Athens News Agency: Daily News Bulletin in English, 97-09-09

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

ATHENS NEWS AGENCY BULLETIN (No 1284), September 9, 1997

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

CONTENTS

[01] Simitis visit to Albania likely soon

[02] Constantopoulos' visit to Albania

[03] Greece warns Turkey over Bosporus Straits

[04] ... Gov't spokesman

[05] G. Papandreou confers with OSCE commissioner van der Stoel

[06] G. Papandreou briefs ECHO director on NGOs draft bill

[07] Focus turns to organizational framework for 2004

[08] ... Gov't spokesman

[09] ... Labor reaction

[10] ... Congratulations continue to arrive

[11] ... Australia ready to help

[12] OECD says reforms must be accelerated for Greece to join EMU

[13] Greek condolences on death of Mother Teresa

[14] ND moves to improve Parliamentary presence

[15] Riccardo Muti to conduct La Scala orchestra in Thessaloniki

[16] Remainder U2 tickets on sale Thursday

[17] Kinkel says it's too early for Turkish EU membership

[18] Laliotis focuses on Greek construction firms' int'l prospects

[19] Papoutsis: Development, wider distribution of prosperity attainable

[20] Greek bourse celebrates Olympic Games award to Athens

[21] Athens Olympics to give Greek economy shot of adrenaline

[22] Hungary seeks closer trade relations with Greece

[23] Seminar on aluminium to be held at TIF

[24] EU to hold conference on internationalization of SMEs

[25] Trans-European Networks to boost European economy

[26] Mandela sends message for Thessaloniki int'l fair

[27] Tentative conclusions from study on Greek industry unveiled

[28] Ergo Investment profits

[29] GSEE, ADEDY comment PM's economic speech

[01] Simitis visit to Albania likely soon

Athens, 09/09/1997 (ANA)

"I hope that Mr. Simitis will visit Albanian in the autumn," Mr. Pangalos said.

Albanian Foreign Minister Paskal Milo is to visit Athens within the next few days, while President Rexhep Mejdani is also expected in Greece soon.

Mr. Pangalos said his talks with Mr. Gjinushi, who is on a three-day visit at the invitation of his Greek counterpart Apostolos Kaklamanis, centered on the reconstruction of the political system in the neighboring country and the economic situation there, as well as bilateral relations.

Mr. Gjinushi later met with President of the Republic Kostis Stephanopoulos and Mr. Kaklamanis.

Mr. Kaklamanis said the two discussed efforts for reconstruction, restoration of law and order, and the reform and modernization of the state's infrastructure as well as Tirana's new constitution and the situation of the ethnic Greek minority in Albania.

On his part, Mr. Kaklamanis stressed Athens' interest in individual and human rights for the ethnic Greek minority in the neighboring country.

Also on the agenda of talks was the presence in Greece of hundreds of thousands of Albanian illegal immigrants. The two men agreed on the need for the establishment of a standing legal framework which would enable the presence of the Albanian nationals to be a factor of good co-operation and relations between the two countries.

Mr. Kaklamanis also affirmed that Greece's Parliament was willing to assist the new Albanian Parliament with technical support. Mr. Gjinushi said Greece had proven itself by standing by Albania during its recent turmoil and had shown its interest by its immediate support of the new Albanian government.

He pledged that co-operation between the two parliaments would continue - both within the framework of Balkan and Black Sea organizations - so as to make Greek-Albanian relations an example for the rest of the region.

In addition, Mr. Gjinushi, who is accompanied by representatives of several Albanian parties, also met with Democratic Social Movement (DHKKI) leader Dimitris Tsovolas.

The latter said that respect of the rights of ethnic Greeks in Albania was a prerequisite for improving Greek-Albanian relations.

[02] Constantopoulos' visit to Albania

Athens, 09/09/1997 (ANA)

Mr. Constantopoulos stressed during the meeting that the deepening of relations between Greece and Albania and the upgrading of relations between the European Union and Albania is linked to the widening of democratic, social and economic conditions for the cohesion and development of Albanian society. He said the development of Albania is the best precondition for the future and creative role of the ethnic Greek minority, adding that the speedier and fuller settlement of the problem of economic refugees constitutes the content of sincere and creative friendship between the two peoples.

[03] Greece warns Turkey over Bosporus Straits

Athens, 09/09/1997 (ANA)

Mr. Tsohatzopoulos was responding to statements on Sunday by Turkish Foreign Minister Ismail Cem, who rejected a European Union proposal to take its differences with Greece to The Hague over Ankara dispute of Greek sovereignty over the islet of Imia.

Mr. Cem said instead, that Turkey would raise the issue of demilitarizing the Greek islands in the eastern Aegean.

Speaking at the Hellenic American Chamber of Commerce, Mr. Tsohatzopoulos said: "It would be best for Ankara not to touch the issue of demilitarization, because it would be very easy (for us) to bring the issue of demilitarizing the (Bosporus) Straits to the negotiating table, and the Turks know very well how very interested foreign powers are on this issue, following illicit actions and the checks conducted by Turkish authorities on foreign vessels passing through the Bosporus".

Referring to peace and security in the greater area, the defense minister criticized Turkey for what he said was the undermining of regional security institutions promoted by the international community.

Referring to other matters, Mr. Tsohatzopoulos said that state-owned defense companies would be transformed into sociitis anonymes and enter the Athens bourse in order to become more competitive on a European level.

"We are trying to build up our own armaments industry, to cover more than the 4 per cent of our defense needs, which are covered currently by our present infrastructure. We are on the way to having results in co-operation between state-owned businesses and the private sector in two years' time," Mr. Tsohatzopoulos explained.

[04] ... Gov't spokesman

Athens, 09/09/1997 (ANA)

"The problem is not Greek-Turkish but a more general fact that Turkey does not recognize the general jurisdiction of the Court at the Hague, which has been recognized by the whole of the civilized world," he said.

Also, referring to statements from Turkish Foreign Under-secretary Inal Batu yesterday, who criticized Prime Minister Costas Simitis' response that a Turkish attack on Cyprus would be cause for war, Mr. Reppas said the premier had outlined a clear position, reiterating the positions of Cypriot President Glafcos Clerides.

Mr. Batu had called Mr. Simitis' statements "irresponsible".

"Politicians must not say the word war so easily," he said, speaking to a private television station.

Mr. Batu, who is responsible for the department on Cyprus and Greece at the Turkish foreign ministry, also accused Athens of "creating the crisis with the Russian missiles on Cyprus."

"It is Greece that created the missiles crisis by encouraging the Greek Cypriots to purchase the Russian S-300 missiles," Mr. Batu added.

"Turkey will not allow these missiles to become an object of transaction for the normalization of Greek-Turkish relations," he said.

In reply, Mr. Reppas said: "We desire the full demilitarization of the island and in consequence we ask who is irresponsible and who is responsible. The one who wants demilitarization or the opposite? Irresponsible officials do not exist on the Greek side."

"The spirit of the Madrid communiqui (signed earlier this summer between Greece and Turkey in an effort to normalize relations between the two NATO allies) is alive but seeking a response from the Turkish side," Mr. Reppas said.

The extreme and provocative statements by Turkish officials such as Turkish Cypriot leader Rauf Denktash and Deputy Prime Minister Bulent Ecevit illustrate that the political leadership in Ankara does not coincide with what was signed by the President of Turkey Suleyman Demirel in Madrid," he added.

Avoiding casus belli concerns both countries, Mr. Reppas said, but in truth it was Turkey that had to change and adjust its foreign policy since Turkish officials spoke of bombings or attacks on Cyprus, statements which actually constitute acts of aggression.

Mr. Reppas said expert committees from both countries could still meet but that a scheduled meeting did not take place due to the negative climate created by the statements of Turkish officials such as Mr. Ecevit, "resulting in the two sides being unable to speak in good faith."

[05] G. Papandreou confers with OSCE commissioner van der Stoel

Athens, 09/09/1997 (ANA)

The minister also stated Greece's willingness to participate in peace efforts in Kosovo and to contribute towards any related initiative.

"We had the opportunity to review all the problems facing minorities in the Balkans. We began with Kosovo, and also discussed problems faced by ethnic Greek minorities, such as in Albania," Mr. Papandreou said after his meeting with Mr. van der Stoel.

With regard to a review of the Greek nationality code, he added: "This is something we have been discussing at the foreign ministry and when we are ready we will make an announcement."

The visiting OSCE commissioner also expressed interest in the problems faced by the Ecumenical Patriarchate in Istanbul, the Byzantine cathedral of Aghia Sophia and "a series of other issues which we consider are of the utmost importance for our country ," Mr. Papandreou said.

Mr. van der Stoel also meet later with Foreign Under-secretary Yiannos Kranidiotis for discussions on human rights, minorities as well as development and economic co-operation in the Balkans.

Mr. Kranidiotis also referred to Greek foreign policy issues and briefed Mr. van der Stoel on the Balkan summit scheduled for Crete on Nov. 3-4.

[06] G. Papandreou briefs ECHO director on NGOs draft bill

Athens, 09/09/1997 (ANA)

ECHO was established in 1992 and its humanitarian activities have increased sevenfold over the past six years. The organization is primarily active in the former Yugoslavia and Rwanda, as well as Angola, Sudan, Chechnya, Armenia, Georgia, Tadjikistan, Iraq, Cuba and Afghanistan. During 1995, 17 non-governmental organizations signed the draft agreement on a partnership relationship and the number of organizations cooperating reached 170. ECHO covers 80 per cent of the cost of each program.

[07] Focus turns to organizational framework for 2004

Athens, 09/09/1997 (ANA)

Sources said late yesterday that Prime Minister Costas Simitis has received a proposal for the establishment of an Olympic Games undersecretariat, which will have the general responsibility for the 2004 event.

Speaking to reporters earlier in the day, Mr. Fouras described what had to be done in the near future for the Games, and expressed appreciation for all those who had helped promote the success of Athens' bid.

Mr. Fouras said an agency to handle the organization of the Games, which Athens won on Saturday by decision of the International Olympic Committee (IOC), would be set up following meetings with Mr. Simitis.

The "institutional framework, and all bodies will be set up within one or two months," Mr. Fouras said, adding that "there will be a legal framework to provide the ability of minute supervision of the Games, guaranteeing transparency."

The other factor that helped the bid was "unity from all sides. I personally will castigate anybody who tries to break up this unity in the future," he said.

According to Mr. Fouras, IOC President Juan Antonio Samaranch had told him during his visit for the opening of the World Athletics Championships last month in Athens that "I am anxious about whether I shall be able to come to Greece again if you do not win the Olympic Games. Your greatest asset is the success of the opening ceremony for the championships".

Mr. Samaranch was re-elected to the presidency of the IOC during its weekend meeting on the bid for the 2004 Games.

[08] ... Gov't spokesman

Athens, 09/09/1997 (ANA)

Mr. Reppas said the decisions would take into account the positive work of the Athens 2004 bid committee.

The organizing committee, he added, would take the form of a sociiti anonyme (S.A.) and would place emphasis on transparent procedures.

Projects not directly connected to the Olympics, he added, would continue on the basis of the prevailing "effective, positive and satisfactory" legal framework. On his part, Alternate Foreign Minister George Papandreou yesterday said the "Santer package" of European Union-related aid should not be linked to the 2004 Olympic Games.

Replying to a press question on whether the European Union will be more favorable towards supporting Greece in order to secure the success of the 2004 Olympics, Mr. Papandreou said:

"The projects which we have scheduled are necessary for our country, whether or not we were awarded the Olympic Games. And this was one of the arguments which we had repeatedly used for the members of the International Olympic Committee (IOC). Therefore, I would not link the Santer package to the Games. "I would not link it directly. Indirectly, of course, it has a relationship because the (Athens) metro, the (Spata) airport and the Stavros-Elefsina-Spata motorway are projects which are essential for t he Olympics. The EU, one way or another, has accepted to fund them. And they are not related to the Olympic Games."

[09] ... Labor reaction

Athens, 09/09/1997 (ANA)

At a press conference at the Thessaloniki Labor Center, Mr. Polyzogopoulos expressed the hope that winning the bid would be used to benefit development throughout Greece, not just a section of it.

"We shall become an eye that checks transparency and anything that needs to be checked, to prove that this bid was awarded to the benefit of our country and workers and to that of the whole world, by upgrading the institution itself," he added.

Messages hailing the awarding of the 2004 Olympic Games were issued by various other groups.

The Athens Labor Center (EKA) said the decision obliges Greece to fight what it called commercialism of the modern games and to carry out the massive endeavor without burdening the state budget.

Greece is able to organize the best modern Olympic Games, and hotel owners are prepared to join the national effort for its success, the Panhellenic Federation of Hoteliers noted.

The Federation of Tourism and Travel Offices of Greece said hosting the Games would improve tourism and called for creation of more hotel beds in Athens.

[10] ... Congratulations continue to arrive

Athens, 09/09/1997 (ANA)

"I express my hope that this great celebration of athletics be crowned with success and allow, for one more time, the youth of the world to meet and compete in a spirit of brotherhood and respect for the values of Olympism," the message read.

Mr. Stephanopoulos sent Mr. Chirac a telegram acknowledging and thanking him for the message.

"This message, coming from the homeland of the reviver of the Olympic Games, Pierre de Coubertin, moves me greatly," his message read.

[11] ... Australia ready to help

Athens, 09/09/1997 (ANA)

"The undertaking of the 2004 Olympics by Athens is a wonderful achievement both for the historic city and for the Greek nation and I congratulate you warmly", Mr. Howard's message said.

"It was the right choice, as Greece is the birthplace of both the classical Olympic Games and the modern," he added.

[12] OECD says reforms must be accelerated for Greece to join EMU

Paris, 09/09/1997 (ANA/AFP)

"After the 'slackening' in economic policy during 1996, particularly in the sector of fiscal restructuring and structural reform, it is urgently necessary for the rate of reforms to be speeded up at present," the OECD assessed on the Greek economy.

The OECD stressed that the Greek economy "made commendable efforts" during the first half of its five-year convergence program (1994-1999), however, the public deficit ratio with GDP remains higher than the 3 per cent ceiling set by Maastricht.

The annual inflation rate in Greece is also higher than the European Union average of 3 per cent. However, inflation is following a downward trend and dropped to 5.4 per cent in May, which is the lowest mark since 1973. This strengthens consumer and business confidence in the general state of the economy.

According to predictions by the OECD, the rate of economic growth will reach 3 per cent both this year and next year, while the Greek government has set the targets of 3.5 per cent and 3.75 per cent, respectively.

[13] Greek condolences on death of Mother Teresa

Athens, 09/09/1997 (ANA)

[14] ND moves to improve Parliamentary presence

Athens, 09/09/1997 (ANA)

ND spokesman Aris Spiliotopoulos said that eight sectors were set up, each headed by an ND deputy.

The party is making a new beginning and taking a leap into the future, Mr. Spiliotopoulos said.

The decision to restructure was taken by party leader Costas Karamanlis, to make ND's presence more effective and intense and to fulfill the institutional role of the opposition. The government's work will thus be better supervised and mistakes pointed o ut more systematically, the spokesman said.

[15] Riccardo Muti to conduct La Scala orchestra in Thessaloniki

Athens, 09/09/1997 (ANA)

Speaking to the press yesterday, Mr. Muti said that "if there was more music and fewer words, the world would be more united. We all have the need to hear with our soul, rather than our ears".

The orchestra will perform works of Beethoven, Busoni, Bartholdy, Schumann, Elgar and Falla at the University of Thessaloniki events hall.

Tickets will be available at 6,000, 4,000 and 3,000 drachmas, and the funds will be provided for reforestation of the Seikh Sou forest in Thessaloniki, almost half of which burned down over the summer.

No invitations will be available.

[16] Remainder U2 tickets on sale Thursday

Athens, 09/09/1997 (ANA)

There are 25,000 tickets available after some 25,000 tickets were sold by pre-registration. If the remainder are not sold out, the sale will continue on Friday.

The concert will be held at Pier 2 in Thessaloniki's port.

[17] Kinkel says it's too early for Turkish EU membership

Bonn, 09/09/1997 (ANA-P. Stangos)

Speaking to foreign correspondents, who asked about Turkey's prospects of becoming a full EU member, Mr. Kinkel said: "It is entirely out of the question within a visible time-frame, due to the Kurdish problem, human rights, economic problems and because of Greece's objections".

He also expressed his regret that "Greece is obstructing the EU from fulfilling its obligations, which derive from the agreement on customs union with Turkey".

The questions were related to a visit to Germany by Turkish Prime Minister Mesut Yilmaz at the end of the month and a visit by Foreign Minister Ismail Cem at the end of this week.

[18] Laliotis focuses on Greek construction firms' int'l prospects

Athens, 09/09/1997 (ANA)

The public works minister outlined these prospects yesterday at a conference in Thessaloniki entitled "Construction Projects: Prospects for Co-operation in New Markets in Southeastern Europe."

Mr. Laliotis referred to the independent activities already underway by several Greece-base construction companies in Albania, Bosnia-Herzegovina, Bulgaria, Moldova, Ukraine, Romania, Russia and the Former Yugoslav Republic of Macedonia (FYROM), which have undertaken to carry out 26 projects over the past three years. These projects, budgeted at US$151 million, are for building projects (22), three road works and a harbor improvement project.

"In the sector of infrastructure, in particular, the public works ministry is methodically promoting co-operation agreements on a bilateral inter-state level which will safeguard the activities of Greek construction companies and offices involved in studies. A five-year developmental aid program has also been ratified in the environment sector with a budget for eight billion drachmas," he said.

"For this reason the government feels committed to have the Egnatia Motorway completed day by day... to have been completed and included, on an equal footing, in European networks," he added.

On his part, EU Energy Commissioner Christos Papoutsis referred to the European prospect and the activities of Greek businesses in Balkan, central and eastern European and Black Sea countries.

A special commissioner group has been established, in which Mr. Papoutsis participates, for the better coordination and programming for projects as well as their funding forecast.

These projects include networks financed by the European Union outside its boundaries, such as the Europe-Russia natural gas pipeline and the 10 road transport corridors which were decided at the conferences in Crete and Helsinki.

Funds for the future funding of EU policies, namely, what is termed the "Santer package", will amount to ECU 275 billion over the 1999-2006 period compared to ECU200 billion over the current period (in 1997 prices).

Out of these funds, 45 billion will be provided for activities in countries included in the EU's forthcoming enlargement in the form of aid for the pre-accession phase to enable candidate countries to approach EU norms at infrastructure level.

"Greek companies must orientate themselves towards these new factors so as to strengthen their competitiveness and they should preoccupy themselves with both the issue of co-operation with companies from other European countries and the issue of mergers with other similar companies in Greece," Mr. Papoutsis said.

[19] Papoutsis: Development, wider distribution of prosperity attainable

Athens, 09/09/1997 (ANA)

He speech was entitled "Dilemmas and Prospects for a Powerful European Economy in the 21st Century", and was given at an event organized in his honor by the Federation of Northern Greece Industries.

Mr. Papoutsis said what is necessary is special emphasis on promoting structural changes in the labor market which will create job opportunities, as well as incentives being provided for low-specialization jobs in the services sector.

"Particular attention must be paid to society accepting these structural changes, as a basic precondition for their success. The European social model should be safeguarded. We must not accept the dilemma of employment or social protection since it is inconceivable to have to choose between a worsening of unemployment and the widening of income inequalities. On the contrary, we must try to achieve the double target of economic development and a wider distribution of common prosperity," he said.

Referring to Economic and Monetary Union (EMU), Mr. Papoutsis said "at present, there is no serious question of a delay in the start of the third stage of EMU."

He said there is the possibility "if necessary to give a flexible interpretation to fiscal criteria required for the selection of countries for the first cycle of the euro."

"In any case the criteria which will apply for the countries participating in EMU from the start must also apply for countries such as ours, which will participate later on," he added.

[20] Greek bourse celebrates Olympic Games award to Athens

Athens, 09/09/1997 (ANA)

Traders said the market was jubilant with analysts, economists and politicians all agreeing that the Olympic Games would have a positive impact on the Greek economy in the long term.

Buying orders were massive pushing almost 80 percent of the market's issues up to hit the daily upper eight percent ceiling and the general index to its highest close since June.

The index ended at 1,663.69 points, up 122.69 points or 7.96 percent.

All sector indices ended sharply higher. Banks, Leasing, Investment, Industrials and Construction were 8 percent up, Insurance and Holding followed with a rise of 7.9 percent and Miscellaneous ended 7 percent higher.

The parallel market index for small cap companies ended 6.9 percent up.

Trading was heavy and turnover was 19.2 billion drachmas. Broadly, advancers overwhelmingly led decliners by 264 to 2 with another 5 issues unchanged. Hellenic Telecommunications Organization (OTE), National Bank of Greece, Alpha Credit Bank, Titan Cement and Intracom were among the 183 issues to end at the daily ceiling, while Etma, Allatini and Remek were the only issues to end lower.

National Bank of Greece ended at 36,072 drachmas, Ergobank at 18,252, Alpha Credit at 20,250, Delta Dairy at 4,449, Titan Cement at 15,660, Intracom at 13,581 and OTE at 7,020.

[21] Athens Olympics to give Greek economy shot of adrenaline

Athens, 09/09/1997 (ANA)

Economists expect the turnover of Greek industrial groups to reach 550 million dollars in the period 2000-2004 and cite the speed up of major infrastructure projects as the main impact of the award to Athens of the 2004 Olympics.

The construction sector will see 800 billion drachmas of new projects, according to earlier estimates.

Also, information technology projects associated with the Olympic Games are expected to exceed 50 billion drachmas, with the Hellenic Telecommunications Organization due to play a leading role in the sector. The partly privatized state telecom has already announced a 1.2 trillion drachma development program.

Meanwhile, market analysts expressed their satisfaction at the market's reaction to the news Athens will host the Olympic Games, predicting a steady upward trend in the long-term with minor corrections.

[22] Hungary seeks closer trade relations with Greece

Athens, 09/09/1997 (ANA)

Speaking at a press conference in the framework of Hungary's participation in the Thessaloniki international trade fair, the Hungarian ambassador said that large companies had already begun to expand activities in Greece.

MOL, a Hungarian oil company, is participating in a consortium with American and British companies for oil exploration in Ioannina and the west coast of the Peloponnese.

MAV Adtranz is taking part in a Greek railways' tender for the supply of rolling stock. The same company along with Icarus automobile firm are interested in exporting city and tourist buses to Greece.

"Greek-Hungarian trade exceeded 100 million dollars," Mr. Hermann said. Bilateral trade soared to a record of 122 million US dollars in 1996. Greek exports totaled 53 million while Hungarian exports were 69 million dollars.

"Tourism revenues were over 80 million dollars," the Hungarian ambassador added.

Hungary exports mainly machinery, vehicles, farm produce, refrigerators, chemicals, plastics, pulp, paper and fabrics. Greek exports include telecommunications and industrial equipment, farm produce, fabrics and metals.

[23] Seminar on aluminium to be held at TIF

Athens, 09/09/1997 (ANA)

The seminar will be sponsored by the Hellenic Aluminium Union and will be addressed by its chairman, Christos Christodoulou, and Emmanouel Tzekakis, a professor at the University of Thessaloniki.

Aluminium is the honorary sector at this year's TIF.

[24] EU to hold conference on internationalization of SMEs

Athens, 09/09/1997 (ANA)

The purpose of the conference is to review moves undertaken to support small and medium-sized enterprises (SMEs) and to consider internationalization and competitiveness.

This year's conference, the fifth annual event of its kind, will concentrate on issues such as internationalization and competitiveness.

The debates and their conclusions will help the European Commission in preparing future action under its Multi-Annual Program 1997-2000 in conformity with the needs of the market and of SMEs.

Approximately 450 representative bodies of SMEs from across Europe will participate in the conference, including Chambers of Commerce, professional organizations, regional development agencies and private business councilors.

[25] Trans-European Networks to boost European economy

Athens, 09/09/1997 (ANA)

"TENs feature in the Amsterdam employment resolution and will have a place in the work the Commission is doing to prepare the Luxembourg Jobs Summit", the Commissioner said.

Many jobs will be created during the construction of infrastructure, but the main effect of the networks strategy will be evident from its long term consequences of increased competitiveness of the European economy, and the jobs and growth generated as a result.

A Commission study of the effects of TENs investment indicates - on a very conservative basis - that between 130,000 and 230,000 permanent jobs would be created through the 14 Essen projects alone, and between 590,000 and just over one million through t he transport TENs as a whole.

The Commission's estimates are lower than those carried out by member states on specific projects which produce figures that are two to three times higher.

The Commissioner said that the external dimension of TENs policy and financing should also be recognized as the EU approaches enlargement to the East.

An important starting point for this effort is 100 MECU allocated by the European Parliament in 1997 for TENs connections with countries participating in the PHARE program.

He confirmed that the sum would soon be allocated to projects that were chosen on criteria that included their maturity, and their location on TEN corridors in Poland, Hungary and Slovenia.

[26] Mandela sends message for Thessaloniki int'l fair

Athens, 09/09/1997 (ANA)

During a press conference in Thessaloniki, Pretoria's ambassador to Athens, David Jacobs, said that both countries were able to serve the markets of large areas due to their geographic location.

Relations between the two countries have not been developed extensively, despite opportunities, he said.

Thessaloniki, he added, "must definitely play an important role in our efforts to expand our economic activities in the general area."

South Africa's general consul in Thessaloniki, Vassilis Takas, said that in 1995, Greek exports to South Africa totaled 2.7 billion drachmas, while 1996 showed an increase by nearly 40 per cent, to reach 4.2 billion drachmas.

South African exports to Greece, he said, totaled 9.6 billion drachmas in 1995, and reached 14 billion drachmas in 1996.

The Hellenic-African Group of Businessmen will be represented in Thessaloniki as of October 1 to study and promote trade between the two countries.

[27] Tentative conclusions from study on Greek industry unveiled

Athens, 09/09/1997 (ANA)

The project was developed at all regional levels on the most important and dynamic sectors of the Greek industry.

The presentation of tentative conclusions aimed to contribute to the formulation of final conclusions and policy proposals which will serve as a tool for the ministry towards an adjustment or re-orientation of government policy.

Ms Papandreou said the final synthesis of conclusions will be completed by the end of next month.

[28] Ergo Investment profits

Athens, 09/09/1997 (ANA)

Taking advantage of attractive price levels, the investment company proceeded during the summer with extensive investments, utilizing a considerable part of new capital it had obtained during the recent increase in its share capital.

At the end of August, 93 per cent of its assets were invested at home and the remaining 7 per cent had been invested in markets abroad. The internal value of its share amounts to 810 drachmas and as a result its share is negotiated at the Athens Stock Exchange with a discount amounting to 11.35 per cent.

[29] GSEE, ADEDY comment PM's economic speech

Athens, 09/09/1997 (ANA)

The press conference was held in the wake of Prime Minister Costas Simitis' speech in Thessaloniki on the course of the Greek economy.

Commenting on what Mr. Simitis said at the 62nd Thessaloniki International Fair, ADEDY President Yiannis Koutsoukos said over the past decade income has been re-allocated in favor of capital and interest and at the expense of salaried employment.

Mr. Koutsoukos also said taxation is a major issue, saying that the Prime Minister "focused on words" with ascertainments on tax evasion, while what is necessary is a deep taxation reform.

End of English language section.

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