Athens News Agency: Daily News Bulletin in English, 98-01-13
From: The Greek Press & Information Office, Ottawa Canada <grnewsca@sympatico.ca>
ATHENS NEWS AGENCY BULLETIN (No 1388), January 13, 1998
Greek Press & Information Office
Ottawa, Canada
E-Mail Address: grnewsca@sympatico.ca
CONTENTS
[01] Athens initiative for Olympic armistice accepted by IOC head
[02] ... 2004 committee
[03] ... Venizelos-Samaras meeting on Athens 2004
[04] Stephanopoulos arrives for official visit to India
[05] Greece, 18 other nations sign CoE protocol banning human cloning
[06] Greece rejects US ambassador's statements on airspace
[07] Kranidiotis briefs Turkish envoy on Greek, EU positions
[08] Kranidiotis receives Albanian Education Minister Ruka
[09] Gov't reiterates support for political solution to Kurdish
problem
[10] Elderly Iraqi Kurd woman dies trying to reach Greece
[11] ... One Albanian killed, two wounded in farmhouse shoot-out
[12] Chirac on Greek-Turkish tension
[13] Simitis-Kaklamanis meeting
[14] Combating drug addiction the focus of meeting with Swiss
official
[15] Best athletes of '97 named
[16] Turkish party says re-opening of Halki Theology School a 'danger'
[17] ... Fire at Patriarchate chapel
[18] ... Vartholomeos receives Anastasios
[19] New Schengen visas on the way
[20] ... Calls for speedier visa processing
[21] FYROM suspends granting of visas to Greek nationals at border
posts
[22] Romeos meets new ambassadors
[23] Antenna daily program disrupted as part of ERS penalty
[24] Bulgaria returns missing manuscript to Greek monastery
[25] Coast Guard gets state-of-the-art patrol boat
[26] Open-air markets closed again today
[27] Eurocourt rules in favor of Athens over German pension funds'
practice
[28] Spraos report on public administration today
[29] Greek stocks hit by money market turmoil
[30] Government says speculators will lose the battle for the drachma
[31] Six public enterprises to be partly privatized in 1998
[32] Greece's mutual funds assets rise 92 pct in 1997
[33] Commercial banks raise interest rates
[34] National Bank governor visits South Africa
[35] Nestos hydro-electric power project completed
[01] Athens initiative for Olympic armistice accepted by IOC head
Lausanne, 13/01/1998 (ANA)
The idea of reviving the ancient Greek custom of the Olympic
armistice was accepted following a meeting here yesterday
between International Olympic Committee (IOC) President Juan
Antonio Samaranch and Alternate Foreign Minister George
Papandreou.
During the more than one-hour meeting, it was decided that the
Greek initiative for a cease-fire of hostilities during Olympic
Games be adopted, and for a center be established in ancient
Olympia to promote the entire idea.
Mr. Papandreou expounded on Greece's plans for this initiative,
and said it was part of commitments undertaken by Athens for the
hosting of the 2004 Games.
Mr. Samaranch appeared to have responded positively to the Greek
initiative and invited Athens to officially present further
details at an IOC meeting in Nagano, Japan, just a few days
before the opening of the 1998 Winter Olympics.
According to reports, Mr. Samaranch is planning to visit Athens
soon for talks with Greek officials.
Mr. Papandreou said that a number of meetings will be held from
now on with international dignitaries, aimed at further
promoting the idea.
[02] ... 2004 committee
Athens, 13/01/1998 (ANA)
On his part, government spokesman Demetris Reppas yesterday
announced that the inter-ministerial committee for the 2004
Olympics will meet on Wednesday to discuss preparations for the
Games.
Mr. Reppas said that the names of the heads of the organizations
which will work for the 2004 Olympics will not be announced,
adding that the prime minister is dealing with the matter while
announcements will be made in due course.
[03] ... Venizelos-Samaras meeting on Athens 2004
Athens, 13/01/1998 (ANA)
Culture Minister Evangelos Venizelos held talks yesterday with
Political Spring party leader Antonis Samaras on the 2004
Olympic Games. During the meeting, held at the culture ministry,
Mr. Venizelos briefed Mr. Samaras on the government's proposals
and, on his part, Mr. Samaras outlined his party's positions on
the issue.
[04] Stephanopoulos arrives for official visit to India
New Delhi, 13/01/1998 (ANA - N. Megadoukas)
President of the Republic Kostis Stephanopoulos arrived in the
Indian capital last night, the first stop of a six-day official
visit to the subcontinent. The president is accompanied by
Foreign Minister Theodoros Pangalos and National Economy
Under-secretary Alekos Baltas. After laying a wreath at the
Mahatma Gandhi monument this morning, Mr. Stephanopoulos will
meet outgoing Prime Minister Ider Kumar Guzral and other
political party officials.
In addition, a dinner in honor of the Greek president will be
hosted by his Indian counterpart K.I. Narayanan in the evening.
[05] Greece, 18 other nations sign CoE protocol banning human cloning
Paris, 13/01/1998 (ANA - O. Tsipira)
Nineteen countries, including Greece, last night signed a
Council of Europe (Coe) protocol banning the cloning of the
human species, the first text of international law on the
controversial issue.
"In an age when many voices are being raised in support of the
cloning of the human species, and indeed are asking for its
acceleration, it is very important for Europe to officially show
its resolve to defend human dignity vis-a-vis the risks arising
from certain scientific applications," CoE Secretary-General
Daniel Tarschys said in a press conference before the signing.
The protocol is complementary to the CoE's Human Rights
Convention, known as the Oviedo Convention.
Mr. Tarschys said the protocol was open for signing by all 40
members of the CoE, but also to the countries that participated
in its drafting, namely, Australia, Canada, the United States,
Japan and the Vatican.
A condition, however, is the prior signing of the Oviedo
Convention.
In addition, observers were posing serious question of how
effective the protocol could be when countries such as Germany,
Britain and Russia were not among the signatories.
In statements to ANA, Greece's representative, Ambassador
Ioannis Boukaouris, said the signing of the protocol was a
confirmation of the government's political will that the
production of human copies was an undesirable prospect.
"It would be paradoxical for Greece, the cradle of humanism, not
to participate in an effort undertaken on a world scale," he
said.
[06] Greece rejects US ambassador's statements on airspace
Athens, 13/01/1998 (ANA)
Greece's sovereign rights are not up for negotiation, government
spokesman Demetris Reppas said yesterday, in reference to recent
statements by US ambassador to Athens Nicholas Burns regarding
Greece's airspace limits.
Mr. Reppas said Mr. Burns' statements were "nothing new" and
part of US policy.
Mr. Burns on Friday reiterated Washington's stance that the
limits of each country's airspace should correspond to those of
its territorial waters, meaning that the US recognizes a
six-mile limit for Greek airspace.
National Defense Minister Akis Tsohatzopoulos said on Saturday
that Greece had a 10-mile limit, as clearly set out in a 1931
presidential decree.
"The Greek government continues to have its own policy," Mr.
Reppas said.
Meanwhile, the Communist Party of Greece (KKE) yesterday also
focused on the statement by Mr. Burns regarding Greek airspace
limits, saying it was the first time in many years that
Washington's ambassador "expressed himself so openly and
unequivocally."
"Statements by US ambassador Nicholas Burns on airspace
constitute official and direct questioning of our country's
sovereign rights," an announcement by KKE read.
KKE also criticized the PASOK government that "in the framework
of adjustment to the plans of the new world order it is
proclaiming the US and NATO a security umbrella in the area,
putting the wolves to tend to the sheep."
The announcement also refers to "an effort by the defense
minister to downgrade the significance of the Burns statements",
attempting a cover-up.
[07] Kranidiotis briefs Turkish envoy on Greek, EU positions
Athens, 13/01/1998 (ANA)
Foreign Under-secretary Yiannos Kranidiotis yesterday briefed
Turkish Ambassador in Athens Ali Tinaz Tuygan on Greece's
position regarding recent developments in relations between the
European Union and Turkey, according to informed sources. The
meeting took place at the ambassador's request.
Mr. Kranidiotis is reported to have told the ambassador that
Greece was not in principle against a European vocation for
Turkey, that it desired and supported such a development in so
far as Turkey decided to recognize and respect the same
principles and rules as all EU member states as well as other
states that wished to join the EU.
The under-secretary reiterated that this reasoning was reflected
in the decisions taken at last month's Luxembourg summit, which
he said Turkey should accept. According to the same sources, Mr.
Kranidiotis strongly condemned the most recent violations of
Greek air space by Turkish air force planes as well as the
generally provocative behavior of Turkey over the past few days.
[08] Kranidiotis receives Albanian Education Minister Ruka
Athens, 13/01/1998 (ANA)
Foreign Under-secretary Yiannos Kranidiotis met visiting
Albanian Education Minister Ethem Ruka and under-secretary A.
Marto in Athens yesterday. Discussion focused on furthering the
very good co-operation existing between Greece and Albania in
the education sector, as well as on prospects for a bilateral
educational agreement.
[09] Gov't reiterates support for political solution to Kurdish
problem
Athens, 13/01/1998 (ANA)
Greece supports a political solution to the problem of the
Kurds, Foreign Under-secretary Yiannos Kranidiotis said in
response to a question in Parliament yesterday.
He added that Greece had already accepted many Kurdish refugees,
but could not give political asylum to all of them, although
conditions were improving for them daily as new sites were found
for them in various parts of Greece.
In a related development, 21-year-old Kurdish journalist Hodor
Salah resorted to a rather painful way of impressing his need to
be granted political asylum.
While in detention, three days after being arrested near the
Evros River, which he crossed from Turkey, he sewed his lips
with thread and needle.
After being taken to hospital in Alexandroupoli, and persuaded
that his request would be examined on merit, the man consented
to having the stitches removed.
[10] Elderly Iraqi Kurd woman dies trying to reach Greece
Athens, 13/01/1998 (ANA)
An elderly woman among a group of 30 Iraqi Kurds trying to reach
the Dodecanese island of Kastellorizo early yesterday was thrown
against rocks by the rough seas and drowned while attempting to
reach shore from a wooden boat.
Apparently the woman had become wedged in the rocks. Coast guard
officials who were called to the scene by a passing fishing boat
were unable to save the woman.
The survivors, 12 men, six women and 11 children, will be taken
to Rhodes today.
The Kurds told the authorities they had paid two Turks 1000
dollars each to take them from the Turkish port of Kas. They
were put aboard a seven-meter boat and towed halfway towards
Kastellorizo. The Turks then left them to make their own way
ashore and returned to the Turkish coast.
Coast guard authorities believe one of the Turks to be Ali
Pahlilan, who has allegedly transported dozens of boatloads of
Kurds to the Dodecanese.
[11] ... One Albanian killed, two wounded in farmhouse shoot-out
Athens, 13/01/1998 (ANA)
One Albanian illegal immigrant was killed and two others were
critically wounded early yesterday when an unidentified person
opened fire against them near a farm in Imathia, northwestern
Greece, police said.
Witim Uka, 26, succumbed to his wounds and died in hospital in
nearby Naousa, where he and the other two Albanians, Misir Uka,
23, and Ali Boundani, 17, were taken by a police patrol. All
three came from Elbashan.
Police told the ANA that the three were sleeping in a storehouse
on a farm when the attacker, who, they said, spoke Greek, came
in at dawn and asked for the whereabouts of a fourth Albanian
who was not with them at the time. He then opened fire and
disappeared. Police have launched a manhunt for the suspected
killer.
[12] Chirac on Greek-Turkish tension
Paris, 13/01/1998 (ANA - O. Tsipira)
French President Jacques Chirac yesterday commented on the
recent tension in the Aegean, saying "I'm sorry for the tension
which exists between Greece and Turkey. A better solution can
and must be found."
"I am sorry for the results of the Luxembourg summit as far as
Turkey is concerned. I did as much as possible for Turkey and
the role it must play in Europe," he added.
He also said that Ankara's relations with Paris and Europe are
very important and that there is a place for Turkey in Europe.
[13] Simitis-Kaklamanis meeting
Athens, 13/01/1998 (ANA)
Prime Minister Costas Simitis yesterday met Parliament President
Apostolos Kaklamanis within the framework of the premier's
contacts with high-ranking PASOK officials.
Later in the day, Mr. Simitis was scheduled to meet ministers
Stephanos Tzoumakas, Christos Protopapas, Miltiadis Papaioannou
and PASOK cadre Stephanos Manikas.
[14] Combating drug addiction the focus of meeting with Swiss
official
Lausanne, 13/01/1998 (ANA)
Alternate Foreign Minister George Papandreou yesterday discussed
issues related to drug addiction with Justice and Public Order
Minister of the Swiss canton Des Vaux, Joseph Zisiades.
He proposed the Swiss official's participation in a series of
open debates in European countries, aimed at combating drug
addiction through the liberalization of relevant legislation.
Mr. Zisiades detailed an experimental program currently applied
in Switzerland with encouraging results, through monitoring
addicts and implementing methods of fighting their dependence.
[15] Best athletes of '97 named
Athens, 13/01/1998 (ANA)
The Panhellenic Sports Press Association (PSAT) yesterday named
javelin thrower Costas Gatsioudis and long-jumper Niki Xanthou
the best athletes of 1997, while the European basketball
champion Olympiakos was named the best team of the year.
The awards ceremony took place at the Peace and Friendship
Indoor Stadium in Faliro. The country's sports leadership,
ministers, deputies and journalists were present during the
ceremony.
[16] Turkish party says re-opening of Halki Theology School a 'danger'
Istanbul, 13/01/1998 (ANA - A. Kourkoulas)
The re-opening of the Halki School of Theology is "a danger to
Turkey", according to a spokeswoman for the Turkish party
Nationalistic Action (MHP).
"The (Ecumenical) Patriarchate, as well as the priests who
graduated from the school of theology are still attempting to
create trouble for Turkey's independence", MHP spokeswoman
Houlia Karadeniz told the Anadolu news agency.
She even mentioned the names of "Iakovos, Aimilios, Meliton,
Athinagoras, Makarios and Sryridon" as examples of Orthodox
clergymen who she claimed worked against Turkey.
The spokeswoman told Anadolu she was totally opposed to all
those who claimed that the re-operation of the Halki School of
Theology would not be to Turkey's benefit.
"Since his appointment in 1991, Patriarch Vartholomeos' behavior
has created a state within a state".
[17] ... Fire at Patriarchate chapel
Istanbul, 13/01/1998 (ANA - A. Kourkoulas)
A fire at a small chapel in Istanbul was extinguished yesterday,
without causing any serious damage, according to eyewitnesses.
The fire broke out at 5:30 p.m. afternoon in the Sacred Source
of Aghios Therapontas, in the Sirketzi district.
The cause of the fire was attributed to lit candles.
[18] ... Vartholomeos receives Anastasios
Istanbul, 13/01/1998 (ANA - A. Kourkoulas)
Archbishop Anastasios of Albania paid a one-day visit to the
Patriarchate, where he held lengthy talks with Ecumenical
Patriarch Vartholomeos and members of a Patriarchate delegation
which had visited Albania last October.
According to reports, Archbishop Anastasios briefed the
Ecumenical Patriarch on the latest developments in Albania.
During a meeting with the delegation last October, the Albanian
government had refused to allow the Holy Synod of Albania's
Autocephalous Orthodox Church to be comprised exclusively of
members holding a Greek nationality.
However, an announcement after the October meeting stated that
"it was possible to arrive at a mutually acceptable solution,
and that dialogue will be targeted toward this direction."
[19] New Schengen visas on the way
Athens, 13/01/1998 (ANA)
Foreign Under-secretary Yiannos Kranidiotis has sent directives
to all Greece's embassies abroad with regard to the new policy
on issuing visas in connection with the country's commitments
under the Schengen Agreement, it was announced yesterday.
Schengen regulations will apply for citizens of Balkan, central
and eastern European states, as well as those of the
Commonwealth of Independent States, who will be entitled to
multiple-entry visas of a one to three month duration. Only in
exceptional circumstances will visas for Greece alone be issued.
Albanian citizens will be issued Greek visas of between three
and thirteen months duration, which can, in some cases, be
extended to five years.
Schengen regulations will apply to all other countries.
[20] ... Calls for speedier visa processing
Athens, 13/01/1998 (ANA)
Northern Greek commercial unions are calling for a solution to
delays in issuing visas at Greek consulates in Balkans states,
whose visitors to Greece spend an average 1,000 dollars per day,
according to Thessaloniki Commercial Association president
Demetris Demetriadis.
At a press conference in Thessaloniki yesterday, it was stressed
that the queues outside consulates in Balkan countries had
doubled since Greece signed the Schengen Agreement.
The unions have called for increased staffing at consulates
where necessary and have offered to contribute equipment to help
speed up the process.
Mr. Demetriadis accused the government of not fully realizing
the importance to the economy of foreign exchange inflows from
the Balkans, saying that each visitor from the Balkans spends an
average of 1,000 dollars per day in Greece.
Also addressing the press conference were the presidents of the
commercial and technical chambers of Thessaloniki, as well as
the commercial associations of Pieria and Kavala.
[21] FYROM suspends granting of visas to Greek nationals at border
posts
Skopje, 13/01/1998 (ANA/AFP)
The Former Yugoslav Republic of Macedonia's (FYROM) foreign
ministry announced yesterday that it will suspend the issuing of
visas to Greek nationals at its border posts.
This measure comes after a Greek government decision last
November affecting visas for entry into Greece by FYROM
nationals.
Visas will be issued at each country's respective liaison office.
[22] Romeos meets new ambassadors
Athens, 13/01/1998 (ANA)
Public Order Minister George Romeos held a series of protocol
meetings yesterday with several new ambassadors recently
accredited to Athens, including envoys from the United States,
Turkey, Albania and the Czech Republic.
During his meeting with US ambassador Nicholas Burns an
extensive discussion was held on the issue of co-operation
between the law enforcement agencies of Greece and the US in
dealing with organized crime and terrorism, as well as on
training matters. Both sides stressed that co-operation so far
between the two countries was excellent.
Mr. Romeos later met the Turkish ambassador, Ali Tinaz Tuygan,
to whom he reiterated the Greek government's positions on the
issue of Kurdish refugees.
The Greek public order minister told the Turkish ambassador that
unless Ankara took effective measures, the problem will increase
alarmingly.
During a subsequent meeting with the Albanian ambassador to
Greece, Mr. Rodo, it was decided to supply bullet-proof vests
and uniforms to a special police unit of about 100 men, formed
at the initiative of the Western European Union to deal with
crime in southern Albania.
Finally, Mr. Romeos had a meeting with Vladimir Zavazal, the new
ambassador of the Czech Republic to Greece.
[23] Antenna daily program disrupted as part of ERS penalty
Athens, 13/01/1998 (ANA)
The private television channel Antenna will have to disrupt its
program daily as part of a penalty imposed by the National
Radio-Television Council (ERS).
According to government spokesman Demetris Reppas, the order for
disruption to the station's daily program was signed yesterday,
in accordance with a previous ERS decision.
Regarding the economic part of a hefty penalty (100 million
drachmas), Press Minister Demetris Reppas said a summons had
been forwarded to Antenna by relevant authorities.
[24] Bulgaria returns missing manuscript to Greek monastery
Athens, 13/01/1998 (ANA)
A priceless manuscript written at a Mt. Athos monastery 235
years ago is on its way back from Bulgaria where it was found
last year after being stolen from the Zografos monastery in 1985.
The manuscript, written by the monk Paisios, details
Slavo-Bulgarian history and is considered by Bulgarians to have
laid the foundations for the country's cultural rebirth.
Despite opposition, Bulgarian President Peter Stoyanov decided
to return the document to Mt. Athos' Zografos monastery.
Seventy-five percent of citizens polled by the Bulgarian state
radio "Horizon" were against the move.
The document was discovered in September last year at Sofia's
National History Museum, where it had been handed in by an
"anonymous donor".
The document is being brought to Greece by road, accompanied by
the Bulgarian culture under-secretary and the president's chief
of staff who are to be met at the border by a heavy police
contingent. The document will be kept at Thessaloniki's
Bulgarian Consulate overnight and handed over in a special
ceremony at Karyes, on Mt. Athos, today.
[25] Coast Guard gets state-of-the-art patrol boat
Athens, 13/01/1998 (ANA)
The Igoumenitsa coast guard has just acquired a new 40ft patrol
boat equipped with the latest technology in order to boost its
ability to stop the entry of Albanian criminals to Greece via
the Ionian Sea. A similar boat has been acquired by the Corfu
coast guard.
The Italian-made boats, capable of reaching speeds of 60 knots,
have been donated to the coast guard by the Laskaridis family.
Meanwhile, 26 kilos of cannabis were found by the Ioannina drug
squad in the petrol tank of a truck bearing Albanian number
plates.
The truck had been left parked at the Kakavia border post by
Gramos Dida, 46, who escaped arrest. Three other Albanians,
however, were arrested after they removed travel documents from
the truck and attempted to cross back over the border.
Over the last three days, 696 Albanians have been arrested in
Epirus while trying to enter Greece illegally. All have been
deported.
[26] Open-air markets closed again today
Athens, 13/01/1998 (ANA)
The country's open air fruit and vegetable markets will remain
closed today for a second day in protest over an increase in the
merchants' annual lump sum taxation payment from 120,000
drachmas to 180,000 drachmas.
In a meeting yesterday between the Panhellenic Federation of
Producers' and Merchants' Associations, Finance Minister George
Drys and Commerce counterpart Mihalis Chrysihoidis, Mr. Drys
made counterproposals to some of the merchants' economic claims.
The striking merchants are also calling for a halt on issuing
licenses to hawkers, and that a proposal for a ceiling on the
prices of fruit and vegetables be withdrawn.
Mr. Chrysohoidis promised action on the issue of hawkers'
licenses.
According to the federation's president Panayotis Moshos, there
are around 10,000 producer-merchants in Athens and 28,000 in the
country as a whole.
[27] Eurocourt rules in favor of Athens over German pension funds'
practice
Brussels, 13/01/1998 (ANA - P. Pantelis)
The European Court has called into question legal procedures of
German courts and the practices of Bonn's social insurance
services, which systematically rejected Greek corrective birth
certificates for Greek nationals working in that country for the
purpose of pensioning.
The European Court maintained that German courts must judge each
case separately on the basis of specific evidence.
The Eurocourt's ruling ended a long-standing dispute between
Bonn and Athens, and which had upset the European Commission's
relevant services, most of whom supported the German positions.
It appears that the issue had also divided the European Court,
which had delayed a year before reaching its verdict.
The issue had been raised by Greek national Efthalia Dafeki, who
had worked in Germany, with the Community Court in Hamburg
because her pensioning fund in Germany had refused to accept a
correction in her date of birth by Greek law courts.
The case, which is not unique in its kind, was then referred to
the European Court by the court in Hamburg.
The European Court concluded that community services and the
courts of a member-state must respect relevant certificates from
another member-state, at least when their accuracy is not
disputed with specific indications.
[28] Spraos report on public administration today
Athens, 13/01/1998 (ANA)
Prof. Ioannis Spraos, the prime minister's adviser, will release
a report today on public administration during a press
conference.
The report is already in the hands of the Premier Costas Simitis.
According to a report in Jan. 2 issue of the Sunday paper "To
Vima", Mr. Spraos is proposing the establishment of a department
of high-ranking executives, which will be independent from the
rest of the civil service hierarchy, and will occupy the top
positions in all ministries and public organizations.
He is also proposing, according to the same publication, the
establishment of a special body of economists, who will measure
the cost of services, a committee of experts that will check on
regulations and draft a quality charter as well as create
mechanisms measuring the efficiency of public services.
[29] Greek stocks hit by money market turmoil
Athens, 13/01/1998 (ANA)
Greek equities plunged yesterday to their lowest levels since
November 25, 1997, reeling from the turmoil in international and
domestic money markets.
The Athens Stock Exchange general price index plunged 5.08
percent to end at 1,405.37 points. Traders said the market was
particularly concerned over prospects of higher interest rates
in the Greek market, likely to hit the banking sector's
profitability.
The Greek drachma, however, remained stable in the domestic
foreign exchange market. Its parity was steady against the ECU,
DMark and US dollar, while a Bank of Greece source reported
inflows of more than 100 million US dollars.
Analysts and bankers agreed that the government's hard drachma
policy, using high interest rates to defend the drachma from
external pressures, would lead to a volatile interbank market,
higher inflation and interest rates.
Such a likelihood would have a severe impact on most listed
companies, due to higher debt servicing.
Interbank rates though remained at high levels to an average of
20 percent and more.
On the bourse, sector indices lost substantial ground. Banks
ended 6.02 percent down, Insurance eased 3.61 percent, Leasing
dropped 3.98 percent, Investment fell 3.62 percent,
Constructions ended 5.31 percent off, Industrials lost 4.25
percent, Miscellaneous eased 2.98 percent and Holding was 4.09
percent down.
The parallel market index for small cap companies dropped 3.78
percent, while the FTSE/ASE index ended 5.79 percent off at
786.30 points.
Trading was heavy with turnover at 17.7 billion drachmas.
Broadly, decliners led advancers by 201 to 19 with another 9
issues unchanged.
Desmos, Constantinidis, Remek and Levenderis scored the biggest
percentage gains, while Eteva, Atemke, Atticat, Singular and
Delta Informatics suffered the heaviest losses at the day's down
limit of 8.0 percent.
National Bank of Greece ended at 21,995 drachmas, Ergobank at
13,430, Alpha Credit Bank at 14,705, Delta Dairy at 2,900, Titan
Cement at 13,050, Intracom at 13,600 and Hellenic
Telecommunications Organization at 5,405.
[30] Government says speculators will lose the battle for the drachma
Athens, 13/01/1998 (ANA)
Government spokesman Demetris Reppas was adamant yesterday that
speculators would lose their battle against the drachma.
He reiterated that the government was ready to face all possible
scenarios but acknowledged that the government was expecting
pressures against the Greek currency to continue for several
months.
Mr. Reppas stressed that there would be no changes in the
government's privatization program.
[31] Six public enterprises to be partly privatized in 1998
Athens, 13/01/1998 (ANA)
Six public utility and state-controlled enterprises will be
partly privatized in 1998 in Greece, a national economy ministry
statement issued yesterday said.
A meeting on procedures and timetables for the privatization of
Athens Water Company, Olympic Travel, Olympic Catering, the
State Real Estate Agency, Thessaloniki International Fair and
Corinth Canal, chaired by National Economy and Finance Minister
Yiannos Papantoniou, decided to speed up valuation of public
enterprises to facilitate their flotation through the stock
market, or sale of minority stakes to private investors in the
current year.
[32] Greece's mutual funds assets rise 92 pct in 1997
Athens, 13/01/1998 (ANA)
Greece's mutual funds assets rose a spectacular 92.16 percent in
1997 to a total of 7.319 trillion drachmas at the end of the
previous year.
According to figures released yesterday by the Federation of
Greek Institutional Investors, the country's 161 mutual assets
composition based on asset volume was: Money market 61 percent,
Bonds 27.45 percent, Combined 8.25 percent and Equity 3.30
percent.
Out of a total of 29 mutual funds companies operating in Greece,
10 were handling 80 percent of the market's share.
[33] Commercial banks raise interest rates
Athens, 13/01/1998 (ANA)
Two of the largest private commercial banks operating in Greece
yesterday decided to raise their deposit and lending rates.
Citibank, a subsidiary of US bank Citicorp, raised its consumer
lending rate by one percentage point to 21.50 percent, while
Xiosbank, a Greek listed bank, announced a 25 basis points rise
in its Xiosalma deposit rate to 11 percent.
[34] National Bank governor visits South Africa
Athens, 13/01/1998 (ANA)
The governor of National Bank of Greece, the country's largest
bank, Theodoros Karatzas is visiting Johannesburg, South Africa,
to chair the bank's subsidiary South African Bank of Athens Ltd.
shareholders' annual meeting.
During his visit, Mr. Karatzas will meet with the country's
Finance Minister Trevor Manuel and South Africa's central bank
governor Dr Chris Stals.
Mr. Karatzas will also meet South African businessmen and
representatives of the Greek community in South Africa.
[35] Nestos hydro-electric power project completed
Athens, 13/01/1998 (ANA)
A third power unit in the hydro-electric project on the Nestos
river was linked with Greece's national power grid network
yesterday, completing the project's operation.
The Nestos river power project is one of the most important
power projects in Greece and along with a combined power natural
gas station to be built in Komotini, forms the new energy center
in northeastern Greece, part of the Egnatia power project.
End of English language section.
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