Athens News Agency: Daily News Bulletin in English, 98-04-29

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From: The Athens News Agency at <http://www.ana.gr/>

CONTENTS

[01] Christodoulos of Dimitrias elected new Archbishop of Athens and All Greece

[02] Bank of Greece forwards monetary report to Parliament for first time

[03] Inter-Orthodox conference in Thessaloniki

[04] Clinton condolences for Karamanlis

[05] Greece dismisses latest Turkish provocation in the Aegean

[06] Tsohatzopoulos receives Slovakian parliamentarian Andrejeak

[07] Paschalidis in London for talks

[08] Bulgarian official says new formula needed for pipeline

[09] Murder of Nigerian man condemned

[10] Athens expresses concern over latest tension in Kosovo

[11] Skandalidis-Burns meeting

[12] Italy's Andreatta in Athens today

[13] Tzoganis winds up Yugoslav visit

[14] Simitis says gov't will guarantee effective social policy

[15] OTE share sale to institutional investors

[16] Commercial Bank of Greece launches new phone banking service

[17] Discussion on bill for Bank of Greece's charter

[18] OA, pilots reach agreement on overtime, summer schedule

[19] Toll post officials to stage Mayday weekend strike

[20] Papantoniou rejects talk of new devaluation

[21] Greek stocks rebound to gain 6.31 pct

[22] Thessaloniki's Macedonia Airport likely to close May 8-12 for repairs

[23] Northern Greece uses EU funds for Internet tourism access

[24] Development ministry aims to improve competitiveness in 1998

[25] WTO to hold seminar on euro,tourism aboard ship

[01] Christodoulos of Dimitrias elected new Archbishop of Athens and All Greece

Athens 29/04/1998 (ANA)

In the first two rounds of voting none of the 10 candidates gained the necessary 39 votes to be elected. A simple majority was required in the third round, in which Christodoulos received 49 votes.

Christodoulos was elected by the country's 77 Metropolitans to succeed Archbishop Serapheim, who died earlier this month.

In a speech after his election and amidst applause by a crowd that had gathered outside the Athens Metropolitan Cathedral, the new Archbishop reassured the clergy and laypeople that he felt strong enough to serve the interests of the Church and its open ing towards the people, especially the younger generations.

Christodoulos also said he will make efforts to acheive closer relations with the Ecumenical Patriarchate.

Addressing Education and Religious Affairs Minister Gerasimos Arsenis, Christodoulos reassured him that he will work closely with the state.

Asked whether he was going to invite Ecumenical Patriarch Vartholomeos to Athens, the new Archbishop said: "It will be one of my first concernsIon the other hand, the Fanar will be my first visit of Orthodox Churches".

He added that he would also meet Prime Minister Costas Simitis after his enthronement, which according to sources, will take place during a special ceremony probably next Saturday or Sunday.

According to Church officials, Christodoulos' election will be recorded in the country's religious history as the most democratic one, while it was the first time that the state did not interfere with the entire process.

The state, however, was represented in the process by Mr. Arsenis, who attended the electoral procedure. Afterwards, Mr. Arsenis also spoke of an entirely democratic election.

Upon receiving the news of Christodoulos' election, Ecumenical Patriarch Vartholomeos sent a telegram of congratulations, stating:

"The Mother Church and I personally congratulate Your Beatitude on Your worthy election as Head of the friendly sister Holy Church of Greece..."

President of the Republic Kostis Stephanopoulos also sent congratulations.

"I wish you substantial and constructive work for the benefit of the Church of Greece and its faithful," Mr. Stephanopoulos said.

Prime Minister Costas Simitis extended his "warm and sincere" congratulations to the new Archbishop of Athens and All Greece.

"I know that you will meet the Church and Orthodoxy's expectations. The Greek state confirms that it will assist in your work in the framework of the harmonious cooperation between state and Church, in accordance with the Constitution," a statement from Mr. Simitis read.

Christodoulos also received a message of congratulations from main opposition New Democracy leader Costas Karamanlis, who said that he and ND would assist and support the new Archbishop and the Church of Greece with all their means.

Wishes towards the new prelate were extended by ruling PASOK Secretary Costas Skandalidis, who described Christodoulos as a man who had "contributed to the modernisation and to advancing Orthodox thinking".

Another telegram was sent to Christodoulos from Communist Party of Greece (KKE) leader Aleka Papariga.

Democratic Social Movement (DHKKI) leader Dimitris Tsovolas also sent congratulations, wishing him success in his mission.

The new Archbishop's profile : Christodoulos was born in Xanthi in 1939 and studied law and theology in Athens.

After serving for seven years as a secretary for the Holy Synod, he was elected Metropolitan of Dimitrias in 1974.

He made a name for himself due to his work with young people and his "openings" to the scientific world, workers, families and the poor.

The new Archbishop adopted and implemented a wide-ranging programme to combat unemployment, drug abuse and the spread of AIDS. Christodoulos speaks several languages, is a lecturer in canon law at Thessaloniki University and has often appeared on te levision to discuss ecclesiastical matters.

Athens News Agency

[02] Bank of Greece forwards monetary report to Parliament for first time

Athens 29/04/1998 (ANA)

"This is an act of democratic control," said Mr. Papademos, after handing the report to Parliament President Apostolos Kaklamanis.

Submitting the report to Parliament marked the beginning, in practice, of the central bank's autonomous status, in line with European Union regulations, Mr. Kaklamanis said.

The report on 1997 and 1998 monetary policy will be distributed to deputies and debated by Parliament's standing committee on economic affairs.

The governor says in his report that the effective control of inflation, with a view to bringing it down to under 2 per cent by the end of 1999, and the attainment of monetary stability were the basic aims of the central bank's monetary policy.

The report urges the government to apply a restrictive monetary policy and implement measures for structural reform. A substantial reduction in inflation requires greater flexibility in the labour market, but also a reserved pricing policy by firms and greater market competition, the report stresses.

It warns that if sufficient progress in not ultimately achieved in the fiscal and structural fronts, as well as in the labour and goods markets by the end of the year, the central bank be obliged to exercise an even sricter anti-inflationary policy, w hich, however, may have undesirable side-effects.

The reports is critical of the fact that nominal wages, particularly in the public sector, increased at a rate appreciably higher than the target of the incomes policy in 1997, and that structural reforms met with considerable delays.

Regarding the drachma, the Bank of Greece says that it will seek to maintain its parities with the currencies of the Exchange Rate Mechanism (ERM), as established by the devaluation of March 14. It forecasts, at any rate, that these will not fluctuate m ore than an average 2.5 per cent during the year, and that it may well exceed that norm, as it has already done since the devaluation.

The report envisages an increase in the money supply (M4) by 6-9 per cent, while credit expansion by banks to the private and public sector is forecast to increase by 4-6 per cent.

Regarding interest rates, the Bank of Greece unequivocally states that they will continue to constitute its main weapon for maintaining the parity of the drachma. It foresees a moderate decline this year, in line with inflation, and a speedy reduction and convergence with rates in the euro zone after 1999.

Athens News Agency

[03] Inter-Orthodox conference in Thessaloniki

Athens 29/04/1998 (ANA)

The meeting will be attended by ecclesiastical leaders from all 15 Autocephalus Orthodox Churches.

Thessaloniki will vie for the hosting of the Synod of Orthodoxy, scheduled to take place in 2000, while a similar request has been made by Moscow and Jerusalem.

Th Church of Greece will be represented by the Metropolitan of Corfu and Paxoi, Timotheos, and by the elder Ioannis Romanidis.

The sessions will start on April 30 in the hall of the Holy Metropolis of Thessaloniki's spiritual centre and will last for two days, during which Church leaders will pay courtesy calls to a number of officials and agencies in the capital of Macedonia.

Athens News Agency

[04] Clinton condolences for Karamanlis

Athens 29/04/1998 (ANA)

The letter stated that former President Karamanlis was a man of great vision and continuous achievements, stressing the hope that his legacy will last forever and will inspire people throughout the world.

"On behalf of the American people I express my condolences to you and the Greek nation on the death of former President and Prime Minister Constantine Karamanlis. He was a great friend and ally of the US and we will miss him greatly," the letter read.

Athens News Agency

[05] Greece dismisses latest Turkish provocation in the Aegean

Athens 29/04/1998 (ANA)

Government spokesman Dimitris Reppas was commenting on Turkey's dispute of Greek sovereignty of four Greek islands in the eastern Aegean.

About one month ago, Turkish authorities notified a Greek diplomat assigned in Ankara that they questioned Greece's sovereignty of the islands Fournoi, Agathonisi, Farmakonisi and Pserimos.

Foreign Minister Theodoros Pangalos said in Luxembourg on Monday that he had brought the issue to the attention of his European Union counterparts as just one example of recent increased provocativeness on the part of Turkey.

Replying to questions on the government's handling of the issue, Mr. Reppas replied that it had been effective, since the matter had been raised at the highest level, namely, the EU Council of Ministers as well as in the most official manner: in the form of a memorandum.

The spokesman said Greece had underscored Turkey's responsibility for the tension in the region and for the problems it had created with its policy regarding relations between the two countries.

"With its policy, Turkey is dynamiting all prospects of getting closer to Europe," Mr. Reppas said.

Turkey disputed Greece's sovereignty of the four islands during a meeting on March 26 in Ankara between the Greek embassy diplomat and a Turkish foreign ministry official. During the course of the meeting, called so Athens could lodge a formal protest to Ankara about violations of Greek airspace by Turkish aircraft, the Turkish official raised the issue of Greek helicopters landing on five islands, which he referred to by using Turkish names.

The Greek diplomat asked him if he was implying whether the islands in question were Turkish, only to receive the reply that they had Turkish names.

It turned out that four of the islands were in fact Greek, inhabited and part of Greece by virtue of the Treaty of Lausanne (1923) and the Treaty of Paris (1947).

In addition to the memorandum submitted to the EU, Mr. Reppas said, the government summoned on April 15 a representative of the Turkish embassy in Athens and handed him a strongly worded demarche. The following day, it called a meeting of EU ambassadors and strongly protested the Turkish provocation.

After the Orthodox Easter holiday, Mr. Reppas continued, the government also briefed the ambassadors of the United States and Russia.

In the memorandum, Greece stresses that the latest Turkish provocation provides additional proof of Ankara's expansionist policy with respect to Greece, while at the same time highlighting the total disregard shown by the political and military leadersh ip in Ankara for international law and international treaties.

Parliament President Apostolos Kaklamanis said Greece rejected Turkey's totally unfounded claims which ran contrary to international treaties regulating the status quo in the Aegean.

Speaking to the press, Mr. Kaklamanis accused Turkey of trying to create problems in the region by making claims beyond the bounds of reason and contrary to international law.

"At the end of the day, Turkey is just banging its head against a wall," he added.

Mr. Kaklamanis said Greece's responsible positions, which were in line with the principles of international law, had played a part in the EU adopting a positive stance towards Greek views.

ND reaction : Commenting on Mr. Reppas' statements on Greek-Turkish relations, main opposition ND party spokesman Aris Spiliotopoulos said "the government's acceptance that in crucial issues it preferred to use secret diplomacy, greated a very bad impression".

The ND spokesman accused the government of its tactic to operate secretly, as it did in Madrid, without keeping the Greek people or political party leaders updated on its moves.

"Instead of briefing (political party leaders), Prime Minister Costas Simitis opted for briefing EU member-states' goverments first," Mr. Spilitopoulos charged.

Kranidiotis-Cem : PARIS (ANA - A. Podimata) - Foreign Undersecretary Yiannos Kranidiotis said here that he had a brief conversation with Turkish Foreign Minister Ismail Cem on the sidelines of an OECD ministerial meeting.

Replying to questions at a press conference, Mr. Kranidiotis said Mr. Cem had confirmed he would not be going to Rhodes in two weeks to meet with his Greek counterpart on the sidelines of a WEU ministerial session.

Mr. Pangalos said he had informed his EU colleagues of Mr. Cem's refusal, citing this as well as an example of Turkish provocativeness and a lack of desire for dialogue with Greece.

Mr. Kranidiotis said he had conveyed to Mr. Cem his concern about Ankara's stance on the Cyprus problem and Greek-Turkish relations, without there being any further substantial discussion of the matter.

EU programmes in the Aegean : Meanwhile, the Aegean ministry yesterday announced a series of projects for Aegean islands, including a programme of environmental tourism on 14 rocky islets and partly funded by the European Union.

Infrustructure projects on Pserimos, Agathonisi and Farmakonisi, costing 1.6 billion drachmas, will be constructed by the ministry with majority funding from the EU's Interreg II programme.

On her part, Aegean Minister Elisabeth Papazoi said Ankara was 15 years late in lodging complaints about EU funding of works on these populated islets.

During the past 15 years, she said, infrastructure projects had been executed in the region with national and EU funding.

Athens News Agency

[06] Tsohatzopoulos receives Slovakian parliamentarian Andrejeak

Athens 29/04/1998 (ANA)

Other talks focused on developments in the Balkans and the situation in Kosovo in particular.

In a statement, Mr. Tsohatzopoulos reiterated Athens support for the prospect of Slovakia's accession to these organisations.

Another issue concerned the creation of regional security institutions, particularly in regions where there is no NATO structure or other security institutions that can constitute additional pressure in tackling flashpoints, such as the Balkans.

Both Mr. Tsohatzopoulos and Mr. Andrejeak praised the very good level of relations between Greece and Slovakia.

Athens News Agency

[07] Paschalidis in London for talks

LONDON 29/04/1998 (ANA - L. Tsirigotakis)

The main issues examined in Mr. Paschalidis' talks concern the European Union and Economic and Monetary Union (EMU), among others.

Mr. Paschalidis held meetings yesterday with a special adviser for the British premier, and then with Minister without Portfolio Peter Mandelson, who is responsible for coordinating and promoting the government's work.

Today, he will have meetings at the Foreign Office with the British FM's special adviser David Clarke.

Athens News Agency

[08] Bulgarian official says new formula needed for pipeline

SOFIA 29/04/1998 (ANA- B. Borisov)

Athens News Agency

[09] Murder of Nigerian man condemned

Athens 29/04/1998 (ANA)

Mr. Reppas said the government was satisfied that an arrest had been made in relation to the murder and that the government considered racism a "great problem and an open sore".

Police on Monday arrested one man for fatally wounding the Nigerian national and another six people for aiding and abetting.

Use Ugbuefi, 31, was killed when he was repeatedly punched in the chest with a spiked knuckle-duster during an altercation with Efthymios Kyriopoulos, 28, at the offices of the Panathinaikos Fan Club in Peristeri. Ugbuefi reportedly argued with Kyriop oulos after the Nigerian man tried to sell items to a number of youths gathered at the club.

Police said that four of the men at the scene of the crime took Ugbuefi's bag and - with the help of the wife of one of the men and a young woman, both also later arrested - cleaned it to remove their fingerprints and kept some of the items. They told police that an Albanian man had attacked Ugbuefi.The attack on Ugbuefi over the weekend also drew condemenation on Monday from Alternate Foreign Minister George Papandreou.

Athens News Agency

[10] Athens expresses concern over latest tension in Kosovo

Athens 29/04/1998 (ANA)

Mr. Papandreou said Greece advocated an unconditional commencement of dialogue between Belgrade and ethnic Albanian leaders in Kosovo, and totally supported respect of human rights in the region. He also stressed the particular economic and political si gnificance of the developments in Kosovo for Greece as well as other Balkan countries neighbouring Yugoslavia.

He said Greece, which held the current rotating six-month presidency of the Western European Union, would bring the Kosovo issue for discussion at the WEU foreign and defence ministers' meeting on Rhodes on May 12.

In statements to the press, Foreign Minister Theodoros Pangalos, who is also in Luxembourg, said Athens was greatly interested in the preservation of peace in the region.

Mr. Pangalos said Greece supported respect of human rights in the Kosovo region, but opposed any secessionist tendencies.

He warned that escalation of violence and bloodshed in Kosovo should be avoided mainly because of the toll in human life, but also because of the financial cost such a development would entail for Yugoslavia as well as the other Balkan countries,mainly Greece.

Turning to the other issues discussed at the EU Council of Ministers' meeting, particularly that of establishing association councils with Romania and Slovakia, Mr. Pangalos recalled the particular role Greece had played in having those two countries in cluded, on equal terms, with the other candidate countries in accession negotiations with the EU.

Mr. Pangalos expressed satisfaction that those two countries were on the road towards EU accession, adding that Greece intended to facilitate, with all its powers, those countries' efforts to strengthen their ties with the EU.

Replying to press questions on the foreign ministers' general affairs meeting Monday on EU-Turkey relations, Mr. Pangalos said that the all the EU member states more-or-less realised the fairness of Greece's arguments.

But, he added, it appeared that some of them were, as reported in the German press, taking part in a "beauty contest" before Turkish leaders.

The Turkish public had undisputedly "elected" French President Jacques Chirac as the "star" of that contest, Mr. Pangalos said, adding that other member-states had opted not to disrupt their relations with the Turks, adopting instead a wait-and-see atti tude and simply observing the developments.

Greece, Mr. Pangalos added, "is implementing a policy of principles and not an opportunistic policy. We believe in the principles and ideas that we support, and we shall continue to do so because we believe that we shall win in the long-term."

Athens News Agency

[11] Skandalidis-Burns meeting

Athens 29/04/1998 (ANA)

In a statement afterwards, Mr. Skandalidis said that Mr. Burns offered his good services for better organising the delegation's contacts with US contacts.

Mr. Skandalidis said that the question of Turkey's dispute of Greek sovereignty for certain islands was raised at the meeting.

He added that he was satisfied by the reply he received from Mr. Burns on the positions set out.

Athens News Agency

[12] Italy's Andreatta in Athens today

Athens 29/04/1998 (ANA)

The visit follows a series of contacts between the chiefs of the general staff of the two countries over the past two years and is in return for a visit by National Defence Minister Akis Tsohatzopoulos to Rome last year.

During his stay, Mr. Andreatta will have separate talks with President Kostis Stephanopoulos, Foreign Minister Theodoros Pangalos and Mr. Tsohatzopoulos.

His talks will focus on issues related to security in southeast Europe, NATO enlargement, the Western European Union (WEU) and bilateral relations.

Athens News Agency

[13] Tzoganis winds up Yugoslav visit

PRISTINA 29/04/1998 (ANA - M. Mouratidis)

The Greek military chief yesterday also met with his Yugoslav counterpart, General Momcilo Perisic and discussed the military and political situation in the region, as well as the latest developments in Kosovo.

According to an official statement from the Yugoslav side, there was agreement on many issues and both men also agreed that a political resolution of problems was the best way to safeguard peace and security in the region.

Views were also exchanged prospects for cooperation and developing ties between the armed forces of both countries. Both men said that cooperation to date between the armed forces had been "very good".

Athens News Agency

[14] Simitis says gov't will guarantee effective social policy

Athens 29/04/1998 (ANA)

Speaking at a Parliamentary debate on the government's social policy, called for by the Coalition of the Left (Synaspismos), Mr. Simitis said he was against a shrinking of the welfare state, but also against a proliferation of 'pork barrel' programmes.

"A central point of our effort for social justice is a fairer economic policy," he said, stressing that the government was increasing social welfare without greater economic cost. He pointed out that Greece devotes 21 per cent of GDP on social spending, and questioned the Synaspismos claim that Greece is at the bottom of the list in the EU as regards social spending.

The prime minister said the inflation rate was now at the lowest level of the last 25 years, real incomes had risen by 3 per cent and pensions by 7.2 per cent during the 1994-97 period.

During the PASOK government's tenure, tax revenues were rising by 13.5 per cent a year, with emphasis on direct taxes, whereas during the previous New Democracy government, they were raised by 19 per cent annually, with an emphasis on indirect taxes.

He acknowledged that unemployment had risen "mar-ginally" by 0.6 per cent in the last four years, but said the government planned to subsidise 50,000 jobs for young people aged 20-27 at a cost of 90 billion drachmas, with supplementary training progra mmes for 20,000 jobless, costing 30 billion, and subsidies for 12,000 positions for the long-term unemployed.

Athens News Agency

[15] OTE share sale to institutional investors

Athens 29/04/1998 (ANA)

Fourteen million shares were ultimately sold at the above price and the remaining two million will be provided to the state-run utility's employees.

Conversely, the National Bank of Greece announced that the "flotation was completed successfully by the Greek state...to Greek and foreign institutional investors."

The bank also notes that the quantity of shares not sold was intentionally held back for OTE employees, as part of the utility's long-term programme of providing incentives. National Bank also announced a commitment not to offer more OTE shares within the next three-month period.

Athens News Agency

[16] Commercial Bank of Greece launches new phone banking service

Commercialcard Banktel allows the bank's business customers to receive automatic endorsement over the phone, 24 hours a day all the year round. The system covers Visa and Commercialcard, the bank's own credit card.

Athens News Agency

[17] Discussion on bill for Bank of Greece's charter

Athens 29/04/1998 (ANA)

Finance Undersecretary Nikos Christodoulakis called for the speedy ratification of the bill, due to the Bank of Greece's general assembly and consultations at a European level on the euro, due to take place over the weekend. Insistence on Mr.Papademos' summoning was voiced by deputies of the main opposition New Democracy, Stelios Papathemelis of PASOK and Vassilis Kedikoglou. The issue was put to a vote and it was decided that one more session will be provided for Mr. Papademos to attend, as well as the president of the employees' union.

Athens News Agency

[18] OA, pilots reach agreement on overtime, summer schedule

Athens 29/04/1998 (ANA)

It is now expected that the recent labour unrest will come to an end and that flights will resume as normal.

According to reports confirmed by Transport Minister Tassos Mantelis, the state-run airline is looking for 25 billion drachmas in order to meet its payroll and fuel costs.

He added that with the revenue expected from the resumption of its normal schedule, OA will be able to meet its operational liabilities.

Mr. Mantelis said that the primary aim was to streamline OA and then find ways of floating the carrier's shares on the stock exchange, or a sale of its subsidiaries.

Pilots, however, expressed a view that recently introduced legislation will not help rehabilitate the loss-making company, which will now require extensive hirings after a mass exodus of staff over the past few weeks.

OA management announced in a later statement that their immediate aim was the recovery of reliability among travellers and the strict observance of the flight schedule.

Finally, it emerged that Olympic Airways has signed a preliminary agreement with the Germany-based Hochtief group regarding the transfer of the airline's hub to the new Athens Airport at Spata, currently under construction.

Athens News Agency

[19] Toll post officials to stage Mayday weekend strike

Athens 29/04/1998 (ANA)

Motorists will not have to pay toll fees on roads throughout the country during the long holiday weekend.

Athens News Agency

[20] Papantoniou rejects talk of new devaluation

PARIS 29/04/1998 (ANA-A.Podymata)

Speaking at a press conference after a meeting of the Paris-based Organisation for Economic Cooperation and Development, Mr. Papantoniou dismissed the talk as purely speculative and lacking any concrete base.

He said there were two categories of speculation: the first that Greece was negotiating to join the euro currency in 1999; and the second that the drachma's parity in the European Rate Mechanism would be adjusted at a weekend European Union summit.

The minister dismissed the first scenario.

"There is no issue of a political negotiation for Greece's entry into the EMU," Mr. Papantoniou said.

He underlined that it was in Greece's interests to keep to the Maastricht treaty's timetable and seek entry by 2001.

Respect for the Maastricht Treaty's criteria was a vital element in a country's EMU entry procedure, and the government would support this stance at the EU summit on the euro's launch, Mr. Papantoniou said.

He said he was surprised by renewed talk of a further drachma devaluation.

"The drachma's parity is five percent higher than its central parity in the ERM, a fact that technically dismisses any thought of devaluation," he said.

The minister reassured markets that the drachma's 13.8 percent devaluation on March 14, lined to ERM entry, was successful, and urged investors to remain calm until after the summit.

In Athens, Bank of Greece governor Lucas Papademos said speculation was groundless that European leaders would decide on a realignment of European currencies.

Government spokesman Dimitris Reppas on his part said there was no issue of changing the drachma's parity as there was no issue of changing the parity of currencies participating in the first phase of economic and monetary union (EMU).

Greece's target, Mr. Reppas added, remained the same, namely, to seek EMU entry by 2001.

Athens News Agency

[21] Greek stocks rebound to gain 6.31 pct

Athens 29/04/1998 (ANA)

The Athens general index ended 6.31 percent higher at 2,445.80 points reversing an early 4.0 percent fall, helped by a wave of massive buying orders from foreign and domestic institutional investors late in the session.

Dealers said the market was extremely nervous following talk of a new drachma devaluation linked to a weekend European Union summit to launch the euro.

The government and the central bank have dismissed the rumours in a bid to restore confidence to the market. Trading was heavy with turnover at 98.8 billion drachmas.

Sector indices scored gains. Banks rose 6.61 percent, Leasing was 4.85 percent up, Insurance soared 7.98 percent, Investment rose 5.91 percent, Construction increased 3.67 percent, Industrials jumped 7.53 percent, Miscellaneous rose 6.35 percent and Hol ding was 7.05 percent higher.

The parallel market index rose 4.24 percent, and the FTSE/ASE 20 blue chip index ended 6.19 percent up at 1,472.74.

Broadly, advancers led decliners by 198 to 49 with another 15 issues unchanged.

Papastratos, Aluminium of Greece, Titan Cement, Ionian Bank, Ergobank, Alpha Credit Bank, National Bank of Greece and Piraeus Bank scored the biggest gains hitting the day's 8.0 percent limit up.

Sato, Intertyp, Agrinio Metalplastic and Remek suffered the heaviest losses.

National Bank of Greece ended at 52,263 drachmas, Ergobank at 26,330, Alpha Credit Bank at 28,566, Delta Dairy at 4,282, Titan Cement at 25,056, Intracom at 18,900 and Hellenic Telecommunications Organisation at 8, 890.

In the domestic money market, the drachma continued losing ground against most foreign currencies.

The Greek currency ended 0.32 percent lower against the Ecu. It was down against the DMark and the US dollar by 0.17 and 0.23 percent respectively.

Interbank rates edged higher following a reported 700 million DMark capital outflow at the central bank's drachma fixing.

Athens News Agency

[22] Thessaloniki's Macedonia Airport likely to close May 8-12 for repairs

Athens 29/04/1998 (ANA)

One runway is already out of action for replacement of its asphalt surface. Work on the junction between the airport's two runways is expected to lead to closure of the airport for five days, CAA deputy governor George Souladakis told the Athens News Ag ency.

Smaller aircraft belonging to Olympic Aviation, a subsidiary of national carrier Olympic Airways, may be allowed to use the airport. Officials were due to meet yesterday to discuss the matter.

In the event of closure, passengers on other Greek and foreign airlines would be transferred from Kavala's Alexander the Great airport to Thessaloniki, Mr. Souladakis said.

OA, which has yet to state whether it will divert its flights to Kavala, may cancel its Thessaloniki route in that period, industry sources said.

The works are part of a month of reconstruction projects that have just begun to improve air access to the airport, which often sees flight postponements due to mist and fog.

The runway reconstruction is being undertaken to deal with wear and tear, and to allow the installation of heavy duty lighting for use in fog.

Next, the airport's ILS I landing system will be upgraded, reducing visibility problems by 80 percent.

Olympic Airways pilots will have to be trained to use ILS II, Mr. Souladakis said.

Athens News Agency

[23] Northern Greece uses EU funds for Internet tourism access

Athens 29/04/1998 (ANA)

MAT-Macedonia and Thrace Tourist Promotion via Internet is a system to promote the tourism sector by offering information and services to participating enterprises.

The system envisages installation of a med server, and three workstations in Thessaloniki, Kozani and Komotini.

Athens News Agency

[24] Development ministry aims to improve competitiveness in 1998

Athens 29/04/1998 (ANA)

Development Minister Vasso Papandreou yesterday released a ministry report on 1996-97 and outlined her plans for industry, commerce and tourism.

The ministry's priorities for 1998 are as follows:

• Speedier privatisation through a flotation of up to 20 percent in Hellenic Petroleum by June 15
• Promotion of ministry investments in a chemicals unit and in renewable energy
• Creation of a new legal framework to cover the operation of industries in the Attica region.

The ministry is expected to present plans for liberalisation of the domestic energy market and offer financial support, totalling 160 billion drachmas, to small and medium-sized enterprises.

Its priority in commerce is to contain inflation in cooperation with the economy ministry.

Ms Papandreou said that a speedier procedure for the sale of the Greek National Tourism Organisation's assets was a priority in the ministry's tourism policy for 1998.

Athens News Agency

[25] WTO to hold seminar on euro,tourism aboard ship

Athens 29/04/1998 (ANA)

More than 100 delegates from 30 countries in Europe, the Black Sea region and central Asia will visit Mykonos, Santorini, Patmos, Rhodes, Heraclion and Efesus.

The seminar will coincide with a WTO committee meeting on Europe to be held in a central Athens hotel. Inaugurating the meeting is Cultural Minister Evangelos Venizelos.

Athens News Agency

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