Athens News Agency: Daily News Bulletin in English, 97-07-12
From: The Greek Press & Information Office, Ottawa Canada <grnewsca@sympatico.ca>
ATHENS NEWS AGENCY BULLETIN (No 1235), July 12, 1997
Greek Press & Information Office
Ottawa, Canada
E-Mail Address: grnewsca@sympatico.ca
CONTENTS
[01] Cabinet unanimously endorses Madrid communiqui
[02] Gov't spokesman
[03] Opposition criticism to joint communiqui increases
[04] Brademas comments on Greek-Turkish accord
[05] Kranidiotis to tour Middle East
[06] Greek-Turkish friendship committee in Turkish National Assembly
[07] Turkey not ready for accession talks, EU report states
[08] Simitis-Tzoumakas phone discussion focuses on Seikh Sou
[09] Seikh Sou torching brings Israeli offer of assistance
[10] Fires near Florina, Xilokastro under control
[11] Pangalos attends Israeli-Palestinian meeting near Athens
[12] Greek institute to open in Tbilisi
[13] IOC's Stankovic in Athens
[14] Greek ambassador holds talks in Podgorica
[15] Renewable Energy Sources conference in Thessaloniki
[16] Aerospace medicine makes its debut in Athens
[17] SEB, Gov't to organize Euro-Mediterranean Industrial Conference
[18] GSEE leader satisfied with social dialogue
[19] Laliotis approves funds for projects
[20] Tourism study claims drachma devaluation would increase arrivals
[21] Latest development plan for eastern Macedonia, Thrace announced
[22] Funding for second section of Patra port allocated
[23] OTE telephony revenues increase
[24] Silver and Baryte investment in Bulgarian mines
[25] Greek stocks end higher, reach for 1,600 pt.
[26] Greece helps Cyprus expand its EU business presence
[27] Poor regions protected in EU expansion plans
[01] Cabinet unanimously endorses Madrid communiqui
Athens, 12/77/1997 (ANA)
Prime Minister Costas Simitis briefed the Cabinet during a
four-and-a-half hour meeting yesterday on the joint communiqui
issued by Greece and Turkey regarding bilateral relations.
Mr. Simitis told reporters that "everything went very well,"
noting unanimity on what was decided.
The premier said he had explained in detail the policy followed
in Madrid, adding that it simply marked "the beginning of a path
which will be very long and difficult."
All the ministers attending the Cabinet meeting had the
opportunity to express their views on the communiqui, Mr.
Simitis said, while the prime minister added that the road to
peace and to a strong Greece would be difficult.
"In Madrid we took the first step," he said.
Echoing the premier's comments, National Defense Minister Akis
Tsohatzopoulos also said "every-thing went well" and that there
had been no objections.
The communiqui was issued after talks between Mr. Simitis and
Turkish President Suleyman Demirel on the sidelines of the NATO
summit in Madrid on Tuesday.
Mr. Simitis has described the communiqui as a document of
principles which will govern relations between Greece and Turkey.
[02] Gov't spokesman
Athens, 12/77/1997 (ANA)
The content of the joint communiqui met with unanimous approval
from Cabinet members in yesterday's meeting, according to
government spokesman Dimitris Reppas.
Nevertheless, he said that although Education Minister
Gerassimos Arsenis noted that before the communiqui was issued,
it should have been discussed by the Cabinet, he did not
question confidence in the government or ask for the
communiqui's retraction.
Mr. Tsohatzopoulos also declared there had been agreement within
the Cabinet on the issue.
Mr. Reppas noted that the defense minister had told Cabinet that
in fact, policy had not changed and that the government's
positions were compatible with its policy statement.
That policy, Mr. Reppas added, was aimed at peace, security and
good neighborly relations. Thus, the government was assuming
initiatives, on the condition that international treaties were
respected. "Nothing was discussed (in Madrid) which is not
contained in the text of the communiqui, nor can there be an
interpretation on the contrary," he stressed, adding that
adherence to the text could positively influence processes which
are already in motion (experts' committee on bilateral relations
and dialogue on confidence-building measures within the
framework of NATO).
Meanwhile, the spokesman also emphasized that Greece's proposals
for a step by step approach to bilateral issues (such as the
continental shelf and the Imia islet) still held.
There was no political dialogue on all issues with Turkey, he
added. With regard to yesterday's Cabinet meeting, the
government spo-kesman said the discussion had been interesting,
useful and of a high standard, while it had been agreed that
Greece should undertake initiatives.
Mr. Reppas said the Cabinet meeting also touched in an indirect
way on opposition to the communiqui voiced by 22 PASOK deputies.
The 22 deputies on Thursday reacted strongly to the communiqui,
saying Greece was "gradually slipping into choices that result
in recognition of Turkish claims, legalization of Ankara's
expansionistic status and an expiation of its policies."
Mr. Reppas, who said the criticism did not reflect the truth,
echoed the views which have been voiced earlier in the meeting,
when he said that such actions could create difficulties for
foreign policy.
The party's political secretariat is considering the issue, Mr.
Reppas added.
Asked to comment on Athens FIR violations by Turkish aircraft on
Thursday, Mr. Reppas said this was an indication that the
normalization of Greek-Turkish relations would not be without
problems.
Quizzed as to whether it was likely that an agreement to refer
the dispute of the Aegean continental shelf to arbitration would
be signed by the experts' committee, Mr. Reppas said there was
an on-going process.
"We are waiting for the Turkish experts to answer to the second
Greek memo. Then, either it will be the end of the first round,
or else an agreement will be reached for further discussion of
procedural issues," he said.
Speaking to reporters, meanwhile, in Thessaloniki, Interior
Under-secretary Tassos Mantelis said that those who had
expressed disagreement with the Madrid communiqui would
eventually be convinced of its importance.
Focusing on six fundamental principles designed to ease
tensions, the communiqui aims at restoring bilateral relations
between the two countries.
The agreement calls for respect for each other's sovereignty,
international law and treaties and resolution of disputes
through peaceful means.
[03] Opposition criticism to joint communiqui increases
Athens, 12/77/1997 (ANA)
Discussion at yesterday's Cabinet meeting and statements by Mr.
Simitis and government spokesman Reppas on the joint communiqui
apparently failed to satisfy the opposition which, with latest
statements, is requesting additional information and dialogue.
The main opposition New Democracy party again requested through
party spokesman Aris Spiliotopoulos, "briefing for the Greek
people" by the government on the formalities and the conditions
of the Greek-Turkish communiqui's issuance in Madrid.
The Coalition of the Left and Progress and the Democratic Social
Movement (DHKKI) insist on an extraordinary parliamentary
plenary session as well as of a meeting of the party leaders
council.
On its part, the Political Spring party is continuing its attack
on the government over the communiqui, as well as directing
criticism at the Cabinet meeting.
"The prime minister and the government are continuing to remain
silent on issues we raised. This means that either they want to
conceal substantive aspects of the document of principles which
was signed in Madrid, or that they are unprecedently unable to
reply," Mr. Spiliotopoulos said.
Having repeatedly expressed support for Greek-Turkish dialogue,
Synaspismos, through its leader Nikos Constantopoulos, sees an
agreement which can be utilized in the Madrid communiqui and
which will be judged politically and historically by "where and
how it will be promoted."
He said the prime minister is obliged to brief Parliament
immediately and convene the party leaders council on the content
of the agreements, discussions which were held beforehand and
the moves which will follow.
DHKKI, which disagreed with the communiqui from the very
beginning, claiming that it opens Greece's sovereign rights in
the Aegean to dispute and paves the way for its future joint
sovereignty and partitioning, raised the issue again yesterday,
calling in turn for "briefing for the parties and the Greek
people on the content of the agreement."
[04] Brademas comments on Greek-Turkish accord
London, 12/7/1997 (ANA-L.Tsirogotakis)
Former US Senator John Brademas yesterday hailed the six-point
agreement signed between Greece and Turkey on the sidelines of
the NATO summit in Madrid, as the first step in the right
direction.
"It is much better that the two governments are beginning a
constructive dialogue than engaging in tit-for-tat rhetoric,"
Mr. Brademas, who is US President Bill Clinton's advisor on
social and cultural issues, told representatives of the Greek
Cypriot community in London.
Mr. Brademas, who was delivering an address on US foreign policy
and the role of Congress in the Cyprus problem, said the
agreement, aimed at restoring relations between Greece and
Turkey, could have a positive contribution to UN-sponsored
face-to-face talks currently held in New York between Cypriot
President Glafcos Clerides and Turkish Cypriot leader Rauf
Denktash.
The former senator said the Cyprus problem was one of the major
priorities at the White House, pointing out the recent
appointment of Richard Holbrooke as US envoy on Cyprus.
"Bill Clinton is the first US President since Lyndon Johnson to
show concern and make an effort towards finding settlement to
the Cyprus problem," he said.
The European Union, the tremendous economic cost of sustaining
the military occupation in Cyprus and the pressure being put by
Turkish businessmen on their government will help improve
Greek-Turkish relations and resolve the Cyprus issue, he added.
[05] Kranidiotis to tour Middle East
Athens, 12/77/1997 (ANA)
Foreign Under-secretary Yiannos Kranidiotis will tour a series
of Middle East capitals from July 15 to 20 "in the framework of
Greece's desire to engage more actively in the Mideast peace
process, both in the framework of EU initiatives as well as on a
bilateral basis," a foreign ministry announcement said yesterday.
Mr. Kranidiotis will successively visit Cairo, Alexandria,
Beirut, Damascus and Amman, for talks with government officials.
His visits also aim at upgrading bilateral relations with these
countries, the announcement added. Mr. Kranidiotis will also
meet church officials and representatives of the ethnic Greek
communities.
[06] Greek-Turkish friendship committee in Turkish National Assembly
Istanbul, 12/7/1997 (ANA)
A Greek -Turkish Friendship Committee has been established in
the Turkish National Assembly, Anatolia news agency said
yesterday.
Head of the Committee and Democratic Left party deputy, Hakan
Tartan, said the Greek-Turkish Friendship Committee aimed at
establishing dialogue, and "permanent peace and love" between
the two countries and would focus on political as well as social
activities.
"It is obvious that the problems and tensions between the two
countries cannot be resolved through unilateral efforts," Mr.
Tartan said.
"Such efforts should be mutual," he added.
[07] Turkey not ready for accession talks, EU report states
Brussels, 12/7/1997 (ANA - M. Spinthourakis)
Turkey's political and economic state at present does not allow
for the opening of accession negotiations leading to European
Union membership, according to the "Agenda 2000" report.
Agenda 2000 is the as yet unreleased report by the EU committee
on expansion, which is expected to be presented to the European
Parliament on Wednesday.
In referring to Turkey, the report says that despite the fact
that it satisfies the standard features of a democracy, such as
an elected government and a Parliament, Turkish administration
cannot guarantee its adaptation to EU acquis, at least at
present.
In the first such reference in an official community text, the
report also makes reference to the role played by the military
in Turkey, saying that the role it played in the political and
cultural system of Turkey is not the same as that played by
armed forces in western democracies and societies.
In terms of Greek-Turkish differences, the report mentions that
tension in the Aegean can be overcome on the basis of
international law and recourse to arbitration bodies, such as
the International Court at The Hague.
It also refers to the importance of Turkey's building good
neighborly relations with Greece, rejecting every use of
violence in solving differences and activating itself in order
to find a permanent and just solution to the Cyprus issue,
according to United Nations resolutions.
[08] Simitis-Tzoumakas phone discussion focuses on Seikh Sou
Athens, 12/77/1997 (ANA)
Prime Minister Costas Simitis had a telephone conversation with
Agriculture Minister Stephanos Tzoumakas yesterday concerning
the massive fire at the Seikh Sou forest in Thessaloniki.
Government spokesman Dimitris Reppas said there will be further
consultations over the resignation of forestry Secretary-General
Beriatos, while the issue will be settled in accordance with the
allocation of responsibilities.
Addressing a Cabinet meeting yesterday, Mr. Simitis advised
ministers not to express their views publicly and give the
impression of confrontations and, as Mr. Reppas stated, he
referred in general to the issue of government officials'
attitude in public on the occasion of the handling of the forest
fires issue.
Additionally, Mr. Reppas said Mr. Simitis announced to ministers
that a cabinet meeting will be held on Aug. 1 and again on the
first Friday after Aug. 20. In the meantime, he said, the
government ministers can take their summer vacations.
[09] Seikh Sou torching brings Israeli offer of assistance
Athens, 12/77/1997 (ANA)
The Israeli government advised Athens yesterday that it was
willing to provide technical assistance in the project, offering
to share its own experience in the reforestation and
rehabilitation of devastated lands.
The offer was conveyed through Israeli ambassador to Athens, Ran
Kuriel, to officials of the agriculture ministry.
Yesterday, Agriculture Under-secretary Vassilis Geranidis
announced additional measures for the reforestation of Seikh
Sou, rejecting all responsibility pertaining to firefighting
efforts, saying he was only responsible for fisheries and
stockbreeding issues.
Mr. Geranidis said the measures include setting up a special
task group to draw up a reforestation plan within the next 10
days.
[10] Fires near Florina, Xilokastro under control
Athens, 12/77/1997 (ANA)
A forest very close to the northern border city of Florina
caught on fire yesterday afternoon and was put under control
after burning close to 30 hectares of forestland.
The same area had been burned in 1988.
The local forestry department believes the blaze was a result of
arson.
A forest fire that broke out near Xilokastro on Thursday was
brought under control yesterday after destroying 300,000 sq. m.
of farm and forest land.
[11] Pangalos attends Israeli-Palestinian meeting near Athens
Athens, 12/77/1997 (ANA)
Foreign Minister Theodoros Pangalos yesterday called on Israelis
and Palestinians to continue efforts for understanding each
other's views in the Middle East peace process.
Mr. Pangalos was addressing the end of a three-day, non-binding
meeting between Israeli and Palestinian personalities, which was
held at the Athens seaside district of Vouliagmeni following a
Greek foreign ministry initiative.
He expressed regret, however, that the gathering did not produce
a joint communiqui, calling on both delegations to continue
their efforts before they leave.
"A basic condition for any development, especially for a
solution to complicated problems, is the continuous effort to
understand the views of the other side," he said.
The non-binding meeting between the two sides began in
Vouliagmeni on Wednesday. It was the product of a recent tour of
the Middle East by Mr. Pangalos and Foreign Under-secretary
Yiannos Kranidiotis.
The meeting brought together academics, official representatives
and other personalities from Israel and the Palestinian
Self-Rule Areas.
The inability to issue a joint communiqui was due, in part, to
the Israeli side's desire for a simple reference supporting the
continuation of the peace process, since the meeting was
unofficial. On the other hand, the Palestinian side wanted to
include specific references detailing what they view as causes
leading to the impasse in the peace process, as well as the need
to include a reference calling for an end to the building of
Israeli settlements in the West Bank.
Mr. Pangalos referred to the problems in the peace process at
this time and noted that tension in the area made the
Vouliagmeni meeting even more useful and timely.
Greece has a long-standing and consistent policy of friendship
and co-operation with both the Israeli and Palestinian people,
he said.
It is not worthy of our history and culture to be unable to find
a solution to the problems we face, and prolonging the tension
in the Middle East is harmful to all, Mr. Pangalos added.
The meeting was coordinated by Theodoros Kouloumbis, a
university professor and president of the Hellenic Foundation
for Foreign and Defense Policy (ELIAMEP).
[12] Greek institute to open in Tbilisi
Athens, 12/77/1997 (ANA)
An Institute for Ancient Greek, Byzantine and Modern Greek
Studies is due to open after the summer in Tbilisi, it was
announced yesterday.
The Institute, to be housed in one of the most elegant buildings
in the center of Georgia's capital, has been founded in
co-operation with the Greek authorities and Georgia's scientific
community.
[13] IOC's Stankovic in Athens
Athens, 12/77/1997 (ANA)
"I am certain that if Athens stages the 2004 Olympic Games, they
will be exceptional games for both the athletes and spectators,"
FIBA Secretary General and International Olympic Committee (IOC)
member Borislav Stankovic said here yesterday.
Mr. Stankovic arrived in Greece in an official capacity on
Thursday to gain a first-hand opinion of Athens' bid to stage
the 2004 Olympics. "I was very pleased with the presentation
given to me by the Bid Committee. I think it was one of the best
presentations I have ever had," Mr. Stankovic said.
Commenting on Athens' bid dossier, Mr. Stankovic said it was
characterized by great attention to detail.
"In particular, the sports facilities and technical
specifications are first class and the plan of the Olympic
Village excellent," he said.
[14] Greek ambassador holds talks in Podgorica
Belgrade, 12/7/1997 (ANA - M. Mouratidis)
The Greek ambassador to the Federal Republic of Yugoslavia,
Panayiotis Vlassopoulos, concluded a two-day visit to Podgorica,
the capital of Montenegro.
Mr. Vlassopoulos held talks with government officials and
opposition representatives both on bilateral issues and issues
concerning the Yugoslav Federation and the current political
crisis in the ranks of Montenegro's ruling Democratic Socialist
Party.
The Greek ambassador was accompanied by the commercial attachi,
Ch. Farmakis.
[15] Renewable Energy Sources conference in Thessaloniki
Athens, 12/77/1997 (ANA)
The utilization of Renewable Energy Sources (RES) is expected to
produce spectacular results in supporting employment and
regional development.
According to European Union studies presented in Thessaloniki
yesterday by Interior, Public Administration and
Decentralization UN-dersecretary Tassos Mantelis, the
development of RESs provides five times more jobs compared to
conventional fuels.
Speaking at a press conference on the occasion of a conference
on the issue of "Renewable Energy Sources: New Opportunities for
Development and Employment", held at the Thermi Cultural Center
in Thessaloniki, Mr. Mantelis underlined this dimension of RES
development, adding that the creation of new jobs primarily
concerns non-urban areas where unemployment is at high levels.
On the question of urban regions, its effects can also be
positive in this direction there if bioclimatic architecture is
implemented.
Providing analytical data on the EU, Mr. Mantelis said RES
contribute at present to the European Energy balance with a
percentage of about 5.5 per cent, which is estimated as
corresponding to about 110,000 jobs. Some 35,000 of these are
direct jobs concerning building and installing, while in this
sector 700 small and average-size enterprises are active. The
target is to increase this figure to 12 per cent by the year
2010, thus creating about 600,000 new jobs.
According to estimates by the "Group for the dissemination of
RES", presided over by Mr. Mantelis, if the above target is
achieved, 20 to 30,000 new jobs will be created in Greece, a
figure equal to about 1 per cent of the country's labor force.
Mr. Mantelis referred to the United States as an example where
the implementation of energy saving programs led to the creation
of 80,000 new jobs in 1992.
[16] Aerospace medicine makes its debut in Athens
Athens, 12/77/1997 (ANA)
Olympic Airways will begin distributing brochures on precautions
to be taken for passengers in special health categories, it was
announced yesterday.
The airline will distribute them on all flights, to warn
pregnant women and people with high blood pressure, heart
problems and respiratory ailments about health problems they may
encounter while on flight.
The initiative was announced during a press conference yesterday
by the newly-founded Hellenic Society for Aerospace Medicine,
where it was noted that of over one billion people traveling
throughout the world annually, 25,000-30,000 present health
problems during flights, such as nausea, extreme perspiration,
dyspnoea and chest pains. Between the years 1977 and 1984, it
said, 500 passengers died in-flight.
Society president Chryssoula Kourtidou-Papadelis, a doctor
specializing in pulmonary medicine, presented the new
association and said it would host the first congress of
aerospace medicine in Thessaloniki from Oct. 10 to 12.
The congress will be held under the auspices of the Thessaloniki
Cultural Capital Organization and participants will include
Russian cosmonaut and physician Valerio Poliakov and two
astronauts from the United States.
[17] SEB, Gov't to organize Euro-Mediterranean Industrial Conference
Athens, 12/77/1997 (ANA)
The Federation of Greek Industries (SEB) has undertaken to
organize the third Euro-Mediterranean Industrial Conference in
co-operation with the development ministry and with support from
the Union of Employers and Industrial Federations of Europe
(UNICE).
The Euro-Mediterranean Conference, due to be held in Athens on
Oct. 6-7, is aimed at shaping positions on issues concerning
Mediterranean industry, such as foreign investments and trade,
modernization of small- and medium-size enterprises, energy as
well as the environment, infrastructures, education and training.
Conclusions to be reached at the conference will be presented by
SEB's president and representatives of the European industrial
federations at the corresponding session of industry ministers
from the European Union and southern Mediterranean countries, to
be held on Oct. 30-31.
[18] GSEE leader satisfied with social dialogue
Athens, 12/77/1997 (ANA)
General Confederation of Workers of Greece President Christos
Polyzogopoulos yesterday said he was satisfied with the course
of the social dialogue.
Speaking to reporters in Thessaloniki, Mr. Polyzogopoulos said
the workers' representatives had managed to raise all crucial
issues during the first phase of talks, while leaving out those
issues which were of least interest to them.
Mr. Polyzogopoulos emphasized the efforts by GSEE in assisting
towards a positive outcome.
[19] Laliotis approves funds for projects
Athens, 12/77/1997 (ANA)
A total of 3.5 billion drachmas was approved by the Environment,
Town Planning and Public Works minister Costas Laliotis
yesterday for road, flood prevention and sewage projects.
The projects are in the prefectures of Thesprotia, Fokida, Arta,
Ioannina and Preveza. A sewage project concerns a drain pipe for
flood waters in the general area of Voula, Attica prefecture.
[20] Tourism study claims drachma devaluation would increase arrivals
Athens, 12/77/1997 (ANA)
The drachma should be partly devalued against the currencies of
Italy, Portugal and Spain, if the downward trend in tourist
arrivals to Greece is to be reversed, according to the Institute
for Tourism Research and Forecasts (ITEP).
In a report on foreign exchange policy and its repercussions on
tourism, which was released yesterday, ITEP attributed the drop
in tourist arrivals to what it called the overvaluation of the
drachma against the currencies of Greece's EU rivals in the
sector.
ITEP claimed that a possible devaluation of the drachma by 10
per cent would increase arrivals by 10.33 per cent.
According to ITEP, reduced arrivals during the 1992-1995 period
resulted in a loss of income for the nation calculated at US$2.5
billion dollars, as well as a loss in jobs.
The report also listed a series of favorable prospects of
development for Greek tourism, as long as the nation's sector
took advantage of opportunities offered by the improved economy
of eastern European states, along with improving its
infrastructure and adopting a more flexible foreign currency
policy. If these goals are met, the report stated, tourist
arrivals will rise to between 11 to 12.6 million by 2000 and 14
to 14.9 million in 2005.
[21] Latest development plan for eastern Macedonia, Thrace announced
Athens, 12/77/1997 (ANA)
New eastern Macedonia and Thrace regional governor Stavros
Kambelis announced a 10-year plan for the development of the
region during a press conference in Komotini yesterday.
"It will be a plan for the development of the region, for the
principles and targets in all sectors of political and cultural
life," he said.
Resources will be obtained from national and EU funds to
implement the 10-year development plan, which will cover the
entire spectrum of activities in the region of eastern Macedonia
and Thrace. Additionally, Mr. Kambelis will appeal to the
private sect or to also contribute.
[22] Funding for second section of Patra port allocated
Athens, 12/77/1997 (ANA)
By decision of Environment, Town Planning and Public Works
Minister Costas Laliotis, credits amounting to 7.5 billion
drachmas have been allocated for construction of the second
section of the new port in Patra.
The project includes construction of a 400-meter-long
breakwater, while the first section of the new port, budgeted at
13 billion drachmas, has already been awarded. This project
includes a breakwater some 900 meters long.
The port of Patra constitutes the western gateway of the
country, and is jointly funded by the European Union's INTERREG
II program.
[23] OTE telephony revenues increase
Athens, 12/77/1997 (ANA)
Revenues of the Hellenic Telecommunications Organization (OTE)
increased by 14.95 per cent in the second two-month period of
1997 compared to the corresponding period last year.
Telephone calls increased by 16.16 per cent over the same period
compared to last year, the utility announced.
Revenues from telephony increased 14.12 per cent over the first
two months of the year - January and February.
[24] Silver and Baryte investment in Bulgarian mines
Athens, 12/77/1997 (ANA)
A new joint company was formed between Greece's Silver and
Baryte, its subsidiary in Bulgaria Gramex, and Gramex's other
owner, Royal Gold, to carry out gold and copper prospecting in
two areas of the neighboring country.
The new company is named Sofia Mineral Ltd., or SOMIN, and is
also partially owned by Phelps Dodge.
One area is in southeast Bulgaria and covers 2,645 sq. km, while
the other, in the northern part of the country, covers 600 sq.
km, close to the Chelopec company's copper and gold mines.
[25] Greek stocks end higher, reach for 1,600 pt.
Athens, 12/77/1997 (ANA)
Greek equities ended the week higher, propelling the general
index towards the 1,600 psychological level once more.
The share index closed 1.02 percent higher at 1,591.44 points,
reflecting major gains in the banking and industrial sectors, up
0.88 and 1.87 percent respectively. The market showed a 5.10
percent gain on the week.
Trading was moderate and turnover was 13.6 billion drachmas.
Most other sector indices scored gains. Leasing was 1.56 percent
up, Insurance rose 0.41 percent, Investment increased 1.02
percent, Construction rose 0.64 percent, Miscellaneous jumped
2.40 percent, but Holding bucked the trend to end 0.38 percent
down .
The small cap index eased 0.59 percent.
Broadly, advancers led decliners by 131 to 73 with another 29
issues unchanged.
Klonatex, Benroubi, Parnassos and Demetriades scored the biggest
percentage gains, while Papastratos, Ionian Hotels and Bank of
Central Greece suffered the heaviest losses of the day.
National Bank of Greece ended at 35,885 drachmas, Ergobank at
17,740, Alpha Credit Bank at 19,005, Titan Cement at 15,150,
Intracom at 13,290 and Hellenic Telecommunications Organization
at 6,440 drachmas.
[26] Greece helps Cyprus expand its EU business presence
Athens, 12/77/1997 (ANA)
Greece can help Cyprus to expand its business presence in the
European Union until the island, which already has customs union
with the 15-nation bloc, gains full membership.
"Greece is a key base to develop activities by Cypriot firms in
the broader European economic area. Its presence and experience
in EU countries can aid Cypriot business decisively," Greece's
economic and commercial attachi in Nicosia Chrysanthi Passadi,
said.
Athens has worked hard on a political and diplomatic level to
promote Cyprus' entry into the EU, and talks with Brussels on
full membership are due to begin by early next year.
"Greece's assistance can help Cypriot firms to secure easier
access for their products and services in Community markets,
maximize the benefits, and better utilize the advantages," Ms.
Passadi told the Athens News Agency in an interview.
Greece ranks fourth among countries exporting to Cyprus,
accounting for 7.21 percent of the value of the island
republic's imports in 1996 against 7.18 percent in 1995 and 6.81
percent in 1994.
Trade between the two countries has marked a rising trend in
recent years, totaling 171.6 million Cyprus pounds in 1996 from
153.4 million in 1995, and 136.9 million in 1994, Ms. Passadi
said.
Cypriot exports to Greece, the island's fourth largest foreign
market, were 37.6 million Cyprus pounds in 1996 from 33.4
million a year earlier.
Athens and Nicosia were keen to encourage strategic corporate
alliances between firms of the two countries through bilateral
agreements, Ms. Passadi said. A co-operation memorandum signed
in 1996 by Greece's national economy ministry and the Cypriot
planning bureau-finance ministry had been expanded in order to
step up contacts and alliances, she said. Broader economic ties
also were growing in the sectors of agriculture, transport,
tourism, banking and other services.
Co-operation between the two countries' stock exchanges was
likely to spur co-operation in finance, she said.
The goal was to develop a powerful Greek-Cypriot business
network equipped with organizational, institutional, technical
and financial back-up to enable firms to penetrate markets in
third countries by setting up consortiums, especially for
construction projects.
Cyprus, which has evolved into an international transit and
services centers, could help Greek enterprises to penetrate
Middle Eastern and African markets.
"The effort is a joint one, and only jointly can we meet the
challenge (of new international opportunities) with success,"
Ms. Passadi said.
[27] Poor regions protected in EU expansion plans
Brussels, 12/7/1997 (Reuter/ANA)
Poor regions of the European Union, mainly in Spain, Portugal,
Greece and Ireland, will continue to be eligible for up to 21
billion ECU's ($23.5 billion) in regional and other aid between
1999 and 2006, EU sources said yesterday.
They said that the 20 EU commissioners, meeting in secret
conclave on Thursday, agreed that member states whose gross
national product is less than 90 percent of the EU average will
continue to benefit even if they qualify for the EU single
currency.
Some powerful factions within the EU's executive commission had
tried to exclude Spain, Ireland and Portugal from the fund
because they are likely to meet criteria for joining the new
currency, the Euro, in 1999.
It was argued that if those countries were strong enough
financially to meet the tough single currency membership
conditions, they did not need special EU aid from the so-called
"cohesion fund".
But Spain and the other three countries warned they would block
any attempt to cut off the aid, saying that the terms for
economic and monetary union and the cohesion fund were separate
issues.
They received powerful support within the Commission from the
EU's social affairs and regional commissioners, Padraig Flynn
and Monica Wulf-Mathies, who swung support in favor of extending
the existing rules. But the aid level would be gradually
reduced. The future of the cohesion fund, which was set up in
1992 to help poorer regions catch up with the rest o f the EU,
was the main outstanding issue in plans to fund the EU's
expansion eastwards.
The plans are due to be agreed next Tuesday and presented to the
European Parliament in Strasbourg the following day.
The prospective first wave of new EU members -- Hungary, Poland,
the Czech Republic, Cyprus, Estonia and Slovenia -- would
benefit from 45 billion ECU's of regional, social and
agricultural aid between 1999-2006 to prepare for membership. ($
= 0.893 European Currency Units, ECU's)
End of English language section.
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