Athens News Agency: Daily News Bulletin in English, 97-07-02
From: The Greek Press & Information Office, Ottawa Canada <grnewsca@sympatico.ca>
ATHENS NEWS AGENCY BULLETIN (No 1226), July 2, 1997
Greek Press & Information Office
Ottawa, Canada
E-Mail Address: grnewsca@sympatico.ca
CONTENTS
[01] Greece reserved on Turkish decision for moratorium in Aegean
[02] Turkish military announcement
[03] US response
[04] Cyprus enters direct talks with 'good will', Clerides stresses
[05] Cyprus in next EU enlargement
[06] Turkey again threatens to annex occupied part
[07] Greek, Cypriot protests over participation of pseudo-state
[08] ND leader criticizes Gov't for 'poor management'
[09] European court upholds disqualifying of Greek MPs
[10] Gov't defends Papandreou against Kokkalis statements
[11] International team begins ozone research program
[12] Greek, US officials have talks on security issues
[13] Pangalos meets with Chinese president, premier
[14] Greece pleased with conduct of Albanian elections
[15] Greece supports Yugoslavia's integration into int'l community
[16] Neolithic pile-dwellings to be reconstructed in Kastoria
[17] Halkidiki first in 'Blue Flags'
[18] Anthony Quinn received by V. Papandreou
[19] Summer sales season begins
[20] Registry for mail order, telephone sales firms
[21] Bulgarian approval for new border bridge
[22] Athens Stock Exchange, FTSE Int'l present new index
[23] Greek economy in non-inflationary growth course, Alpha survey
[24] Domestic air fares, postage prices rise
[25] Stock prices move up in light trade
[26] Stalemate in talks over civil aviation work stoppages
[27] Public Power Corporation procurement policy progress
[28] Sixth straight win for Greece at EuroBasketball Championship
[01] Greece reserved on Turkish decision for moratorium in Aegean
Athens, 02/07/1997 (ANA)
Greece indirectly pointed to Turkey yesterday as making moves
aimed only at creating impressions after Ankara's announcement
yesterday to "limit" Turkish military exercises in the Aegean
between July 1 and Aug. 15.
Athens stressed that it supports confidence-building measures
(CBMs) "which do not falsify sovereign rights and international
duties assigned to it (Turkey)."
A lengthy government announcement issued late last night termed
as unacceptable "Turkey's demand for 'reciprocity' in briefing
Turkish authorities in connection with Greek aircraft flights
over the Aegean, a fact which conceals its (Turkey) real aims.
"The region of the Aegean constitutes a region of Greek
responsibility and Flight Information Region (FIR) management
and includes in its entirety the considerable part of the Greek
state. The IFF/SIF system does not provide a solution. The
problem is not the identity of the aircraft but their attitude,"
the government announcement read.
On the question of abstention from exercises during the summer
months, Greece accused Turkey of "backtracking" on the
commitment which the two countries assumed with the 1988
Papoulias-Yilmaz agreements, and which was confirmed through the
NATO Secretary General in June 1996 regarding abstention from
exercises. This mutual commitment, the government added,
includes all of July and August.
Athens further charged that Ankara is now announcing a
"unilateral commitment" which comes to an end on Aug. 15, while
Greece will observe in full the two-month commitment in
accordance with the agreement which has been signed.
In connection with armed warplanes, the Greek government
mentions that Hellenic Air Force aircraft "in any case do not
carry weapons in their training missions, but will continue to
carry out those missions which concern the security of
navigation in the Aegean in the way imposed by regulations."
The government announcement stresses that every decrease in
tension in the Aegean contributes to an improvement in security
and the climate in the region and is welcome. In parallel, it
reminds that "tension in the Aegean is due exclusively and
solely to the aggressiveness shown by the Turkish side, with
territorial claims, by disputing law, rules and agreements which
define the existing status and with daily pressure created by
violations of air traffic rules, as well as violations of
national airspace ."
However, the government notes as positive Ankara's statement
that it will "pedantical-ly observe the implementation of
international rules in its activities on the sea and in the
air," which emanates from the Papoulias-Yilmaz agreements.
The government said it expected that in these activities in
international waters and in the international airspace of the
Aegean, the Turkish side will observe international rules and
regulations in their entirety and not selectively.
Greece has charged for years that Ankara's warplanes violate the
Athens FIR and Greek airspace.
Greece expresses the hope that the effort undertaken by the NATO
Secretary General will continue on shaping mutually acceptable
measures which will decrease tension in the direction of the
Papoulias-Yilmaz agreements in a climate of respect for
international law and the status quo in the region and that the
Turkish government's intention is moving in this direction, as
it should do, and not in the direction of creating impressions.
[02] Turkish military announcement
Istanbul, 02/07/1997 (ANA/Reuter)
Turkey's armed forces said that they would temporarily limit
activity in the Aegean, in order to support NATO-led measures
for the reduction of tension between Greece and Turkey.
"The Turkish navy and air force will carry out routine training
and reconnaissance activities in the Aegean between July 1 and
Aug. 15 but there would be no maneuvers during the period,"
Turkish military headquarters announced in a statement.
Turkey regularly carries out war games in the Aegean in the
summer.
The military said Turkish aircraft would not be armed when
operating over the Aegean. However, it held out the possibility
of an exchange of information between Greece and Turkey on air
operations in the region.
It said the move was being made "to support the initiative of
NATO General Secretary (Javier) Solana, who has made great
efforts on measures to reduce tension in the Aegean and build
confidence."
NATO members Turkey and Greece nearly came to blows in January
1996 after Ankara disputed Athens' sovereignty of the Imia
islets.
[03] US response
Washington, 02/07/1997 (ANA/AFP)
The United States expressed satisfaction with Ankara's decision,
a US Defense Department official said yesterday.
"We hail all measures taken by all sides to de-escalate tension
in the Aegean and believe that this is a commendable measure".
[04] Cyprus enters direct talks with 'good will', Clerides stresses
Athens, 02/07/1997 (ANA)
Cyprus will enter UN-sponsored direct talks with "good will" but
determined to safeguard the interests of the island republic,
visiting Cyprus President Glafcos Clerides said yesterday after
talks with Prime Minister Costas Simitis, which confirmed the
close co-operation between the two governments. Mr. Clerides is
in Athens for consultations ahead of his scheduled UN-sponsored
direct talks with Turkish Cypriot leader Rauf Denktash,
scheduled to take place near New York City between July 9-13.
Speaking to reporters after the meeting, Mr. Simitis said the
Clerides-Denktash talks should serve as an opportunity or even
lead to a just and viable solution for the Cyprus problem, in
accordance with UN resolutions and the 1977 an d 1989 summit
decisions between Greek and Turkish Cypriots.
Mr. Simitis reiterated that the international community should
realize that it was the Turkish side which should conform with
international legality and remove the consequences of its 1974
invasion and current occupation of one third of the island
republic.
The premier welcomed international initiatives being undertaken
aimed at finding a settlement to the problem, provided they were
within the framework set by the UN Secretary General.
The prospect of Cyprus' accession to the European Union, Mr.
Simitis stressed, could act as a catalyst for developments in
the Cyprus problem, "which means that the solutions being
pursued must be compatible with European law and order."
Summing up Greece's primary objectives with respect to Cyprus,
Mr. Simitis said they were "inde-pendence, territorial
integrity, security, sovereignty and Cyprus' accession to the
EU."
Thanking Mr. Simitis and the Greek government for their support
to date, "without which it would not be possible now to hope for
some success," Mr. Clerides said that in all his contacts with
Athens, decisions had been taken unanimously on the best way to
handle the Cyprus issue.
Mr. Clerides said the Cyprus government would be entering into
talks with Mr. Denktash with "good will" but determined to
protect the just causes and interests of the island republic.
Asked to comment on threats by Mr. Denktash that he may not
participate in the talks if he is not informed on a document to
be presented by the UN, President Clerides said this has nothing
to do with the Cyprus government.
"If Denktash does not go to the talks, this will be to the
disadvantage of the Turkish Cypriot side and the Cyprus
problem," he noted. Both Mr. Clerides and Mr. Simitis noted that
Nicosia had invited the Turkish Cypriot side to participate in
negotiations for Cyprus' accession to the EU, through chambers
of commerce or trade union organizations which express Turkish
Cypriot interests.
Mr. Clerides underlined, however, that there could be only one
Cypriot delegation, adding that the entire issue would be
discussed with Mr. Denktash if it is raised by the Turkish
Cypriot leader at the New York talks.
The meeting was also attended by National Defense Minister Akis
Tsohatzopoulos, Alternate Foreign Minister George Papandreou,
Foreign Under-secretary Yiannos Kranidiotis as well as Cypriot
Foreign Minister Ioannis Kasoulides, Cypriot government
spokesman Manolis Christofides, Under-secretary to the
President's Office Pantelis Kouros, Cypriot Attorney General
Alecos Markides, Cypriot Ambassador to Athens Charalambos
Christoforou and other officials from both sides.
The UN-brokered direct talks between the Cypriot government and
the Turkish Cypriot community will be attended by
representatives of the Security Council's five permanent
members, representatives of Greece, Turkey and Britain, which
are the three guarantor powers for Cyprus, as well as
representatives from Germany, Finland, Sweden, Norway, Italy,
Canada and the European Union.
[05] Cyprus in next EU enlargement
Athens, 02/07/1997 (ANA)
Cyprus will be part of the first phase of the next European
Union enlargement, Alternate Foreign Minister George Papandreou
and Foreign Under-secretary Yiannos Kranidiotis stated yesterday.
However, they ruled out any institutionalized presence of the
Turkish Cypriot community as a separate entity at the
forthcoming accession negotiations Cyprus is due to start with
the EU in 1998.
Speaking after a meeting here yesterday with Cyprus Foreign
Minister Kasoulides, Mr. Kranidiotis said "we exchanged views to
coordinate our future moves in a spirit of close co-operation
and friendship".
He said the meeting was part of the regular exchanges Greece and
Cyprus maintain as part of coordinated efforts to promote a
solution of the protracted Cyprus problem.
"Our meeting was particularly important in view of the direct
talks on Cyprus," Mr. Kranidiotis said, and added that they
discussed ways to accelerate the Cypriot application for EU
membership.
On his part, Mr. Papandreou said the EU Commission will issue
its report on enlargement, entitled "Agenda 2000", in mid-July.
[06] Turkey again threatens to annex occupied part
Istanbul, 02/07/1997 (ANA - A. Kourkoulas)
"Turkey attributes great importance to Cyprus, both from the
point of view of security for the 'Turkish Republic of Northern
Cyprus' and the view of security for Turkey itself," an
announcement by the Turkish foreign minis try read yesterday.
The announcement claims that the legally recognized government
side is continuing to "arm itself with heavy weapons, is
implementing the joint defense doctrine (with Greece) and is
building military bases."
Turkey also accused the Republic of Cyprus "of supporting
terrorist activities in a way which forms a threat not only to
the 'Turkish Republic of Northern Cyprus', but to the security
of Turkey and the region."
However, the announcement reiterates that "Turkey supports
efforts being made by the United Nations secretary general for
the attainment of a peaceful solution to the Cyprus issue."
"Face-to-face talks anticipated in New York constitute a
suitable opportunity for the attainment of a permanent solution
with the free will of the two leaders of Cyprus," the
announcement said, and concluded "that Turkey will continue to
support the views contained in the joint communiqui between
Turkey and the 'Turkish Republic of Northern Cyprus' which were
accepted on Jan. 20, 1997."
The communiqui to which the Turkish announcement refers
anticipates the incorporation of the Turkish-occupied northern
part of Cyprus into Turkey if the process for the accession of
the Republic of Cyprus into the European Union proceeds.
Turkey is the only nation in the world to recognize the
so-called "Turkish Republic of Northern Cyprus", illegally
established in 1983 in the 37 per cent of the island republic
controlled by Turkish troops.
[07] Greek, Cypriot protests over participation of pseudo-state
Bonn, 02/07/1997 (ANA - P. Stangos)
The embassies of Greece and Cyprus have addressed protest
letters to the radio network "Deutsche Welle", while Cyprus also
made representations to the German foreign ministry over the
joint housing and tourism promotion of the illegal Turkish
Cypriot pseudo-state at Turkey's pavilions in two events.
The pseudo-state in Turkish-occupied northern Cyprus was
featured both in an annual event organized by the German network
on June 26 and in activities for "Tolerance Day", organized
under German foreign ministry sponsorship on June 29.
At both events Turkey's official pavilions included among their
exhibits pamphlets and posters promoting "Northern Cyprus."
The Cyprus ambassador to Bonn, Th. Theofilou, addressed a
complaint letter the next day, while the charge d'affaires of
the Greek embassy, ambassador Dimitris Kontoumas, stressed the
"impropriety" of the fact to the radio network's general
director.
The Turkish Cypriot pseudo-state was illegally created in 1983
in the island republic's Turkish-occupied north. It is only
recognized by Ankara. Turkey invaded Cyprus in 1974.
[08] ND leader criticizes Gov't for 'poor management'
Athens, 02/07/1997 (ANA)
"We can change and make the Greece we live in today different,
rid of the instances of decline and misery that have crippled us
all these years," main opposition New Democracy leader Costas
Karamanlis told a meeting of ND cadres in Kavala yesterday.
He added that Greece's "present ill-fate lies in the fact that a
specific political party founded its rise to power... on feeding
an extensive but extremely low in quality, meritocracy and value
party nomenclature".
The ND leader charged the government with "...squandering funds,
benefits, and hundreds of (public sector) hirings unrelated to
abilities and skills".
ND's responsibility in proving itself was "a great
responsibility... to serve his fellow men and citizens".
[09] European court upholds disqualifying of Greek MPs
Strasbourg, 02/07/1997 (Reuter/ANA)
The European Court of Human Rights on Tuesday upheld rulings by
the Athens Supreme Court annulling the election of five members
of the Greek parliament.
The five were disqualified under Greek law because they had held
public positions for more than three months in the three years
before being elected.
The Strasbourg-based court rejected their pleas that the
annulment breached the right of voters to freely choose their
representatives.
Costas Geitonas had been deputy head of the prime minister's
office, Dimitris Paleothodoros had been head of Greece's second
television channel, and Nikos Sifounakis had been head of the
Greek Broadcasting Company before the 1990 election.
Yannis Kavaratzis had been first deputy director of the Social
Security Fund and Gerassimos Giakoumatos was its second deputy
director before the 1993 election.
[10] Gov't defends Papandreou against Kokkalis statements
Athens, 02/07/1997 (ANA)
The government yesterday commented on statements by president of
Greek telecoms company Intracom Socrates Kokkalis regarding
Development Minister Vasso Papandreou.
"The government does not enter into dialogue with individuals
who judge the doings of the government," government spokesman
Dimitris Reppas said. "The government is judged by the people".
Mr. Kokkalis on Monday criticized what he called delays in the
work of the development ministry and in the placing of contracts.
Mr. Reppas said the government's work as regards the development
ministry so far had been successful and Ms Papandreou has
contributed, as have other ministers, to the growth noted today.
"The last thing the government can be criticized for," he added,
"is non-existence, inability and delays." Today's achievements
are all the more significant given that a few years ago they
were an unattainable dream, he said.
[11] International team begins ozone research program
Athens, 02/07/1997 (ANA)
An international experimental research program on ozone levels
in the atmosphere will be carried out in Kalavryta from July 21
to August 10.
The initiative for the program belongs to professor of
atmospheric physics at Athens University, Costas Varotsos.
Under the program, the World Meteorological Organization and the
National Center for Atmospheric Research of the United States
have assigned to an Athens University ozone and solar radiation
research team the taking of measurements in the area of
Kalyvryta.
International environmental organizations have rated the area in
question in the Peloponnese as ideal for conducting
atmosphere-related experiments.
As part of the same program, research teams from the USA,
Russia, Romania, the Czech Republic, Egypt and Germany will be
coming to Kalavryta with their own experimental equipment.
The measuring instruments will be installed in a specially laid
out area in the Kalavryta ski center, which is currently being
prepared by the local government authority.
Measurements of ozone and solar ultra-violet radiation will be
taken daily from dawn to dusk in the clear atmosphere of
Kalavryta which also has the advantage of relatively high
altitude.
The research findings will be published in a special volume to
be presented at an exhibition organized by the World
Meteorological Organization, Athens University.
[12] Greek, US officials have talks on security issues
Athens, 02/07/1997 (ANA)
National Defense Minister Akis Tsohatzopoulos yesterday had
talks with visiting US Senator Paul Sarbanes on issues related
to Washington's overall policy on peace, security and
co-operation in Europe, developments in the Balkan region and
Greek-US relation s.
Also present at the meeting, which comes shortly after talks
between Mr. Tsohatzopoulos and Mr. Sarbanes in Washington, was
US Ambassador in Athens Thomas Niles.
Mr. Sarbanes described as "very successful" Mr. Tsohatzopoulos'
visit to the US, noting that the minister had presented a clear
picture of the situation in the region during his talks with US
officials.
Alternate Foreign Minister George Papandreou later had talks
with Mr. Sarbanes, again attended by Mr. Niles.
The meeting between Mr. Papandreou and Mr. Sarbanes was within
the framework of direct talks between Cyprus President Glafcos
Clerides and Turkish Cypriot leader Rauf Denktash under UN
auspices in New York on July 9.
Speaking to reporters after the meeting, Mr. Sarbanes said the
purpose of his talks with Mr. Papandreou was "for us to try and
reduce tension in the region," expressing the hope that the US
would contribute in this direction.
Mr. Papandreou said he had exchanged views "in depth" with the
US senator on issues of interest to the two sides.
Asked by reporters about the ultimate aim of his visit, Mr.
Sarbanes said he did not have any special role and would remain
in Greece for three months.
[13] Pangalos meets with Chinese president, premier
Athens, 02/07/1997 (ANA)
Foreign Minister Theodoros Pangalos had talks yesterday in Hong
Kong with China's President Jiang Zemin and Premier Li Peng.
In Hong Kong for the British handover of its former colony to
China, Mr. Pangalos renewed an invitation from President Kostis
Stephanopoulos to Zemin and Li Peng to visit Greece.
Mr. Pangalos also had talks with his counterpart, Qian Qichen,
who assured Mr. Pangalos that "ways would soon be found" for the
visits to take place.
On the sidelines of handover events, Mr. Pangalos also had the
opportunity to meet with counterparts from the European Union,
ASEAN, the United States and other countries.
[14] Greece pleased with conduct of Albanian elections
Athens, 02/07/1997 (ANA)
The Greek government yesterday expressed satisfaction at the way
in which general elections were held in Albania and the fact
that all the political forces in the neighboring country had
accepted the result.
"All this indicates that the situation is returning to normal,"
government spokesman Dimitris Reppas said, describing this as a
positive development.
The further strengthening of relations between the two countries
will help protect the rights of the ethnic Greek community in
Albania, Mr. Reppas added.
[15] Greece supports Yugoslavia's integration into int'l community
Belgrade, 02/07/1997 (ANA - M. Mouratidis)
Prime Minister Costas Simitis told Yugoslav state-owned
television that Greece supported the Federal Republic of
Yugoslavia's full integration into the international community.
"The Balkans should play a leading role in the new European
developments," Mr. Simitis said, adding that "there should be no
dividing line between north and south Europe, neither between
west and east Europe."
"All European countries must be part of European developments
and the Balkans should (also) be part of this process," the
premier said.
Mr. Simitis pointed to the need for a Balkan policy giving all
Balkan countries equal opportunities.
"The Federal Republic of Yugoslavia should become an integral
part of this common effort," he said.
Turning to bilateral relations, Mr. Simitis stressed that
relations between Greece and the Federal Republic of Yugoslavia
had always been very good, even through difficult times.
Mr. Simitis said that the international community's change in
attitude towards former Yugoslavia creates the opportunity for a
strengthening in bilateral relations in the political and
economic sectors.
He said the development of bilateral relations could be
facilitated by signed agreements on the protection of investment
and the avoidance of double taxation.
[16] Neolithic pile-dwellings to be reconstructed in Kastoria
Athens, 02/07/1997 (ANA)
A life-size scale of a Neolithic lake village on piles will be
set up near the northern city of Kastoria in about two years.
In a ceremony yesterday, University of Thessaloniki archaeology
professor Georgios Hourmouziadis presented a model of the
reconstructed settlement to the press and Macedonia-Thrace
Minister Philippos Petsalnikos.
Prof. Hourmouziadis said the Neolithic village would be based on
excavation findings from Dispilio, and set up 150 meters from
this site to allow visitors to see how people lived 6,000 years
ago.
The project will be funded by the European Union's "Life
Program", as well as by state and local funds and include
several aspects from village life of the Neolithic era.
[17] Halkidiki first in 'Blue Flags'
Athens, 02/07/1997 (ANA)
Halkidiki prefecture in northern Greece has the most beaches in
Greece given the "Blue Flag" distinction for the fourth
consecutive year.
The "Blue flags" were awarded to 41 beaches in Halkidiki this
year, five more than last year, while a "Blue Flag" was also
awarded to the Porto Carras Marina.
The Dodecanese prefecture came in second with 35 "Blue Flags",
followed by Magnisia with 27, Lasithi 26, Corfu 22, the Cyclades
and Lesvos with 14 and Pieria prefecture 13.
The competition is conducted every year by the Environmental
Training Foundation of Europe, while in Greece it is sponsored
by the Greek Society for the Protection of Nature.
Awards will be officially made at the end of the fourth
Ecological Conference in Halkidiki, which starts on July 4.
[18] Anthony Quinn received by V. Papandreou
Athens, 02/07/1997 (ANA)
Development Minister Vasso Papandreou met yesterday with
renowned Hollywood actor Anthony Quinn, who is currently
visiting Greece.
"I want to thank him for all he has done and said about Greece,
and I hope he will continue to contribute to our country through
his films," Ms Papandreou said.
She said they did not discuss the issue of his property on
Rhodes, under dispute, and said the finance ministry would reply
on the issue shortly.
Mr. Quinn had referred to problems he had with the property and
expressed the hope it would be resolved.
"Despite the fact we come from different countries with
different cultures, Ms Papandreou and I both love Greek
culture," Mr. Quinn said.
He added, "I believe in reincarnation and have lived many lives,
many of them in Greece, and I shall return to it again. In
America, most believe that I'm Greek, and perhaps I do have
Greek blood in me."
[19] Summer sales season begins
Athens, 02/07/1997 (ANA)
Summer sales began officially yesterday and will run to August
30.
Price slashing depends on the sector, ranging for example 30-50
per cent for electronic equipment, 10-20 per cent for linen,
with the rest around 25 per cent.
The consumer service of the development ministry warned buyers
to compare prices and qualities before purchasing, while
consumer groups added that consumers should not become
enthusiastic about large price cuts, since they usually concern
a very small n umber of goods available in a specific store.
Goods bought during sales are not returnable, and if a merchant
insists they can be changed, this should be guaranteed in
writing.
[20] Registry for mail order, telephone sales firms
Athens, 02/07/1997 (ANA)
The development ministry announced yesterday that it will
require compulsory registration for firms active in the sector
of telephone or mail order sales.
According to a ministry decision, all firms that have already
concluded such long-distance sales must be registered in a
suppliers' register by Aug. 16.
The register will include a supplier's serial number, name,
address, telephone number and fax number as well as a concise
description of the goods the firm intends to sell, such as
electrical household appliances, furniture, books, etc.
[21] Bulgarian approval for new border bridge
Sofia, 02/071997 (BTA/ANA)
The Bulgarian cabinet yesterday authorized the Regional
Development and Public Works Minister to sign the
Bulgarian-Greek accord on the construction of a new
border-crossing bridge at the Koulata-Promahonas border
checkpoint.
[22] Athens Stock Exchange, FTSE Int'l present new index
Athens, 02/07/1997 (ANA)
Greece's bourse will acquire a new index on September 24 devised
by FTSE International and the Athens Stock Exchange (ASE), in
order to lure more international investors into the market.
Running parallel to the bourse's existing general share index,
the new gauge is based on 20 of the largest and most liquid
stocks, officials of the two companies told a news conference.
"The new FTSE/ASE 20 index is an important step in developing
the Athens market," bourse chairman Manolis Xanthakis said.
FTSE International, which is jointly owned by the Financial
Times and the London Stock Exchange, was set up to manage and
develop equity and bond indices. Its best-known index is
Britain's FTSE 100.
Due to be calculated and operated by the bourse, the Athens
index has been designed to support derivative trading when
legislation allowing a secondary market is passed. FTSE
International will mirror calculation and act as auditors.
The share composition of the FTSE/ASE 20 will accurately track
the movement of the bourse, the only emerging market in the
European Union.
The index is likely to be used for performance measurement,
benchmarking, and as a basis for index tracking funds.
An independent advisory committee comprising representatives of
ASE, the Greek investment community, international fund
managers, and FTSE International has agreed the index's design,
the ground rules for operation and its initial constituents.
"It is particularly exciting to be able to work with the Athens
Stock Exchange. Throughout Europe a new equity investor culture
is growing in every country, while investors seek opportunities
further and further afield," FTSE International's managing di
rector Mark Makepeace said.
FTSE International indices have published ground rules and are
managed by independent advisory committees in order to ensure
independence and transparency.
[23] Greek economy in non-inflationary growth course, Alpha survey
Athens, 02/07/1997 (ANA)
The Greek economy is entering a period of lower inflation and
interest rates with relatively strong growth, according to the
latest survey on the short-term economic and financial outlook
by Alpha Credit Bank. The survey indicates that nominal
convergence indicators have started approaching those in the
other countries of the European Union, raising the probability
that Greece will be amongst the second group of countries
entering European Monetary Union (EMU) from January 2001.
This tends to boost market confidence as well as to strengthen
the resolve of economic policy makers in pursuing EMU
objectives, it added.
The bullish sentiment in the Athens Stock Exchange continues for
a fifth month in a row, with the market stabilized around 1700,
having weathered well the overshooting of the all-times-high of
1684 registered in 1990. Since the beginning of the year, growth
mutual funds assets have grown by 90 per cent.
Foreign investors have returned to the market, which ranked in
May among the best performing markets in the world, the survey
said.
[24] Domestic air fares, postage prices rise
Athens, 02/07/1997 (ANA)
Postage stamp prices will increase by 13 to 25 per cent, the
Hellenic Post Office said in a statement. Among the price rises
are telegrams, domestic letters and parcel services.
Olympic Airways, the national carrier, was expected to announce
a six percent rise in domestic air fares later in the day.
[25] Stock prices move up in light trade
Athens, 02/07/1997 (ANA)
Stock prices ended slightly higher on the Athens Stock Exchange
led by banks and Hellenic Telecommunications Organization (OTE).
The general index closed 0.43 per cent higher at 1,525.07 points
with most sector indices scoring gains. Trading was light on
turnover of 11.9 billion drachmas.
Banks rose 0.87 percent, Leasing was 0.96 percent up, Investment
ended 0.19 percent higher, Holding moved 0.16 percent up,
Miscellaneous rose 0.54 percent. Insurance fell 2.01 percent,
Industrials were 0.02 percent off and Construction eased 1.07
percent.
The Parallel Market for smaller cap stocks dropped 1.20 percent.
OTE's share price continued its recovery to end at 6,500, up 50
drachmas. Broadly, decliners led advancers by 106 to 98 with
another 25 issues unchanged. Delta Dairies, Britannia, and
Faliro Medical Center scored the biggest percentage gains, while
Macedonian Plastics, Demetriades and Macedonian Mills suffered
the heaviest losses of the day.
National Bank of Greece ended at 33,760 drachmas, Ergobank at
16,700 and Alpha Credit at 18,800.
[26] Stalemate in talks over civil aviation work stoppages
Athens, 02/07/1997 (ANA)
Talks between Greek civil aviation workers and the government
aimed at averting a series of strikes ended in deadlock although
the stoppages are not expected to disrupt flights.
Workers at the Civil Aviation Authority (OSYPA) disagreed with
Transport and Communications Minister Haris Kastanidis over
CAA's legal status and demanded immediate payment for overtime
work delayed since the start of the year.
The ministry has said the stoppages will have no impact on
flights since air traffic controllers and electronics staff will
remain on the job.
[27] Public Power Corporation procurement policy progress
Athens, 02/07/1997 (ANA)
Public Power Corporation (DEH) has signed 100 billion drachmas
worth of contracts since January 1 as part of its policy of
making long-term contracts with suppliers and bypassing tenders,
government spokesman Dimitris Reppas said.
Mr. Reppas told journalists that DEI was expected to sign a
total of 250 billion drachmas worth of contracts by the end of
the year.
[28] Sixth straight win for Greece at EuroBasketball Championship
Girona, 02/07/1997 (ANA - D. Efstathiou)
The Greek men's national basketball team won its sixth
consecutive match in as many games at the EuroBasketball
Championship yesterday, beating Israel 85-82 in a second round
match.
The Greek team was losing 48-44 at half time.
The Greek team, which came first in Group Five, will play Poland
in the quarter finals, which won fourth place in Group Six.
Poland beat Germany 86-76 in its last match in the second round
yesterday.
Greece's match with Poland will be played in Barcelona at 5 p.m.
on Friday.
End of English language section.
|