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Athens News Agency: Daily News Bulletin in English, 99-09-24Athens News Agency: Daily News Bulletin in English Directory - Previous Article - Next ArticleFrom: The Athens News Agency at <http://www.ana.gr/>CONTENTS
[01] G. Papandreou cites US resolve for progress over Cyprus issueNEW YORK, 24/09/1999 (ANA - M. Georgiadou)It is clear that the United States is determined to push for progress in resolving the Cyprus issue, Foreign Minister George Papandreou said after an hour's meeting with yesterday with US Secretary of State Madeleine Albri ght."The US is showing the utmost resolve to do all it can for a substantive dialogue to commence between the two communities," he told reporters. Mr. Papandreou said his previous contacts with all other US officials, including US President Bill Clinton, on the sidelines of the UN General Assembly in the last few days, confirmed this outlook. He added that his discussion with Ms Albright had been very useful, as it also touched upon the set of priorities to which it would be useful for Washington to contribute, in view of Mr. Clinton's trip to the region later this autumn. "These are priorities related to the promotion of Greek-Turkish relations on the basis of international law and existing treaties, and the solution of the Cyprus issue...We, of course, discussed regional cooperation, the issues of the Balkans, the Middle East and the Caucasus," he said, adding that discussion with his US counterpart also included Turkey's relations with the European Union in general. "This is something which concerns us directly, in view of the Helsinki EU summit," he said. Responding to a question regarding terrorism, Mr. Papandreou said there was a review of cooperation in this field. Papandreou-Kasoulides meeting in NY : NEW YORK (ANA - T. Ellis) - The Greek and Cypriot foreign ministers, George Papandreou and Ioannis Kasoulides, respectively, met here on the sidelines of the UN General Assembly yesterday for an overview of their contacts so far. The two ministers discussed goals during the December EU summit in Helsinki and the complex web of relations between Greece-Turkey, the EU and Turkey and the Cyprus problem. Cem: Turkey's EU prospects cannot be linked to Cyprus : ISTANBUL (ANA - A. Kourkoulas) - The endorsement of Turkey's candidacy for EU membership cannot be linked to the Cyprus issue, Turkish Foreign Minister Ismail Cem reiterated, claiming that "indirect talks" are the only realistic prospect "in this phase". "We cannot consider the Cyprus issue as a precondition for our EU candidacy, " he said in an interview with the Turkish daily "Milliyet". Regarding relations with Greece, Mr. Cem said they should be seen in the framework of his country's new policy, which aimed to reduce tension with all its neighbours. Asked to respond to suspicions that the ongoing process of dialogue with Greece served the expediencies of Athens, he said that "so far, nothing bad can be attributed" to Greece. "Dialogue with Greece has been effective reducing tension to our west, and has secured a better understanding of our positions internationally," he noted. He also stressed that there was mutual respect between him and his Greek counterpart George Papandreou. Athens News Agency[02] Monetary authorities probed over bourse statementsAthens, 24/09/1999 (ANA)A public prosecutor yesterday called senior monetary officials, including the central bank governor, to give evidence in a preliminary enquiry into claims of share manipulation and insider trading on the Athens Stock Exchange.Giving evidence to prosecutor Dimitris Asproyerakas of the Athens Court of First Instance were Bank of Greece governor Lucas Papademos, bourse chairman Spyros Kouniakis and capital market commission chairman Stavros Thomadakis. The enquiry took a fresh turn on Wednesday when the prosecutor turned to recent statements by monetary authorities that some media alleged could steer investors away from a certain category of stocks and towards another. Mr. Asproyerakas is investigating the reasons given by the officials for making the statements that some media have challenged. He is also looking for any evidence of collusion involving banks, the stock exchange's board and other monetary officials that could have worked to bring down the general index, judicial sources said. The prosecutor is to call other officials to give evidence, the sources said. The enquiry follows a spectacular rise on the bourse this year that gained even greater recent momentum. The market slumped this week in what many analysts have called a normal downward correction, but some media claim the decline was fuelled by the statements. The stock exchange is currently introducing measures aimed at boosting transparency. Government spokesman Dimitris Reppas later declined to comment on whether charges may be brought against Mr. Papademos for the statements he made on the bourse. He said that he did not wish to comment during judicial proceedings. Democratic Social Movement leader Dimitris Tsovolas said that statements on the market by Mr. Papademos, National Economy and Finance Minister Yannos Papantoniou and state-run Nati onal Bank of Greece governor Theodoros Karatzas were "unorthodox and impermissible" Gov't rejects opposition claims : The government yesterday rejected criticism by the main opposition New Democracy (ND) party of its handling of the Athens bourse. Mr. Reppas told reporters that ND was fuelling talk about the stock exchange that could harm the market in statements made on Wednesday. Asked whether the premier had told the ruling PASOK party's executive bureau that the bourse would regain equilibrium in a couple of days, the spokesman replied that the premier had referred to the country's economic progress, which would benefit the market. "It is the government's economic policy that has provided the base for the bourse's rise, satisfying companies and investors," he said. In addition, the government would continue to support the bourse by ensuring fairness and transparency, Mr. Reppas added. Athens News Agency[03] Stocks in the doldrumsAthens, 24/09/1999 (ANA)Equities shed nearly 4.0 percent yesterday apparently depressed by political ructions linked to the Athens Stock Exchange's abrupt rise this year and accompanying allegations of stock manipulation.The general index ended 3.90 percent lower at 5,818.37 points from 6,054.76 points in the previous session. Turnover was 406.410 billion drachmas from 465.9 billion a day earlier on 38,492,000 shares traded. Some brokers had attributed adverse sentiment earlier this week to tighter transparency rules being introduced at the bourse. At the same time, the market was ripe for a correction due to a recent jump that outpaced the ascent throughout the rest of the year, analysts said. The sell-off yesterday was dominated by retail investors either raking in their profits on fears of a further decline in prices, or deliberately dumping stock in order to buy again if prices drop further. Sector indices ended as follows: Banking (-4.08 pct), Construction (-7.06 pct), Insurance (-5.45 pct), Miscellaneous (-1.08 pct), Leasing (-6.72 pct), Investment (-0.84 pct), Industrials (-4.99 pct) and Holding (+0.97 pct). The parallel market index for smaller capitalisation stocks plunged 7.19 percent while the FTSE/ASE 20 index for blue chip and heavily traded stocks eased 3.65 percent to finish at 3,024.24 points. Of 306 stocks traded, declines outpaced advances at 273 to 32 with one share remaining unchanged. A total of nine shares ended at the daily 8.0 percent upper volatility limit and another 134 ended at the daily limit down, also 8.0 percent. Hellenic Petroleum and Ergo Invest were the most heavily traded stocks. National Bank of Greece ended at 25,700 drachmas, Commercial Bank at 27,800, Alpha Credit Bank at 25,795, Minoan Lines at 7,945, Intracom (common) at 26, 500, Titan Cement (common) at 36,500, Hellenic Petroleum at 6,300, Hellenic Telecommunications Organisation at 7,150 and Panafon at 8,780 drachmas. Bonds edge down in lacklustre trade : Secondary bond market prices dipped an average 20 basis points in light, volatile trade but 10-year paper held steady at its former low level. Electronic trade totalled 17 billion from 4.0 billion drachmas in the previous session and 55 billion drachmas on Tuesday. Sell orders accounted for the lion's share of turnover. The benchmark 10-year bond, which was still trading below par, showed a yield of 6.59 percent from 6.65 percent a day earlier and 6.64 percent on Tuesday. The 10-year paper's yield spread over German bunds was 152 basis points from 158 basis points in the previous session and 154 basis points on Tuesday. In the foreign exchange market, foreign institutional investors were seen closing their drachma positions after liquidating stocks on the Athens bourse. Demand was mainly for euros in exchange for drachmas. At the central bank's daily fix, the euro rose against the drachma. The euro was set at 327.500 drachmas from 327.030 drachmas a day earlier and 326.990 drachmas on Tuesday. The dollar gained versus the drachma. At the fix, it was set at 313.250 drachmas from 310.910 drachmas in the previous session and 313.290 drachmas on Tuesday. Athens News Agency[04] Bourse names companies for supervisionAthens, 24/09/1999 (ANA)The Athens Stock Exchange yesterday named five companies that will inaugurate a category of suspect stocks to be supervised and placed under different trading rules.The companies are Athinea, Viosol, Hellenic Textiles, Emborikos Desmos and Klaoudatos. Already under supervision are Daring, Macedonian Spinning Mills and Technodomi. The new group of five firms were placed on the list because they were loss- making in 1997 and 1998, and in the first half of 1999, bourse officials said. The price of stocks in the category will be set at regular intervals during trade by setting an average of bid and offer orders received, in line with pre-trading practice. The normal method is real-time price formation. Bourse chairman Spyros Kounia kis said that no other firms were being considered for entry into the category. Hellenic Textiles protests decision : Hellenic Textiles yesterday protested the decision to include it in the category of stocks under supervision. The company said in a statement yesterday that the Athens bourse had ignored efforts by management to turn around finances, which it accomplished in the first half of this year after purchase by the Akkas family of stock owned by Royal Ten Cate of the Netherlands. The statement said that sales in the first half totalled 9.7 billion drachmas, up 21.6 percent on the same period of 1998. First-half profits before depreciation were 200 million drachmas, with the total forecast at 450 million drachmas at the end of the year. Athens News Agency[05] Opposition lashes out over bourseAthens, 24/09/1999 (ANA)New Democracy party spokesman Aris Spiliotopoulos yesterday criticised the government for its interventionist approach to the Athens bourse. Mr. Spiliotopoulos claimed that the government had hurt the stock market through leaks to the media, unsigned ne ws reports and statements by officials. Its practice had led to sell-offs on the bourse in yesterday's session, he claimed.In addition, Democratic Social Movement leader Dimitris Tsovolas said in a separate statement that the government had been slow to take measures to increase transparency in the market. Retail investors had suffered from the delay, Mr. Tsovolas added. Athens News Agency[06] Panafon eyes Albanian mobile phone operatorAthens, 24/09/1999 (ANA)Panafon, a mobile telephone operator, said yesterday that it was planning to bid for a majority stake in the Albanian Mobile Communications Organisation, which is slated for privatisation.The Greek firm said in a statement that it would ally with its main shareholder, Vodaphone AirTouch Plc of the UK, to lead a bidding consortium. Athens News Agency[07] National Bank, Lambrakis forge allianceAthens, 24/09/1999 (ANA)National Bank of Greece, a blue chip on the Athens bourse, is to buy a 15 percent stake in two subsidiaries of the Lambrakis Journalism Organisation. Under the arrrangement with Action Plan and Winged Hermes, the firms will develop specialised services lined to telephone business and mass distribution.Athens News Agency[08] Ceiling set for bank compensationAthens, 24/09/1999 (ANA)A ceiling of 6.6 million drachmas (20,000 euros) has been set for damages to be awarded to depositors when a bank cannot meet its financial commitments, deputy Bank of Greece governor Nikos Garganas said yesterday.The guarantor of deposits is the Deposits Guarantee Fund, which is also responsible for maintaining stability in the banking sector overall. The Singular software company has concluded an agreement with the Denmark- based Danware company concerning the representation and sale of two of the latter's new software packages (NetOp and NetSchool) by Singular in Greece and Cyprus. NetOp allows the possibility of using computer servers from a distance. Athens News Agency[09] Athens Foreign ExchangeAthens, 24/09/1999 (ANA)Bank of Greece closing rates of: September 23, 1999Parities in Drachmas Banknotes Buying Selling US Dollar 310.744 317.949 Can.Dollar 211.098 215.992 Australian Dlr 201.192 205.857 Pound Sterling 507.745 519.518 Irish Punt 412.198 421.755 Pound Cyprus 561.988 575.018 Pound Malta 728.556 758.913 Turkish pound (100) 0.061 0.064 French franc 49.490 50.637 Swiss franc 202.442 207.136 Belgian franc 8.047 8.234 German Mark 165.981 169.830 Finnish Mark 54.599 55.865 Dutch Guilder 147.312 150.727 Danish Kr. 43.694 44.707 Swedish Kr. 37.706 38.580 Norwegian Kr. 39.650 40.570 Austrian Sh. 23.592 24.139 Italian lira (100) 16.766 17.155 Yen (100) 298.671 305.596 Spanish Peseta 1.951 1.997 Port. Escudo 1.619 1.656 Foreign Exchange Buying Selling New York 310.744 317.949 Montreal 211.098 215.992 Sydney 201.192 205.857 London 507.745 519.518 Dublin 412.198 421.755 Nicosia 561.988 575.018 Paris 49.490 50.637 Zurich 202.442 207.136 Brussels 8.047 8.234 Frankfurt 165.981 169.830 Helsinki 54.599 55.865 Amsterdam 147.312 150.727 Copenhagen 43.694 44.707 Stockholm 37.706 38.580 Oslo 39.650 40.570 Vienna 23.592 24.139 Milan 16.766 17.155 Tokyo 298.671 305.596 Madrid 1.951 1.997 Lisbon 1.619 1.656 Athens News Agency[10] Papandreou-Annan discuss Cyprus issueNEW YORK, 24/09/1999 (ANA - M. Georgiadou)Foreign Minister George Papandreou discussed the Cyprus issue at length with UN Secretary General Kofi Annan yesterday, shortly before addressing the UN General Assembly.Speaking to reporters afterwards, Mr. Papandreou said the Cyprus issue "is at an important phase when it is possible that Mr. Annan will be sending invitations soon to the two sides, the two communities, for a start to negotiations." "I had the opportunity, therefore, to talk about the Cyprus issue with him, as well as recent developments in Greek-Turkish relations and, of course, after the international community expressed itself through the G-8 on a new initiative, to encourage him to go ahead, to take this initiative, so that the effort for pacification and solving the Cyprus issue might become unblocked," he said. Asked which moves Mr. Annan is expecting to send the invitations, Mr. Papandreou said "I have the impression that he will wait for (Turkish Prime Minister Bulent) Ecevit's visit to the US, the meeting with Mr. Clinton to see the result and send the invitation afterwards." Replying to another question on whether there was something new during Wednesday's working breakfast between the 15 foreign ministers and US Secretary of State Madeleine Albright, Mr. Papandreou said the discussion between the 15 European Union minister s and the US, which was represented by Ms Albright, Richard Holbrooke and Marc Grossman, focused on East Timor, Kosovo and in general stability in the Balkans, as well as Turkey. "Ms Albright expressed herself, I would say in a decisive way, there in that the US desires to contribute to the process of resolving the Cyprus issue," Mr. Papandreou said. His private meeting with his US counterpart had been scheduled for yesterday afternoon. Athens News Agency[11] Tsohatzopoulos discusses bilateral, Balkan issues with Cohen in D.C.WASHINGTON, 24/09/1999 (ANA)National Defence Minister Akis Tsohatzopoulos yesterday held talks with his US counterpart William Cohen and the US president's security adviser Sandy Berger, with talks centring on bilateral relations as well as a wide range of issues in the Balkans and Middle East.The Greek minister later described the discussions as useful for both sides. "They contributed to the smoothing out of certain pending details in our bilateral issues. Greece's role in the Balkans and the eastern Mediterraneran is confirmed through the significant initiatives which our country is undertaking in relevant issues...With Mr. Cohen we discussed new ways of cooperation for stability in the Balkans and the Middle East...We also discussed bilateral issues, issues of military cooperation, but also the process of modernisation of NATO forces in all member-states," he told reporters afterwards. "With Mr. Berger, as with Mr. Cohen, we discussed the situation in our broader region after the last crisis in Kosovo. I drew attention to the weaknesses existing at present, both in terms of the formation of a police force by the UN that will guard the borders and ensure internal security, and as regards the further strengthening of KFOR, for it to be able to implement the UN mandate and safeguard human rights for all ethnic groups," he added. Athens News Agency[12] Athens dismisses this year's State Dept. report's claims over minority issuesAthens, 24/09/1999 (ANA)Greece yesterday flatly rejected claims found in a US State Department report citing 'suppression' of certain religious freedoms of the Moslem minority in Thrace. "These accusations do not hold up," government spokesman Dimitris Reppas said."Greek Moslems have the same rights as the rest of us...the conditions under which Greek Moslems live are an example for minorities in other countries," he added. Responding to a question about the transfer of competency for Moslem minority issues from the foreign ministry to the interior ministry, Mr. Reppas said issues related to the Moslem minority were issues related to Greek citizens. "It is an internal iss ue for the country and not a matter for foreign policy," he said. In an unrelated development, he noted that there is a need for the construction of a mosque in Athens and said he believed that the Autoceplalus Orthodox Church of Greece's opinion on the matter would also be positive. Athens News Agency[13] Venizelos-GSEE meeting focusing on quake resultsAthens, 24/09/1999 (ANA)Development Minister Evangelos Venizelos said the government, in cooperation with the General Confederation of Workers of Greece (GSEE) and the Labour Centres, will proceed with the control of buildings, strengthening the market and financial support for businesses to resolve problems faced by entrepreneurs and handicraftsmen following the Sept. 7 earthquake.Mr. Venizelos was speaking after a meeting Prime Minister Costas Simitis had yesterday with Interior Minister Vasso Papandreou, among others. Mr. Venizelos said that for the purchase or leasing of commercial space, what is valid for homes will apply. He also promised that the government will facilitate businesses in all sectors and this will provide the possibility for it to intervene with long- standing problems. Athens News Agency[14] Stability Pact coordinator expresses satisfaction with Thessaloniki siteBRUSSELS, 24/09/1999 (ANA - M. Spinthourakis)The special coordinator of the Stability Pact for SE Europe, Bondo Hombach, yesterday expressed satisfaction with the technical infrastructure that the Greek government has offered in Thessaloniki to the agency's services.He made the statements before the external affairs committee of the European Parliament. Mr. Hombach described the infrastructure as invaluable and stressed that the Pact would use as a basic axis of its activities the seat of the EU's reconstruction agency in the northern port city. Replying to questions by Greek Euro-MPs Petros Efthymiou and Michalis Souladakis, Mr. Hombach said there had to be full respect for the rights of minorities in the Balkans, but on condition of the inviolability of borders. He added that Balkan countries ought to abandon policies of conflict and that the Stability Pact programmes aimed to restrict this phenomenon. Mr. Souladakis urged Mr. Hombach to tackle the problem of a large number of Greek firms which have signed contracts with countries in the region, particularly Yugoslavia, and are facing difficulties due to the fact that these contracts have become inoperative. Athens News Agency[15] Ugandan president in Athens next weekAthens, 24/09/1999 (ANA)The president of the Republic of Uganda, Yoweri Keguta Museveni, will begin an official visit to Greece at the invitation of President Kostis Stephanopoulos on Sept. 29.Mr. Museveni's visit will last through to Oct. 1. Athens News Agency[16] Hatzipateras funeral in London todayAthens, 24/09/1999 (ANA)The funeral of John Hatzipateras, the long-time president of the London- based Greek Committee for Shipping Cooperation for the last 16 years, will take place in the British capital at noon today.Hatzipateras died in Athens last week. Merchant Marine Minister Stavros Soumakis arrived in London yesterday to represent the government at the service. According to reports, shipowner Epaminondas Empeirikos will succeed Hatzipateras as Committee president. Athens News Agency[17] Gov't cites 7 trillion dr. in farm subsidies between 2000-2006Athens, 24/09/1999 (ANA)Agriculture Minister George Anomeritis yesterday referred to rural development, saying that over the 2000-2006 period 9.5 trillion drachmas will be provided through the ministry, while funds will also be allocated by other ministries.Speaking at a press conference, Mr. Anomeritis said seven trillion drachmas will be provided as subsidies, 1.35 trillion for rural development through the 3rd Community Support Framework, 350 billion from guarantees and 660 billion drachmas from private participation. Regarding 1999, he said all the money concerning subsidies has already been provided. The amount of 871 billion drachmas has been given to beneficiaries by the end of August. The early retirement programme is expected to be completed by the end of the year. Another 50,000 farmers are expected to be added to about 25,000 (8,000 a year) until 2006. Early pensions will increase by 25 per cent as of Jan. 1, 2000 and will be set at 106,000 drachmas for beneficiaries in border regions. In addition, farmers will receive credit cards through the Agricultural Bank of Greece (ATE). The granting of such cards is anticipated for all who are included in the Farmers' Register and by ATENET for all having dealings with the bank and other banks through DIA. Athens News Agency[18] Exhibition on Picasso's 'Guernica' in AthensAthens, 24/09/1999 (ANA)Culture Minister Elizabeth Papazoi will inaugurate the "Pablo Picasso - Studies on Guernica" exhibition at the Stathatos Mansion in Athens today.The exhibition arrives in Greece from the collection of the Queen Sophia National Art Centre Museum in Madrid, and includes a painting of "Guernica" 10 per cent smaller than its original size and eight photographs from the project's various stages; as well as creations of surrealist photographer Dora Maar, Picasso's companion during the war years. Dolly Goulandri, president of the foundation, noted that "the second part of cooperation with the Spanish museum is being completed today and we feel that we have its most valuable exhibits here." The incentive for the painting was provided by the dramatic news that the small Basque town of Guernica had been bombed on April 27, 1937 by German aircraft, which supported Franco's nationalists. Athens News Agency[19] 'Black list' of alleged tax evaders includes notable actressAthens, 24/09/1999 (ANA)Another national economy ministry 'black list' of alleged tax evaders was released yesterday, with actors and television performers comprising the majority of the listed individuals, along with physicians, notary publics and even high school educators.Greek actress Vanna Barba was charged with failing to declare income amounting to 37 million drachmas (approximately $US 110,000), tax authorities announced. Ms Barba, with a notable role as a prostitute in the Oscar-winning film "Mediterraneo", is alleged to have failed to issue receipts for income she received for performances in two local television series. She is the latest household name to be publicised in the tax bureau's campaign to villify tax evasion by releasing the names of what it says are high profile tax dodgers. Yesterday's list - the 5th so far - also includes local small screen lothario Apostolos Gletsos. In total, the 26 people named allegedly failed to declare income totalling 755 million drachmas. Athens News AgencyAthens News Agency: Daily News Bulletin in English Directory - Previous Article - Next Article |
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