Athens News Agency: Daily News Bulletin in English, 99-04-08

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

CONTENTS

[01] Cyprus' Kyprianou in Belgrade to discuss release of 3 US soldiers

[02] Economy shows staying power in Kosovo crisis

[03] March inflation slows to 3.4 pct from 3.7 pct

[04] Stocks power ahead, sprint through 3,500 pts

[05] Athens bourse okays share cap rise for National Bank

[06] Banks in Piraeus Group post 353 pct profit jump in Q1

[07] Brokerage turnover totals Dr 6.9 trillion in March

[08] Panafon reports 91 pct jump in subscribers

[09] Albio Viokarpet to launch electricity output unit

[10] Athens Foreign Exchange

[11] BBC phone interview with Tsohatzopoulos

[12] First Kosovo refugees Greece to host expected over the weekend

[13] US envoy explains reasons behind NATO's rejection of unilateral ceasefore

[14] AEK Athens friendly in Belgrade meets with success

[15] Artists against bombing, all military operations in Kosovo

[16] Anti-war concerts in Belgrade

[17] US ambassador says no travel advisory issued citing Greece

[01] Cyprus' Kyprianou in Belgrade to discuss release of 3 US soldiers

Athens, 08/04/1999 (ANA)

Mr. Kyprianou, the acting Cyprus president, requested from Yugoslav President Slobodan Milosevic a meeting on the possibility of gaining the three army soldiers' freedom, seen as a possible springboard for an end to NATO bombings and the resumption of dialogue for a solution to the Kosovo crisis.

"I have undertaken an initiative of a purely humanitarian content with the release of the three Americans...since their detention serves absolutely no purpose. I believe that their release will contrubute to detente, to the easing of tension, it will give satisfaction to the American people and will be a token of additional goodwill on the part of Yugoslav President Slobodan Milosevic," he told reporters upon arrival in Athens.

"The aim of all of us, in view of the major dangers existing in the region, must be de-escalation and peace. Of course, there are certain principles which we must base ourselves on and which we cannot violate. The same principles on which we in Cyprus base our struggle for freedom, restoration of human rights and continuous territorial integrity," he said, noting that although Athens was not involved or kne w of the initiative, it now fully supports the effort.

"I will not get involved - and this is my intention for the time being - in any political initiative. The understanding I have reached with Yugoslavia's leadership and with Mr. Milosevic personally is that we shall discuss the specific humanitarian issue and the only thing I can say on the basis of messages I have received is that developments might be very positive," he said.

Replying to questions on whether he is hopeful of the three US army enlisted men's release, Mr. Kyprianou said "my hopes are considerable, without this meaning, of course, that I have reached an understanding with NATOII don't know what NATO is thinking ...it accepts the initiative but has its doubts as to its effectiveness."

Mr. Kyprianou was due to meet Alternate Foreign Minister Yiannos Kranidiotis last night since his departure for Belgrade was postponed for this morning.

Speaking prior to his departure from Larnaca airport, Mr. Kyprianou said he hoped his mission would be successful, because it would "help improve the situation regarding Kosovo..."

Responding to earlier questions, Mr. Kyprianou said he had requested a 24- hour ceasefire from NATO, enough for his arrival, stay and departure from Belgrade.

Cypriot Foreign Minister Ioannis Kasoulides, who was present at Larnaca airport, said Nicosia "fully supports the mission" and that it would be in continuous contact with Mr. Kyprianou in Belgrade.

Mr. Kasoulides said he himself had contacted the US and Yugoslav embassies in Nicosia, adding that the former welcomed the initiative, and that the latter had not placed any preconditions for the trio's release.

Greek gov't : In Athens, Greek government spokesman Dimitris Reppas corroborated that Mr. Milosevic had invited Mr. Kyprianou to Belgrade to discuss the issue of the captive US soldiers.

Sources said the three soldiers - Andrew Ramirez, 24, Steven Gonzales, 24, and Christopher Stone, 25 - would be transported to the Cypriot capital, Nicosia.

Political observers described the proposed release of the three men as a "gesture of good will" by Belgrade in view of Orthodox Christian Easter this Sunday.

Mr. Reppas also said Athens was in contact with all the sides involved to facilitate the transport of three soldiers from the Yugoslav capital, adding that Athens would provide a plane or other means.

The Greek spokesman reiterated that the government believed it was now more necessary than ever for a political solution to be found to the Kosovo crisis through dialogue.

He said Yugoslavia had a duty to prove reliable on its proposal for a unilateral ceasefire, adding that sufficient guarantees had not been forthcoming so far to render the Yugoslav government's proposal credible.

Asked to elaborate, Mr. Reppas said guarantees needed to be provided for the unhindered return of the refugees to their homes, withdrawal of the Yugoslav army from Kosovo, and the deployment of an international peace- keeping force in the region.

In tandem with Yugoslavia's provision of guarantees, there must also be a political approach on the part of the west so as to achieve dialogue on the issue, he added.

Finally, the government spokesman said the Kosovo issue would be a priority topic of discussion at the April 14 extraordinary European Union summit in Brussels, while the EU internal and foreign ministers' councils in their meetings today in Luxembourg would set out the EU's positions on the refugee issue, and more particularly the number of refugees to be taken in by each member-state.

Athens News Agency

[02] Economy shows staying power in Kosovo crisis

Athens, 08/04/1999 (ANA)

Mr. Papantoniou was speaking to reporters after a meeting chaired by Prime Minister Costas Simitis.

Also taking part were Bank of Greece governor Lucas Papademos and Tassos Giannitsis, head of the premier's economic bureau.

Mr. Papantoniou said that the drachma, bonds and interest rates had held up very well and that economic growth did not seem to be affected by the crisis.

He said that the economy had kept on track for entry into the euro zone despite financial crises in Asia and Russia last year, and the economy would remain unscathed if the situation in Kosovo improved.

The minister noted that inflation was continuing its downward trend, the public sector deficit was falling, and tax revenue in the first quarter of 1999 had shown a 100-billion-drachma surplus over the government's target.

Mr. Papantoniou said that the government's main priority was to draft a development programme for 2000-2006.

Athens News Agency

[03] March inflation slows to 3.4 pct from 3.7 pct

Athens, 08/04/1999 (ANA)

Athens News Agency

[04] Stocks power ahead, sprint through 3,500 pts

Athens, 08/04/1999 (ANA)

Traders said the market had in the previous two sessions begun to distance itself from the crisis and to focus more on positive economic fundamentals.

The general index ended 7.13 percent up at 3,535.66 points. Turnover was 126.857 billion drachmas and volume 20,321,407 shares.

The index now stands six percent off since the beginning of NATO air strikes in Kosovo, against 20 percent off last Thursday.

Dealers said stable conditions in the domestic bond and money markets and news of an expected drop in inflation to 3.4 percent in March also supported sentiment.

Sector indices scored big gains. Banks soared 8.0 percent, Leasing was 5.24 percent up, Insurance rose 6.80 percent, Investment increased 4.8 percent, Construction ended 7.63 percent up, Industrials surged 7.43 percent and Miscellaneous ended 5.70 perce nt higher.

The parallel market index for small cap companies ended 6.52 percent up while the FTSE/ASE 20 index jumped 7.11 percent to 2,213.34 points.

Broadly, advancers led decliners by 286 to three with another 6 issues unchanged.

Ergo Invest, Veterin, National Bank, Hellenic Telecoms and Alpha Credit Bank were the most heavily traded stocks.

A total of 142 shares hit the day's 8.0 percent limit up. Among them were National Bank, Alpha Credit, Macedonia-Thrace, Piraeus Bank, Commercial Bank, Ionian Bank, Ergobank, Intracom, Hellenic Bottling, Aktor, Gener and Papahellinas.

Kekrops, General Warehouses and Elfico were the only shares to end lower.

National Bank ended at 23,058 drachmas, Alpha Credit Bank at 23,166, Ergobank at 24,300, Ionian Bank at 19,872, Titan Cement at 24,430, Hellenic Petroleum at 2,480, Intracom at 19,332, Minoan Lines at 7,235, Panafon at 8, 000 and Hellenic Telecoms at 6,9 50.

Bond prices nose up on Kosovo hopes : Bond prices yesterday gained 40-45 basis points in thin trade on hopes that a political solution may be found to the Yugoslav crisis.

The new 10-year bond was at 103.20, taking the yield spread with German bunds to 1.93 percent from 1.96 percent in the previous session.

Electronic trade totalled 24 billion drachmas from 59 billion drachmas a day earlier.

At the central bank's daily fix, the euro ended at 324.960 drachmas from 326.480 drachmas in the previous session.

Athens News Agency

[05] Athens bourse okays share cap rise for National Bank

Athens, 08/04/1999 (ANA)

The state-run bank plans to use the proceeds to fund expansion plans, invest in the latest banking technology, and strengthen its position before the country's entry into the euro zone.

Athens News Agency

[06] Banks in Piraeus Group post 353 pct profit jump in Q1

Athens, 08/04/1999 (ANA)

Bank of Piraeus' first quarter profits increased to 8.4 billion drachmas from two billion, Macedonia-Thrace Bank reported profits of 3.5 billion drachmas following losses of 0.5 billion, and Xiosbank's profits rose from 1.8 to 3.4 billion drachmas.

The group's consolidated profits rose to 22.2 billion drachmas in January- March, up from 5.6 billion in the same period last year.

Athens News Agency

[07] Brokerage turnover totals Dr 6.9 trillion in March

Athens, 08/04/1999 (ANA)

Topping the list were Alpha Brokerage (8.86 percent), Sigma Securities (5.10 percent) and National Securities (4.92 percent). Excluding block trades and stock buybacks, turnover was 6.0 billion drachmas.

Ranking top were Sigma Securities, Alpha Brokerage and Hellenic Securities.

Athens News Agency

[08] Panafon reports 91 pct jump in subscribers

Athens, 08/04/1999 (ANA)

In January-March, the rise was 58.6 percent from 122,206 new subscribers against the same period of 1998.

Panafon's services are sold in over 2,000 retail outlets around the country. More than 500 outlets of the total were added in the first three months of the year.

Athens News Agency

[09] Albio Viokarpet to launch electricity output unit

Athens, 08/04/1999 (ANA)

The unit will be the first in the country to fall under the government's energy business programme, which has funding from the European Union's Second Community Suppport Framework.

Athens News Agency

[10] Athens Foreign Exchange

Athens, 08/04/1999 (ANA)

Parities in Drachmas

Banknotes             Buying  Selling
US Dollar             298.334 305.251
Can.Dollar            197.666 202.249
Australian Dlr        187.280 191.622
Pound Sterling        476.220 487.261
Irish Punt            409.313 418.803
Pound Cyprus          558.298 571.242
Pound Malta           713.854 743.598
Turkish pound (100)     0.072   0.075
French franc           49.144  50.283
Swiss franc           201.971 206.654
Belgian franc           7.991   8.176
German Mark           164.820 168.641
Finnish Mark           54.217  55.474
Dutch Guilder         146.280 149.672
Danish Kr.             43.382  44.388
Swedish Kr.            36.079  36.916
Norwegian Kr.          38.519  39.412
Austrian Sh.           23.427  23.970
Italian lira (100)     16.649  17.035
Yen (100)             246.125 251.832
Spanish Peseta          1.937   1.982
Port. Escudo            1.608   1.645

Foreign Exchange      Buying  Selling
New York              298.334 305.251
Montreal              197.666 202.249
Sydney                187.280 191.622
London                476.220 487.261
Dublin                409.313 418.803
Nicosia               558.298 571.242
Paris                  49.144  50.283
Zurich                201.971 206.654
Brussels                7.991   8.176
Frankfurt             164.820 168.641
Helsinki               54.217  55.474
Amsterdam             146.280 149.672
Copenhagen             43.382  44.388
Stockholm              36.079  36.916
Oslo                   38.519  39.412
Vienna                 23.427  23.970
Milan                  16.649  17.035
Tokyo                 246.125 251.832
Madrid                  1.937   1.982
Lisbon                  1.608   1.645

Athens News Agency

[11] BBC phone interview with Tsohatzopoulos

LONDON, 08/04/1999 (ANA - L. Tsirigotakis)

During a telephone interview and in reply to a question on whether he considers the ceasefire proposal by Yugoslav leader Slobodan Milosevic as correct, he answered: "I think it was a correct step in the right direction at this moment, but it must be supplemented with many other preconditions which are necessary for a peaceful solution to the crisis to be secured."

In earlier statements, Mr Tsohatzopoulos stated that "naturally, there are proposals by everyone, how a settlement to the problem could be promoted from this first step, however, by also meeting some other terms requiring guarantees, such as the safe re turn of the refugees in the presence of international forces that will guarantee a productive dialogue toward the settlement of the problem as well as a corresponding end to the existing state of conflict...".

Athens News Agency

[12] First Kosovo refugees Greece to host expected over the weekend

SKOPJE, 08/04/1999 (ANA - S. Tzimas)

Mr. Papandreou stayed in Skopje for a few hours and left for Tirana in the evening with his FYROM counterpart Alexander Dimitrov.

Visiting a large refugee camp near Skopje, Mr. Papandreou termed the refugee problem "a disgrace for the end of the century."

Commenting on concern over the future of FYROM, he said "Greece will help in having the country's territorial integrity preserved and will strive to see that borders will not change in the region."

Referring to his visit to Albania, he said he and Mr. Dimitrov were due to meet last night with Albanian Prime Minister Panteli Majko, "to restore good cooperation between Skopje and Tirana on the refugee issue."

Mr. Papandreou met with FYROM President Kiro Gligorov, Prime Minister Ljupco Georgievski and Democratic Alternative party President Vassili Topurkovski.

Meanwhile, Mr. Gligorov, on his part, noted that the Kosovo crisis has brought Greece and FYROM closer.

"This crisis has certainly assisted in furthering our relations, it helped overcome problems", while he called Greece a "strong country that plays a major role in the region".

The FYROM leader also made a general reference to the pending issue of FYROM's name, saying this was an issue that would be resolved by improving the already good relations between Athens and Skopje.

Athens News Agency

[13] US envoy explains reasons behind NATO's rejection of unilateral ceasefore

Athens, 08/04/1999 (ANA)

Mr. Burns was speaking to reporters after a meeting with Development Minister Evangelos Venizelos at the National Tourist Organisation (EOT), when asked to comment on Prime Minister Costas Simitis' statement late Tuesday night that Yugoslavia's unilater al ceasefire was the "first step" towards a political settlement of the Kosovo crisis.

The US envoy referred reporters to last night's "very clear" announcement by NATO and accused the Serbs of carrying out "barbarous ethnic cleansing" which went beyond "all concepts of humanity and moral values."

"They should be ashamed of what they're doing," he added.

Mr. Burns expressed a view that Yugoslav President Slobodan Milosevic's ceasefire offer was "not serious" because it made no mention of a withdrawal of Serb forces from Kosovo, nor the presence of an international peace-keeping force in the area, or the return of refugees to Kosovo.

"Mr. Milosevic gave no answer on these points," Mr. Burns said, adding that this was the reason why NATO rejected the ceasefire offer.

He added that Athens and Washington were cooperating "very effectively" on Kosovo, jointly making efforts to end the crisis.

"Greece is the only NATO country in the region which has historical and religious ties with Serbia. We understand public opinion in Greece with regard to the crisis in Kosovo," he said.

Mr. Burns said he had reiterated to Mr. Venizelos, as he had done with Foreign Minister George Papandreou and Defence Minister Akis Tsohatzopoulos, that "the US government does not believe Greece will be dragged into this conflict, nor do we believe ther e will be any kind of conflict between Greece and Turkey because of Kosovo". The US envoy said certain statements by US officials had been "misinterpreted" by the Greek press.

"We do not believe that there should be a change of borders in the Balkans, " Mr. Burns stated categorically, adding that US Deputy Secretary of State Strobe Talbott, who visited Greece earlier this week, had assured the Greek government that Washington did not support such a prospect.

On his part, Mr. Venizelos said "we must note and appreciate in particular" the US position in favour of no change of borders in the Balkans.

He also expressed satisfaction over the fact that Mr. Burns had clearly stated that he understood the Greek stance which is based on the country's dual identity as a European and Balkan state.

It is this dual identity, he added, that will allow Greece in the long term to play its role as a force for peace and security in the region.

Athens News Agency

[14] AEK Athens friendly in Belgrade meets with success

BELGRADE, 08/04/1999 (ANA - D. Karakostas)

A slight delay in AEK's arrival in Belgrade pushed the game back a half- hour, at 3:30 p.m.

At two stops they made on the way to Belgrade - one at Vojvodina and the second on the outskirts of Novi Sad - AEK players, team officials, reporters and political personalities from Greece received a rousing welcome from local residents.

AEK's management repeatedly stated over the past week that "sports were over and above politics" and that the team's visit to Belgrade was aimed at sending a message of peace and not politics.

Athens News Agency

[15] Artists against bombing, all military operations in Kosovo

Athens, 08/04/1999 (ANA)

The signatories include poet Manolis Anagnostakis, film director Theo Angelopoulos, composer Mikis Theodorakis, playwriter Iakovos Kampanellis (all from Greece), Romanian actress Majia Morgenstern and composer Harry Tavitian; Bulgaria's Ventzeslav Iotov , Turkish writer Sezer Duru, journalist Aydin Engin and writer Oral Calislar; Serbs Velislar and Zoritsa Kristich, Ukrainian Vitali Dovgasenko and Armenian Gagik Altounian.

The petition also demands the protection of civilians and the commencement of talks under UN auspices on Kosovo's future, as well as the province's autonomy and international guarantees for Yugoslavia's borders.

Athens News Agency

[16] Anti-war concerts in Belgrade

SOFIA, 08/04/1999 (ANA - B. Borisov)

Speaking in Sofia yesterday prior to his departure for Belgrade, he said "we want to focus on the victims of war. We want to say that this region wants peace, friendship and cooperation to forge ahead. We want the refugees to return to their homes."

"There can be no solution with weapons. 'Solutions' imposed with war are temporary solutions. They have a short-term and are futile. I wonder how reasonable people seeking to be a part of the civilised world are behaving in a way which one could not even immagine in the Middle Ages," he said.

Athens News Agency

[17] US ambassador says no travel advisory issued citing Greece

Athens, 08/04/1999 (ANA)

He did cite a "misunderstanding", saying the US embassy in Greece has not issued a travel advisory calling on American citizens to avoid travelling at present to Greece.

"There was no reason to do so under the current conditions," Mr. Burns said.

"We just corrected our Internet site following violent demonstrations outside our embassy in Athens and our consulate in Thessaloniki, and threats against our diplomatic staff here.

"We have the responsibility of informing the American public of the reality here, but we did not recommend against travelling to Greece".

He noted that there were many Americans currently in Greece who "were having a great time", and many Greek-Americans arriving for the Easter holiday.

Commenting on a decision to postpone an international tourism conference organised by the US embassy - scheduled for late April in Thessaloniki - Mr. Burns said the decision was based on the fact that due to the current situation in Kosovo, the climate was inappropriate for such a conference.

The conference is likely to be held in the autumn.

He added, however, that the US administration wanted to promote American tourism to Greece and vice versa.

On his part, Mr. Venizelos expressed satisfaction after the meeting with the US ambassador.

He said that during their meeting Mr. Burns noted that "Greece is a European country, completely safe as a travel destination".

The Greek minister added that neither Italy nor France had issued travel advisories against Greece.

Some concerns had been expressed in those countries primarily by headmasters, whose schools were due to visit Greece.

Athens News Agency Athens 08/04/1999 (ANA)

Important Notice: New ANA Services

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Advertisements will be accepted from embassies, banks, commercial and maritime companies, chambers of commerce, advertising companies, airlines, organisations, professional associations, educational and research institutions in Greece and abroad as well as international bodies.

Also, for a small fee, the above groups may channel their Press Releases (PRs), announcements or photographs - in Greek, English or French - to the ANA's more than 100 media subscribers throughout Greece and Cyprus via the recently introduced ANA on-lin e PR's service.

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