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Athens News Agency: Daily News Bulletin in English, 99-03-26

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 says political solution "only possible solution" to Kosovo
  • [02] EU compromise proposition on Agenda 2000 presented
  • [03] Kranidiotis says strikes must stop
  • [04] Simitis welcomes Prodi's new appointment
  • [05] Greece-Turkey war only if Greece leaves NATO, Cem says
  • [06] Greece celebrates anniversary of war of independence
  • [07] PM message to the nation
  • [08] Greek Orthodox archbishop talks to Clinton
  • [09] Seven plane passengers injured in Rhodes mishap
  • [10] Athens police expose money-for-bribes academic scam
  • [11] NATO forces 'hit' ASE
  • [12] Piraeus Bank-NatWest
  • [13] Olympic Catering
  • [14] Athens Foreign Exchange

  • [01] Simitis says political solution "only possible solution" to Kosovo

    BERLIN, 26/03/1999 (ANA/P.Stangos-M. Spinthourakis-G.Zitouniati)

    Prime Minister Costas Simitis said yesterday that the only possible solution to the Kosovo crisis was a political one, stressing it could not be resolved through force of arms and military intervention.

    Expressing grief for the victims of the NATO air strikes during a press conference on the sidelines of a European Union Summit, Mr. Simitis said the strikes had been announced in advance some days ago. If they had not been carried out, he added, it woul d have damaged the credibility of both NATO and Europe.

    "We had pointed out to (Yugoslav President Slobodan) Milosevic, in fact (then foreign minister) Theodoros Pangalos had paid a special visit for precisely this reason, that if he went too far he would be faced with an impasse," Mr. Simitis said.

    Mr. Simitis categorically rejected any linking of developments in Kosovo with Greek-Turkish relations, saying Athens had already delivered a demarche to Washington protesting the "erroneous" linking of the two issues by US President Bill Clinton.

    President Clinton and British Prime Minister Tony Blair said this week that fighting in Kosovo could spill over into neighbouring countries and eventually spark a clash between Greece and Turkey.

    "Kosovo is a special case and has nothing to do with Greek-Turkish relations and if it is seen as having some connection with these relations, then this view is erroneous," Mr. Simitis said.

    Addressing journalists on Wednesday evening, Mr. Simitis said he completely disagreed with President Clinton and Mr. Blair.

    Mr. Simitis said he had told his EU counterparts that "he totally disagrees with the view that developments in Kosovo could provoke a conflict between Greece and Turkey". "This view can in no way be justified," Mr. Simitis underlined.

    In his press conference yesterday, the premier said Greece had already undertaken a number of initiatives aimed at the peaceful settlement of the Kosovo crisis and would continue in this direction. He said Greece had also taken steps concerning the dispatch of humanitarian aid, while with respect to the possibility of Greece facing a wave of refugees, Mr. Simitis said: "We are obliged to receive the refugees but I hope they won't come."

    Mr. Simitis said Foreign Minister George Papandreou had already contacted his counterparts in neighbouring countries, particularly the Former Yugoslav Republic of Macedonia (FYROM), in an effort to contain any refugee wave there.

    Replying to reporters' questions, Mr. Simitis said the EU statement on Wednesday expressing support for the NATO attacks on Yugoslavia, was not directed against the Serbian people with whom Greece maintains long- standing friendly relations.

    He added that Greece had pointed out the need for military intervention in Yugoslavia to have the "cover" of a UN Security Council resolution, but that it was eventually decided that the previous resolution of the Security Council would suffice.

    On Wednesday, Mr. Simitis has appealed for "sobriety and cool-headedness" in the Kosovo crisis .

    Mr. Simitis said he had taken the initiative to raise the Kosovo crisis at the summit before discussion of the Agenda 2000 began.

    "The Kosovo problem must not be treated by the EU as a theoretical problem of international law and human rights concerning a remote region. A wave of refugees may have repercussions for the region and lead to destabilisation..., " he told reporters.

    Mr. Simitis reiterated that Greece was not participating in NATO military action and would do so only if all the interested parties consented, "which is not the case at the present time".

    The Greek premier stressed that Greece was opposed to any change of borders in the Balkans and to "any actions which could bring about such changes".

    "The protection of human rights which we seek, must be achieved by peaceful means, not military intervention," he added.

    Mr. Simitis expressed the view that developments in Kosovo would not have negative repercussions for Greece "which constitutes a force for peace and stability in the region".

    Gov't spokesman : Government spokesman Dimitris Reppas, speaking to the press in Berlin on Wednesday evening, also dismissed the statements by President Clinton and British Prime Minister Tony Blair regarding the possibility of a Greek-Turkish clash.

    "These statements do not reflect reality. The crisis in Kosovo is unfolding on a completely different level to that of Greek-Turkish relations. There is a difference with respect to substance, history as well as regional and time factors," Mr. Reppas said.

    "The reiteration of albeit incorrect references to the possibility of the Kosovo crisis having repercussions for Greek-Turkish relations helps neither to resolve the former nor bring about an improvement of the latter, " the spokesman added.

    Tsohatzopoulos : Speaking in Athens in the early hours of yesterday morning, National Defence Minister Akis Tsohatzopoulos said "the only path which can lead to a resolution of the crisis in Kosovo is peaceful dialogue and it is now imperative that those with the relevant competence take appropriate initiatives".

    Despite Greece's insistence that the crisis be resolved peacefully, Mr. Tsohatzopoulos said, Yugoslavia's failure to agree to decisions taken (in peace talks) at Rambouillet has resulted in the use of force against Yugoslavia. Mr. Tsohatzopoulos , who was earlier forced to cut short his London visit due to developments, said: "Now the Kosovo problem is unfolding (at the level of) the refugees and the dead. A new figure for victims has been added."

    Earlier on Wednesday evening, Mr. Tsohatzopoulos continued, he had telephone conversations with his US and German counterparts, to whom he reiterated Greece's steadfast position that there could be no military solution to the Kosovo crisis.

    Mr. Tsohatzopoulos said he had also impressed on his US counterpart that there was no link between Greek-Turkish relations and the Kosovo problem.

    "The Kosovo problem affects the neighbouring countries, it has repercussions in the region, but it cannot be linked with Greek-Turkish issues," he said.

    Mr. Tsohatzopoulos said Greece had taken all the necessary measures to deal with any problems of a humanitarian nature which may arise as a result of developments in Kosovo.

    "This however is not the issue. The issue is that the crisis must be resolved peacefully," he said.

    President of the Republic : In statements made on the occasion of Greece's national day yesterday, President Kostis Stephanopoulos expressed regret at developments in the region and stressed that a political solution for Kosovo was attainable, provided it was based on respect for the "borders and principles of states".

    President Stephanopoulos said other areas also existed in which human rights should be protected with other methods and not the one in question.

    Referring to statements linking the crisis in Kosovo to Greek-Turkish relations, President Stephanopoulos said he had "never thought that the bombing of Serbia would be a way of averting a conflict between Greece and Turkey".

    Parliament President Apostolos Kaklamanis said he felt "shame", as a European citizen, over the fact that Europe had not managed "to stand up and be counted" and was "being led into adventures with the responsibility of Washington, which is using humani tarian considerations as a pretext for the intervention".

    Opposition reactions : Main opposition New Democracy (ND) party leader Costas Karamanlis stressed also that a political solution should be found to the Kosovo problem, saying "we do not believe that major international problems can be settled by the use of force".

    Speaking on the island of Lesbos yesterday, where he was attending 25 March events marking the commencement in 1821 of the Greek struggle for independence against the Ottoman Turks, Mr. Karamanlis said that under no circumstances should there be any cha nge in borders in the region and spoke of double standards on the part of the international community.

    "Force has been used in the case of Kosovo without the consent of the United Nations Security Council, while in the case of Cyprus, many resolutions have been adopted without the intervention of NATO being requested," Mr. Karamanlis said.

    He also addressed himself to Ankara, saying Greece "wants to walk along the path of peace and stability with Turkey, on the basis of mutual respect for international treaties and conventions".

    He underlined however that Greece was determined to confront any threat, irrespective of where it originated.

    The Communist Party of Greece (KKE) issued a statement calling on Greeks "to rise up, to stand at the side of the Yugoslav people and demand that NATO withdraw from the region and stop the war".

    "The Greek people and its youth must demand from the (Greek) government to withdraw from the dirty war," the statement also said.

    The Coalition of the Left condemning the NATO strikes against Yugoslavia demanded an immediate cessation.

    A Coalition statement said the NATO bombardment and the circumventing of the UN Security Council was a blatant violation of international law and "an act of brutal imposition".

    Democratic Social Movement (DHKKI) leader Dimitris Tsovolas said his party condemned "with outrage and indignation, the unjustified and inhuman attacks by the US and NATO on Yugoslavia, which are being carried out in violation of the UN Charter, with the aim of changing the status quo in the Balkans to the benefit of the US".

    Archbishop : Archbishop Christodoulos of Athens and All Greece said "the problems of peoples are not resolved by weapons and the powers that, on the pretext that they are serving the principles of democracy and human rights, by intervening in Kosovo have trampled on these timeless values in the most brutal way".

    Christodoulos said he fully supported the Yugoslav people and felt shame for "those who call themselves Christians yet turn against a people with the same religion".

    The NATO attacks on Yugoslavia were also condemned by Archbishop Spyridon of America, who appealed for all diplomatic efforts to be exhausted for a peaceful solution of the Kosovo crisis.

    Yugoslav ambassador : Yugoslav President Slobodan Milosevic will not budge from the position he has so far adopted, since it concerns Yugoslavia's vital interests, Yugoslav Ambassador to Greece, Dragomir Vucicevic, told a news conference in Athens yesterday.

    Mr. Vucicevic appealed for an end to the NATO attacks and for efforts to be made by the international community in support of international law.

    "Each broadening of the incidents will create problems in the greater region," Mr. Vucicevic warned.

    Replying to questions, Mr. Vucicevic said Greece's stance in the crisis was "appreciated" by his government, given that Athens opposed any change in borders and supported a peaceful resolution of the problem.

    "We particularly appreciate that Greece refuses to take part in any way in developments and in NATO actions against Yugoslavia," he added.

    He said Belgrade felt the same appreciation for two permanent members of the UN Security Council, Russia and China.

    Mr. Vucicevic however criticised UN Secretary General Kofi Annan "for trying to legalise the intervention against Yugoslavia".

    According to the envoy, NATO's first wave of air strikes resulted in the death of five people and 30 injured, all of whom were civilians. Mr. Vucicevic charged that a Serb refugee camp near Belgrade, a 13th century monastery in Kosovo, industrial ins tallations, business premises and non- governmental buildings located in residential areas had been hit.

    "These were all the targets of Clinton's aggression," the envoy said.

    Mr. Vucicevic said no attacks were being or would be carried out against Albanian citizens in Kosovo, adding that any measures being taken by Belgrade concerned "Albanian terrorists". Foreign Minister George Papandreou late last night said that "the message has been sent and political consultations should now begin".

    Addressing journalists in Berlin, Mr. Papandreou said that in consultations with his Bulgarian, Romanian and Turkish counterparts possible humanitarian aid to be provided is being planned.

    Athens News Agency

    [02] EU compromise proposition on Agenda 2000 presented

    BERLIN, 26/03/1999 (ANA - M. Spinthourakis)

    The European Union German presidency last night presented a compromise proposition to the Agenda 2000 issue which has been the major problem of the Berlin special EU summit, Foreign Minister George Papandreou said late last night.

    The proposition was the subject of discussions between the EU leaders until press time.

    Earlier, Prime Minister Costas Simitis referred to discussions held in Berlin on Thursday night and yesterday morning during the European Union summit on the Agenda 2000 in statements he made to reporters.

    Mr. Simitis said the "15" discontinued the meeting at 11 a.m. and that the EU German presidency decided to start bilateral contacts with its 14 partners expected to last until 5 p.m.

    He said the main problems concerning the EU's fiscal prospects and the Agenda 2000, namely the issue of Common Agricultural Policy (CAP) expenditures, expenditures for the EU's structural policies, as well as the issue of restructuring the EU budget's own resources had been discussed so far.

    Mr. Simitis said that regarding the discussion on the EU's structural policies, which is of special importance for Greece, the German presidency has tabled a proposition determining the amount of funds for structural policies at 210 billion euro over the next seven years. He further said the German presidency is introducing the philosophy of the criterion of regional instead of national prosperity in the allocation of these funds.

    According to this proposition, the criterion for providing EU economic aid to a region will not be whether it belongs to a country whose GDP per capita is less than 75 per cent of the average EU GDP, but if the region in question has itself a GDP per capita which is considerably less than the EU average.

    Mr. Simitis said these proposals do not correspond either to Greek needs or to Greek claims. He said Greece has the lowest level of development between member-states and, consequently, it has a greater need for economic support from EU funds to continue its development policy.

    Mr. Simitis said that both the amount and the way with which it will be allocated, in relation to the EU's structural policies, does not satisfy Greece and, therefore, Greece tabled its objections.

    Athens News Agency

    [03] Kranidiotis says strikes must stop

    Athens, 26/03/1999 (ANA)

    Strikes against the Federal Republic of Yugoslavia must stop immediately, Greek Alternate Foreign Minister Yiannos Kranidiotis said last night, adding that otherwise there was a danger of increasing tension and the spreading of the crisis.

    He furthermore underlined the need for a resumption of diplomatic efforts for the search of a political solution, noting that Greece was in contact with neighbouring countries and its European Union partners stressing this need.

    Mr. Kranidiotis announced that Greece intends to raise the issue of the economic consequences of the crisis and the need to seek ways of tackling them at the next EU Council of General Affairs, adding that the European Union should examine the idea of convening an international conference on the economic development of the Balkans.

    He also said that instructions have been given to Greece's permanent NATO representative, ambassador G. Savaidis, to express Greece's reservations when the issue of NATO's operations passing into the "third phase" is raised.

    The "second phase" of the alliance's operations is currently underway and for which the consensus of member-states has been secured with a previous decision. The "third phase" anticipates mass bombings of military targets throughout the entire territory of Yugoslavia.

    On the question of the "fourth phase", concerning the sending of ground forces, Mr. Kranidiotis said that Greece "is extremely reserved to the point of being negative."

    Mr. Kranidiotis had a meeting lasting for about an hour with the Russian Ambassador to Athens Mikhail Bocharnikov in the afternoon with whom he exchanged views on the crisis in Kosovo.

    Today, he will be having successive meetings with the ambassadors of Romania, Albania and the Former Yugoslav Republic of Macedonia. US Ambassador to Athens Nicholas Burns has also requested a meeting with M. Kranidiotis.

    Athens News Agency

    [04] Simitis welcomes Prodi's new appointment

    BERLIN, 26/03/1999 (ANA/M.Spinthourakis)

    Greek Prime Minister Costas Simitis on Wednesday welcomed the appointment of former Italian prime minister Romano Prodi as the new president of the European Commission, saying he was confident he would do a good job.

    "Romano Prodi is well versed in European affairs and has made a positive contribution both to European unification as well as to Italy's participation in the final phase of economic and monetary union," Mr. Simitis told a news conference in Berlin.

    "He has all the qualities necessary for the job."

    Mr. Prodi is expected to be formally appointed by an extraordinary summit meeting at the beginning of April. The European Parliament will hold a vote for Mr. Prodi.

    Mr. Simitis praised outgoing Commission President Jacques Santer, saying that his tenure as president had been positive for Greece.

    Mr. Santer and the entire European Commission resigned last week following the release of a report alleging irregularities in management and other duties of commissioners.

    Athens News Agency

    [05] Greece-Turkey war only if Greece leaves NATO, Cem says

    ANKARA, 26/03/1999 (ANA - A. Ambatzis)

    Asked to comment on the possibility of a war between Greece and Turkey at a press conference in Ankara yesterday, Turkish Foreign Minister Ismail Cem said this could only happen if Greece left the NATO alliance and fought agai nst the alliance on the side of Serbia.

    "A situation of war between Turkey and Greece, due to the crisis in Kosovo, could only arise if Greece left NATO and fought against the alliance on the side of Serbia, which is something I do not expect," Mr. Cem said.

    US President Bill Clinton and British Prime Minister Tony Blair said this week that fighting in Kosovo could spill over into neighbouring countries and eventually spark a clash between Greece and Turkey.

    Replying to a question on the telephone conversation he had with Greek Foreign Minister George Papandreou, Mr. Cem said the Greek minister called him "to discuss Turkey's proposal for humanitarian aid to be given to Albania and (the Former Yugoslav Repu blic of ) Macedonia."

    Athens News Agency

    [06] Greece celebrates anniversary of war of independence

    Athens, 26/03/1999 (ANA)

    Greece yesterday celebrated the 178th anniversary of the 1821 War of independence against Ottoman rule with a military parade in Athens and all over the country yesterday.

    The parade in Athens was held in the presence of President Kostis Stephanopoulos, party leaders, National Defence Minister Akis Tsohatzopoulos, Parliament President Apostolos Kaklamanis and Archbishop of Athens and All Greece Christodoulos.

    Mr. Tsohatzopoulos congratulated the armed forces for their dynamic presence in the parade which showed that in the current age they are ready to defend the values, principles and ideals of the national resurrection, confirming their role as a force of deterrence, peace and security.

    In the light of current events in Yugoslavia, Mr. Tsohatzopoulos underlined that Greece had "the possibility and strength to guarantee peace and stability in the region".

    Athens News Agency

    [07] PM message to the nation

    Athens, 26/03/1999 (ANA)

    In a message to the nation, Prime Minister Costas Simitis said "that contributing to the creation of a modern, powerful and prosperous Greece means honouring the past."

    He said that today what is patriotic is what makes Greece strong and modern, having a say and prestige in international developments, what makes the economy competitive, promotes wider social consensus and cohesion and what makes Greece omnipotent on all fronts and particularly on the home front.

    Mr. Simitis said the government is combining economic and social development with the strengthening of the country's international position and strong deterrence, facing Turkish aggressiveness effectively.

    He further said in his message that Greece claims nothing, while it also negotiates nothing, adding that Greece is in a position to guarantee the preservation and maintenance of peace and the widening of cooperation in the sensitive Balkan region.

    Athens News Agency

    [08] Greek Orthodox archbishop talks to Clinton

    WASHINGTON, 26/03/1999 (ANA - A. Ellis)

    Archbishop of America Spyridon and leading members of the Greek-American community had a meeting with US President Bill Clinton in the Oval Office of the White House yesterday in the framework of the established annual ceremo ny for the signing of the declaration on Greek Independence Day by the US President.

    The brief courtesy meeting was attended by Deputy Foreign Minister on Expatriate Issues Grigoris Niotis, who is in Washington to attend events commemorating March 25 national celebrations. On the occasion,he was due to meet Assistant Secretary of State for European Affairs Mark Grossman later yesterday.

    Speaking after the meeting. Mr. Niotis said he thanked President Clinton for the interest he is showing for a just and viable solution to the Cyprus issue and for the initiatives he has launched in this direction. He called on him to continue efforts to achieve this target.

    Mr. Niotis said developments in Kosovo were also discussed, while President Clinton expressed his personal interest in the Greek minority in southern Albania as well as on the prevention of the war from spreading.

    On his part, Mr. Niotis said there is no reason for Greece and Turkey to get involved in the Kosovo crisis, which in past days has been raised as one of the main reasons leading NATO to go ahead with bombings against Yugoslavia.

    The meeting was attended, among others, by Greece's Ambassadors in Washington Alexandros Philon, the President of the World Council of Hellenes Abroad (SAE) Andrew A. Athens, Greek-American former Congressman John Brademas and the President of the Natio nal Coordinating Committee Andy Manatos.

    In his declaration, President Clinton said:

    "America has deep roots in Greece, and today we celebrate the friendship values and aspirations our two countries have shared for more than 2 centuries. Greek thought and the passion for truth and justice deeply influenced many of our Nation's earliest and greatest leaders. The documents our founders wrote to establish our democracy and the political and legal institutions they created to preserve our independence and protect our rights reveal that influence."

    "The bonds of family have further reinforced our ties of friendship and shared ideals. All across our Nation, Americans of Greek descent have brought their energy, grace, and determination to every field of endeavour, and they have added immeasurably to the richness and diversity of our national life. The sons and daughters of Greece have flourished in America, and with their help, America too has flourished," it added.

    "Today, as we celebrate the 178th anniversary of the onset of modern Greece's struggle for independence, let us celebrate as well the great partnership between our nations and the precious heritage of freedom and democracy we share," the declaration said.

    Athens News Agency

    [09] Seven plane passengers injured in Rhodes mishap

    Athens, 26/03/1999 (ANA)

    Seven passengers on an airplane were injured when the plane missed the runway on the island of Rhodes and landed in a neighbouring field on Wednesday.

    The Airbus, belonging to "Amiri Fly", a charter flight, was carrying 252 passengers, mostly Moroccan, and a 19-member crew. It was flying from Dubai to Rabat and was scheduled to stop in Rhodes for refuelling.

    Seven passengers in all had been treated for light injuries sustained during emergency exit procedures.

    Authorities said the reasons for the plane skidding off the runway into the field remained unknown but said that torrential rain and strong winds of up to 40 knots prevailing at the time may have been a factor.

    Shortly before the incident, an Olympic Airways flight scheduled to leave Rhodes for Athens was cancelled due to the bad weather.

    Athens News Agency

    [10] Athens police expose money-for-bribes academic scam

    Athens, 26/03/1999 (ANA)

    Police on Wednesady uncovered a sophisticated money-for-bribes scam operating at the University of Athens School of Mathematics, allowing students to buy their way to a degree.

    Involved in the scheme were a senior university professor, mathematics lecturers and graduates and an employee of the university's administrative office.

    Police expect to charge up to 12 people with involvement in the scam and have arrested four. At least five students are expected to be charged with buying their grades in various classes.

    The spouse of one of the academics implicated in the scam was arrested as he accepted a 500,000 bribe from a female student.

    The money was in exchange for receiving a passing grade in two courses without sitting exams and to receive examination topics ahead of sitting an exam.

    The ring was involved in a range of activities that would enable students to pass lessons in exchange for money, including sending others in students' places to sit for exams, providing examination topics ahead of crucial exams, and allowing students ac cess to their examination papers after the exam.

    Police said the group had been operating for at least five years and estimate that at least 200 students had taken advantage of the scam. Buying a good grade could range from 100,000 to 300,000 drachmas per course, which would then be shared by the members of the group.

    In raids on the homes of those implicated in the ring, police found uncompleted examination papers with official stamps, keys to the premises of the mathematics school and a number of stamps thought to be forgeries of those used at the university.

    Athens News Agency

    [11] NATO forces 'hit' ASE

    Athens, 26/03/1999 (ANA)

    Fears over developments in the Balkans as NATO-led forces were ready to launch air strikes against Serb military targets hit the Athens Stock Exchange and pushed equity prices sharply lower on Wednesday.

    The general index dropped 4.57 percent to 3,471.48 points, off the day's lows of 3,359.61.

    Traders said reports that Serbs were willing to resume talks with the West on the Kosovo issue helped in the partial recovery of the market as large institutional investors, mainly banks, bought blue-chip stocks to support the market.

    Analysts predicted that the Greek market would remain nervous awaiting developments in Kosovo.

    Turnover was 199.931 billion drachmas and volume 27,445,808 shares.

    Sector indices suffered losses. Banks plunged 4.17 percent, Leasing dropped 5.15 percent, Insurance eased 3.91 percent, Investment fell 5.89 percent, Construction ended 5.46 percent off, Industrials dropped 5.04 percent, Miscellaneous fell 4.48 percent and Holding ended 5.16 percent down.

    The parallel market index for small cap companies eased 3.99 percent and the FTSE/ASE 20 index ended 4.62 percent down to 2,164.84.

    Broadly, advancers led decliners by 263 to 16 with another 7 issues unchanged.

    National Bank, Piraeus Bank, Metrolife, Eskimo and Strintzis were the most heavily traded stocks.

    Tasoglou, Sigalas, Levenderis, Imperio, Klonatex, Zampa, Giannousis, Aspis Bank, Boutaris and Nafpaktos Mills scored the biggest percentage gains.

    Athens News Agency

    [12] Piraeus Bank-NatWest

    Athens, 26/03/1999 (ANA)

    Two days before the deadline to submit binding bids for the purchase of a majority stake in Ionian Bank expires, the Bank of Piraeus - a participant in the tender - on Wednesday announced it was taking control of National Westminster Bank's operations in Greece.

    NatWest's network includes five branches in Athens, Piraeus and Thessaloniki offering services to more than 11,000 customers. The bank's assets totalled 300 billion drachmas. NatWest's workforce in Greece totalled 190.

    NatWest's operations focused in foreign exchange deposits, corporate and maritime finance, money market and securities transactions. Bank of Piraeus Group includes the Bank of Piraeus, Macedonia-Thrace Bank, Xiosbank, Piraeus Prime and their affiliates in the sectors of leasing, stockbroking and asset management.

    The group's network totalled 145 branches with a workforce of more than 3, 000.

    Athens News Agency

    [13] Olympic Catering

    Athens, 26/03/1999 (ANA)

    The Capital Market Committee on Tuesday approved, on conditions, an Olympic Catering's share capital increase scheme and a public offering of new shares.

    The committee also approved a public offering of existing shares by Olympic Airways, its main shareholder, paving the way for the privatisation of Olympic Catering through the Athens Stock Exchange.

    Athens News Agency

    [14] Athens Foreign Exchange

    Athens, 26/03/1999 (ANA)

    Bank of Greece closing rates of: March 25, 1999

    Parities in Drachmas

    Banknotes             Buying  Selling
    US Dollar             294.624 301.455
    Can.Dollar            194.829 199.346
    Australian Dlr        187.810 192.165
    Pound Sterling        482.152 493.331
    Irish Punt            409.036 418.520
    Pound Cyprus          556.909 569.821
    Pound Malta           710.661 740.272
    Turkish pound (100)     0.073   0.076
    French franc           49.110  50.249
    Swiss franc           202.259 206.948
    Belgian franc           7.986   8.171
    German Mark           164.709 168.528
    Finnish Mark           54.180  55.436
    Dutch Guilder         146.182 149.571
    Danish Kr.             43.368  44.374
    Swedish Kr.            35.893  36.725
    Norwegian Kr.          38.212  39.098
    Austrian Sh.           23.411  23.954
    Italian lira (100)     16.637  17.023
    Yen (100)             250.916 256.734
    Spanish Peseta          1.936   1.981
    Port. Escudo            1.607   1.644
    
    Foreign Exchange      Buying  Selling
    New York              294.624 301.455
    Montreal              194.829 199.346
    Sydney                187.810 192.165
    London                482.152 493.331
    Dublin                409.036 418.520
    Nicosia               556.909 569.821
    Paris                  49.110  50.249
    Zurich                202.259 206.948
    Brussels                7.986   8.171
    Frankfurt             164.709 168.528
    Helsinki               54.180  55.436
    Amsterdam             146.182 149.571
    Copenhagen             43.368  44.374
    Stockholm              35.893  36.725
    Oslo                   38.212  39.098
    Vienna                 23.411  23.954
    Milan                  16.637  17.023
    Tokyo                 250.916 256.734
    Madrid                  1.936   1.981
    Lisbon                  1.607   1.644
    
    Athens News Agency

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