Athens News Agency: Daily News Bulletin in English, 97-09-11

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

ATHENS NEWS AGENCY BULLETIN (No 1286), September 11, 1997

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

CONTENTS

[01] Athens says Ankara at fault for lack of progress

[02] Tsohatzopoulos-Pangalos meeting

[03] S-300

[04] ND statements

[05] Ankara replies on Straits issue

[06] SEB welcomes premier's economic policy priorities

[07] Cyprus pleased with Rome's assurances

[08] Simitis, Venizelos confer on culture issues

[09] Ecumenical Patriarch invited to Komotini

[10] New Greek ambassador in Germany

[11] ND leader to visit Thessaloniki int'l fair

[12] ... Papariga

[13] ... Constantopoulos

[14] ... Pol.An

[15] UN-Panteios conference on democratic institutions

[16] Gov't will make decisions on 2004 Olympics shortly

[17] Angelopoulos-Daskalaki says no to politics

[18] Fouras briefs Stephanopoulos

[19] ... Bill Clinton

[20] ... SEB

[21] NBA stars in Athens

[22] Karamanlis meeting with new ND sectoral committees

[23] Film festival in Drama

[24] Conference on pension, workers' benefits

[25] Turkish police arrest would-be illegal immigrants to Greece

[26] 'Aristotelis', 'Alexander the Great' prizes awarded

[27] 'Moscow and Greek Culture' conference slated

[28] Event on Asia Minor Hellenism

[29] Military exercise 'Philippos '97' scheduled

[30] Drys on next year's tax changes

[31] UFEMAT conference in Athens

[32] 80 per cent of Greeks live in their own homes

[33] Focus on Greek Sugar Industry's performance

[34] Web page for Commerce Factoring

[35] Mon Parnes Casino improvements

[36] Greece pledges to step up EU funded projects

[37] Greek stocks slump in correction after Olympics euphoria

[38] Bank of Cyprus sees H1 operating profit rise 10.2 pct

[39] Greece sees small deviation in 1997 budget revenue

[40] Greece joins European lottery

[41] Greek minister backs new shipping measures

[42] EU urges member states to speed TENs projects

[01] Athens says Ankara at fault for lack of progress

Athens, 11/09/1997 (ANA)

Asked to respond to recent statements by US State Department spokesman Jim Foley, who criticized the use of the term "casus belli" by both sides, Mr. Reppas told reporters that Ankara' stance was such that it was not facilitating progress in bilateral relations.

According to an ANA dispatch from Washington, Mr. Foley said references by both sides to war were "out of bounds".

Mr. Reppas noted that Mr. Foley's statements were made in connection with the Cyprus issue and noted the spokesman's comment that the US government recognized only one government in Cyprus, that headed by President Glafcos Clerides.

"The Greek government believes that its policy, which is in accordance with international law and treaties, does not create problems. On the contrary, it contributes decisively to rapprochement between the two sides, showing a consistency that the other side does not," he said.

Mr. Reppas stressed that when there are positions on changing the status quo, whether in Cyprus or in the Aegean, Greece would not stand idly by.

"In such a development, Greece will act accordingly and not be standing by," Mr. Reppas said.

[02] Tsohatzopoulos-Pangalos meeting

Athens, 11/09/1997 (ANA)

According to a statement by Mr. Pangalos after the meeting, emphasis was placed on the importance of defense co-operation for the country's diplomatic relations, while Mr. Tsohatzopoulos also mentioned the "real co-operation" with the foreign ministry's political leadership, which he said helped boost Greece on the international front.

Mr. Pangalos declined to comment on criticism by Mr. Foley, but said: "I don't think Greece's declared position on the Cyprus issue amounts to a threat of war in our bilateral relations with Turkey. The Cyprus problem is one of a violation of inter national legality.

"Statements made to avert a worsening of the situation are necessary. With regard to our bilateral relations, we have made a commitment, through the Madrid communiqui, not to use the threat of war. I hope that this at least will be adhered to, since everything else has deteriorated in many ways and on many levels."

Mr. Pangalos expressed satisfaction that the Turkish government had decided to participate in the inter-Balkan conference in Crete in early November.

Meanwhile, Turkish Foreign Ministry spokesman Omer Akbel reportedly announced yesterday that Turkish Prime Minister Mesut Yilmaz would attend that conference.

Asked to comment on contradictory statements by European officials with regard to the Cyprus issue, particularly by German Foreign Minster Klaus Kinkel and his Italian counterpart Lamberto Dini, Mr. Pangalos referred to the European Union's legally binding commitment to start accession talks with Cyprus six months after the signing of the new IGC treaty, namely, in April 1998.

He also drew attention to the EU's oft-repeated position that resolving the Cyprus issue would contribute to a speedy conclusion of accession talks.

"It appears, however, that Mr. Kinkel has interpreted this statement in a more absolute manner," the minister said.

As no one knew how long these negotiations might take, Mr. Pangalos said Mr. Kinkel would do well to avoid making statements that referred to events likely to take place two or three years away.

"After all, he doesn't know if he will still be in office then," observed Mr. Pangalos, adding that Cyprus' accession to the EU was a question for all member states and was not just up to Kinkel.

"It is Greece that will determine when Cyprus will join the European Union," he said, noting that it was usual for the most interested member state to determine the accession of a new member.

Referring to Mr. Dini's view that there were "two entities" in Cyprus, Mr. Pangalos said his Italian counterpart "appeared to have some difficulty with diplomatic terminology", as no one knew quite what he meant by "entity".

The minister said Cyprus' accession to the EU was not linked to a resolution of the Cyprus problem, while the "entity" negotiating with the EU was a state, "and states do not negotiate de facto situations, but a legal framework".

"That is what the Cypriot government is doing on behalf of all Cypriots, including the Turkish Cypriots, who will decide if they accept the legal provisions agreed upon."

He pointed out the contradiction in letting Ankara and Turkish Cypriot leader Rauf Denktash "have a say in Cyprus' accession to the EU and yet declare, as Kinkel has, that Turkey itself has no hope of joining the EU."

[03] S-300

Athens, 11/09/1997 (ANA)

Mr. Tsohatzopoulos added that this sacred right meant much more to a small country, a sector of which was under the occupation and threat of violence from another country.

He stressed that the missiles in question were purely serving the purpose of defense.

"Whoever criticizes a small country for arming itself with anti-aircraft systems is condemning it to remain defenseless and a hostage to any threat," he said.

Such threats, continued Mr. Tsohatzopoulos, were continually being made by Turkey, whose officials frequently declared that Turkish air force planes could be over Cyprus in six minutes.

[04] ND statements

Athens, 11/09/1997 (ANA)

Mr. Spiliotopoulos' remark follows recent statements by Turkish Deputy Prime Minister Bulent Ecevit that Turkey will take "all necessary political measures" against Greece and Cyprus over the purchase of Russian made S-300 anti-aircraft missiles."

Mr. Spiliotopoulos criticized Mr. Simitis for what he called "lack of courage" and a "willingness to concede", saying he has prompted Ankara's "audacity."

The Political Spring party spoke of "pale reactions of a defensive nature by the government" in the face of Turkish provocativeness on the occasion of a meeting between Mr. Tsohatzopoulos and Mr. Pangalos.

[05] Ankara replies on Straits issue

Athens, 11/09/1997 (ANA)

"The status governing the Straits is described by clear international agreements and there isn't even the slightest thing which could create doubts regarding this status," he said.

"The status governing the Dodecanese is also clear and their demilitarization is confirmed by international law," Mr. Akbel added.

Mr. Tsohatzopoulos had observed that if Turkey insists on the issue of the demilitarization of islands in the eastern Aegean, Greece could raise the issue of the Straits' demilitarization.

[06] SEB welcomes premier's economic policy priorities

Athens, 11/09/1997 (ANA)

Confirmation that a decrease in the deficit will be pursued through a decrease in state expenditures and not through an increase in taxes met with a positive response. It was stressed that Greek taxpayers are already being taxed with particularly high percentages which must be decreased.

Incomes policy announced in the public sector must be applied with consistency.

In addition to a restriction in utility (DEKO) tariffs, what is also necessary is an improvement in productivity and the curbing of their operational cost, SEB stated.

The announcement by SEB said that the strengthening of Greek companies' competitiveness must be pursued, since for real convergence to be achieved economic growth rates must be speeded up.

However, Mr. Stratos pointed out that "the government must examine its "hard drachma" policy, given that the competitiveness of Greek industry has decreased by 20 per cent over a period of five years."

The announcement on the new EU support framework for the year 2000 was also considered positive.

The announcement concluded that social consensus on the major options of the future constitutes a substantive factor of success. And social dialogue being conducted in the current period constitutes an oppor-tunity for a rapprochement in views.

[07] Cyprus pleased with Rome's assurances

Nicosia, 11/09/1997 (CNA)

The assurances were given to Cyprus' Foreign Minister Ioannis Kasoulides by his Italian counterpart Lamberto Dini, during a meeting the two ministers had in Rome earlier yesterday.

Mr. Kasoulides was also received by Italian Prime Minister Romano Prodi who, on his part, assured the Cypriot minister that his country's policy towards a Cyprus solution and entry into the EU has not changed.

This was confirmed by a press release issued by the Italian premier's office after the meeting, which noted that both communities on the island (Greek and Turkish Cypriot) will benefit from Cyprus' entry into the Union and expressed hope that peace talks will resume soon.

During his meeting with Mr. Dini, Mr. Kasoulides noted the importance that Cyprus' accession course to the EU has on ongoing efforts for a Cyprus solution, stressing that Nicosia remains committed to the UN-sponsored peace talks in a positive and constructive spirit.

In an interview with Cyprus radio, Mr. Kasoulides said he explained to Mr. Dini that the Cyprus government wishes that the Turkish Cypriot side would take part in the accession talks, provided it accepts the entry of Cyprus into the EU and that negotiations are to be carried out by the legal government of the republic.

Mr. Kasoulides expressed satisfaction with the assurances he received that "there is no doubt that Italy recognizes the legal Cyprus government and has no intention of recognizing any other government in Cyprus."

"I explained there are not two entities in Cyprus, but one illegal entity according to UN resolution 540 and a legal government. There are two communities in Cyprus that negotiate a Cyprus solution," Mr. Kasoulides said.

[08] Simitis, Venizelos confer on culture issues

Athens, 11/09/1997 (ANA)

The meeting was attended by professor of archaeology at Thessaloniki's Aristotelian University and PASOK Deputy of State Dimitris Pantermalis, who is responsible for a program to promote 70 archaeological sites.

Mr. Venizelos said on his departure that the meeting was part of routine contacts between his ministry and the prime minister.

[09] Ecumenical Patriarch invited to Komotini

Athens, 11/09/1997 (ANA)

University officials and professors Konstantinos Simopoulos, Aristotelis Haralambakis and Philippos Tsalidis are paying a visit to the Patriarchate today to discuss his visit.

[10] New Greek ambassador in Germany

Bonn, 11/09/1997 (ANA)

Later, during a discussion that followed the short ceremony, the two men exchanged views on a further strengthening of Greek-German bilateral relations on areas such as politics, the economy and education.

The new ambassador outlined to President Herzog the Greek government's economic policy, aimed at a speedier participation in Economic and Monetary Unification.

[11] ND leader to visit Thessaloniki int'l fair

Athens, 11/09/1997 (ANA)

Mr. Karamanlis will speak to production representatives on Saturday evening at the fair's grounds and give a short speech at the meeting of the General Confederation of Professionals and Handicraft Producers of Greece on Sunday morning.

He will visit the fair and give a press conference afterwards at the Makedonia Pallas Hotel. On Sunday evening he will present awards to top scoring students, children of members of an association for families with many children.

[12] ... Papariga

Athens, 11/09/1997 (ANA)

At a press conference after an official visit to the International Fair, Ms Papariga charged the government with "going from bad to worse. The indication for this is its coldness and decisiveness against popular disapproval."

She said ND "does not differ from PASOK at all", that Synaspismos was "playing hide-and-seek with PASOK" and that the Democratic Social Movement (DHKKI) held "conflicting positions that did not offer a way out."

[13] ... Constantopoulos

Athens, 11/09/1997 (ANA)

He warned that Greece's winning of the bid to host the 2004 Olympic Games should not be used as an excuse, or "be used as an automatic excuse from imposing new taxes to dealing with our national issues". Mr. Constantopoulos prai-sed efforts to upgrade public utilities, and said the same should be done with their management and their investments.

[14] ... Pol.An

Athens, 11/09/1997 (ANA)

[15] UN-Panteios conference on democratic institutions

Athens, 11/09/1997 (ANA)

The conference will be held at the foreign ministry, 1 Academias St. on Sept. 18.

Opening remarks will be made by Panteios Professor and ambassador Dimitris Constas, also director of the IIR, and Foreign Under-secretary Yiannos Kranidiotis.

Speakers include Dr. Theodore Stathis, chairman of the Parliament's committee on foreign affairs, New Democracy (ND) deputies Marietta Giannakou-Koutsikou and Virginia Tsouderou, and others.

Closing remarks will be delivered at around 6:30 p.m. by Mr. Constas and Dirk Drijbooms, of UNDP's division of public affairs.

[16] Gov't will make decisions on 2004 Olympics shortly

Athens, 11/09/1997 (ANA)

Referring to the composition of the all-important organizing committee, which has been the focus of widespread press speculation, Mr. Reppas said the government would make its decisions shortly, after it has taken the necessary steps as to the type of organization, who'll be appointed to it as well as its financing policy.

He said he was unaware of who was a candidate to head the organizing committee but that the government would make the "right choice". The committee, he said, would be representative.

He added that Gianna Angelopoulos-Daskalaki had offered her technical services and would meet with the prime minister today.

In addition, Mr. Reppas said the government would have the final word on all issues regarding the 2004 Olympics as it had undertaken the responsibility of guaranteeing the holding of the Games.

He denied that the issue of new taxes to meet the cost of holding the Games had been raised and said it was not an issue.

Greece will respect the framework presented by the International Olympic Committee when it comes to signing the contract with the city, he said, adding that the final draft would have provisions favorable to Greek interests.

[17] Angelopoulos-Daskalaki says no to politics

Athens, 11/09/1997 (ANA)

In an radio interview, Mrs. Angelopoulos-Daskalaki said she would not refuse to offer assistance to such a committee. However, when asked if she would head a proposed Olympic Games undersecretariat, she said she had no desire to re-enter the political arena.

Mrs. Angelopoulos-Daskalaki is a former member of parliament with New Democracy and a former municipal council member.

"Politics are over for me for good. I simply did my duty as a Greek citizen and offered what I could to my country. There are still Greeks who are ready to make a contribution without expecting something more in return," she said.

[18] Fouras briefs Stephanopoulos

Athens, 11/09/1997 (ANA)

[19] ... Bill Clinton

Athens, 11/09/1997 (ANA)

"President Clinton congratulates the people of Greece, especially of Athens, for winning the Olympic Games bid for 2004," the spokesman said.

Mr. McCurry added that "it was fair that the first Olympic Games of the next millennium return to the place they began".

[20] ... SEB

Athens, 11/09/1997 (ANA)

Mr. Stratos underlined that the budget for all major projects needed for the Games is well-balanced, but even if expenditures exceeded forecasts, the greatest part of operational expenses would be transferred to the year 2004. He also said the country's economy in 2004 will be in a much better shape than it is today.

The SEB president told the press that what was of highest importance in organizing the Olympics was transparency and the utilization of a self-financing system in the construction of major projects.

[21] NBA stars in Athens

Athens, 11/09/1997 (ANA)

Yesterday morning the two basketball stars showed a few of their techniques and style during a seminar at the Peace and Friendship Stadium in Faliro. Later, they gave a press conference at a central Athens hotel, with topics ranging from the NBA, the US national men's 'Dream Team' and the likelihood of playing for a European basketball team.

[22] Karamanlis meeting with new ND sectoral committees

Athens, 11/09/1997 (ANA)

According to sources, the ND leader defined the areas of their responsibilities and called for close co-operation with the elected Parliamentary control groups.

He described establishment of sectoral work committees as an innovation, and stressed that the principle on which the scheme should be based is that of collectivity.

[23] Film festival in Drama

Athens, 11/09/1997 (ANA)

Drama Mayor Margaritis Tzimas said the international festival would hold events to commemorate its 20th anniversary, including a screening of 19 films that have won awards in previous years.

They will also hold a two-day meeting in Drama on the opening day that will include films from all international short feature festivals.

A Balkan film conference will also be held in the city on the day before the festival ends.

[24] Conference on pension, workers' benefits

Athens, 11/09/1997 (ANA)

General Confederation of Workers of Greece (GSEE) President Christos Polyzogopoulos made his proposal during a meeting held by GSEE and the Labor Institute on "Social Protection, Social Insurance".

Mr. Polyzogopoulos said that social security payments were already very high and workers were unable to pay more.

He called for abolishing the ceiling in pension increases going into effect as of next year, and a reduction in the requisite number of years in the workforce before being allowed to apply for pension, which is currently 35 years.

Long-term unemployment is dropping in Europe, but increasing in Greece, he said, and proposed that funds be guaranteed for the unemployed.

GSEE will aim at pressing the government to increase wages by over 3 and 4 per cent it is currently proposing to workers.

Meanwhile, Labor and Social Security Under-secretary Nikos Farmakis said in a memo circulated yesterday that all workers who have the prerequisites to apply for pension up to Dec. 31, 1997, but would still like to work, will be able to do so without penalties.

Other issues will be discussed between the government and social representatives.

[25] Turkish police arrest would-be illegal immigrants to Greece

Ankara, 11/09/1997 (ANA/DPA)

Quoting Edirne governor's office, the news agency said that four others had also tried to cross the borders at different points. It did not clarify whether they had been arrested also.

[26] 'Aristotelis', 'Alexander the Great' prizes awarded

Athens, 11/09/1997 (ANA)

British deputy Eddie O' Hara received the 'Alexander the Great' award, while academics Johannes Schwabl and Dr. Norman George Asthon were awarded the 'Aristotelis'.

Presenting the awards, Macedonia-Thrace Minister Philippos Pestalnikos praised the three winners, stressing that the awards were established with the aim to promote Greece's positions and rights, as well as culture, art and letters in the international community.

A keen philellene, 60-year-old Labor MP O' Hara, is vise-chairman of the British parliament's foreign affairs, transport and education committee. There, as well as at other committees he is a member of, he has been standing up for Greek rights.

Dr. Norman George Asthon, a lecturer in the ancient Greek language, philosophy and history at the University of Western Australia, received the award in return for his excellent work and promotion of Greek letters through a number of studies.

Finally, Johannes Schwabl, a lecturer in classical literature at Vienna University and the University of Budapest, devotes a great part of his studies on Greek literature and history of philosophy through the writings of Homer, Hesiod, the ancient Greek tragedies and Hellenistic poetry.

He is also a member of the Greek Humanitarian Society.

[27] 'Moscow and Greek Culture' conference slated

Moscow, 11/09/1997 (ANA - D. Konstantakopoulos)

One of two plenary sessions will be dedicated to the works of Maximus, a medieval Greek scholar and monk.

The congress is organized by the Greek embassy in Moscow and the culture ministry.

[28] Event on Asia Minor Hellenism

Athens, 11/09/1997 (ANA)

The events include a photographic exhibition based on the historic archives of refugee Hellenism and modern ones taken from the archives of journalist Vana Haralambidou, depicting the cultural magnitude of the past and the dereliction of the Turkish-con trolled present.

The inauguration of the photographic exhibition, as well as of historical and literature books focusing on Asia Minor, will take place this evening at the prefecture's cultural center.

[29] Military exercise 'Philippos '97' scheduled

Athens, 11/09/1997 (ANA)

Its purpose is to train combat units in modern warfare conditions and promote co-operation between service branches.

Meanwhile, a military exercise code-named "Acrobatic Grouse '97" is being conducted on the Strymonas River with the participation of several NATO member-states, observers from Europe and trainees.

The twice-a-year exercise is focusing on mine warfare, demolitions and bridge construction and is held once in northern Europe and once in the south. It is the first time it is being conducted in Greece.

[30] Drys on next year's tax changes

Athens, 11/09/1997 (ANA)

Replying to press questions, Mr. Drys said that the new indexes for determining the value of property would be announced by the end of the year, but these changes would not create problems in small and medium-sized enterprises.

In terms of tax criteria to determine the amount of tax, there would be "a logical increase in the criteria", and the manner of doing so was under discussion.

Mr. Drys said that the rest of the tax measures that are in effect for 1998 are under discussion between the government and interested parties.

"There will be tax arrangements, but not (new) tax regulations," he explained, adding that no discussion had yet been held on specific issues related to taxation policy, since the government was concentrated on drafting the new budget.

Revenues this year will fluctuate around the expected margins, he said, with a divergence of 2 or 3 per cent in all revenues, which are calculated at 8.7 trillion drachmas.

Tax and customs offices so far have reported an increase in revenues by 11.54 per cent.

[31] UFEMAT conference in Athens

Athens, 11/09/1997 (ANA)

UFEMAT is a Pan-European Union whose members are the national federations of 15 European countries, in which all companies dealing in building materials of all kinds participate.

The conference will be held in Greece for the first time. It will be attended by representatives of major building materials companies from Austria, Belgium, France, Germany, Denmark, Switzerland, Italy, Luxembourg, Britain, the Netherlands, Portugal, Sweden and Greece.

UFEMAT holds its conference in a different European country every year. The conference is combined with the general assembly of UFEMAT members and provides the opportunity for a discussion on all problems concerning sectors involved in building and an exchange of views on the companies' future.

[32] 80 per cent of Greeks live in their own homes

Brussels, 11/09/1997 (ANA - M. Savva)

According to a survey by the European Union's Statistical Service for 1994, only Greeks, Spaniards and Irish in their majority are in the pleasant position of enjoying their property, while the majority of the remaining Europeans prefer to resort to rented housing.

Eight per cent of Dutch tenants, as well as Danes, said that rents and living costs (electricity, utilities, water supply and heating costs) are very high in their countries. The same reply was given by 73 per cent of the Greeks.

On average, only 53 per cent of citizens in the EU appear to live on their own property.

In Greece, 91 per cent of those questioned said they live in one-story houses of their own, with the Dutch following with 63 per cent. Spaniards appear to prefer apartments (76 per cent ownership) in contrast to the Irish, where the corresponding percentage is only 6 per cent.

Ninety per cent of households in Europe possess basic equipment (a bathroom, hot water, etc.), but in this sector the Greeks and Portuguese lag behind.

[33] Focus on Greek Sugar Industry's performance

Athens, 11/09/1997 (ANA)

EBZ officials expressed certainty that the company's course will be even better in the future. They also said that despite the fact that foreign companies entered the Greek sugar market last year, EBZ produced profits amounting to 4-5 billion drachmas in 1996 and a turnover of 75-80 billion drachmas.

The company has not yet closed its balance sheet for 1996 and exact figures have not yet been presented.

It was announced that 360,000 tons of sugar are expected to be produced by the company's five factories this year. The quantity is more than adequate to meet demand in the Greek market. Combined with measures taken by the administration, the production cost has dropped by about 10 drachmas since last year and the price of Greek sugar has already decreased in the market by 7 drachmas per kilo.

The aim of the administration is to further decrease the production cost to allow for greater profits with low prices in the market. An investment program amounting to 2.8 billion drachmas is underway for 1 997, while investments totaling 4.2 billion drachmas have been included in the company's operational program.

[34] Web page for Commerce Factoring

Athens, 11/09/1997 (ANA)

[35] Mon Parnes Casino improvements

Athens, 11/09/1997 (ANA)

[36] Greece pledges to step up EU funded projects

Athens, 11/09/1997 (ANA)

The premier met National Economy and Finance Minister Yiannos Papantoniou and Economy Under-secretary Christos Pachtas to review the EU's second support framework ahead of the creation of a third package of funds.

The two officials also discussed the 1998 budget, which is currently being drafted.

Speaking to reporters after the meeting, Mr. Papantoniou said the talks did not go into detail and no decisions were taken. Mr. Pachtas said that the government wanted to complete projects under the second community support framework by the end of 1999, two years earlier than initially planned. Speeding up the projects was necessary due to the creation of a third community support framework for 2001-2006 agreed by the European Union.

[37] Greek stocks slump in correction after Olympics euphoria

Athens, 11/09/1997 (ANA)

The general index closed 1.10 percent down at 1,669.93 points, after a net gain of 10 percent in the previous two sessions of the week.

Sector indices were mixed. Banks fell 1.52 percent, Leasing dropped 2.93 percent, Insurance eased 1.18 percent, Investment was 1.57 percent off, Industrials fell 0.51 percent, Construction rose 0.68 percent, Holding was 0.18 percent higher and Miscellaneous ended 0.55 percent up.

Trading was heavy and turnover was 29.9 billion drachmas. Broadly, declining issues led advancing ones by 173 to 48 with another 18 issues unchanged.

Viochalco, Parnassos and Xylemporia scored the biggest percentage gains, while Bank of Athens, Sato, Vis and Keranis suffered the heaviest losses.

Hellenic Telecommunications Organization fell 140 drachmas to end at 6,900. National Bank of Greece ended at 35,800, Ergobank at 18,110, Alpha Credit at 20,250, Delta Dairy at 4,175, Titan Cement at 15,950 and Intracom at 13,600.

[38] Bank of Cyprus sees H1 operating profit rise 10.2 pct

Athens, 11/09/1997 (ANA)

The bank's chairman Solon Triantafillidis said that operating profits from activities in Greece were better than expected in the first half, totaling 6.1 million pounds, due to the bank's increased activity in financing and other banking services.

Overall, Bank of Cyprus's profits from business abroad accounted for 38 percent of the total, up from a 30 percent share in the previous year.

Total dividend payments to shareholders were 12 million pounds, an increase of 10.4 percent from the first half of 1996.

The bank's chairman said that recovery of the Cypriot economy was helping the bank and other enterprises to increase profitability in the current year.

[39] Greece sees small deviation in 1997 budget revenue

Athens, 11/09/1997 (ANA)

Total revenue was set at 8.7 trillion drachmas, Mr. Drys told reporters.

Tax office and customs data showed that revenue rose by 11.54 percent in January-August.

Mr. Drys repeated that the socialist government would not introduce any new general taxes in 1998.

[40] Greece joins European lottery

Athens, 11/09/1997 (ANA)

The lottery has two draws on October 11. One for Europe is to be held in Venice with a single prize equivalent to about 800 million drachmas and a two-phase draw will take place in Athens with many winners.

Tickets cost 1,000 drachmas each.

[41] Greek minister backs new shipping measures

Athens, 11/09/1997 (ANA)

"The new measures were designed to benefit both shipowners and sailors," Mr. Soumakis said, adding that if it was not for the measures outflows from the Greek ship registry would be much higher.

The minister also stressed that comparisons should not be made of the numbers of ships leaving or registering the registry, but on their gross tonnage and age. Mr. Soumakis said that the ministry had asked for the immediate hiring of 500 new port policemen in order to strengthen the force.

[42] EU urges member states to speed TENs projects

Athens, 11/09/1997 (ANA)

"Our transport network is a crucial part of the environment within which European firms must operate," said Neil Kinnock, the EU Commissioner responsible for transport policy and trans-European networks.

In a document published the European Commission endorsed the recommendations of the High Level Group whose task it was to look at the role of public-private partnerships (PPPs), and announced streamlined procedures to make PPPs easier to establish.

The priorities for the TENs network are already established, but where certain projects are at an early stage or advancing slowly and contacts with Member States suggest could benefit from the PPP approach the Commission will work with the public/privat e sector interests and other financial institutions to set up the partnership and ensure its speedy operation.

The specific approach will depend on the circumstances of each individual case but projects such as the Brenner tunnel or parts of the Train Grand Vitesse (TGV) Sud could be candidates for the PPP approach. The initial set of projects identified in the Communication is not exhaustive and the Commission will encourage Member States to make their own nominations. The Commission proposes to issue revised guidelines on the application of EU public procurement legislation to transport infrastructure projects. It has also reviewed the existing guidelines on the application of EU competition legislation and issued a separate Communication, with a view to clarifying them further.

Despite slow progress in some areas, the Community Budget continues to support the TENs projects that are making progress.

The Commission has recently made the allocation of the 1997 EU transport TENs budget of ECU 352 million to 125 transport infrastructure projects outlined in the TENs guidelines.

As in 1995 and 1996, the greatest support by far goes to rail projects.

This reflects the fact that this mode is given high priority at national and Union level and that great efforts are being made to advance these projects which are, in many cases, characterized by their particularly high cost, large scale and cross-border nature.

Furthermore, it confirms the Commission's political commitment to favor transport modes that are as environment-friendly as possible.

End of English language section.

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