Athens News Agency: Daily News Bulletin in English, 98-03-06
From: The Greek Press & Information Office, Ottawa Canada <grnewsca@sympatico.ca>
ATHENS NEWS AGENCY BULLETIN (No 1432), March 6, 1998
Greek Press & Information Office
Ottawa, Canada
E-Mail Address: grnewsca@sympatico.ca
CONTENTS
[01] Greece to facilitate contacts between EU, FYROM
[02] Greek stance on FYROM name unchanged
[03] Commission reportedly pleased with structural funds' absorption rate
[04] Yacoub: Rejection of organ transplants may be solved within 5 years
[05] Kranidiotis: Kosovo`s future lies within Yugoslavia, calls for respect
of human rights
[06] Greece rejects TurKish claim of air incident over Aegean
[07] No intervention in Kosovo, Athens says
[08] Washington calls on Greece, Turkey to resolve differences with
peaceful means
[09] Tsohatzopoulos in Georgia
[10] Air force to assess two F-15E fighters
[11] Simitis at Panteio University
[12] Gov't says early elections not considered
[13] Mitsotakis statement creates more turmoil in ND
[14] AEK ties with Russian club in football, advances in basketball
[15] National policy on digital-satellite TV being drafted
[16] ND leader visits women's prison
[17] Noted Turkish writer Kemal's latest book on the uprooting of ethnic
Greeks
[18] ESR rules in favour of journalist Someritis
[19] Jewish Museum of Greece opens
[20] Serapheim continuing treatment
[21] Police consider future of 14 'detained' mules
[22] V. Papandreou on controversial power plant construction contract
[23] 'Economist' roundtable discussion in April
[24] Iraqi ambassador calls for end to UN sanctions
[25] Economic News
[01] Greece to facilitate contacts between EU, FYROM
Athens, 6/3/1998 (ANA)
Greece intends to increase contacts with the Former Yugoslav Republic of
Macedonia (FYROM) with a view to assisting the neighbouring country boost
its relations with the European Union, Alternate Foreign Minister George
Papandreou announced after talks in Athens yesterday with FYROM Foreign
Undersecretary Ognuen Malefski.
Mr. Papandreou stressed that cooperation between the two countries had
already developed considerably in the economic, political and cultural
fields, while he described the talks as particularly useful.
Mr. Malefski is heading a delegation whose visit is in the framework of
bilateral cooperation established by the 1995 New York interim agreement,
which put the two countries on the road to mending the often tense
relations of the past eight years.
Mr. Papandreou said discussion included developments in the Balkans,
particularly the situation in Serbia's province of Kosovo, which is causing
fears of tension spreading to the broader region.
Mr. Malefski said FYROM valued Greece's mediatory efforts towards a
resolution of the crisis.
"We encourage Greece in every way to continue its bilateral and
multilateral initiatives for finding a peaceful solution to the problem,"
he said.
On his part, Mr. Papandreou said that the only outstanding issue between
the two countries, that of the internationally recognised name of the
former Yugoslav republic, was not discussed in depth, as this is being
dealt with in the framework of UN-spons ored talks.
He also described the two countries' relations as of strategic importance,
noting that cooperation between them was a basic factor of stability in the
region and that resolution of the name issue would greatly enhance the
potential for further improveme nt.
The Greek alternate minister said he accepted Mr. Malefski's invitation to
visit Skopje in the near future.
[02] Greek stance on FYROM name unchanged
Athens, 6/3/1998 (ANA)
The government said yesterday that its position on the name of the Former
Yugoslav Republic of Macedonia (FYROM) remained the same.
"Greece will not discuss a solution which in any way includes the word
'Macedonia' in the name of the neighbouring country," government spokesman
Dimitris Reppas said.
Stressing that Athens wanted the interim agreement signed by the two
countries to be adhered to, he called on Skopje to contribute to efforts to
find a mutually acceptable solution.
To date, Mr. Reppas added, Skopje had not done this, being firmly
entrenched in their position.
[03] Commission reportedly pleased with structural funds' absorption rate
Brussels, 6/3/1998 (ANA- M. Spinthourakis)
Commission sources said yesterday that EU departments in charge of
structural funds were satisfied with the rate of implementation of large
projects in Greece.
This satisfaction concerns both the rate of absorption of funds and the
qualitative upgrading of implementation procedures, the sources said,
citing as examples the Patra-Athens-Thessaloniki and Egnatia highways, and
the natural gas network.
The competent departments are said to be particularly satisfied with the
fact that the procedures for the appointment of a financial consultant, who
will secure the envisaged 50 per cent participation of the private sector
in the project, will have been c ompleted by March 17.
Regarding the gas project, the departments said they considered a
particularly important the presentation of the project in Houston, on March
23, and in London, on March 20, and were stressing that already at least
two large European companies had expre ssed interest in participating in
the construction and operation of the distribution networks in Athens,
Thessaloniki, Volos and Larisa. Private sector participation is envisaged
at 40 per cent.
[04] Yacoub: Rejection of organ transplants may be solved within 5 years
Athens, 6/3/1998 (ANA)
British heart surgeon Magdi Yacoub yesterday said that molecular biology
might solve the problems of post-operative transplanted organ rejections
within the next five years Dr. Yacoub made the remarks during the 2nd
Mediterranean conference on thoracic diseases, held in Greece. He said that
due to the inadequate number of human organ donors, researchers are looking
into ways to use animal organs for transplants.
He added that such a move may include dangers such as animal viruses being
introduced to humans, although the danger is small.
Dr. Yacoub urged everyone to understand the importance of organ donations
and the coordination services and agencies to properly handle the donated
organs.
[05] Kranidiotis: Kosovo`s future lies within Yugoslavia, calls for respect
of human rights
London, 6/3/1998 (ANA - L. Tsirigotakis)
Foreign Undersecretary Yiannos Kranidiotis stated yesterday that the future
of the troubled Kosovo province lies within Yugoslavia's borders, while
human rights and democratic processes must be respected for its entire
population.
Mr. Kranidiotis made the statements during an address to a conference held
at the London School of Economics (LSE) on the issue of "The Contribution
of Changing Greece Towards the European Union".
The three-day conference, organised by the Greek section of the European
Institute, focuses on Greece's contribution to the European Union. It also
forms part of a "Greece in Britain" series of events. The Greek
undersecretary said Greece also support s a relative initiative by the
British EU presidency regarding Kosovo.
In other statements, Mr. Kranidiotis emphasised the important role played
by Greece in the Balkans and the Middle East and reminded that Athens has
considerably influenced the shaping of the EU's policy in these two regions
with relevant political and d iplomatic initiatives it has undertaken over
past years.
Mr. Kranidiotis termed Greece's role in the Balkans and the Middle East as
a serious factor of stabilisation, peaceful cooperation and a bastion of
democracy.
He then focused on the position of Turkey in the EU, saying that Greece
emphatically supports the merging of Turkey with Europe. Mr. Kranidiotis
added that Turkey's European orientation is necessary and possible, while
Greece would like to see Turkey pa rticipating in the forthcoming European
Conference with one clear precondition, namely, that Turkey accept the
criteria and principles set out for candidate countries by the Luxembourg
summit.
Mr. Kranidiotis said that Turkey must realise that the coming years will be
historic for its future. Ankara will either become a member of the European
family or follow its own path.
Among the other speakers at the conference are Finance Undersecretary Nikos
Christodoulakis, Bank of Greece Governor Lucas Papademos, Alternate Foreign
Minister George Papandreou, former New Democracy minister Stephanos Manos,
and former ND minister Dor a Bakoyianni.
British speakers include William Blair, a professor at the London School of
Economics and brother of Prime Minister Tony Blair.
[06] Greece rejects TurKish claim of air incident over Aegean
Athens, 6/3/1998 (ANA)
National defence ministry sources said a Turkish claim yesterday that two
Turkish F-16 warplanes were harassed in international air space over the
Aegean by four Greek F-16s was "imaginary".
A Turkish foreign ministry spokesman said that the four Greek warplanes
attempted to prevent the Turkish fighters from completing a mission
northwest of Limnos.
According to the Turkish spokesman, "this provocative move, which endangers
the safety of a flight in a Notam region, does not adhere to any
international rule."
[07] No intervention in Kosovo, Athens says
Athens, 6/3/1998 (ANA)
The province of Kosovo belongs to Yugoslavia and any intervention motivated
by the domestic affairs of another country should not be conceivable,
government spokesman Dimitris Reppas said yesterday.
The spokesman made the statement when asked by reporters about the
possibility of US military intervention in the strife-torn province of
Kosovo.
In a later development, Prime Minister Costas Simitis, Foreign Minister
Theodoros Pangalos and Alternate Foreign Minister George Papandreou met in
the evening and discussed several current foreign affairs issues.
According to press reports, the three discussed Mr. Pangalos' visit to
Belgrade and the arrival of re-elected Cyprus President Glafcos Clerides in
Athens for discussions with the Greek leadership.
They also discussed the developments in the European Union in light of the
European Conference, set for March 12 in London, and a related meeting of
the EU Council of Foreign Ministers in Edinburgh on March 13.
Papariga:
Meanwhile, Communist Party of Greece (KKE) Secretary General Aleka Papariga
expressed reservations over the fate of a Greek initiative to defuse
tension in the Kosovo province.
Speaking in Rethimno yesterday, during her four-day tour of Crete, Ms
Papariga said the crisis in the specific region is due to the fact of what
she called the "American factor" wants countries' leaderships to emerge
from the "CIA's tubes". She also vi sited the Institute of Geological and
Metallurgical Research (IGME) and expressed her party's absolute opposition
to the abolition of IGME.
Synaspismos deputies meet with FYROM counterpart:
Coalition of the Left and Progress (Synaspismos) deputies Spyros Danellis
and Mustafa Mustafa yesterday met with a parliament deputy from the Former
Yugoslav Republic of Macedonia (FYROM), currently visiting Greece as a
member of a high-ranking FYROM dele gation.
According to a press release, the Greek deputies and Social Democratic
Union deputy Nano Ruzin discussed the need to expand political, economic
and cultural relations between the two countries.
They also discussed developments in the Balkans, focusing in the situation
in Kosovo.
[08] Washington calls on Greece, Turkey to resolve differences with
peaceful means
Washington, 6/3/1998 (ANA)
The United States once again called on Greece and Turkey to resolve their
whatever differences with peaceful means.
Replying to a question on whether the issue of the Imia islets will be
discussed during the meeting between US President Bill Clinton's national
security adviser, Sandy Berger, and Foreign Minister Theodoros Pangalos
during his upcoming visit to Washing ton, White House spokesman Mike
McCurry said on Wednesday:
"The question of whether the Imia-Kardak issue will be raised in
discussions we are expecting with the Greek Foreign Minister remains to be
seen. I think that our views on disputes in the Aegean are well known to
both the governments of Turkey and Greec e. We have encouraged both our
allies in NATO to resolve in a friendly fashion whatever dispute they have
on territorial claims in the Aegean."
Speaking before a Congressional subcommittee, US Secretary of State
Madeleine Albright stressed that the US will continue to urge Ankara to
proceed with improving human rights. She assessed that partial progress has
been achieved in 1997, but conceded t hat "Turkey still has a long way to
go."
Ms Albright reiterated that Turkey must become a member of the European
Union, adding that the reasons why this is not happening are not limited to
the state of human rights.
She further said that the Cyprus issue constitutes a top priority for the
US administration, and to this end even Mr. Clinton has been activated, as
well as herself and senior State Department officials working under Richard
Holbrooke.
Ms Albright reiterated that the US supports the efforts of the UN for a
solution to the Cyprus issue on the basis of a bi-communal, bi-zonal
federation through direct negotiations between the Greek Cypriot and the
Turkish Cypriot leaders.
She said she had also preoccupied herself with the issue at the time she
had been the US representative at the UN, adding that following a delay due
to the recent presidential elections in Cyprus, Washington is activating
itself again with the purpose o f bringing the two sides to the negotiating
table.
Mr. Pangalos will visit Washington at the end of March.
[09] Tsohatzopoulos in Georgia
Athens, 6/3/1998 (ANA)
National Defence Minister Akis Tsohatzopoulos left for Georgia last night
to officially hand over the search and rescue vessel "Lindos" to the
Georgian navy. The vessel is a gift from Greece within the framework of a
bilateral military accord signed last year in Tbilisi.
The ceremony will take place in the port of Poti today, where the Lindos is
to arrive accompanied by the tank landing craft "Samos" with a cargo of
humanitarian aid.
[10] Air force to assess two F-15E fighters
Athens, 6/3/1998 (ANA)
The Hellenic Air Force will assess two US-made F-15E fighters at the
Aghialos air base for the next two weeks.
The two F-15E fighters, which arrived from England, will be tested by
several Greek pilots, who were trained at Boeing's installations in the
United States.
Greece will be the first NATO member to test the "E" version of the plane
in view of an expected major arms purchase. The F-15E is currently flown
only by the US and Israeli air forces.
[11] Simitis at Panteio University
Athens, 6/3/1998 (ANA)
Scuffles broke out between groups of students and the police yesterday at
the Panteio University in Athens shortly before the inauguration of a new
library where Prime Minister Costas Simitis was scheduled to speak.
Mr. Simitis officially inaugurated the new library as groups of students
shouted and jeered.
He underlined the special importance which both he and the government
attached to libraries.
"The library is the nucleus of research and educational activity at a
university," Mr. Simitis said, adding that funds totalling 25 billion
drachmas had been allocated for the upgrading of libraries in a special
programme under the Community Support Fra mework II.
Panteio Dean Aimilios Metaxopoulos stressed that Mr. Simitis was a member
of the university community, having lectured there for a number of
years. He noted that the premier had donated 4,000 books to the Panteio
from his father's collection.
Today, the 8,000-square-metre library has 70,000 titles, while a further
40,000 will soon be added. It also offers the very latest services,
including Internet access.
The library employs a full-time staff of 24 and remains open 24 hours a
day.
[12] Gov't says early elections not considered
Athens, 6/3/1998 (ANA)
Government spokesman Dimitris Reppas said yesterday that the government
will exhaust its four-year term, replying to questions on a statement by
the justice minister on Wednesday, which was interpreted as an intention to
go to the polls a year ahead of sc hedule.
Replying to another question, Mr. Reppas said there was no question of a
lack of communication between Justice Minister Evangelos Yiannopoulos and
Culture Minister Evangelos Venizelos who, however, made separate statements
on Wednesday concerning the am endment of the Constitution.
[13] Mitsotakis statement creates more turmoil in ND
Athens, 6/3/1998 (ANA)
A statement by former New Democracy prime minister Constantine Mitsotakis
that the electoral body should not vote for people attempting to turn
parties into "concentra-tion camps", plunged the main opposition into
further turmoil yesterday.
"Voters should condemn those attempting to turn parties from beehives of
political creativity into concentration camps, in which they attempt to
trap cadres and voters and use them as instruments which will carry them to
power," Mr. Mitsotakis told the newspaper "Imerisia".
"Respect for internal party democracy is a precondition for the parties to
enjoy elementary confidence as hopefuls for managing authority,"
Mr. Mitsotakis, who is also ND's honorary president, said.
Coming in the aftermath of the recent expulsions of six deputies from the
party, as well as speculation on the prospects for the setting up of a new
political formation, and despite certain overtures by the party leader
Costas Karamanlis, which the form er premier seemed to reject, the
statement caused intense party reaction, particularly at the grass roots
level.
In reaction, former ND deputy leader Ioannis Varvitsiotis said "New
Democracy is a free and democratic party." However, deputies close to
Mr. Karamanlis said it was wrong to interpret the former premier's
statement as a call to vote against his party.
"He was obviously referring to socialist-communist parties," said
Panayiotis Skandalakis.
Sources said later yesterday said Mr. Mitsotakis did not intend to attend
Monday's parliamentary group meeting if discussion of the current situation
in the party was not placed on the agenda.
[14] AEK ties with Russian club in football, advances in basketball
Athens, 6/3/1998 (ANA)
The first leg of the European Cupwinners' Cup match between AEK Athens and
Lokomotiv Moscow ended in a 0-0 tie yesterday in front of roughly 30,000
fans at AEK's soldout Nea Philadelphia stadium.
AEK, the only Greek team left in European football tournaments, finished
the game with nine players. Romanian defender Anton Dobos was shown a red
card for dangerous play in the 75th minute, while defender Vaios
Karayiannis was shown his second yellow c ard in the 90th minute.
The winner of the second game in Moscow in two weeks will advance to the
semi-final round.
In another football-related development, the Olympiakos Piraeus club
announced yesterday that defender Nikos Dabizas will transfer to Newcastle,
of the English Premier League, probably after this Sunday's game with
Kalamata.
According to reports, the Olympiakos player was sold for 650 million
drachmas.
Meanwhile, in Euroleague basketball action, AEK Athens qualified for the
quarter-finals after beating Croatia Split 62-54 away in the second game of
a best-of-three series. On the other hand, Olympiakos Piraeus' basketball
team Ð last year's European ch ampions Ð lost its second game to Partisan
Belgrade 72-60 away, and was eliminated.
[15] National policy on digital-satellite TV being drafted
Athens, 6/3/1998 (ANA)
The government is drafting a national policy on the development of
digital-satellite television and multimedia with a uniform national digital
platform for electronic media and radio, Transport and Communications
Minister Tasos Mantelis and government spo kesman Dimitris Reppas said in a
joint press conference yesterday.
Both ministers made the statements after a meeting with Prime Minister
Costas Simitis.
The basic aim of the government's strategy is consumer protection, which
will be achieved through a single conventional decodifier system,
Mr. Mantelis said.
The government is inviting participation in the platform of the state-run
telecoms organisation (OTE), the Greek Radio Television (ERT) concern,
without the consent of which no one can transmit by satellite, and other
private organisations, such as mas s media, service and technology
companies etc.
[16] ND leader visits women's prison
Athens, 6/3/1998 (ANA)
Main opposition New Democracy leader Costas Karamanlis visited the
Korydallos women's prison yesterday.
During his visit he noted that "the correctional system in our country is
obsolete and ineffective, as a result, prisons present a sad picture."
Mr. Karamanlis announced that ND has a programme for the modernising of the
nation's correctional system.
[17] Noted Turkish writer Kemal's latest book on the uprooting of ethnic
Greeks
Ankara, 6/3/1998 (ANA - A. Ambatzis)
The first book in the latest trilogy by well-known Turkish writer Yassar
Kemal, focusing on the uprooting of the ethnic Greek community in Turkey,
is entitled "The story of an island", and has become a bestseller in Turkey
recently.
Three editions of 5,000 copies each have been published since November. The
first book of the trilogy will also circulate in Greece with a Greek
translation at the end of the year, while a translation into Greek of
another book by Mr. Kemal, entitled "C rime at the blacksmith" is expected
to circulate in September.
The trilogy, which starts with "The story of an island", refers to the
uprooting of ethnic Greeks and their dramatic course towards Greece, the
alteration of the population and the transfer of Kurds to the island, which
is another story of uprooting.
[18] ESR rules in favour of journalist Someritis
Athens, 6/3/1998 (ANA)
The National Radio and Television Council (ERS) yesteday ruled in favour of
journalist Rihardos Someritis, who had demanded that the private Mega TV
channel retract, as the law requires, and restore the honour of his father,
Stratis.
The late Stratis Someritis was alleged to have collaborated with the
wartime Nazi occupiers in a programme by television satirist Malvina
Haritopoulou.
"Stratis Someritis' resistance activity during the occupation is an
indisputable fact," an ERS majority opinion ruled.
The decision was reached with 7 votes in favour and 2 against.
[19] Jewish Museum of Greece opens
Athens, 6/3/1998 (ANA)
The Jewish Museum of Greece yesterday opened at its private neoclassical
building in the Plaka district.
The museum is the third largest of its kind in Europe, with exhibits from
the every day life of the 28 Jewish communities in Greece before World War
II.
[20] Serapheim continuing treatment
Athens, 6/3/1998 (ANA)
The health of Archbishop of Athens and All Greece Serapheim, currently
undergoing treatment at the Laiko Hospital in Athens, has improved even
further, according to a latest medical bulletin.
The president of the hospital, Ioannis Papadopoulos, read the bulletin to
reporters at noon yesterday, which stressed that "the health of the
Archbishop is showing considerable improvement and, slowly but steadily, it
is returning to levels before the i nfection. The Archbishop will stay in
hospital to complete his therapy because his constitution is weak."
Mr. Papadopoulos also said that the Archbishop's doctors do not know when
he will leave hospital because the risks of complications have not yet
disappeared.
[21] Police consider future of 14 'detained' mules
Athens, 6/3/1998 (ANA)
Greek police and judicial officials are pondering the future of the 14
mules "detained" at the Greek-Albanian border two days ago, loaded with
2.17 tons hashish.
The mules were driven by several suspects who fled across the border when
spotted by police.
As Greek law has not anticipated such a case, the mules were considered
vehicles and were confiscated for auction, but there are no holding areas
for them, so for the time being the mules are "incarcerated" in a Kastoria
football field.
The next problem is the fact that as agriculture in Greece is now widely
mechanised, these animals are rarely used in the fields, so there is no set
auction ground or procedure.
There is, of course, the solution of releasing the mules, while if returned
to their owners they might come back to Greece laden with weapons.
[22] V. Papandreou on controversial power plant construction contract
Athens, 6/3/1998 (ANA)
Development Minister Vasso Papandreou yesterday asked that the controversy
surrounding the construction contract of a power plant scheduled to be
built near the border town of Florina be referred to Parliament's
institutions and transparency committee.
She added that despite Prime Minister Costas Simitis' very clear reply to
critics in Parliament on Wednesday, "some of them are still bent on
maintaining the cycle of scandal mongering".
"The government wants no shadow of a doubt to remain on the issue, despite
being aware that the continuing scandal mongering, both by a section of the
press and specific politicians is only due to their attempt to serve
particular business interests," s he said.
"They must realise that hypocricy and scandal mongering has its limits. It
is most characteristic of their hypocricy that the relevant contract and
all documents have been at the disposal of deputies for about a year now,
and no one has asked to be brie fed," she added.
[23] 'Economist' roundtable discussion in April
Athens, 6/3/1998 (ANA)
The "Economist" magazine will organise a second roundtable discussion with
the Greek government on April 8-9, entitled "Welcoming a New Business Era."
The conference will focus on issues concerning the Greek economy in light
of economic and monetary union, the role of the euro in the global economy
and the contribution of the Olympic Games towards the overall development
of Greece. Issues regarding NA TO enlargement and its repercussions in
Greece will also be examined.
The Economist's conference will be addressed by European Commission
President Jacques Santer, former US Secretary of State Lawrence
Eagleburger, main opposition New Democracy leader Costas Karamanlis, other
party leaders, ministers, bank governors, memb ers of the diplomatic corps
and businessmen.
[24] Iraqi ambassador calls for end to UN sanctions
Athens, 6/3/1998 (ANA)
Iraqi Ambassador to Greece Issam Saud Khalil yesterday expressed the hope
that sanctions imposed on his country would be lifted within the year, and
stressed that Iraq would respect the obligations set out in the agreement
signed in Baghdad last week by U N Secretary General Kofi Annan.
Addressing a press conference yesterday, the Iraqi ambassador accused the
US and Britain of trying to thwart the accord right up until the last
minute.
"Even after the agreement was signed these two powers expressed a lack of
trust and threatened to use force if (the agreement) were not implemented,
with the aim of creating a suitable climate for the sanctions against Iraq
to be extended," he said.
Mr. Khalil stressed the hardships that sanctions had brought for the Iraqi
people, saying that they amounted to a genocide since more than one and a
half million people had died as a result during the seven years since the
sanctions were imposed.
The ambassador also accused British Prime Minister Tony Blair of making
"uncivilised" statements against Iraq and its leader Saddam
Hussein. Mr. Khalil maintained that Iraq possessed no prohibited weapons of
any kind, something which he said had been pr oved by the UN weapons
inspections carried out since 1991.
Iraq, he said, had never threatened neighbouring states, and added that
such claims had been invented by the US in order to create tension in the
region.
Dialogue and negotiations, irrespective of how long these might last, were
the only way to resolve differences between nations.
[25] Economic News
Athens, 6/3/1998 (ANA)
Greek stocks edge down on profit-taking:
Greek equities came under mild pressure yesterday from profit-taking to end
lower, ending a two-day rally on the Athens Stock Exchange.
Traders said news of a small rise in interbank rates and outflows totalling
60 million US dollars at the drachma's fixing dampened sentiment and drove
investors to an early liquidation of recent gains.
The general index closed 0.23 percent down at 1,463.16 points.
Sector indices were mixed. Banks fell 0.75 percent, Insurance was 0.73
percent down, Leasing rose 0.19 percent, Investment increased 0.23 percent,
Construction ended 0.37 percent up, Industrials fell 0.57 percent,
Miscellaneous was 0.10 percent higher a nd Holding fell 0.79 percent.
The parallel market index for small cap companies eased 0.51 percent. The
FTSE/ASE blue chip index ended at 817.10 points, down 0.29 percent.
Trading was heavy with turnover at 20.4 billion drachmas. Hellenic
Telecommunications Organisation rose 145 drachmas to end at 6,085 in heavy
volume of 1,074,120 shares.
Broadly, decliners led advancers by 133 to 83 with another 21 issues
unchanged.
European Credit, Tria Alpha and Ridenco scored the biggest percentage gains
at the daily 8.0 percent upper volatility limit, while Viosol, Agrinio
Metalplastic, Desmos and Ekter suffered the heaviest losses.
National Bank of Greece ended at 20,990 drachmas, Ergobank at 15,005, Alpha
Credit Bank at 15,980, Delta Dairy at 2,930, Titan Cement at 14,140 and
Intracom at 15,000.
Greek casinos show turnover of Dr 343 bln in 1997:
Turnover in Greece's private casinos was 343 billion drachmas in 1997 and
in state-owned casinos 50 billion drachmas, a development ministry official
said yesterday.
The official said that an average of 2,500 people visited the country's six
private casinos daily, and 850 visited the state's three casinos in Mount
Parnes, Corfu and Rhodes.
General Bank of Greece to restructure:
General Bank of Greece yesterday announced a restructuring plan aimed at
strengthening and expanding its activities in the Greek banking sector.
George Daskalakis, the bank's chairman, said during a press conference that
the plan's priority was to lower the main shareholder's stake, the Greek
army fund, which currently holds 68.5 percent of the bank's share capital.
The fund will offer a 33 percent stake to institutional investors through a
private placement. A 23 percent stake will be offered through book building
and another 10 percent to Interamerican, a Greek insurance group, following
the signing of a strategi c alliance between the two firms.
National Bank of Greece will act as book-runner of the offer.
The restructuring plans also foresees in a second phase an increase in the
bank's share capital by 23 billion drachmas. The new capital will be used
to expand its credit portfolio and fund a three-year restructuring
programme.
National Bank of Greece will act as underwriter of the issue.
Mr. Daskalakis said that General Bank would not offer a stake to any other
Greek bank and that more than 51 percent of its capital would eventually
end up in private hands.
The bank plans to open 30 new branches to reach a total of 121 and start
operation of 150 automated cash machines by the end of the year.
Greek business urges gov't to keep hard drachma policy:
The European Federation of Business and Businessmen yesterday urged the
Greek government to maintain its hard-drachma policy and peg the currency's
parity to the future single European currency in order to prevent the
collapse of thousands of Greek enterp rises burdened by foreign exchange
loans.
The federation, including 250 Greek and international companies, warned
that a decision to devalue the drachma would damage the economy.
It also urged the Greek government to tie the drachma's parity to the euro
along with the other European currencies through a unilateral declaration
by the government, despite its inability to fulfill the Maastricht
criteria.
The federation urged the government to take measures to facilitate domestic
enterprises in gradually converting their debts to the single European
currency, and abolish a 1.2 percent tax imposed on foreign exchange loans.
Greek public services urged to cut energy consumption:
Greece's Centre for Renewable Energy Sources (KAPE) has launched a campaign
to encourage state services to cut energy consumption and switch to
alternative power sources.
The centre, which belongs to the development ministry, has already made
energy reduction proposals to bodies including the defence ministry, the
public sector's highest consumer, and Civil Aviation Authority, KAPE
president Martha Simandoni told a news conference.
Public services could cut energy consumption by around 15 percent, and
therefore reduce operational expenses. Central government services spent 15
billion drachmas on energy in 1997, so a 15 percent saving would mean a cut
in spending of 2.2 billion drachmas, Ms Simandoni said.
In another move, KAPE has undertaken a one-year project to design an energy
network for the Palestinian Energy Authority under the European Union's
Synergy programme.
OA to lease aircraft:
Olympic Airways' (OA) board of directors yesterday decided to lease 10
passenger aircraft in order to cover the needs of the airline's summer
schedule.
OA will lease four Airbus and six Boeing 737 planes for between two and 22
months, depending on the company's needs, while contracts will be separate
for each aircraft.
In a related development, the Labour Review Board of Glyfada called OA's
new labour programme for flight attendants illegal and against the
contractual obligations of the company.
According to press reports, OA's administration considers that the review
board has no right to judge the labour programme, only to sign it.
Development programme proposals:
An inter-ministerial group for the 2000 to 2006 development programme,
headed by National Economy Undersecretary Christos Pachtas, yesterday sent
a circular to all related government agencies asking for their proposals.
The group will present the detailed development programme to the European
Commission in the first quarter of 1999.
IOBE study on unemployment:
The Foundation for Economic and Industrial Research (IOBE) yesterday
released a study on the reasons for increased unemployment during the
1980-1995 period.
IOBE cites intransigence by the trade unions on economic issues, slow
adjustment of the job market to external pressures and the high cost of
labour.
The study proposed a decrease of labour-related costs and confronting the
problem of undocumented foreign workers.
Seamen protest unemployment in sector:
About 500 seamen held a demonstration in Piraeus yesterday to protest
widespread unemployment among merchant navy engineers.
Trade union leaders who addressed the protest rally charged that the
government, instead of solving the problems was making them worse,
resulting in an increase in unemployment.
After the rally, the protesters marched through Piraeus to the Merchant
Marine Ministry building, where a committee asked to meet with Minister
Stavros Soumakis who was however elsewhere.
The protesters said they would wait outside the building until Mr. Soumakis
returns.
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