 101 with another 22 issues unchanged.

    Cambas, Heliofin, Lambropoulos, Ideal and Macedonian Plastics scored the highest percentage gains, while Ermis, Mouzakis, Elmec Sport and Intertyp suffered the heaviest losses.

    National Bank of Greece ended at 26,480 drachmas, Ergobank at 15,000, Alpha Credit Bank at 16,395, Delta Dairy at 3,355, Titan Cement at 11,440, Intracom at 11,880 and Hellenic Telecommunications Organization at 5,200.

    [26] Greece rejects pessimism by EIB official over monetary crisis

    Athens, 20/11/1997 (ANA)

    Government spokesman Demetris Reppas said yesterday the government was surprised and disappointed over comments on the country's economy by the European Investment Bank's vice-chairman, Panayiotis Yennimatas.

    Mr. Yennimatas said in Thessaloniki on Tuesday that the economy had yet to recover from a monetary crisis that hit the drachma and stocks.

    He expressed fears that rising interest rates would burden the public debt and undermine the government's plan to align with other European Union countries.

    Mr. Reppas said Mr. Yennimatas' views did not correspond with reality.

    [27] Greece's ETVA bank hikes drachma loan rates by 1.5 pts

    Athens, 20/11/1997 (ANA)

    Hellenic Industrial Development Bank (ETVA), which is listed on the Greek bourse, said yesterday it would raise its drachma loan rates by 1.5 percentage points starting on Thursday, joining a fresh round of rate increases.

    The state-owned bank will raise its base rate to 17 percent.

    Interest on loans for fixed assets with an investment total of at least 100 million drachmas will rise to 14 percent.

    [28] Europarliament committee introduces debate on enlargement

    Athens, 20/11/1997 (ANA)

    The Europarliament's foreign affairs committee voted to adopt a triple approach to respond to the challenge of Agenda 2000 and enlargement yesterday.

    The committee has opted for an approach that balances the problem of treating applicant countries equitably while recognizing that some countries are more ready for membership than others.

    The report, which was adopted by 31 votes for, 10 against and 4 abstentions, recommends that "intensive negotiations should begin with the countries which have made the most progress."

    The countries are Hungary, Poland, Czech Republic, Estonia, Slovenia and Cyprus.

    The committee believes that the development of negotiations will depend upon the extent to which each applicant country meets accession requirements (political and economic).

    The foreign affairs committee regards it as particularly important that all European countries aspiring to membership and linked to the Union by association agreements should take part in the European conference.

    The committee calls on the EU to engage in a more active policy towards Cyprus and encourage efforts to seek a political solution.

    The committee believes that the Commission's view that 1.27 percent of GDP will be sufficient to fund enlargement depends on certain assumptions about GDP growth, reform of EU policies and the outcome of the enlargement process, all of which will have t o be monitored closely.

    Finally, in the light of the shortcomings of the Amsterdam Treaty, the committee calls on Parliament to send another clear message to the European Council: any enlargement must be preceded by an intergovernmental conference to deal with the institutional problems still unresolved following the conclusion of the Treaty.

    The EU's credibility and the success of enlargement depend on this.

    The report will be debated on December 3 and 4 in Brussels.

    [29] EU farm ministers agree to compromise text on CAP reforms

    Brussels, 20/11/1997 (ANA - P. Pantelis)

    Following a number of intense disagreements, the EU's Agriculture Ministers Council, which met here yesterday, agreed on a compromise text proposed by the Luxembourg presidency relating to reforms in the Common Agricultural Policy (CAP) and contained in the "Agenda 2000" on the Union's expansion.

    The text will be submitted for approval at December's EU summit. Out of the 15 EU member-countries, only Spain cast a negative vote on the compromise text because it did not contain its own demands relating to spending on farming.

    Agriculture Minister Stephanos Tzoumakas had to intervene in some cases and eventually managed to improve the text and cover Greek demands.

    Mr. Tzoumakas said an explicit reference to Mediterranean farming products was finally included in the text.

    The Greek minister also brought up Athens' demand for Community economic assistance to this year's production of 5,500 tons of tobacco in the Serres area.

    The Council had advised that Greece discusses the issue with the European Commission, which eventually accepted to look into the tobacco subsidy, estimated at 7.5 billion drachmas.

    [30] GSEE criticizes Pechiney management tactics

    Athens, 20/11/1997 (ANA)

    The attitude of aluminum producer Pechiney's management towards workers is a provocation not only to them but also to the whole of the trade union movement, General Confederation of Greek Workers (GSEE) Christos Polyzogopoulos charged during a press conference yesterday.

    He also claimed that the company wants to establish flexible work hours by increasing part-time employment, wants to reduce jobs and to hire younger employees with lower wages to replace older ones. He also said the company wants to transform the Aspra Spitia housing complex from workers' residences into a tourism enterprise.

    Referring to the company's tactics of filing suits against the workers' union at the plant as war against the GSEE itself, and said the organization would fight against any shrinking of the plant and an overthrow of the regime of industrial relations in such an important company.

    Pechiney's plant in Greece is particularly profitable, recording profits of $41.2, $18.6, and $19 million in 1995, 1996, and in the first half of 1997 respectively.

    Workers charge the French multinational company with financing its loss-making units in France with the profits of the Greek plant. The problems of the French plants began when the company was privatized during the tenure of the Chirac government, and with the subsequent sale of 40 per cent of its shares to US interests, which aim to reduce costs by 20 per cent on a world basis.

    In order to prevent a reduction of jobs from 1,500 to 1,200, the workforce has resorted to repeated strike actions since June, while the company has responded by filing lawsuits, succeeding in having the strikes declared illegal and abusive.

    [31] Treasures of Aidonia to travel to Australia

    Melbourne, 20/11/1997 (ANA - S. Hatzimanolis)

    Victorian State Premier Jeff Kennet has expressed his great satisfaction over the Greek government's decision to open Melbourne's Greek Archaeological Museum with the exhibition "The Treasures of Aidonia".

    Mr. Kennet told State Parliament that Greek Culture Ministry Secretary General Evgenios Yiannakopoulos had announced that the treasures would be sent to Melbourne.

    "I hope the exhibition will be opened in October 1998 by the Greek culture minister," said the premier.

    He also said he hoped the Olympic Antiquities exhibition, to be held by Greece at the Sydney Olympic Games in 2000, will also go on show at the Melbourne museum.

    The collection of 308 artifacts from the Mycenaen period in the second millennium B.C., including 13 gold rings, cameos and other items of semi-precious stones and was returned to Greece in 1996 after a three-year campaign. The treasure was stolen from the Aidonia region near Corinth by antiquity smugglers in the 1970s.

    Since its return, it has been on exhibit at the National Archaeological Museum. This will be the first time it has traveled overseas since its return.

    [32] Two arrested for Athos attacks

    Athens, 20/11/1997 (ANA)

    Two young Albanians were arrested yesterday and confessed to attacking and attempting to rob two monks on the autonomous monastic community of Mount Athos.

    Brother Ioakeim was stabbed three times after being attacked by two assailants in his cell at the Karyes Monastery late on Monday night while Brother Alexandros received wounds to the hand after he was attacked in his cell by a man wielding an ax on Tuesday morning.

    Brother Ioakeim was being treated in hospital in Polygyros, while Brother Alexandros was given first aid at the Karyes infirmary.

    Akim Piska, 22, and Petrit Neta, 23, were arrested near the monastery of Helandariou following a chase by police. Piska was slightly wounded in the leg by a police bullet.

    Police said the two had been working as farm laborers on the Mount and had confessed to attempting to rob the two monks.

    [33] Kidnappers sentenced

    Athens, 20/11/1997 (ANA)

    Four of the six people on trial for the kidnapping of six-year-old Eleni Loulaki in Crete earlier this year were sentenced by an Iraklion court late Tuesday night. Kalliope Kyriakaki and Dimitra Kamba were sentenced to 11 and 18 years imprisonment respectively, while Vardis Sartzegakis and Constantine Kambas received sentences of seven years and seven and a half years respectively. Two other accused were found not guilty. The four sentenced were also fined 30 million drachmas to be paid as compensation to the Loulaki family.

    End of English language section.


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