Athens News Agency: Daily News Bulletin in English, 97-12-02
From: The Greek Press & Information Office, Ottawa Canada <grnewsca@sympatico.ca>
ATHENS NEWS AGENCY BULLETIN (No 1356), December 2, 1997
Greek Press & Information Office
Ottawa, Canada
E-Mail Address: grnewsca@sympatico.ca
CONTENTS
[01] Simitis talks in Paris dominated by EU-Turkish relations, Cyprus
[02] Last-minute Greek-Turkish agreement at NATO meeting reported
[03] ... Gov't spokesman
[04] Turkey's Karadayi in Athens
[05] Kranidiotis briefs Russian ambassador
[06] WEU's role the focus of organization's Parliamentary Assembly
[07] Balafas acquitted of all charges
[08] German deputies in Athens to work on 'tripartite rapprochement'
[09] ... Youth visit to Europarliament
[10] SAE conference begins in Thessaloniki today
[11] ERT to beam satellite broadcasts to Australia
[12] 'Greece in Britain' cultural events to begin next year
[13] 2004 Olympics organization on Cabinet agenda
[14] Albanian interior minister meets with Romeos, Soumakis
[15] No visa scam at Gjirokaster consulate, foreign ministry says
[16] New laws on legalizing foreign workers to be revealed today
[17] Surprise winners at Thessaloniki Film Festival
[18] Testimony heard at multiple rape suspect's trial
[19] ECOFIN meeting intermission after deadlock
[20] Upgrades for downtown street unveiled
[21] Monetary guarantee submitted in relation to 'Kostsakos' sinking
[22] Tzoumakas on agriculture policy
[23] Greek stocks jump on economy, break 1,500 pt barrier
[24] EU to fund Baltic Sea projects through Phare program
[25] EKO posts nine billion drachmas in pre-tax profits
[01] Simitis talks in Paris dominated by EU-Turkish relations, Cyprus
Paris, 02/12/1997 (ANA - S. Liarellis/M. Spinthourakis)
Members of the Greek delegation visiting the French capital
yesterday expressed satisfaction following talks between Prime
Minister Costas Simitis with French President Jacques Chirac and
Premier Lionel Jospin .
The talks mostly focused on Turkey's participation in the
French-proposed European Conference for countries wishing to
join the European Union.
Greek sources stressed that the French side insisted on its
positions, but in milder tones than expected. In addition, they
said that two conditions set by Greece, namely, acceptance of UN
resolutions on Cyprus and prohibiting Turkey from blocking
Cyprus' accession procedure, were described as completely
self-evident, while a third condition - acceptance of the
jurisdiction of the International Court of Justice at The Hague
- was described as reasonable.
Nevertheless, the French side made it clear that the procedure
for the Conference had to begin because it would help in
Turkey's course towards the EU, stating they would make every
effort to find a solution.
Speaking at a press conference later, Mr. Simitis reiterated
that Greece could not consent to Turkish participation in the
Conference as long as Ankara refused to fulfill preconditions
which govern relations of all civilized countries.
He pointed out that firstly, there was no unanimity among the
"15" on the content of the Conference; secondly, that in the
text of the "Agenda 2000" it was clearly stated that all
countries had to accept in advance the jurisdiction of the
International Court as it was not possible that any dispute
could be brought into the EU; thirdly, that it was inconceivable
for a third country to accept or not accept EU negotiations with
another country and finally, that Turkey, through official
statements threatening partition or annexation of the island
republic, had made it clear that it did not accept the relevant
UN resolution referring to a single state on Cyprus.
Mr. Simitis also pointed out that it was not clear whether
Turkey wished to be a member of the Conference, since Turkish
Prime Minister Mesut Yilmaz had given a negative answer to his
Luxembourg counterpart Jean-Claude Juncker.
"We have nothing against any country, but we are against
practices which are incompatible to the principles of the EU,"
he said, adding that UN principles should unequivocally be
accepted by all.
Mr. Simitis also expressed satisfaction regarding the French
president's announcement during the talks that France would
support Athens' candidacy for membership with the UN Security
Council during the period 1999-2000.
Meanwhile, French presidency sources said that Paris supported
the Luxembourg presidency's proposal that Cyprus and the other
10 candidate countries should have "a common starting point" but
"a different pace" in negotiations.
It was agreed that the reform of EU institutions should take
place before completion of the first round of enlargement, while
there were no major differences between the two sides on the
issues of Economic and Monetary Union or the "Agenda 2000".
Mr. Chirac and Mr. Simitis also discussed Balkan issues.
According to French presidency sources, Mr. Chirac expressed a
desire for the rapid attainment of an agreement between Greece
and the Former Yugoslav Republic of Macedonia (FYROM) on
outstanding issues and congratulated Greece on the successful
meeting of southeast European leaders on Crete early last month.
[02] Last-minute Greek-Turkish agreement at NATO meeting reported
Brussels, 02/12/1997 (ANA/Reuters/AFP/DPA)
Greece and Turkey yesterday reached an agreement on a
decades-old dispute concerning the use of air space over the
Aegean, German General Klaus Naumann, the head of NATO's
military committee, said.
"I can confirm that the Greek-Turkish problem has been solved,"
he said, adding: "It's a problem that has been haunting this
alliance for over 20 years."
He also stressed that the agreement included all military
aspects of NATO's new command structure.
At the military committee session, where the agreement was
reached, Hellenic armed forces National Defense General Staff
Chief, Gen. Athanasios Tzoganis, reiterated Athens' proposal
regarding the "Combined Air Operations Center", which envisages
that there will be no delineation of the areas of
responsibilities in the Aegean, and that therefore, the center
will not be linked with the Athens FIR overseeing air space in
the Aegean.
A senior NATO official also said the agreement was "an enormous
breakthrough for the alliance."
In addition to agreeing that both Greek and Turkish officers
will share the command headquarters at Larissa and Izmir, the
two countries also agreed to nullify what Gen. Naumann called
"stacks of documents" on the dispute going back years.
National Defense Minister Akis Tsohatzopoulos said that the
formula found was favorable for Greece, and expressed optimism
regarding today's NATO defense ministers' session, which will
discuss and decide on the new command structure.
"We received satisfactory answers on a series of issues which we
had raised. They provide for satisfactory terms in the operation
of NATO," he said. He expressed, however, reserved optimism on
"Turkey's retreat" and referred to efforts by Ankara to raise
obstacles until the very last minute.
Mr. Tsohatzopoulos left yesterday for Brussels to attend today's
meeting of alliance defense ministers. Informed sources said
that despite Greek objections, Turkey had managed to put the
issue of the coordinating center for air operations and
exercises on the NATO military committee's agenda for
discussion. The issue was expected to be discussed within the
framework of talks on the implementation of NATO's new structure
next spring or autumn.
Turkey reportedly wants the operation of the center separate
from the issue of the Flight Information Region, which would
make it possible for Turkish aircraft to enter the Athens FIR
without submitting flight plans, on the pretext that they were
acting within the framework of the center's operation.
[03] ... Gov't spokesman
Athens, 02/12/1997 (ANA)
Meanwhile, Government spokesman Demetris Reppas said later that
Greece does not consider that NATO headquarters have a defined
area of operational control since it no longer had a specific
enemy.
He stressed that even under NATO's new structure, each member
state would retain responsibility for protecting its own
territory. Asked whether NATO's new structure would cancel out
any of Greece's sovereign rights, Mr. Reppas stressed that
Greece maintained its right to veto, as it had done with regard
to Turkish participation in certain NATO military exercises in
the past.
"When NATO exercises are being planned, we will continue to
raise issues of concern to Greece, as we have always done," he
said.
He noted that all member states had reached agreement on NATO's
new military structure, while the details would be worked out
over the next few months.
[04] Turkey's Karadayi in Athens
Istanbul, 02/12/1997 (ANA - A. Kourkoulas)
Turkish General Staff Chief Gen. Ismail Hakki Karadayi is
planning to visit Athens to attend a meeting of Western European
Union (WEU) military chiefs, according to Turkish press reports.
It will be the first ever visit by a General Staff chief to
Athens.
[05] Kranidiotis briefs Russian ambassador
Athens, 02/12/1997 (ANA)
Foreign Under-secretary Yiannos Kranidiotis met Moscow's
ambassador to Athens, Valentina Matvienko, yesterday to discuss
bilateral relations as well as pending visits here by Russian
Prime Minister Viktor Chernomyrdin and Foreign Minister Yevgeny
Primakov .
Mr. Kranidiotis also briefed the Russian ambassador on
Greek-Turkish relations, developments on the Cyprus issue and
the situation in the Balkans.
[06] WEU's role the focus of organization's Parliamentary Assembly
Paris, 02/12/1997 (ANA - O. Tsipira)
The Western European Union's (WEU) three-day Parliamentary
Assembly session opens here today to discuss the organization's
role as the European Union's military wing, in view of NATO
enlargement toward eastern Europe.
Particular attention will be focused on Greece, which assumes
the WEU presidency for the first half of 1998 on Jan. 1. Prime
Minister Costas Simitis is to address the assembly today.
Observers noted that Greek positions will come under close
scrutiny, particularly by the French press, as Greece has been
seen as giving excessive priority to bilateral problems with
Turkey rather than the building of Europe.
The outgoing German presidency has been praised for its
"exemplary work, particularly on the organizational and
technical side," but parliamentary observers also noted that it
is leaving a "political vacuum" intact.
The Greek presidency is expected to focus on giving an impetus
to discussion of certain points raised at the Madrid and
Amsterdam summits, such as the WEU's true position in the
framework of European defense and its relationship to NATO.
It is also expected to boost relations with southern
Mediterranean nations.
PASOK Eurodeputy Yiannis Roubatis will represent the European
Parliament at the meeting.
[07] Balafas acquitted of all charges
Athens, 02/12/1997 (ANA)
An Athens man accused of participating in the murder of
prosecutor Georgios Theophanopoulos, a bloody 1984 Athens
supermarket shootout/robbery as well as arms possession was
cleared yesterday of all charges by a seven-member mixed Athens
appeals court.
Regarding the prosecutor's murder, the court - composed of three
judges and four jurors - ruled that the testimony of only one
eyewitness, that of the victim's aunt, who claimed to have
recognized the culprit in the person of defendant Georgios
Balafas, was "not sufficient to lead to his conviction," given
also that it was contradictory to the coroner's report.
On the supermarket incident, in which two security guards died,
the court acquitted Mr. Balafas on the grounds of substantial
doubt, as the descriptions of the perpetrators given by
witnesses did not match his.
Finally, on the arms possession charge, three of the four
laymembers of the court considered that there was reasonable
doubt as to whether the defendant had himself actually rented
the apartment in which the weapons were found, while a fourth
considered that no evidence was presented to incriminating the
defendant.
Commenting on the ruling, the counsel for the defense, Yiannis
Fytrakis, said it closed a circle of persecutions against his
client that began on the pretext of an anti-terrorism campaign,
and directed against the extra-parliamentary Left and anarchists.
[08] German deputies in Athens to work on 'tripartite rapprochement'
Bonn, 02/12/1997 (ANA - P. Stangos)
German SPD Eurodeputy Yiannis Sakellariou, who is of Greek
descent, and Greens deputy Cem Oezdemir, of Turkish descent,
arrived in Greece yesterday to sound out support for a
"tripartite rapprochement" between Germany, Greece and Turkey,
beginning with youth programs held in Germany.
They had meetings with Foreign Under-secretary Yiannos
Kranidiotis, main opposition New Democracy party leader Costas
Karamanlis, Left Coalition leader Nikos Constantopoulos, Moslem
deputies, representatives of the Helsinki monitors and
conscientious objectors.
"We are not trying to create problems," Mr. Sakellariou told the
ANA. "Nor are we trying to divert attention from other efforts.
We said from the outset that we are not acting on behalf of our
governments but we want to help and therefore are at the
disposal of our governments."
In January, the two are to visit Turkey, where interest in the
initiative has already been expressed by Turkish business
circles.
Their goal is to "bring together" more than two million Turks
and 400,000 Greeks living in Germany, as a contribution to
"breaking down the stereotyped view that Greeks and Turks are
eternal enemies" and to efforts towards dialogue and
understanding.
Funds for programs such as educational seminars, are to be
sought from the European Union and the German government,
although Greece and Turkey are also to be approached.
[09] ... Youth visit to Europarliament
Brussels, 02/12/1997 (ANA)
Sixteen young people from both Greek and Turkish Cypriot
communities on the island of Cyprus yesterday began a five-day
visit to the European Parliament, on the invitation of New
Democracy Eurodeputy Kostis Hatzidakis. The youths are active in
cultural and political activities on the divided island and were
selected by the Cypriot Youth Organization and Fulbright
Foundation.
They will be briefed on the activities of European Union
agencies, attend a parliamentary session and meet Parliament
officials, as well as European Commissioner for external
relations Hans van den Broek.
[10] SAE conference begins in Thessaloniki today
Athens, 02/12/1997 (ANA)
The World Council for Hellenes Abroad (SAE) begins its first
ordinary meeting in Thessaloniki today, with the participation
of 340 elected representatives of Greek communities around the
world.
This morning there will be meetings of regional SAE groups and
procedural issues will be discussed. One of the issues on
tomorrow's agenda is a discussion of foreign policy of countries
with Greek immigrant groups with regard to Greece's "national
issues".
The official opening is to be held on Thursday, to be attended
by President of the Republic Kostis Stephanopoulos, Prime
Minister Costas Simitis, Cypriot President Glafcos Clerides and
other officials.
The SAE's new president is to be elected on Sunday, the last day
of the meeting.
[11] ERT to beam satellite broadcasts to Australia
Athens, 02/12/1997 (ANA)
The Greek state television network (ERT) is soon to begin
experimental satellite broadcasts for the Greek community in the
US, to be extended to Australia during 1998, government
spokesman Demetris Reppas said yesterday.
ERT is also holding talks with European cable channels.
Mr. Reppas also drew attention to Turkish language broadcasts by
the Greek Radio and Television (ERA) in Komotini.
Meanwhile, in response to a question, he said the government was
not planning to establish a ministry for Greeks abroad.
[12] 'Greece in Britain' cultural events to begin next year
London, 02/12/1997 (ANA - L. Tsirigotakis)
The Greek embassy in London will hold a series of events under
the general title "Greece in Britain" during the six-month
British presidency of the European Union which begins on
January, 1, 1998.
Prime Minister Costas Simitis referred to the program on Friday
during a press conference in London during his visit.
The aim of the events is to throw the spotlight on modern Greece
and will include cultural and other events such as concerts,
exhibitions, dance performances, film screenings and conferences.
The official start to the program will be on January 21, 1998 at
the House of Commons at which political figures from both
countries will be present.
[13] 2004 Olympics organization on Cabinet agenda
Athens, 02/12/1997 (ANA)
Cabinet will discuss the issue of the agency which will
undertake the organization of the 2004 Olympic Games at its
Friday meeting, government spokesman Demetris Reppas said
yesterday.
The structure of the agency, he added, would be outlined by
Interior, Public Administration and Decentralization Minister
Alekos Papadopoulos, following the completion of research by the
government's institutional committee.
Mr. Reppas said that no final decisions were expected on who
would be appointed to the agency during Friday's meeting and
that names would be considered following contacts with
opposition parties.
[14] Albanian interior minister meets with Romeos, Soumakis
Athens, 02/12/1997 (ANA)
Albanian Interior Minister Neritan Ceka had separate talks
yesterday with Public Order Minister George Romeos and Merchant
Marine Minister Stavros Soumakis, as part of his official visit
to Greece. The talks were also attended by Albania's ambassador
in Greece Kastriot Robo and the heads of the Greek and Albanian
police forces, Athanasios Vassilopoulos and Sokol Baraj.
According to reports, the talks were constructive and provided
an opportunity for a broad exchange of views and the further
promotion of bilateral co-operation.
Mr. Ceka's talks with Mr. Romeos focused on ways to improve
co-operation in matters of training, while the possibility was
examined of further co-operation through the joint working
committee which has already been formed to combat drug
trafficking, organized crime, and theft.
[15] No visa scam at Gjirokaster consulate, foreign ministry says
Athens, 02/12/1997 (ANA)
The foreign ministry yesterday rejected press reports claiming
that visas issued by the Greek consulate in Gjirokaster,
southern Albania, were up for sale, stressing that all the legal
procedures to issue a visa were being rigorously followed. A
foreign ministry announcement said that Greece's consul general
in Gjirokaster was performing his duties well despite the
difficult conditions prevailing in the region.
The issue of an ethnic Greek prosecuted for describing himself
as such in the recent census held in the Former Yugoslav
Republic of Macedonia is to be dealt with by Greece's diplomatic
liaison office in Skopje, government spokesman Demetris Reppas
said.
Mr. Reppas suggested that the person concerned, whose name was
given as Mihailovski, get in touch with the Greek liaison
office. However, he stressed that "such phenomena should no
longer ... be poisoning relations between neighboring
countries."
[16] New laws on legalizing foreign workers to be revealed today
Athens, 02/12/1997 (ANA)
Labor and Social Security Minister Miltiades Papaioannou is
expected to announce the details of a presidential decree
providing foreigners in Greece with legal residency and work
permits at a press conference today.
Mr. Papaioannou is also expected to announce the procedures and
prerequisites for receiving a temporary residency permit for
foreigners.
The new requirements and guidelines are expected to be defined
by the end of the year with a series of presidential decrees.
According to the head of the political asylum department at the
public order ministry, a presidential decree on monitoring
illegal immigration to Greece would also be ready by the end of
the year.
The series of measures, it is hoped, will bring an end to the
uncertain status facing some 400,000 immigrants residing and
working illegally in Greece and who have no personal or workers'
rights.
The number of illegal immigrants, according to state services,
now constitute almost 10 percent of the working population and
is expected to increase in the face of economic crises hitting
Greece's Balkan neighbors.
A government advisory committee on economic and social committee
(OKE) found that apart from immigrants from neighboring
countries, Greece was also a destination for economic migrants
from Asia and Africa, resulting in large communities of
Egyptians, Filipinos, Iraqis and Pakistanis all working
illegally and without social security.
OKE found that the illegal status of immigrants cost the Greek
state and economy, particularly at a time of fiscal difficulty.
[17] Surprise winners at Thessaloniki Film Festival
Athens, 02/12/1997 (ANA)
There were a number of surprises among the prizewinners at the
38th Thessaloniki Film Festival which ended Sunday night in a
ceremony that was marred when photographers, who had been banned
from mounting the stage, refused to take photographs.
The prize for the best Greek film was shared by "Lost Nights"
whose director Angeliki Antoniou was also awarded the prize for
best director, and "Miroupafsin" by George Kouras and Christos
Voupouras.
Prize for best scenario also went to "Lost Nights", written by
the director and Kriton Kalaitzidis.
Lazaros Andreou was voted best actor for his performance in "The
Golden Apples of Evening", while Irini Inglesi and Yasmin
Tabatabai shared the best actress award.
Aris Stavrou won the photography prize for his work in "Tomorrow
we'll know", while George Tsagaris won the music prize for his
score for "Vasiliki".
In the International Competition, Australia's Sue Brooks took
the Golden Alexander Award for the best film with her "Road to
Neil".
The Silver Alexander, awarded by the critics' committee was
awarded to the Turk Dervish Zaim for "Somersaults in a Coffin".
Paddy Breathnach won the prize for best director, while Shane
Meadows was awarded the prize for best scenario for "Tangible
24".
[18] Testimony heard at multiple rape suspect's trial
Athens, 02/12/1997 (ANA)
An Athens court yesterday heard testimony regarding a
53-year-old Athens pensioner and father of two that's charged
with the rape of several teenage girls.
Details of the case were disclosed 14 months ago when Gerassimos
Bilis-Samaras was arrested.
The defendant, described by prosecutors as a "sex-maniac", is
charged with seducing eight young girls between 1992-96.
According to court records, he would allegedly transport teenage
girls in his van, then photograph them in the nude before
blackmailing them with the photos if they did not consent to
sexual intercourse.
Testimony stated that the suspect had transformed his vehicle
into a "mobile bedroom", equipped with a bed and related
paraphernalia, such as handcuffs, a tape recorder, a knife and a
pistol.
Five of the eight girls, who are now of legal age, said in their
testimony that the only reason they had sex with the man was
because he threatened to harm them or members of their family.
The hearing was adjourned for today.
[19] ECOFIN meeting intermission after deadlock
Brussels, 02/12/1997 (ANA - P. Pantelis)
A meeting of the council of EU economy and finance ministers
(ECOFIN), held here yesterday, has come to a deadlock due to
disagreements between member-states' ministers.
The issues examined at the council were preparation of the third
stage of Economic and Monetary Union (EMU) in relation to the
Euro, as well as the package containing measures for the
harmonization of taxation, proposed by the European Commission.
Attending the meeting on behalf of Greece was National Economy
and Finance Minister Yiannos Papantoniou.
Objections to the Euro policy were forwarded by Greece, Britain,
Denmark and Sweden, while serious disagreements have also been
voiced over the harmonization of taxation, which includes equal
taxes on businesses and taxes on bank accounts.
The meeting was interrupted by the Luxembourg EU presidency and
was expected to continue late last night.
In the meantime, while the Council was meeting, about 3,000
duty-free shop employees staged a protest rally outside the
building. They were representing as many as 100,000 duty-free
shop employees in the EU, whose jobs are on the line after an
EU-wide extension duty-free shop ends in July 1999.
[20] Upgrades for downtown street unveiled
Athens, 02/12/1997 (ANA)
The ministry of environment, town planning and public works
yesterday announced a comprehensive program to reshape Pireos
street, a major avenue linking Piraeus with central Athens.
The initiative was announced yesterday by Public Works Minister
Costas Laliotis, who also inaugurated a relevant display of
works slated for Pireos street.
According to the minister, the 10-billion-drachma project is
envisioned to transform the entire 8.5km-long street.
[21] Monetary guarantee submitted in relation to 'Kostsakos' sinking
Athens, 02/12/1997 (ANA)
A letter of guarantee of just under 900 million drachmas was
submitted yesterday by the shipping firm owners of the
ferry-boat "Samaina", in relation to last year's collision
between the vessel and the missile boat 'Kostakos', an accident
that led to the sinking of the latter.
Relatives of the four dead crewmembers of the 'Kostakos', which
was later salvaged from the eastern Aegean's sea bed, filed a
legal motion with a Piraeus court, demanding 1.28 billion
drachmas for compensation for moral damages and support for the
four sailors' families.
However, according to the London International Treaty,
compensation should be calculated according to the ship's size
and capacity.
[22] Tzoumakas on agriculture policy
Athens, 02/12/1997 (ANA)
Agriculture Minister Stephanos Tzoumakas said yesterday that he
is determined to fully implement announced government policy in
the agricultural sector.
A series of development measures is already underway, such as
the establishment of a foodstuffs organization, a change in the
institutional framework governing cooperatives, a change in the
agricultural insurance policy, as well as the creation of a
sociiti anonyme company to promote exports.
In an interview with the ANA, Mr. Tzoumakas spoke on the course
of development interventions he's carrying out at the
agriculture ministry, the EU's "Agenda 2000" program, the new
'98 budget, debts owed by cooperatives and private persons, as
well as mobilizations and the tackling of forest fires.
Mr. Tzoumakas said farmers can expect better incomes now that
equal treatment has been secured between southern and northern
products in the framework of "Agenda 2000." He said this was the
result of initiatives and movements developed by Greece.
The remaining debts owed by cooperatives and private persons,
amounting to 300 billion drachmas, will be handled with bank
criteria, he said.
A new draft law is being prepared, he added, enabling
cooperatives to function as economic units and as a powerful
defense front against speculation.
Mr. Tzoumakas said he would like funds registered in the budget
for 1998 for new activities to be much more, adding that he is
discussing the possibility of certain groups of professionals
with a low income taking advantage of privileges offered to
people having agriculture as their main occupation based on the
register.
He ruled out a repetition of farmers' mobilizations in the form
they occurred last year and insisted that the motives behind
this form of mobilizations were political.
Mr. Tzoumakas went on to say that interest rates must drop in
the agricultural sector, he intends to have an S.A. company
created on French models to undertake to promote exports.
He said the coordination for combating forest fires will leave
the agriculture ministry and be given to the fire brigade.
[23] Greek stocks jump on economy, break 1,500 pt barrier
Athens, 02/12/1997 (ANA)
Greek stocks soared for the fifth straight session yesterday to
retake the psychological 1,500-point barrier, buoyed by downward
pressure on interest rates in a T-bill tender on Friday.
Also fueling optimism were hopes that November's consumer price
inflation will hold steady around five percent.
The general index closed 2.35 percent higher at 1,508.67 points
led by a wave of buying in interest in banks and industrials.
The index breached 1,500 points for the first time after 15
sessions.
Trading was moderate with turnover slightly higher at 24.3
billion drachmas from 21.1 billion drachmas on Friday. Turnover
last week was an average 19.2 billion.
Sector indices mostly scored gains. Banks rose 2.11 percent,
Insurance soared 3.08 percent, Investment jumped 2.90 percent
up, Construction edged up 0.46 percent, Industrials increased
1.06 percent, Miscellaneous edged down 0.01 percent and Holding
gained 3.40 percent. Bucking the trend was Leasing, which
slipped 0.28 percent.
Hellenic Telecommunications Organization (OTE) finished at the
eight percent upper volatility limit at 5,886 drachmas on
581,000 shares traded.
Of 247 shares traded advancers led decliners by 166 to 54 with
27 issues remaining unchanged.
OTE, Folli-Follie, Macedonia-Thrace Bank and Mouriadis scored
the biggest percentage gains at limit up. Hellenic Sugar,
Lambropouli (preferred), Macedonia Textile Mills (common) and
Corinth Textile Mills (common) ended at or near the eight
percent lower volatility limit.
Among blue chips National Bank of Greece ended at 26,290
drachmas, Ergobank at 15,350, Alpha Credit Bank at 16,745, Delta
Dairy (common) at 3,495, Titan Cement (common) at 13,315 and
Intracom (common) at 14,000.
[24] EU to fund Baltic Sea projects through Phare program
Athens, 02/12/1997 (ANA)
The European Union's executive Commission has called for
investment proposals to fund projects in countries of the Baltic
Sea under its Phare program. Funding for the projects is a
maximum 80 percent, and there is no deadline for applications.
[25] EKO posts nine billion drachmas in pre-tax profits
Athens, 02/12/1997 (ANA)
Pre-tax profits for the Hellenic Fuel and Mineral Oils group EKO
amounted to nine billion drachmas over the January-September
1997 period, registering an increase of 2.3 billion drachmas
compared to the corresponding period in 1996.
EKO increased profits over this period by 1.3 billion drachmas
compared to 1996, amounting to 6.2 billion drachmas, an amount
slightly higher than the prediction.
The refinery's pre-tax profits amounted to 3.3 billion drachmas
over the January-September 1997 period and are expected to total
4.8 billion drachmas by the end of the year, while chemicals
decreased losses by 1.9 billion drachmas compared to 1996.
End of English language section.
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