Athens News Agency: Daily News Bulletin in English, 97-11-08
From: The Greek Press & Information Office, Ottawa Canada <grnewsca@sympatico.ca>
ATHENS NEWS AGENCY BULLETIN (No 1335), November 8, 1997
Greek Press & Information Office
Ottawa, Canada
E-Mail Address: grnewsca@sympatico.ca
CONTENTS
[01] Inner cabinet gives go-ahead for 'austere but fair' budget
[02] ... Reppas
[03] Onassis Foundation comments on Athina kidnap scenario
[04] Parliament approves 'Kapodistrias' local Gov't bill
[05] Kaklamanis on official visit to Germany
[06] Yugoslavia happy with Balkan summit
[07] Crete summit remains at forefront of Albanian media interest
[08] Kranidiotis to head PASOK mission to Socialist International
[09] Culture minister meets Spanish official
[10] Yilmaz upbeat on course of Greek-Turkish relations
[11] Karadayi reviews troops on Turkish-Greek border
[12] Greek navy discreetly monitors activities of Turkish vessel
[13] Cyprus FM holds talks in Athens
[14] Foreign, defense ministries discuss NATO CBMs
[15] EU-Turkish relations likely to be discussed at Luxembourg meeting
[16] Greece to react against Turkish attempts to build nuclear power plant
[17] Greek-Romanian business conference winds up in Thessaloniki
[18] Romeos reveals new stiffer penalties for drunk driving
[19] Remains of ancient shipwreck discovered
[20] 'From Alpha to Omega' photographic exhibition
[21] Greek-language seminar in Helsinki
[22] Greek firms interested in Serbian state sell-off
[23] Greek cables company eyes eastern Europe
[24] US marine products and services to be promoted at Athens event
[25] Karamanlis critical of social dialogue text
[26] Athens bourse shows signs of stabilization
[27] Finance ministry to launch 100 billion drachma eurobond issue
[28] Eurobond issue fends off drachma pressure
[29] Olympic Airways to spend 800 million dollars on fleet modernization
[30] Greek defense ministry signs 3.9 billion drachma supply contract
[31] Goldair sets up company in Skopje
[32] Gov't says committed to strong drachma
[33] Greek participation at int'l furniture exhibition
[34] US warship sails into Thessaloniki port
[01] Inner cabinet gives go-ahead for 'austere but fair' budget
Athens, 08/11/1997 (ANA)
Greece's budget for 1998 will be completely faithful to the
goals of the country's convergence program with the rest of the
European Union and will be "austere but fair", National Economy
and Finance Minister Yiannos Papantoniou said yesterday.
"The inner cabinet was unanimous on the details of the budget,"
Mr. Papantoniou told reporters after presenting the budget at
yesterday's three-hour meeting of the inner cabinet, chaired by
Prime Minister Costas Simitis.
The Cabinet will meet on Wednesday morning to rubber-stamp the
1998 budget before it is submitted to Parliament in the evening
of the same day.
Mr. Papantoniou said he was optimistic that the "ambitious"
convergence targets to drastically reduce the deficit and
inflation next year would be met and that the inner cabinet
yesterday had thrown its full support behind meeting those
targets.
He refused to go into any details on the content of the budget,
but sources said the recent monetary crisis and pressures on the
drachma had limited the budget's margins for hand-outs.
"We must further strengthen our economy to be able to deal with
the pressures being exerted on it," Mr. Papantoniou said. He
said the recent turmoil on Greek and international money markets
could continue into 1998, "up to the establishment of the euro",
which required Greece "to have a strong economy".
Mr. Papantoniou said the motto for the government's taxation and
spending policy next year was "austerity and justice",
reiterating past statements that policies in these sectors would
be "particularly contained" and that the state had to lead by
example in regard to self-restraint and containing waste.
He said the budget was geared towards growth and predicted that
the growth rate for next year could reach 3.7 percent, compared
to 3.5 percent this year, and that the program for public
investments would make a strong contribution to development.
[02] ... Reppas
Athens, 08/11/1997 (ANA)
Government spokesman Demetris Reppas said later that yesterday's
meeting of the inner cabinet had decided the general directions
of economic policy.
He noted that the government had made significant progress in
the execution of the 1997 budget and that the government would
achieve the targets it had set for 1998.
"What is important for us is to achieve our goals regarding
inflation and deficit figures towards economic and monetary
union," Mr. Reppas said.
He said that the recent monetary crisis on international markets
had had its effect on government decisions regarding the
drafting of the budget.
"There will be justice in taxation measures and effectiveness in
dealing with state spending," Mr. Reppas said, adding that the
meeting had "discussed all those issues which have been of
concern as well as proposals and ideas on budget issues".
He refused to say whether a projected tax on mobile phones had
been brought up at the meeting.
[03] Onassis Foundation comments on Athina kidnap scenario
Athens, 08/11/1997 (ANA)
The Alexander S. Onassis Foundation issued a statement yesterday
in response to statements by Thierry Roussel, whose daughter
Athina Onassis-Roussel is heir to the Onassis fortune, stating
that it "does never interfere and has nothing to do with any
matte r or affair relating to the minor Athina".
International arrest warrants were issued in Geneva on Thursday
for seven Israelis in connection with an alleged plot to kidnap
Athina, who has been living with her father in Switzerland since
her mother Christina's death in 1988. Mr. Roussel, in a
statement earlier this week said that police in Geneva had told
him that criminal activities directed against himself or his
daughter were in the stage of preparation.
"It concerned a kidnap attempt," he specified.
Mr. Roussel has been involved in a legal battle with the four
other trustees who jointly manage Athina's fortune.
These four trustees, who are also members of the Onassis
foundation, "are entitled under the law... to look after the
security of the minor and ... consider that (her) security is
jeopardized by the fact that her father divulges to the mass
media issues and matters relating to (her) security", said the
statement.
"The press campaign launched by (Roussel) forms part of his
scheme to isolate (Athina) from the control of the Board of
Administration (of the patrimony) even in respect of matters
relating to her security. This is unacceptable and dangerous.
"If need be, the members of the Board of Administration of the
minor's Patrimony, after being fully informed, will provide in
writing full and detailed answers to all such suspicious
insinuations, innuendoes and unfounded accusations of alleged
attempted kidnapping of the minor, as have been forged by Mr.
Roussel, provided it is proven that such insinuations etc., are
directed against the members of the Board and further provided
that these answers shall not harm the interest of the minor,"
the statement concluded.
[04] Parliament approves 'Kapodistrias' local Gov't bill
Athens, 08/11/1997 (ANA)
Parliament yesterday approved the bill for extensive mergers of
the country's multitude of municipalities and communities,
entitled 'Kapodistrias', by 159 votes in favor (PASOK and
Coalition of the Left) and 120 against (New Democracy, Communist
Party an d Democratic Social Movement).
Yesterday's session was marked by the walk-out of main
opposition New Democracy party deputies, and charges by their
leader, Costas Karamanlis, that the government had put up "a
show of authoritarianism, arrogance and gagging of parliament".
Interior Minister Alekos Papadopoulos described as "expected and
natural" the walk-out, charging that "the main opposition did
not have any arguments and escaped not from parliament, but from
reality".
Announcing the decision for the walk-out, Mr. Karamanlis said
that his party would abolish "this product of compulsion and
perversion when it comes to power".
[05] Kaklamanis on official visit to Germany
Athens, 08/11/1997 (ANA)
President of Parliament Apostolos Kaklamanis leaves for Munich
on Sunday to begin a five-day official visit to Germany, at the
invitation of his federal German counterpart Rita Suessmuth and
the presidents of local parliaments.
Mr. Kaklamanis is scheduled to visit Munich, Bonn, Stuttgart and
Berlin and will meet with federal and local government level
politicians to discuss bilateral and regional issues.
[06] Yugoslavia happy with Balkan summit
Belgrade, 08/11/1997 (ANA - M. Mouratidis)
The government of the Federal Republic of Yugoslavia expressed
satisfaction with the results of this week's Balkan summit in
Crete, in an announcement yesterday that drew attention to the
willingness of all summit participants to work together to
create conditions for closer co-operation.
The Yugoslav government considers that the joint communiqui
signed in Crete to constitute a foundation for regional
cooperation aimed at making better use of joint potential and
furthering Balkan nations' position in European developments.
Yugoslavia, it said, would actively work towards implementing
the positions adopted in Crete and expects all other countries
in the region to do the same.
Meanwhile, Belgrade business circles also responded positively
to the Crete summit. Belgrade Chamber of Commerce president
Branislav Vujinovic said the summit had opened the doors wide
for economic co-operation in the region. He urged chambers to
assume specific initiatives to promote co-operation in all
sectors.
The Belgrade chamber, he announced, is to organize a meeting at
the end of the week in co-operation with the Ministry for
Finance and Foreign Trade for Yugoslav firms interested in
Balkan co-operation.
[07] Crete summit remains at forefront of Albanian media interest
Tirana, 08/11/1997 (ANA- P. Haritos)
The Southeast European leaders' summit on Crete this week
remains at the forefront of Albanian media interest.
With the headline, "Fatos Nano, the Balkan winner," Zeri Populit
refers to a Tirana-Belgrade rapprochement.
According to the report, "those who disagreed with the
Nano-Milosevic meeting are not prepared to face the new
challenge called 'Europeanization' of the Balkans".
Striking a different note, Koha Jone says the Nano-Milosevic
talks "can only be described as unacceptable and detrimental,
since their repercussions affect negatively developments in the
Kosovo issue". According to the paper, this position was
expressed by the General Council of the Democratic Alliance of
Kosovo.
[08] Kranidiotis to head PASOK mission to Socialist International
Athens, 08/11/1997 (ANA)
Foreign Under-secretary Yiannos Kranidiotis will lead a
delegation of members from ruling party PASOK to the Socialist
International Council to be held in New Delhi on November 9-11.
The New Delhi conference is expected to draw 139 representatives
of socialist and social-democratic parties from around the world
and will focus on issues affecting Asia and the Middle East.
Mr. Kranidiotis will be attending the SI meeting in his capacity
as alternate secretary of the movement's international relations
department.
[09] Culture minister meets Spanish official
Athens, 08/11/1997 (ANA)
The prospects of organizing a Byzantine exhibition in Spain and
an exhibition of works by El Greco in Greece were discussed,
among others, by Culture Minister Evangelos Venizelos and
Spanish Education and Culture Under-secretary Mr. Cortes on
Thursday. Mr.
Cortes arrived in Greece for the inauguration of an engravings
exhibition by Goya in Thessaloniki.
Mr. Venizelos was due to inaugurate the museum of Ancient
Byzantine and Postbyzantine Musical Instruments in Thessaloniki
yesterday.
[10] Yilmaz upbeat on course of Greek-Turkish relations
Istanbul, 08/11/1997 (ANA- A. Kourkoulas)
Turkish Prime Minister Mesut Yilmaz appears optimistic on the
prospect of immediate- eve n though small- steps that could
reduce tension between Greece and Turkey and lead to bilateral
dialogue.
"I believe that in forthcoming days, the need to overcome
tension will acquire increasing weight, and the view that
co-operation will be to the benefit of both Turkey and Greece
will provide the possibility for small steps to be made in the
direction of good neighborliness and co-operation," he said in
summing up the results of his meeting with Greek counterpart
Costas Simitis on Crete.
As the Anadolu news agency reports, Mr. Yilmaz, returning from
Austria, said that during his discussions with Mr. Simitis, "we
set two priorities: Firstly, to avoid excessive tension, and
particularly due to (military) exercises, and secondly, the
commencement of a dialogue".
He described dialogue as continuation of proposals he has made
in the past, envisaging that dialogue is determined by the
principles of international law, and leaves the door open to the
possibility of arbitration or adjudication for the resolution of
problems.
Regarding the aim of reducing tension, Mr. Yilmaz said, "we
found that there is potential for small steps".
[11] Karadayi reviews troops on Turkish-Greek border
Istanbul, 08/11/1997 (ANA - A. Kourkoulas)
Turkish Chief of Staff General Ismail Hakki Karadayi reviewed
Turkish armed forces units near the Greek-Turkish border
yesterday, according to the Anadolu news agency.
The report said Gen. Karadayi arrived by helicopter about 100
meters from the customs post at the town of Ipsala, accompanied
by other senior army officers. It said the road from the
Greek-Turkish border had been closed for the duration of the
review.
[12] Greek navy discreetly monitors activities of Turkish vessel
Athens, 08/11/1997 (ANA)
A Turkish navy surveying ship has been sailing in international
waters in the northern Aegean since Thursday afternoon,
according to reports.
The "Kouboulkou" belongs to the Turkish military's surveying
service and is accompanied by a Turkish patrol boat.
The Greek navy's destroyer "Themistocles" is keeping a close
watch on the Turkish vessel's activities, as it sails between
the Athos peninsula, Thassos and Limnos. To date, there have
been no incidents, but reports added that the foreign ministry
was being kept informed.
Government spokesman Demetris Reppas later said there was
nothing untoward about the Turkish vessel's course in
international waters and that the Greek navy was discreetly
monitoring its activities.
"Nothing has been noticed that should lead us to make a specific
response," said Mr. Reppas, adding that all who observed the
rules of international shipping had a right to sail in
international waters.
"What we are doing is to watch its course to ensure that it does
not harm our interests," he said.
[13] Cyprus FM holds talks in Athens
Athens, 08/11/1997 (ANA)
Foreign Minister Theodoros Pangalos and Foreign Under-secretary
Yiannos Kranidiotis held talks yesterday with Cyprus Foreign
Minister Ioannis Kasoulides who arrived in Athens early in the
afternoon for talks with the Greek Foreign Ministry's leadership
on latest developments on the Cyprus issue in light of the
expected arrival in Cyprus of US special envoy Richard Holbrooke.
This was stressed in statements made afterwards by Mr.
Kranidiotis and Mr. Kasoulides, who said the discussion focused
on the accession course of Cyprus and the upcoming meeting
between Mr. Holbrooke with Cyprus President Glafcos Clerides and
Turkish Cypriot leader Rauf Denktash.
[14] Foreign, defense ministries discuss NATO CBMs
Athens, 08/11/1997 (ANA)
A joint meeting of the foreign and defense ministries held
yesterday within the framework of regular contacts to coordinate
foreign policy focused on an initiative by NATO Secretary
General Javier Solana on confidence building measures in the
Aegean.
Foreign Under-secretary Yiannos Kranidiotis and Defense
Under-secretary Demetris Apostolakis, who chaired the meeting,
observed that Greece views the process proposed by Mr. Solana in
a positive light and in a spirit of co-operation.
At the same time they stress the need for the appropriate
conditions to be created to ensure Greece's interests in the
broader region.
[15] EU-Turkish relations likely to be discussed at Luxembourg meeting
Brussels, 08/11/1997 (ANA - M. Spinthourakis)
The issue of EU-Turkish relations is very likely to be discussed
on the sidelines of the informal summit on employment in a
fortnight's time in Luxembourg, a diplomatic source said
yesterday.
The Luxembourg source said the presidency of the Council
attributed particularly high importance to the promotion of
relations with Turkey, and has given the issue top priority,
although without specific results so far.
According to the diplomat, despite the multitude of proposals
which the presidency submitted to Ankara in the last few months,
there has been no indication of a disposition to compromise in
the direction of normalizing Greek Turkish relations.
He added that all member states except Greece accepted the
Turkish view that the Union is not consistent with its
obligations for the provision of financial aid arising from the
customs union agreement.
[16] Greece to react against Turkish attempts to build nuclear power plant
Athens, 08/11/1997 (ANA)
The government has no information on whether Canada plans to
provide equipment and capital for the construction of a nuclear
power plant in Turkey, spokesman Demetris Reppas said yesterday.
He added that Greece is opposed to the use of nuclear power, and
will react by all legal means it possesses if the construction
of such a plant is attempted in the neighboring country.
Mr. Reppas also denied an allegation by Communist Party
Secretary General Aleka Papariga yesterday in Parliament that
there are still nuclear weapons in Greece.
[17] Greek-Romanian business conference winds up in Thessaloniki
Athens, 08/11/1997 (ANA)
Prospects for Greek investments being made in Romania are
auspicious, according to addresses made at the Greek-Romanian
Business Conference which came to a close in Thessaloniki last
night.
The two-day conference was organized by the Panhellenic
Confederation of Greek Agricultural Cooperatives (PASEGES) and
the Greek-Romanian Business Federation (EPES) and was aimed at
bringing Greek cooperative organizations and businesses into
contact with Romanian importers and exporters.
EPES President Nikos Papadakis pointed out that "if the Greek
businesses have long-term investment prospects and long-term
investment plans then they will find themselves before
considerable opportunities for such activities in Romania."
Romanian Agriculture Under-secretary Mr. Kovac invited both
cooperative organizations and businesses to Bucharest for the
transfer of know-how to Romania, as well as the Greek
Agriculture Ministry for an exchange of experiences.
[18] Romeos reveals new stiffer penalties for drunk driving
Athens, 08/11/1997 (ANA)
Stiffer fines for drunken driving, including suspension of
drivers' licenses and imprisonment, are being introduced in a
draft amendment to the Traffic Code unveiled by Public Order
Minister George Romeos.
The penalties also include points on drivers' licenses under the
point system.
Mr. Romeos said a special service would be set up to investigate
traffic accidents while a committee of high-ranking police
officers would also be set up to amendments to the Code
regarding problems caused to the major road arteries by such
incidents as large vehicles parked in the roads and slow driving
in the fast lanes (left lanes).
Drivers driving after their license has been suspended will face
heavy fines, ranging from 500,000 dr. to millions of drachma and
imprisonment from six months to two years. Under the proposed
amendment, drivers found in excess of the legal alcohol content
of 0.5 milligrams per liter of blood and up to 0.8 mg will be
fined 50,000 dr. and receive three penalty points, and their
vehicle will be withdrawn from circulation until the driver
becomes sober or is driven by someone else.
Alcohol content of 0.81-1.0 mg. carries a fine of 200,000 dr.,
on-the-spot removal of license plate, driver's license and the
car's circulation permit and their revocation for three months,
five penalty points, and immobilization of the car until the
driver becomes sober.
Alcohol content above 1.0 also carries a fine of 200,000 dr.,
on-the-spot removal of license plate, driver's license and car
circulation permit for six months. In the event of a repeat
offense above 1.0 mg. content, a 400,000 dr. fine is imposed
with 12 -month revocation of plates, license and permit, and six
months imprisonment.
A second repeat carries a fine of 600,000 dr., and eight months
imprisonment and permanent revocation of the driver's license by
judicial decision, while the offender will not be able to get a
new driver's license.
If a driver is caught driving under the influence of alcohol
after his license, permit or plates have been revoked, a fine of
at least 500,000 dr. is imposed as is a term of imprisonment of
between six months and two years.
In the event the driver in any of the above instances is not the
owner of the car, then both driver and owner face the same
penalties.
[19] Remains of ancient shipwreck discovered
Athens, 08/11/1997 (ANA)
Officials from the Culture Ministry's Marine Antiquities Service
have discovered the remains of an ancient shipwreck in the sea
region close to Leipsoi islands in the Dodecanese.
"Urns found are innumerable and their type has not been found to
date. Their neck is wide, has the shape of a bell and has double
handles," said Demetris Kazianis, chief of the Marine
Antiquities Department.
The urns were full of wine and were carried from Cilesia to the
southern coast of Asia Minor and Cyprus.
[20] 'From Alpha to Omega' photographic exhibition
Athens, 08/11/1997 (ANA)
A photographic exhibition titled "From Alpha to Omega: Greek
writing from the beginning until printing", planned, organized
and carried out by employees from the European Commission's
Translation Service, will be housed at the Epigraphic Museum in
Tositsa street 1 until February, 1998.
The exhibition primarily contains photographs, plans and
sketches depicting writings developed in the region of Greece
from prehistoric times until the postbyzantine period.
[21] Greek-language seminar in Helsinki
Helsinki, 08/11/1997 (ANA - V. Patouchas)
The University of Helsinki's School of Modern Greek held a
Greek-language seminar this week for the city's Greek community
on literary and historical subjects.
Speakers at the seminar included Greece's Ambassador in Helsinki
A. Theodorakopoulos.
There is great interest among Finns in Byzantine iconography and
the Finnish press has given broad coverage to the exhibition of
treasures from Mt. Athos currently being held in Thessaloniki.
[22] Greek firms interested in Serbian state sell-off
Belgrade, 08/11/1997 (ANA - M. Mouratidis)
Greek firms have expressed interest in a number of 75
strategically important state firms to be denationalized by the
Serbian government, according to reports. Greek firm Mytilineos
has reportedly shown interest in the Trepcamines in Kosovo,
while Titan is reportedly interested in the sale of cement
industries.
[23] Greek cables company eyes eastern Europe
Athens, 08/11/1997 (ANA)
The Ellinika Kalodia company is expecting an increase in its
turnover in the current fiscal year to 25.150 million drachmas,
offers to 2.050 million and dividends to 150 drachmas per share.
The cables company aims at expanding its activities to markets
in eastern Europe, where it is also making exports through its
subsidiary Tilekalodia which has secured orders from Hungary.
In 1996 it made investments totaling 900 million drachmas, its
turnover amounted to 22.9 billion, a 10 per cent decrease,
despite the fact the volume of sales increased by 2 per cent,
while the net unified profits remained at the same levels and
totaled 1.39 billion from 1.33 billion in 1995.
[24] US marine products and services to be promoted at Athens event
Athens, 08/11/1997 (ANA)
The Commercial Service of the US Embassy in Athens announced
yesterday that it will host its first ever Multi-Company
Promotion for US Marine Products and Services on November 12,
1997. This event will showcase five US firms from the marine
sector, who will present their companies, products, and services
to an audience of the biggest names of the Greek shipping
community, from shipowners, shipbuilding firms and distributors
of marine equipment to agents and service firms. The event will
be held at t he Athens Hilton Hotel.
The presentations will be followed by a speech by Captain
Charles F. Guldenschuh of the US Coast Guard on OPA-90 and Port
State Control.
[25] Karamanlis critical of social dialogue text
Athens, 08/11/1997 (ANA)
Main opposition New Democracy party leader Costas Karamanlis met
the social dialogue coordinating secretariat yesterday and said
afterwards the text on the social dialogue agreement is
disappointing.
Mr. Karamanlis said that on the one hand the text contains
general and self-evident principles and on the other many gaps
and negative interventions such as in the institution of free
and collective negotiations. He also accused the government of
irresponsibility and lacking boldness.
[26] Athens bourse shows signs of stabilization
Athens, 08/11/1997 (ANA)
Greek equities stabilized during the last trading session of the
week on the Athens Stock Exchange with the market drawing breath
after a sharp three-day drop in prices.
The general index closed 0.06 percent lower at 1,512.77 points,
to a net gain of 1.63 percent in the week.
Sector indices ending mixed. Banks fell 0.82 percent, Insurance
rose 2.55 percent, Leasing jumped 4.57 percent, Investment
dropped 2.07 percent, Construction ended 0.95 percent higher,
Industrials rose 0.39 percent, Miscellaneous increased 1.55
percent and Holding was 0.82 percent up.
The parallel market index for small cap companies jumped 2.36
percent.
Trading was heavy with turnover at 21.2 billion drachmas.
Broadly, advancers led decliners by 130 to 86 with another 17
issues unchanged.
Levenderis, Kekrops and Remek scored the biggest percentage
gains at the upper limit of 8.0 percent, while Nematemboriki,
Vis, Chalyps Cement and Balkan Export suffered the heaviest
losses at the down limit.
National Bank of Greece ended at 28,200 drachmas, Ergobank at
16,000, Alpha Credit Bank at 17,900, Delta Dairy at 3,750, Titan
Cement at 13,680, Intracom at 12,810 and Hellenic
Telecommunications Organization at 5,745.
[27] Finance ministry to launch 100 billion drachma eurobond issue
Athens, 08/11/1997 (ANA)
The finance ministry will issue a new series of one and
three-year eurobonds with a fixed interest on Monday.
The ministry also announced yesterday that it would hold an
auction of one-year interest bearing bills totaling 100 billion
drachmas.
The move, in coordination with the Bank of Greece, is seen as a
signal to markets that the government will remain firm on its
foreign exchange policy.
[28] Eurobond issue fends off drachma pressure
Athens, 08/11/1997 (ANA)
The government's decision to issue a new eurobond issue
significantly improved sentiment in the domestic money market
leading to a firmer drachma and lower interbank rates.
Bankers said the eurobond issue was a strategic move by the
government in order to improve the climate in the domestic
markets and also to reiterate its determination to implement a
hard-drachma policy.
The eurobond issues will be offered with interest rates at 4.6
percent and 5.2 percent for one and three years respectively,
rates lower than drachma-denominated issues.
In the domestic foreign exchange market the drachma was
substantially higher against the US dollar although it lost
ground against the ECU and the DMark.
The Bank of Greece reported inflows of 80 million ECUs and 40
million DMark, while interbank rates fell below 11 percent but
remained volatile.
[29] Olympic Airways to spend 800 million dollars on fleet modernization
Athens, 08/11/1997 (ANA)
Olympic Airways, the national carrier, said yesterday it would
spend 800 million dollars up to the year 2005 to buy 10 Airbus
A340-300 and 15 Boeing 737-800 aircraft, as part of the drive to
modernize its fleet.
Managing director Iordanis Karatzas said that the board of
directors has decided to purchase two Airbus A340-300 aircraft
in 1998, another two in 1999 and lease a fifth, also in 1999.
Olympic will replace two Boeing 727s, which would be sold to
Macedonian Airlines.
During the same period, the Greek carrier will purchase four
Boeing 737-800s. Another four will be supplied by 2000. The
company will lease 10 modern airplanes in order to meet
increased flight demands until the purchase of its new fleet.
Mr. Karatzas said that the restructuring program, which started
in 1994, is proceeding successfully and that the company had
showed increased profitability.
1995 profits were 9.9 billion drachmas, followed by a profit of
11.2 billion in 1996. The company expects this year's net
profits to reach 14.7 billion drachmas. Mr. Karatzas underlined
a change in the company strategy by opening up routes in the new
markets of central and eastern Europe.
Flights to new European and ex-Soviet destinations have tripled
since 1993 while passenger numbers have risen by 1000 percent.
Olympic Airways also plans to introduce an early morning, late
evening flight schedule to attract business travelers.
The Greek carrier has signed co-operation agreements with Cross,
a Swissair subsidiary, and Asura, an Italian carrier, to jointly
operate the routes from Thessaloniki to Zurich and northern
Italy respectively.
It has also announced the start of a Thessaloniki-Frankfurt
flight.
[30] Greek defense ministry signs 3.9 billion drachma supply contract
Athens, 08/11/1997 (ANA)
Contracts valued at 3.9 billion drachmas for the production of
ammunition for the General Army Staff were signed yesterday by
National Defense Minister Akis Tsohatzopoulos and Powder and
Cartridge Company (PYRKAL) president Evangelos Rogakos.
The contracts, of one year and five year duration, will meet the
needs of the armed forces and allow PYRKAL to consolidate its
growth on a secure basis, said the defense minister.
Within 1998, he added, contracts valued at 50 billion drachmas
are to be signed. Already, contracts worth 8.6 billion and 3.5
billion drachmas have been signed between PYRKAL and the General
Armaments Directorate and the general staffs.
The meeting also discussed the completion of PYRKAL's three-year
operational program, including plans to meet the armed forces
needs over the next five years and the co-production of weapon's
systems with other countries.
[31] Goldair sets up company in Skopje
Athens, 08/11/1997 (ANA)
Goldair, a Greek travel operator, has set up a new company to
operate in the Former Yugoslav Republic of Macedonia (FYROM).
Goldair Skopia is a joint venture with local investors and is
expected to begin operations soon.
Goldair's chairman Stelios Golemis said in Thessaloniki
yesterday that the new company's aim was to meet air travel
needs in the neighboring country.
Goldair also announced the creation of a new company, Goldair
Holding, in co-operation with Dutch airline KLM, German carrier
Lufthansa and others to provide ground services in Greek
airports.
[32] Gov't says committed to strong drachma
Athens, 08/11/1997 (ANA)
Government spokesman Demetris Reppas stressed the government's
commitment to a strong drachma yesterday in response to rumors
circulating abroad that a devaluation of the national currency
was imminent.
He said the government would defend the drachma, attributing the
rumors to "those trying to speculate and to maintain a climate
of uncertainty and confusion". "Our position is categorical," he
said. "Anyone who tries to play with the drachma will be
disappointed, perhaps even incur damages."
Asked whether the Greek economy could withstand maintaining
interest rates at such a high level in order to support the
drachma, Mr. Reppas said:
"The condition of the Greek economy is such that it can
successfully withstand whatever attacks are made on the drachma.
We will continue with the same economic policy."
[33] Greek participation at int'l furniture exhibition
Athens, 08/11/1997 (ANA)
The Greek Overseas Trade Organization (OPE) has undertaken to
organize Greek participation in the international furniture
exhibition "FINE 98" in Beirut from March 10-13 1998. Products
to be displayed include office and household furniture,
furniture for hotels and restaurants, garden furniture, carpets,
wall-to-wall carpets, tapestries, mattresses, drapes, curtains,
floor lighting appliances and interior decoration items.
According to a relevant announcement by OPE, the Beirut
exhibition is expected to attract more than 15,000 importers and
merchants, primarily from Lebanon, Syria, Jordan and the wider
Middle East region.
People interested in more information can call OPE's Exhibition
Department at 99.82.100 until December 10.
[34] US warship sails into Thessaloniki port
Athens, 08/11/1997 (ANA)
The US warship "Oak Hill" sailed into the port of Thessaloniki
yesterday on its first overseas voyage. The Captain of the
vessel Michael Dardan visited Thessaloniki Prefect Costas
Papadopoulos and Mayor Constantine Kosmopoulos at the head of a
delegation of officers.
The General Consul of the US in Thessaloniki David Stevenson
accompanied the Captain and officers of "Oak Hill" on their
courtesy calls.
The warship has a crew of 800 officers, seamen and marines and
will stay in the port of Thessaloniki for a week.
End of English language section.
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