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Athens News Agency: Daily News Bulletin in English, 98-12-09

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] Simitis calls on business leaders to restrict prices
  • [02] Tsohatzopoulos details Athens' positions vis-a-vis nuclear weapons
  • [03] Holbrooke due here on Monday
  • [04] Tsohatzopoulos, Kranidiotis at ESP meeting in Brussels
  • [05] Karamanlis at EPP meeting in Vienna
  • [06] Pangalos focuses on Kosovo, Bosnia during address at NATO session
  • [07] Athens pleased with General Affairs Council decision on candidates- countries
  • [08] Austrian EU presidency: Turkey not invited to Vienna summit
  • [09] Gov't satisfied with way WWII reparations issue handled
  • [10] Prosecutor favours perjury, slander convictions for Roussel
  • [11] Civil aviation employees on strike
  • [12] Stephanopoulos: Halki's reopening will aid Greek-Turkish relations
  • [13] Combined rallies students-teachers throughout Greece
  • [14] Poll: ND leads PASOK by 6.5%, Christodoulos the most popular public figure
  • [15] State telecom gets acting managing director
  • [16] Papoulias elec ted chairman of Parliament foreign affairs, defence committee
  • [17] Venizelos: Museum director will be reinstated if investigation exhonerates her
  • [18] Seminar on EU criteria for asylum
  • [19] Greeks' health constantly worsening
  • [20] 'One-stop shop' for pensioners
  • [21] Minister promises solutions to local gov't finances
  • [22] Rate plunges over 2.0 points in 6M treasury bill auction
  • [23] Greece able to meet any new global crisis, cenbank says
  • [24] US ambassador says Greece on verge of EMU entry
  • [25] Stocks nose down, hold 2,500-point barrier
  • [26] Domestic banks aim to expand in Balkans
  • [27] Farmers rally in Larissa
  • [28] The protest broke up peacefully after a two-hour vigil.
  • [29] Athens Foreign Exchange
  • [30] Seaside districts' residents decry gov't plans for area development
  • [31] Int'l seminar on children's television in Thessaloniki

  • [01] Simitis calls on business leaders to restrict prices

    Athens 09/12/1998 (ANA)

    Prime Minister Costas Simitis called on business people and self-employed professionals to voluntarily restrict price hikes, if not dropping prices, in order to show an overall responsible attitude within the framework of cutting inflation. He was speak ing at a dinner last night with which the Hellenic American Chamber of Commerce's two-day conference at downtown Athens hotel concluded.

    "We can predict with certainty that Greece will be the 12th member of Economic and Monetary Union (EMU) in 2001," Mr. Simitis said.

    However, he said that "the positive omens must not mislead us" since, as he noted, "considerable uncertainties are lurking on the international scene and world developments are not under control."

    In this context, he said that the government will always be vigilant and will continue to decline the "easy way of compromises from which we would obtain easy political gains at the expense, however, of the country's overall interests."

    "We have achieved a great deal. We are now a country which has regained its self-confidence and faced two international crises in a period of a few months, maintaining its basic course steady," he said and placed emphasis on the fact "that despite the tediousness of the adjustment process, the country succeeded in maintaining the cohesion of society."

    Mr. Simitis further spoke of "delays and weaknesses" in the government's work, which he determined in the sectors of daily security, transport, health, relations between the state and the citizen and the quality of day- to-day life. He said they were sec tors in which "we want to speed up our efforts."

    "Society which is judging us would desire more ambitious results," he conceded and spoke of "a distance between reality and social expectation which lies at present, and will lie for the period until the elections in 2000, at the focal point of the gove rnment's effort."

    Mr. Simitis also referred to the country's progress in the field of social policy, saying that there is "an unquestionable social convergence with the European Union countries. The distance which existed has been drastically reduced."

    He called on business people and the cadres of Greek companies to prepare themselves in a multiple way for the upcoming introduction of the euro, whose advantages he described analytically so that "the possibility will not be given to your competitors to emerge comparatively stronger."

    Mr. Simitis referred once again to the upcoming tough negotiations with the European Union's powerful countries which desire a restriction of EU funds concerning Common Agricultural Policy and the Structural Funds.

    "It is not possible for such a thing to be accepted by our government," he said.

    Lastly, Mr. Simitis referred to development policy in favour of small and medium-size enterprises, giving as an example the strengthening of business clusters by the state.

    Athens News Agency

    [02] Tsohatzopoulos details Athens' positions vis-a-vis nuclear weapons

    NEW DELHI 09/12/1998 (ANA - M. Savva)

    Greece, unlike other NATO and EU member-states, takes a clear position against nuclear weapons, visiting National Defence Minister Akis Tsohatzopoulos said here yesterday, adding that this was a matter of principle and a polit ical stand.

    Concluding his official visit to India, during which he met with the country's prime minister and political leaders, Mr. Tsohatzopoulos told reporters that an announcement by Turkey with regard to its next moves in the nuclear arena was merely a matter of time, hinting at the construction of a nuclear plant in Akkuyu, southeast Turkey.

    "Greece says no to nuclear power and nuclear weapons,"he said, but added that this was not a reason for complacency.

    "We are aware, we monitor and we should be ready to deal with the situation", Mr. Tsohatzopoulos said, recalling that Greece was the first country to sound the alarm when Pakistan went ahead with nuclear tests.

    Indian Defence minister George Fernandes said that his country indented to endorse the treaty on a total ban of nuclear arms, while he assured his Greek countrepart that India committed itself not to be the first to use nuclear weapons.

    Talks between the two men centred on a memorandum of understanding on defence matters, which sets the grounds for a bilateral military and defence cooperation, as well as regular contacts on regional and world security matters.

    Mr. Fernandes also discussed security needs that forced India to go ahead with scheduled nuclear tests last May.

    Athens News Agency

    [03] Holbrooke due here on Monday

    Athens 09/12/1998 (ANA)

    Richard Holbrooke, the special US mediator on the Cyprus issue, will be in Athens on Monday, government spokesman Dimitris Reppas said yesterday.

    The visit to Athens is part of Mr. Holbrooke's tour of the region. He is also expected to visit Ankara and Nicosia.

    Mr. Reppas said it was positive that the international community was showing a "lively interest" in the resolution of the Cypriot issue and added that this should move in the framework defined by the United Nations.

    Athens News Agency

    [04] Tsohatzopoulos, Kranidiotis at ESP meeting in Brussels

    Athens 09/12/1998 (ANA)

    National Defence Minister Akis Tsohatzopoulos and Deputy Foreign Minister Yiannos Kranidiotis will represent the ruling PASOK party at today's joint meeting of the European Socialist Party's (ESP) presidium and its manifesto preparation committee in Brussels.

    The meeting will be chaired by British Foreign Secretary Robin Cook and will focus on the manifesto's text in light of the 1999 Euro-elections, as amended by the ESP's party-members.

    Other issues to be examined are the preparation of the ESP's congress, to be held in Milan in early May, as well as issues concerning Euro-election strategies.

    Mr. Tsohatzopoulos will participate in today's meeting in the capacity of ESP Deputy President and Mr. Kranidiotis as a member of the manifesto's preparation committee.

    Athens News Agency

    [05] Karamanlis at EPP meeting in Vienna

    Athens 09/12/1998 (ANA)

    Main opposition New Democracy leader Costas Karamanlis will leave for Vienna today to attend the European Peoples Party's (EPP) summit tomorrow.

    Mr. Karamanlis will be accompanied by ND's foreign affairs representative Vassilis Manginas, ND deputy Marietta Yiannakou-Koutsikou, I. Vallinakis and the party's spokesman Aris Spiliotopoulos.

    Athens News Agency

    [06] Pangalos focuses on Kosovo, Bosnia during address at NATO session

    BRUSSELS 09/12/1998 (ANA - M. Spinthourakis)

    NATO's winter session of foreign ministers opened here yesterday with issues focusing on the situation in Bosnia, Kosovo and the shaping of the alliance's internal and external structure.

    Foreign Minister Theodoros Pangalos, speaking on the Kosovo issue, reiterated Athens' standing positions, underlined that a solution should be found based on expanded autonomy for the mainly Albanian-speaking Serbian province but within the borders of Yugoslavia, while pressure should also be put on the rebels' Kosovo Liberation Army.

    Mr. Pangalos said he also referred in his address to problems Greece was facing as a result of arms and drugs smuggling emanating from the "Albania- Kosovo-Tetovo" triangle.

    Referring to the alliance's expansion, Mr. Pangalos made it clear that Greece was strongly in favour of the inclusion in the next phase of southeastern European states having strong ties with NATO, such as Bulgaria and Romania.

    He further stressed that expansion should be effected on the basis of the alliance's principles, such as the democratic operation of government, democratic control of the armed forces, respect for human rights and solution of disputes by peaceful means.

    Describing German Foreign Minister Joschka Fischer's position on preventing the proliferation of nuclear weapons as particularly important, Mr. Pangalos underlined that Greece wanted NATO to examine the proliferation of nuclear weapons by its own member -states.

    Yesterday's session approved of a number of reports on the Partnership for Peace programme, activation of the Euro-Atlantic Cooperation Council and the promotion of Mediterranean dialogue.

    Athens News Agency

    [07] Athens pleased with General Affairs Council decision on candidates- countries

    Athens 09/12/1998 (ANA)

    Athens yesterday welcomed a decision by the European Union's General Affairs Council, namely, that Turkey will not join the 11 EU candidate- countries invited to a two-day EU summit in Vienna on Friday.

    Monday's decision by the European Union's General Affairs Council in relation to the Union's relations with Turkey "is very close to the Greek position," government spokesman Dimitris Reppas said.

    Austrian Foreign Minister Wolfgang Schuessel told a news conference that the current lack of a government in Ankara made an invitation difficult.

    Asked whether the issue would be raised again at the Vienna EU summit, Mr. Reppas said the summit would show how the government defends national interests.

    Asked about a comment attributed to Alternate Foreign Minister George Papandreou that Greece could consider release of EU funds for Turkey on the condition that they would be destined for the southern Turkish areas to improve the quality of life for the Kurds and establish human rights, Mr. Reppas said Mr. Papandreou had been speaking in a personal capacity and that his comments were not binding on the government.

    He added, however, that if there were some form of control over these resources the issue could be further discussed.

    Athens News Agency

    [08] Austrian EU presidency: Turkey not invited to Vienna summit

    VIENNA 09/12/1998 (ANA - D. Dimitrakoudis)

    An Austrian foreign ministry spokesman officially announced yesterday that Turkey will not ultimately be invited to the European Union's summit, scheduled here on Friday and Saturday.

    The spokesman confirmed that apart from Greece, Italy and Germany were against an invitation towards Turkey by the Austrian EU presidency at the upcoming Vienna summit during marathon consultations between the 15 FM in Brussels on Monday night.

    Earlier, Austrian Foreign Minister and the EU's Council of General Affairs Ministers President Wolfgang Schuessel had clarified that during its meeting on Monday the Council had taken no decision on inviting Turkey to Vienna. He let it be clearly unders tood that due to the formation of a new government in Ankara, Turkey could not even be on the list of countries invited to the summit.

    In an interview with the Austrian News Agency APA yesterday, Austrian Chancellor and EU President Viktor Klima said in relation to Turkey that the European Council will analyse the European Commission's recent report on Turkey. However, Mr. Klima does not believe that the issue of the Kurdish Workers' Party (PKK) leader Abdullah Ocalan will overshadow the Vienna summit.

    Turkey's absence from Vienna appears to have been a fact several days ago.

    Athens News Agency

    [09] Gov't satisfied with way WWII reparations issue handled

    Athens 09/12/1998 (ANA)

    The government announced that is was satisfied with the way the issue of the compensation for victims of the Nazi occupation of Greece was handled during Monday's meeting between PM Costas Simitis and German Chancellor Gerhard Schroeder.

    Government spokesman Dimitris Reppas said yesterday that Greece had not suffered any defeat in broaching the issue. "The issue is on the table and will occupy both sides in the future," Mr. Reppas said.

    Athens News Agency

    [10] Prosecutor favours perjury, slander convictions for Roussel

    Athens 09/12/1998 (ANA)

    An Athens misdemeanor court prosecutor yesterday called for French national Thierry Roussel to be found guilty of perjury, false accusations and slander charges brought against him.

    The father of 14-year-old Athina Onassis Roussel, heir to the vast Onassis shipping fortune, is standing trial after he was sued by the president and three members of the Onassis Foundation.

    Prosecutor Ioannis Diotis said Mr. Roussel was aware he was making untrue claims in a complaint he filed two years ago, accusing the Onassis Foundation board of mismanagement. Another court dismissed Mr. Roussel's complaint earlier this year.

    If convicted of the misdemeanor charges, Mr. Roussel faces a maximum of up to five years jail on each count.

    However, it is unlikely that he would spend any time in jail as, under Greek law, the sentence can be bought out.

    The trial will end after the defence makes its closing arguments.

    Athens News Agency

    [11] Civil aviation employees on strike

    Athens 09/12/1998 (ANA)

    The Federation of Civil Aviation Employees' Unions (OSYPA) yesterday announced a 24-hour strike today, protesting the merger of their supplementary pension fund with other pension funds.
    Athens News Agency

    [12] Stephanopoulos: Halki's reopening will aid Greek-Turkish relations

    ISTANBUL 09/12/1998 (ANA - A. Kourkoulas)

    President of the Republic Kostis Stephanopoulos yesterday noted that the reopening of the Halki School of Theology can greatly contribute to an improvement of Greek-Turkish relations.

    Mr. Stephanopoulos, referring to the Ecumenical Patriarch Vartholomeos during an interview with a local ethnic Greek publication, said "Orthodoxy is today headed by a great personality with a multitude of talents and merits," adding that "the Ecumenical Patriarch has gained international respect and general high esteem".

    "Greece, as an Orthodox country, is proud of the great honour enjoyed by the Ecumenical Patriarch...and Turkey could claim part from this honour and recognition, if it so desired".

    Regarding the Greek minority in Istanbul, the president said that "despite the difficulties it is facing it will continue to exist..."

    Regarding the Halki Academy, Mr. Stephanopoulos stressed that its reopening "can greatly contribute to a new wind blowing in Greek-Turkish relations."

    Athens News Agency BRUSSELS 09/12/1998 (ANA - P. Pantelis)

    A third dialogue between Orthodox churches and Christian Democrat Eurodeputies concluded here yesterday.

    Ecumenical Patriarchate representative Ieremias as well as Eurodeputies noted that discussions were important in building mutual understanding.

    Athens News Agency

    [13] Combined rallies students-teachers throughout Greece

    Athens 09/12/1998 (ANA)

    Students and teachers will hold combined rallies throughout Greece today, in the latest of a series of protests against the education ministry's recently announced reforms. Teachers at high schools have called a 24-hour strike on the same day, while primary school teachers have called a two- hour walkout.

    Summary road blocks by students occupying school buildings are becoming a regular occurence in the greater Athens area. Yesterday, students at a Vouliagmeni-area school closed down one of the main thoroughfares into the city, Vouliagmenis Avenue, shouti ng slogans against the reforms.

    Shortly afterwards, students from an Argyroupoli school blocked another main road. In Tavros, west Athens, students from local high schools shut down busy Pireos Avenue, which links Piraeus to Athens, for an hour. Traffic chaos ensued.

    In Thessaloniki, technical students closed down the junction in the city's industrial zone for an hour.

    Meanwhile a sudden rash of occupations of schools in Thessaloniki was also noted, just a week before schools officially shut down for the Christmas break.

    Reports said more than 70 schools in the Thessaloniki prefecture were under occupation. Local students have planned road blocks for Dec. 10 and 11.

    Students, teachers and parents are protesting against a number of issues, including teacher shortages, education ministry changes to grading and examinations at the primary, secondary and tertiary levels, the introduction of open university-type program mes and changes to procedures for appointing new teachers.

    Also the focus of discontent are budget allocations for education, private schooling and the prosecution of those involved in occupations or vandalism of school property.

    Gov't : Government spokesman Dimitris Reppas said earlier yesterday that the government would not back down on its insistence in implementing the reforms.

    "The government is discussing all possible improvements to the education reform but no proposals which water down their essence," Mr. Reppas said.

    "The government's antennae are open to receiving messages," he said, adding, however: "All the messages that have been sent to date have no substance and do not touch on the essence of education." "The reforms were voted through by the government after "mature discussion and study," he said. "This law will be applied."

    On his part, Education Minister Gerasimos Arsenis announced favourable hiring terms for substitute teachers, during an information session with Parliament's education committee.

    He also announced the tabling of new bills, which as he said will be complete educational reforms.

    Mr. Arsenis did not seem willing to discuss reactions to the reforms with deputies, despite repeated requests and threats they would walk out.

    "I will inform about the bills, which I will table, over the next few months. I am not willing to speak about the educational reforms, about which there has been discussions many times in the Parliament's plenum..."

    The minister's answer caused the strong reactions of deputies, especially from opposition parties.

    Athens News Agency

    [14] Poll: ND leads PASOK by 6.5%, Christodoulos the most popular public figure

    Athens 09/12/1998 (ANA)

    Another recently released poll yesterday had the main oposition New Democracy (ND) with a 6.5-per cent lead over ruling PASOK, while both major parties seem to have increased their strength.

    According to the poll by the firm MRB, 25.3 per cent of respondents said they would vote for PASOK; 31.8 per cent preferred ND; 5 per cent opted for Communist Party of Greece (KKE); 4.8 per cent for the Coalition for the Left and Progress (Synaspismos) ; 5.2 per cent the Democratic Social Movement (DHKKI) and 1.5 per cent would vote for Political Spring (Pol.An).

    Some 8.5 per cent of respondents answered that they would cast blank or void ballots.

    The MRB poll also showed that the percentage of undecided voters stands at 13.8 per cent.

    According to the poll, 28.6 per cent of respondents believe PASOK is better suited to deal with the country's problems, while 26.3 per cent thought the same of ND.

    As for the political leaders, the poll indicated that positive opinion for Prime Minister Costas Simitis stood at 31.4 per cent; ND leader Costas Karamanlis at 39.7 per cent; KKE leader Aleka Papariga at 14 per cent; DHKKI leader Dimitris Tsovolas at 46 .5 per cent and Synaspimos leader Nikos Constantopoulos at 46.5 per cent.

    The most popular public figures in Greece are Archbishop of Athens and All Greece Christodoulos, with 76.4 per cent; Athens Mayor Dimitris Avramopoulos with 71.3 per cent and President of the Republic Kostis Stephanopoulos, with 69.5 per cent.

    Athens News Agency

    [15] State telecom gets acting managing director

    Athens 09/12/1998 (ANA)

    Hellenic Telecommunications Organisation (OTE) said in a statement yesterday that board member George Skarpelis had been appointed as the state-run firm's acting managing director.

    Listed OTE's previous managing director, George Chrysolouris, resigned on Wednesday last week citing personal reasons.

    The communications ministry has proposed George Symeonidis, vice-president of London-based Inmarsat, as new managing director. The appointment has to be endorsed by parliament.

    OTE's policy of growth and investment at home and abroad remained unchanged, the statement said.

    Chrysolouris response : In a related devolopment last night, Mr. Chrysolouris issued a statement saying he remained at his post as managing director, citing his five-year contract with OTE.

    According to reports, the ministry of communications considers Mr. Chrysolouris' resignation as given, as two cabinet decisions were signed on Dec. 2 - one accepting his resignation and the other appointing Georgios Skarpelis to OTE's board of directors .

    Mr. Skarpelis was picked in order to assume the outgoing managing director's duties, while the two decisions were published in the Government Gazette on Dec. 3. OTE's board appointed Mr. Skarpelis as temporary managing director yesterday.

    Athens News Agency

    [16] Papoulias elec ted chairman of Parliament foreign affairs, defence committee

    Athens 09/12/1998 (ANA)

    Long-time PASOK deputy Karolos Papoulias was elected chairman of Parliament's foreign affairs and defence committee with 28 votes in a repeat ballot held last night.

    In a letter to the committee's members on Monday, Eleftherios Veryvakis had withdrawn his candidacy. Despite the withdrawal of his candidacy, he was voted by three deputies, while PASOK deputy Ilias Papadopoulos was elected deputy chairman with 27 votes and PASOK deputy Pantelis Economou was elected secretary with 24 votes.

    In all, 47 deputies voted (26 from ruling PASOK, 17 from the main opposition New Democracy, two from Coalition of the Left and Progress, one from Democratic Social Movement (DHKKI) and independent George Souflias). Mr. Veryvakis was absent as well as Orestis Kolozov and Stratis Korakas from the Communist Party of Greece (KKE).

    Athens News Agency

    [17] Venizelos: Museum director will be reinstated if investigation exhonerates her

    Athens 09/12/1998 (ANA)

    Culture Minister Evangelos Venizelos yesterday ordered an internal probe over the two-day closure of the Ancient Agora's museum because of a lack of employees.

    After a meeting with the archaeologists from the central Athens archaeological site, the minister agreed with their demand for an investigation, so as to exhonorate the director of the museum in case she was not at fault for the closure.

    Mr. Venizelos summarily sacked the museum's director following press reports that she ordered the closure of this central museum because of a lack of security guards and cleaning staff. If the investigation finds that the director was not at fault, the minister promised she would be reinstated.

    Athens News Agency

    [18] Seminar on EU criteria for asylum

    Athens 09/12/1998 (ANA)

    The public order ministry is organising a two-day seminar, set to begin tomorrow, on issues related to Dublin Treaty criteria for the granting of asylum in the European Union.

    EU member-states repersentatives of relevant authorities will participate at the "Zeus" seminars, which are funded by the Union.

    The goal of the seminar is an exchange of experiences on the issue and closer cooperation.

    Athens News Agency

    [19] Greeks' health constantly worsening

    Athens 09/12/1998 (ANA)

    The health of Greeks is going from bad to worse practically every year, while health indicators are also a cause for concern, scientists said on the occasion of the second national health education conference.

    Greece is the only developed country in the world in which deaths from cardiac diseases, cancer and accidents are constantly increasing, as neither the citizens nor the state show any interest in health, as stressed at a press conference yesterday by as sistant social medicine professor Yiannis Tountas. He added that from third position in life expectancy Greece dropped to eighth.

    He said that important factors creating health problems and shaping negative indicators are the increased number of smokers, pollution in internal spaces and environmental pollution. These factors also have a negative impact on fertility.

    According to research conducted in the country over the past 20 years by the Athens Biogenetics Centre, the volume of semen fluid did not decrease in men but sperm decreased by 43 per cent.

    Athens News Agency

    [20] 'One-stop shop' for pensioners

    Athens 09/12/1998 (ANA)

    The government yesterday inaugurated a "one-stop shop" for pensioners, saying that its success would be instrumental for the establishment of planned one-stop shops in other public services.

    Deputy Interior Minister Stavros Benos said the new pilot programme for the service would be available at four major branches of the Social Security Foundation (IKA), the country's largest social insurance agency.

    The service is scheduled to begin operating on March 1, 1999. Trained staff will be on hand to advise those with queries about pension issues and on which documents are required.

    IKA Deputy Governor Chryssoula Harisidou said the goal of the new programme was to cut waiting time for pensions by half, or about 45 days. At the moment, the average waiting period until pensions are issued is three months.

    Some 2,500 employees of IKA begin being trained on the new systems as of today.

    Athens News Agency

    [21] Minister promises solutions to local gov't finances

    Athens 09/12/1998 (ANA)

    Interior Minister Alekos Papadopoulos yesterday said that outdated legislation on local government finances has been revised and that a new law will be in place within the first half of 1999.

    Mr. Papadopoulos told local government officials during a conference in Athens that his ministry was proceeding with modernisation for the country's prefectures, which included the transfer of responsibilities to regional administrators.

    "The control on the legality of your actions...will be performed with added strictness and will be thorough," the minister said.

    Athens News Agency

    [22] Rate plunges over 2.0 points in 6M treasury bill auction

    Athens 09/12/1998 (ANA)

    The average weighted rate on six-month treasury bills auctioned yesterday plunged more than two percentage points to 10.46 percent from 12.58 percent in the previous sale on October 6, the finance ministry said.

    For sale were 60 billion drachmas' worth of paper with bids accepted totalling 70.2 billion drachmas out of a total of 247 billion drachmas offered in the heavily oversubscribed auction, the ministry said in a statement.

    The abrupt fall in rates indicated the market's eagerness for a decline with expectations fuelled by National Economy and Finance Minister Yiannos Papantoniou's statement on Monday that the central bank would slightly lower its intervention rates this week.

    Athens News Agency

    [23] Greece able to meet any new global crisis, cenbank says

    Athens 09/12/1998 (ANA)

    Greece is in a position to meet any fresh financial crisis that might erupt globally in 1999, central bank governor Lucas Papademos said yesterday.

    "The appearance of a new world financial crisis cannot be ruled out. But the Greek economy can successfully meet such an adverse development," Mr. Papademos told an economy conference held by the Hellenic American Chamber.

    At the same time, handling any crisis abroad entailed maintaining a tight fiscal policy, and a monetary policy whose safety margins would still allow the attainment of targets to lower inflation, he said.

    No country was invulnerable to crisis, but the right policy mix would minimise the repercussions.

    Greece, no longer an emerging market, would also achieve entry into European economic and monetary union as a result of the policy mix, Mr. Papademos said.

    The economy's vulnerability to any crisis lay in the public debt, much of which lay in the portfolios of institutional investors abroad.

    Any major portfolio restructuring stemming from market turmoil could lead to pressure on domestic capital and foreign currency markets, Mr. Papademos said.

    The greater the economy's alignment with the European Union's economy, the smaller the damage, he added.

    Helping to buffer the economy would be improvements to the state securities market through technology and achieving greater depth and breadth for markets.

    An acceleration in the decline of the inflation rate would fuel expectations of future interest rate cuts, in turn sharply boosting demand for fixed- income state paper, Mr. Papademos said.

    Athens News Agency

    [24] US ambassador says Greece on verge of EMU entry

    Athens 09/12/1998 (ANA)

    US Ambassador to Greece Nicholas Burns was optimistic yesterday about progress in the domestic economy, saying the country was on the verge of entering European economic and monetary union.

    "There are very positive changes taking place in Greece and the country is about to qualify for EMU," Mr. Burns told an economy conference held by the Hellenic American Chamber.

    He also said that the opportunity had come for a "rebirth" of Greek- American trade ties.

    "Trade and investment relations between the two countries are currently at a low ebb, although there has been especially positive growth in the current year," Mr. Burns said.

    Replying to a reporter's question, he said that the government was making every possible effort to attract American investments by creating a healthy business climate, and it had sent the right message to international markets.

    "The news is good for the Greek and American economies. Opportunities exist, and, with the contribution of all parties concerned, economic relations between the two countries will grow further," Mr. Burns said.

    Athens News Agency

    [25] Stocks nose down, hold 2,500-point barrier

    Athens 09/12/1998 (ANA)

    Equities finished slightly down on the Athens Stock Exchange yesterday in the wake of a surge in the previous session when the market discounted a drop in the central bank's money market intervention rate this week.

    The general index ended 0.16 percent lower at 2,566.73 points after Monday's 4.12 percent jump, still holding former resistance at 2,500 points. Monday's close was the highest since August 26.

    The market shed 1.0 percent early in the session only to recoup its losses later in trade with demand soaking up supply in an attempt to consolidate above 2,500 points.

    Trade was heavy with turnover slightly higher at 87.9 billion drachmas from 83.9 billion drachmas a day earlier, with 16,706,000 shares changing hands.

    Much of trade was window dressing for end of year books, traders said.

    The FTSE/ASE-20 blue chip index lost 0.80 percent to finish at 1,593.87 points.

    The parallel market for smaller cap stocks closed 1.12 percent lower.

    Sector indices mostly recorded losses.

    Banks nosed down 0.34 percent, Leasing dropped 1.60 percent, Insurance shed 1.04 percent, Investment crept up 0.02 percent, Construction fell 0.51 percent, Industrials gained 1.03 percent, Miscellaneous slipped 0.27 percent, and Holding dropped 0.31 per cent. Of 266 shares traded declines led advances at 133 to 106 with 27 unchanged.

    The most heavily traded stocks were Panafon, Metka, Bank of Piraeus and Eskimo.

    Panafon, the mobile phone operator that made its trading debut on Monday at 5,100 drachmas closed at 6,355 drachmas.

    Scoring the highest percentage gains were Eskimo, Kalpinis, Cambas, Boutaris, Ippotur, Daring, Levenderis, Vis and Hellenic Textiles.

    Posting the biggest percentage losses were Metrolife, Nimatemboriki, Development Invest, Mouzakis, Dimitriadis, Zamba, Konstandinidis, Intracom and Nafpaktos Spinning Mills. National Bank of Greece ended at 52,790 drachmas, Ergobank at 28,700, Alpha Cre dit Bank at 28,315, Ionian Bank at 14,250, Hellenic Telecommunications Organisation at 6,670, Delta Dairy at 3, 580, Intracom at 13,200, Titan Cement at 20,300, Hellenic Petroleum at 2, 320, Minoan Lines at 6,560, and Panafon at 6,355 drachmas.

    Athens News Agency

    [26] Domestic banks aim to expand in Balkans

    Athens 09/12/1998 (ANA)

    The strategic goal of most domestic banks is to expand in the Balkans, eastern Europe and the Black Sea region, Greek bankers told an economy conference yesterday held by the Hellenic American Chamber.

    Penetration of the new markets was already underway either through the creation of branch networks, the acquisition of existing networks or through alliances, the bankers said.

    Growth would also aid the transition of economies in the region to free market status, they said.

    Among the many speakers was National Bank of Greece deputy governor Nikos Karamouzis.

    State-run National Bank of Greece, a blue chip on the Athens bourse, has been a pioneer in developing business in the Balkans.

    Athens News Agency

    [27] Farmers rally in Larissa

    Athens 09/12/1998 (ANA)

    About 200 farmers and 64 tractors rallied amid pouring rain in Larissa yesterday to underline that they are prepared for a repeat of last year's road blockades and protests against the government's agriculture policies.

    "The crisis that farmers face is a tragedy entitled 'Black Days for Farming', starring Agriculture Minister George Anomeritis, directed by Prime Minister Costas Simitis and sponsored by the government," the president of the Federation of Democratic Farm Cooperatives, Christos Papadimitriou, told protesters.

    Yiannis Pattakis, the president of the Federation of Farming Cooperatives, warned farmers that their struggle would be long and hard and that they would have to once again block roads.

    The farmers' rally drew the support from local merchants, business leaders and students from the region.

    Athens News Agency

    [28] The protest broke up peacefully after a two-hour vigil.

    Athens 09/12/1998 (ANA)

    The government said on Monday that its position on problems in the agricultural sector was one of working out problems through dialogue and that it hoped there would be no rerun of last year's protests.

    Large-scale protests by farmers in 1997 - against new tax laws, in support of demands for cheaper fuel and higher prices for their products - caused unprecedented chaos in Greece, hampering road and rail transport between the north and south, preventing lorries from delivering vital supplies and on occasion forcing factories to shut down due to shortages of fuel and raw materials.

    The farmers are now demanding a higher production ceiling for cotton crops and government intervention in Brussels to prevent what they claim will be a 30 per cent reduction in cereal crop prices this year if the European Union does not alter its regulations.

    Athens News Agency

    [29] Athens Foreign Exchange

    Athens 09/12/1998 (ANA)

    Bank of Greece closing rates of: December 8, 1998

    Parities in Drachmas

    Banknotes            Buying  Selling
    US Dollar            278.732 285.195
    Can.Dollar           181.536 185.745
    Australian Dlr       172.410 176.407
    Pound Sterling       460.387 471.061
    Irish Punt           414.259 423.864
    Pound Cyprus         563.099 576.155
    Pound Malta          691.154 719.952
    Turkish pound (100)    0.081   0.084
    French franc          49.719  50.872
    Swiss franc          203.975 208.704
    Belgian franc          8.084   8.271
    German Mark          166.706 170.571
    Finnish Mark          54.897  56.170
    Dutch Guilder        147.947 151.377
    Danish Kr.            43.848  44.865
    Swedish Kr.           34.196  34.989
    Norwegian Kr.         36.853  37.707
    Austrian Sh.          23.699  24.248
    Italian lira (100)    16.839  17.230
    Yen (100)            233.527 238.941
    Spanish Peseta         1.964   2.010
    Port. Escudo           1.626   1.664
    
    Exchange             Buying  Selling
    New York             278.732 285.195
    Montreal             181.536 185.745
    Sydney               172.410 176.407
    London               460.387 471.061
    Dublin               414.259 423.864
    Nicosia              563.099 576.155
    Paris                 49.719  50.872
    Zurich               203.975 208.704
    Brussels               8.084   8.271
    Frankfurt            166.706 170.571
    Helsinki              54.897  56.170
    Amsterdam            147.947 151.377
    Copenhagen            43.848  44.865
    Stockholm             34.196  34.989
    Oslo                  36.853  37.707
    Vienna                23.699  24.248
    Milan                 16.839  17.230
    Tokyo                233.527 238.941
    Madrid                 1.964   2.010
    Lisbon                 1.626   1.664
    
    Athens News Agency

    [30] Seaside districts' residents decry gov't plans for area development

    Athens 09/12/1998 (ANA)

    Residents of the Athens coastal municipalities of Faliro and Glyfada stressed yesterday that a spate of construction projects projected for the 2004 Olympic Games would completely change, for the worse, Athens' seaside districts

    "Athens' coast front is being threatened with unprecedented destruction, since major tracts of land are being handed over to private interests, either through EOT (the National Tourist Organisation) or for Olympic Games and related installations," members of the Coordinating Committee to Save the Saronic Gulf said at a news conference.

    The committee is made up of representatives of conservation groups, ecological organisations and local agencies in the areas.

    The lead up to the 2004 Olympic Games will be definitive for the final shaping of such a valuable part of the city of Athens and the Attica basin, they said.

    They said the "grandiose" plans presented by various groups had prompted the question of whether the projects were in the interests of the city or a small group of investors.

    Projects planned for the area, they said, would entail paving and appropriation of private land for the equestrian centre and the creation of an artificial island and two marinas.

    Also in the pipeline for the Faliro seafront, they said, were plans for a new marina and the construction of an 11-storey hotel.

    They said government plans to change the public character of organisations such as EOT and the Organisation for the Management of Public Property (KED) had repercussions for the transparency of the management and sale of public land.

    Both EOT and KED manage or hold significant land holdings on the Attica seafront.

    They said that the plans were part of a wider tourism strategy that would wreak havoc on the marine ecosystem and increase the private character of land for the "privileged, affluent few" and deny access to the sea front to the wider public.

    Athens News Agency

    [31] Int'l seminar on children's television in Thessaloniki

    Athens 09/12/1998 (ANA)

    A one-day seminar on the subject of "Children and Audio-Visual Media" will take place in Thessaloniki on Dec. 19 at the initiative of the European Centre of Children's Television, in light of the third international conference on children's television in Thessaloniki in 2001.

    The meeting will be addressed toward teachers and lecturers, as well as to mass media professionals, with the aim being to build on the relationship between children and audio-visual means.

    At a press conference yesterday, organisers said that an incredible 82 per cent of children up to the age of 15 in Africa have never watched television. While this is not regarded as a necessarily negative aspect, it requires a large industry for the production of "proper" television programmes for children, as these Third World children will eventually at some point become "small screen consumers".

    The institution of an international conference on children's television was introduced in Australia in 1995.

    Athens News Agency

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