Athens News Agency: Daily News Bulletin in English, 99-04-16

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

CONTENTS

[01] Simitis,Kostov agree on intensification of initiatives to defuse Kosovo crisis

[02] Bear Stearns sees short-lived market volatility

[03] National Bank of Greece eyes FYROM bank

[04] Stocks slump on correction, Kosovo woes

[05] Gov't to hold nine securities auctions in May-June

[06] Primary budget spending grows 7.5 pct in Q1

[07] Gov't to revise CPI this year

[08] Silver & Baryte to boost share capital

[09] Candidates for OA's management expected to be announced today

[10] Athens Foreign Exchange

[11] Supplies for French contingent in FYROM blocked by protesters

[12] British Foreign Secretary on Athens' role to resolve Kosovo crisis

[13] Clinton on Greek-Turkish relations

[14] Greece to coordinate humanitarian aid to Kosovo,Montenegro

[15] EU, Euro-Mediterranean Cooperation nations begins discussions at FM level

[16] Yugoslavia puts NATO bombing casualties at 5.000

[17] No increase of radioactivity levels reported

[18] Jewish leaders of Thessaloniki filed lawsuit for war reparations

[01] Simitis,Kostov agree on intensification of initiatives to defuse Kosovo crisis

SOFIA, 16/04/1999 (ANA - B. Borisov)

"We believe there must be initiatives to achieve peace as soon as possible. In this context, we hail the involvement or the decision for a more active presence of the UN in facing the problem," Mr. Simitis said.

"Mr. (UN chief Kofi) Annan made an appeal and we hope that this appeal will be accepted. The UN can, among others, provide the peacekeeping force which is necessary for peace to be secured in Kosovo and for the return of refugees...We also support whichev er initiatives of the European Union presidency and the EU in general," he added.

The Greek PM was in the Bulgarian capital for a meeting with his Bulgarian counterpart Ivan Kostov, as both men called for an immediate end to the NATO bombings of Yugoslavia and the convening of a conference of Balkan countries, including Yugoslavia, under European Union auspices.

"The idea is that in this conference, which would be convened after commencement of the peace process, all Balkan countries should participate. If all Balkan countries did not participate, then of course, it would not have achieved its objective, namely peace, progress and development for the entire Balkan region," Mr. Simitis told reporters when asked if Yugoslavia would participate in the conference.

"IThis conference, which will have to examine the development of the Balkans and the stability of the region, following a solution for the crisis in Kosovo, will aim at creating a economic-political framework for the Balkans, for the realisation of which all Balkan countries will cooperate.

"Greece has presented just such a plan to the EU for some time now...a solution to the Kosovo problem is not enough, there should also be a general development plan for the Balkans."

"The third point, on which we must pay special attention to, is the coordination of humanitarian aid for the Kosovo refugees," the Greek premier said.

He also noted that there is not a quick and easy solution to this serious humanitarian problem, adding that "the help, given by different countries must be coordinated so as to have the greater possible effect."

Mr. Simitis announced that top-level consultations would begin in Athens next week between the countries bordering Yugoslavia with the aim of adopting a common stance and policy regarding the Kosovo refugee tragedy.

The Greek PM also said he briefed his Bulgarian counterpart on the results of the extraordinary European Union summit on the issue.

"Greece's stance, as I presented it yesterday (Wednesday) in Brussels and presented today (Thursday) to Mr. Kostov is as follows: there is a framework of decisions of NATO. This framework of decisions is the one to determine the directions of policy."

Mr. Simitis said that Greece is of the same opinion with France and Germany, namely, that a continuation of the war in Kosovo "is negative and for that reason we should find a solution now."

On his part, Mr. Kostov thanked his guest for the briefing over the Brussels meeting, while he welcomed Greece's initiatives.

"Our two countries are in favour of a speedy, peaceful and just resolution of the crisis, considering tht a scenario of a prolonged crisis without a peaceful solution will not only cause huge economic losses, but also social and political destabilisatio n of another kind.

"Secondly, we hail the idea for the convening of a Balkan conference with the participation of all Balkan countries and with the European Union member-states, the United States and Russia - a conference, which following the acheivement of a peaceful resolution of the crisis, will pave the way for the economic restoration of the region.

"We consider it a success of Greece that is was able to convince the other EU member-states for the need of holding this conference, which will work for the economic aspects of this crisis. It is assumed that such a conference will be very beneficial for Bulgaria, if it examines the issue of its economic restoration and the negation of the effects of the war operations."

Gov't spokesman : Meanwhile, government spokesman Dimitris Reppas, during his regular press briefing yesterday, described Wednesday's attack on a column of Kosovar refugees as "a tragic event".

"It is however not enough to express sorrow. This is the abhorrent face of war and the consequences of choices which downgrade the human factor," Mr. Reppas said.

Replying to questions, the spokesman said Greece was "exhausting all limits and possibilities" as a member both of NATO and the European Union and in its capacity as a Balkan country to contribute to efforts aimed at resolving the Kosovo crisis.

Mr. Reppas reiterated that Greek forces would not take part in any military operations in Yugoslavia by NATO ground troops.

Asked about the inclusion of the Ionian in the war zone, he indirectly acknowledged that there were certain problems but said merchant shipping routes were largely unaffected.

When asked about the possibility of Greece accepting refugees from Kosovo, the spokesman initially reiterated the government's position that no refugees will be accepted unless there is some comprehensive European plan to tackle the problem.

He predicted, however, that if the issue were raised at a bilateral level, for example to Greece by the Former Yugoslav Republic of Macedonia (FYROM) or by Albania, "it might be examined in a different light, but always subject to certain conditions".

Mr. Reppas clarified that such an issue had not been raised.

Athens News Agency

[02] Bear Stearns sees short-lived market volatility

Athens, 16/04/1999 (ANA)

Bear Stearns backed Greek bonds as an investment due to the country's progress towards alignment with the European Union in a report on the market.

It also forecast that the Greek market would skyrocket on resolution of the Kosovo crisis.

The report said the yield spread between Greek bonds and German bunds was nearing 1.82 percent. This was the spread on March 22 when hostilities broke out.

Athens News Agency

[03] National Bank of Greece eyes FYROM bank

Athens, 16/04/1999 (ANA)

Mr. Karamouzis senior National Bank officials met the country's prime minister and economics minister in Skopje in order to discuss finalising the transaction.

The two sides agreed that negotiations would begin, and checks on a valuation of Stopanska Banca by international auditors and National Bank.

After the check is complete, National Bank is expected to submit a final binding offer accompanied by a business plan.

The FYROM bank has a network of around 100 branches and assets of more than 330 million dollars.

Athens News Agency

[04] Stocks slump on correction, Kosovo woes

Athens, 16/04/1999 (ANA)

The general index ended 91.70 points, or 2.46 percent lower at 3,640.94. Traders said the market needed a correction following its 19.6 percent ascent in the last seven sessions from 3,120 to 3,732 points.

Fading hopes of a diplomatic initiative by the European Union to end the Kosovo crisis and renewed talk of a ground war in Yugoslavia discouraged traders.

Eurobank's shares again declined on the second day of trade. The stock ended 4.57 percent lower at 17,375 drachmas off the day's lows of 16,750 drachmas, or 8.0 percent down, in heavy volume of 2,246,970 shares totalling 38.699 billion drachmas.

The heavy volume caused a one-hour breakdown in the market's electronic trading system.

Sector indices suffered losses. Banks dropped 2.79 percent, Leasing eased 3.80 percent, Insurance fell 0.11 percent, Investment ended 1.05 percent lower, Construction eased 0.27 percent, Industrials dropped 3.09 percent, Miscellaneous fell 0.86 percent and Holding was 0.06 percent off.

The parallel market index for small cap companies fell 0.49 percent.

Turnover was 153.197 billion drachmas and volume 23,061,636 shares. The FTSE/ASE 20 index ended 2.78 percent lower at 2,292.52 points.

Broadly, decliners led advancers by 172 to 109 with another 11 issues unchanged. Eurobank, Naoussa, Oinerga and Strintzis were the most heavily traded stocks.

Desmos, Zampa, Tasoglou, Mouriadis, Ergodata, Dimitriadis, Klonatex, Aspis Housing, Macedonian Textiles and Daring scored the biggest percentage gains hitting the day's 8.0 percent limit up.

Korfil, Alysida, General Warehouses, Remek, Sportsman, Edrasi, Boutaris, Despec and Vis suffered the heaviest losses.

National Bank of Greece ended at 21,710 drachmas, Alpha Credit Bank at 23, 000, Ergobank at 28,150, Ionian Bank at 19,595, Titan Cement at 22,900, Hellenic Petroleum at 2,465, Intracom at 20,070, Minoan Lines at 7,680, Panafon at 7,965 and Hellenic Telecoms at 6,870.

Bond, forex markets quiet in dull trade : Bond prices were flat yesterday in scant trade and the drachma held steady, traders said.

The new ten-year-bond was at 104.30, showing a yield of 5.71 percent. The yield spread with German bunds was 1.88 percent. Electronic trade totalled 42 billion drachmas from 41 billion drachmas a day earlier.

At the central bank's daily fix, the euro ended at 324.500 from 324.410 drachmas in the previous trading session.

Athens News Agency

[05] Gov't to hold nine securities auctions in May-June

Athens, 16/04/1999 (ANA)

He noted that bond prices were satisfactory and that Greece in February had met the European Union's long-term interest rate criterion for entry into the euro zone.

Mr. Christodoulakis predicted a substantial decline in yields on state securities by the end of 1999 following an anticipated drop in inflation.

He said that a recent cut in euro rates would favourably affect the Greek bond market as it would increase demand for domestic securities and help yields to fall further.

Mr. Christodoulakis also said that the finance ministry would launch a 20- year bond after inflation neared the 2.0 percent target.

The state borrowing programme is follows.

An auction of 15-year bonds will be held on on May 4, 10-year bonds a week later, and 3-year bonds on May 18.

On May 25, the finance ministry will auction 12-month tax-free savings bonds, and then five-year bonds on June 1.

A week later it will auction six-month T-bills, on June 15 three-month T- bills, on June 22 seven-year bonds and on June 29 12-month tax-free savings bonds.

Athens News Agency

[06] Primary budget spending grows 7.5 pct in Q1

Athens, 16/04/1999 (ANA)

However, primary spending fell 0.7 percent compared with the same period last year, lower than the annual target.

Athens News Agency

[07] Gov't to revise CPI this year

Athens, 16/04/1999 (ANA)

The national economy ministry, which is responsible for NSS, has yet to take a final decision on changes to the index, which was last revised in 1994.

Athens News Agency

[08] Silver & Baryte to boost share capital

Athens, 16/04/1999 (ANA)

Shares at 5,000 drachmas will be sold in a rights issue with preference rights. The advisor is Telesis Securities.

The company had consolidated turnover of 57.8 billion drachmas in 1998, up 34 percent on 1997.

Pre-tax profits last year were 5.0 billion drachmas last year, up 93 percent on a year earlier.

Athens News Agency

[09] Candidates for OA's management expected to be announced today

Athens, 16/04/1999 (ANA)

The National Investment Bank for Industrial Development (ETEBA) and the firm Smith and Solomon have already submitted initial choices to the national economy minister.

According to speculation, candidates include British Airways, Lufthansa, a US firm and Swissair.

Athens News Agency

[10] Athens Foreign Exchange

Athens, 16/04/1999 (ANA)

Parities in Drachmas

Banknotes              Buying  Selling
US Dollar              298.473 305.393
Can.Dollar             199.293 203.913
Australian Dlr         189.164 193.550
Pound Sterling         481.398 492.559
Irish Punt             408.734 418.210
Pound Cyprus           556.512 569.415
Pound Malta            714.185 743.943
Turkish pound (100)      0.070   0.073
French franc            49.074  50.212
Swiss franc            200.741 205.395
Belgian franc            7.980   8.165
German Mark            164.587 168.403
Finnish Mark            54.140  55.396
Dutch Guilder          146.074 149.461
Danish Kr.              43.313  44.317
Swedish Kr.             36.059  36.895
Norwegian Kr.           38.625  39.520
Austrian Sh.            23.393  23.936
Italian lira (100)      16.625  17.010
Yen (100)              250.659 256.470
Spanish Peseta           1.934   1.979
Port. Escudo             1.606   1.643

Foreign Exchange       Buying  Selling
New York               298.473 305.393
Montreal               199.293 203.913
Sydney                 189.164 193.550
London                 481.398 492.559
Dublin                 408.734 418.210
Nicosia                556.512 569.415
Paris                   49.074  50.212
Zurich                 200.741 205.395
Brussels                 7.980   8.165
Frankfurt              164.587 168.403
Helsinki                54.140  55.396
Amsterdam              146.074 149.461
Copenhagen              43.313  44.317
Stockholm               36.059  36.895
Oslo                    38.625  39.520
Vienna                  23.393  23.936
Milan                   16.625  17.010
Tokyo                  250.659 256.470
Madrid                   1.934   1.979
Lisbon                   1.606   1.643

Athens News Agency

[11] Supplies for French contingent in FYROM blocked by protesters

Athens, 16/04/1999 (ANA)

The ship unloaded 48 containers and eight multi-purpose vehicles, all for transport to FYROM.

However, the convoy was later blocked before it reached the FYROM border by supporters of the Communist Party of Greece (KKE) and following minor scuffles between police and protesters it returned to Thessaloniki.

The demonstrators, about 100, erected a roadblock near the Polykastro bridge, sealing off the road with cars and trucks.

The demonstrators are opposed to the passing of NATO forces through Thessaloniki en route to FYROM, claiming that they will be used in a possible ground war by NATO against Yugoslavia.

In a related development, 37 German Leopard II tanks have been in storage at the port for the past 20 days, which according to reports will reinforce the German contingent in FYROM.

Finally, on April 24 trade unionists of the Panlabour Struggle Front (PAME) intend to surround the army camp in the area where, according to a PAME official, German tanks are being stored before being transported to FYROM.

Some 200 PAME members will also head to Yugoslavia, via Bulgaria, next week to join the "human shields" protecting bridges and buildings from bombings.

Athens News Agency

[12] British Foreign Secretary on Athens' role to resolve Kosovo crisis

LONDON, 16/04/1999 (ANA - L. Tsirigotakis)

"We realise Greece's special position as a full member of NATO and the European Union, as well as a country in the Balkan region, the sole member- state of NATO and the European Union in this region," he said.

"For these reasons, Greece has a special role. Firstly, it conveys the views of the region to us and at the same time it functions as our representative with the countries in the region. I express great satisfaction over the initiatives Greece has undert aken to promote stability and cooperation in the entire region and I believe that this is one of the very positive factors emerging from this crisis in the Balkans. It is a new conception in the area of southeastern Europe for the need for greater regiona l cooperation between its countries," he added.

Athens News Agency

[13] Clinton on Greek-Turkish relations

WASHINGTON, 16/04/1999 (ANA - T. Ellis)

Speaking in California to a gathering of that state's newspaper managing editors, Mr. Clinton said Orthodoxy and Islam meet in the Balkans at the borders of Greece and Turkey, while he stressed Washington's intention to actively contribute to the peace ful co-existence, not only of the two countries, but of both religious faiths.

Mr. Clinton added that during the last six years of his term he did not achieve any progress on the issue but noted that there was no worsening.

The US president also asked for ideas from those present that could aid him in efforts to assist in the improvement of Greek-Turkish relations.

Athens News Agency

[14] Greece to coordinate humanitarian aid to Kosovo,Montenegro

Athens, 16/04/1999 (ANA)

She had previously chaired a meeting focusing on issues concerning the coordination of Greece's activities for the sending of humanitarian aid to Albania, the Former Yugoslav Republic of Macedonia (FYROM) and Serbia through non-governmental organisation s.

"We have already created three settlements in Albania which, at an initial stage, can host about 5,000 people," she said.

According to the minister, other non-Balkan countries have requested permission for vehicles carrying humanitarian aid to cross through Greece, adding that the proposal has been accepted.

Ms Papandreou said permission will be granted for refugees to go to other countries from FYROM via Greece. Refugees will head to Turkey, the United States and Australia, while quite a few have already left for Germany.

Commenting on the Kosovo crisis, she said unfortunately the situation is unpleasant, adding that economic repercussions can be considerable for the country, particularly if the situation lasts for a long time. She said that all this is being evaluated a nd the EU is being informed, because the issue does not concern Greece alone.

Among others, the meeting was attended by National Defence Minister Akis Tsohatzopoulos and Public Order Minister Mihalis Chrysohoidis.

Athens News Agency

[15] EU, Euro-Mediterranean Cooperation nations begins discussions at FM level

STUTTGART, 16/04/1999 (ANA - I. Afentouli)

The agenda also includes the processing of a charter on peace and stability in the Mediterranean. Libya is attending this third EuroMed conference at a foreign minister level for the first time as an observer.

The other non-EU countries participating are Algeria,Cyprus, Egypt, Israel, Jordan, Malta, Morocco, the Palestinian self-rule areas, Syria, Tunisia and Turkey.

Greece is represented by Foreign Minister George Papandreou.

Mr. Papandreou spoke of a framework of principles of good neighbourliness in the Mediterranean based on the acceptance of international organisations for resolving differences, such as the International Court of Justice at The Hague, as well as the acce ptance of a peaceful solution to conflicts and respect for the inviolability of borders.

He said human rights will have a dominant position in this charter for security in the region, comparing the crisis in the Balkans currently with instability existing in the Mediterranean region. He also referred to the Cyprus issue and, as he noted, it s solution would radically change the security charter in the region.

"The Cyprus problem has a wider influence on security in the Mediterranean. We cannot ignore it when we speak of the region. However, we would not like to involve it in Euromediterranean cooperation which is a forum which pursues convergence and not con frontation and which, unfortunately, is affected negatively by all that is happening in the Middle East issue," he said.

Athens News Agency

[16] Yugoslavia puts NATO bombing casualties at 5.000

BELGRADE, 16/04/1999 (ANA - M. Mouratidis)

Releasing a catalogue of damages and casualties, ministry spokesman Neboja Vuyovic said that 75 ethnic Albanians had been killed in Wednesday's NATO bombing of a refugee convoy.

The spokesman said the casualties from a NATO hit on a passenger train earlier in the week had risen from an initial 10 to about 55.

Eight bridges have been destroyed, and a further nine have suffered serious structrual damage.

Also seriously damaged are nine railway stations, seven roadways, seven airports, 30 factories and plants, 13 oil refineries and storage facilities, four farming cooperatives and 14 hospitals. More than 150 schools have also suffered damage from the bom bings.

The Yugoslav spokesman added that nine public buildings and ministries had been destroyed or badly damaged and there was serious damage to seven hydroelectric and power plants and state telecommunications stations.

He said all initiatives so far, even that of Germany's on Wednesday, were suspect, given that Germany was participating in the bombing, while referring to the stance of other countries, such as Croatia, as "unacceptable", for allowing troops and NATO planes to bomb Yugoslavia.

Mr. Vuyovic also had criticism for UN Secretary General Kofi Annan, saying he should have undertaken initiatives before the bombing started and that any new initiatives now had to wait for the bombing to stop.

Referring to Greece, Mr. Vuyovic said Belgrade considered the fact that Athens was not involved in the bombing important but said the government "could do more, like the Greek people, for peace".

Athens News Agency

[17] No increase of radioactivity levels reported

Athens, 16/04/1999 (ANA)

EEAE made the announcement due to various reports in the press alleging increased radioactivity related to bombings in Yugoslavia.

EEAE's announcement said measurements of environmental radioactivity are complex, requiring specialised staff and infrastructure, while it is necessary for them to be carried out by accredited laboratories and experienced scientists.

The agency is the relevant body responsible for protecting the country from repercussions stemming from ionised radiation.

Athens News Agency

[18] Jewish leaders of Thessaloniki filed lawsuit for war reparations

Athens, 16/04/1999 (ANA)

The hearing will take place at a Thessaloniki first instance court.

Leaders of the northern port city's Jewish community paid the occupation forces in Greece the money to liberate some 2,000 Thessaloniki Jews from forced labour for the Axis occupiers of Greece in 1942.

About 50,000 Thessaloniki Jews were killed during the Nazi occupation of Greece, obliterating one of the largest and most vibrant Sephardic Jewish communities in the world. An estimated 70,000 Greek Jews died during the Nazi occupation of Greece.

Jewish community leaders will hold a memorial service on Sunday in the northern capital and lay a wreath at the city's Jewish Holocaust memorial for the victims.

Culture Minister Elizabeth Papazoi will leave for the US this morning to attend the inauguration of the Metropolitan Museum of New York's Greek exhibitions.

She will also deliver an address at Harvard tomorrow afternoon on the issue of "Values of Greek Culture and their Strength in the 21st century."

The Greek minister will attend the Metropolitan exhibitions' inauguration by Prime Minister Costas Simitis on Monday. Finally, she will leave for Lausanne on Wednesday to meet with International Olympic Committee president Juan Antonio Samaranch.

A makeshift bomb exploded at dawn yesterday outside a US car manufacturer's showroom in a northern Athens suburb, causing damage to three parked cars but no injuries. Police said the explosive device, comprised of liquid gas cannisters exploded at 5 a.m . outside of Detroit-based General Motors in Maroussi.

Athens News Agency

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