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Athens News Agency: Daily News Bulletin in English, 97-12-23

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 1374), December 23, 1997

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


CONTENTS

  • [01] Iran, Armenia and Greece sign memorandum of understanding
  • [02] ... Kaklamanis
  • [03] Turkey charges espionage by consulate employee, Greece rejects claim
  • [04] ... New Turkish ambassador presents credentials
  • [05] President receives seven new envoys
  • [06] Premier to meet new US ambassador today
  • [07] Railway traffic in on Athens-Thessaloniki line restored
  • [08] Three PASOK deputies dismissed from Parliamentary group
  • [09] ... Reactions
  • [10] ... Peponis
  • [11] Budget vote a vote of confidence for Gov't
  • [12] Albanian minister: 600,000 weapons taken from bases during uprising
  • [13] ND committee focusing on Gov't contracts convenes
  • [14] Recovery efforts at Ukrainian jet's crash site continue
  • [15] ... Gov't on airport maps
  • [16] ... Zepessen map
  • [17] Well-known journalists Trogadis, Voulgaris pass away
  • [18] Greek stocks hit by rising domestic interbank rates
  • [19] Cosmote launches mobile network in January
  • [20] State securities dematerialization begins
  • [21] ELBO to supply armed forces with 2,000 jeeps
  • [22] Pro football clubs post total losses of 23.5 billion
  • [23] Citibank interest rates
  • [24] EOT on decree on travel agencies
  • [25] High court ruling on hotel reservations
  • [26] Three individuals summoned over Delta Chrimatistiriaki fraud
  • [27] Papoutsis-Avramopoulos meeting over Athens' tourism prospects

  • [01] Iran, Armenia and Greece sign memorandum of understanding

    Athens, 23/12/1997 (ANA)

    Iran, Armenia and Greece yesterday signed a memorandum of understanding providing for co-operation in four general sectors, following a tripartite meeting of the respective foreign ministers in Athens.

    The first sector is transport, postal services and telecommunications; the second tourism; the third industry, technology as well as the economy and the fourth is the energy sector.

    Foreign Minister Theodoros Pangalos and his Iranian and Armenian counterparts, Kamal Kharrazi and Alexander Arzoumanian, respectively, decided also to arrange meetings of experts in these sectors in the first quarter of 1998.

    After these initial meetings, implementation of the memorandum will be pursued at the level of foreign minister secretaries-general or undersecretaries.

    The tripartite co-operation began in 1995 and the last meeting at ministerial level took place in Tehran in 1996.

    Speaking at a press conference after the talks, Mr. Pangalos said it was the intention of the three countries to further develop their co-operation in other sectors also and, for this purpose, the foreign ministers would meet again some time next year.

    He underlined that the co-operation was not a "closed shop" and was not directed against any other country.

    During the talks, other issues of interest to the three countries were discussed, including the problem of Nagorno-Karabakh and the situation in Afghanistan.

    At a luncheon which followed the signing of the memorandum, Mr. Pangalos briefed his counterparts on Greece's position vis-a-vis Turkey's role concerning Athens. Earlier, Mr. Pangalos had separate meetings with both of his counterparts, who later in the day were received by President Kostis Stephanopoulos and Prime Minister Costas Simitis.

    Mr. Arzoumanian described the bilateral relations between the three countries as "excellent" and that the memorandum signed would facilitate the expansion of their economic co-operation in the region.

    Mr. Pangalos said the international community should be grateful to Iran because the country was providing sanctuary for one million refugees from Afghanistan without any international assistance.

    He said that most Western governments created an enormous fuss over 5,000-10,000 Albanian or Kurdish refugees arriving in their countries at the same time that Iran was taking care of a huge number of people without anybody even mentioning it.

    Mr. Pangalos also criticized the European Union, saying it had not concerned itself as it should with the problem of Afghanistan, which it continued to treat as a secondary issue.

    He said if Iran and Russia undertook an initiative on the Afghan problem, Greece would support it since it believed that both countries had notable diplomatic experience which they displayed in their previous initiative on Tadjikistan.

    [02] ... Kaklamanis

    Athens, 23/12/1997 (ANA)

    Parliament President Apostolos Kaklamanis also had separate meetings with the foreign ministers of Iran and Armenia.

    Iran's Kharrazi expressed Tehran's thanks to Greece for its "positive stance" over the recent crisis in relations between Iran and the European Union.

    Mr. Kharrazi said relations between Athens and Tehran were "exceptional and exemplary" and requested Athens' help in further strengthening ties with the EU, adding that there had been a change in stance by other countries towards Iran recently.

    Mr. Kaklamanis referred to the traditional ties of friendship between the Greek and Iranian peoples and stressed Greece's interest in Iran's efforts for growth and progress in all sectors.

    He said procedures to ratify bilateral agreements were under way. Both men discussed prospects of further developing parliamentary co-operation between the two countries through visits by committees and parliamentary friendship groups.

    Mr. Kharrazi extended an invitation from the Iranian parliament president to Kaklamanis to visit Tehran.

    Armenia's Arzoumanian requested Greece's help in Yerevan's European orientation and in international parliamentary organizations, during his meeting with the Greek official.

    Mr. Kaklamanis said the productive co-operation between Greece and Armenia reflected the close ties which linked them, noting that the strong Armenian community in Greece was another link.

    Mr. Arzoumanian briefed Mr. Kaklamanis on the situation in Nagorno-Karabakh, stressing that Armenia was ready to conduct negotiations to resolve the conflict if there were international guarantees.

    Mr. Arzoumanian, too, extended an invitation to Kaklamanis to visit Yerevan.

    [03] Turkey charges espionage by consulate employee, Greece rejects claim

    Ankara, 23/12/1997 (ANA - A. Ambatzis)

    A Turkish foreign ministry spokesman yesterday said that an administrative employee at Greece's consulate in Istanbul was asked to leave Turkey in a week, charging that he "is accused of actions not becoming his post, such as collection of information."

    Spokesman Sermet Atacanli was responding to a question about the alleged involvement of the Greece's military attachi in Ankara.

    He said that he has "no information about the involvement of anyone from the Greek embassy. Other agencies could have information, but the foreign ministry does not know."

    He also added that at this point he cannot give out more details.

    On its part, Greece rejected the Turkish claims that an Istanbul-based Greek diplomat was engaged in espionage, saying the claims were "false".

    "The Turkish claims are untrue," government spokesman Demetris Reppas said. "The Turkish authorities have failed to substantiate them".

    Mr. Reppas said that Ankara's stance "indicated a disposition towards cooling relations between the two countries, something which Greece does not desire."

    If Ankara expels the diplomat, he added, the Greek foreign ministry will respond in a similar fashion.

    [04] ... New Turkish ambassador presents credentials

    Athens, 23/12/1997 (ANA)

    Turkey's new ambassador to Greece, Ali Tinaz Tuygan, yesterday presented his credentials to President Kostis Stephanopoulos, expressing a hope for an improvement in Greek-Turkish relations.

    Welcoming Ankara's new envoy, Mr. Stephanopoulos expressed "cer-tainty" that the arrival of the new ambassador would be "significant in the improvement of relations between the two countries."

    Mr. Tuygan replaces Umit Pamir, who has been appointed as diplomatic adviser to Turkish Premier Mesut Yilmaz.

    The 53-year-old new ambassador held several posts as Counsellor at the Turkish embassies in Washington and Baghdad and the permanent Turkish delegation to NATO in Brussels. He also served as chief of cabinet of the Turkish president of the republic.

    His latest ambassadorial posts were first in Ottawa (1989-92) and then Riyadh (1992-94). His latest post before being coming to Athens was that of ambassador, deputy under-secretary for political affairs at the Turkish foreign ministry.

    [05] President receives seven new envoys

    Athens, 23/12/1997 (ANA)

    Greece's President Kostis Stephanopoulos yesterday received the credentials of seven new ambassadors to Greece, at a ceremony held in the presence of Foreign Under-secretary Yiannos Kranidiotis and the Secretary-General of the Presidency of the Republic Emmanuel Gikas.

    The new ambassadors to Greece are: United States, Nicholas Burns; Turkey, Ali Tuygan; Algeria, Kamel Houhou; Jordan, Ahmad Sataa'n Al-Hassan; Saudi Arabia, Ali Bin Majid Kabani; Ukraine Yuriy Sergeov; and Bangladesh, Mohammad Ruhul Amin.

    While greeting the new US ambassador to Greece, Mr. Stephanopoulos said: "I do not need to refer to Greek-US relations which are always exceptional".

    The president expressed the conviction that Mr. Burns's appointment as ambassador would serve to further strengthen the ties between the two countries.

    [06] Premier to meet new US ambassador today

    Athens, 23/12/1997 (ANA)

    Prime Minister Costas Simitis will meet with Washington's new ambassador to Athens Nicholas Burns today, government spokesman Demetris Reppas said yesterday.

    The spokesman said Mr. Burns would brief the Greek prime minister on recent talks between US President Bill Clinton and Turkish Prime Minister Mesut Yilmaz in Washington.

    [07] Railway traffic in on Athens-Thessaloniki line restored

    Athens, 23/12/1997 (ANA)

    Greek Railways Organization (OSE) personnel successfully dislodged the last rail car from the Athens-Thessaloniki rail line near Lamia yesterday, after coaches and a locomotive collided on Saturday with several boulders that had previously fallen on the tracks.

    The intercity train was partially derailed on Saturday morning while traveling from Athens to Thessaloniki.

    [08] Three PASOK deputies dismissed from Parliamentary group

    Athens, 23/12/1997 (ANA)

    Prime Minister Costas Simitis yesterday dismissed three deputies from ruling PASOK's parliamentary group after they failed to fully support the 1998 budget during the vote in Parliament on Sunday night by qualifying their vote for the budgets of particular ministries.

    Moschos Gikonoglou, Vassilis Kedikoglou and Christos Kipouros "selectively supported PASOK policy" during the budget debate, a statement from the prime minister read.

    "This stance does not correspond with the requirement of membership in the PASOK parliamentary group. From now on, they will not participate in the PASOK parliamentary group".

    Government spokesman Demetris Reppas later said there was no issue of the three being expelled from the party.

    "Costas Simitis, as president of the PASOK parliamentary group, judged that their stance in a critical vote was not compatible with their membership in the Parliamentary group," Mr. Reppas said, adding "each person chooses their own path and takes responsibility for that choice."

    The budget vote, he added, was tantamount to a confidence vote for the government, and any person not bound by collective decisions was responsible for their choices and consequences.

    Mr. Reppas said that the move was not a disciplinary measure, "when there is systematic distancing and undermining of decisions taken by collective bodies".

    The spokesman said yesterday's move was not the same as former prime minister Andreas Papandreou's decision to remove Mr. Kedikoglou and two other PASOK MPs from the Parliamentary group in 1992, saying that the 1992 case involved public statements, while yesterday's case involved the budget vote in Parliament.

    He reiterated that the expression of differing viewpoints should take place in party bodies adding that the parliamentary group was obli-ged to support the government's policies.

    He rejected claims that Mr. Simitis had hardened his stance or sent a message to party dissenters, saying he "sent a message to the people that the prime minister and the government will complete the task they have been entrusted with by the people".

    Mr. Simitis was completely within his rights as defined by the charter of the parliamentary group, PASOK Secretary Costas Skandalidis said later.

    At the last meeting of the parliamentary group, the prime minister had stressed the need for a united front and all the deputies were aware of the prime minister and PASOK bodies' stance, Mr. Skandalidis said.

    He, too, said there was no issue of expelling the three from the party.

    [09] ... Reactions

    Athens, 23/12/1997 (ANA)

    Vassilis Kedikoglou expressed surprise yesterday over Mr. Simitis' decision to dismiss him from the party's Parliamentary group.

    Mr. Kedikoglou reminded that Mr. Simitis himself, when the late Andreas Papandreou was in power, violated a collective party decision and voted against defense expenditures contained in a state budget.

    He also reminded that Mr. Simitis himself had criticized a similar decision by the PASOK founder, saying that dismissals are no solution.

    Commenting on his dismissal from PASOK's parliamentary group, Evros deputy Christos Kipouros made the following statement:

    "As I had announced in advance, in my address during the debate in parliament on the budget, I would not vote for funds concerning the Egnatia motorway. This was necessitated by my duty as a representative of a region of Thrace and on an issue which does not merely concern Thrace but, by extension, concerns the entire country and its orientations. There was never any collective decision in PASOK on the issue of the Egnatia motorway."

    "The government claims that the Egnatia motorway is being implemented and completed. However, reality is completely different... I could not remain silent," he said.

    "The government claims that the Egnatia project is being realized and completed. The reality, however, is completely different. I could not keep my silence on this major issue. It would be tantamount to my nullifying my role as a parliamentarian of the Greek Parliament and of PASOK."

    [10] ... Peponis

    Athens, 23/12/1997 (ANA)

    In a related development, former PASOK minister Anastasios Peponis reacted strongly to Mr. Simitis' decision to dismiss the three from the party's Parliamentary group.

    In a written statement, Mr. Peponis expressed regret over the premier's decision and over the meaning which, as he said, he inferred from.

    Mr. Peponis said the prime minister doubts their right to express individual reservations.

    He said that the decision is reminiscent of the mentality of a victor against the vanquished, while even the intention of controlling PASOK and turning it into a party subjected to a specific group appears.

    "It will prove to be a fatal mistake if the President of PASOK looks to support passing through threats and intimidation," he said.

    [11] Budget vote a vote of confidence for Gov't

    Athens, 23/12/1997 (ANA)

    Prime Minister Costas Simitis said early yesterday that the passing of the 1998 state budget by Parliament confirmed that the economy was continuously improving and that efforts had to be intensified "so that Greece can participate on an equal basis in the process of European integration".

    Parliament late on Sunday night passed the budget by 163 to 136 votes.

    "The passing of the budget confirms that the majority of Parliament approves of the policy we are following... the policy for a strong Greece," Mr. Simitis said.

    "In the years to come, we shall unswervingly continue this course because Greece must have an even stronger voice and play an important role. We need to have a strong economy and the aim of our economic policy is to secure precisely this," the premier added.

    [12] Albanian minister: 600,000 weapons taken from bases during uprising

    Tirana, 23/12/1997 (ANA - P. Haritos)

    Albanian Defense Minister Sabit Brokaj said that he is cautiously optimistic about the rate of restructu-ring of Albania's armed forces since he took up the post five months ago.

    The Albanian defense minister estimated that about 600,000 weapons were removed from military installations during the crisis in the neighboring nation earlier in the year, including heavy weaponry.

    Mr. Brokaj confirmed that a large number of weapons have been exported to Greece, adding however, that precise estimates are impossible.

    [13] ND committee focusing on Gov't contracts convenes

    Athens, 23/12/1997 (ANA)

    A special committee on transparency created by the main opposition New Democracy party a few days ago convened for the first time yesterday, examining the issue of major state contracts.

    The committee stressed the need to safeguard transparency and the good management of funds provided through the state contracts. It was ascertained that it is not ensured that enterprises undertaking such contracts will have both their headquarters and production in Greece.

    ND maintains that there are no safeguards to insist on the use of modern technology or to acquire the best possible price.

    The meeting was chaired by ND leader Costas Karamanlis and was attended by committee president Ioannis Kefaloyiannis and George Souflias, among others.

    [14] Recovery efforts at Ukrainian jet's crash site continue

    Athens, 23/12/1997 (ANA)

    The bodies of 55 of the 71 passengers and crewmembers of the Ukrainian Yakovlev-42 plane that crashed in the Pieria mountains last Wednesday were taken to a Thessaloniki hospital yesterday.

    Hospital sources said 40 bodies were identified, while another seven victims, including three crewmembers were identified by Ukrainian coroners.

    Special tests, such as dental X-rays and DNA tests, will be carried out for those of the victims that have not been identified so far.

    Meanwhile, Greek and Ukrainian experts visited the site of the crash, examining the plane's wreckage to determine the exact causes of the accident.

    Prime Minister Costas Simitis told Parliament on Sunday evening that the accident and the crash of a C -130 military transport plane taking part in the operation to locate the downed airliner would be discussed at an upcoming session in Parliament.

    On his part, President of the Republic Kostis Stephanopoulos reiterated his condolences and regret over the tragic loss of life.

    Mr. Stephanopoulos was speaking during the presentation of the credentials of the new Ukrainian ambassador to Athens, Yuriy Sergeov. The president said the accident "has profoundly affected us all", particularly as it came a few days after the president's official visit to the Ukraine.

    Ukraine President Leonid Kuchma responded to the Greek president's message of condolences, sent earlier. "It was with great grief that I was informed of the terrible and tragic crash of the Ukrainian aircraft which resulted in the loss of Greek lives.

    On behalf of the Ukrainian people and myself, I am extending my deepest and sincere condolences to the relatives of the victims of this great accident."

    Mr. Kuchma also sent Mr. Stephanopoulos a letter of condolences over Saturday's crash of a C-130 transport plane, which claimed the lives of five crewmembers.

    The three "black boxes" (flight data recorders) of the ill-fated Yakovlev-42 are currently being examined by the committee of experts set up by the Civil Aviation Authority (CAA) to ascertain the cause of the crash.

    Informed sources said that despite external damage to the flight data recorders, components inside do not appear to have been damaged.

    [15] ... Gov't on airport maps

    Athens, 23/12/1997 (ANA)

    In a related development, government spokesman Demetris Reppas said that the latest official publication of relevant international organizations did not state that Thessaloniki airport was equipped with a radar system to facilitate the approach of aircraft.

    However, he did not rule out the possibility of publications by "private" organizations stating the contrary.

    Although such a landing approach radar (Instrument Landing System or ILS) had been purchased for Thessaloniki international airport, it had not been installed.

    There has been speculation in the Greek press that if the ILS had been operational, it might have helped avert the crash of the Yakovlev-42.

    On Thursday, Reppas said it was wrong to link the crash with the fact that the airport did not have an ILS until the relevant investigation had been completed.

    "Until the investigation has been completed," he reiterated yesterday, "the government advises caution, because to draw premature conclusions is very risky."

    The main opposition New Democracy (ND) party, meanwhile, decided to request the formation of a fact-finding committee to ascertain whether any particular persons or agencies were in any way responsible for the crash of the Ukrainian aircraft.

    The decision was taken at a meeting of the shadow cabinet chaired by ND leader Costas Karamanlis which also expressed the view that the governor and deputy governor of the Civil Aviation Authority should be dismissed.

    ND spokesman Aris Spiliotopoulos charged that the state machinery had "disintegrated" during the search for the Yakolev and attributed responsibility to Transport and Communications Minister Tassos Mantelis, saying "no one had the courage to install the (ILS) radar, which remained in storage for 21 months".

    Although ND deputies had on Nov. 17 tabled a question in Parliament on the issue of the airport radar, Mr. Spiliotopoulos continued, "the government remained totally indifferent".

    [16] ... Zepessen map

    Athens, 23/12/1997 (ANA)

    The German company Zepessen had never been given details by Greek authorities relating to a state-of-the-art radar system at Thessaloniki's Macedonia Airport, the deputy director of the Civil Aviation Authority (YPA) Mr. Georgarakis said yesterday.

    The YPA official was replying to certain reports stressing that the pilot of the crashed Ukrainian passenger jet was using a navigational map which showed that Macedonia Airport was equipped with such a radar, and had probably been expecting to be directed by it in landing.

    YPA contacted Zepessen, which said that the information it had about the existence and operation of a radar in Macedonia Airport had been taken from military sources, not civil.

    As a result, the navigational map designed by Zepessen contained information about the airport that was wrong.

    According to YPA, contracts are signed between all airlines around the world with local civil aviation authorities, in which all details about available means and assistance to pilots are expressly stated, a fact which leads to the possible conclusion t hat the Yakovlev-42 pilot was not aware that no radar was installed at Macedonia Airport.

    [17] Well-known journalists Trogadis, Voulgaris pass away

    Athens, 23/12/1997 (ANA)

    Government spokesman Demetris Reppas expressed the sorrow of both the government and himself personally yesterday over the deaths of longtime journalists Pantelis Trogadis and Costas Voulgaris, saying they were two distinguished journalists.

    Mr. Reppas said Pantelis Trogadis offered his services from various positions with vigor.

    Trogadis died Sunday afternoon of a heart attack at the age of 65. He was born in Stimanga, Corinth, and had been a reporter with several newspapers and broadcast media outlets both abroad and in Greece.

    Trogadis had also served as the Athens News Agency's correspondent in Strasbourg from 1987 to 1990. His last post was as director of Greek Radio's (ERA) Fifth Program.

    He will always be remembered by friends and colleagues as a progressive and sincere journalist who had always fought for democratic ideals. His contribution to the press in Greece and expatriate Greeks was invaluable.

    The management and employees of the Athens News Agency expressed their sympathy to his family.

    In addition, the Coalition of the Left (Synaspismos) expressed its deep sorrow at Trogadis' death, underlining that his long service was a bequest for the new generations.

    Mr. Reppas said veteran "Kathimerini" columnist Voulgaris helped readers understand things and to approach issues preoccupying us with calm.

    Voulgaris was best known as the writer behind the "Paratiritis" (Observer) column.

    He died on Saturday at the age of 69 after a short hospitalization.

    [18] Greek stocks hit by rising domestic interbank rates

    Athens, 23/12/1997 (ANA)

    Greek equities came under strong pressure on the Athens Stock Exchange yesterday to end substantially lower.

    Traders said the market was worried over developments in the governing PASOK party, rising interest rates in the domestic money market and extreme volatility in international markets.

    Bank of Greece's sources reported outflows totaling 320 million ECUs at the drachma's fixing in the domestic foreign exchange market. Bankers said the incident should not be a cause of concern and stressed that foreign investors were changing their short-term positions in the market ahead of the Christmas holidays.

    The general index closed 2.04 percent down at 1,461.21 points.

    Trading was extremely heavy with turnover at 51 billion drachmas reflecting transactions of large blocks of shares.

    Sector indices lost ground. Banks fell 2.24 percent, Insurance eased 0.63 percent, Leasing dropped 1.82 percent, Investment was 1.44 percent off, Constructions fell 2.94 percent, Industrials ended 2.09 percent down, Miscellaneous fell 2.81 percent and Holding dropped 2.08 percent.

    The parallel market index for small cap companies lost 1.59 percent while the FTSE/ASE index ended 1.92 percent down at 834.65 points.

    Broadly, decliners led advancers by 177 to 33 with another 19 issues unchanged.

    Etma, Boutaris, Dane and Desmos scored the biggest percentage gains at the day's upper limit of 8.0 percent, while Keranis, Mesochoritis, Ridenco and Viosol suffered the heaviest losses.

    National Bank of Greece ended at 24,990 drachmas, Ergobank at 14,500, Alpha Credit Bank at 16,180, Delta Dairy at 3,240, Titan Cement at 12,800, Intracom at 13,105 and Hellenic Telecommunications Organization at 5,800.

    [19] Cosmote launches mobile network in January

    Athens, 23/12/1997 (ANA)

    Cosmote, Hellenic Telecommunications Organization's mobile phone subsidiary, will start operating on the axis Athens-Thessalonica-Patras by the end of January.

    Hellenic Telecoms (OTE) chairman Demetris Papoulias said yesterday that the company has already started taking subscriptions and stressed that any delay in launching of Cosmote's services was a result of problems faced by a new TV set up company.

    Mr. Papoulias said that the company's next target is extending the mobile phone network to Larisa, Katerini, Halkidiki prefecture and Halkida.

    Cosmote is offering free connection to users for the first four months of their subscription.

    OTE's chairman said he hoped that a five-year investment program, totaling 1.3 trillion drachmas, would maintain the company's leadership in the market.

    He also said that OTE would promote measures to cut operation costs in order to boost earnings and create a modern and competitive network.

    [20] State securities dematerialization begins

    Athens, 23/12/1997 (ANA)

    Greek authorities yesterday announced the beginning of a dematerialization process for state securities such as interest-bearing bills and bonds.

    The process will start with the dematerialization of drachma bonds issued on December 27, 1995 with seven year duration.

    The National Bank of Greece noted its customers, holders of the specific bond issues, to confirm the order of dematerialization of their holdings.

    The dematerialization process of state securities would contribute in modernizing Greece's bond derivatives market and trading settlement.

    [21] ELBO to supply armed forces with 2,000 jeeps

    Athens, 23/12/1997 (ANA)

    The Hellenic Vehicle Industry (ELBO) is expected to sign a contract worth 30 billion drachmas with the national defense ministry for the production of 2,000 one-ton military jeeps for the country's armed forces.

    The contract will be signed today at ELBO's facilities in Sindos by Defense Minister Akis Tsohatzopoulos and ELBO Chairman Lykourgos Sakelaris.

    [22] Pro football clubs post total losses of 23.5 billion

    Athens, 23/12/1997 (ANA)

    Most Greek pro football clubs (PAE) are "loss-making" and "illegal" according to the development ministry.

    A document addressed to Sports Under-secretary Andreas Fouras by the general secretariat of commerce states that several PAEs have not submitted for publication their balance sheet for the fiscal year from July 1, 1996 to June 30, 1997, while most post losses.

    It is characteristic that the 18 pro clubs in the Greek first division have total losses amounting to 23.5 billion drachmas.

    The development ministry's document gives administrations of PAEs a 15-day limit to submit supporting documents for their balance sheets, as anticipated by law. They also have a two-month period to convene a general assembly of shareholders to decide either to increase their share capital or dissolve the company.

    [23] Citibank interest rates

    Athens, 23/12/1997 (ANA)

    Citibank yesterday announced the following interest rates for accounts in foreign exchange:

    US dollar 9.15 per cent; Japanese yen 3.58 per cent; deutschmark 6.92 per cent; ECU 7.64 per cent; Dutch florin 6.85 per cent; French franc 6.88 per cent; pound sterling 10.90 per cent; Swiss franc 4.79 per cent; Belgian franc 7 per cent and Italian lire 9.20 per cent.

    [24] EOT on decree on travel agencies

    Athens, 23/12/1997 (ANA)

    National Tourism Organization (EOT) general secretary Nikos Skoulas said yesterday that no-one will be taken by surprise by a new presidential decree governing the operation of tourist and travel agencies.

    Mr. Skoulas said the decree will be the result of dialogue between all parties involved.

    [25] High court ruling on hotel reservations

    Athens, 23/12/1997 (ANA)

    The Supreme Court yesterday ruled that in case of partial cancellation of hotel room reservations, all rooms initially reserved and subsequently not used must be paid for in full.

    The ruling overturned a decision by a Corfu appellate court that reviewed a case were a travel agency had reserved 250 rooms for 12 days in April 1988 for a high school trip. The appellate court verified that the travel agency did not notify the hotel 2 1 days in advance of the partial cancellation, as required. As a result, rooms worth a total of 2.1 million drachmas went unused.

    While the lower court decided to award half the cost of the unused rooms, the Supreme Court awarded the full amount, ruling in favor of the plaintiffs.

    [26] Three individuals summoned over Delta Chrimatistiriaki fraud

    Athens, 23/12/1997 (ANA)

    Individuals and legal entities involved in the Delta Chrimatistiriaki brokerage firm fraud case will be summoned for questioning by a special judicial examiner.

    Indictments have already been issued for the president and two executives of the now defunct brokerage firm, with all three given until Jan. 22 to prepare their testimony.

    [27] Papoutsis-Avramopoulos meeting over Athens' tourism prospects

    Athens, 23/12/1997 (ANA)

    The European Commission fully supports Athens municipality's initiatives for the Greek capital's tourism promotion and development, according to statements by EU Commissioner Christos Papoutsis yesterday after meeting Athens Mayor Demetris Avramopoulos.

    "Athens constitutes the gateway to Europe in the tourism sector and the initiative for the creation of an Athens council of tourism with the main aim of strengthening the tourist activity and the role of Athens in the future is in this direction," Mr. Papoutsis said.

    "It is an initiative of particular importance and for this reason I hailed it from the very first moment and I will support it with all the powers provided by the European Commission," he added.

    It was agreed at the meeting to have a common examination by the mayor, the Athens Council of Tourism and the European Commission of proposals and ideas which could lead to the future tourism development of Athens along paths which will be more environmentally friendly.

    Mr. Avramopoulos said Athens will take a series of initiatives next year mainly targeting European markets.

    End of English language section.


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