Read the Joint Statement of the Heads of State & Government of Southeastern European Nations (Crete, 4 November 1997) Read the Convention Relating to the Regime of the Straits (24 July 1923) Read the Convention Relating to the Regime of the Straits (24 July 1923)
HR-Net - Hellenic Resources Network Compact version
Today's Suggestion
Read The "Macedonian Question" (by Maria Nystazopoulou-Pelekidou)
HomeAbout HR-NetNewsWeb SitesDocumentsOnline HelpUsage InformationContact us
Wednesday, 18 December 2024
 
News
  Latest News (All)
     From Greece
     From Cyprus
     From Europe
     From Balkans
     From Turkey
     From USA
  Announcements
  World Press
  News Archives
Web Sites
  Hosted
  Mirrored
  Interesting Nodes
Documents
  Special Topics
  Treaties, Conventions
  Constitutions
  U.S. Agencies
  Cyprus Problem
  Other
Services
  Personal NewsPaper
  Greek Fonts
  Tools
  F.A.Q.
 

A.N.A. Bulletin, 08/03/96

From: "Greek Press & Information Office, Ottawa Canada" <grnewsca@sympatico.ca>

Athens News Agency Directory

ATHENS NEWS AGENCY BULLETIN (No 832), March 8, 1996

Greek Press & Information Office

Ottawa, Canada

E-Mail Address: grnewsca@sympatico.ca


CONTENTS

  • [1] Greece celebrates anniversary of union of Dodecanese islands

  • [2] Stephanopoulos

  • [3] Special Parliament debate to mark International Women's Day

  • [4] Government voices support for Pangalos statements

  • [5] Yilmaz hopes for 'friendly relations with Greece'

  • [6] Future of FYROM name talks to be discussed at Simitis-Pangalos-Stephanopoulos meeting today

  • [7] Coalition

  • [8] Foreign ministry budget to be increased 50 per cent, new embassies decided for Belarus, Slovakia, Bosnia

  • [9] Swedish foreign minister scheduled for talks with Pangalos today

  • [10] Pangalos establishes international relations council at ministry

  • [11] Reppas welcomes US State Dept. report on Greece's human rights record

  • [12] Pangalos to confer with EU colleagues this weekend

  • [13] Farmers' protests to climax today

  • [14] Rioting Patras prisoners continue to hold out

  • [15] Evert will see Simitis on his return from overseas trip, ND statement says

  • [16] ND deputy hospitalized after attack at Thessaloniki university

  • [17] Greece ratifies Council of Europe anti-doping convention

  • [18] Papandreou tracheotomy closure delayed

  • [19] Boutros-Ghali promises work on women's rights this year

  • [20] PASOK women mark achievements in equality to date

  • [21] US senators petition Clinton to mark Greek Independence Day

  • [22] OTE prospectus to share float approved

  • [23] State to auction 300 billion drachmas of state bonds Monday

  • [24] ASE calls for ideas on streamlining capital market

  • [25] New committee announced to monitor public procurements

  • [26] Greece on verge of real recovery in industry, KEPE report says


  • [1] Greece celebrates anniversary of union of Dodecanese islands

    Athens, 08/03/1996 (ANA)

    Prime Minister Costas Simitis yesterday appealed for a "new form of patriotism", calling on Greeks to join efforts to modernize and reform the Greek state in the course towards a "Greece that is powerful, modernized, proud and equal to the rest of Europe, with a powerful role to play in the Balkans".

    He made the appeal from the border island of Kos during events to commemorate the 49th anniversary since the incorporation of the Dodecanese islands into Greece.

    Referring to recent Turkish provocations in the area, he accused Ankara of "questioning our sovereign rights and escalating our territorial claims" instead of pursuing peace and co-operation.

    "Turkey should realize that it is trying in vain, because our country neither claims or surrenders anything," he said.

    "History, the Greek blood spilt in the Aegean, as well as powerful international agreements, fully consolidate Greece's sovereign rights."

    The prime minister said he was convinced that Greece's just positions would be endorsed by the European Union, NATO and the United States within the framework of the international legality, and their foreign policy planning.

    On Kalymnos earlier, Mr. Simitis stressed the government's determination to fight for Greece's national interests on the basis on international law in tandem with a strong deterrent force.

    Our main weapon against Turkish designs is international law, he said.

    But, he added, a strong deterrent force is necessary at the same time so as to make anyone who "dares to take any steps against our national sovereignty feel very sorry".

    The prime minister said a special inner cabinet meeting will present its proposals on problems faced by the Aegean islands in the coming weeks.

    He took the opportunity to announce the construction of a new hospital, the completion of the airport, the marina and other port works on the island of Kos and promised to support the "medical Olympiad", to be held in August on Kos, the birthplace of Hippocrates.

    Kos Mayor Constantine Kaiserlis bestowed the Hippocrates gold medal on Mr. Simitis.

    Greeting Mr. Simitis, Kalymnos Mayor Dimitris Diakomichalis addressed a message to "friend and foes", saying "the heart of Greece beats on Imia, on Kalymnos and in the Dodecanese".

    The prime minister was accompanied by Minister for the Aegean Antonis Kotsakas, PASOK Secretary Costas Skandalidis, and deputies Dimitris Vounatsos and Christos Kipouros (PASOK) and Aristotelis Pavlidis (New Democracy).

    [2] Stephanopoulos

    Athens, 08/03/1996 (ANA)

    President Kostis Stephanopoulos yesterday said Greece should assume an initiative for the referral of the issue of the rocky Aegean islet of Imia to the International Court at the Hague.

    "Perhaps instead of seeking from Turkey which violates the law... to undertake an initiative which is not in its interests, we should state internationally that we are prepared to go (to the Hague) if Turkey agrees," Mr. Stephanopoulos said at a luncheon given in his honor on Rhodes.

    Mr. Stephanopoulos expressed the view that Turkey did not want to refer the Imia issue to the Hague "because it is afraid of justice."

    By referring the issue to the International Court, the president said, "we would not be placing our sovereign rights before the judgment of anyone. We would be presenting our rights before justice and asking for recognition that we are in the right, something which is self-evident."

    Mr. Stephanopoulos said he was against dialogue between Athens and Ankara, underlining that "we cannot accept dialogue which they propose to us without legal criteria, without principles... (for) it is doomed to failure."

    He sharply criticized Ankara's stance, saying "they forget that no one can violate international treaties which have firmly established the inalterability of sacred borders, and go unpunished."

    National Defense Minister Gerassimos Arsenis, who was accompanying Mr. Stephanopoulos, said Greece would defend its sovereign rights and would not make any concessions.

    "We are ready to defend our national rights, we do not claim anything and we are not willing to surrender anything," Mr. Arsenis said.

    Communist Party of Greece (KKE) Secretary-General Aleka Papariga, who was also in Rhodes for the celebrations, expressed the KKE's opposition to a possible referral of the Imia issue to the International Court, saying that "the borders are not an issue of legal negotiation, but of permanent consolidation."

    Ms Papariga held Germany and the United States responsible for Turkey's disputing of Greece's sovereign rights.

    The celebrations to mark the anniversary of the incorporation of the Dodecanese islands into Greece climaxed yesterday with a parade in the central avenue in Rhodes.

    War veterans, pupils and sections of the army and navy participated in the parade while military aircraft flew over the town.

    The celebrations in Rhodes were attended by President Stephanopoulos, Mr. Arsenis, Mr. Kotsakas, Merchant Marine Minister Kosmas Sfiriou and Ms Papariga, as well as by deputies from all the political parties.

    In celebrations which took place on the island of Karpathos, the government was represented by Public Order Minister Costas Geitonas. The ministers could not visit the other islands in the Dodecanese as helicopter flights were impossible due to the bad weather.

    The Turkish Consul in Rhodes Attila Nuali did not attend the celebrations as he had left for Ankara a few days earlier.

    [3] Special Parliament debate to mark International Women's Day

    Athens, 08/03/1996 (ANA)

    A special debate will be held in Parliament today on the occasion of International Women's Day.

    The debate was decided by Parliament President Apostolos Kaklamanis.

    [4] Government voices support for Pangalos statements

    Athens, 08/03/1996 (ANA)

    The government said yesterday that Foreign Minister Theodoros Pangalos' interview with a Turkish television channel had highlighted Greece's arguments concerning its sovereignty of the Aegean islet of Imia as well as Athens' more general positions regarding Turkish aggressiveness.

    Foreign ministry spokesman Costas Bikas made the statement when asked whether a reported reference by Mr. Pangalos in the interview to the disarmament of Greek islands in the Aegean constituted a new position of the government.

    "The de-escalation of armaments is a firm position of Greece," Mr. Bikas continued.

    In the interview, to be broadcast next week, Mr. Pangalos is reported to have said that if Turkey repositioned its Fourth Army Corps deployed on its Aegean coast, Greece could demilitarize the islands.

    "The foreign minister made a statement which illustrated the aggressive nature of the Turkish Fourth Army Corps and had in mind the reduction of tension in the region and particularly under the present conditions of tension in Greek-Turkish relations," Mr. Bikas said.

    The spokesman said that Greece maintained and was developing excellent relations with all its neighbors "and the sole reason for increased defense preparedness is Turkey's provocativeness and aggressiveness."

    He added that even the Turkish journalist to whom the interview was given - Mehmet Ali Birant - acknowledged that Greece's arguments were convincing while those of Ankara were not.

    Government spokesman Dimitris Reppas said later that Mr. Pangalos had not spoken of the demilitarization of the islands and reiterated Greece's firm position concerning the need to improve relations between Athens and Ankara.

    The spokesman said that statements by Mr. Pangalos projected Greek positions and deprived Turkey of the ability "to create an alibi."

    At the same time, he added, they help the international community understand "what Turkey is really after."

    Mr. Reppas reiterated that Greece rejected the idea of political dialogue with Turkey on a bilateral basis.

    "There can be dialogue on the issue of the (Aegean) continental shelf, with an agreement to refer the issue to the International Court at the Hague," Mr. Reppas said.

    The spokesman added that Turkey could also have unilateral recourse to the International Court over the issue of the Aegean islet of Imia.

    "From there on, there can be dialogue on trade, the economy, tourism, illegal immigration, narcotics etc.," Mr. Reppas said.

    Asked whether Greece intended to demilitarize the Aegean islands, the spokesman replied that Athens was obliged to enhance its defense capability "when the other side is displaying aggression."

    He clarified that the reduction of armaments and tension was a firm position of Greece but stressed that "the first step must be taken by the side which creates the escalation and tension."

    Meanwhile, asked to comment on Mr. Pangalos' interview, National Defense Minister Gerassimos Arsenis said on Rhodes that "Greece's fixed position is well known and unchanged - the defense of the country is not negotiable."

    "I do not want to comment on Mr. Pangalos' statements because they may have been misconstrued, since we do not have the full text," Mr. Arsenis added.

    Political Spring party leader Antonis Samaras yesterday attacked the government, with the exception of Mr. Arsenis, for "half-hearte-dly" supporting Mr. Pangalos' statements to the Turkish television channel.

    He said the foreign minister's statements were outrageous and nationally dangerous.

    Referring to the same issue, New Democracy party vice-president Ioannis Varvitsiotis said the unacceptable cover offered to the foreign minister irreparably exposed the prime minister himself.

    He accused Mr. Pangalos of speaking on a major national issue to the Turkish people in an irresponsible manner, proving how dangerous he continued to be for the country's interests.

    [5] Yilmaz hopes for 'friendly relations with Greece'

    Istanbul, 08/03/1996 (ANA)

    New Turkish Prime Minister Mesut Yilmaz said that his country "wishes to have friendly relations with Greece" yesterday during the reading of the new government's program in the Turkish National Assembly.

    Referring to foreign policy, Mr. Yilmaz said that "the latest crisis in the Aegean revealed once again the dangers born by there not being a solution to differences between the two countries."

    Mr. Yilmaz stated that a solution could be found principally through talks between the two sides. "With this perception we wish to solve all our problems with Greece through direct dialogue and talks," he added.

    Speaking on the Cyprus problem, Mr. Yilmaz said that "we support the United Nations' schedule for talks for a solution to the problem through direct discussions between the two communities, ensuring a bizonal and bi-communal federation."

    [6] Future of FYROM name talks to be discussed at Simitis-Pangalos-Stephanopoulos meeting today

    Athens, 08/03/1996 (ANA)

    President Kostis Stephanopoulos, Prime Minister Costas Simitis and Foreign Minister Theodoros Pangalos will meet today to discuss the entire range of national issues, government spokesman Dimitris Reppas said yesterday.

    Informed sources said that the main focus of today's meeting will be the issue of the Former Yugoslav Republic of Macedonia (FYROM). Mr. Reppas said that negotiations on the name of the neighboring state had reached a point "when decisions have t o be made as to whether the talks should continue or be interrupted."

    Before any decision is made whether to continue or interrupt the negotiations, the spokesman added, there will be dialogue with the other political parties in order to shape Greece's position.

    Mr. Reppas said that the government aimed to secure unanimity on the FYROM name issue.

    Meanwhile, the foreign ministry spokesman said yesterday Greece would bring its known positions to the UN-brokered negotiations with the Former Yugoslav Republic of Macedonia.

    [7] Coalition

    Athens, 08/03/1996 (ANA)

    Coalition of the Left and Progress leader Nikos Constantopoulos called on the government to undertake initiatives to close the FYROM issue and reiterated his position on the need for a national strategy in foreign policy.

    Speaking in Patras yesterday, Mr. Constantopoulos expressed support for a composite name, stressing the need for a climate of political understanding to be created.

    [8] Foreign ministry budget to be increased 50 per cent, new embassies decided for Belarus, Slovakia, Bosnia

    Athens, 08/03/1996 (ANA)

    Parliament's foreign affairs committee yesterday endorsed an opposition Political Spring party proposal for a 50 per cent increase in the foreign ministry budget as of 1997.

    The announcement was made by foreign ministry spokesman Costas Bikas, who said the ministry's budget constituted 0.48 per cent of the State Budget.

    The committee also endorsed a draft bill for the establishment of Greek embassies in Belarus, Slovakia and Bosnia-Herzegovina.

    It also approved the establishment of Greek consulates general in Russia (St. Petersburg and Novorosisk), Ukraine and Romania.

    The committee also gave its official approval for the establishment of a Greek liaison office in the Former Yugoslav Republic of Macedonia, and the upgrading of Greece's consulate in Sofia to consulate general.

    [9] Swedish foreign minister scheduled for talks with Pangalos today

    Athens, 08/03/1996 (ANA)

    Swedish Foreign Minister Lena Hjelm-Wallen was due to arrive in Athens last night for a two-day working visit, a foreign ministry announcement said yesterday.

    Ms Hjelm-Wallen will have talks with Foreign Minister Theodoros Pangalos at noon today, after which she will give a press conference.

    [10] Pangalos establishes international relations council at ministry

    Athens, 08/03/1996 (ANA)

    A council to give expert opinion on issues related to international relations and international law will be established at the initiative of Foreign Minister Theodoros Pangalos, it was announced yesterday.

    The council, comprising university professors Christos Terzakis, Argyris Katsouros and George Papadimitriou, will operate autonomously.

    [11] Reppas welcomes US State Dept. report on Greece's human rights record

    Athens, 08/03/1996 (ANA)

    Government spokesman Dimitris Reppas said yesterday that Greece rated high amongst the European countries listed in the US State Department's report on human rights.

    "The report is an internal document referring to many countries," Mr. Reppas said, adding that Greece rated high on the list in regards to the smooth operation of institutions, civil freedoms, freedom of the press.

    "This is a prestigious rating for Greece," he said.

    [12] Pangalos to confer with EU colleagues this weekend

    Athens, 08/03/1996 (ANA)

    The foreign minister will join his European Union colleagues at an informal council of ministers meeting in Palermo, Italy at the weekend, foreign ministry spokesman Costas Bikas said yesterday.

    He said that the meeting would focus on the inter-governmental and Euro-Mediterranean conferences, relations between the EU and Russia, the situation in former Yugoslavia and developments in the Middle East.

    [13] Farmers' protests to climax today

    Athens, 08/03/1996 (ANA)

    Farmers' protests will climax today, with protest gatherings, rallies and marches planned in the centers of main agricultural regions.

    While these are scheduled to end this evening, their actual continuation will depend on the results of a meeting between farmers' representatives and the leadership of the agriculture ministry.

    Farmers are demanding measures for a reduction in the cost of production, income supports, particularly in 'problematic' regions, for the government to put up a fight in Brussels against EU proposals concerning tobacco, cotton, fresh produce and wine, and for an immediate increase in the quota for cow's milk by 150,000 tones.

    They are also calling for increases in pensions, insurance for all production and investments.

    Farmers' leaders said yesterday that the agricultural economy was nearing zero hour due to the lack of a national strategy, and that today's mobilizations were a last warning to the government to provide effective solutions.

    After Prime Minister Costas Simitis' statement Tuesday that the government would soon adopt measures to meet farmers' demands, and Wednesday's announcement of favorable arrangements for agricultural debts totaling 200 billion drachmas, Agriculture Minister Stephanos Tzoumakas said in statements to ANA yesterday that the government was in the process of carving out a national strategy for the sector.

    He added that measures for a reduction in the cost of production was prohibited by Community law, and that an increase in the milk quota by 125,000 tones would be sought for this year.

    Farmers yesterday blockaded the Thessaloniki-Kavalla national road at Gerakarou bringing traffic to a standstill.

    A large number of farmers also converged on the Nea Malgara tollgate on the Thessaloniki-Athens national road and similar movement was observed in the direction of the fly-over at Thermi on the Halkidiki-Thessaloniki highway.

    There was a low turnout at a protest rally organized at the Volos junction to the Athens-Thessaloniki national road, with only 60 having gathered by noon. The poor turnout was attributed to the differences which have surfaced between the various farmers' unions.

    [14] Rioting Patras prisoners continue to hold out

    Athens, 08/03/1996 (ANA)

    The situation in five prisons around the country taken over by inmates remained unchanged yesterday.

    At the Ayios Stephanos correctional facility in Patras, the first prison taken over by rioting prisoners during the latest flare-up, inmates insisted that they would return to their cells when the justice ministry tabled a legislation on prison reform. The same situation continued at the maximum security Corfu prison.

    Negotiations also proved fruitless between authorities and prisoners at the Komotini prison and the Diavata unit in Thessaloniki. A heavy police presence has encircled both prisons, while authorities believe severe damages have taken place at the Thessaloniki prison.

    [15] Evert will see Simitis on his return from overseas trip, ND statement says

    Athens, 08/03/1996 (ANA)

    Main opposition New Democracy party leader Miltiades Evert has given a negative reply to a request from Prime Minister Costas Simitis for a meeting.

    According to an announcement issued by Mr. Evert's office, Mr. Evert will be visiting Thessaloniki and Paris.

    The meeting was to concentrate mainly on the Skopje issue, in view of Mr. Simitis' visit to the United States on April 9.

    The announcement added that a meeting 25 to 30 days before the prime minister's trip could not have the desirable results, either on the Skopje issue or on other national issues that ought to be discussed between the prime minister and the leader of the opposition.

    The announcement added that after Mr. Evert's return to Athens, an agreement would be reached on a date for the meeting to take place before Mr. Simitis' trip to the United States.

    Political Spring party leader Antonis Samaras, meanwhile, is to meet with the prime minister next Thursday morning, following an invitation by Mr. Simitis.

    [16] ND deputy hospitalized after attack at Thessaloniki university

    Athens, 08/03/1996 (ANA)

    Main opposition New Democracy deputy Panayiotis Kammenos was attacked by a large group of masked club-wielding assailants yesterday at Thessaloniki's Aristotelian University.

    The ND deputy was on his way to speak to a students' organization at the university when he was ambushed by the masked youths at around 1:10pm. A police official later said the group was part of anarchist elements circulating in the school.

    Mr. Kammenos was transported to a local hospital where he was diagnosed with a dislocated shoulder. He later filed a report with police.

    The ND deputy later called the attack a "planned action" by "anti-Greek circles." He also said he recognized some of the suspects from individuals arrested for the Athens Polytechnic's takeover last November.

    Parliament President Apostolos Kaklamanis strongly condemned the attack last night.

    [17] Greece ratifies Council of Europe anti-doping convention

    Athens, 08/03/1996 (ANA)

    Ambassador Antonios Exarchos, Greece's permanent representative to the Council of Europe, Wednesday handed Secretary-General Daniel Tarschys the instrument of ratification to the Anti-Doping Convention, a Council of Europe press release said.

    This convention is the first and only international legal instrument on the subject. Parties to the convention undertake, among other things: - to draw up national anti-doping policies, including testing, education and research programmes, and capacity for laboratory analysis

    - to take measures to restrict the availability of doping substances, in particular anabolic steroids - to co-operate with national sports organizations to promote and finance anti-doping activity - to conduct regular doping controls both in and out of competition, at home and in other countries - to co-operate internationally.

    A list of banned doping agents and methods is appended to the convention and updated periodically.

    The monitoring group set up under the convention works closely with the international sports movement and, through its four specialist working parties, carries on the fight against doping on the scientific, technical, legal and educational fronts.

    The convention will enter into force for Greece on May 1, 1996. It is already in force in Australia, Bulgaria, Cyprus, the Czech Republic, Denmark, Finland, France, Germany, Hungary, Iceland, Italy, The Netherlands, Norway, Poland, Portugal, Russia, San Marino, the Slovak Republic, Slovenia, Spain, Sweden, Switzerland, FYROM, Turkey, the UK, Australia, Bosnia-Herzegovina, and Croatia.

    [19] Papandreou tracheotomy closure delayed

    Athens, 08/03/1996 (ANA)

    A slow improvement of PASOK president and founder Andreas Papandreou's respiratory function is delaying the close of a tracheotomy, which was scheduled for the end of this week.

    According to physicians treating the 77-year-old former premier, Mr. Papandreou will remain at the Onassion Cardiosurgical Hospital until his respiratory function is completely stabilized. In fact, several doctors treating Mr. Papandreou have not agreed with other colleagues on the issue of a fixed date for his exit from the hospital. They have cited dangers associated with Mr. Papandreou's premature discharge from the hospital.

    Yesterday's medical bulletin again stated that the ex-prime minister's health is developing smoothly, while a program of respiratory physical therapy and kinesiotherapy is continuing. Doctors have also asked that he continue walking at the hospital's sixth floor.

    [19] Boutros-Ghali promises work on women's rights this year

    Athens, 08/03/1996 (ANA)

    United Nations Secretary-General Boutros Boutros-Ghali pledged yesterday that 1996 will be a "landmark" for women's rights and that the UN would go ahead with the implementation of decisions taken last year.

    "Women's position in the fifty years of the United Nations' existence has improved considerably," the UN chief said in his message marking International Women's Day today.

    He noted, however, that "the road is still long" and that "progress regarding equality between the sexes is not the same in every society."

    Mr. Boutros-Ghali said that the United Nations offered a unique platform for the promotion of equality between the sexes, pointing in particular to the UN's international women's conference in Beijing last year.

    In Athens, the Coalition of the Left and Progress party issued a series of proposals in view of the report of an inter-party committee on women to be debated today in Parliament.

    [20] PASOK women mark achievements in equality to date

    Athens, 08/03/1996 (ANA)

    The ruling PASOK party's women's section issued an announcement yesterday praising the decision of the political parties' women's groups and women's organizations to promote their demands "for laws to become actions and words to become projects," in a unified manner on the occasion of International Women's Day today.

    In the announcement, the PASOK women's group expressed pride at what has been achieved to date in the sectors of employment, education and legislation, adding that "of course, the PASOK governments have made an important contribution to the progress that has been made."

    The announcement added that there is still much work to be done, as "the change in legislation and the revolution in education was unfortunately not accompanied by revolution in traditional roles, or by a reversal of anachronistic stereotypes, or with t he overcoming of the chronic barring of women from political life."

    The Coalition proposed the establishment of a National Council of Equality, and called on the Greek government to promote endorsement of an article acknowledging the equality of the sexes as a basic human right at the inter-govern-mental conference in Turin at the end of this month.

    [21] US senators petition Clinton to mark Greek Independence Day

    Washington, 08/03/1996 (ANA)

    Fifty-two United States senators yesterday endorsed a resolution inviting President Clinton to sign a proclamation calling upon all Americans to observe Greek Independence Day on March 25 with appropriate programs, ceremonies and activities.

    A relevant statement was issued by President of the World Council of Greeks Abroad Andrew Athens.

    It is the tenth consecutive year that the Senate has adopted such a resolution.

    According to prominent Greek-American Andrew Manatos, the resolution acknowledges that "Greece is one of only three nations in the world, beyond the former British Empire, that has been allied with the US in every major international conflict this century," and that "1996 will mark the historic first official state visit to the US by an elected head of state of Greece".

    [22] OTE prospectus to share float approved

    Athens, 08/03/1996 (ANA)

    The Athens Stock Exchange's administrative council yesterday approved the Hellenic Telecommunications Organization's (OTE) prospectus for an increase in share capital.

    The organization is to issue 24,014,384 new common nominalized shares, of which 4,014,384 will be made available to OTE employees and pensioners, with the remainder available for public subscription.

    Initial shareholders will be given one free share for every ten (up to a total of 100 free shares per shareholder) provided they keep their shares for one-and-a-half years after the beginning of their transaction on the Athens Stock Exchange. The incentive applies to all shareholders.

    [23] State to auction 300 billion drachmas of state bonds Monday

    Athens, 08/03/1996 (ANA)

    An auction of 300 billion drachmas worth of state bonds will take place at the Bank of Greece on Monday, the finance ministry announced yesterday.

    The issue consists of 25 billion drachmas worth of three-year bonds, 25 billion five-year bonds and 250 billion for seven-year bonds. The nominal interest rate was set at the existing state treasury bill interest rate of 13.40 per cent, plus a 0.50 per cent margin for three years, 1 per cent for five years and 1.50 per cent for seven years.

    During the last auction for state bonds held on February 11 bids amounting to 368.5 billion drachmas were accepted, 18.5 billion above targets.

    [24] ASE calls for ideas on streamlining capital market

    Athens, 08/03/1996 (ANA)

    The executive board of the Athens Stock Exchange (ASE) has decided to invite proposals by financial consultants on issues of organization, transactions, and computerization, aiming to improve the transparency, effectiveness, liquidity, and the cost of the capital market.

    After evaluation of the proposals, ASE will ask consultants to develop their proposals and submit them by the end of November this year.

    The three best works will be awarded prizes of five, three and one million drachmas respectively, and may be published at ASE's expense.

    The deadline for submission of proposals expires at the end of March.

    [25] New committee announced to monitor public procurements

    Athens, 08/03/1996 (ANA)

    Transport and Communications Minister Haris Kastanidis yesterday announced the establishment of a five-member committee which will be entrusted with the task of monitoring the procedures of public procurements for utilities.

    The committee will comprise "figures of established scientific authority, and will be approved by the competent parliamentary transport committee by a three-fifths majority, so that it may enjoy the full acceptance of parties".

    Mr. Kastanidis added the committee will be empowered to set up particular groups of experts which will monitor procurements in all phases, so that "principles of legality and healthy competition are observed".

    [26] Greece on verge of real recovery in industry, KEPE report says

    Athens, 08/03/1996 (ANA)

    The Center for Economic Planning and Research (KEPE) unveiled positive forecasts yesterday for the Greek economy and unemployment.

    The report, entitled "Structural Policy Proposals for Industry and Employment," will be used by the national economy ministry in its development of economic policy.

    National Economy Minister Yiannos Papantoniou requested the report last September during a series of shutdowns by several major firms.

    According to the KEPE report, Greece is on the verge of a real recovery in terms of industrial investments, while improvement in Greek companies' international competitiveness is also expected for the first time in several years.

    At another point, the report states that rising productivity and competitiveness will increase unemployment in the next few years, and calls for application by the government of an "employment policy," although KEPE says such an initiative will only blunt the problem. To tackle unemployment the report calls for support of public and private investments.

    KEPE estimates that through commencement of major construction projects funded by the Delors II package, approximately 40,000 direct and indirect jobs will be created within the next five years. An increase in industrial jobs is also directly related to completion of the projects, the report states.

    Another proposal calls for reduction of the minimum investment qualifying under development legislation for subsidization, in order to support small-to-medium-sized businesses, which, the report says, employ more workers than large businesses.

    Finally, KEPE notes that a decrease in the minimum wage and pension fund contributions in certain cases (financially ailing businesses and regions, young employees and unskilled workers) will assist in those groups' better inclusion in the country's work force.

    End of English language section.

    Back to Top
    Copyright © 1995-2023 HR-Net (Hellenic Resources Network). An HRI Project.
    All Rights Reserved.

    HTML by the HR-Net Group / Hellenic Resources Institute
    news2html v2.20 run on Friday, 8 March 1996 - 10:37:42