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Athens News Agency: Daily News Bulletin in English, 97-06-06

Athens News Agency: Daily News Bulletin in English Directory - Previous Article - Next Article

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

ATHENS NEWS AGENCY BULLETIN (No 1205), June 6, 1997

Greek Press & Information Office
Ottawa, Canada
E-Mail Address: grnewsca@sympatico.ca


CONTENTS

  • [01] Greece notes divergence with Turkish 'experts' committee' memo
  • [02] Greece's European goals 'deficient', ND leader says
  • [03] Meeting with Robles
  • [04] Simitis calls for a 'socialist prospect' for Europe
  • [05] Gov't welcomes Holbrooke appointment on Cyprus
  • [06] State Dept. on appointment
  • [07] NY Times
  • [08] Garbage strike continues; meeting between Gov't, workers today
  • [09] Satisfaction with EU presidency's protocol on external borders
  • [10] Austrian cardinal regrets canceled visit by Vartholomeos
  • [11] Gov't on Europarliament condemnation of Turkey's treatment of enclaved
  • [12] Australian politician calls for return of the Parthenon Marbles
  • [13] Discussion held on employment problems faced by Black Sea Greeks
  • [14] Postmen strike this month
  • [15] Several Greek opera stars to appear together at Herod Atticus
  • [16] Eurocopter's helicopter presented to Gov't officials
  • [17] EOF bans 31 food, diet supplements
  • [18] Inflation falls to 5.4
  • [19] Greece to auction fixed-rate bonds
  • [20] Stock market loses substantial ground
  • [21] Public Power Corp ready for liberalization
  • [22] Commercial Bank sees improvement in 1997
  • [23] Sofia seeks closer economic links
  • [24] Hellenic Sugar invests 6.5 billion Dr.
  • [25] Thessaloniki hosts Balkan conference June 9-10
  • [26] Ioniki head considers expansion of activity in Bulgaria
  • [27] European press meeting in Athens
  • [28] SME representatives cite decrease in turnover
  • [29] Calls on Gov't to correct law on real estate leasing
  • [30] CLARIFICATION

  • [01] Greece notes divergence with Turkish 'experts' committee' memo

    Athens, 06/06/1997 (ANA)

    The government said yesterday that the texts prepared by the Greek and the Turkish "committees of experts", set up to examine procedural matters relating to differences between the two countries, reflected a "divergence of views and positions."

    The texts of the two committees were exchanged through the Dutch presidency of the European Union. "The texts are of the nature of general frameworks, with the Greek (text) referring to the use of the International Court at The Hague and respect for international law and international treaties, while the Turkish (text) refers to direct dialogue on the substance (of differences)," government spokesman Dimitris Reppas said.

    Mr. Reppas added that there was no movement regarding the matter at the present time and consequently there was no issue of arranging some meeting or preparing some agenda which could serve as "a list of issues."

    The spokesman said that the two members of the Greek committee were studying the Turkish text and in the next few days would be consulting with the political leadership of the foreign ministry.

    Foreign Minister Theodoros Pangalos yesterday called on Turkey to stop its "bully" tactics and threats of war, and reiterated that Athens was prepared to sign a non-aggression pact with Ankara since this would change the climate in relations between the two neighbors. Mr. Pangalos said Ankara was using war threats as part of a policy aimed at creating a framework of relations with Greece in which Turkey would have the upper hand.

    He was speaking at the presentation of a book by ANA's Istanbul correspondent, Alkis Kourkoulas, entitled "Imia - A Critical Approach to the Turkish Factor."

    Mr. Pangalos described Ankara's policy as "bully" tactics.

    "This bullying approach has to stop so that there can be relations of equality which would allow the shaping of a framework of discussion and provision - from the outset - regarding the institutions through which problems may be resolved, institutions which are appropriate to the nature of the differences rather than to the nature of the disagreement," he said.

    Mr. Pangalos said the threat of war hurled by the Turkish national assembly against Greece's right to extend its territorial waters to 12 nautical miles did not hold water for legal reasons, since this right emanated from the International Law of the Sea.

    In the event that Greece exercised this right tomorrow, Mr. Pangalos continued, the possibilities provided in the Law of the Sea enabling the passage of warships would automatically apply (safe passage).

    Pleasure craft and cargo vessels, he added, would continue to sail in the Aegean as today. "If Ankara wanted to go to war because of Greece's exercising this right, this would be obstructed by the commitment undertaken by the United States through its envoy in Athens, Thomas Niles, that Washington would intervene in any Greek-Turkish conflict.

    Mr. Pangalos reiterated that Greece would be willing to sign a non-aggression pact with Turkey "because this would resolve the problem created by the resolution of the Turkish national assembly and would change the climate in our relations."

    Turning to the possibility of Turkey one day becoming an EU member, Mr. Pangalos said this would be a "windfall" and "opportunity" for Greece, stressing that Turkey had a place in Europe.

    He added, however, that Ankara must display the appropriate behavior with respect to international law, human rights, democratic freedoms and the attainment of certain economic targets set by the EU.

    Mr. Pangalos, meanwhile, criticized Turkey's refusal to grant a building permit for a new Greek embassy in Ankara, saying it was an example of the poor relations between the two countries since the end of World War II. He also described it as "a ridiculous dimension of the point at which the mutual distrust between the two countries has reached."

    The piece of land belonging to Greece in the Turkish capital was granted by Mustafa Kemal Ataturk, Mr. Pangalos said, noting that the refusal to issue a building permit was in violation even of Turkish laws.

    Mr. Pangalos said Turkish Foreign Under-secretary Onur Oymen had found a new pretext for not granting the permit, by asking Greece for property of the same surface area in Athens.

    "Mr. Oymen is demanding a ransom amounting to billions of drachmas," he added.

    [02] Greece's European goals 'deficient', ND leader says

    Brussels, 06/06/1997 (ANA - M. Spinthourakis/M. Savva)

    The Intergovernmental Conference (IGC), Economic and Monetary Union (EMU) and Turkey's relations with the EU were the basic issues main opposition New Democracy leader Costas Karamanlis referred to yesterday in a press conference here.

    Referring to the IGC, Mr. Karamanlis said the government's objectives "were deficient", while the aims the PASOK government had set in terms of serious issues, such as the guaranteeing of EU member-states' borders, did not seem feasible, judging from present indications.

    In terms of the EMU, ND believes in Greece's participation as soon as possible, Mr. Karamanlis said, because it would serve national interests and prevent the danger of being excluded from the common European currency.

    The ND leader said that despite improvement in economic indicators, real convergence continued to be a distant prospect for Greece.

    Due to efforts in part by ND's Eurodeputies, he said, it has begun to be seen that the nature of economic development in public investments should be taken into consideration, while these investments should not be included in calculations of the public deficit.

    Commenting on the rise to power of the Left in France, Mr. Karamanlis said there was no longer the same distance between Left and Right as in the past, and that was mostly due to the shift of leftist powers to a more conservative position.

    Asked to comment on whether Turkey should not be included in the European Union on religious and cultural grounds, the ND leader said that Greece was "not the one who would prevent Turkey's European future" but the priority was that Ankara take positive steps towards improving relations with Greece and respecting human rights and the principles of democracy.

    Asked to comment on the recent appointment of former United States assistant secretary of state Richard Holbrooke as a special presidential envoy on the Cyprus issue, Mr. Karamanlis said that it would be too soon to make assessments and what is important is that international pressure on Turkey to solve the issue be increased.

    [03] Meeting with Robles

    Brussels, 06/06/1997 (ANA)

    Earlier, European Parliament President Gil Robles met with the ND leader and expressed his satisfaction on hearing Mr. Karamanlis' views on Greece.

    Mr. Robles, also a EPP member, said after their meeting "I am happy that a future prime minister has such deeply European beliefs."

    In his speech later to the EPP parliamentary group, Mr. Karamanlis noted that his party would continue its efforts in order that Greece meets the convergence criteria for the Maastricht Treaty.

    "There have been delays," Mr. Karamanlis said, "but I'm not here to criticize my country's government. I'm here to help with all my powers in our effort to succeed in the shortest possible time in satisfying the criteria for participation in the Economic and Monetary Union (EMU) with other peoples".

    [04] Simitis calls for a 'socialist prospect' for Europe

    Malmo, 06/06/1997 (ANA - S. Liarellis)

    Prime Minister Costas Simitis said a socialist prospect for Europe must be consolidated in negotiations for the new EU treaty, adding that the "moment is favorable" since at present socialists are in power in nine countries and participate in coalition governments in four others. The Greek premier spoke at the opening session of a conference of Socialist leaders of Europe, held in this Swedish port city.

    Mr. Simitis said "it is common knowledge that something must change in Europe" and that the socialist values and prospect must be consolidated in the new treaty. He said that what is necessary is defining "a supranational co-operation policy between socialist parties" to set the framework for future moves and discuss tactical issues.

    According to authoritative sources, during his meeting with his counterparts, Mr. Simitis made special reference to Balkan issues and insisted on the need for "Europe to awaken" in an effort to shape an integrated presence. He also called for a unified policy for southeastern Europe with a contribution by NATO, the European Union, the OSCE and the Council of Europe.

    Mr. Simitis expressed the view that the successes of Lionel Jospin in France and Tony Blair in Britain create the preconditions to tackle the problems of Europe and insisted on the need for commitments to be undertaken on common targets, common policies and actions for stability in Europe.

    Earlier, at a meeting of cabinet ministers and PASOK Euro-MPs, Mr. Simitis expressed the assessment that the wish of some for "flexibility" in criteria for Economic and Monetary Union (EMU) might not be realized, reminding of a past "threat" by German Chancellor Helmut Kohl that he will veto a possible request for a change in the timetable.

    However, Mr. Simitis expressed the hope that the strengthening of socialist forces in the EU will allow for the creation of more favorable preconditions.

    Before leaving from Malmg, Mr. Simitis met in Stockholm with Swedish King Karl XVI Gustav.

    [05] Gov't welcomes Holbrooke appointment on Cyprus

    Athens, 06/06/1997 (ANA)

    "The Cyprus problem is not being discussed as a package together with Greek-Turkish relations and the Aegean," government spokesman Dimitris Reppas underlined yesterday.

    The government spokesman was replying to reporters' questions concerning the appointment of former US Assistant Secretary of State Richard Holbrooke as the Clinton administration's special envoy on the long-standing Cyprus problem, as well as reports that the US wants a package solution to Greek-Turkish problems.

    "Mr. Holbrooke is an envoy for the Cyprus problem and has nothing to do with Greek-Turkish issues and the Aegean," he added.

    Mr. Reppas, however, indicated that Athens welcomed Mr. Holbrooke's appointment, saying that the US official had a "greater political weight" than any other envoy who had previously been involved with the Cyprus issue.

    "Mr. Holbrooke's appointment clearly indicates the strong interest of the United States in undertaking an initiative on the Cyprus problem, which the former secretary of state can discuss in an effective manner," Mr. Reppas said.

    The spokesman reiterated Greece's position that any Cyprus solution would have to be based on United Nations resolutions, the EU summit agreements of 1977 and 1979 and the conclusions from various talks on the issue. Commenting on forthcoming direct UN-sponsored talks between Cyprus President Glafcos Clerides and Turkish Cypriot leader Rauf Denktash, Mr. Reppas said the US and other permanent UN Security Council members had already expressed interest.

    "The Cyprus government will be going to the talks in a spirit of good faith and willingness," Mr. Reppas added.

    In a related development, the Communist Party of Greece (KKE) said the government's praise of Mr. Holbrooke's appointment showed "preparations to put Cyprus under NATO control".

    The appointment of Mr. Holbrooke, who mediated the Dayton peace accord for Bosnia, has already been welcomed by the Cyprus government and the Turkish Cypriot side.

    [06] State Dept. on appointment

    Washington, 06/06/1997 (ANA - A. Ellis)

    US State Department spokesman Nicholas Burns reiterated Washington's determination in promoting a solution to the Cyprus issue yesterday, stressing that the appointment of Mr. Holbrooke is a clear indication of the intention of US President Bill Clinton and US Secretary of State Madeleine Albright for additional pressure aimed at finding a solution.

    Mr. Burns said the aim of the US is the reunification of Cyprus with a status of bi-communal and bi-zonal federation and stressed that Washington will not support a solution not anticipating the reunification of the island.

    Replying to a question, Mr. Burns assessed that the "realistic and cooperative government of Greek Prime Minister Costas Simitis, combined with the 'useful and positive' relation existing with Cyprus President Glafcos Clerides and the relation with the Turkish government can help in promoting a solution."

    He said all the efforts by the US will not be isolated but will be coordinated with Britain, the UN and other interested parties.

    Mr. Burns, who had an extensive discussion on the issue yesterday with Mr. Holbrooke, who is in Europe, reiterated that the method the US envoy will apply on the Cyprus issue has not yet been decided since he wants a detailed briefing on the situation first.

    On the question of a possible adoption of a Dayton-type process, Mr. Burns said the Cyprus problem differs from that of Bosnia and for this reason Mr. Holbrooke will assess the situation himself and then decide in accordance with what is required by the specific reality in Cyprus.

    Mr. Burns reiterated the strong interest of the US not only in a solution to the Cyprus issue but also in normalizing Greek-Turkish relations which, he said, create problems in the region of the Balkans and the southeastern Mediterranean and create a situation which does not serve American interests in the region.

    [07] NY Times

    New York, 06/06/1997 (ANA - M. Georgiadou)

    The "New York Times" yesterday termed the appointment of Richard Holbrooke as US special presidential envoy on Cyprus as "a sign of renewed American seriousness" for the issue.

    Quoting a senior US official, NY Times staffer Steven Erlanger wrote that the appointment aimed at "trying to resolve one of NATO's most potentially destabilizing conflicts as the alliance votes to expand".

    He will "spend about a week every month on Cyprus issues and will do so without pay, although with the help of a full-time State Department officer", the article stated.

    In a phone interview to the daily after his appointment, Mr. Holbrooke was quoted as saying that Cyprus "along with Bosnia, is the great unresolved flashpoint in Europe".

    He said that "it's absolutely necessary for Europe, the United States and the United Nations to try to settle this issue. It's imperative we try, and I'm honored to be asked".

    The NY Times quoted him as saying that the Greeks and Turks "need to realize they both can gain by reaching a settlement of the issue that respects both their communities", especially in lieu of Cyprus' membership to the European Union, but he also expressed reservations "whether political conditions in Ankara, Athens and Nicosia will allow for a settlement".

    On relations between Greece and Turkey, the former assistant secretary said he agreed with the assessment of Czech President Vaclav Havel, namely, that Greece and Turkey would have gone to war at least twice since 1974 if not for their membership in NATO .

    "But while they are both NATO members, they have not normalized their relations, the way France and Germany did after the war," he was quoted as saying, adding that "tensions between them generally have been rising since the restraints of the cold war w ere removed."

    [08] Garbage strike continues; meeting between Gov't, workers today

    Athens, 06/06/1997 (ANA)

    Sanitation workers are scheduled to meet with Interior Under-secretary Lambros Papadimas this morning in an effort to resolve their rolling strikes, which have left thousands of tons of garbage the greater Athens area's street.

    The Panhellenic Federation of Local Authority Workers (POE-OTA) have entered their third 48-hour strike since over demands that workers on short-term contracts be given permanent posts.

    At a press conference yesterday, Interior Minister Alekos Papadopoulos said "the government has decided not to tolerate this situation any more", and termed the strike as "incomprehensible, unacceptable and fundamentally and legally groundless."

    The minister said that almost all employees status in garbage and sanitation services for municipalities will be settled under a memorandum expected to be sent to mayors soon.

    Meanwhile, the public health office of Athens municipality has been spraying garbage heaps near schools, hospitals and restaurants with pesticides, to combat health hazards.

    [09] Satisfaction with EU presidency's protocol on external borders

    Athens, 06/06/1997 (ANA)

    The protocol attached by the Dutch EU presidency to the text on the Intergovernmental Conference (IGC) refers specifically to the difference between Britain and Spain over Gibraltar, government spokesman Dimitris Reppas said yesterday. "The protocol reiterates something which is self-evident," he added, "namely, that the EU was never nor will be competent for determining the borders between member-states or between a member-state and a non-EU country," Mr. Reppas said.

    The spokesman underline d that countries' borders are determined by international treaties.

    "Greece views the position of the Dutch presidency as positive and expresses its full agreement," he added.

    Mr. Reppas noted that the protocol in no way affected the position expressed in the text of the treaty concerning the EU's external borders, over which Athens has expressed its satisfaction.

    [10] Austrian cardinal regrets canceled visit by Vartholomeos

    Vienna, 06/06/1997 (ANA-D. Dimitrakoudis)

    The cardinal of Austria, Franz Koenig, yesterday expressed his regret that Ecumenical Patriarch Vartholomeos had canceled his visit here.

    Vartholomeos had been scheduled to pay an official visit to Austria on June 17-21 and participate in the second European ecumenical congress there on June 23-29, but canceled the trip charging the Vatican and the Moscow Patriarchate with trying to turn the latter meeting into a show of strength.

    At a speech in Graz during the preparations for the congress, the Austrian cardinal warned about the threat behind-the-scenes politics posed to dialogue between the churches, and expressed the hope the ecumenical movement in Europe would be able to over come the difficulties that have arisen.

    The Ecumenical Council of Churches in Austria also expressed its regret yesterday about Vartholomeos' canceled visit and its hope that it may still take place in the close future.

    [11] Gov't on Europarliament condemnation of Turkey's treatment of enclaved

    Athens, 06/06/1997 (ANA)

    "The resolution of the Europarliament condemning the Turkish and Turkish Cypriot sides for its violation of the rights of the enclaved Greek Cypriots in Turkish-occupied Cyprus shows that there are international bodies which are vigilant and render unto Caesar that which is Caesar's," government spokesman Dimitris Reppas said yesterday.

    The spokesman added that the positions adopted unanimously by the European Parliament showed that it was a Community body which respected individual rights and freedoms and attributed responsibility to those who violated them.

    "For this and other reasons, the Greek government would like to see the stronger intervention of the European Parliament in the operation of EU bodies," Mr. Reppas said.

    [12] Australian politician calls for return of the Parthenon Marbles

    Melbourne, 06/06/1997 (ANA -S. Hatzimanolis)

    The premier of the Australian state of New South Wales has sent a letter to British Prime Minister Tony Blair calling the new Labor government's recent decision not to return the Parthenon Marbles "harsh".

    "As a colleague and an admirer of the British Labor Party," Bob Carr writes, "I appeal to you to rescind your decision and to honor the position of the former Labor Party leader Michael Foot who had promised to return the Marbles to the Parthenon where they belong ."

    Mr. Carr, who is due to visit Greece in September to clinch a deal with the Greek government regarding Sydney hosting an antiquities exhibition during the Olympic Games in 2000, said that he believed 2000 would be "the ideal time for such a big-hearted and civilized gesture from Britain".

    [13] Discussion held on employment problems faced by Black Sea Greeks

    Athens, 06/06/1997 (ANA)

    A discussion was held in Alexandroupoli yesterday on the issue of "Employment problems faced by Black Sea region Greeks from the former Soviet Union."

    The event was held in the framework of the European Union employment initiative and the program "Accession Through Trai-ning and Employment" in which the municipality of Alexandroupoli participates.

    Views were expressed, among others, by a representative of the general secretariat for Overseas Greeks, the Labor Center of the Evros Prefecture, representatives of Black Sea Greek societies and local businessmen.

    About 4,000 Black Sea region Greeks (Pontians) live in Alexandroupoli and about 600 people are employed, while the others hold part-time employment.

    [14] Postmen strike this month

    Athens, 06/06/1997 (ANA)

    Postmen decided yesterday to call two new 48-hour strikes on June 12-13 and June 17-18.

    The Greek Post Offices (ELTA) employees are complaining that ELTA's administration is not hiring more postmen to relieve the workload. The postmen are also demanding that their occupation be classified as unhygienic and the payment of overtime for work done on holidays due to a lack of staff.

    [15] Several Greek opera stars to appear together at Herod Atticus

    Athens, 06/06/1997 (ANA)

    Well-known foreign-based Greek opera singers will appear at the ancient Herod Atticus theater on June 11 for an event entitled "Legendary Moments of the Opera".

    The event is organized by the Hellenic Center for Fighting Illiteracy Among Adults.

    Singers include baritone Dimitris Kavrakos from the United States, soprano Jenny Drivalas from Switzerland, tenor Marios Frangoulis from Britain and mezzo-soprano Pamela Pantos from Germany.

    John Apeitos will conduct the European Festival Orchestra.

    The performance is under the aegis of the embassies of the countries in which the performers live and perform.

    [16] Eurocopter's helicopter presented to Gov't officials

    Athens, 06/06/1997 (ANA)

    A helicopter touted as capable of being used in police missions, rescue operations and firefighting missions was presented to government officials and representatives of public organizations and private enterprises in Athens yesterday.

    The presentation was made by the PROMOT E.I. Lainopoulos S.A. company, the representative in Greece of the Eurocopter company, which manufactures the helicopter.

    PROMOT president Ioannis Lainopoulos referred to the need to use helicopters, due to the country's geophysical formation and the nature of its terrain. He said successful co-operation between his company and Daimler Benz has led to co-operation with Eurocopter, in which Daimler Benz participates.

    Eurocopter officials underlined the success of rescue operations with the use of helicopters which, in contrast to ambulances, can be used during traffic rush hours and over long distances.

    [17] EOF bans 31 food, diet supplements

    Athens, 06/06/1997 (ANA)

    The National Pharmaceuticals Organization (EOF) yesterday banned the sale of products sold as food supplements and special dietary preparations, used mainly by athletes and body-builders.

    Following checks carried out over the past two weeks at several fitness centers, health food stores and import companies, EOF revealed that 31 such products were sold illegally.

    EOF said the products contained substances such as ephedrine, caffeine, anabolic steroids and creatine.

    In most cases, the products were imported, and according to EOF President Gerassimos Kavvadias, none had received the approval required from the state organization for sale to consumers.

    Mr. Kavvadias said use of the products could cause serious health problems.

    [18] Inflation falls to 5.4

    Athens, 06/06/1997 (ANA)

    Greek inflation fell to 5.4 percent in May from 5.9 percent the previous month, according to a National Statistics Service announcement. The consumer price index rose by 0.4 percent in May compared to a 0.8 percent increase in the corresponding month last year.

    The statistics service attributed the fall in the inflation rate to seasonal factors and particularly the withdrawal of heating oil from the index due to the onset of summer and also the price increases of seasonal fruits.

    [19] Greece to auction fixed-rate bonds

    Athens, 06/06/1997 (ANA)

    Greece will auction a new series of fixed rate three-, five- and seven-year bonds on June 19 worth 250 billion drachmas, Finance Under-secretary Nikos Christodoulakis said.

    Christodoulakis was presenting details of the socialist government's intern al borrowing plan for the second half of the year. Due to increased internal borrowing requirements, the ministry would reduce external borrowing from an initial target of 4.2 billion dollars to 3.5 billion for the current year, he said.

    The government would raise money in the capital markets of the United States, Japan and Europe. Part of the capital would be raised through private placements. Christodoulakis also referred to the future debt policy of the government, saying the finance ministry would continue with a gradual and realistic fall in interest rates.

    [20] Stock market loses substantial ground

    Athens, 06/06/1997 (ANA)

    Share prices came under strong selling pressure on the Athens Stock Exchange to lose substantial ground as the market looked set for a correction. Traders said that the sharp fall in volume was a worrying factor.

    The general index closed 1.52 percent lower at 1,644.66 points with all sector indices losing ground. Banks fell 2.07 percent, Leasing was 1.0 percent off, Insurance dropped 2.15 percent, Investment eased 1.93 percent, Industrials were 0.78 percent down, Construction dropped 2.31 percent, Holding was 1.63 percent off and Miscellaneous fell 1.26 percent.

    The Parallel Market index ended 1.51 percent lower. Trading was moderate with turnover at 17.7 billion drachmas, almost half the previous two-week average.

    Broadly, decliners led advancer s by 177 to 40 with another 28 issues remaining unchanged. Papoutsanis, Interinvest and Ippotour scored the biggest gains while Vis, Parnassos, Elviemek and Alkar-Aemet suffered the heaviest losses of the day.

    National Bank of Greece ended at 36,980 drachmas, Ergobank at 18,900, Alpha Credit Bank at 19,940, Titan at 26,500, Intracom at 13,650 and Hellenic Telecommunications Organization (OTE) at 7,140 drachmas.

    [21] Public Power Corp ready for liberalization

    Athens, 06/06/1997 (ANA)

    Development Minister Vasso Papandreou said the Public Power Corporation (DEI) would keep its electricity rates steady for two years, and the company was ready to compete in the international electricity market from February 2001, the start of the first phase of liberalization in the European energy market.

    Papandreou was briefing parliament's production and commerce committee on the government's energy policy ahead of implementation of a European Union directive on gradual liberalization of the internal electricity market.

    She added that by the end of the year the government would submit a draft bill in parliament setting the terms and conditions for the sale of up to 23-27 percent, initially, of the domestic electricity market to the private sector.

    [22] Commercial Bank sees improvement in 1997

    Athens, 06/06/1997 (ANA)

    Commercial Bank of Greece hopes to improve its performance in 1997 following a sharp drop in 1996 profits to 12.7 billion drachmas from 26.2 billion a year earlier, its governor Konstantinos Georgoutsakos said.

    First quarter profits were markedly higher than in the corresponding period of 1996 and earnings for 1997 should show great improvement, barring adverse external factors, Georgoutsakos told a luncheon for financial correspondents.

    Management aimed to further cut operational costs following a slower rate of increase in 1996 at 15.2 percent, down from 22.9 percent in 1995, he said.

    [23] Sofia seeks closer economic links

    Athens, 06/06/1997 (ANA)

    Bulgaria is seeking to strengthen economic links with Greece through the creation of joint industrial and manufacturing ventures, according to a delegation of Bulgarian government officials and businessmen currently visiting the northern town of Drama.

    Led by Development and Public Works Under-secretary Petko Evref, the delegation includes officials from three Bulgarian ministries, trade and tourism representatives and public sector technocrats. In a meeting with Drama prefect Socrates Demetriades and representatives of the local business community, the Bulgarian delegation discussed creation of joint industrial and manufacturing units in Greece and Bulgaria.

    The delegation also proposed the strengthening of bilateral tourist and trade co-operation. Greek authorities outlined progress in a new customs post project in Exohi, at the Greek-Bulgarian border.

    Bulgarian officials stressed the urgency of the project for the neighboring country as the government aimed to use the new customs post to move exports into other Mediterranean and Middle Eastern countries.

    [24] Hellenic Sugar invests 6.5 billion Dr.

    Athens, 06/06/1997 (ANA)

    State-run Hellenic Sugar Industry SA has ploughed 6.5 billion drachmas of its own capital into a modernisation plan for two sugar producing units it owns in northern Greece.

    General manager Theodoros Anthomelidis said the investment aimed at modernisation of the two units in order to compete in the European market.

    The investments would be used to help reduce costs, improve quality, automate operations and modernize the two units' machinery. The factories would produce 100,000 tons of sugar from a cultivated area of 165-170 hectares this year, providing employment for around 9,500 farmers.

    Xanthi sugar factory would proceed with the production of a new light sugar product and launch a new packaging unit worth 1.2 billion drachmas, Anthomelidis said.

    [25] Thessaloniki hosts Balkan conference June 9-10

    Athens, 06/06/1997 (ANA)

    A ministerial conference on stability and co-operation in the Balkans will be held in Thessaloniki on June 9-10 in order to help promote security and economic development in the region.

    The conference will be attended by government ministers from Balkan states and representatives of the European Commission, World Bank, Western European Union, International Monetary Fund and the Bank for Reconstruction and Development.

    The Greek business community has shown great interest in the conference with more than 5 0 major industries, companies and banks expected to attend the meeting.

    Among them are the Public Power Corporation, Motor Oil, Olympic Airways, Michaniki SA, Hellenic Railways Organization, Intracom, Hellenic Cables, the Union of Greek Shipowners, National Bank of Greece, Alpha Credit Bank, Ergobank, Xiosbank, Viohalco, Balkan Export SA, Titan Cement, FAGE and Petzetakis.

    [26] Ioniki head considers expansion of activity in Bulgaria

    Sofia, 06/06/1997 (ANA - N. Hios)

    Greece should consider even more expanded business activities Bulgaria, Ioniki Bank Governor H. Stamatopoulos said here yesterday.

    In statements to ANA, Mr. Stamatopoulos said that "Bulgaria is an area of vital economic interest to Greece, therefore, the presence and expansion of Greek businesses in Bulgaria should be seriously considered".

    He added that he had "observed an honest desire by Bulgarian economy officials to promote economic co-operation with Greek businesses".

    The bank governor is attending the forum "Doing Business in Bulgaria", which is sponsored mainly by Ioniki, and met with the Bulgarian Vice-President and chief of the economy sector Alexander Boskov.

    Describing the conditions existing in Bulgaria, Mr. Stamatopoulos said that "the economic situation in Bulgaria is difficult, but reversible, while it is obvious the government intends to proceed with the cleansing and restructuring of the economy".

    The Ioniki Bank has operated a branch in Sofia for the past two years and is considering opening two more branches and expanding the presence of its subsidiaries in the specialized services sector.

    Ioniki was the first foreign banks to operate in Bulgaria.

    [27] European press meeting in Athens

    Athens, 06/06/1997 (ANA)

    Greece will host the annual general assembly of European Financial Press Unions on June 11-14 attended by the publishers of major financial newspapers and magazines in Europe. During the meeting the future of the financial press will be discussed and an annual prize awarded to the best performing company for 1996.

    The name of the winner will be announced at a ceremony on June 13 to be attended by Development Minister Vasso Papandreou.

    The members of the union will meet Prime Minister Costas Simitis and be briefed on the Greek economy by National Economy and Finance Minister Yiannos Papantoniou, Bank of Greece governor Lucas Papademos, and National Bank of Greece chairman Theodore Karatzas. They will also meet with Athens Mayor Dimitris Avramopoulos for a briefing on Athens' candidacy to host the 2004 Olympic Games.

    Naftemboriki and Express, two of Greece's top daily financial newspapers, and Economikos Tahydromos, an economy weekly, will represent Greece at the assembly.

    [28] SME representatives cite decrease in turnover

    Athens, 06/06/1997 (ANA)

    Small- and medium-sized enterprises (SMEs) in the country experienced a 30-40 per cent decrease in turnover last year and as a result 58 per cent of them went bankrupt.

    These figures were announced at a press conference yesterday by the Federation of Handicrafts and Small Manufacturers Associations of Athens (OBSA), which added that the sector is determined to mobilize.

    OBSA President Mihalis Diamantis said "we are making efforts to prevent 80,000 enterprises in Greece from closing" and announced that a protest meeting will be held at the Diana theater at 7:30 p.m. on Monday.

    According to OBSA, their sector is protesting the government's income policy, what they termed the uncontrolled activity of department stores, working hours, heavy taxation, lack of proper non-existent subsidization, as well as the social insurance and pensioning issues.

    Referring to "social dialogue", Mr. Diamantis said "although we know its results beforehand, we will attend to listen and to raise our positions."

    [29] Calls on Gov't to correct law on real estate leasing

    Athens, 06/06/1997 (ANA)

    In a letter to Development Minister Vasso Papandreou, Athens Chamber of Commerce and Industry (EBEA) president Yiannis Papathanasiou requests an amendment of the existing legislative framework concerning leasing of real estate.

    Mr. Papathanasiou states that despite the fact that the government initiated the leasing of real estate with law 2687/95, a positive measure for small- and medium-sized enterprises, in practice it remains inactive due to certain weaknesses in the law it self. He further said that no leasing firm will approve a leasing of real estate with the preconditions set out in the law.

    "I hope that the government, in the framework of its political choice to support the effort of the country's small- and medium-sized enterprises, will go ahead with necessary corrective measures so that a law which has been ratified since 1995 will be able to be implemented at last," he stated in his letter.

    [30] CLARIFICATION

    Athens, 06/06/1997 (ANA)

    In yesterday's Bulletin, June 5 edition, in the story entitled "Greece joins WEU multinational land, sea forces", it was inadvertently reported that the WEU organization itself had approved Greek participation in the forces, whereas it was the WEU's Parliamentary Assembly that passed the amendment calling for Greece's participation.

    End of English language section.


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