Athens News Agency: Daily News Bulletin in English, 99-08-25

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

CONTENTS

[01] Greece, Albania advance cooperation with signing of 2 protocols during Simitis visit

[02] Issue of Greek veto to EU financial protocol for Turkey reappears

[03] UN High Commissioner Rodriguez praises Greece's role in aiding quake victims, Balkans

[04] US Senate's Lugar in Greece today

[05] Greek, Turkish soccer clubs arrange friendly, proceeds towards quake relief

[06] Tsiamita wins gold in women`s triple jump

[07] Cypriot doctors say were greeted warmly in quake-stricken Turkey

[08] Economic News

[01] Greece, Albania advance cooperation with signing of 2 protocols during Simitis visit

TIRANA, 25/8/1999 (ANA)

The protocols were signed following talks here between Prime Minister Costas Simitis and Albania's leadership.

Mr. Simitis, who arrived in Tirana for a one-day official visit yesterday morning, had separate talks with President Rexhep Mejdani and his Albanian counterpart Pandeli Majko.

The first protocol provides for further economic cooperation between the two countries, namely, the establishment of a new border post in the area of Treis Gefyres, Premeti region.

The second, signed by Foreign Minister George Papandreou and his Albanian counterpart Paskal Milo, provides for joint sea patrols in the strait between Sarande and Corfu, aimed at preventing cross-border crime such as smuggling.

According to Greek diplomatic sources, Mr. Simitis and Mr. Majko discussed a number of minor problems in bilateral relations, such as the large numbers of Albanians illegally entering Greece, although both men stressed that these problems would not affect the two countries' good relations.

Also discussed were procedures for the disbursement of 1.5 million dollars of Greek aid to Albania, which will be used for the construction of a maternity hospital and residences in Tirana.

A further $500,000 will be allocated for projects in southern Albania populated by ethnic Greeks.

Commeting on his talks with Mr. Majko, Mr. Simitis said "there is a framework for the relations of Balkan countries which is set by the Stability Pact. It regards understanding and good relations.

"Of course, there are always unresolved problems, difficulties, but nothing is insurmountable. In any case, I do not think that the problems and difficulties can create problems in the development of the region," he said, adding that discussions include d problems in Kosovo, where there will be "problems, but I think that they will be overcome."

Referring to the issue of undocumented workers in Greece, Mr. Simitis said Athens "has stated that it will apply specific principles. Economic immigrants contribute to the development of our country, as well as to the development of Albania. However, th ere should be correct conditions; their presence in Greece should be under legal procedures."

On his part, Mr. Majko said "the relations of Albania and Greece have gone beyond the limits of protocol. We are the most ancient neighbours in the Balkans and the Stability Pact in the region is a new beginning. It will give a new boost to our relation s, as the visit of Mr. Simitis has already done."

Later in the day, the Greek premier visited Archbishop of Tirana and All Albania Anastasios and the Greek military contingent at the Izberis camp outside Tirana.

ND: In response to the visit by the Greek PM to Tirana, main opposition New Democracy (ND) spokesman Aris Spiliotopoulos said "Mr. Simitis visited Albania without really being prepared. This became apparent by his total lack of preparation on Balkan issues, o n which the two sides met to underline their differences.

"Regarding issues of the Greek minority in the country, the results of discussions should have been more specific, and more importantly, binding for the Albanian side," Mr. Spiliotopoulos added.

He also stressed that "regarding the third part of talks, it was apparent that the aim of the visit was to improve the image of the Simitis government in the critical sector of citizens' sense of security."

"We call on the government to adopt specific measures which we have indicated for the essential upgrading of the police and policing," he added.

Athens News Agency

[02] Issue of Greek veto to EU financial protocol for Turkey reappears

Athens, 25/8/1999 (ANA)

On his part, acting government spokesman Yiannis Nikolaou yesterday reiterated that the any such discussion on the matter was still premature.

"Our position remains steady. As already stated, we shall play a leading role in EU support of Turkey in the difficult problems it is facing due to the earthquake. Beyond that, regarding the veto and the financial protocols, we have said it is still premature to talk. We shall wait to see developmens in the EU, the proposals which will be sumbitted and we shall see to the matter when the time comes," he said in response to questions.

Reacting to Mr. Nikolaou's stgatement, Democratic Social Movement (DHKKI) leader Dimitris Tsovolas stressed that "humanitarian values should not be confused with our country's foreign policy".

He further charged that the government was attempting to utilise the catastrophic effects of the recent earthquake in order to implement its commitments to what he called the western powers for ""an unconditional dialogue on all issues with Turkey".

Parliament President Apostolos Kaklamanis stated that a country's best interests are not always served through the adoption of the toughest stand possible.

On Monday, former New Democracy prime minister Costas Mitsotakis called for a lifting of the veto, saying it was "pointless". Yesterday, his successor to the leadership of the party, Miltiades Evert, said any change in the country's policy towards Turke y should be made after an undestanding between the political parties and take into account all the parametres of the problem, rather than through "piecemeal statements on the problem which may be exploited by Turkey in future."

Greek aid to quake victims: According to an ANA dispatch from Istanbul, Turkish Foreign Minister Ismail Cem revealed in a television interview yesterday that his Greek counterpart George Papandreou was the first to phone Ankara after the recent quake.

He added that Mr. Papandreou asked to be briefed on the immediate needs following the disaster.

"He was briefed and the Greek aid arrived right away," Mr. Cem noted.

Meanwhile, a six-member Greek parliamentary delegation yesterday arrived in Istanbul aboard a Hellenic Air Force C-130 plane carrying 20 tonnes of humanitarian aid to the quake victims, following a decision by Parliament. All of the MPs are physicians.

Mayors' initiative: Finally, the mayors of the five largest municipalities in the country met yesterday in Athens to discuss efforts for the coordination of humanitarian aid to quake-stricken Turkey.

The meeting was attended by the mayors of Athens, Dimitris Avramopoulos; Thessaloniki, Vassilis Papageorgopoulos; Piraeus, Christos Agrapidis; Patra, Evangelos Floratos and Irakleio, Costas Aslanis.

Speaking afterwards at a joint news conference, Mr. Avramopoulos said the meeting was aimed at joining the forces of the five municipalities to respond collectively to the significant needs that have arisen in Turkey following the devastating earthquake of Aug. 17.

Mr. Avramopoulos said a coordinating body had been set up in Athens to facilitate the gathering and dispatch of humanitarian aid, as part a common effort of the five municipalities. He said the venture had been named "Operation Solidarity".

Mr. Agrapidis said that in the face of such a disaster, "there is no name, no flag, no ideology, nor fixations of mindless leadersIWe must leave prejudices aside," he added.

Mr. Papageorgopoulos said a two-day blood donation drive was being held in Thessaloniki, while Mr. Floratos announced that a special event would be held in Patra on Sept. 3 with the participation of noted composer Mikis Theodorakis, the proceeds of which will be directed to aiding Turkish quake victims.

In addition, Mr. Floratos said a team of engineers with increased experience from the effects of quakes in the Patra area would travel to the worst-hit areas and assist their Turkish colleagues in assessing structural damage of buildings still standing.

Mr. Aslanis said the assistance sent by the people of Irakleio, and of Crete in general, was "a self-evident duty".

Mr. Avramopoulos told reporters that he would travel to Turkey today for talks with the mayor of Istanbul, Ali Mufit Gurduna, to discuss Athens' offer to set up a 1,000-tent settlement for the homeless, together with hospital and facilities such as a pl ayground. The camp will be set up by a Greek team.

Mr. Avramopoulos said that 10 containers of aid had so far been collected, in addition to the relief gathered in other municipalities. In a related development, a recently acquired mobile medical unit was handed over yesterday to the "Medecins sans

Frontieres" organisation for use in the northwest of Turkey for one month.

The unit was recently given to local government authorities in Kavala by the government. The unit departed for Turkey yesterday.

Athens News Agency

[03] UN High Commissioner Rodriguez praises Greece's role in aiding quake victims, Balkans

Athens, 25/8/1999 (ANA)

She also thanked the Greek minister for the action undertaken by the ministry in Kosovo and the Former Yugoslav Republic of Macedonia (FYROM) as well as for the initiative in collecting humanitarian aid for Turkey, noting that the Greek government, agen cies and citizens are upstanding examples in providing humanitarian aid.

"Greece is a strong country in the region with high humanitarian ideals and its opinion should be respected in the European Union," Ms Rodriguez said.

Athens News Agency

[04] US Senate's Lugar in Greece today

Athens, 25/8/1999 (ANA)

According to a US embassy release, Mr. Lugar, the second-ranking Republican in the US Senate's foreign relations and intelligence committee, is scheduled to visit several countries in the region.

Athens News Agency

[05] Greek, Turkish soccer clubs arrange friendly, proceeds towards quake relief

ISTANBUL, 25/8/1999 (ANA - A. Kourkoulas)

Athens News Agency

[06] Tsiamita wins gold in women`s triple jump

Athens, 25/8/1999 (ANA)

Olga Vasdeki added to the Greek medals tally by winning the bronze in the same event with 14.61. Yamile Aldama of Cuba was second, also with 14.61.

Katerina Thanou and Anastasia Kelesidou have already won a bronze and a silver medal, respectively, in the women's 100 metres dash and discus throw.

Athens News Agency

[07] Cypriot doctors say were greeted warmly in quake-stricken Turkey

NICOSIA, 25/8/1999 (CNA/ANA)

"Thank you my brother," the Turkish driver who ferried them around told them as he bid the team farewell, a press conference heard here yesterday from the team, members of the Cyprus branch of the non-governmental organisation Doctors of the World.

Nicolas Panayiotou, a Cypriot doctor living and working in France, said "people were kind and polite to us."

He said Turkey's ambassador to Greece offered the Cypriot team (comprising two doctors and a nurse) free tickets to Istanbul with the Turkish Airlines but they decided to fly to Turkey last Friday on a Greek C-130 to get their earlier.

The doctors said they would be ready to go back, if needed, and said the organisation will send medicine to Turkey for the victims.

They also said that many people were surprised with the fact that a Cypriot delegation went to offer aid.

Athens News Agency

[08] Economic News

Athens, 25/8/1999 (ANA)

The amendment will incorporate administrative penalties and oblige refineries, distributors and retailers to report their profit margins, Mr. Venizelos told parliament yesterday.

Central bank chief okays anti-inflation package: Bank of Greece governor Lucas Papademos said yesterday that he approved a package of measures devised by the government to help lower inflation.

Mr. Papademos was speaking to reporters after a meeting with National Economy and Finance Minister Yiannos Papantoniou.

He added that the central bank was taking a cautious approach to interest rate cuts, especially its intervention rates in the money market.

First, inflation had to fall further towards the criterion for entry into the euro zone, Mr. Papademos said.

National Bank gets control of Bulgarian leasing firm: National Bank of Greece, a blue chip on the Athens bourse, said yesterday it had acquired a controlling stake in Interlease of Bulgaria.

National Bank bought 49.3 percent of Interlease's stock from Leaseholding of the Netherlands, taking its ownership to 72.5 percent.

The bank, along with National Investment Bank for Industrial Development, already owned a 23.2 percent stake in the Bulgarian leasing firm.

Other shareholders are the International Finance Corporation, a subsidiary of the World Bank, and the Bulgarian Chamber of Industry.

Mytilineos forges alliance with Cypriot firm: The Mytilineos Group, a metals miner and trader, and Hellenic Copper Mines (HCM) of Cyprus announced yesterday that they had forged a strategic alliance.

HCM is owned by the Cypriot Hellenic Metallurgical Company Ltd and Oxiana Resources of Australia.

Under the terms of the deal, Mytilineos will buy HCM's total copper output for an unspecified number of years, the two firms said in a statement.

Mytilineos expressed its willingness to become a strategic investor in HCM, reinforcing the firm's capital base with five million US dollars.

The move would allow a 50 percent rise in capacity to 12,000 tons annually from 8,000 tons and enable HCM to enter the Cyprus Stock Exchange with a strong capital base and improved profitability.

The two groups also plan to undertake joint projects in Cyprus, Greece and the eastern Mediterranean.

Stocks edge down in profit taking: Equities succumbed to profit-taking to end slightly lower yesterday but the general index remained above the historic 5,000 level which it broke the previous day.

Dealers said investors raked in some profits from smaller capitalisation stocks, and buying interest turned to the banking sector.

The general index ended 0.20 percent lower at 5,056.49 points, sharply off its intra-day high of 5,172.41 points.

Turnover was 304.997 billion drachmas with 40,086,276 shares changing hands.

Sector indices ended as follows: Banks (+2.12 pct), Leasing (-6.82 pct), Insurance (-1.01 pct), Investment (-1.66 pct), Construction (-1.50 pct), Industrials (-2.68 pct), Miscellaneous (-4.22 pct) and Holding (-1.32 pct).

The parallel market index for smaller capitalisation stocks fell 0.46 percent while the FTSE/ASE 20 index for blue chip and heavily traded stocks ended 0.99 percent higher at 2,779.34 points.

Broadly, decliners led advancers by 189 to 104 with another five issues unchanged.

A total of 24 issues ended at the day's 8.0 percent limit up, while another four ended at the day's limit down.

Ergo Invest and Hellenic Telecoms were the most heavily traded stocks, while National Bank, Alpha Credit Bank, Piraeus Bank and Hellenic Technodomiki led the day's turnover.

National Bank of Greece ended at 23,500 drachmas, Alpha Credit Bank at 23, 700, Commercial Bank at 27,950, Titan Cement at 35,800, Hellenic Petroleum at 3,000, Intracom at 23,600, Minoan Lines at 7,330, Panafon at 8,645 and Hellenic Telecoms at 6,600.

Bonds quiet in lacklustre trade: The secondary bond market was quiet yesterday with trade edging up only slightly from the previous session.

Electronic turnover was 8.0 billion drachmas from 2.0 billion drachmas in the previous session and 3.0 billion drachmas on Friday.

Again at the centre of trade were five- and seven-year securities. The benchmark 10-year bond was still trading below par around 98.50, showing a yield of 6.57 percent from 6.50 percent in the previous session.

The yield spread above German bunds was 177 basis points from 178 basis points in the previous session and 180 basis points on Friday.

At the central bank's daily fix, the euro edged down versus the drachma.

The euro was set at 326.460 drachmas from 326.560 drachmas in the previous session and 326.670 drachmas on Friday.

Also at the fix, the dollar rose against the drachma in line with the US currency's ascent in markets abroad.

The greenback was set at 310.000 from 307.090 drachmas in the previous session and 306.730 drachmas on Friday.

Yield rises in 7-yr bond auction: The average weighted yield in an auction yesterday of seven-year bonds rose to 6.73 percent from 6.28 percent in the last auction in June, the public debt management agency said in a statement.

On auction were 120 billion drachmas' worth of securities carrying a 6.0 percent coupon.

Bids submitted totalled 296 billion drachmas, with primary dealers oversubscribing the offer by 2.47 times. Accepted were 132 billion drachmas of bids, the public debt management agency said.

Selonda posts H1 profit jump: Selonda Fisheries, which is listed on the Athens bourse, said yesterday that its first half net pre-tax profits jumped to 1.4 billion drachmas from 315 million drachmas a year earlier, marking a 335 percent rise.

Turnover in the first half increased by 280 percent to 4.4 billion drachmas from 1.2 billion drachmas in the same period of 1998, Selonda said in a statement.

Consolidated net pre-tax profits rose by 117 percent to 1.9 billion drachmas in the first half on turnover of 5.7 billion drachmas, up 26.6 percent, the statement said.

Banknotes Buying Selling
US Dollar 307.520 314.650
Can.Dollar 205.364 210.125
Australian Dlr 196.099 200.645
Pound Sterling 491.476 502.872
Irish Punt 411.203 420.737
Pound Cyprus 558.992 571.953
Pound Malta 716.548 746.404
Turkish pound (100) 0.063 0.066
French franc 49.371 50.516
Swiss franc 202.244 206.933
Belgian franc 8.028 8.214
German Mark 165.581 169.420
Finnish Mark 54.468 55.731
Dutch Guilder 146.956 150.363
Danish Kr. 43.549 44.559
Swedish Kr. 37.107 37.967
Norwegian Kr. 39.293 40.204
Austrian Sh. 23.535 24.081
Italian lira (100) 16.725 17.113
Yen (100) 275.349 281.734
Spanish Peseta 1.946 1.991
Port. Escudo 1.615 1.652
Euro
Buying: 323.848  Selling: 331.357

Foreign Exchange Buying Selling
New York 307.520 314.650
Montreal 205.364 210.125
Sydney 196.099 200.645
London 491.476 502.872
Dublin 411.203 420.737
Nicosia 558.992 571.953
Paris 49.371 50.516
Zurich 202.244 206.933
Brussels 8.028 8.214
Frankfurt 165.581 169.420
Helsinki 54.468 55.731
Amsterdam 146.956 150.363
Copenhagen 43.549 44.559
Stockholm 37.107 37.967
Oslo 39.293 40.204
Vienna 23.535 24.081
Milan 16.725 17.113
Tokyo 275.349 281.734
Madrid 1.946 1.991
Lisbon 1.615 1.652

Athens News Agency

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