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Athens News Agency: Daily News Bulletin in English, 99-07-22

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] Greece, Bulgaria agree over accelerated Balkan Stability Pact
  • [02] Athens condemns latest Turkish provocation as minister's plane harassed
  • [03] Tsohatzopoulos calls for EU security guarantees in the Balkans
  • [04] G. Papandreou, Kasoulides cover latest developments on Cyprus issue
  • [05] Gov't: PM to meet with opposition leaders over efforts to combat crime
  • [06] Kranidiotis in Vienna for OSCE meeting
  • [07] Samaranch in Athens
  • [08] US-based efforts to promote Greek language, culture presented at Hellenic American Union
  • [09] Industry boss sees new anti-inflation measures
  • [10] Athens bourse decides today on bank takeover terms
  • [11] Tourism seen rising 10 pct, despite Kosovo crisis
  • [12] Stocks end slightly down after slump
  • [13] Papaellinas seeks Dr 30 bln share cap rise
  • [14] State telecom offers ATM services
  • [15] Intersat gets licence for new services
  • [16] Athens Foreign Exchange
  • [17] Giant mushroom found in N. Greece

  • [01] Greece, Bulgaria agree over accelerated Balkan Stability Pact

    Athens, 22/07/1999 (ANA)

    Athens and Sofia yesterday agreed that the works provided in the Stability Pact for the Balkans should proceed at a rapid pace.

    "The pact should not aim at tackling isolated problems but rather those of the Balkans as a whole," PM Costas Simitis said after talks with his Bulgarian counterpart Ivan Kostov who began an official two-day visit to Athens yesterday.

    "Greece has stated that the EU does not have an overall policy for the region and it must formulate one," Mr. Simitis added.

    Both leaders stressed that the criterion for tackling problems in the region should be the rules of international law, the international treaties in force and that the United Nations should play a more active role.

    "We are opposed to any change of borders in the Balkans or in Europe in general," both Mr. Simitis and Mr. Kostov said.

    Both premiers noted the good climate in relations between the two Balkan neighbours.

    In addition to bilateral relations, the talks also focused on the upgrading of Bulgaria's ties with the European Union.

    Mr. Simitis said that Greece would express its support for the immediate commencement of negotiations for Bulgaria's accession to the EU at the summit meeting in December.

    He added that preliminary negotiations concerning Bulgaria's accession had been completed with success and accession negotiations proper should now begin.

    Mr. Simitis said Greece would also support Bulgaria's bid to join NATO at the Alliance's next summit.

    In addition, the premier said, Greece will support Bulgaria's application within the EU to be removed from the so-called 'black list' of countries with respect to the Schengen Pact.

    "The restrictions on the movement of persons must be lifted because we desire greater facility of contact between our peoples. This is why we decided to create a free movement zone on either side of the Greek- Bulgarian border," Mr. Simitis said.

    On bilateral relations, the Bulgarian prime minister said Greece was Bulgaria's most important economic partner in SE Europe and this was evidenced by the volume of commercial transactions and the Greek presence in Bulgaria's privatisation process.

    "Greece is also an important political partner for Bulgaria, owing to its membership of the EU," Mr. Kostov added.

    During yesterday's talks, Mr. Simitis and Mr. Kostov agreed to submit joint proposals within the framework of the Stability Pact for the Balkans and to support the construction of Highway IV, which will connect SE Europe with the rest of the continent.

    In this latter respect, Mr. Simitis said Greece would support the construction of a second bridge over the Danube as far west as possible, which Bulgaria wants.

    Turning to the construction of the Burgas-Alexandroupoli oil pipeline, Mr. Kostov said Bulgaria supported the project and was ready to meet the Greek and Russian sides at the end of July to form the joint venture which will undertake construction.

    "We accept and agree fully that the pipeline should be built. But we believe that the project should be performed by private enterprises and be viable. From this point of view, there should be guarantees for the conveyance of a volume of oil which will make the project viable," Mr. Kostov said.

    Meeting with Karamanlis : Later yesterday, Mr. Kostov held talks with main opposition New Democracy party leader Costas Karamanlis.

    Mr. Karamanlis, who termed the meeting "useful", said that his party supports Bulgaria's efforts for accession to the European Union and NATO, adding that the main issue in their talks was the crisis in Yugoslavia and "the day after."

    Mr. Karamanlis reminded that the European People's Party (EPP) has ratified a plan by ND regarding "the day after" in the Balkans, which will also be discussed at the session of EPP party leaders in Sofia, Bulgaria, in October.

    The Bulgarian premier will be received today by President Kostis Stephanopoulos and meet with Parliament President Apostolis Kaklamanis.

    Athens News Agency

    [02] Athens condemns latest Turkish provocation as minister's plane harassed

    Athens, 22/07/1999 (ANA)

    Foreign Minister George Papandreou yesterday condemned the harassment of Transport Minister Tassos Mantelis' plane and the violation of Athens' Flight Information Region (FIR) by Turkish warplanes.

    He noted, however, that it will not affect efforts for de-escalation of tension between the two neighbouring countries.

    In a written statement, Mr. Papandreou said "I was informed that two aircraft of the Turkish airforce harassed, today (Wednesday) within Athens' FIR, the civilian aircraft trasporting Minister of Transport Tassos Mantelis from Cyprus to Athens.

    "I would like to condemn this action, which does not aid the de-escalation of tension in the relations between the two countries, at a time when the Turkish government has officially expressed its will for an improvement of the climate in our bilateral relations. I wonder which of these messages sent by Turkey are the most precise," he said, adding:

    "This event will not influence the effort we have undertaken toward de- escalating tension and improving our relations with Turkey...I ordered our ambassador to Ankara to protest strongly to the Turkish foreign ministry," Mr. Papandreou said.

    Defence Minister Akis Tsohatzopoulos stressed that Turkey is attempting to "hide its internationally recognised weaknesses with a policy of 'pseudo- bravado', through which it is elevated into an international troublemaker and a factor that dynamites rul es of safe air travel in the Aegean region."

    According to press reports, Mr. Papandreou, who will be in Sarajevo next week along with Prime Minister Costas Simitis to attend the summit of the southeastern European Stability Pact countries, will meet with his Turkish counterpart Ismail Cem and noti fy him that such actions do not aid the effort for the improvement of the climate in bilateral relations.

    Earlier, government spokesman Dimitris Reppas called the infringement of the Athens FIR a political act, carrying a negative message for efforts to improve Greek-Turkish relations.

    "This behaviour is not only military provocation, but a classic political act with a negative message for the attempted normalisation of relations between the two countries," Mr. Reppas said.

    Earlier in the day, defence ministry sources confirmed that two Turkish F- 16s had infringed on the Athens FIR and harassed the aircraft carrying Mr. Mantelis from Larnaca to Athens.

    They said the incident took place at 12:50 p.m. at an altitude of 28,000 feet south-east of Rhodes in air corridor RED-19, which connects Larnaca with the Dodecanese island.

    According to the sources, two Hellenic Air Force Mirage-2000 jets took off from Crete to intercept the Turkish aircraft which had exited the area by the time the Greek warplanes arrived.

    Main opposition New Democracy (ND) spokesman Aris Spiliotopoulos called the harassment of Mr. Mantelis' flight unacceptable.

    He also said that this action "confirms once again the provocative and offencive practice", followed by Turkey in its relations with Greece.

    He added that Turkey wants to maintain the tension and thus the government should take it under consideration during the Greek-Turkish dialogue set to begin on Monday.

    On its part, the Communist Party of Greece (KKE) the action part of an on- going scheme to divide the Aegean, which the party said is being promoted by Washington.

    "The Turkish 'friends' of the Simitis government today went as far as to harass the civil aircraft carrying the Greek transport minister, showing once again how they perceive the concept of the dialogue which the Greek government initiated on the demand of the United States," Democratic Social Movement (DHKKI) leader Dimitris Tsovolas said.

    Athens News Agency

    [03] Tsohatzopoulos calls for EU security guarantees in the Balkans

    VIENNA, 22/07/1999 (ANA - D. Dimitrakoudis)

    European Union guarantees for the security of Balkan nations are a condition for the reconstruction of both Kosovo and all the other countries in the region, Defence Minister Akis Tsohatzopoulos said after talks in Bregenz yesterday with his Austrian counterpart Werner Fasslabend.

    He added that Yugoslavia could not be separated from the entire reconstruction effort, and that humanitarian aid had an immediate priority in implementation.

    "Greece and Austria have a common interest in the European Union promoting a stable policy which will support reconstruction in the Balkans and the Stability Pact, but also a security policy.

    The two men also discussed the terms of peace and security in the broader region of SE Europe and the eastern Mediterranean.

    Mr. Tsohatzopoulos said the recent change of government in Israel posed new realistic prospects for peace, and stressed the need for support to the old peace plan for the Middle East, proposed by the late Swedish prime minister Palme, saying that this was the purpose of his recent trips to Saudi Arabia and Iran. More visits would follow to Israel, Palestine and north African countries.

    "The achievement of peace in the Middle East will positively affect other crisis points in the region, such as Cyprus or Greek-Turkish relations, but also developments in the region of the Caucasus," he added.

    Referring to his attendance in common with Mr. Fasslabend on Tuesday night of an opera based on Nikos Kazantzakis' work "Christ Recrucified" at the Bregenz Festival, Mr. Tsohatzopoulos said, "when defence ministers show interest and support cultural events the cause of peace is on a good path".

    During a joint press conference yesterday, the Greek minister described the Balkans as "a political barometer", stressing that the European Union should exhibit strong political will that will create the conditions for a new zone of stability in Kosovo and the Balkans.

    Mr. Fasslabend, on his part, welcomed the EU decision for the basing in Thessaloniki of a supervisory agency for Balkan reconstruction.

    Mr. Tsohatzopoulos, Foreign Minister George Papandreou, and Deputy FM Yiannos Kranidiotis are scheduled to take part in the two-day Balkan summit conference of the European Socialist Party (ESP) beginning today in the Austrian capital.

    The summit, to be chaired by ESP president Rudolf Scharping will discuss security, economic and social development, democracy and human rights in the Balkans.

    Athens News Agency

    [04] G. Papandreou, Kasoulides cover latest developments on Cyprus issue

    Athens, 22/07/1999 (ANA)

    Foreign Minister George Papandreou discussed at length with his Cypriot counterpart Ioannis Kas oulides yesterday the latest developments in the protracted Cyprus problem combined with the latest initiative by the G8 group and decisions recently taken by the UN Security Council.

    Alternate Foreign Minister Yiannos Kranidiotis was also present at the talks.

    Speaking afterwards, Mr. Papandreou said Greece and Cyprus are cooperating harmoniously and are "vigilant in expectation of the invitation by the UN Secretary-General for a start to talks for a solution to the problem".

    On his part, Mr. Kasoulides reiterated that the Greek Cypriot side is ready and possesses the necessary political will to come forward to dialogue with the Turkish Cypriots in the spirit of Security Council decisions.

    Mr. Kasoulides gave assurances that the Greek Cypriot side will observe a constructive stance during the negotiations to enable the finding of a mutually acceptable solution based on UN resolutions.

    He said that what the Greek Cypriots are not prepared to do or accept is to "accept whichever efforts move outside the framework of the UN or to accept the terms set by Turkish Cypriot leader Rauf Denktash for the recognition of his pseudo-state".

    Mr. Kasoulides further said that the Republic of Cyprus is awaiting the content of the invitation the UN Secretary-General will be extending with special interest.

    Asked whether the visit to Turkish-occupied territory in Cyprus by Turkish Prime Minister Bulent Ecevit, on Tuesday, and recent negative statements by the Turkish side concerning the Cyprus issue will affect Greek-Turkish dialogue, Mr. Papandreou said t he two processes should be separated.

    Mr. Papandreou said provocative statements of such a kind "are not pleasant of course", reminding, however, that the Turkish side takes similar positions every year on the occasion of the anniversary of the Turkish invasion of the island.

    He reiterated that the "low-level" issues which are included in a Greek- Turkish dialogue due to start on Monday, are not linked to the major issues existing between Greece and Turkey.

    Mr. Kasoulides pointed out on his part that "whatever effort to improve the climate in Greek-Turkish relations helps the effort of finding a solution to the major national issues."

    He spoke of three independent and parallel processes, one of which concerns Greek-Turkish dialogue on low-level issues, the second the efforts to resolve the Cyprus problem and the third Turkey's relations with the European Union.

    Mr. Kasoulides said that it is a question of three parallel courses, adding that "whatever progress is achieved in one of them will also help the other."

    He further said, giving an example, that "Turkey is sitting examinations at present" and that "if Turkey behaves like a European country in efforts to be made to resolve the Cyprus issue this will certainly help its relations with the EU as well."

    Earlier in the day, Mr. Kasoulides held talks with Alternate Foreign Minister Yiannos Kranidiotis.

    "Greece and Cyprus... will struggle united to overturn the faits accomplis of the invasion and occupation of the island," Mr. Kranidiotis told the press afterwards.

    He said the visit by Turkish Prime Minister Ecevit to the Turkish-occupied areas of Cyprus on Tuesday to mark the 25th anniversary of the invasion undermined the attempt at Greek-Turkish dialogue on low-level issues, with the first meeting to be held Monday.

    "And certainly, they do not help Turkey's European prospects," he added.

    Recognising that this dialogue "is not being held in a vacuum" and that the general atmosphere between Greek and Turkey would have an effect, Mr. Kranidiotis nevertheless said he hoped there would be a positive outcome from the talks that could have a run-off effect on larger issues, such as the Cyprus issue, which is not on the agenda of the talks.

    He called on the international community not to hold Cyprus to a double standard but to assist in finding a solution to the divided island and exert pressure on Turkey.

    He also asked Turkey to change its stance and respond to its international obligations by encouraging talks on the creation of a bizonal, bicommunal federation with one international identity and nationality.

    Saying Cyprus was best placed to be a new member of the European Union, Mr. Kranidiotis said that the island republic's accession course should proceed regardless of the political problem "which we must all undertake efforts to resolve."

    "Cyprus cannot be held hostage to Turkish intransigence and the international community must make clear that Turkey has no right of veto on Cyprus' accession course," he said.

    Mr. Kasoulides said the international community could make its own conclusions about the "disdainful" reactions from the Turkish and Turkish Cypriot leadership to the recent efforts, both by the G-8 and UN Security Council, in the direction of a resolut ion.

    The international community, he said, could not accept any of the demands pursued by Mr. Ecevit, "whether for recognition of the pseudo-state or anything else which could be considered a step towards such a recognition."

    Asked to comment on whether the apparent proposal from the international community to proceed to proximity talks, in accordance with statements by Anne Hercus, the UN resident representative on Cyprus, after her meeting with the Cypriot president, could be considered as the most "ambitious" of initiatives on resolving the Cyprus issue to date, Mr. Kasoulides said that if this intiative materialised then it would be the most ambitious to date, given the support voiced by the G8 countries and the good offices of the UN secretary-general.

    He said that if developments moved within the framework of the G8 communique, there was a real hope of resolving the problem.

    The G8 communique had set four basic principles: talks without guidelines or prerequisitives; all issues on the table for talks; political willingness from both sides to strengthen negotiations; and full note to be taken of the UN Security Council resolutions and the UN secretary-general should issue invitations to talks on the basis of these.

    Mr. Kasoulides noted that the Greek-Cypriot side had always indicated its readiness to contribute to finding a resolution on the basis of UN Security Council decisions.

    Athens News Agency

    [05] Gov't: PM to meet with opposition leaders over efforts to combat crime

    Athens, 22/07/1999 (ANA)

    Prime Minister Costas Simitis begins a series of consultations on crime- related issues with opposition party leaders tomorrow afternoon, when he will have separate meetings with Coalition of the Left and Progress leader Nikos Constantopoulos and Communist Party of Greece (KKE) Secretary General Aleka Papariga, it was announced yesterday.

    Government spokesman Dimitris Reppas said that Mr. Simitis would meet with main opposition New Democracy leader Costas Karamanlis on Monday, while an invitation had been issued to Democratic Social Movement (DHKKI) leader Dimitris Tsovolas for a meeting on Monday afternoon, which was accepted.

    Mr. Reppas expressed "surprise" and "regret" at what he termed the "suspicion" with which a section of Greece's media had treated the premier's decision to hold these meetings.

    He said it had been made clear from the outset that the premier "wishes to have these meetings take place in order to confront the problem of crime with the greatest possible consensus".

    Mr. Reppas said creating conditions of safety for the Greek citizens was a major priority, and the government wished to be informed of the positions and proposals of the other parties, "which could become components" of the government's policy in an effort to achieve "the maximum possible result".

    Replying to questions, he said that immigration issues would be included in the talks.

    Athens News Agency

    [06] Kranidiotis in Vienna for OSCE meeting

    Athens, 22/07/1999 (ANA)

    Alternate Foreign Minister Yiannos Kranidiotis will leave for Vienna today to address the Organisation for Security and Cooperation in Europe's (OSCE) Council of Permanent Representatives.

    According to a foreign ministry announcement, Mr. Kranidiotis will refer in his address to the OSCE's role and possibilities in maintaining peace and stability in Europe, which are issues which will also be discussed during the OSCE's summit in Istanbul this November.

    Mr. Kranidiotis will underline the important role played by Greece in the OSCE's various missions, particularly under the new conditions created in the wake of the Kosovo crisis and in this framework Mr. Kranidiotis will submit Greece's candidacy for th e OSCE's presidency for the year 2004.

    In another development, Mr. Kranidiotis will attend the European Socialist Party's conference on the Balkans on July 23 and speak on economic and social development in the Balkans.

    Athens News Agency

    [07] Samaranch in Athens

    Athens, 22/07/1999 (ANA)

    International Olympic Committee President Juan Antonio Samaranch arrived in Athens yesterday to open an IOC Academy working sessions.

    "I am not worried. Everything will go well," Mr. Samaranch said in reference to the resignation of the president of the 2004 organising committee, Stratis Stratigis, this month. He added that "we expect the Greek government will soon appoint a new presi dent".

    Prime Minister Costas Simitis is expected to announce the name of the new 2004 president tomorrow.

    Athens News Agency

    [08] US-based efforts to promote Greek language, culture presented at Hellenic American Union

    Athens, 22/07/1999 (ANA)

    A budding effort to reinvigorate the study and learning of the Greek language and Hellenic culture in the United States, especially in America's hundreds of higher education institutions, was presented in Athens yesterday evening by the American Foundation of Greek Language & Culture.

    Without minching his words, distinguished Greek-American and AFGLC president Chris Tsokos told an audience at the recently renovated Hellenic American Union that Greek-related studies, from classical to the modern-day, are often being downgraded at vari ous US universities - with academic giants such as Harvard affected as well.

    "It's important to educate Greek-Americans, but it's even more important to educate Americans on the contributions of Greece," Mr. Tsokos said, adding that the media across the Altantic and many young politicians in the United States are much less versed in what Greece has meant to western civilisation throughout the centuries.

    AFGLC was established by a group of philhellenes in order to showcase and promote the "historic and cultural role of Hellenic tradition and language". Its mission, as its organisers put it, is to assist in the preservation of the Greek language and culture in the United States through high-quality academic instruction in that country's universities and colleges.

    The foundation is headquartered in Florida as a non-profit organisation in the state, while AFGLC officials stressed that the organisation's goal is to establish a centre of Hellenic Studies (CHS) in the Florida university system. Five university chairs -modern Greek, Greek history, Greek culture, Greek Orthodoxy and political philosophy - are the first target by March 2000. The last university chair has already been established at the University of South Florida.

    HAU president and long-time New Hampshire Democratic Party leader and ex- state senator Chris Spyrou introduced Mr. Tsokos, while Political Spring (Pol.An) leader Antonis Samaras also made a brief address.

    Athens News Agency

    [09] Industry boss sees new anti-inflation measures

    Athens, 22/07/1999 (ANA)

    The government is likely to need new measures to combat inflation in order to meet its goal of taking the country into the euro zone on January 1, 2001, president Iason Stratos of the Federation of Greek Industry (SEB) said yesterday.

    Speaking to reporters, Mr. Stratos said the government should examine the entire price spectrum when considering new measures, and not restrict itself to oil. A proposal by SEB to the development ministry that a consumer tax on fuel should be reduced for industry was well received, but the final decision lay with the finance ministry, he added.

    Mr. Stratos also released the findings of a SEB survey that showed investments in industry rising sharply in 1998 on the basis of data from a sample of 3,485 companies.

    Fixed assets rose by 20.5 percent against 1997, employment in profitable firms rose by 1.4 percent, and sales by profitable companies rose by 12.6 percent, the survey showed.

    Price of gasoline up this week : Indicative prices for gasoline have risen for the coming week effective at midnight yesterday.

    Under the government's weekly review, diesel fuel and heating oil remained unchanged, the development ministry and Hellenic Petroleum said in a joint statement yesterday.

    The retail price hikes for gasoline are 1.6 drachmas per litre for super and unleaded.

    Athens News Agency

    [10] Athens bourse decides today on bank takeover terms

    Athens, 22/07/1999 (ANA)

    The Athens Stock Exchange is today likely to set the percentage for the acquisition of Ergobank by its two suitors, a bourse board member told the Athens News Agency.

    The board member rejected media reports that the stock exchange had already decided that EFG Eurobank needed 33.4 percent to gain control, and Bank of Piraeus 50.1 percent.

    The bourse was likely to keep to a 1992 precedent and set 50.1 percent as a blanket percentage for acquisition, he added.

    Also yesterday, Bank of Piraeus Group chairman Mihalis Sallas requested that the takeover figure should be the same for both bidders, a view endorsed by Ergobank, the target of the acquisition.

    According to the timescale, the two bidders have until July 29 to make new offers; until July 30 to withdraw existing offers; and until August 4 to announce how many shares in Ergobank they have collected.

    EFG Eurobank reports H1 results : EFG Eurobank, one of two bidders for Ergobank, said yesterday it posted net pre-tax profits of 73.1 billion drachmas in the first half, edging up to 73.3 billion drachmas on a consolidated basis.

    Consolidated data includes Cretabank, Luxembourg-based EFG Private Bank and affiliates in the financial sector.

    The EFG Banking Group's assets totalled around 2.4 trillion drachmas, up 90 percent on the same period of last year.

    Athens News Agency

    [11] Tourism seen rising 10 pct, despite Kosovo crisis

    Athens, 22/07/1999 (ANA)

    Development Minister Evangelos Venizelos said yesterday that tourism would rise around 10 percent despite the Yugoslav war.

    He was speaking after a meeting of the National Tourism Council called to debate the repercussions of the war on the sector.

    The impact was seen to be minimal. The number of US tourists had declined, but their numbers in normal circumstances were relatively few, Mr. Venizelos said.

    In addition, specific areas including Athens and Pieria had seen a decline but prompt measures taken by the government had paid off, minimising the negative impact, he added.

    Athens News Agency

    [12] Stocks end slightly down after slump

    Athens, 22/07/1999 (ANA)

    Equities rallied yesterday after diving early in the session on profit- taking in banks and industrials.

    The general index ended 0.28 percent lower at 4,471.22 points from 4,483.90 points a day earlier.

    Turnover was 164.127 billion drachmas with 25,961,747 shares changing hands.

    The market recouped most losses posted in early trade after players started buying into blue chip bank bargains.

    Also attracting investors were small and medium capitalisation stocks.

    Sector indices ended as follows: Banks (-0.50 pct), Leasing (+0.59 pct), Insurance (+1.70 pct), Investment (-3.63 pct), Construction (-0.67 pct), Industrials (-0.49 pct), Miscellaneous (+1.99 pct) and Holding (+5.06 pct).

    The parallel market index for smaller capitalisation stocks ended 1.78 percent higher.

    The FTSE/ASE 20 index for heavily traded stocks and blue chips dropped 0.31 percent to 2,626.82 points.

    Of 298 shares traded, advances outpaced declines at 149 to 138 with 11 issues unchanged.

    National Bank of Greece ended at 22,350 drachmas, Alpha Credit Bank at 21, 950, Bank of Piraeus at 8,980, Ergobank at 40,500, Titan Cement (common) at 31,000, Hellenic Petroleum at 2,835 and Intracom at 21,415.

    Bonds nose up in scant trade : Bond prices in the secondary market picked up a little steam late in the session yesterday on limited buying interest.

    Trade was thin, Electronic trade was 15 billion drachmas. Of the total, buy orders accounted for around 11.0 billion drachmas of turnover.

    The yield spread over German bunds was 173 basis points. At the central bank's daily fix, the euro crept up against the drachma.

    It was set at 324.900 drachmas from 324.500 drachmas in the previous session.

    Athens News Agency

    [13] Papaellinas seeks Dr 30 bln share cap rise

    Athens, 22/07/1999 (ANA)

    Papaellinas, which is listed on the Athens bourse, is to carry out a share capital rise of 30 billion drachmas with preference to existing shareholders.

    The cash will be used to repay a loan to allow the purchase of a 58 percent stake in Sportsman and a 31 percent stake in Lambropoulos.

    Athens News Agency

    [14] State telecom offers ATM services

    Athens, 22/07/1999 (ANA)

    Hellenic Telecommunications Organisation, which is listed on the Athens bourse, has begun offering Asynchronous Transfer Mode (ATM) international data link services and Internet Protocol.

    The services are for major customers, including multinationals and Internet providers.

    Athens News Agency

    [15] Intersat gets licence for new services

    Athens, 22/07/1999 (ANA)

    Intersat SA said yesterday that it had received a licence from the state's National Telecoms Commission to provide a package of services including Internet access and services and data transfer.

    The listed company aims eventually to move into land-based telephone services when state-owned Hellenic Telecommunications Organisation, which is also listed on the Athens bourse, loses its monopoly in 2001 under European Union law.

    Athens News Agency

    [16] Athens Foreign Exchange

    Athens, 22/07/1999 (ANA)

    Bank of Greece closing rates of: July 21, 1999

    Parities in Drachmas

    Banknotes             Buying  Selling
    US Dollar             308.492 315.645
    Can.Dollar            206.336 211.020
    Australian Dlr        198.871 203.482
    Pound Sterling        484.929 496.173
    Irish Punt            409.238 418.726
    Pound Cyprus          558.595 571.546
    Pound Malta           718.813 748.764
    Turkish pound (100)     0.064   0.067
    French franc           49.135  50.274
    Swiss franc           200.726 205.380
    Belgian franc           7.990   8.175
    German Mark           164.790 168.611
    Finnish Mark           54.207  55.464
    Dutch Guilder         146.254 149.644
    Danish Kr.             43.323  44.327
    Swedish Kr.            36.773  37.626
    Norwegian Kr.          38.986  39.889
    Austrian Sh.           23.422  23.965
    Italian lira (100)     16.646  17.032
    Yen (100)             258.972 264.976
    Spanish Peseta          1.937   1.982
    Port. Escudo            1.608   1.645
    
    Foreign Exchange      Buying  Selling
    New York              308.492 315.645
    Montreal              206.336 211.020
    Sydney                198.871 203.482
    London                484.929 496.173
    Dublin                409.238 418.726
    Nicosia               558.595 571.546
    Paris                  49.135  50.274
    Zurich                200.726 205.380
    Brussels                7.990   8.175
    Frankfurt             164.790 168.611
    Helsinki               54.207  55.464
    Amsterdam             146.254 149.644
    Copenhagen             43.323  44.327
    Stockholm              36.773  37.626
    Oslo                   38.986  39.889
    Vienna                 23.422  23.965
    Milan                  16.646  17.032
    Tokyo                 258.972 264.976
    Madrid                  1.937   1.982
    Lisbon                  1.608   1.645
    
    Athens News Agency

    [17] Giant mushroom found in N. Greece

    Athens, 22/07/1999 (ANA)

    Four climbers came across an unusual sight 1,800 metres high on Mt. Vermio in northern Greece yesterday - a giant mushroom looking like something out of a Disney movie.

    The mushroom was 60 cm. tall with a diameter of 60 cm. and, as they found out later, weighed over 5 kilos.

    The Greek names for the species, 'fouska' or 'arkouda' (bubble or bear respectively) fully justify the mushroom's gargantuan size.

    The four friends took the mushroom to the nearest village and after showing it off to locals, had it fried in a taverna and offered pieces to those present.

    Athens News Agency

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