Athens News Agency: Daily News Bulletin in English, 99-03-09

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 confident of Greece's EMU entry

[02] Kranidiotis: Greece united, ready to deal with any Turkish threat

[03] G. Papandreou briefs KKE's Papariga

[04] Greek diplomat in Ankara temporarily detained by Turkish police

[05] Kaklamanis replies to Turkish assembly VP's attempt to tarnish Greek gov't

[06] Kranidiotis' talks with Poland's chief EU negotiator

[07] Greek envoy in US replies to latest Turkish claims

[08] Mitsotakis on Greek-Turkish relations, gov't handling of Ocalan affair

[09] Strong quake recorded in Ilia prefecture

[10] Gov't dismisses recent negative showings in opinion poll

[11] Evert on Greek-Turkish relations

[12] Commonwealth donation to PIKPA

[13] Karamanlis continues contacts in US

[14] US tank crews arrive in Litohoro

[15] Announcements regarding int'l women's day

[16] Greece's 1998 fiscal deficit meets EU convergence criterion

[17] Stocks jump in better sentiment

[18] Gov't mulling bill to tidy up OA's finances

[19] Moody's gets facts on Greek economy before review

[20] German tourists to Greece seen rising in 1999

[21] Themeliodomi to boost share capital

[22] Kokkalis interview on CNN programme

[23] Athens Foreign Exchange

[01] Simitis confident of Greece's EMU entry

Athens, 09/03/1999 (ANA)

Mr. Simitis was speaking after his meeting with President Kostis Stephanopoulos.

"The course of the economy is not about to be affected by the general climate," the prime minister said.

"All the indications are positive - inflation is falling and the general economic picture is positive."

Mr. Simitis told Mr. Stephanopoulos that, despite the difficult conditions, Greece would make all its targets, including EMU.

The prime minister also announced that German Chancellor Gerhard Schroeder will be in Athens on March 17.

Bonn's proposal on co-financing in the agriculture sectors has been withdrawn, Mr. Simitis also announced.

Athens News Agency

[02] Kranidiotis: Greece united, ready to deal with any Turkish threat

Athens, 09/03/1999 (ANA)

Mr. Kranidiotis, who was replying to reporters' questions, said Greece was "united and ready to deal with any threat from the Turkish side."

"Unfortunately, the only result of Turkey's behaviour is the creation of dangerous impasses," he said.

The Greek minister added that although he did not fear that Ankara might provoke some serious incident in the Aegean, Greece was nevertheless ready - militarily, defensively and diplomatically - to deal with any threat, and expressed a view that Turkey wo uld not attempt such "lunacy".

Replying to other questions, Mr. Kranidiotis said Greece did not support secessionist movements.

Emphasising his opposition to secession through force, he underlined that international relations and borders must be respected.

Referring to the Greek veto on EU funding of Turkey, he said:

"An effort is being made by the European countries to have the veto sidestepped and the principle of unanimity abandoned for subsidisations to Turkey to be promoted. We are opposed and we are determined to prevent this course.

"We have set a series of preconditions for the funding of Turkey, which are valid, and provided these preconditions are met Greece is prepared to view the issue again. These preconditions are Turkey's position on its relations with Greece, in the Aegean , in Cyprus and its overall attitude on human rights issues. However, these are issues for discussion," he added.

Gov't spokesman : Athens said yesterday that a number of Turkish politicians had chosen Greece as a "hostile target" because of political instability in the neighbouring country and in order to reap popular support for the upcoming Turkish elections.

Replying to reporters' questions on developments in the wake of the Ocalan affair, government spokesman Dimitris Reppas described recent statements by Turkish Prime Minister Bulent Ecevit as "an anti-Greek frenzy."

Accusing Mr. Ecevit of "play-acting", he said attempts to associate Greece with acts of terrorism in Turkey were "manifestly spurious" and "excessively impudent" in view of the fact that Turkey continued to occupy one-third of Cypriot territory. He also said Turkey's continuing aggressive and provocative behaviour was "a very bad sign" and in order to confront it, "the only guarantors are Greece and the Greek people".

Replying to a question about Washington, Mr. Reppas said "each third party sees things through its own prism", adding that all Greece sought was the implementation of rules of law.

Asked whether the US wanted Greece to join EMU, he replied that Washington may want this "but it may also want Turkey in Europe, without fulfilling the prerequisites".

The spokesman reiterated that Greece was in favour of Turkey's European orientation provided it was in harmony with European institutions and principles.

Athens News Agency

[03] G. Papandreou briefs KKE's Papariga

Athens, 09/03/1999 (ANA)

Speaking after meeting with Communist Party of Greece (KKE) Secretary General Aleka Papariga, Mr. Papandreou said a permanent forum for contacts with political parties would help inter-party cooperation on issues of foreign policy.

He said he would be sending Prime Minister Costas Simitis a rundown on the different attitudes and positions of the parties before he went ahead.

Mr. Papandreou said he planned to ask each party to name a representative with whom the foreign ministry could approach on issues related to party cooperation and briefing parties.

Responding to questions, Ms Papariga said there were dangers for the region.

"The new order of things has no borders," she said. "Greece is both victim and victimiser."

She said the whole problem in relations between Greece and Turkey boiled down to competition between the two over who would be "the right hand" of NATO and the United States.

"This competition can cause an incident," she added.

Speaking later to reporters, Mr. Papandreou said the political parties had different views with regard to institutions.

He said some favoured the establishment of a national council for foreign policy, others were proposing cooperation at the level of party leaders and others were speaking of cooperation within existing frameworks, namely the all-party parliamentary committee.

Mr. Papandreou said the proposals made at an institutional level would be examined.

Athens News Agency

[04] Greek diplomat in Ankara temporarily detained by Turkish police

ISTANBUL, 09/03/1999 (ANA - A. Kourkoulas)

Anadolu reported that the "strange movements of the Greek diplomat" lead to his detention, insinuating mysterious circumstances.

Athens News Agency

[05] Kaklamanis replies to Turkish assembly VP's attempt to tarnish Greek gov't

Parliament President Apostolos Kaklamanis noted here yesterday that "we cannot identify every struggle and every effort by peoples for freedom and independence, every struggle by individuals for human rights with terrorism, and th ink that in this way we have done away with the problem."

Mr. Kaklamanis responded to an effort aimed at tarnishing the Greek government in light of the Ocalan affair by Turkish assembly vice-president Gurkan. The Turkish deputy referred from the podium of a Euro-Mediterranean parliaments' conference "to allied countries in NATO which are supporting the terrorist organisation PKK against Turkey."

Mr. Kaklamanis said all must condemn and work to avert preconditions for terrorism or for actions which we freely christen terrorism afterwards.

Cypriot House Speaker Spyros Kyprianou also sternly replied to the Turkish MP, saying that relevant reference to terrorism was irrational at a time "when the occupation of 40 per cent of the Republic of Cyprus is continuing for 25 years with the force of arms by 'Attila's' invasion forces."

The Majorca Conference's two-day session came to an end with the adoption of a proclamation which, among others, stresses that security and stability are based on world economic development, the establishment of a just and permanent peace in the region, particularly in the Middle East, and the safeguarding of human rights and the rights of peoples in accordance with principles contained in the UN charter and international law.

It also stresses the promotion of contacts and an exchange of experiences between national parliaments and Parliamentary committees is primarily achieved in the fields of environmental protection of commerce, labour, education and health.

Other points include contribution towards eradicating terrorism, corruption, organised crime and illegal trafficking aimed at preventing the multiplication of weapons of mass destruction in the region in the framework of the Barcelona Proclamation.

Athens News Agency

[06] Kranidiotis' talks with Poland's chief EU negotiator

Athens, 09/03/1999 (ANA)

Speaking to reporters after the meeting, Mr. Kranidiotis said the talks covered issues related to EU enlargement and negotiations for Poland's accession.

He said progress had been made in the negotiations and expressed the hope that Poland would eventually join the EU.

Mr. Kulakowski too said negotiations were going well and had already reached "a substantial stage".

He said Warsaw believed that Poland could become an EU member in 2002 or 2003.

Also discussed at yesterday's meeting were issues related to the Agenda 2000 as well as political and institutional reform in the EU.

Athens News Agency

[07] Greek envoy in US replies to latest Turkish claims

WASHINGTON, 09/03/1999 (ANA)

Replying to the newspaper's editorial, published on Feb. 26 under the headline "Greece's Turn", Alexandros Philon stated:

"First, Greece condemns terrorism in all its forms and has developed a long- standing close collaboration with many countries and in particular with its European Union partners and the United States in combating terrorism. The allegation that Greece supports terrorist activities is completely unfounded but remains a constant theme of Turkish propaganda, based on the well-tested principle that the more a fabrication is repeated, the more it is believed.

"The editorial rightly casts doubt on the 'confessions' made by Abdullah Ocalan to his captors and leaked to the Turkish press. Previous claims by Ankara have been thoroughly investigated and proved inaccurate and baseless. The State Department spokesma n, when asked on Feb. 23, replied that he has not seen evidence to substantiate such claims. Recently, the UN High Commissioner for Refugees rejected Ankara's claim that terrorists were being trained in the Lavrion refugee center in Greece, given that this center is under permanent inspection by the Red Cross and the United Nations.

"Second, regarding the handling of the Ocalan case by the Greek authorities, it should be pointed out that Mr. Ocalan entered Greece illegally, despite the fact that the Greek government had made it perfectly clear that he should not come to Greece and that it would not grant him political asylum. In fact he already had submitted a request for political asylum in another European country, which was under examination. Greek judicial authorities are investigating his illegal entry into Greece.

"This European country has explained why Mr. Ocalan could not be extradited to Turkey. The same reason holds for Greece. But in order not to make the Ocalan question an issue between Greece and Turkey, the Greek government insisted on his departure from

Greece but gave him, for humanitarian reasons, temporary refuge in Kenya until asylum could be granted by another country.

"Finally, I would like to point out that Greece has repeatedly stated that it supports the territorial integrity and borders of all states and especially those of our troubled region and, therefore, is against separatist movements.

"It is ironic, to say the least, that Turkey, which purports to support territorial integrity and condemns separatism, invaded the state of Cyprus in 1974 and continues an illegal occupation, attempting to impose separatism on an independent state that is a member of the United Nations."

Athens News Agency

[08] Mitsotakis on Greek-Turkish relations, gov't handling of Ocalan affair

Athens, 09/03/1999 (ANA)

During a private television interview, Mr. Mitsotakis said the Greek government is "politically handicapped" and advised "self-restraint and cool-headedness". He also added that Greece must forge ahead with the current government, as it is the legally and constitutionally elected government.

In addition, the former ND premier said the PASOK government's handling of the Ocalan affair was a "tragic failure", with damage caused bordering on tragedy.

"...the government will pay when the time comes...If I were prime minister something like that would not have happened. Mr. (Costas) Simitis has the primary responsibility, and the issue does not end with the removal of three ministers," Mr. Mitsotakis added.

Answering a question on the possibility of an incident between Greece and Turkey, he agreed with Foreign Minister George Papandreou that there "can not be small or large border incidents."

He added that an armed confrontation means war, noting that Greek-Turkish relations are at their worst phase since the Turkish invasion of Cyprus.

However, Mr. Mitsotakis expressed a belief that Ankara is not resolved to cause a military incident, while Athens should tone down its verbal sparring.

Finally, he said it would be a mistake to make decisions over major weapons purchases at this time.

Athens News Agency

[09] Strong quake recorded in Ilia prefecture

Athens, 09/03/1999 (ANA)

The quake was recorded at 7:10 a.m. at a distance of 185 kilometres southwest of Athens and with an epicentre near Zacharo, Ilia.

The quake was also felt in Tripoli and Kalamata.

An Athens Observatory seismologist said the area was highly seismic, but there was no cause for alarm.

Athens News Agency

[10] Gov't dismisses recent negative showings in opinion poll

Athens, 09/03/1999 (ANA)

"The government and the prime minister will be judged (by the voters) in 2000," government spokesman Dimitris Reppas said.

An opinion poll published in Sunday's edition of "Eleftherotypia" showed main opposition New Democracy party comfortably leading ruling PASOK by a margin of 6.8 points.

Both major parties, however, polled under 30 per cent, with ND receiving 27.9 per cent compared to 21.1 per cent for PASOK. Among the smaller opposition parties, the Democratic Social Movement (DHKKI) appeared slightly strengthened with 5.6 per cent; the Communist Party of Greece was given 5.3; the Coalition of the Left and Progress 4.6; and Political Spring 1 per cent.

About 34.4 per cent of those polled said they would cast blank or invalid votes or refused to answer.

V. Papandreou : Interior Minister Vasso Papandreou later said she was confident of a strong showing for the ruling party in June's European Parliament elections.

"In 1996, all the opinion polls were negative and yet we won the elections. The same will occur again and we will win the European elections," she told a news conference.

She said she expected the ruling party's congress later this month to be "lively" but that "although we may have outbursts like the last congress, we will come out of it united".

Asked about the results of the latest opinion poll - which shows the public dissatisfied with the PASOK government's performance in certain sectors - she admitted that "in certain areas, the results have not been as evident as in others."

Ms Papandreou, whose ministry is in charge of preparations and holding of the European Parliament elections, said everything was ready for the June poll.

Athens News Agency

[11] Evert on Greek-Turkish relations

Athens, 09/03/1999 (ANA)

He was speaking to reporters after a meeting with National Defence Minister Akis Tsohatzopoulos.

"We are going through a critical period. Turkey is on the eve of elections and, unfortunately, the statements by the Turks have become excessively provocative," Mr. Evert said.

He recommended "cool-headedness", adding that Greece must make the Turks understand that it was "not kidding".

"Any pressure from east or west, if it is aimed against our national interests, will not bend Greece," he warned.

Mr. Evert further backed a peaceful settlement to differences, and described as "excellent" the Greek armed forces' capability, calling at the same time for the armaments programme to continue "at a speedier pace".

Athens News Agency

[12] Commonwealth donation to PIKPA

Athens, 09/03/1999 (ANA)

The embassies of Australia, Britain, Canada, Cyprus, New Zealand and South Africa will donate the equipment during a special event tomorrow at the PIKPA site in Penteli, coinciding with celebrations for Commonwealth Day.

Athens News Agency

[13] Karamanlis continues contacts in US

WASHINGTON, 09/03/1999 (ANA - E. Nikolaou/T. Ellis)

Mr. Karamanlis pointed out to his interlocutors that normalisation of Greek- Turkish relations passes through a change in Turkey's position. He also met US Sen. Edward Kennedy at noon yesterday, saying afterwards that they had a very interesting discussi on.

The ND leader added that they also discussed the issue of Cyprus and added that he and the US senator agreed that UN resolutions must be supported.

Mr. Karamanlis said it was obvious that the intransigent side was Turkey which is not allowing progress towards a just and viable solution to the Cyprus issue.

"I must reiterate and underline that we both agree that the accession course of Cyprus must be promoted at last, without this constituting a point of extortion for the political solution," he said. Earlier, Mr. Karamanlis had a working luncheon with th e president and members of the Strategic and Economic Studies Institute, as well as a meeting with the editorial staff of the "Washington Post".

Talks focused on the Ocalan affair, the Greek government's handlings, its repercussions on Greek-Turkish relations and the country's course towards Economic and Monetary Union (EMU). Mr. Karamanlis is due to meet Sen. Paul Sarbanes, while he was also scheduled to have an interview with the CNN network late last night.

State Dept. : WASHINGTON (ANA - T. Ellis) - A US State Department spokesman, asked to comment yesterday on PM Costas Simitis' recent statements against terrorism, said Washington "as a general rule, welcomes such condemnations."

Spokesman James Rubin added that condemnations of terrorism are welcome, "as well as concrete measures to combat terrorist organisations. But I haven't seen the full text of the statement, so other than that general point, I wouldn't be able to comment. "

Referring to Mr. Karamanlis' visit in the US capital, Mr. Rubin said the ND leader will meet with US Vice-President Al Gore and US Secretary of State Madeleine Albright, among others.

"We have a long tradition of meeting with opposition leaders of democratic allies. They will discuss, from our side, the general US-Greek bilateral relations, including areas where we work together, and that is the general topic," Mr. Rubin added.

Joint US-Greece economic, commercial meeting held in Washington :The US embassy in Athens announced that a second US-Greece economic and commercial commission meeting was concluded yesterday in Washington.

The joint commission was established in 1998 to serve as a venue for dialogue on expanding US-Greek economic and commercial ties.

Among the participants were Greece's ambassador in Washington, Alexandros Philon, and US ambassador in Athens Nicholas Burns.

The agenda highlighted the strength of the US and Greek economies and the growing opportunities for expansion. The next commission meeting is scheduled to be held in Greece.

Athens News Agency

[14] US tank crews arrive in Litohoro

Athens, 09/03/1999 (ANA)

"They are not the advance of the US contingent that will head to Kosovo in the event of an agreement between the Serbs and Albanians there. The tanks will simply practice at the Litohoro firing range and return to the warships," a military source said.

Three US warships carrying 1,500 marines are taking part in the naval exercise.

"The troops may eventually beef up the NATO force in the Former Yugoslav Republic of Macedonia (FYROM), a division of which will head to Kosovo to monitor the agreement if one is reached," the source said. At the same time, NATO troops and equipment con tinued to arrive in FYROM via the port of Thessaloniki. A German ship carrying 375 military vehicles and 11 containers, two German "Airbuses" and another two C-160 planes carrying 400 troops were due in Thessaloniki by noon yesterday.

Athens News Agency

[15] Announcements regarding int'l women's day

Athens, 09/03/1999 (ANA)

"PASOK for many years now is taking brave and productive steps daily to achieve equality between the sexes..." Mr. Simitis said, adding that "almost all legislation on the women's position in society was passed by PASOK governments."

On its part, the KKE called on women of Balkan countries, Turkey, Iraq and Kurdish women to wage a joint struggle "against the imperialistic new order".

Reppas : Press Minister Dimitris Reppas stressed that the mass media in Greece should not see the issue of equality between men and women as an additional 'legal burden' for their operation.

INKA : Finally, the Consumers Association (INKA) announced that 81 per cent of women and children fall victims to false advertising.

In a release, INKA stated that "a major part of advertising targetting to women, compared to men, is misleading, over-simplified, based on eponymous attestations and empty."

Prime Minister Costas Simitis yesterday received Education Minister Gerasimos Arsenis for talks on the issue of allocated funds for universities through the public investment programme.

Mr. Arsenis said he will table the issue at a government committee and will request increased funding. Although last year's credits from the public investment programme totalled 24 billion drachmas, the '99 budget allocates 15 billion drachmas - five b illion for pending debts - university rectors protested and called for more funding, something Mr. Arsenis reportedly agreed with.

Representatives of Bulgaria's Kozloduy nuclear plant yesterday stated that its four first-generation technology reactors would close when negotiations for the upgrading of another two reactors were completed. The statement, made during a press conferenc e at Bulgaria's consulate in Thessaloniki, was in reply to an event organised on Saturday to protest Kozloduy's operation.

Athens News Agency

[16] Greece's 1998 fiscal deficit meets EU convergence criterion

BRUSSELS, 09/03/1999 (ANA/M. Spinthourakis)

The Maastricht Treaty's criterion for the key indicator is that a country's fiscal deficit must lie below 3.0 percent of GDP in order to qualify for entry into the euro zone.

Greece posted the fastest rate of decline in the fiscal deficit among EU members from 1995 to 1998.

The country's fiscal deficit for 1998 was released in Brussels yesterday by Eurostat, the EU's statistics agency.

The average fiscal deficit in the EU's 11 euro zone countries was 2.1 percent of GDP in 1998, and an average 1.5 percent of GDP for the 15-nation EU.

Eurostat said in the same statement that Greece's public debt was 106.5 percent of GDP in 1998, down from 109.4 percent in 1997.

The country meets the Maastricht criterion for a declining public debt, whose target is 60 percent of GDP in the medium term.

Athens News Agency

[17] Stocks jump in better sentiment

Athens, 09/03/1999 (ANA)

The general index ended 2.50 percent up at 3,334.86 points but off the day's highs. Turnover was 130.538 billion drachmas and volume 27,624,047 shares.

Traders said the market had regained confidence in the political scene, including an easing of tension with Turkey.

Also fuelling the market were Friday's euphoria in international markets, the prime minister's reaffirmation of the country's goal to join the euro, and positive comments on the economy by international financial houses.

Sector indices scored gains. Banks soared 3.30 percent, Leasing ended 1.25 percent up, Insurance increased 1.12 percent, Investment rose 1.75 percent, Industrials ended 1.74 percent up, Construction jumped 4.51 percent, Miscellaneous increased 1.67 perc ent and Holding rose 0.48 percent.

The parallel market index for small cap companies ended 3.22 percent higher while the FTSE/ASE 20 index ended 2.73 percent up at 2,055.97.

Commercial Bank of Greece shares saw heavy demand to end at 38,016 drachmas, hitting the daily 8.0 percent limit up.

The market began to discount a positive outcome in a second tender for the privatisation of a majority stake in Ionian Bank.

Sixty shares hit the daily 8.0 percent limit up. Among them were Commercial Invest, Hellas Can, Viokarpet, Dias, Ionian Invest, Etem, Maxim, Elmec Sport and Daring.

Thessaliki, Mevaco, Doudos, Lambropoulos, Allatini, Technodomi, NEL Lines, Nematemboriki and Ermis suffered the heaviest losses.

Broadly, advancers led decliners by 232 to 55 with another 8 issues unchanged.

Benroubi, Ergo Invest, Eskimo and Mytilineos were the most heavily traded stocks.

National Bank of Greece ended at 20,050 drachmas, Alpha Credit Bank at 34, 700, Ergobank at 22,750, Ionian Bank at 19,300, Titan Cement at 23,500, Hellenic Petroleum at 2,490, Intracom at 20,345, Minoan Lines at 7,750, Panafon at 8,625 and Hellenic Telecoms at 7,160.

Trade scant in bond, forex markets : Trade in domestic bond and foreign currency markets was subdued yesterday due largely to the absence of institutional investors from abroad, traders said.

Attention is focused on today's auction of 10-year bonds, which will act as a gauge of the spread between the paper and its equivalents in Europe as part of the country's bid to join the euro in 2001.

The yield is expected to edge down, the traders said.

Yesterday the 10-year-bond was trading at 101.90-102.20, showing a yield of 6.0 percent, below its 6.30 percent coupon.

The spread with the paper's German equivalent was 1.96 percent, down from 2.11 percent on Friday.

Electronic trade in the secondary bond market was 29 billion drachmas.

In the foreign currency market, the drachma was 321.850 against the euro at the central bank's daily fix from 321.900 in the previous session. The dollar was fixed at 295.120 drachmas against 296.790 on Friday.

Athens News Agency

[18] Gov't mulling bill to tidy up OA's finances

Athens, 09/03/1999 (ANA)

The bill being discussed would also write off a 35-billion-drachma debt owed by OA to state Commercial Bank of Greece.

Removal of the debt from financial records was apparently overlooked before the airline's restructuring. The Greek Ambulance Service owes Olympic 720 million drachmas for the transportation of patients and ministries owe 3.5 billion drachmas for trave l by staff.

Use of the presidential Falcon aircraft cost another 3.5 billion drachmas, although there are no invoices to verify the amount.

The representatives of political parties have been asked to come forward to settle their debts to the carrier by the end of the year.

If they fail to appear, the debts are likely to be deducted from monies allocated to political parties by parliament, a move that has already been endorsed.

Athens News Agency

[19] Moody's gets facts on Greek economy before review

Athens, 09/03/1999 (ANA)

The national economy and finance ministries will brief the analysts on inflation, deficits and debts during the visit, which ends today.

The Bank of Greece will supply data on interest rates, credit expansion and foreign exchange policy.

After the last review, Moody's upgraded the outlook for the country's foreign currency debt.

Athens News Agency

[20] German tourists to Greece seen rising in 1999

Athens, 09/03/1999 (ANA)

Mr. Kyriakidis, returning from a trip to Berlin for the international ITB tourism exhibition, said German tour operators were optimistic due to an improvement in the competitiveness of Greek package holidays compared with rival countries, better service , and a small but steady economic recovery in Germany.

During his trip, Mr. Kyriakidis met Gerd Hesselmann, president of the Travel Agents Association of Germany, and executives from major sector firms including TUI, Condor and Attika Reisen.

According to the GNTO, Greece was the fifth top European destination for German tourists in 1997 with 2.2 million arrivals.

Greece climbed to fourth position in 1998 attracting 5.0 percent of German tourists, up from 4.0 percent in 1997.

In 1990, the stake was 6.0 percent but the number of German arrivals was lower at 1.9 million.

Athens News Agency

[21] Themeliodomi to boost share capital

Athens, 09/03/1999 (ANA)

The increase would be effected through a capitalisation of 1.545 billion drachmas of reserves, the distribution of one free share for each existing one, and the issue of six new shares for 10 existing ones at 1,000 drachmas each.

A company statement said that despite a negative climate in the construction sector of the Athens Stock Exchange last year, Themeliodomi's share value increased by 86 percent.

The company's share price is estimated to have risen by 84 percent in 1999.

Athens News Agency

[22] Kokkalis interview on CNN programme

Athens, 09/03/1999 (ANA)

Mr. Kokkalis, speaking on the CNN programme "Pinnacle Europe", said that "the Greek market is small for Intracom, which has already expanded to international markets."

Replying to a question on a possible purchase of Intracom by a larger firm, he said "Intracom was a child raised by me, but I should be a realist and think as a businessman...If there is a significant offer in the future to benefit the growth of the com pany, then I will be positive."

General Confederation of Workers of Greece (GSEE) President Christos Polyzogopoulos yesterday stressed that GSEE's abstention from "social dialogue" for a new taxation system was a mistake.

Mr. Polyzogopoulos said the "marginal decision" by the majority to abstain was a blunderIcommitted by all the other factions except the PASOK- affiliated PASKE.

GSEE's executive committee decided to abstain from the government's social dialogue process over the new taxation system.

New Interior Minister Vasso Papandreou announced yesterday that her ministry will aim to improve living and working conditions for citizens in cooperation with local and prefectural self-administration.

The ministry will undertake a series of initiatives in this context in cooperation with other ministries to have the considerable problems faced by Greek citizens resolved, such as improving schools premises and adjacent areas in cooperation with the ed ucation and public order ministries, among others.

Ms. Papandreou will begin a tour of Greece's 13 regions today, starting from Irakleio in Crete.

Athens News Agency

[23] Athens Foreign Exchange

Athens, 09/03/1999 (ANA)

Parities in Drachmas

Banknotes            Buying  Selling
US Dollar            292.759 299.547
Can.Dollar           192.706 197.174
Australian Dlr       183.664 187.922
Pound Sterling       470.605 481.516
Irish Punt           405.396 414.795
Pound Cyprus         552.842 565.659
Pound Malta          708.989 738.530
Turkish pound (100)    0.071   0.074
French franc          48.673  49.802
Swiss franc          200.592 205.243
Belgian franc          7.915   8.098
German Mark          163.243 167.027
Finnish Mark          53.698  54.943
Dutch Guilder        144.881 148.240
Danish Kr.            42.966  43.962
Swedish Kr.           35.645  36.471
Norwegian Kr.         37.260  38.123
Austrian Sh.          23.203  23.741
Italian lira (100)    16.489  16.871
Yen (100)            240.778 246.361
Spanish Peseta         1.919   1.963
Port. Escudo           1.592   1.629

Foreign Exchange     Buying  Selling
New York             292.759 299.547
Montreal             192.706 197.174
Sydney               183.664 187.922
London               470.605 481.516
Dublin               405.396 414.795
Nicosia              552.842 565.659
Paris                 48.673  49.802
Zurich               200.592 205.243
Brussels               7.915   8.098
Frankfurt            163.243 167.027
Helsinki              53.698  54.943
Amsterdam            144.881 148.240
Copenhagen            42.966  43.962
Stockholm             35.645  36.471
Oslo                  37.260  38.123
Vienna                23.203  23.741
Milan                 16.489  16.871
Tokyo                240.778 246.361
Madrid                 1.919   1.963
Lisbon                 1.592   1.629

Athens News Agency

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