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MPA NEWS IN ENGLISH (22/05/1996)From: Macedonian Press Agency <mpa@philippos.mpa.gr>Macedonian Press Agency News in English DirectoryMACEDONIAN PRESS AGENCY NEWS IN ENGLISHThessaloniki, May 22, 1996[A] NATIONAL NEWS[B] INTERNATIONAL NEWSTITLES[A] NATIONAL NEWS[01] 20TH GENERAL ASSEMBLY OF EUROPEAN MAYORS BEGINS IN THESSALONIKI[02] JACQUES SANTER: EUROPE CAN DEVELOP THROUGH THE MUNICIPALITIES AND REGIONS[03] MINISTER OF INTERIOR ADDRESSES 20TH GENERAL ASSEMBLY IN THESSALONIKI[04] EUROPE'S NEW "CONSTITUTION" MUST GIVE WEIGHT TO LOCAL GOVERNMENT[05] AUTHORIZED DIPLOMATS FROM GREECE AND TURKEY WILL MEET ON MAY 28TH[06] THE GREEK PRIME MINISTER MET WITH HIS SERB COUNTERPART IN ATHENS[07] TURK AND GREEK DIPLOMATS TO PAVE THE GROUND FOR FOREIGN MINISTERS MEETING[08] "THRACE" TRADE EXHIBIT TO GROW INTO INTERNATIONAL DEVELOPMENT BASE[09] THE VISA ISSUING SYSTEM AT THE GREEK-SKOPJAN BORDERS BECOMES COMPUTERIZED[10] TOURIST COOPERATION BETWEEN GREECE AND THE CZECH REPUBLIC[11] TOURIST COOPERATION BETWEEN GREECE AND THE ARAB COUNTRIES[12] TWO-DAY CONFERENCE ON FOREIGN POLICY AND THE ROLE OF MASS MEDIA WILL BE HELD IN ATHENS[13] YIANNIS IOANNIDIS IS NO LONGER THE COACH OF OLYMPIAKOS BASKETBALL TEAM[B] INTERNATIONAL NEWS[14] MEMORANDUM ON THE EU ISLAND REGIONS WAS SUBMITTED BY GREECE TO THE INTER-GOVERNMENTAL CONFERENCE MEETING HELD TODAY[15] EUROPEAN COMMISSION TO ADOPT PROPOSAL ON FETA CHEESE[16] CYPRUS WILL NOT BECOME EU MEMBER BEFORE CYPRIOT ISSUE IS RESOLVED, SAYS GONENSAY[17] WORLD COORDINATING COMMITTEE ON THE CYPRIOT STRUGGLE BEGINS WASHINGTON SESSION[18] DENKTASH REJECTS TALK FOR ESTABLISHING MULTI-NATIONAL FORCES ON CYPRUS[19] US HOUSE OF REPS TO DISCUSS REDUCTION OF ECONOMIC AID TO TURKEY, OR EVEN COMPLETE WITHDRAWAL OF FUNDS[20] MILOSEVIC MET WITH VICE-PRESIDENT OF THE REPUBLICA SRPSKA[21] DEMILITARIZATION IN EASTERN SLAVONIA BEGAN[22] ROMANIAN NATIONAL BANK GET BB RATING[23] BALKAN FOREIGN MINISTERS MEET IN SOFIA ON JUNE 8-9[24] FOREIGN EXCHANGE RATE REPORTNEWS IN DETAIL[A] NATIONAL NEWS[01] 20TH GENERAL ASSEMBLY OF EUROPEAN MAYORS BEGINS IN THESSALONIKITwo thousand European local and regional elected representatives will participate at the three-day 20th General Conference of the European Municipalities and Regions, which will be formally inaugurated this evening by European Commission President Jacques Santer. The government will be represented by Minister of Interior, Public Administration and Decentralization Akis Tsohatzopoulos, while New Democracy leader Miltiades Evert will deliver a speech. Main speaker in the formal opening ceremony will be Council of European Municipalities and Regions International President Pasqual Maragall, while Thessaloniki Mayor Konstantinos Kosmopoulos and Athens Mayor Dimitris Avramopoulos will also address the Conference. Mr. Santer is expected to arrive in Thessaloniki this afternoon, thereby making his first formal visit to Greece. He will speak on the situation in the EU and the challenges facing the local and regional authorities in the ICG. Ways of facing the issue of unemployment, as well as issues of environmental concern will be at the center of discussions held during the Conference. Also discussed will be the European local government's input at the Inter-Governmental Conference (ICG) -in Turin, Italy- since it is considered necessary that the future accords include the citizens' right to have access to information regarding the European Union's policies and initiatives. The ICG will decide on the future of the EU within the framework of the Maastricht Treaty revision. The European representatives will discuss the principles of reinforcement, as well as the bases of a multi-level cooperation, where the local and regional authorities will have the task of executing the european policies. This procedure will grant the opportunity to improve the quality of decision-making in the EU and will strengthen the validity of such decisions. This will be the largest gathering of elected representatives of the local and regional authorities in the European Union. The Council of European Municipalities and Regions is the european section of the International Union of Local Authorities (IULA) and was established in 1951. Today, it numbers over 100,000 local and regional authorities, federated together in 38 large National Associations in 25 European countries. The General Conference traditionally closes with the adoption of a proclamation which will be transferred to the european bodies and mass media. This proclamation presents the positions of the elected local and regional representatives regarding the conditions of the european structure and the roles of the local and regional self-government. Greece will participate with 154 delegates, Germany with 164, France with 82, Britain with 45, Switzerland with 10, Sweden with 27, Spain with 29, Italy with 150, Portugal with 110, Norway with six, Holland with 10, Luxemburg with 32, Finland with 23, Denmark with ten, Belgium with 26 and Austria with 45, while hundreds of large city mayors and representatives of local administration will also be able to participate in the conference through the Council of European Municipalities and Regions. also participating in the conference will be countries outside the European Union, such as Cyprus with three mayors, the Czech Republic with four, Israel with one, Saudi Arabia with two, Poland with 13 and FYROM with one. [02] JACQUES SANTER: EUROPE CAN DEVELOP THROUGH THE MUNICIPALITIES AND REGIONSEuropean Commission President Jacques Santer stated upon his arrival at Thessaloniki's Macedonia Airport today, that he is very glad to be in Thessaloniki adding that the 20th General Assembly of European Municipalities and Regions held in the city is very important, because if Europe wants to develop, this must happen only through the Municipalities and Regions. Responding to a question by a reporter, mr.Santer said the EU is aware of the problems Greece is facing, adding that Greece is a full member of the European Union and therefore enjoys the solidarity of its partners. Minister of Interior, Public Administration and Decentralization mr.Akis Tsohatzopoulos welcomed mr.Santer stating that his participation in the meeting of European representatives of local and regional administration is of great importance to the development of the European Union. Mr.Tsohatzopoulos stated that the meeting is very important for the development of the European Union and shows that the local communities can play an essential role in the course toward the European integration. He also said that mr.Santer's participation in the meeting, today and tomorrow, will mark the begining of the upgraded intervention of local administration to the european development. The Minister of Interior, Public Administration and Decentralization also stressed that the representatives of local administration will present during their meeting in Thessaloniki their own proposals for changes in the Maastricht Treaty in order to be able to play an essential role in the developments taking place in Europe. European Commission President mr.Santer addressing the 20th General Assembly of European Municipalities and Regions stated that "the Europe we want, is a Europe for all", adding that Europe is active again even though questions are being raised over its inadequate participation and presence in the international scene and doubts are being expressed over its ability to counter the plague of unemployment. He said that the questions raised are legitimate and essential but they should not be allowed to cause defeatism. Mr.Santer stated that the Council of European Municipalities and Regions declared its dedication to the strengthening of the principle of subsidiarity and also expressed the wish for an active partnership between the union of member states and all the local authorities. Also, said mr.Santer, the Council of European Municipalities and Regions called for greater transparency and better access to community information, adding that he shares those requests to a great degree. He added that the EU's strategy for the future acquires a meaning only if the problem of unemployment is handled in a dynamic way, stressing that the European Commission can not replace neither the local factors nor the governments. [03] MINISTER OF INTERIOR ADDRESSES 20TH GENERAL ASSEMBLY IN THESSALONIKI"Europe and its people are expecting from the Inter-Governmental Conference to provide a political and institutional way out from what appears to be Europe's deadlocks," stated the Minister of Interior, Public Administration and De-centralization Akis Tsohatzopoulos, addressing the 20th General Assembly of Europe's Regional and Local Representatives, which began today in Thessaloniki. "It comes as a surprise to no one that the EU's democratic rejuvenation is one of the most significant issues we are faced with," Mr. Tsohatzopoulos said. "The european people have began to feel at arm's length from the EU decision-making centers. The Regional Committee is an institutional response and is based on the evident realization that the EU cannot be complete without the input of the regional administrations and the local government organizations. "These administrative bodies maintain a direct and daily contact with the citizens. Therefore, only through the Regional Committee can this two-fold aim be achieved, that is for the EU to approach its citizens and to upgrade their participation in the unionizing process." The Minister of Interior also proposed that Article 198 of the Maastricht Treaty be amended so that the appointment of the Regional Committee members be made only by those who hold elected seats. He granted particular attention to the issue of consolidating the local and regional governments' economic independence and to the issue of subsidiarity. "I believe that there must be a balance between the principle of subsidiarity and the principle of social and economic cohesion, aiming at enabling the further development of the EU into a body of unified regulations. "Subsidiarity is a factor of flexibility and productivity in the European Union and not a pretense to reverse the results of decades- long efforts," Mr. Tsohatzopoulos stated. Regarding the Inter-Governmental Conference of '96, the Minister of Interior stated that it does not mark a tightening of the EU, but, rather the beginning of a larger expansion. [04] EUROPE'S NEW "CONSTITUTION" MUST GIVE WEIGHT TO LOCAL GOVERNMENT"The European Regions and Municipalities want the European Union's new "constitution to be more sensitive towards the power of the Regions and Local governments. These administrative bodies represent the citizens and we are certain that if they do not bring forth this wish, and conversely, do not bring the laws and regulations of the European Union to the citizens, then Europe cannot and will not be understood." This was stated by the President of the Council of Regions and Municipalities of Europe, Barcelona Mayor Pasqual Maragall, commenting on the 20th General Assembly of the Council that is being held today in Thessaloniki. Mr. Maragall granted significant attention to the upcoming Assebly of Mayors from cities-members of the United Nations, to be held in Constantinople. "Two years ago we convinced Boutros Boutros Ghali that the United Nations cannot talk about the cities, when the cities themselves have no voice," Mr. Maragall stated. [05] AUTHORIZED DIPLOMATS FROM GREECE AND TURKEY WILL MEET ON MAY 28THAuthorized diplomats from Greece and Turkey will meet on May 28th in order to prepare the meeting between the greek and the turkish Foreign Ministers which will be held on the sidelines of NATO's Foreign Ministers' Summit in Berlin on June 2nd. The above was announced by greek government spokesman Dimitris Reppas, who clarified that the commissioned diplomats will prepare the meeting between the two Foreign Ministers and will hold no dialogue. The greek government spokesman stated that there is no agenda and there will be no negotiation on an agenda concerning the issues that will be discussed. Mr.Reppas stated that each side will simply present its views on the issues it will raise. Mr.Reppas called to comment on the statements made by turkish Foreign Minister mr.Gonensay in the United States, mentioned that it was a repetition of known statements by turkish officials which he attributed partly to the political fluidity in the neighbouring country adding that possibly that situation affects the turkish foreign policy. The greek government spokesman stated that Greece is categorically opposed to the statements made by the turkish Foreign Minister and believes that statements of this kind aggravate the climate in the greek-turkish relations. [06] THE GREEK PRIME MINISTER MET WITH HIS SERB COUNTERPART IN ATHENSGreek Prime Minister Kostas Simitis met in Athens today with his serb counterpart Mirko Marianovic. In statements after the meeting, mr.Simitis characterized the relations between the two countries as very good and added that with mr.Marianovic discussed political issues and also issues of economic cooperation. Mr.Simitis stated that it was agreed that the Balkans should become a region of peace, friendship and cooperation. The serb Prime Minister stressed that his country will make every effort for the further upgrading of the relations with Greece, while he added that Greece and Serbia have traditionally good relations. [07] TURK AND GREEK DIPLOMATS TO PAVE THE GROUND FOR FOREIGN MINISTERS MEETINGGreek and Turk diplomats will meet on May 28, in order to set the ground for the upcoming meeting of the two countries' foreign ministers, within the parameters of the NATO Foreign Ministers Summit, scheduled to be held on June 2 in Berlin. According to Minister of Press and Media Dimitris Reppas, who clarified that the meeting will not include dialogue, the meeting is a preparation of the Foreign Ministers' meeting. There is no agenda for this meeting, Mr. Reppas stated, and there will be no negotiations held for the issues that will be discussed. The government spokesperson emphasized that each side will develop its points of view on the issues it will present. [08] "THRACE" TRADE EXHIBIT TO GROW INTO INTERNATIONAL DEVELOPMENT BASEThe trade exhibit "Thrace '96", to be inaugurated this evening in Komotene, has set targets to grow into a development base for the further development of Greek and foreign businesses in the geographical region of the Balkans, Eastern Europe and the Black Sea, thereby paving the way for international status. Commissioned consultant N. Pinakides, from the International Fair of Thessaloniki- Helexpo, stated that "Thrace '96" has already produced satisfactory development records, pointing out that more than 100 exhibitors from throughout Greece, as well as Germany, Italy, Japan, Britain, Belgium, Switzerland and the US, are participating. "We believe that there is still room for further participation of local businesses and industry sectors. We are sure that the productivity and significance of "Thrace 96" will be a decisive factor for their participation," Mr. Pinakides stated. The Ministry of Macedonia-Thrace Secretary-General Chrysa Manolia addressed the exhibit's opening ceremony and stated that Thrace, once developed, will play a significant part in the country's development. "Thrace is Greece's gate to the Balkans and Eastern Europe and its role in the shaping of economic activity is especially significant. An economic inter-state is developing beyond our borders with pronounced potential which we are called to exploit," Ms. Manolia stated. [09] THE VISA ISSUING SYSTEM AT THE GREEK-SKOPJAN BORDERS BECOMES COMPUTERIZEDIn the next few days the visa issuing system at the greek- skopjan borders will be simplified by becoming computerized. The documents needed for the issuing of visas will no longer be filled in by hand but they will be printed out by a computer. It should be noted that the Skopjan state television commented on the change of the procedure by mentioning that it was the result of the increasing traffic at the greek-skopjan borders due to the start of the Summer season. [10] TOURIST COOPERATION BETWEEN GREECE AND THE CZECH REPUBLICGreece and the Czech Republic show an increased interest in the development of their cooperation in the sector of tourism, according to Greek Tourist Organization (EOT) President Yiannis Stephanidis, who made this statement speaking to a group of 20 czech journalists visiting Greece. Mr.Stephanidis stated that a bilateral cooperation agreement should be signed leading to the opening of the tourist market for both countries. Responding to journalists' questions, mr.Stephanidis assured them that the greek laws for the protection of the environment are among the most strict in the world. [11] TOURIST COOPERATION BETWEEN GREECE AND THE ARAB COUNTRIESThe relations between Greece and the arab countries can be further improved, as it was established during the "Arabian Travel Market" Exhibition held in Dubai in the United Arab Emirates in which participated and the Greek Tourist Organization. Greek officials in contacts they had with tourist agents from the Middle East discussed the potential for the increase of the number of arab tourists visiting Greece. During the talks it was stressed that the new Athens-Dubai flight which will be inaugurated on June 1st by the Emirates Airlines will have a positive effect toward this direction. [12] TWO-DAY CONFERENCE ON FOREIGN POLICY AND THE ROLE OF MASS MEDIA WILL BE HELD IN ATHENSForeign policy and the role of the mass media in the forming of public opinion is the topic of a two-day conference that will be held in Athens on May 26-27. The main speakers in the conference will be, among others, greek Foreign Minister Theodoros Pangalos and former US Assistant Secretary of State Richard Holbrooke, while former turkish Foreign Minister Hikmet Tsetin and many greek and turkish journalists will also address the conference. [13] YIANNIS IOANNIDIS IS NO LONGER THE COACH OF OLYMPIAKOS BASKETBALL TEAMAfter five years as the coach of Olympiakos basketball team, Yiannis Ioannidis resigned from the post. Under the coaching of Ioannidis, Olympiakos became one of the greatest basketball teams winning the championships for four years in a row, while it also won the second place in two Final Fours. In a press conference he gave today, mr.Ioannidis stated that he handed in his resignation on May 2nd and yesterday it was accepted by President of Olympiakos, mr.Kokkalis. Relations between mr.Ioannidis and mr.Kokkalis became strained on March 13th, 1996 after the second game with Real Madrid, when Olympiakos was eliminated from the European Championship semi-finals. As it was made known, mr.Ioannidis had stated then that a journalist and close associate of mr.Kokkalis was bringing bad luck to the team. As a result mr.Kokkalis became very upset and had absolutely no contact with mr.Ioannidis ever since. [B] INTERNATIONAL NEWS[14] MEMORANDUM ON THE EU ISLAND REGIONS WAS SUBMITTED BY GREECE TO THE INTER-GOVERNMENTAL CONFERENCE MEETING HELD TODAYGreek Euro-Deputy Yiannos Kranidiotis, on behalf of the greek government, submitted a memorandum on the EU island regions. The memorandum was submitted within the framework of the discussion concerning the new European Union policies during the Inter- Governmental Conference meeting held today in Brussels and stresses the peculiarities of the islands which often have negative effects on the development and the operation of their economies. In the memorandum is also mentioned that the marginalizing of the islands can stop if the appropriate measures are taken based on the principles of the equal treatment of all EU regions, the full exploitation of the european space, and the safeguarding and preservation of the EU's natural and cultural diversity. Finally, the greek memorandum suggests that article 130 of the Maastricht Treaty should be amended in order to include the islands. Article 130 provides for the safeguarding by the EU of the necessary pre-conditions for the fair competitiveness of the EU Industry. [15] EUROPEAN COMMISSION TO ADOPT PROPOSAL ON FETA CHEESEThe European Commission has decided to adopt a proposal through which feta cheese sold in the European Union must be made in Greece, after EU Agriculture Ministers failed to reach a decision on Monday, according to a Commission spokesperson. Since there was neither a qualified majority in favor of the proposal, nor one against it, the Commission could proceed to a decision by itself three months after delivering the proposal to the Council of Ministers. The proposal is set to go into effect on June 15. Voting against the proposal were Denmark and six other feta- producing countries, Finland, Sweden, Germany, Austria, Belgium and France. Britain abstained and the remaining seven EU members voted in favor of the Commission's proposal. Feta cheese is one of the 318 regional food products which the Commission wants to protect against products from other regions carrying the same name. During Monday's meeting, the Agriculture Ministers' Council examined the European Commission's announcement, according to which the greek feta cheese that is produced by goat and sheep milk is a product- name that is protected in the EU member countries. [16] CYPRUS WILL NOT BECOME EU MEMBER BEFORE CYPRIOT ISSUE IS RESOLVED, SAYS GONENSAYCyprus will not become a member of the European Union, before the cypriot issue is resolved, stated the Turk Foreign Minister Emre Gonensay, during a press conference in Washington. According to Gonensay, the cypriot issue was brought up during his discussion with United States Secretary of State Warren Christopher. Mr. Gonensay told his US counterpart that Turkey will welcome a United States intitiative, one that will be within the framework of the United Nations Secretary-General's proposals package. As Mr. Gonensay stressed, the turk-cypriot side favors negotiations within the framework of a two-zones, two-communities federation based on equal political rights. When asked about Turkey's position regarding Cyprus' accession to the European Union, Mr. Gonensay stated that there is no change between Turkey's position and those of the US and EU member- countries. This means that if there is no solution reached on the cypriot issue, based on a two-zone, two-commnunity federation with equal political rights and with the turkish community's agreement, Cyprus will become a full member of the EU. According to Mr. Gonensay, this is understood by all sides, including the United States. [17] WORLD COORDINATING COMMITTEE ON THE CYPRIOT STRUGGLE BEGINS WASHINGTON SESSIONThe annual conference on the World Coordinating Committee on the Cypriot Struggle began yesterday in Washington. Honored guests at a formal reception, given at the Cypriot embassy, were the Greek-American Congressman Mike Bilirakis (Rep) and the New York Congresswoman Carolyn Maloney (Dem), who were recognized for their effforts in promoting the greek positions in Congress. The two congresspersons stated that they wil continue their struggle for securing a peaceful and fair solution to the cypriot issue. Today, the Committee members will visit Capitol Hill where they will meet with members of the Senate. Later, they will attend a White House briefing by the director of the National Security Council on European Issues, Alexander Vershbow, the State Department's special coordinator for the cypriot issue James Williams, and the director of the Southern European office Kerry Kavano. [18] DENKTASH REJECTS TALK FOR ESTABLISHING MULTI-NATIONAL FORCES ON CYPRUSRauf Dentktash has rejected the idea of establishing multi- national forces in Cyprus in the case of an agreement, and characterized such proposal as "unacceptable." Upon his return from Ankara, Mr. Denktash claimed that this idea was presented purposefully by the greek-cypriot side, because- as he said- when these forces arrive on the island, the Turk and Greek soldiers will be able to participate, but Ankara will lose the right to maintain forces, based on the Zurich Accords. The turk-cypriot leader stated that the proposal of establishing a multi-national force on Cyprus is contrary to the Ghali proposals and reiterated his opposition to Cyprus' accession to the European Union. [19] US HOUSE OF REPS TO DISCUSS REDUCTION OF ECONOMIC AID TO TURKEY, OR EVEN COMPLETE WITHDRAWAL OF FUNDSThe United States House of Representatives' Sub-committee on Allocation of Funds will address tonight the possibility of reducing, or perhaps even completely withdrawing US economic aid to Turkey for the upcoming year. Illinois Senator John Porter (Rep) will submit his amendment asking for the withdrawal of funding to Ankara. Mr. Porter had submitted a similar proposal to the Senate last year, which resulted in a $25 million reduction of economic aid to Turkey. [20] MILOSEVIC MET WITH VICE-PRESIDENT OF THE REPUBLICA SRPSKASerbian President Slobodan Milosevic was informed yesterday by the Vice-President of the Serb Republic Biljana Plavsic and by the Deputy President Nikola Koljevic about the most recent and important political development in that country, local media reported. During the meeting it was underlined that all the activities are focusing on the full implementation of the peace agreement and, in that respect, the forthcoming elections are very important, a prerequisite for the building of democratic institutions. To this effect, it is necessary that a complete cooperation with the OSCE mission be in charge with preparations of the elections. Securing the people's free circulation and setting up in due time the electoral commission in all counties of the Serb Republic were also considered key issues. Concerning Karadzic's withdrawal, the same day in Pale, UN special envoy in former Yugoslavia Carl Bildt and commander of IFOR ground troops Lt. Gen. Michael Walker failed to receive a commitment from Bosnianserb leadership that Radovan Karadzic would resign. Mr. Bildt said he will ask help from Milosevic in order to arrest Radovan Karadzic and General Ratko Mladic, both of whom have been indicted on war crimes. Yugoslav daily "Nasa Borba" comments today that if Bildt reports to the UN Contact Group that President Milosevic has failed to support the implementation of the peace agreement, sanctions against FR Yugoslavia could be resumed. President Slobodan Milosevic is under international community pressure to mediate removal of the Bosnianserb hard-line Radovan Karadzic, considered the biggest threat for the Dayton peace agreement. [21] DEMILITARIZATION IN EASTERN SLAVONIA BEGANDemilitarization of the Srem-Baranja region - Serb-held Eastern Slavonia - officially began yesterday, following the full deployment of the 5,000 multinational UN peacekeeping force (UNTAES), local and international media reported. UN administrator of the region Jacques Klein said that the same day UN Secretary- General Boutros Boutros Ghali informed the Security Council on that action. Also, telephone lines between Eastern Slavonia and other parts of Croatia have been partly restored after a five-year break. UN administrator Jacques Klein, praising both sides for their contribution to this achievement, said yesterday's event is a step towards people's pacification, which is the main goal of the UN. Serbian leader of the Eastern Slavonia region Goran Hadjic pointed out that the restorations of the telephones lines is in concordance with Erdut Agreement and promised that Serbian side will join every other activities due to normalize the situation in that region. [22] ROMANIAN NATIONAL BANK GET BB RATINGThe Japanese branch of the American company "Standard & Poor's", specializing in credit-rating, announced that the bond investment made by Romanian National Bank (BNR) on the Tokyo money market received BB mark. BNR issued bonds worth 52 billion yeni, $500 million equivalent, at a fixed annual rate of 5.2%. The BNR Governor Mugur Isarescu said his plan to issue bonds on the Tokyo money market was successful, as he arrived from Japan with $495 million in credits. In one day, the BNR managed to almost double its hard currency reserves, which now stand at over $1 billion. "The value of the bonds issued is greater than we ever could have hoped," said Eugen Dijmarescu, Romanian Ambassador to Japan. International observers said none of this would have been possible without the backing of the world's largest brokerage firm, the Tokyo-based "Nomura Securities". Romanian sources consider that the BB mark reflects Romania's low external debt, approximately 35% of the export value, as well as the existence of a certain structural reforms, even if they are taking place at a slow pace. The National Bank is also working with US brokers Merril Lynch to issue between $100 million and $200 million in Eurobonds. These should hit European money markets by the end of July. [23] BALKAN FOREIGN MINISTERS MEET IN SOFIA ON JUNE 8-9The Conference of South-Eastern European Foreign Ministers will take place in Sofia on June 8 and 9, Bulgarian Foreign Ministry spokesman Pantaiel Karasimeonov announced. Greece, Romania, RF Yugoslavia, Bosnia-Herzegovina, FYROM, Bulgaria and Croatia - which will attend the session as observer- have confirmed their participation. FYROM's media noted that Strahil Chervenkov, head of the South and East Europe Department of the Bulgarian Foreign Ministry, said that due to the international character of the conference, which will be attended by countries that had not recognized FYROM, the UN Resolution would be used regarding the name of the coutry. Albania has not yet confirmed its participation, and Turkey has suggested different dates, June 24 and 25. The improvement of the region's security, transport and telecommunications links and cooperation in fighting drug trafficking, as well as the contribution of countries in the implementation of the Dayton Agreement are subject to be discussed. [24] FOREIGN EXCHANGE RATE REPORTFIXING BUY SELL ECU 298.4520 297.5570 299.3470 U.S. Dollar 243.6350 242.9040 244.3660 Deutsche Mark 158.1300 157.6560 158.6040 UK Sterling 368.3400 367.2350 369.4450 French Franc 46.7300 46.5900 46.8700 Swedish Crown 35.8370 35.7290 35.9450 Danish Kroner 40.9660 40.8430 41.0890 Norwegian Crown 36.9040 36.7930 37.0150 Italian Lira 15.6285 15.5820 15.6750 Swiss Franc 192.1140 191.5380 192.6900 Spanish Peseta 1.9026 1.8969 1.9083 Finnish Mark 51.3600 51.2060 51.5140 Yen 227.9300 227.2460 228.6140 Complete archives of the Macedonian Press Agency bulletins are available on the MPA Home Page at http://www.mpa.gr/ and on the U.S. mirror at http://www.hri.org/MPA/ |