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Athens News Agency: Daily News Bulletin in English, 98-04-22

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

From: The Athens News Agency at <http://www.ana.gr/>

CONTENTS

  • [01] Greece reaffirms support for Cyprus' defence
  • [02] Karamanlis' condition worsens
  • [03] Gov't, ND messages on April 21 anniversary of military coup
  • [04] Joint Turkey-Europarliament Committee session begins
  • [05] AEK Athens in the Euroleague final
  • [06] World Earth Day celebrated today
  • [07] Four men missing in boating accident
  • [08] 5th Mediterranean Forum ends on Spanish isle
  • [09] PSECA programme for fishing, fish farms
  • [10] Medical journal highlights risks from smoking
  • [11] Tzoganis on three-day Cyprus visit
  • [12] ECOFIN council focuses on euro's introduction
  • [13] Swiss investigation finds Roussel allegation over kidnap plot baseless
  • [14] CoE's Human Rights Commission to consider part of ex-king's complaint
  • [15] Stephanopoulos on official visit to Hungary
  • [16] Festival on Thassos
  • [17] Dozens of foreign inmates transferred from Korydallos
  • [18] F-5B crashes, pilots safely eject
  • [19] Greek stocks hit new record, jump 7.32 pct
  • [20] Tax squad finds barrage of offences in March swoop
  • [21] International lawyers Clyde & Co open office in Piraeus
  • [22] Greek shipper gets ISO environmental certificate
  • [23] Greek farm minister questions EU's tobacco policy
  • [24] Greece launches new bond trading market tomorrow
  • [25] Greece's Citibank announces forex loan account rates

  • [01] Greece reaffirms support for Cyprus' defence

    Athens 22/04/1998 (ANA)

    National Defence Minister Akis Tsohatzopoulos reiterated yesterday that Greece would stand by Cyprus in the face of Turkish threats and the on- going occupation of one-third of the island republic by Ankara's forces.

    Mr. Tsohatzopoulos made the statements following discussions with visiting US Defence Secretary William Cohen, who arrived for a brief stopover in Athens for talks on issues of mutual interest after winding up a five-day tour of eastern Europe and the M iddle East. Their meeting lasting for more than an hour and continued during a working lunch.

    "Greece, as a guarantor power, is concerned about the security of Cyprus and will stand by it in the defence of rights as long as there is a threat, whether from Turkish occupation troops on the island or from the refusal of Turkey to contribute to the ending of the military occupation and to an acceptable resolution of the Cypriot problem," the Greek defence minister stated in a joint press conference after their talks.

    The Greek defence minister said that the deployment of Russian S-300 missiles on Cyprus was solely the concern of the Cypriot government, which was the only authority able to decide on the issue.

    "It is an inalienable right of each country - and particularly a small country - to use all its means for its defence and we can not accept that through this limited defence system Turkey is being threatened," he said.

    Mr. Cohen said he did not ask for Greece's help in averting a deployment of the missiles on the island but said such a deployment would be a mistake, while noting Greece's desire to find a solution to the problem. He added that ways must be found to bri ng Turkish Cypriots and Greek Cypriots to talks.

    Turning to Greek-Turkish relations, Mr. Cohen said it was "a shame" that Greece and Turkey were not exploiting the chances open to them, such as proposals by the NATO secretary-general on a moratorium.

    Mr. Cohen said the US is willing to help both countries turn from an atmosphere of suspicion to a climate of trust, calling on an end to the use of threats of force, open diplomatic channels to resolve differences and adding that the essence of the issue was that there should be negotiations.

    The two also discussed the Greek military's multi-million dollar armaments procurement programme.

    Mr. Cohen said that the US was not discouraging Greece from any arms purchase but that the modernisation of the Greek armed forces was an issue he disucssed with Tsohatzopoulos and expressed his country's wish that it could help in this direction.

    The US he added, could also help in the creation of a multinational force for the Balkans, which would aid regional stability and cooperation.

    He added that Athens and Washington have a common target of creating conditions of stability, peace and cooperation in the wider region extending from the eastern Mediterranean, the Middle East and the Black Sea.

    Mr. Tsohatzopoulos said that developments in the wider geopolitical region were discussed which are signalled by the enlargement of the NATO alliance and the European Union, as well as initiatives being undertaken in the Balkan region on the shaping of collective security institutions.

    "On the basis of this common strategy, we discussed ways of contributing towards the tackling of problems which are created by desta-bilising attitudes, by events and countries in the region. In this context, we examined ways enabling the two countries to contribute to a positive development on the Cyprus issue, as well as ways of strengthening the conditions of stability, peace and cooperation between neighbouring countries which we need here in the Aegean more than in any other region," he said.

    He reminded that after the meeting of Balkan nations' defence ministers in Sofia, the shaping of a multinational force is developing to play a stabilising role in the region. Lastly, the possibilities of cooperation between the two countries in the mili tary sector and the Greek armed forces' armaments programme were also discussed. Mr. Tsohatzopoulos termed the meeting with his US counterpart "useful and constructive."

    On his part, Mr. Cohen stressed that Greece and the US have a long relationship in the defence sector as NATO members and cooperation between them has strengthened security for each country.

    However, Mr. Cohen reiterated both support by the US for the modernisation of the Greek armed forces and the commitment by US President Bill Clinton to strengthen bilateral relations.

    He said that within this context, the US Trade Secretary has come to Greece, the US Secretary of State will arrive in Greece this summer, while Washtington has sent distinguished diplomat Nicholas Burns as its ambassador to Athens.

    Mr. Cohen pointed out that the effort is being focused now on the creation of conditions of peace in the Balkans, since following developments in Bosnia-Herzegovina and Kosovo, it acquires a particular importance for Europe in general.

    "In this effort, Greece can play a leading role for stability in the region, " he said, adding that the US will offer their good offices to enable the creation of a multinational force in the Balkan region to become a reality.

    Replying to a question on terrorism in Greece on the occasion of several recent attacks on US-based targets, Mr. Cohen reiterated the concern of the American people over such incidents, and said that the US ambassador in Athens raises the issue openly, sincerely and with emphasis. He expressed the wish for problems to come to an end and those responsible for the deaths of people to be arrested.

    Mr. Tsohatzopoulos said that terrorist strikes do not denote a climate of anti-Americanism in Greece, but that terrorism is a criminal phenomenon which the Greek government is facing with determination.

    Mr. Cohen also officially invited Mr. Tsohatzopoulos to visit Washington for a continuation of their talks.

    Cyprus, Turkey : Meanwhile, according to reports from relevant sources, Mr. Tsohatzopoulos requested from his US counterpart that the US exert pressure on Turkey to stop what Athens considers Ankara's destabilising attitude and policy.

    According to the same reports, Mr. Tsohatzopoulos reiterated to his interlocutor that Cyprus constitutes the sensitive factor of bilateral problems and that it has the right to choose its defence. On the question of initiatives being undertaken for stability in the region, including the proposals by NATO Secretary General Javier Solana for confidence-building measures in the Aegean, sources stated that the cr edibility of Turkey will depend on the success of the initiative.

    KKE : In response, the Communist Party of Greece (KKE) issued an statement, stressing that the partitioning and "Americanisation of the Aegean" is being promoted.

    It added that statements by the Greek minister that Cyprus has the right to determine its defence armaments culminate in having a problematic content of a doubtful value, from the moment that the government itself is participating in the armaments progr ammes on the basis of instructions from the US and NATO, as well as the privatisation of the defence industry.

    Athens denies reports of Dayton-type conference for Cyprus : Athens yesterday denied reports that a Dayton-type peace conference on the Cyprus issue was being considered.

    "There is no such issue," government spokesman Dimitris Reppas told reporters.

    Referring to recent activity on the Cyprus issue, he said the government "could not have a negative stance on the interest being expressed by various sides."

    He added, however, that a resolution of the Cyprus problem had to be based on United Nations resolutions and summit agreements made between late Cypriot President Archbishop Makarios and leader of the Turkish Cypriots, Rauf Denktash.

    He reiterated that it was a sovereign right of the Cypriot government to decide on the purchase of Russian S-300 missiles.

    Athens News Agency

    [02] Karamanlis' condition worsens

    Athens 22/04/1998 (ANA)

    Former president Constantine Karamanlis' condition is worsening, according to a short announcement from his doctors yesterday.

    The statement, issued at midday, said that Mr. Karamanlis' condition was listed as "extremely critical".

    Mr. Karamanlis suffered renal failure late Monday night and doctors were reported to have said that the former president's health was at its lowest ebb since he was admitted to the hospital on April 7.

    The 91-year-old statesman was admitted to the Hygeia Hospital with a respiratory infection. He was placed on a respirator on April 12 after his heart stopped during a mild heart attack.

    "We cannot do any more than what we have already done," one of Mr. Karamanlis' doctors was reported to have said. Another said that "it was only a matter of time" before Mr. Karamanlis' health failed him completely.

    Another report on his health is scheduled for today, barring any developments during the course of the evening.

    Government spokesman Dimitris Reppas later expressed the government's hope that Mr. Karamanlis would recover. "

    "Constantine Karamanlis played a leading role in Greek political life for half a century," Mr. Reppas said. "The government and the Greek people wish and hope for his speedy recovery."

    Meanwhile, President Kostis Stephanopoulos yesterday sent a message of thanks to Turkish President Suleyman Demirel for his wishes for Mr. Karamanlis' speedy recovery, sent last Friday.

    Athens News Agency

    [03] Gov't, ND messages on April 21 anniversary of military coup

    Athens 22/04/1998 (ANA)

    The Greek people have a strong memory and their condemnation and rejection of those who deprived them of their democratic and civil rights is permanent, government spokesman Dimitris Reppas said in a statement yesterday to mark the grim 31st anniversary of the military coup d'etat of April 21, 1967.

    In a similar message on the occasion, the ruling PASOK party executive bureau said that "31 years after the fall of the dictatorship, the people's democracy and freedoms were the fixed values of our political system and were respected by all"

    The message said that on April 21 the country honoured all those who fought against the junta and the colonels, without however, forgetting those who were responsible for this disgraceful page in the nation's history.

    In its own message, the main opposition New Democracy party stressed the necessity to modernise democratic fundamentals.

    "Today, it is an achievement for all of us to have consolidated and defended in all aspects our democratic regime. However, we need to realise that democracy and democratic institutions require a constant struggle..." the ND message added.

    Athens News Agency

    [04] Joint Turkey-Europarliament Committee session begins

    ISTANBUL 22/04/1998 (ANA - A. Kourkoulas)

    The 42nd meeting of the joint Parliamentary Committee between Turkey and the European Parliament began its sessions in Ankara.

    The president of the Turkish delegation at the joint Committee, Bulent Akarzali, reiterated Turkey's complaints over the decision taken in Luxembourg late last year in regard to Ankara's EU course and called for the full implementation of agreements con cerning Turkey's customs union with the European Union.

    Greek Eurodeputy Anna Karamanou (PASOK), who is participating in the session, called on her Turkish interlocutors to also think of the need for "self-criticism" in connection with the course of Turkey's relations with the EU.

    Greek Eurodeputies Costas Hatzidakis (New Democracy) and Nikitas Kaklamanis (Political Spring) are also participating in the joint committee.

    In another development, Turkish Deputy Prime Minister Bulent Ecevit said that "accession (to the European Union) constitutes a right emanating from history, geography and agreements."

    Mr. Ecevit, who was speaking after his talks with members of the joint Parliamentary Committee, said that Turkey is annoyed with its exclusion from Europe, but the world is not only Europe.

    Mr. Ecevit discussed with Committee members issues such as relations with Greece and the Cyprus issue, which the Turkish side is refusing to register in the agenda of the 42nd meeting.

    Athens News Agency

    [05] AEK Athens in the Euroleague final

    BARCELONA 22/04/1998 (ANA)

    The AEK Athens basketball team yesterday defeated Italy's Benetton Treviso during the semi-final match here for the European Champions' League. AEK won 69-66 in a close game, sending AEK to Thursday's final against Kinder Bologna, which earlier defeated Belgrade's Partizan by 83-61.
    Athens News Agency

    [06] World Earth Day celebrated today

    Athens 22/04/1998 (ANA)

    As environmental problems are increasing and becoming more universal, World Earth Day is celebrated around the globe today, providing for an insight into the need to protect the environment and implement sustainable development for the entire planet.

    In a message to mark the occasion, Environment, Town Planning and Public Works Undersecretary Theodoros Koliopanos underlined the need for efforts to boost economies in order to take into consideration two major preconditions to achieve sustainability.

    One of them, said Mr. Koliopanos, "relates to social justice, so that development can provide employment and humane conditions for life and work, irrespective of people's nationality and sex".

    The other precondition, marked by the World Earth Day, according to the undersecretary, regarded the use of natural resources in order to preserve the planet's natural heritage intact for the next generations.

    "Without these preconditions, development for the human species has no meaning", he said.

    The World Wildlife Fund - Hellas (WWF) organisation also issued a message, saying that Greece was also celebrating, as it was a unique country in terms of its wide environmental variety.

    However, WWF said that for the organisation World Earth Day occurs every day of the year, as it works for the protection of the earth, as well as for solutions to protect the environment through comprehensive programmes. These programmes and solutions, WWF said, required support and active participation by citizens.

    Athens News Agency

    [07] Four men missing in boating accident

    Athens 22/04/1998 (ANA)

    Three Canadian nationals and a Greek priest were missing after their vessel capsized during a sudden storm off the Halkidiki peninsula in northern Greece, the merchant marine ministry said yesterday.

    A ministry spokesman said the Canadians - identified as Roger Richer, 49, his brother Gerald, 39, and Alvin Guesnel, 44 - as well as 35-year-old Priest Panayiotis Spagos and Alkiviades Kefalas, 34, went fishing Monday evening in a small boat, the Samiopoula.

    The last man, who managed to swim to shore, told police that he saw the four others swimming next to him after the boat overturned near Marmari, Halkidiki. He swam for several hours before being picked up by a trawler as he approached the coast, but the four other men had disappeared.

    Coast guard vessels, a Hellenic Air Force plane, helicopters and fishing vessels mounted a search of the area early Tuesday.

    Later reports said the three Canadians were working for TVX Hellas, the subsidiary of the Canadian gold mining company which received a mining concession in the area.

    Athens News Agency

    [08] 5th Mediterranean Forum ends on Spanish isle

    MADRID 22/04/1998 (ANA)

    A two-day, 11-nation Mediterranean Forum's 5th ministerial conference ended yesterday in Palma de Mallorca.

    Security and stability around the Mediterranean, the peace process in the Middle East, terrorism, economic cooperation and development, the funding of programmes through MEDA and the promotion of social and cultural relations of the Mediterranean countries were the issues discussed at the conference.

    Foreign Ministry secretary general for European Affairs Stelios Perrakis represented Greece in this conference.

    The forum is an informal organisation of Mediterranean countries consisting of Spain, Portugal, France, Italy, Greece, Morocco, Algeria, Tunisia, Egypt, Turkey and Malta.

    Athens News Agency

    [09] PSECA programme for fishing, fish farms

    Athens 22/04/1998 (ANA)

    The deadline for submitting proposals within the European Union's PSECA programme for fishing and fish farms ended on March 31, with a total of 530 applications recorded.

    The programme will fund 50 to 70 per cent of 12 different activities concerning commercial fishing and fisheries, including alternative tourism.

    Final selection of proposals for subsidisation will be completed by the end of June.

    Athens News Agency

    [10] Medical journal highlights risks from smoking

    Athens 22/04/1998 (ANA)

    More than half a million people die from smoking-related diseases each year, according to a paper in this month's European Respiratory Journal.

    The article, which brings together research from across the European Union, also states that lung cancer in women has increased fourfold over the past 30 years. This is almost entirely due to their increase in tobacco use.

    On the eve of today's EU vote to ban tobacco advertising across Europe, Prof. Charis Roussos, president of the European Respiratory Society, highlighted research which details what the group says is the tobacco industry's tactics to lure young children into smoking.

    Prof. Roussos, in a press release from Athens yesterday, said:

    "Banning tobacco advertising is essential for reducing the risk of more children taking up this fatal habit. Cigarettes are more lethal than handguns, hard drugs, AIDS and car accidents combined. There is no question, tobacco advertising must be banned. "

    The ERS is lobbying the European Parliament to ensure that the proposed ban on tobacco advertising becomes law.

    Athens News Agency

    [11] Tzoganis on three-day Cyprus visit

    Athens 22/04/1998 (ANA)

    Greece's military chief begins a three-day visit to Cyprus today for talks with the island's political and military leadership, the first official visit by a Greek chief of staff to the divided island.

    Gen. Athanasios Tzoganis is scheduled to discuss the Greek Cypriot joint defence doctrine and to review developments in his meetings with Cyprus' defence establishment.

    He is also scheduled to meet with President Glafcos Clerides, Archbishop Chrysostomos, House Speaker Spyros Kyprianou and Defence Minister Yiannakis Omirou. He returns to Greece on Friday.

    Athens News Agency

    [12] ECOFIN council focuses on euro's introduction

    LUXEMBOURG 22/04/1998 (ANA - P. Pantelis)

    The Council of ECOFIN ministers focused here yesterday on preparation for the introduction of the euro, to be decided by the European Council over the first weekend in May.

    The issue concerns processes for the third stage of Economic and Monetary Union (EMU).

    Moreover, it includes three proposals by the Commission on practical issues regarding the circulation of the euro. Other issues discussed concerned the European capital market and support for small and medium-sized enterprises (SMEs), which are of parti cular interest to Athens.

    Greek positions were presented by National Economy Minister Yiannos Papantoniou.

    A proposal by the Commission on the European capital market was discussed, which anticipates its funding of various bodies with business funds, as well as insurance funds. The purpose of the proposal is to generate capital at a reduced cost. He said that Greece supports the proposal and the programmes.

    The amount of 450 million Ecu is anticipated for the initiative concerning support for SMEs, which favours an increase in employment. Macroeconomic aid proposed by the Commission for Albania and Bosnia-Herzegovina was also discussed. The amount of 20 mi llion Ecu is anticipated for each country.

    Mr. Papantoniou said that at the extraordinary European Council, scheduled for May 1-2, the issue of Greece can also be raised, which is seeking confirmation that EMU criteria on its future accession to the euro will be assessed in a way with which they were assessed for the first 11 member- states of the euro.

    Athens News Agency

    [13] Swiss investigation finds Roussel allegation over kidnap plot baseless

    Athens 22/04/1998 (ANA)

    The Onassis Foundation yesterday released a statement citing a decision by a Geneva public prosecutor who found allegations by Thierry Roussel regarding attempted kidnapping plots targetting his daughter Athina, the primary heir to the huge Onassis fortune, completely baseless.

    "...the malicious accusations of Roussel about the alleged attempted kidnapping of Athina have also been proven, as expected, false and the entire case has been placed on file," a statement read

    "By decision of the Public Prosecutor of Geneva, dated 17 April 1998, and communicated to the Supervising Authority of the Guardianship Authority of the Oberengadine, namely, the District Court of Maloya, the malicious accusations of Roussel about the a lleged attempted kidnapping of Athina have also been proven, as expected, false and the entire case has been placed on file," the announcement from the Greek members of the Onassis board added. A translation of a ruling by Public Prosecutor General Jean- Louis Crochet read:

    "In view of these elements I have decided today to place the case on file for lack of sufficient evidence. This decision may be appealed before the Panel of Judges within ten days of its notification. I shall keep you informed of developments.

    "The referenced criminal procedure which has been communicated to our authority on 6 April 1998 has established with certainty that no project or plan has been conceived for the kidnapping of Athina Roussel," he said.

    "On the contrary the investigation has proven that Messrs Papadimitriou, Ioannidis, Zabelas and Gabrielides have been mindful of the security of the minor immediately after the death of her mother by taking an insurance cover against the risk of kidnapping, namely, the payment of ransom," Mr. Cochet added.

    Athens News Agency

    [14] CoE's Human Rights Commission to consider part of ex-king's complaint

    STRASBOURG 22/04/1998 (ANA)

    The European Human Rights Commission of the Council of Europe (CoE) held a hearing yesterday on the admissibility and merits of a complaint brought by ex-king Constantine and eight members of his family regarding the confiscation of one -time royal property by Greece in May 1994.

    Following deliberations, the Commission - comprised of 19 members - declared admissible Constantine's complaint concerning the property issue, but at the same time rejected as inadmissible his petition regarding a requirement by the Greek state that as urname should be acquired and used by him and the members of his family as a condition of access to courts, and for continued recognition of their Greek nationality and passports.

    The Commission will now consider the merits of the petition and place itself at the disposal of the parties with a view to achieving an amicable settlement of the matter on the basis of respect for human rights. If it succeeds in effecting a amicable se ttlement, then the Commission will prepare a report to the Committee of Ministers of the CoE, containing a breif statement of the facts and the solution reached.

    In the opposite case, if a solution is not reached, the Commission will draw up a report of the facts and state its opinion as to whether the facts disclose a breach by the Greek government of its obligations under the Convention.

    The report will be transmitted to the Committee of Ministers, which will decide on the matter, unless the case is referred to the European Court of Human Rights by the Commission or the Greek government.

    After the announcement of yesterday's decision, the ex-king issued a statement saying: "The Commission's decision to allow our case to go forward is a great victory not only for me and my family, it is a great victory for the European rule of law and fo r the effective protection of human rights in Greece."

    Venizelos : On his part, Culture Minister and constitutional law expert Evangelos Venizelos, who had proposed legislation to settle "the royal property issue", said that the entire Greek people were aware of the fact that the relevant law of the Greek state was not a gainst any member of the ex-royal family and was neither of a personal or economic nature.

    The minister added that in Greece, as in other countries as well, the fate of the royal property was left up to the people to take the final decision by voting for the political system of their choice.

    "The insistence exhibited by certain people to regard the specific issue as a mere property or private issue, showed lack of respect for the nation's history..." he said.

    Athens News Agency

    [15] Stephanopoulos on official visit to Hungary

    Athens 22/04/1998 (ANA)

    President of the Republic Kostis Stephanopoulos is set to leave for a three- day visit to Hungary today at his Hungarian counterpart's invitation. The Greek president will hold private talks with Hungarian President Arpad Goncz and other leaders, while he will also inaugurate a Greek-Hungarian business conference.

    Mr. Stephanopoulos' discussions are expected to include bilateral relations and Budapest's application to join Euro-Atlantic structures, which Athens supports.

    Mr. Stephanopoulos will also visit the ethnic Greek village of Beloyiannis and will address the country's Parliament.

    Athens News Agency

    [16] Festival on Thassos

    Athens 22/04/1998 (ANA)

    The small town of Limenaria on the island of Thassos revived an ancient bacchic tradition yesterday during the "April Rain For Me" festival.

    According to cultural society spokesman, the festival is centred around the prayer and litany of saints' icons in order for rain to come, thus signalling the beginning of the cultivating season.

    The spokesman explained that 11 local men carry icons out the of the church of Agios Georgios after the end of a short mass, while the children of the cultural society sing "April rain for me" song, creating a festive atmosphere for tourists and locals.

    Athens News Agency

    [17] Dozens of foreign inmates transferred from Korydallos

    Athens 22/04/1998 (ANA)

    Some 45 foreign inmates at Korydallos prison, considered the instigators of Monday evening's riot, were transferred yesterday to other jail facilities around the country.

    According to press reports, two Greek inmates were the uprising's ringleaders.

    Police said inmates rioted in an effort to escape, with riot squads subsequently intervening.

    Athens News Agency

    [18] F-5B crashes, pilots safely eject

    Athens 22/04/1998 (ANA)

    A training jet crashed yesterday near Kavala, northern Greece, although its two-man crew ejected safely.

    According to reports, the two-seater F-5B crashed at 1:25 p.m. three miles east of Chryssoupoli, with its pilot and co-pilot parachuting to safety. The pilots were picked up by rescue units and transported to a military hospital.

    The Air Force's General Staff (GEA) later announced that the accident was caused by a flock of birds, which hit and broke the jet's canopy, while some were sucked into its engine air intakes, causing a stall.

    Athens News Agency

    [19] Greek stocks hit new record, jump 7.32 pct

    Athens 22/04/1998 (ANA)

    Greek equities hit another record yesterday after the four-day Orthodox Easter holiday.

    Traders said the market welcomed last week's news of a merger between state National Bank of Greece and its subsidiary Mortgage Bank, further expanding the country's largest banking group.

    Buying focused on the banking sector which showed most share prices hitting the day's 8.0 percent limit up with the exception of Macedonian-Thrace Bank and Mortgage Bank.

    The general index soared 7.32 percent to end at 2,627.90 points. Analysts expect the market to test the 3,000 level soon.

    Trading was heavy with turnover at 100.1 billion drachmas. Sector indices scored gains.

    Banks rose 7.43 percent, Insurance ended 6.44 percent up, Investment increased 7.65 percent, Leasing was 3.54 percent higher, Industrials rose 7.27 percent, Construction was 7.21 percent up, Miscellaneous rose 4.96 percent and Holding increased 7.33 per cent.

    The parallel market index for small cap companies rose 6.61 percent.

    The FTSE/ASE 20 blue chip index soared 7.51 percent to 1,569.30.

    Broadly, advancers led decliners by 250 to 13 with another 8 issues unchanged.

    National Bank of Greece, Ergobank, Commercial Bank, Ionian Bank, General Bank, Alpha Credit Bank, Hellenic Telecommunications Organisation, Heracles Cement, Titan, Hellenic Bottling and Altec scored the biggest percentage gains.

    General Warehouse, Athinea, Ippotour and Thessaliki suffered the heaviest losses.

    National Bank of Greece ended at 50,112 drachmas, Ergobank at 28,350, Alpha Credit Bank at 29,160, Delta Dairy at 4,822, Titan Cement at 27,864, Intracom at 20,900 and Hellenic Telecommunications Organisation at 10,152 drachmas in heavy volume of 1,500 ,000 issues.

    Athens News Agency

    [20] Tax squad finds barrage of offences in March swoop

    Athens 22/04/1998 (ANA)

    The financial crimes squad reported yesterday that it found 2,649 cases of tax evasion in the north of the country during raids it carried out in March.

    The squad, which belongs to the finance ministry, said that in 617 cases businesses had failed to issue sales receipts endorsed by tax authorities; in eleven, no invoices were issued; 57 enterprises failed to keep books; 33 kept two sets of books; 27 li quid fuel outlets issued no distribution invoices; and in 249 cases no tickets were issued for entry to night clubs.

    The financial crimes inspectors have been ordered to step up their on-the- spot checks.

    Athens News Agency

    [21] International lawyers Clyde & Co open office in Piraeus

    Athens 22/04/1998 (ANA)

    International lawyers Clyde & Co. have opened an office in the port of Piraeus, reflecting the importance of Greece as a centre for shipping, the firm said in a statement yesterday.

    The new Piraeus office is headed by Martin Hall, a specialist in salvage, collision and casualty work who has many years of experience acting for Greek owners. Mr. Hall will be supported by five colleagues with a Greek portfolio, a local lawyer and a ship's master.

    The office hopes to serve the firm's shipping contacts in Greece and throughout the eastern Mediterranean.

    Clyde & Co. specialises in trade, shipping, insurance and reinsurance, transport, energy, corporate and financial matters.

    The addition of Piraeus brings the firm's number of offices worldwide to 10.

    The other offices are located in the UK, Paris, the Far East, Middle East and Latin Ameria with an associate office in St. Petersburg.

    Athens News Agency

    [22] Greek shipper gets ISO environmental certificate

    Athens 22/04/1998 (ANA)

    A Greek shipping company has become the first major ship operator in the world to gain the new ISO 14001 environmental quality standard, a spokesman for ABS Quality Evaluations, an affiliate of the American Bureau of Shipping (ABS), told the Athens News A gency yesterday.

    Piraeus-based Ceres Hellenic Shipping Enterprises Ltd, operates a fleet of tankers, bulk carriers and inter-island ferries totalling five million deadweight.

    The firm already holds the ISM and ISO 9000 certificates. Its former chairman, George P. Livanos, was a lifelong advocate of clean seas and environmental protection until his death in 1997.

    Mr. Livanos was also the founder of the Hellenic Marine Environment Protection Association (HELMEPA), the Greek-based organisation which pioneered maritime environmental awareness within the Mediterranean region.

    Athens News Agency

    [23] Greek farm minister questions EU's tobacco policy

    Athens 22/04/1998 (ANA)

    Agriculture Minister Stephanos Tzoumakas yesterday criticised the European Union's policy on tobacco saying it was ironic to promote support for tobacco growers, at the same time opposing smoking.

    Speaking at an EU farm council meeting in Luxembourg to discuss the Agenda 2000 programme for the bloc's eastward expansion,Mr. Tzoumakas said that if Europe really wanted to reduce smoking it had to take measures to shrink its tobacco industry.

    Turning to olive oil, he rejected a Commission proposal to freeze EU spending at 1992 levels.

    Greece and Italy agreed that a lasting reform plan for the sector should be agreed as soon as possible. Spain sought to delay agreement on the plan, apparently to reap the benefits of substantial investments in the olive oil industry.

    Athens News Agency

    [24] Greece launches new bond trading market tomorrow

    Athens 22/04/1998 (ANA)

    Greece is to launch an electronic secondary trading market tomorrow for fixed-income securities.

    Eligible for trade on the market at 10.00-14.00 local time on Monday-Friday, are the following:

  • Greek state drachma bonds
  • Corporate bonds
  • Bonds issued by international organisations
  • Greek state bond loans

    In the first phase of operation only paper securities will be traded, and in the second phase, securities in purely electronic form.

    Brokerages and banks will trade in the market, whose creation is expected to boost turnover in fixed-income securities and spur the switch away from paper form.

    Athens News Agency

    [25] Greece's Citibank announces forex loan account rates

    Athens 22/04/1998 (ANA)

    Citibank in Greece yesterday announced its weekly adjustment to base rates on loan accounts in foreign exchange.

    The rates are as follows:

  • US dollar, 9.04 percent
  • Yen, 4.01 percent
  • DMark, 7.01 percent
  • Ecu, 7.62 percent
  • Guilder, 6.98 percent
  • French franc, 6.98 percent
  • Swiss franc, 10.85 percent
  • Belgian franc, 7.14 percent
  • Italian Lira, 8.52 percent

    Athens News Agency

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