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