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Athens News Agency: Daily News Bulletin in English, 00-02-12

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] Provincial sports infrastructure to benefit from holding Olympic Games
  • [02] Simitis to meet Balkan counterparts
  • [03] Clerides briefs party leaders on outcome of second round of Cyprus proximity talks
  • [04] German foreign minister holds talks with Turkish Cypriot leader
  • [05] Dimensions and development of EU's Balkan policy discussed in Thessaloniki
  • [06] Main opposition party denounces Turkish violations in the Aegean, accuses government
  • [07] Turkish press says Turkey should reconsider its positions on many issues concerning Greek-Turkish relations
  • [08] Greek Consul at Izmir to promote cooperation in tourism, culture
  • [09] Albanian Prime Minister holds talks with ethnic Greek leader on Greek minority's problems
  • [10] Illegally built airport in Turkish-occupied area of Cyprus is military base
  • [11] Karamanlis sets out ND's election tactics
  • [12] Coalition party leader accuses PASOK and ND parties of creating soccer climate in political life
  • [13] Greece joins Europe in confronting racism, labor minister says
  • [14] Greece says EU enlargement should not be at the expense of its member-states
  • [15] Seminar by ND's Euro-MPs focuses on upcoming Intergovernmental Conference
  • [16] Gov't replies to tabled question over digital transmission of ERT programs
  • [17] Greece presents newly designed armored vehicle
  • [18] Greek stocks end mixed in subdued trade
  • [19] Blue chips maintain ASE's upward bias
  • [20] Farmers to get 20 pct equity discount from convertible bonds
  • [21] Bouncing checks fall, bankruptcies rise in January
  • [22] Government says backs individual initiatives to introduce 35-hour working week
  • [23] Ten new EU information centers in Greece
  • [24] Marble, building material trade fairs in February
  • [25] Greece will soon comply with requirements for US visa waiver, spokesman says
  • [26] U.S. Mission in Greece hosts Balkan regional counter-narcotics meeting
  • [27] Recovered Corinthian artifacts about to begin journey from NY to Greece
  • [28] Regional sports planning to get 200 billion drachmas boost

  • [01] Provincial sports infrastructure to benefit from holding Olympic Games

    Athens, 12/02/2000 (ANA)

    Greece's government on Friday announced a 200 billion drachma injection into provincial sports infrastructure on Friday, saying that it was part of the run-off effect of the holding of the 2004 Olympic Games in the Greek capital.

    Government spokesman Dimitris Reppas said the "Greece 2004" program of public projects and infrastructure was a tangible reminder that the holding of the Olympic Games was not just of benefit to Athens.

    "The projects, which will be completed in this period up to the day of the holding of the Olympic Games in Greece, can be evaluated at 350 billion drachmas - a major amount will be allocated for projects in the Greek provinces," he said.

    Reppas was speaking after Prime Minister Costas Simitis chaired a meeting of the inter-ministerial committee on the 2004 Olympic Games with the participation of Organizing Committee Managing Director Costas Bacouris.

    The spokesman said that a large number of the projects to receive funding in the run-up to the Games would also be used for Olympic Games events, such as Olympic Games soccer matches to be played in Thessaloniki, Volos, Patras and Iraklion.

    Another 150 billion drachmas will be used for other Games-related activities such as the Olympics Youth Festival, the Cultural Olympics and projects to improve tourist gateways into the country and to develop specialized tourism programs.

    Reppas said there was no issue of planning for the Games being behind schedule.

    "We ascertained that we are on time with our planning, within the time frames," Reppas said. "In all sectors there is development that is more or less satisfactory."

    One of the decisions taken at Friday's meeting was the transfer of a Hellenic Air Force base at Marathon so that the area could be used to develop installations for the Olympics, such as the rowing center.

    Reppas said that the transfer was planned to be completed by February 2001.

    The airport at Hellenikon-to date Athens' international airport-is scheduled to have moved all major installations to the new airport at Spata by November 2001. Reppas said a study was under way on how to best exploit the area once it is moved-the government's aim was for it to become "an oasis of greenery" in the wider Athens area.

    A working group on traffic flow and ease of movement to Games events before and during the Games is also to be set up, to group responsibilities spread over ministries, public organizations and other government services.

    Reppas said that talks were under way between the relevant services, led by the Greek National Tourist Organization and hoteliers' chambers, to ensure the accommodation needs of foreign visitors to Athens during the Games' period.

    "We have decided to upgrade the hotels which are currently in operation but also to bolster hotel infrastructure," Reppas said

    [02] Simitis to meet Balkan counterparts

    BUCHAREST, 12/02/2000 (ANA- V. Mourtis)

    Prime Minister Costas Simitis arrived here on Friday for the third inter-Balkan conference of heads of state or government in the framework of regional cooperation.

    He is scheduled to hold meetings with his counterparts and of Bulgaria in the afternoon.

    The conference will culminate with the signing of a Charter for good neighborly relations, stability, security and cooperation in

    SE Europe, which was initialed by the participating countries' foreign ministers last December.

    Yugoslavia is the only Balkan country absent from the conference. Greece has expressed hope it will be allowed to participate in future.

    The previous two inter-Balkan cooperation conferences were held in Crete, on November 3-4, 1997, and Antalya, Turkey, on October 12-13, 1998.

    Upon arrival at the airport, Simitis laid flowers on the wing of the Greek government Falcon jet in which the late alternate foreign minister Yiannos Kranidiotis and six others lost their lives in a freak accident as the plane was coming to land in the Romanian capital last September.

    Simitis to meet separately with Ecevit in Bucharest: Prime Minister Costas Simitis is scheduled to meet with his Turkish counterpart Bulent Ecevit during the Balkan summit in Bucharest beginning Saturday, government spokesman Dimitris Reppas said on Friday.

    Reppas said Simitis would be meeting successively with Former Yugoslav Republic of Macedonia Prime Minister Ljupco Georgevski, the Romanian Prime Minister and then with Ecevit.

    Shortly before his departure on Saturday evening, he will meet with Bulgarian Prime Minister Ivan Kostov. A meeting with Albanian Prime Minister Ilir Meta, who was recently in Athens, may also be held, Reppas said.

    The summit, the third since a Greek initiative in 1997, is expected to conclude with the signing of a region-wide friendship and cooperation agreement.

    The leading regional issue, to be brought up by Greece, is the likelihood of the lifting of sanctions on Yugoslavia, which is not a party to the summit.

    This issue is also to be raised during the European Union foreign ministers' council in Brussels on Monday.

    [03] Clerides briefs party leaders on outcome of second round of Cyprus proximity talks

    NICOSIA, 12/02/2000 (CNA/ANA)

    Cyprus President Glafcos Clerides on Friday briefed political party leaders on the outcome of the second round of UN-led proximity talks held in Geneva earlier this month and replied to their questions at a meeting of the National Council, the top advisory body to the President on the Cyprus question.

    Government spokesman Michalis Papapetrou told the press after the two-hour meeting that the party leaders put forward their initial views and will continue their discussion at a meeting next Thursday.

    The Geneva talks, held from January 31 to February 8, were carried out through separate meetings between the UN, President Clerides and Turkish Cypriot leader Rauf Denktash.

    The first round of talks was held in New York in December 1999, while a third one is expected to begin in New York on May 23.

    The spokesman said during Thursday's meeting "preparations will continue in view of visits to Cyprus by representatives of foreign countries and preparations for the third round of proximity talks."

    The foreign government representatives were on the wings of both rounds of talks aimed at paving the way for substantial negotiations to reach a settlement in Cyprus, divided since Turkish troops occupied 37 percent of its territory in 1974.

    Papapetrou said the National Council members, leaders and top officials of the five parliamentary parties, are cooperating in view of the May talks.

    Asked if the political leaders will accompany President Clerides to the New York talks, he said it is early to say.

    The spokesman described the views expressed by the party leaders as "constructive" and said the meeting took place "in a calm atmosphere".

    [04] German foreign minister holds talks with Turkish Cypriot leader

    BERLIN, 12/02/2000 (ANA / P. Stangos)

    German Foreign Minister Joschka Fischer held talks with Turkish Cypriot leader Rauf Denktash in Hamburg on Friday on the Cyprus issue.

    Later, an announcement by the German Foreign Ministry said the two sides agreed that new "dynamism" is being ascertained in the process concerning the protracted Cyprus issue, following decisions taken at the EU's Helsinki summit, Greek-Turkish rapprochement and the resumption of bicommunal talks under UN sponsorship.

    The announcement said that the meeting "constitutes an expression of the German government's interest in participating in a dialogue with the leaders representing the two sides in the problem of Cyprus."

    "Fischer underlined the German government's readiness to support, together with its partners, the efforts of the UN Secretary General for a solution to the Cyprus issue," it said.

    [05] Dimensions and development of EU's Balkan policy discussed in Thessaloniki

    Athens, 12/02/2000 (ANA)

    Secretary Generals of European Union Affairs from foreign ministries of EU member states convened for the first time in Thessaloniki on Friday and discussed the EU's Balkan policy in all its dimensions, as well as developments in relations between Greece-Europe and Turkey.

    Speaking earlier, the Foreign Ministry's European Affairs Secretary General Stelios Perrakis said the purpose of the meeting is to show the importance given by the government in promoting policies serving the area of northern Greece and Thessaloniki.

    Perrakis said other issues to be discussed were issues concerning the agenda of Europe, the Portuguese EU Presidency's priorities and issues regarding the intergovernmental conference due to start officially in Brussels on Monday.

    [06] Main opposition party denounces Turkish violations in the Aegean, accuses government

    Athens, 12/02/2000 (ANA)

    The main opposition New Democracy party on Friday denounced mass infringements of the Athens FIR and violations of national airspace by Turkish warplanes and accused the government of trying to hide the latest Turkish provocations from public opinion.

    "The mass infringements of the Athens Flight Information Region (FIR) and violations of national airspace by armed Turkish aircraft, which have been escalating in past days, confirm the concerns we expressed after the Helsinki summit," ND spokesman Aris Spiliotopoulos said.

    He said these actions "reveal that Ankara remains intransigent in its arbitrary and unilateral claims and give cause for serious concern".

    Spiliotopoulos added that there is "cause for concern from the tactics of the government which is trying to hide the latest Turkish provocations from public opinion, while silence observed by the National Defense Ministry is also peculiar."

    He said that Turkey's primary target is Greece's acceptance of its proposal for the creation of a Joint Political and Military Committee on issues concerning the Aegean, which it creates itself.

    The ND spokesman also invoked recent statements by former Foreign Minister Theodoros Pangalos that Turkish proposals on the Aegean would lead to joint management, adding that Greece "is giving without receiving anything in return".

    [07] Turkish press says Turkey should reconsider its positions on many issues concerning Greek-Turkish relations

    ISTANBUL, 12/02/2000 (ANA - A. Kourkoulas)

    Turkish journalist Mehmet Ali Birand analyses Greek-Turkish relations in a report in the 'Turkish Daily News' on Friday saying "the ball is now in the Turkish court."

    Birand says that Ankara responded to date to pressures to make a move by saying that nothing could be done before the EU Helsinki summit.

    "Now, after our desires were satisfied at Helsinki, they are knocking at our door again," he said and explained that the impression that Turkey is playing for time in discussions on so-called secondary issues is widespread in Greece.

    "There is no doubt that Ankara wants to do something. (Turkish Foreign Minister) Mr. Ismail Cem is annoyed by the idea that he is trying to 'play for time'," he said.

    "Unavoidably, we should reconsider our positions on the issue of the continental shelf, the 12-mile zone at sea, the 6/10 zone in airspace, the Patriarchate, Thrace (northern Greece) and Cyprus. Turkey should resort to the international court at The Hague. It should abandon the rhetoric on gray zones, it should move the Aegean Army to Konya and the landing craft to other regions, it should stop making statements concerning 'casus belli', allow the reopening of the Halki Academy of Theology and, lastly, it should revise its policy on Cyprus," he said.

    "Despite the fact Prime Minister Ecevit says that the Cyprus issue was solved in 1974, the issue of Cyprus has not been solved," he said, adding that "we cannot explain how it could be that we want a confederation, since for 25 years we had been asking for a federation."

    [08] Greek Consul at Izmir to promote cooperation in tourism, culture

    ANKARA, 12/02/2000 (ANA-Alkis Kourkoulas)

    Greek-Turkish cooperation in tourism and culture will be central aims of the Greek Consulate at Izmir, Turkey, newly appointed Consul Christina Alexopoulou said on Friday.

    "The participation of Greece in the 'religious tourism' program of the Turkish tourism ministry, along with the promotion of exchanges of theatrical groups, could be one more step toward rapprochement between the two countries," she said.

    In an unrelated development, the Turkish press was positively inclined toward the construction of a new Greek embassy building in Ankara.

    The issue was discussed in Athens between Greek Foreign Minister George Papandreou and his Turkish counterpart Ismail Cem. The two men agreed to form a joint committee, which will propose solutions concerning the enlargement or relocation of the Turkish embassy in Greece and the construction of a new Greek embassy in Ankara.

    In 1930, late Turkish president Kemal Ataturk donated a parcel of land to Greece, in Ankara, for the construction of a new embassy, a goal never accomplished.

    The press, however, also noted the drive, by a local government supported, citizens group, to turn the donated land into a park named "Greek-Turkish friendship".

    [09] Albanian Prime Minister holds talks with ethnic Greek leader on Greek minority's problems

    TIRANA, 12/02/2000 (ANA)

    Albanian Prime Minister Ilir Meta held talks on Friday with the leader of the ethnic Greek organization "Omonoia" Vangelis Doules on problems facing the Greek minority in Albania. It is the first time since parliamentary rule was established in Albania that the country's Prime Minister holds talks with the ethnic Greek minority's organization.

    Individual issues discussed included ownership status, educational matters, the country's new administrative division, public order and the assumption of posts in the Albanian public sector by ethnic Greeks.

    Meta expressed his government's will to have problems resolved in accordance with the constitution and international rules binding Albania. He added that the meeting will constituted the start of a dialogue aimed at handling problems and paving the way for their solution and stressed the need for European norms to be applied on minority rights.

    Doules told the Athens News Agency (ANA) later "we hope that the issues concerning the Greek minority in Albania will be handled in a new way by the country's political leadership."

    [10] Illegally built airport in Turkish-occupied area of Cyprus is military base

    NICOSIA, 12/02/2000 (CNA/ANA)

    A Turkish newspaper has published a report confirming that an airport illegally built in the areas of Cyprus occupied by Turkey since 1974 is a military base where F16 fighters station, something the puppet regime in the occupied areas has been denying for years.

    The report comes only a few weeks after three people of Cypriot origin and today living in third countries filed applications before the Strasbourg-based European Court of Human Rights against Turkey, for usurping their properties in the occupied village of Lefkoniko and constructing a military airport on their land.

    An article published in the Turkish newspaper "Star" and reproduced on Friday in the Turkish Cypriot newspaper "Yeni Duzen" refers to the illegal airport and says "in reality it is a military base here F16 fighters station".

    [11] Karamanlis sets out ND's election tactics

    Athens, 12/02/2000 (ANA)

    The New Democracy party intends to maintain low tones during the election campaign and will avoid extremes so that a substantive political dialogue may develop and citizens may be adequately informed, main opposition leader Costas Karamanlis said on Friday.

    He accused the government of danger mongering and posing dilemmas of an outdated content.

    "We reject fanaticism and polarization and the government's attempt to cultivate 'heard' syndromes. We do not intend to follow the Prime Minister in the tactics of past decades," he told a news conference in Athens.

    He set out seven rules, which his party proposed that should apply during the pre-election period.

    These include the abstention from transporting to rallies of party supporters from other regions, debates among all political leaders without exceptions, and controls on party spending.

    He said no one knew where the ruling PASOK party found the nine billion drachmas it has already spent on advertising.

    The rules should also include distribution of television and radio time to parties according to their parliamentary strength, and the abstention of the state mechanisms, including publicly run media, from showing favoritism to the ruling party.

    "The attitude of state television is an affront to the intelligence of citizens, undermines the criteria for quality and reminds of media of the former eastern block. News bulletins show the picture of the Prime Minister and other government officials for 20 minutes," he said.

    He insisted on the holding of televised debates where political leaders addressed direct questions to others, with time limits set for the answers.

    [12] Coalition party leader accuses PASOK and ND parties of creating soccer climate in political life

    Athens, 12/02/2000 (ANA)

    Coalition of the Left and Progress party leader Nikos Constantopoulos on Friday accused the ruling PASOK party and the main opposition New Democracy party (ND) of creating a soccer climate in the country's political life.

    "They are competing over who will make transfers for the first team or transfers for the reserves," he said in the town of Pyrgos, southern Greece, during his two-day tour of the Ilia prefecture.

    Constantopoulos said the Coalition is appealing to members of the wider Left, social movements and ecology, adding that the elections will not judge whether PASOK leader Costas Simitis or ND leader Costas Karamanlis makes better photographs or stages better victory performances.

    He said they will judge which policy will be the reply to major unsolved problems such as the social and economic problems of the post-Economic Monetary Union (EMU) era, problems of national strategy in foreign policy in the post-Helsinki summit era and the problems of the country's institutional and political composition, with the revision of the constitution, the election system and other legislative acts which will be pending in the next parliament.

    [13] Greece joins Europe in confronting racism, labor minister says

    LISBON, 12/02/2000 (ANA)

    Greece will join the European Union's efforts to push to the margin the "dark side" of Europe, manifested by the presence of extreme rightwing Joerg Haider's party in the Austrian government, Greek Labor and Social Security Minister Miltiades Papaioannou said here on Friday.

    Speaking at the informal European Union Social Affairs Ministers' Council, Papaioannou said that "the citizens of Europe have the right to express their concern and rightly so demand of their governments and the institutional bodies of the EU to undertake the necessary measures for the unhindered democratic and social integration of Europe.

    "The measures are based on the application of the principles of democracy and stem from the binding reports of the EU," he added.

    Labor Minister Elisabeth Sickel, who belongs to Haiders party, and has expressed xenophobic views, represented Austria at the Council.

    Speaking on the same issue, Employment and Social Affairs European Union Commissioner Anna Diamantopoulou said "the European Commission sympathizes with the concerns expressed by the 14 member-states," stressing that she agreed with those concerns.

    Addressing the Council, Diamantopoulou spoke of combating racism and xenophobia, as well as of the battle against any kind of discrimination, adding that the Union is not just a common market or a monetary union but a political union of states, based on the principles of freedom and human rights.

    On a different note, Papaioannou spoke of employment and social cohesion, a subject expected to dominate discussions during the extraordinary summit in Lisbon on Mar. 23 and 24.

    He said that the Council and the Commission are responsible for the better coordination of active policies of employment with macroeconomic policies and restructuring, adding "the success of such coordination, should be a central theme during the next summit".

    On her part, presenting the views of the Commission, Diamantopoulou said that the defense of the European social model demands modernization and adjustment to the new conditions.

    [14] Greece says EU enlargement should not be at the expense of its member-states

    Athens, 12/02/2000 (ANA)

    A conference on European Union enlargement organized by the Foreign Ministry's Diplomatic Academy, in cooperation with organizations promoting European policy in Greece was held on Friday, while Alternate Foreign Minister Christos Rokofyllos said that at the EU Helsinki summit Greece had supported the EU's enlargement with seven more countries.

    However, he added that in the framework of the new intergovernmental conference, Greece will support the position that EU enlargement cannot be at the expense of member-states, and cohesion countries in particular, with a decrease in the structural aid they receive from the EU.

    The conference was also attended by the head of the Diplomatic Academy Haris Dimitriou and the ambassadors of the seven candidate countries belonging to the first wave of enlargement (Cyprus, Estonia, Slovenia, Hungary, Poland, the Czech Republic and Malta).

    A second conference will be held on Friday 18 with the participation of the ambassadors of the remaining candidate countries.

    [15] Seminar by ND's Euro-MPs focuses on upcoming Intergovernmental Conference

    Athens, 12/02/2000 (ANA)

    New Democracy's Eurodeputies organized a one-day seminar in Athens on Friday focusing on preparations for the Union's Intergovernmental Conference, set to begin on Monday.

    Several ND Euro-MPs voiced their concerns at the event, hosted at the Europarliament's representation in the Greek capital, with discussions centered on a report composed by ND Eurodeputy Giorgos Dimitrakopoulos as well as issues that dominated member-states' attention at the Tampere and Helsinki EU summits in the last half of 1999.

    On her part, Euro-MP Marietta Yiannakou emphasized that an accelerated pace in the Union's enlargement procedures necessitate reforms to relevant treaties, such as guaranteeing stability and democratic institutions.

    Beyond enlargement, the seminar touched on the issue of the better approaching the Union's citizens, a strengthening of the EU's external role in regards to security and defense as well as employment and social policy, among others.

    [16] Gov't replies to tabled question over digital transmission of ERT programs

    Athens, 12/02/2000 (ANA)

    The government stated on Friday that the digital transmission of Greek broadcasters' signals - currently sent over the airwaves in analog mode -- isn't something that's projected in the near future.

    Press and Mass Media Minister Dimitris Reppas made the statement in reply to a tabled question by Communist Party of Greece (KKE) deputy Haralambos Aggourakis, who queried the government over what he called delays in the digital transmission of the state-run network's (ERT) programs.

    "The issue is under study by the responsible agencies in Greece, however, it (digital transmission) requires massive outlays with disproportionate results," Reppas said, adding that only Britain broadcasters, among European states, have completed procedures for the digital transmission of ground-based television signals.

    He also referred to the recent announcement of a deal between ERT, the state-run telephone utility (OTE) and several private interests to develop digital satellite packages for subscribers. The minister added that a pilot program has already commenced, broadcast over the Hotbird-3 satellite platform.

    In his question, the Athens-area KKE deputy claimed that the ERT-OTE digitalization process has been delayed in relation to the platform offered by the 'NOVA' group for subscribers in Greece - a venture that includes the multinational NETMED corporation and the Athens-based broadcaster MEGA television, among others. He also cited a delay in the issuance of a license towards the state broadcaster by the transport ministry.

    In response, Reppas said ERT, unlike private firms that are governed by relevant legislation, will immediately receive its license and doesn't require sanctioning from the transport ministry or any other state agency.

    [17] Greece presents newly designed armored vehicle

    Athens, 12/02/2000 (ANA)

    The first Greek designed armored vehicle was presented on Friday by the Hellenic Vehicles Industry (ELVO) at the Litohoro, north central Greece firing range.

    The new vehicle, named "Centaur", is an advanced design based on an earlier model called "Leonidas", and is built in Greece by ELVO, with the cooperation of industries from Brazil, Germany, the Netherlands and Sweden, company officials said.

    The vehicle weighs 20 tons, has a 90 mm gun and a 7.62 mm double action machinegun both mounted on the tower, while it carries eight German made smoke bombs, company officials said, adding that it can carry eight soldiers in addition to its crew of three and can be transported in a C-130 cargo plane.

    The officials declined to comment on the price tag of the vehicle.

    High ranking Greek military officers noted that the Greek military will acquire 280 "Centaurs", adding that the production and acquisition of a version of the vehicle using wheels and not tracks, was under consideration, following recent experience gained in peace keeping operations in Kosovo.

    They added that approximately 2,000 such vehicles would be needed over the next 10 years by the military services in countries around the world, such as Malaysia, Egypt and Pakistan.

    [18] Greek stocks end mixed in subdued trade

    Athens, 12/02/2000 (ANA)

    Equity prices ended Friday's session mixed on the Athens Stock Exchange in subdued trade reflecting lack of fresh incentives and directions in the market.

    Dealers said buying focused on blue chip stocks, with shares in the bank and investment sectors scoring gains, while constructions came under pressure.

    The general index ended at 5,502.38, up 2.41 points or 0.04 percent, after moving in a narrow range between 5,561 and 5,491 points. Turnover was a low 214.12 billion drachmas.

    The FTSE/ASE 20 index for blue chip and heavy traded stocks rose 0.42 percent to end at 2,931.39 points, while the FTSE/ASE MID 40 index fell 0.74 percent to 938.19.

    The parallel market index ended at 1,625.95, off 0.52 percent.

    Broadly, decliners led advancers by 177 to 148 with another eight issues unchanged.

    Equity futures end mixed: Equity futures on the Athens Derivatives Exchange finished mixed on Friday in line with the indices on which they are based.

    On the Athens bourse, the FTSE/ASE 20 index for blue chip and heavily traded stocks ended 0.42 percent higher; and the FTSE/ASE Mid 40 for medium capitalization stocks closed 0.74 percent down.

    Turnover from equity futures fell to 6.6 billion drachmas from 7.1 billion drachmas a day earlier.

    A total of 718 contracts were traded on the FTSE/ASE 20, showing turnover of 4.1 billion drachmas.

    The contracts ended as follows: expiring February at 2,945; expiring March at 2,985; and expiring April at 2,994.

    Futures traded on the FTSE/ASE Mid 40 numbered 671, posting turnover of 2.5 billion drachmas.

    Bonds lackluster in light trade: Bonds on Friday showed signs of fatigue in the domestic secondary market, in line with trade abroad, although buyers outpaced sellers.

    The benchmark 10-year bond showed a yield of 6.55-6.57 percent from 6.58 percent in the two last sessions and 6.45-6.47 percent on Tuesday.

    The paper's yield spread over German bunds was 98 basis points from 98-100 basis points a day earlier, 98 basis points in the previous two sessions and 100 basis points on Monday.

    Trade through the central bank's electronic system totalled 68 billion drachmas from 64 billion drachmas in the previous session and 28 billion drachmas on Wednesday.

    In Friday's trade, buy orders accounted for 52 billion drachmas of turnover.

    Analysts said there was little room for the yield spread to drop lower, and that even a central bank rate cut of 75-100 basis points would have little impact on the market.

    The only factor that the market had yet to discount was the extent of the rate cut, expected in March, which was a reason for the market's fatigue, the analysts said.

    Drachma falls vs. euro, dollar: The drachma on Friday nosed down against the euro and fell sharply against the US dollar in the domestic foreign exchange market.

    At the central bank's daily fixing, the euro was set at 332.930 drachmas from 332.880 drachmas a day earlier and 332.850 drachmas on Wednesday.

    Also at the fixing, the dollar was set at 338.390 drachmas from 336.180 drachmas in the previous session and 335.950 drachmas on Wednesday.

    [19] Blue chips maintain ASE's upward bias

    Athens, 12/02/2000 (ANA)

    The Athens Stock Exchange ended the week with gains despite an early wave of profit taking and signs of investors' fatigue following a strong rally in the previous two weeks.

    Dealers said the market's outlook remained positive, despite a normal correction of prices, as foreign and domestic institutional investors returned steadily into the market.

    State-controlled companies' stocks were at the focus of attention scoring the biggest percentage gains in the week.

    On the other hand, smaller capitalization stocks succumbed to profit taking.

    The FTSE/ASE 20 index for blue chip and heavy traded stocks rose 4.46 percent in the week, while the FTSE/ASE MID 40 index fell 2.32 percent.

    The general index ended the week 123.30 points higher, or 2.29 percent. Turnover totalled 1.678 trillion drachmas, or an average 335.689 billion drachmas, up from 302.872 billion in the previous week.

    [20] Farmers to get 20 pct equity discount from convertible bonds

    Athens, 12/02/2000 (ANA)

    Convertible bonds in the Agricultural Bank of Greece, which is slated for flotation on the Athens Stock Exchange by the end of the year, will be offered directly to farmers and farming cooperatives, allowing a 20 percent discount on conversion into equity, the finance ministry said on Friday.

    The move is part of a share capital increase for Agricultural that aims to ease stock purchases for farmers in the partial privatization of the bank, the ministry said in a statement.

    Sale of the securities, named Agricultural Convertible Bonds, will raise Agricultural Bank's share capital by 200 billion drachmas.

    The measure will not impinge on the rights of existing holders of the state's convertible privatization bonds. Holders will be asked to exercise their equity option in November, the statement said.

    [21] Bouncing checks fall, bankruptcies rise in January

    Athens, 12/02/2000 (ANA)

    Credit conditions improved in January with the number of bouncing checks and bills falling despite a rise in bankruptcies, Bank of Greece figures showed on Friday.

    Bouncing checks totalled 9,026, worth 23.37 billion drachmas, down 26.2 and 7.7 percent, respectively, compared with the same month in 1999.

    Bouncing bills totalled 27,693, worth 7.8 billion drachmas, a fall of 0.58 and 6.09 percent, respectively.

    Bankruptcy applications, however, rose to 81 from 63 last year and the number of bankruptcies increased to 97 from 61.

    [22] Government says backs individual initiatives to introduce 35-hour working week

    Athens, 12/02/2000 (ANA)

    Greece's deputy labor minister said on Friday that the government was willing to support initiatives to introduce the 35-hour working week but that the blanket application of reduced hours on full pay was unlikely.

    Deputy Labor Minister Christos Protopappas, speaking at a seminar held by the Organization for Public Transport (OASA) on introducing the 35-hour working week, said that the wider introduction of reduced working hours was not feasible at the present time.

    "But any companies introducing the 35-hour week and, through this, creating new jobs, will be able to take advantage of special subsidy programs run by the Manpower Organization, OAED," Protopappas said.

    He said that reduced working hours would come about "gradually" through negotiations between employers and employees.

    The 35-hour working week is being applied in some private sector companies, including firms such as leading information technology and telecoms manufacturer Intracom, on a pilot basis in banks and in the Hellenic Telecommunications Organization.

    The Federation of Greek Industries, representing employers, has not welcomed the 35-hour week being debated in the European Union, and consultations so far have implied a pay cut if the measure were to be introduced.

    Opponents of the move have argued that the competitiveness of domestic firms would drop against their rivals abroad and would mainly harm small and medium-size enterprises.

    Christos Polyzogopoulos, the president of the General Confederation of Workers of Greece (GSEE), who have adopted the introduction of the 35-hour working week as a basic demand, claimed at Friday's seminar that the universal introduction of a reduced working week would create 120,000 new jobs and save another 40,000 from the axe.

    But Polyzogopoulos also admitted that the introduction of the 35-hour week was not feasible at the present time, since it would lead to an estimated 6.0-7.0 percent increase in the cost of labor.

    [23] Ten new EU information centers in Greece

    Athens, 12/02/2000 (ANA)

    Ten new European Union information centers are opening in Greece to provide information on EU issues to people throughout the country, the Athens office of the European Commission announced Friday.

    The centers provide general information on European issues and programs, as well as specialized information.

    The Commission said in a press release that five new citizen information offices, or "Info Points" would open in the cities of Lamia, Rhodes, Iraklion (Crete), Patras and Larissa, to supplement those already in operation in Athens, Thessaloniki and Komotini.

    Also, four new agricultural information junctures, or "Carrefours" offices, would open in Livadia, Xanthi, Naxos and Kalamata, supplementing those of Thessaloniki, Ioannina, Karditsa, Egio and Hania (Crete).

    In addition, a new European Documentation Center (CDE) had been set up at the University of Crete in Rethymno, supplementing those of Athens, Piraeus, Thessaloniki and Komotini.

    The Commission further noted that 14 Euro Info Centers for businesses were operating in Athens, Piraeus, Thessaloniki, Volos, Iraklio, Ioannina, Kavala, Larissa, Rhodes, Komotini, Tripolis, Kozani and Corfu.

    [24] Marble, building material trade fairs in February

    Athens, 12/02/2000 (ANA)

    Two international trade fairs are to be held simultaneously in Thessaloniki on February 17 to 20 - the Infacoma building materials and Marmin marble exhibitions.

    Both events are to be held at the installations of the Thessaloniki international trade fair.

    Infacoma spans building materials, insulation, door and window frames, bathroom fixtures, heating and air-conditioning, solar energy and technology.

    Due to display their wares at Infacoma are 384 exhibitors from abroad and 392 from Greece.

    Marmin covers marble, minerals and sector equipment. Of 129 exhibitors, 73 are from Greece and 56 from abroad.

    [25] Greece will soon comply with requirements for US visa waiver, spokesman says

    Athens, 12/02/2000 (ANA)

    Greece will soon qualify for a US visa waiver pilot program that already includes 29 nations, a Greek government spokesman said on Friday.

    According to an AP report, Yiannis Nikolaou said that soon the passport issuing system would comply with US and European Union requirements as prescribed by the Union's Schengen Treaty. The move would satisfy conditions for the US visa waiver program. Congress had voted last year for Greece to join the program when it does fulfil the criteria set by the US government. Under the program tourists and businessmen can enter the US without obtaining a visa and can stay in the country for 90 days, on condition that they have a return ticket to Greece.

    "Greece has been informed that upon fulfillment of specified conditions it will be designated also," Assistant Secretary of State for Consular Affairs Mary Ryan said, speaking to a Congress Immigration Subcommittee, according to an Associated Press report.

    There were however voices in Congress against Greece's designation quoting lack of progress in "terrorism" as a problem.

    Wayne Merry, a former US diplomat who served in Greece, argued that "until the Greek government takes the minimal step of apprehending the murderers of our diplomatic and military representatives . . . the US should deny . . . waiving the visa requirement".

    Merry is now the director of the Atlantic Council of the United States, a private foundation

    [26] U.S. Mission in Greece hosts Balkan regional counter-narcotics meeting

    Athens, 12/02/2000 (ANA)

    The American Consulate General in Thessaloniki in cooperation with the Office of the U.S. Drug Enforcement Administration at the American Embassy in Athens hosted a Balkan Regional Counter-Narcotics Meeting from February 9-10, with the participation of officials from Greece, Bulgaria, and the Former Yugoslav Republic of Macedonia (FYROM), the Consulate General in Thessaloniki announced in a press release on Friday.

    Participants included representatives of the Hellenic Police, the Hellenic Customs, the Hellenic Economic and Financial Crimes Unit, the Hellenic Coast Guard, the Bulgarian National Service to Combat Organized Crime, and the National Police of FYROM.

    "During the meeting, participants discussed the region's growing narcotics problem and the spread of organized criminal elements. The participants also shared ideas and opened communication links to combat this growing phenomenon. The United States and

    Greece are working well and cooperatively together on narcotics interdiction as evidenced by our recent joint successes in the region, the announcement concluded.

    [27] Recovered Corinthian artifacts about to begin journey from NY to Greece

    Athens, 12/02/2000 (ANA)

    Plans are underway for the repatriation from New York to Greece of the 271 items stolen from the Corinth Archaeological Museum over ten years ago, the U.S. Embassy in Athens announced in a press release on Friday.

    The Unites States Federal Bureau of Investigation, in cooperation with the Hellenic Police Antiquities Unit, tracked 268 of the priceless objects to a warehouse in Miami, where they were discovered last September. Three additional Roman period items, which completed the list of items stolen in April 1990, were found in January.

    Commenting on the prospect of the objects' return, American Ambassador Nicholas Burns said that he was proud of the cooperation of U.S. and Greek authorities in this case.

    "The recovery of these important examples of Greece's cultural heritage was a superb demonstration of bilateral cooperation in the area of law enforcement. We are committed to assisting the government of the Hellenic Republic to protect its cultural patrimony. I am looking forward to seeing these items in place in the Corinth Museum," Burns said.

    The FBI has also worked with the Hellenic Police in the identification and location of those suspected of one of the largest antiquities thefts in recent years.

    [28] Regional sports planning to get 200 billion drachmas boost

    Athens, 12/02/2000 (ANA)

    Deputy Minister for Sports Andreas Fouras told reporters that the government had on Friday approved 200 billion drachmas for sports infrastructure projects in the Greek provinces.

    Fouras made the announcement after a meeting chaired by Prime Minister Costas Simitis on the 2004 Olympic Games.

    The minister clarified that the provincial projects referred to be separate from planning for the Olympic Games.


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