Athens News Agency: Daily News Bulletin in English, 97-12-31
From: The Greek Press & Information Office, Ottawa Canada <grnewsca@sympatico.ca>
ATHENS NEWS AGENCY BULLETIN (No. 1379), December 31, 1997
Greek Press & Information Office
Ottawa, Canada
E-Mail Address: grnewsca@sympatico.ca
CONTENTS
[01] Turkey proposes direct talks between experts
[02] Response awaited from Turkey on military exercises
[03] ND meeting focuses on latest Turkish intransigence
[04] Tsohatzopoulos: Need for collective security body for Balkans
[05] Greece, Albania sign agreement on transport co-operation
[06] 'Foreign Affairs' article on Greece
[07] Yakovlev crew toxicology tests clean
[08] ... Complaint filed over crash
[09] Skopje FM says FYROM won't budge on the name issue
[10] Athens Academy awards
[11] Karamanlis visits 'SOS' boys' home
[12] Kaklamanis
[13] 10 ancient, Byzantine shipwrecks pinpointed
[14] Bregovic concert sees out Thessaloniki cultural capital year
[15] Evaluation of Thessaloniki's tenure as cultural capital begins
[16] Sharp ND criticism over Gov't tax, economic policies
[17] Natural gas flow to begin next week through Athens
[18] Fines for marine pollution
[19] Int'l indoor athletics tournament in February
[20] Greek stocks rebound on technical factors
[21] National Bank nine months pre-tax profits up 71 pct
[22] Economic fundamentals on convergence track, report says
[23] European Union cohesion slower than expected
[24] Ermou mall officially opened
[25] ATE contract with int'l consortium
[26] Christodoulakis says interest rates on downward trend
[27] Sale of bourse shares completed
[28] Quality label for locally made handicrafts
[29] KKE, Synaspismos harshly criticize Cosmote
[01] Turkey proposes direct talks between experts
Athens, 31/12/1997 (ANA)
The foreign ministry said yesterday that a Turkish committee of
experts had sent a letter to its Greek counterpart proposing the
continuation of contacts directly between the two sides through
the embassies in Athens and Ankara, rather than through the
European Union.
Greece and Turkey earlier this year each set up a two-member
committee of experts to examine ways of approaching bilateral
differences between the two neighbors.
Since then, the two committees have exchanged views through the
EU.
According to the foreign ministry, the Turkish experts have now
notified their Greek counterparts that "they are obliged to take
into consideration the recent decision of the Turkish government
to cease its contacts with the EU with regard to Greek-Turkish
relations".
Instead, the Turkish committee has proposed that contacts
continue directly via the embassies of the two countries.
The letter from the Turkish experts was sent before they
received the Greek committee's most recent reply of December 27.
The foreign ministry said that the Greek government, having been
informed of the Turkish letter by the Greek experts, intended to
raise the issue at the next EU Council of Ministers, given that
the entire process constitutes a European initiative.
[02] Response awaited from Turkey on military exercises
Athens, 31/12/1997 (ANA)
Greece's Civil Aviation Authority is still awaiting a response
from its Turkish counterpart on the areas where a Turkish
military exercise is scheduled between Jan. 2-25.
Greece has objected to three of the eight areas chosen by the
Turkish military.
Transport Minister Tassos Mantelis said that he does not
consider the matter important, adding that it is an expected
"game" by Turkey, which is played for 25 years now.
[03] ND meeting focuses on latest Turkish intransigence
Athens, 31/12/1997 (ANA)
Referring yesterday to what he called increasing Turkish
provocativeness, intransigence and aggressiveness, main
opposition New Democracy party spokesman Aris Spiliotopoulos
stressed the need for Greece to follow a serious, structured
and, primarily, resolute policy.
Mr. Spiliotopoulos said Turkish provocativeness must be exposed
before international public opinion in its entirety.
Earlier, ND leader Costas Karamanlis chaired a meeting attended
by Stavros Dimas, Ioannis Varvitsiotis, Marietta
Yiannakou-Koutsikou and others. It focused on latest
developments and Turkey's tactics following the announcement of
exercises it is scheduling in the Aegean for 20 days.
It was mutually ascertained that the European Union appears to
be realizing Turkey's intensifying provocativeness, which is
attempting to change the status quo in the Aegean.
ND's cadres assess that both January and February, due to
presidential elections in Cyprus (Feb. 8), will be crucial
months and do not rule out the possibility of a "hot" incident.
According to press reports, Mr. Karamanlis expressed concern
during the morning meeting about the latest developments in
Greek-Turkish relations.
[04] Tsohatzopoulos: Need for collective security body for Balkans
Tirana, 31/12/1997 (ANA - P. Haritos)
Neighboring countries have accepted Greece's active role in
efforts to resolve problems in Bosnia as well as Athens' role in
bridging the gap between the region and the European Union.
These were some conclusions drawn following National Defense
Minister Akis Tsohatzopoulos' official visit in Bosnia recently.
The Greek defense minister on Monday arrived in Tirana
immediately after leaving Sarajevo.
In Albania, he met yesterday with the President Rexhep Mejdani,
Prime Minister Fatos Nano and his counterpart Sabit Brokaj.
Mr. Tsohatzopoulos also met with Archbishop of Tirana and All
Albania Anastasios and Foreign Minister Paskal Milo, while on
Monday evening he visited the 204 troops of the Greek military
contingent stationed outside Tirana.
Additionally, he inaugurated the Tirana military hospital, since
its new wing was built and equipped by the Hellenic Air Force
general staff.
During a press conference, Mr. Tsohatzopoulos said that Greece,
Albania, Bulgaria and the Former Yugoslav Republic of Macedonia
(FYROM) should form a "collective body" as a force of security
in the Balkans.
"Greece, as well as Albania, Bulgaria and FYROM should take the
initiative for the establishment of such a regional body for
collective security".
He added that on the basis of that initiative, Greece will go
ahead with organizing new meetings, similar to the summit of
Balkan leaders last November on Crete.
Commenting on his contacts with his Albanian counterpart Brokaj,
Mr. Tsohatzopoulos said discussion focused on the successful
co-operation between the two countries' armed forces, which as
he said was not of an opportunistic nature.
[05] Greece, Albania sign agreement on transport co-operation
Athens, 31/12/1997 (ANA)
Greece and Albania signed an agreement in Athens yesterday
providing for co-operation in road, passenger and goods
transportation.
The agreement was signed by Transport and Communications
Minister Tassos Mandelis and his Albanian counterpart Gago
Apostoli.
During yesterday's talks, it was agreed that Albania should
become part of the inter-European road network, with the
inclusion of the Durres-Kapstitsa, Krystallopigi-Siatista and
Ormenio-Burgas axis which will link Albania and the Black Sea
via the planned Egnatia highway.
The Greek side agreed to provide technical assistance in matters
related to the organization and operation of long-distance and
urban transport, the manufacture and operation of airports and
heliports as well as the training of coach drivers and air
traffic controllers.
It was also agreed that the conveyance of goods between the two
countries and the transit of goods should be allowed to proceed
freely without any quantitative restrictions.
[06] 'Foreign Affairs' article on Greece
New York, 31/12/1997 (ANA - M. Georgiadou)
The Greek government under Prime Minister Costas Simitis has
adopted a more international attitude, while Turkey must follow
the same path if it wants to become a member of the European
Union, according to an article in the US-based magazine "Foreign
Affairs".
"For the first time, Greece realized that it is a part of the
European Union and that its successes both in the political and
financial field depend on the relations Greece cultivates with
Europe and its Balkan neighbors," the article mentioned.
Bylined by Marcia Christoff Kurop, the article noted that
Greek-Turkish tension, mostly in the Aegean, is an obstacle to
the financial and political convergence with Europe, since
Greece spends some three billion US dollars a year for defense,
the highest per capita in NATO.
Ms Kurop also noted that the recent escalation of tension in
Cyprus is due to the purchase of the Russian-made S-300
anti-aircraft missile system by the Cypriot government, the
Greece-Cyprus joint defense doctrine and the upcoming
commencement of access ion talks between the island republic and
the European Union.
Finally, Ms Kurop wrote that Greece is concerned by the
Turkish-Israeli military pact, although it looks at the EU for
its political future and the US for military assistance.
[07] Yakovlev crew toxicology tests clean
Athens, 31/12/1997 (ANA)
Toxicology tests on the bodies of pilots and crew of the
ill-fated Yakovlev-42 which crashed onto the side of a mountain
near Thessaloniki on December 17 have shown no trace of alcohol
or narcotics use, authorities said yesterday.
Coroner Demetris Psaroulis said that the internal organs of the
three crew had undergone testing for eight categories of
narcotic substances and alcohol.
"They were all negative and the issue for us is now closed," Mr.
Psaroulis told reporters.
The Ukrainian airliner went down in the mountains of Pieria,
northern Greece, in as yet undetermined circumstances. The
wreckage was found after a three-day search hampered by snow,
fog and the rough terrain. There were no survivors of the 70
crew and passengers.
Another two bodies, belonging to Greek passengers Fotis Lepidis
and Evangelos Petsis, were identified by their relatives on
Monday night.
Mr. Psaroulis said that the process to recognize the bodies of
the victims had now effectively ended and that the bodies of two
young children not found had probably been completely
incinerated.
The total number of passengers on the plane is still a point of
contention, although the airline Aerosweet insists that the
plane was carrying only the passengers contained on their list.
Sources said that the Greek public order ministry had queried
the exact number of passengers on the plane to its Ukrainian
opposite number but had yet to receive a reply.
[08] ... Complaint filed over crash
Athens, 31/12/1997 (ANA)
Prodromos Emfietzoglou, the president of Mechaniki construction
firm, yesterday lodged a complaint requesting the initiation of
criminal proceedings against all those found responsible for the
air crash.
Twenty-three of Mechaniki's employees were on the plane when it
crashed. They were working on projects in Odessa and Mariupol
and were returning to Greece for the Christmas holidays.
The complaint lodged by Mr. Emfietzoglou calls for criminal
charges to be pressed against all those found responsible for
the crash of the airliner and the death of at least 71 people
aboard.
It claims that the crash came as a result of a series of
"illegal acts and negligence" on the part of a number of related
services and natural and legal persons, and notes that the
flight was carried out by a Yakovlev-42 rather than the aircraft
scheduled.
The complaint is being examined by a prosecutor and will most
probably be referred to the Public Prosecutor's Office of
Thessaloniki which has jurisdiction in the matter.
[09] Skopje FM says FYROM won't budge on the name issue
Skopje, 31/12/1997 (ANA - M. Vihou)
The Former Yugoslav Republic of Macedonia (FYROM) will take
recourse to the UN Security Council in an attempt to have a new
decision issued to replace an older one, which provided for the
establishment of the name FYROM, according to its foreign
minister Blagoje Hatjinski.
During an interview with state radio last night, Mr. Hatjinski
reiterated his country's fixed positions, namely, that there is
no room for a compromise solution over his state's name, nor the
language or borders.
Referring specifically on the issue of the name, which is the
center of a dispute with Athens, the FYROM foreign minister said
that the only acceptable solution was for the international
community to use the constitutional name for FYROM and for
Greece to use any other name it wished for its relations with
his landlocked state.
[10] Athens Academy awards
Athens, 31/12/1997 (ANA)
The Athens Academy last night handed out its annual awards
during its annual ceremony.
Awards were given to both individuals and collective works by
noted scientists and associations.
The gold medal for natural and political sciences was given to
Prordomos Emfietzoglou, president of the construction company
Mechaniki, for his national, social and cultural contribution.
In the same category, prizes were awarded to the National
Archaeological Museum Society, the children's cancer support
group "Hope", on behalf of which the award was received by its
president Marianna Vardinoyianni, and the Union of Greek Actors.
Prizes of 800,000 drachmas were granted to Kiki Dimoula for her
poetic collection "Oblivion's adolescence" and Costas
Stergiopoulos for his essay "Strolling".
Another award of 800,000 drachmas in the natural sciences
category was given to surgeon Vassilis Goletatis and his team.
The Athens Academy was awarded a gold medal to the Athens
Infants' Orphanage for its 140 years of service, as well as the
Athens Children's Hospital Agia Sophia.
[11] Karamanlis visits 'SOS' boys' home
Athens, 31/12/1997 (ANA)
Main opposition New Democracy party leader Costas Karamanlis
visited the children's villages SOS in Vari late yesterday
afternoon.
Mr. Karamanlis presented children at the institution with a
computer complete with CD ROMs featuring children's stories,
toys as well as geographic, encyclopedic and historical
references.
Mr. Karamanlis also promised the youths that when the national
soccer team plays its first match in Athens they will visit the
stadium together to watch the match.
[12] Kaklamanis
Athens, 31/12/1997 (ANA)
Parliament President Apostolos Kaklamanis said in his New Year's
address that "solidarity of society's members is a necessary
precondition for the maintenance of national unity," since
Hellenism is "experiencing difficult hours due to Turkish
hostility."
[13] 10 ancient, Byzantine shipwrecks pinpointed
Athens, 31/12/1997 (ANA)
The Underwater Antiquities Department has located a further 10
shipwrecks believed to be of major historical and archaeological
significance in the Saronic Gulf and the Myrtoo Sea.
According to a report sent by the culture ministry, a three-man
team for 10 days monitored the work of two professional divers
to record the sites.
It is certain that the discoveries will shed more light on the
history of shipping routes off the coasts of Attica and the
eastern Peloponnese.
Near the island of Aegina, two Byzantine wrecks were found, the
first with part of its cargo of 8th and 9th century amphorae
intact.
The second was carrying 10th century tiles and it is hoped that
parts of the vessel will be found intact, since it is buried in
the sand.
During the same 10-day mission, two wrecks of the Roman period
were discovered, one with more than 50 amphorae, used to carry
salty water for preserving food.
The second, lying at a greater depth, is most probably
undisturbed. Its cargo consists again of amphorae and common
household utensils. It has been dated between the 1st century BC
and the 1st century AD.
Perhaps the most important find is an ancient wreck with a cargo
of large tiles and cross-beams of the Laconian type. It is
believed that the vessel was sailing to the city of Alies
(present-day Porto Heli) with its cargo of construction
materials for some type of public building.
From the shape and size of the tiles, archaeologists have dated
the shipwreck between the 4th and 3rd centuries BC.
It is the first time that a wreck has been found in the
Mediterranean carrying a cargo of building materials from a tile
works. Due to the fact that the vessel is submerged in mud, it
is hoped that part of the hull will be intact.
Two more wrecks from historic times were also found - a warship
off Hydra with 21 cannons, and a trader carrying slabs of gray
limestone. Divers also discovered two lead anchors dating from
the Roman period, one bearing the letters ANA.
[14] Bregovic concert sees out Thessaloniki cultural capital year
Athens, 31/12/1997 (ANA)
Thessaloniki's year as Cultural Capital of Europe in 1997 ended
officially last night with a performance directed by Yugoslav
composer Goran Bregovic, televised live around the Balkans, and
with broadcasts to the US and Europe.
The stage and video show included Greek singers Giorgos Dalaras,
Yugoslav singer Zdravko Colic, 200 singers, dancers, musicians.
Mr. Bregovic composed a two-hour symphonic work, "Thessaloniki:
The Silence of the Balkans" especially for the concert.
[15] Evaluation of Thessaloniki's tenure as cultural capital begins
Athens, 31/12/1997 (ANA)
Evaluation of the work completed both in 1997, the year in which
Thessaloniki was the cultural capital of Europe, and in the
previous years of preparation for the organization are a
question of history and time.
This was stressed in an announcement covering many issued by the
"Organization Cultural Capital of Europe-Thessaloniki 1997."
A noteworthy decision was taken by the organization's board to
invite a British appraiser of the institution of cultural
capitals to go ahead with an assessment of the organization's
work, as he did with the other cultural capitals of Europe.
A conference is also proposed in mid-1998, focusing on the
overall assessment for 1997 and prospects being presented for
Thessaloniki in the years to come.
However, the organization is not waiting for this conference for
an assessment of its work, since it has already decided to draw
up and place at the disposal of citizens, the authorities and
agencies analytically the presentation of the work, utilizing
all means of communications, namely reports, electronic data and
publications.
The announcement stresses that "Thessaloniki will be the capital
of Culture in the years to come since the new institutions of
cultural and artistic creation will continue their work with a
different legal form and will meet, with the participation and
support of the city, the hopes which the expectation of their
creation had produced for decades."
It was further added that productive initiatives developed
during 1997 and international co-operation institutions enacted
did not merely promote the city's special character but also
constitute an investment for the future of great importance and
appeal .
The international significance was also stressed of leading
events taking place in 1997, such as the Treasures of Mount
Athos Exhibition (which will continue until April), art
exhibitions on Alexander the Great, the concert by the U2, and
other events.
[16] Sharp ND criticism over Gov't tax, economic policies
Athens, 31/12/1997 (ANA)
Main opposition New Democracy party parliamentary spokesman
Demetris Sioufas criticized the government yesterday for what he
called its sudden decisions and "taxation amok".
"Economic confusion set out in the budget and all that is taking
place these days with the government's new sudden decisions
confirm ND's accusations that we have a government and a 'prime
minister of taxes'," he said.
He said the government's "tax raid", following the increase in
deducted tax which constitutes compulsory loaning by the state,
proceeded with an increase in objective values up to 60 per cent
with a simultaneous increase in taxes for transferring real e
state up to 600 per cent, which is unprecedented and unheard of.
"Those who have started being paid salaries for January 1998 are
seeing as of today their salaries being less than the previous
month. The market is sending messages of despair these days due
to the economic decline and inertia. Ownership - small, medium
and big - is now clearly the central target of the uncontrolled
tax raid and indeed without a relevant taxation law being
ratified," he added.
[17] Natural gas flow to begin next week through Athens
Athens, 31/12/1997 (ANA)
Natural gas will flow through the Athens municipality network
next week as the Athens Municipal Natural Gas Enterprise (DEFA)
yesterday transferred its rights on the network to the Public
Natural Gas Enterprise (DEPA).
DEPA's network now extends to some 550 kilometers, mostly within
the greater Athens region.
On his part, DEPA president Christos Voudouris said that there
are possibilities of increasing its clients.
DEPA managing director Savvas Papaphilipou said that natural gas
will be used by residential, commercial and industrial clients
in Athens, Volos, Thessaloniki and by the Keratsini power plant.
[18] Fines for marine pollution
Athens, 31/12/1997 (ANA)
The merchant marine ministry yesterday imposed a 20 million dr.
fine on the captain, first mate and proprietors of an
Antigua-flagged freighter that had caused an oil slick off
Ikonio in October.
The "Katherine Borchard" had been responsible for a
two-kilometer long oil slick in the sea region off Ikonia on
October 7.
The ministry fined first mate Johann Eric Lockhorst and captain
Karl Heinz Hermann, both of Germany, and the company that owns
the ship over the incident.
[19] Int'l indoor athletics tournament in February
Athens, 31/12/1997 (ANA)
Leading athletes from all over the world will participate in the
international athletics meet "Athina", due to take place at
Peace and Friendship Stadium on Feb. 21, according to
participation declarations being received at the Amateur
Athletics Association (SEGAS).
So far, 311 male and female athletes have declared participation
in the indoor athletics event.
Among them is Charles Austin (US) who came first in high jump in
the Atlanta Olympics; Michael Green (US) who came second in the
60 meters dash in the 1997 World Indoor Athletics Championships
and Daniela Georgieva (Bulgaria) who came second in the 200
meters event in the 1995 World Indoor Athletics Championships.
[20] Greek stocks rebound on technical factors
Athens, 31/12/1997 (ANA)
Greek equities recovered substantial ground helped by technical
factors and bargain hunting buying on the Athens Stock Exchange,
reversing the previous day's sharp decline.
The general index closed 1.24 percent higher at 1,469.14 points.
Sector indices were mixed. Banks rose 1.46 percent, Insurance
eased 0.70 percent, Leasing increased 0.92 percent, Investment
rose 0.88 percent, Constructions fell 0.26 percent, Industrials
ended 1.48 percent up, Miscellaneous rose 1.22 percent and
Holding was 1.35 percent higher.
The parallel market index for small cap companies fell 0.17
percent, while the FTSE/ASE index ended 1.37 percent higher at
840.46 points.
Trading was heavy with turnover at 24.1 billion drachmas.
Broadly, advancers led decliners by 139 to 69 with another 30
issues unchanged.
Elfico, Alysida, Mochlos, Olympiaki Contractors scored the
biggest percentage gains, while Nematemboriki, Klaoudatos,
Mouriades and Dane suffered the heaviest losses.
National Bank of Greece ended at 24,700 drachmas, Ergobank at
14,460, Alpha Credit Bank at 16,460, Delta Dairy at 3,355, Titan
Cement at 12,810, Intracom at 13,055 and Hellenic
Telecommunications Organization at 5,845.
[21] National Bank nine months pre-tax profits up 71 pct
Athens, 31/12/1997 (ANA)
National Bank of Greece, the country's largest bank, reported a
71 percent rise in pre-tax profits in the period
January-September this year to 36.4 billion drachmas compared
with 21.3 billion in the corresponding period in 1996.
The bank said in a statement that a sharp rise in profits was
the outcome of higher provisions, at 50 billion drachmas, aimed
at restructuring the bank's loan portfolio based on
international standards.
National Bank said however that dividend payment would not be
affected by this high provisions.
The state bank reported a slower rate of operational spending to
an annual 8.1 percent in the first nine months of 1997, compared
to a 10.9 percent last year.
[22] Economic fundamentals on convergence track, report says
Athens, 31/12/1997 (ANA)
Recent disturbances in international markets have had a perverse
effect on Greek markets but higher real interest rates and
spreads over bonds were expected to wane as economic
fundamentals remain on the convergence track, Alpha Credit Bank
said in its December economic report.
The report said that convergence has suffered a setback since
the end of October due to the destabilizing effects of the
international markets on domestic money and capital markets,
pushing higher domestic interest rates.
Although exchange rate policy has emerged intact and the loss of
foreign exchange reserves was relatively small, higher rates had
burdened the road to normalcy.
The Greek government responded to the crisis by announcing a
bold 1998 budget, centered around raising new taxes and severely
restricting wage awards in the public sector.
Alpha Credit Bank said that the Bank of Greece, the country's
central bank, had successfully intervened to defend the drachma
and predicted that Greece's foreign exchange reserves stood at
about US$ 15.2 billion early December.
The report urged the government to speed up creation of a liquid
secondary market for fixed income instruments and the
establishment of a reliable benchmark long-term rate.
[23] European Union cohesion slower than expected
Athens, 31/12/1997 (ANA)
Hamburg, Brussels, Vienna, Bremen, Essen and Isle de France were
among the richest regions in the European Union, while Epirus,
several Greek Aegean islands, the Azores and French colonies
were among the poorer regions, according to an EU report.
The same regions were among the richest and poorer regions in
the European Union a decade ago, a sign that internal cohesion
was not moving as satisfactory as the European Community had
promised.
However, some wider regions, such as Greece and Portugal, were
able to meet higher growth rates than other more developed
regions in the EU.
Greece has reported growth rates of 2.03 percent and 2.38
percent in 1995 and 1996 respectively with a forecast of 3.0
percent growth rate this year.
According to the EU report, Hamburg tops the league of EU
regions based on per capital GDP in purchasing power units at
196 points, almost double the EU average of 100.
Brussels follow through at 183 points, Vienna at 158, and Isle
de France at 161.
On the other end, Epirus marked 43 points, the Azores 48 and the
northern Aegean islands 49 points, all less than 50 percent of
the EU average.
[24] Ermou mall officially opened
Athens, 31/12/1997 (ANA)
Athens' central Ermou St. pedestrian mall was officially opened
yesterday by Environment, Public Works and Town Planning
Minister Costas Laliotis and Athens Mayor Demetris Avramopoulos.
The 700 meter stretch of Athens' busiest shopping area has
undergone a facelift as part of the "Athens SOS" plan to upgrade
the city's central business "triangle" bounded by Mitropoleos,
Athinas and Stadiou Sts.
The area was closed to traffic nearly three years ago in an
attempt to reduce pollution and improve the quality of life in
the city center. The Ermou St. project was completed at a cost
of 2.2 billion drachmas.
Mr. Laliotis suggested that the street be renamed "The Antonis
Tritsis Pedestrian Mall" after the late mayor who had formerly
served as environment minister in a PASOK government. He also
suggested that Dionisiou Areopagitou St. be renamed "Melina
Mercouri Pedestrian Mall" after the late actress and culture
minister.
[25] ATE contract with int'l consortium
Athens, 31/12/1997 (ANA)
The Agricultural Bank of Greece (ATE) signed a contract earlier
this month with a consortium that includes the firms Intrasoft,
Monitor, Ernest Young, Hay and others.
The cost of the project is estimated at 5.5 billion drachmas and
includes market strategy, the bank's general organization,
management of personnel and the introduction of new informatics
technology.
[26] Christodoulakis says interest rates on downward trend
Athens, 31/12/1997 (ANA)
Speaking during a press conference yesterday, Finance
Under-secretary Nikos Christodoulakis referred to developments
relating to interest rates, which as he predicted were
de-escalating after a recent crisis.
The under-secretary said that the reduction in interests rates
will be assisted by the state's increased borrowing needs, which
in 1998 will be higher by two trillion drachmas.
In January, the finance ministry will borrow 300 billion
drachmas, while in the first half of the year the state will
need to borrow another 520 billion.
Mr. Christodoulakis further said that tax on treasury bills for
the series to be issued on Jan. 2 will remain at 7.5 per cent,
while the following series will be taxed at 10 per cent.
[27] Sale of bourse shares completed
Athens, 31/12/1997 (ANA)
The sale of shares for the state-run Athens Stock Market -
Chrimatistirio Axion Athinon S.A. - to various categories of
investors has been completed.
According to figures, investors were provided with 1,983,270 of
the company's shares (39.67 per cent of the total figure) for
about 23 billion drachmas. Following this development, the share
register of the company "Chrimatistirio Axion Athinon S.A." was
shaped as follows:
Greek state 60.33 per cent; bourse companies 3.08 per cent;
credit institutions 22.70 per cent; companies registered with
the Athens Stock Exchange 5.55 per cent; insurance companies
1.58 per cent; mutual funds 2.36 per cent; insurance funds 3.04
per cent and investment companies 1.35 per cent.
[28] Quality label for locally made handicrafts
Athens, 31/12/1997 (ANA)
A new measure for the protection of the local handicrafts market
from imports will be taken next month, according to the
president of the Association of Handicrafts Manufacturers (BLT).
BLT President Odysseas Koumatos, who was speaking during a press
conference yesterday, said a quality label will be attached on
all local products sold at handicrafts shops. The quality label
will be supplied by EOMMEX.
He also charged that imported handicraft items and a
'self-styled' control of the market by tourist coaches stopping
only at specific shops was a major blow to the sector.
Mr. Koumatos, who called on the state to intervene, said that
unless the National Tourist Organization (EOT) took proper
measures to eliminate such phenomena, then local shopowners'
associations and the BLT will go ahead with industrial action.
The annual exhibition of the BLT Attica will be held Jan. 8-11
at the OLP building in Piraeus, with the participation of 400
handicrafts manufacturers across the country.
[29] KKE, Synaspismos harshly criticize Cosmote
Athens, 31/12/1997 (ANA)
The Coalition of the Left and Progress (Synaspismos) party
yesterday called for immediate intervention by the Hellenic
Telecommunication Organization (OTE) and the replacement of the
directors of its mobile telephony company Cosmote.
Referring to the issue, an announcement by the Communist Party
of Greece (KKE) attributes grave political responsibilities to
OTE's administration and the leadership of the transport and
communications ministry, "after the surprise decision by Cosmote
not to accept other advance pre-registrations."
KKE assesses that the 300,000 applications signaled the danger
of overturning the "oligopolistic status", as it noted, created
by the multinationals Stet and Panafon.
End of English language section.
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