Athens News Agency: Daily News Bulletin in English, 00-04-20

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

CONTENTS

[01] Papantoniou says Balkan reconstruction needs stability and credible institutions

[02] The high price Greece has paid for security and defense has given it a deterrent capability, defense minister says

[03] Cyprus issue discussed in light of third round of proximity talks in New York

[04] PM Simitis calls for 'collective action', not infighting among PASOK cadres

[05] Karamanlis announces special ND congress for early June

[06] Swearing-in ceremony for MPs on Thursday

[07] Multifaceted bill on agricultural issues to be tabled in Parliament

[08] Karatzas sees 'exceptional' future for Greek capital market despite fluctuations

[09] Greek stocks rebound strongly on ASE

[10] Turkish industry minister to attend Greek-Turkish fair

[11] Greek, Turkish business consultants launch alliance

[12] Greek, Turkish business leaders call for cooperation in trade, economy

[13] Central bank reduces key intervention rates

[14] National Bank cuts rates up to 75 basis points

[15] Intracom signs defense systems deal with Thomson

[16] Finance ministry to offer "agrometoha" securities to investors

[17] Successive gov't meetings focus on energy market deregulation, DEH flotation

[18] Greeks most hopeful, least satisfied European citizens, confidence gauge shows

[19] WHO launches international 'Stop Smoking and Win' competition

[20] New Greece-Bulgaria road to protect bears

[21] Cyprus to host next meeting of parliament presidents of EU-accession candidate countries

[22] Kasoulides discusses Cyprus problem with US former governor Dukakis

[01] Papantoniou says Balkan reconstruction needs stability and credible institutions

Athens, 20/04/2000 (ANA)

He was speaking at an Economist magazine conference in an Athens seaside resort on the subject of "Balkan reconstruction and the role of Greece in SE Europe".

He said everyone's answer to the question whether the end of the war in Yugoslavia had signaled the end of the age of conflict, should include the elements of a final exit from the vicious circle of clashes.

He reminded that the National Economy ministry had played a leading role in the Balkan reconstruction plan, budgeted at 180 billion drachmas. The initiatives focus on productive and social infrastructures and the basic branches of economic activity, while emphasis would also be given to health, housing and education, he said.

Papantoniou also referred to the issue of cooperation between the public and private sectors, saying that targets should be ambitious and attained through efficient preparation of moves and systematic application of decisions.

Greek investment in the Balkans is estimated at $2.5 billion, which ranks it fifth among all countries.

Papantoniou said this effort had to continue and be intensified and urged banks to play a more active role.

[02] The high price Greece has paid for security and defense has given it a deterrent capability, defense minister says

Athens, 20/04/2000 (ANA)

Speaking at an international round-table conference on Development and Security in SE Europe organized by The Economist magazine at the seaside town of Vouliagmeni outside Athens, Tsohatzopoulos also said that the stability that now existed in Greece's relations with Turkey was proof of the fact that there no longer existed threats of the use of violence, as in the past.

"Greece's substantial deterrent capability, which is founded on a modern military and (defense) systems, has neutralized the dangers and functions in favor of stability," the minister said.

Tsohatzopoulos anticipated that the support provided by Greece for Turkey's European vocation will be strengthened as Turkey increasingly adapts to the European standards.

Europe, in turn, must acquire its own capability for independent intervention in the region in order to strengthen its political role there, the minister added.

Tsohatzopoulos further expressed the "certainty conveyed by EU officials" that the Republic of Cyprus will comprise an equal member, following the decisions reached at the EU summit in Helsinki which he said created a firm framework for a European course since Cyprus "already fulfills all the Maastricht criteria and has forged a course of guaranteed development".

Replying to questions, Tsohatzopoulos said the EU had the ability to evolve, in the future, into an economic power possibly equal to the US, but it could not do so in the military field.

The EU "cannot become a military superpower. Economically equal with the US, perhaps", he said, "but this depends on the degree to which it will develop a defense and military identity of its own".

"Perhaps then Europe will develop a more competitive role. At any rate, we pinned and pin many of our hopes on the joint Euro-Atlantic security. In this new era, we will be judged on whether we can move ahead equally well," Tsohatzopoulos said.

[03] Cyprus issue discussed in light of third round of proximity talks in New York

Athens, 20/04/2000 (ANA)

Papandreou termed his talks with Vassiliou "constructive" and thanked him for his views and advice "which are always useful since they come from experience and a profound knowledge of the Cyprus issue."

Vassiliou, on his part, expressed the hope that during the Greek government's new period of office "both the Cyprus issue will be solved and Cyprus will become a member of the EU."

He appeared reserved over developments on the Cyprus issue, stressing that "the Turkish side has shown no signs of a change in position and this is an unfortunate reality" and adding that "we are going to the meeting in New York without having much hope, unless a miracle takes place and their position changes."

On the other hand, Vassiliou expressed satisfaction over the course of accession negotiations, underlining that 15 chapters have already closed temporarily, while the 16th is expected to close next month. He also took the opportunity to thank Greece and the Greek FM for their vital support for Cyprus.

Commenting on the content of the third round of proximity talks and on the impression that "issues have been exhausted in the two previous ones", Vassiliou said the president of Cyprus has this very view and that he has repeatedly told his foreign interlocutors, including the British and Americans, that no progress has been achieved in discussions held so far, while they on their part assured that substantive negotiations will be able to be held at some time.

Referring to the prospects of the Turkish Cypriots participating in accession negotiations, Vassiliou reiterated that if Turkish Cypriot leader Rauf Denktash agrees to participate in the negotiating team of Cyprus "this will be a very positive step, while at the same time I will be more optimistic on the prospects of the Cyprus issue."

[04] PM Simitis calls for 'collective action', not infighting among PASOK cadres

Athens, 20/04/2000 (ANA)

Simitis was referring to "verbal exchange" earlier in the week between two of the ruling party's top cadres, namely, newly appointed Culture Minister Theodoros Pangalos and former minister Evangelos Venizelos -- who held the development portfolio in the last government. Pangalos on Monday had referred to financial mismanagement in the funding of several NGOs by the culture ministry during Venizelos' tenure as minister in 1998, a charge that brought an angry rebuttal and statements from the latter.

However, both men on Wednesday appeared together and smiling before the executive bureau meeting, while the two also held a private meeting with Simitis at PASOK's headquarters.

The premier later announced that the issue "was over", echoing calmer remarks by the two protagonists on Tuesday.

In other statements to executive bureau members, Simitis called the outcome of the April 9 election "significant", despite the narrow difference the ruling party posted against main opposition New Democracy. He added that PASOK's 2.5-percent increase in the April 2000 from its showing in the 1996 election was "unprecedented", as was the party's third consecutive victory.

"The Greek people have opted for stability, development, and social cohesion," Simitis said at the meeting, while noting that both the executive bureau and PASOK central committee will analyze the latest election result in upcoming sessions.

Finally, he reiterated that the government will fully implement all of PASOK pre-election commitments, "we'll try to achieve the highest possible rates of development, while the social state comprises the key to our policy".

Simitis and PASOK earned 43.79 percent (158 deputies) of the vote in the early April election to main opposition New Democracy's 42.73 (125 deputies).

[05] Karamanlis announces special ND congress for early June

Athens, 20/04/2000 (ANA)

Karamanlis announced the June 3-4 congress during the first session of ND's new Parliamentary group following the April 9 general elections, noting however, that a regular party congress will be convened later, as foreseen by ND's charter.

Ruling PASOK and incumbent prime minister Costas Simitis were re-elected by a one-point margin in the recent poll, as both major parties earned near 87 percent of the general vote.

In criticizing the PASOK government, the ND leader charged that the ruling party has "politicized the state" and turned the "party into the state", while he also referred to what he called fanaticism on the part of PASOK during the campaign period.

Additionally, in citing what he said was an "electoral tie" between PASOK and New Democracy, Karamanlis emphasized that "the government may have earned a few thousand votes more, but ND ensured its future prospects while the government (ensured) its own impasse."

"...we're one step behind them. We're their shadow, they cannot bypass us, they don't have the ability any more to exploit office with an 'establishment-like mentality'."

New ND Parliamentary group secretary: Meanwhile, during the same session on Wednesday, the main opposition's deputies elected a new Parliamentary group secretary, with Dimitris Sioufas assuming the post with a majority of 91 votes.

Corinth prefecture deputy Stavros Dimas, the previous secretary, declined to vie for the position.

Sioufas, who was proposed by Karamanlis himself, faced only one challenger, Apostolos Andreoulakos, who gained the votes of 23 deputies. Six blank ballots were also cast in the secret vote.

Finally, former premier and ND honorary president Constantine Mitsotakis did not attend the session.

[06] Swearing-in ceremony for MPs on Thursday

Athens, 20/04/2000 (ANA)

Apostolos Kaklamanis, a veteran deputy from ruling PASOK, is expected to be re-elected as Parliament president. According to reports, main opposition New Democracy will propose Corinth prefecture deputy Stavros Dimas for the post.

General elections were held in the country on April 9.

[07] Multifaceted bill on agricultural issues to be tabled in Parliament

Athens, 20/04/2000 (ANA)

Anomeritis gave no details of the bill's clauses but said he will make across-the-board announcements next week on policy statements concerning the Agriculture Ministry, immediately after relevant statements are made by Prime Minister Costas Simitis.

[08] Karatzas sees 'exceptional' future for Greek capital market despite fluctuations

Athens, 20/04/2000 (ANA)

Speaking on a television program on private Mega Channel, Karatzas, who is governor of the National Bank of Greece, said that "the future of the Greek capital market will be exceptional because the country's economy is on a very positive course".

"The performance of the real economy has exceeded all precedents," Karatzas said, adding that "beyond the growth of the macro-economic indicators, a wide-scale productive restructuring is taking place right now in Greece -- businesses are developing, new productive activities are being created -- which in a short time will become clearly perceptible".

Regarding the daily fluctuations on the Athens Stock Exchange, particularly the recent plunges, which he described as "unjustified", Karatzas said they should not "affect us", adding that if one calmly assessed the conditions, one would see that "it is impossible that the future of the markets will not be a positive one".

Commenting on the prospect of public sector institutional investors, and especially the state social security funds, investing in the stock of medium capitalization companies, Karatzas said that such a move would not be particularly easy as it would require specialized management units in all those institutional investors.

Karatzas said that the management of the social security funds' real estate assets, and those of the banks more generally, was entering a new stage of development which would no longer be "micro-management but a capital-intensive management of substantial returns".

[09] Greek stocks rebound strongly on ASE

Athens, 20/04/2000 (ANA)

Dealers said a decision by the Bank of Greece to cut its interest rates by 50 to 75 basis points combined with an improved climate in international market, boosted sentiment in the Greek bourse.

The general index ended at 4,257.85 points, up 7.74 percent, reflecting gains in blue chip stocks in the banks and industrials sectors.

Turnover was an improved 179.34 billion drachmas. The FTSE/ASE 20 index for blue chip and heavy traded stocks jumped 7.85 percent to 2,427.48 points and the FTSE/ASE 40 index ended at 567.18 points, up 7.70 percent.

Sector indices ended as follows: Banks: 8,415.54 +8.23% Leasing: 863.07 +8.23% Insurance: 2,888.98 +4.05% Investment: 1,817.65 +7.22% Construction: 2,029.65 +8.05% Industrials: 2,538.20 +8.00% Miscellaneous: 4,102.82 +8.07% Holding: 4,676.04 +6.46%

The parallel market index for smaller capitalization stocks ended at 740.23 points, up 9.47 percent.

Broadly, advancers led decliners by 332 to seven. Hellenic Telecoms, Commercial Bank and Alpha Credit Bank were the most heavily traded stocks.

Leading shares' closing prices (in Drs): National Bank: 22,000 Alpha Credit: 21,600 Commercial Bank: 20,000 Ergobank: 7,650 Eurobank: 10,590 Hellenic Telecoms: 8,390 Panafon: 4,350 Hellenic Petroleum: 4,150 Intracom: 12,850 Minoan Lines: 5,640 Hellenic Bottling: 6,020 Heracles Cement: 8,250 Titan Cement (c): 14,480

Derivatives prices end sharply higher: Derivatives prices ended sharply up on Wednesday in heavy volume, following a spectacular rebound in the two benchmark indices, FTSE/ASE 20 and FTSE/ASE 40.

A total of 6,064 futures contracts were traded, worth 20.5 billion drachmas.

Turnover on the FTSE/ASE 20 futures contracts totalled 3,038 contracts, worth 14 billion drachmas. The April expiring contract ended at 2,400 points, the May at 2,398.25 and the June contract at 2,390 points.

A total of 3,026 futures contracts were traded on the FTSE/ASE 40 index, worth 6.5 billion drachmas. The April expiring contract ended at 564.50 points, the May at 564.50 and the June contract at 563.75 points.

Bonds rise in buy-oriented trade: Bond prices in the domestic secondary market rose in moderate trade on Wednesday with interest focused mainly on long-term paper.1

The Greek benchmark 10-year bond showed a yield of 6.06 percent for the second straight session from 6.11 percent on Monday and 6.10 percent on Friday.

The paper's yield spread over German bunds was 78 basis points from 84 basis points in the previous session and 88 basis points on Monday.

Turnover through the central bank's electronic system totalled 76 billion drachmas from 46 billion drachmas a day earlier and 14 billion drachmas on Monday.

Of Wednesday's total, buy orders accounted for 60 billion drachmas of turnover and sell orders the remaining 16 billion drachmas.

Drachma drops vs. euro, dollar: The drachma on Wednesday fell against the euro and dropped sharply versus the US dollar in the domestic foreign exchange market.

The Bank of Greece did not intervene, traders said.

At the central bank's daily fixing, the euro was set at 335.370 drachmas from 335.290 drachmas a day earlier and 335.350 drachmas on Monday.

Also at the fixing, the US dollar was set at 354.100 drachmas from 352.870 drachmas in the previous session and 349.440 drachmas on Monday.

[10] Turkish industry minister to attend Greek-Turkish fair

ISTANBUL, 20/04/2000 (ANA-A.Kourkoulas)

Also due to attend is Greece's ambassador in Ankara, Ioannis Korantis.

Taking part are 90 Turkish companies, the Ankara Chamber of Commerce (ATO) and the Turkish Contractors Union.

"The initiative for stable peace between Greece and Turkey must be taken by citizens of both countries," ATO president Sinan Aygun said.

In addition, members of a 210-strong business delegation will hold talks with Greek representatives on cooperation in tourism.

Also on the agenda is a proposal the delegation will make to the Athens Chamber of Commerce and Industry that the two associations should set up a working group to improve relations between Greece and Turkey and arrange a Greek-Turkish trade fair in Ankara next year.

"I am sure that both peoples will benefit from a closening of economic ties between the two countries," said Sarik Tara, president of the Turkish-Greek Business Council.

The trade fair includes a joint fashion show by designers Michael Aslanis of Greece and Cemil Ipekci of Turkey.

[11] Greek, Turkish business consultants launch alliance

Athens, 20/04/2000 (ANA)

Taking part in the initiative are Euroconsultants SA and Exergia SA of Greece and Merkat of Turkey.

The firms plan to join forces in Europe, the Mediterranean and Asia through creation of an Istanbul-based unit named Eurogroup.

Eurogroup will be represented through the parent companies' offices in Istanbul, Athens, Thessaloniki, Brussels, Washington, Prague, Sofia and Skopje.

Among services the new unit will offer are advice and information to Turkish national organizations, private enterprises and local government in connection with the neighboring country's bid to join the European Union.

Eurogroup has scheduled a seminar in Istanbul on May 29-31 on corporate preparations for entry aimed at Turkish industry executives.

[12] Greek, Turkish business leaders call for cooperation in trade, economy

Athens, 20/04/2000 (ANA)

"First (should come) the bilateral cooperative efforts and then the regional," Kaslowski said, adding that the businessmen of the two countries should take advantage of the correctly formulated climate and expand their activities in the two countries.

A second step in this process, he said, would be the joint activation of Greek and Turkish businessmen with joint ventures in central Asia, adding that this business cooperation is supported by the meetings of the Work Groups, composed of officials from both countries and dealing with securing the stock exchange, the merchant marine, tourism, construction and energy.

On his part, the President of the Greek-Turkish Business Cooperation Council Panagiotis Koutsikos said that the hope and wish of businessmen from both countries is the disengagement of trade and economic relations from the dependence on political conditions.

[13] Central bank reduces key intervention rates

Athens, 20/04/2000 (ANA)

After a meeting of its Monetary Policy Council, the central bank announced a 0.50 percentage point reduction in the weekly intervention rate for two-week funds from 9.25 to 8.75 percent. The Bank of Greece uses the rate in a tender most Wednesdays to help regulate liquidity in the interbank market.

It also slashed the primary overnight lending rate by 0.75 percentage point from 8.75 percent to 8.0, and the secondary overnight rate by 0.50 percentage point from 8.0 percent to 7.5 percent.

In addition, the central bank reduced the Lombard rate by 0.75 percentage point from 10.25 percent to 9.50 percent.

The Monetary Policy Council said in a statement that its decision to go ahead with the rate cuts took into account the developments on the inflation front and the containment of credit expansion in the entire economy.

[14] National Bank cuts rates up to 75 basis points

Athens, 20/04/2000 (ANA)

Theodore Karatzas, the bank's governor, has repeatedly said that National Bank would follow suit any interest rate moves by the Bank of Greece.

The bank said it would cut its deposit interest rates by 50 basis points to 6.0 percent and its current accounts rate to 4.50 percent.

Its lending rates to businesses would be cut by up to one percentage point to 10.0 percent, consumer loan rates would fall to 14.50 percent, personal loans to 15.0 percent and credit card rates to 17.0 percent, for a cut of 25 basis points.

Car purchase loan rates are cut to 15.0 percent (floating) and 14.0 percent (fixed). Securities purchase loan rates fall to 15.75 percent.

Housing loan interest rates are cut to 10.25 percent (floating).

[15] Intracom signs defense systems deal with Thomson

Athens, 20/04/2000 (ANA)

Intracom's production of the electronic systems will be exported.

Anadolu report cites Commercial Bank purchase in Turkish company ISTANBUL, 20/04/2000 (A. - Kourkoulas)

State-owned Commercial Bank of Greece has reportedly purchased 12.5 percent of the Turkish packaging company Isiklar Package, according to the board chairman of the group owning the firm.

According to a dispatch by the semi-official Anadolu news agency, Isiklar group chairman Riza Kutluisik said the purchase totaled $10.5 million, with the money earmarked for investment in a paper wrapper plant the company operates in Bulgaria.

The Turkish executive was also quoted as saying the investment will target the manufacturing of cement packaging for the European market as well as for countries of the former Soviet Union.

[16] Finance ministry to offer "agrometoha" securities to investors

Athens, 20/04/2000 (ANA)

Investors will be able to exchange, in a preferential way, the "agrometoha" securities to Agricultural Bank of Greece's shares at the time of the bank's listing in the Athens Stock Exchange.

A finance ministry statement said that issue date was May 22, 2000 and maturity date May 22, 2003.

"Agrometoha" are offering high yields to investors because of their attractive fixed interest rate, and they are tax-free. Minimum investment was set at a nominal value of 100,000 drachmas.

[17] Successive gov't meetings focus on energy market deregulation, DEH flotation

Athens, 20/04/2000 (ANA)

Contacts by relative ministers were held in light of Prime Minister Costas Simitis' speech on Saturday announcing the government's policy statements.

[18] Greeks most hopeful, least satisfied European citizens, confidence gauge shows

BRUSSELS, 20/04/2000 (ANA - M. Spynthourakis)

Forty-four per cent of Greeks answered that they are optimistic that their life will be better in 2000, compared to 33 per cent of the Union average. Meanwhile, only 10 per cent of Greeks declared that they are satisfied by the conditions of their lives at present, with the rest 90 per cent declaring very little or not satisfied at all.

The confidence gauge focused on everyday life problems, the introduction of the new common currency, the euro and the Union's enlargement.

According to the results of the confidence gauge, 51 per cent of Europeans supported the unification process, while 13 per cent were against. In Greece, 59 per cent responded positively and only 7 per cent were against.

Regarding national identity 45 per cent of Europeans declared that they have only one "national identity", 4 per cent declared a "European identity" and the remaining 50 per cent declared they have both. On the same subject, in Greece 60 per cent of citizens declared "national identity and only 1 per cent declared they have a European only identity.

A whopping 97 per cent of Greeks declared nationally proud, while the Union average was 83 per cent, with Germany ranking last with 67 per cent.

Responding to the level of satisfaction regarding the function of the democratic institutions in their country 56 per cent of Union citizens were positive, while 53 per cent of Greeks declared the same, Italians, however ranked last responding negatively, to the tune of 70 per cent.

The European wide confidence gauge also indicated that 46 per cent of member-states' citizens considered the participation of their country in the Union a positive affair, while 31 per cent disagreed. On the same issue, 70 per cent of Greeks declared that their country's participation had a positive impact, while 15 per cent considered it damaging.

Regarding the euro, 60 per cent of Europeans supported the common currency and 32 per cent declared their opposition. Greeks ranked higher than the average with 70 per cent approval, while the British ranked at last place with only 25 per cent support for the euro.

It should be noted that the same confidence gauge showed that only 2 per cent declared that they were very well informed regarding the euro, while another 57 per cent declared "not so well informed".

Regarding issues of enlargement, 43 per cent of Europeans declared their support for Cyprus' accession, with a 33 per cent against. Greeks on their part supported Cyprus' accession by a whopping 88 per cent, with only 5 per cent being against.

To the contrary, 47 per cent of the Union's citizens declared their opposition to Turkey's accession, with 30 per cent in support, while in Greece 23 per cent of citizens supported that country's bid to join and 69 per cent were against.

[19] WHO launches international 'Stop Smoking and Win' competition

Athens, 20/04/2000 (ANA)

According to WHO figures, the number of deaths caused from smoking are not high enough to convince chain smokers to stop the habit.

The president of the Anti-Cancer Action, Professor S. Vasilaros, in a press conference in Athens on Wednesday, said that the fourth international anti-smoking competition "Stop Smoking and Win" will be conducted in May. People from all over the world will try to abstain from smoking, or using tobacco products, for the period May 2-29.

For purely technical reasons, applications for those interested will be accepted only from the Attica region. The deadline for submitting applications expires on May 2.

Those entitled to take part must be at least 18 years old and have smoked on a daily basis for at least one year before the start of the competition. Abstinence from smoking will be certified by a witness of the competitor's choice and following biochemical analysis.

The lottery will be conducted among the registered participants. Those drawn from Greece will win two return tickets to a European destination and at the same time enter the international lottery which offers a prize of 10,000 US dollars.

The competition's award ceremony will take place on August 29, within the framework of "World Health Dialogue and International EXPO Exhibition".

Applications for the competition can be mailed to the offices of Anti-Cancer Action, Semitelou 4, 11528 Athens or sent by FAX to 7788698-7483189.

[20] New Greece-Bulgaria road to protect bears

Athens, 20/04/2000 (ANA)

Under the contract signed in Sofia, the 13-kilometre long road will include a 590-metre tunnel for the protection of bears.

The road will be located in the western part of the Rhodopi mountain range and contain a border post.

Construction of the tunnel will cost 2.5 million euros. It aims to protect the roughly 15 bears that frequently cross the two countries' border.

The overall budget for the project, whose contractor is Proodeftiki of Greece, is nine million euros.

Sicorno of Bulgaria will handle the construction of buildings and the border post.

[21] Cyprus to host next meeting of parliament presidents of EU-accession candidate countries

NICOSIA, 20/04/2000 (CNA/ANA)

This was decided after the conclusion of the two-day 9th meeting which ended on Wednesday in Ljubljana, Slovenia.

A joint statement on the 9th meeting adopted unanimously by the participants says they "agreed that the next meeting should take place in Cyprus in the autumn of 2000".

The Ljubliana meeting was the first attended by the Turkish parliament following the European Council decision in Helsinki to include Turkey in the EU enlargement process.

According to an official statement, in the Slovenian capital the Turkish delegation disagreed with the selection of Cyprus as the venue of the 10th meeting and tried to include its objections in a joint statement footnote.

House Deputy President Nicos Anastasiades who represented the Cyprus parliament in the Ljubljana meeting was however reassured by participants and EP officials that Turkey's objections could be accepted, the official statement says.

Addressing the meeting, Anastasiades denounced the Turkish delegation's stance, stressing that it was not in line with "the spirit of mutual understanding and mutual respect prevailing in similar meetings".

He pointed out however that the Turkish delegation will be welcome in Cyprus to participate in the 10th meeting.

Cyprus started substantive accession negotiations with the EU in November 1998.

[22] Kasoulides discusses Cyprus problem with US former governor Dukakis

NICOSIA, 20/04/2000 (CNA/ANA)

Speaking after the meeting, Kasoulides said he and Dukakis examined broader issues concerning the region and ways of assisting efforts to find a solution to the Cyprus problem.

Kasoulides praised Dukakis' personal and strong interest in the Cyprus issue and noted his ongoing efforts towards reaching a settlement.

Dukakis said he is "cautiously optimistic", adding however that "this is the best opportunity we have had in a long long time to make some progress".

He expressed hope that the USA will be "extremely helpful on that" as US President Bill Clinton was in Helsinki, apparently referring to the European Union summit, regarding decisions on Cyprus and Turkey.

Replying to a question, Dukakis said President Clinton "has a very strong and personal interest in trying to bring this matter to a satisfactory settlement".

He added that President Clinton believes that the decisions taken at the Helsinki summit was a "major breakthrough".

Dukakis noted that "Helsinki put some forces in motion which have not been there before. The question is whether we move forward or we fall back".

Dukakis leaves on Thursday.

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