Athens News Agency: Daily News Bulletin in English, 98-07-30

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

CONTENTS

[01] Greek loan rates to fall to 6.0-7.0 pct by spring 2000-minister

[02] SEB president comments on Greek-Turkish relations

[03] EU approves Thessaloniki metro construction project

[04] Greek stocks end lower in rangebound trade, turnover drops

[05] Bulgaria to get Ecu 40 mln loan from EIB for roadworks

[06] Higher turnover for Sanyo Hellas

[07] SEPE participation at SMAU Milan exhibition

[08] Slightly lower temperatures today

[09] Destruction from forest fires in the thousands of acres

[10] Cyprus' European prospects, security discussed during Athens meeting

[11] Gov't backs Pangalos' remarks regarding Turkish consulate

[12] Pangalos-Burns meeting

[13] Gov't on cooperation with Nicosia

[14] Simitis-Skandalidis meeting on upcoming elections

[15] Kaklamanis receives professors, students from Greek studies faculties

[16] CoS rules against sea platform in Mykonos

[17] Balkan writers, translators to meet in Alexandroupoli

[18] 13th World Basketball Championship kicks off, Greece outlasts Canada

[19] Authorities investigating tie between police, organised crime

[20] Medical researcher on experimental vaccine for breast cancer

[21] Turk skipper convicted of smuggling illegals into Greece

[01] Greek loan rates to fall to 6.0-7.0 pct by spring 2000-minister

Athens 30/07/1998 (ANA)

The minister was speaking after a meeting of the national statistics committee, which endorsed the government's plan for transition to the euro, the European Union's single currency.

Due to inadequate competition, banks had retained a wide spread between loan and deposit rates in order to hike their profits, Mr. Papantoniou said.

The outcome of entry into economic and monetary union would be fierce competition, which, in turn would drive down domestic deposit rates to match levels in other EU countries, he said.

Differentials between loan and deposit rates would fall to 2.0-4.0 percentage points from the current 7.0-8.0 percentage points.

"This is the case because the fall in loan rates will be greater than the fall in deposit rates," Mr. Papantoniou said.

Shifting to the euro would eliminate foreign exchange risk; and the fall in interest rates would lead to a rise in investments and a decline in unemployment.

Mr. Papantoniou also forecast that the rate of GDP growth from 2001 onwards would be 5.0-6.0 percent annually from 3.5-4.0 percent at present.

In order to join economic and monetary union by January 1, 2001, the government's target-date, a better performance was required in all sectors of the economy, he said.

The government's transition plan outlines how joining the euro will be effected, with special emphasis on the public sector, the financial sector and the Athens Stock Exchange.

It also covers the changes needed in industry, shipping, tourism, insurance, commerce and small and medium-sized enterprises.

Athens News Agency

[02] SEB president comments on Greek-Turkish relations

Athens 30/07/1998 (ANA)

Mr. Stratos was speaking to reporters yesterday in reply to questions on developments in Greek-Turkish relations and the role that they will have in Greece's course towards accession to Economic and Monetary Union (EMU).

He said, among others, that he believed that the effort was common, adding that aggravations will exist, of course, but he wanted to believe that calm will prevail.

Referring to the new bill on the labour market, he said that in the industrialists' view it does not promote flexibility in the labour market and must be withdrawn.

SEB also proposes special settlements on the deregulation of the energy market and the new role of the Public Power Corp. (DEH).

An overall observation by industry on current economic developments in the country is that in the event that Greece fails to join EMU the repercussions will be particularly unfavourable.

Athens News Agency

[03] EU approves Thessaloniki metro construction project

BRUSSELS 30/07/1998 (ANA/P.Pantelis)

At a meeting yesterday between EU Commissioners Christos Papoutsis and Mario Monti, it was confirmed that the government would in coming days be informed that the objections were to be formally shelved, the source said.

Athens News Agency

[04] Greek stocks end lower in rangebound trade, turnover drops

Athens 30/07/1998 (ANA)

The Athens general share index ended 0.50 percent lower to finish at 2, 715.61 points. Turnover fell to 40 billion drachmas from 48.1 billion drachmas in the previous session.

Sector indices finished lower across the board. The heavily weighted banking sector nosed down 0.28 percent, Leasing dived 3.87 percent, Insurance dropped 1.0 percent, Investment lost 1.58 percent, Industrials shed 0.67 percent, Construction slumped 1.6 5 percent, Holding dropped 0.77 percent, and Miscellaneous slid 2.44 percent.

The parallel market index for small cap companies finished 1.51 percent lower.

Of 263 stocks traded, declines led advances at 160 to 86 with 17 shares remaining unchanged.

The day's biggest percentage gainers finishing at or near the daily upper eight percent volatility limit were Sarandopoulos Mills, Nikas, General Trade, Technical Olympic, Sato, Mouriadis, Dimitriadis, Papoutsanis and Sportsman.

Varagis ended 99 percent higher in line with a higher volatility limit for new listings.

The day's biggest percentage losers were Vioter, Bank of Central Greece (common and preferred), Hellenic Duty Free Shops, Athinea, Ermis, Konstandinidis, Strintzis Lines, Zamba and Elfiko.

National Bank of Greece ended at 53,890 drachmas, Ergobank at 30,180, Alpha Credit Bank at 29,400, Ionian Bank at 16,210, Commercial Bank of Greece at 27,945, Delta Dairy (common) at 3,645, Intracom (common) at 12,700, Titan Cement (common) at 23,250, H ellenic Petroleum at 2,715 and Hellenic Telecommunications Organisation at 8,050 drachmas.

Athens News Agency

[05] Bulgaria to get Ecu 40 mln loan from EIB for roadworks

SOFIA 30/07/1998 (ANA/B.Borisov)

The loan will be mostly used to finance widening and modernisation of the E- 79 roadway linking Sofia to the key Koulata-Promahona border crossing on the border with Greece.

Athens News Agency

[06] Higher turnover for Sanyo Hellas

Athens 30/07/1998 (ANA)

The parent company's turnover rose to 3.7 billion drachmas from 3.2 billion last year, while pre-tax and pre-depreciation net results reached 382 and 257 million drachmas, recording a 48 per cent increase.

Athens News Agency

[07] SEPE participation at SMAU Milan exhibition

Athens 30/07/1998 (ANA)

According to an announcement by SEPE, the Milan exhibition is very important for the telecommunications and informatics sector in the wider Mediterranean region.

Athens News Agency Athens 30/07/1998 (ANA)

The regional administrator of eastern Macedonia-Thrace yesterday announced that the drachma devaluation increased by 14 billion drachmas the funds of a local development programme.

He added that the increase will be equally allocated to all prefectures in the region.

Athens News Agency

[08] Slightly lower temperatures today

Athens 30/07/1998 (ANA)

Temperatures will not exceed 38 degrees Celsius throughout the country today, but as of tomorrow they will start to climb again and on Sunday they will reach 40. Hospitals and the national ambulance service (EKAB) are on standby.

Beaches and Greek Tourism Organisation (EOT) seaside resorts were filled to capacity, particularly from noon onwards, while other residents took refuge in banks and public buildings equipped with air conditioning. Moreover, very few people had to rush to municipal clinics and other municipal buildings in the Attica area, which were on standby since Tuesday to offer their services or merely a cool environment for sensitive groups of the population such as the elderly.

Athens News Agency

[09] Destruction from forest fires in the thousands of acres

Athens 30/07/1998 (ANA)

For the sixth day, the fires continued yesterday in Kouvela, Messinia and on Mount Olympus and Mount Taygetus, where fire-fighters proved unable to prevent the destruction of unique fir and pine forests.

In Perahora, Corinth, a fire extending along a 14-km front was brought under partial control having destroyed forest areas, cultivations, vines, olive groves, houses and livestock farms, while new fires broke out near Domokos, Lamia, and Grammatiko, Attica.

The main opposition New Democracy party's head of agricultural affairs, Savvas Tsitouridis, criticised in a press conference the government for a lack of policy in the forestry sector and for incompetence in dealing with the fires.

He said the matter was a major political issue, as the government had transferred responsibility from the forest service to the fire brigade, ignoring the unanimous findings of a competent parliamentary committee.

New Democracy estimates the cost from this year's fires as approaching six trillion drachmas, and the areas burned near 250,000 acres.

Athens News Agency

[10] Cyprus' European prospects, security discussed during Athens meeting

NICOSIA 30/07/1998 (ANA - G. Leonidas)

This was stated by Foreign Undersecretary Yiannos Kranidiotis to the Cypriot Radio and TV network (PIK). He stressed that the decision taken is that Greece and Cyprus will persist in the two strategic options in every way.

Replying to a question on whether reports that US envoy Thomas Miller has conveyed specific ideas for a flight moratorium in Cyprus and its monitoring by the NATO headquarters in Naples are true, Mr. Kranidiotis said:

"We are not in any final phase. Discussions are taking place on views and ideas and proposals by President (Glafcos) Clerides from the aspect of Cyprus' absolute right to its defence. The purchase if the S-300s is not a purpose in itself but a strong ne gotiating weapon for tension to be decreased and for us to be led to demilitarisation."

Commenting on threats by Turkish Foreign Minister Ismail Cem that Turkey will do what it has to in the event the missiles are deployed, Mr. Kranidiotis said that "Greece and Cyprus will also do what they have to."

Athens News Agency

[11] Gov't backs Pangalos' remarks regarding Turkish consulate

Athens 30/07/1998 (ANA)

"The role of consulates is very clear. They cannot perform duties which are outside their competence," government spokesman Dimitris Reppas said.

During a tour of Thrace on Sunday, Mr. Pangalos warned personnel at the Turkish consulate in Komotini to restrict themselves to "well-meaning duties and to refrain from creating problems in the harmonious co-existence of Christian and Moslem residents" in the region.

Mr. Reppas also rejected claims by Turkish Foreign Minister Ismail Cem that Ankara had a "special relationship" with Thrace.

"Turkey has no special relationship at all with Thrace," he said. "When foreign diplomatic missions undermine not only the interests of the country in which they are located but also bilateral relations, then Greece reacts, " Mr. Reppas said, add ing however, that although "all possibilities are being considered" nothing specific had been decided.

Athens News Agency

[12] Pangalos-Burns meeting

Athens 30/07/1998 (ANA)

According to reports, no comments are expected after the meeting.

The climate in relations between Athens and Washington appears restored. However, the cause of the crisis, namely, the position of the US White House that there was a question of conflict and not invasion of Cyprus in 1974 continues to stand, while the question pre-occupying Athens is whether the US administration has changed its policy over the Cyprus issue or whether it was a question of a "map exercise" in the framework of its mediating initiative on the problem. It is expected that today's meeting will focus on Greek-US relations in their entirety, as well as on Greek- Turkish relations and Cyprus.

Athens News Agency

[13] Gov't on cooperation with Nicosia

Athens 30/07/1998 (ANA)

Mr. Reppas agreed with his Cypriot counterpart Christos Stylianides that the procurement of the Russian-made S-300 missile system falls within the joint defence doctrine.

National issues are handled by the Cypriot government after prior communication with the Greek government and both governments are always acting within the framework set by UN resolutions that now exceed 100, Mr. Reppas said.

A visit by the Cypriot National Council to Athens or a joint meeting under Prime Minister Costas Simitis have not been scheduled, Mr. Reppas concluded.

Athens News Agency

[14] Simitis-Skandalidis meeting on upcoming elections

Athens 30/07/1998 (ANA)

He indicated that the plan will be based on the priorities defined by important dates on the political calendar, namely, the municipal and prefectural elections in the autumn,the congress,Euro-elections, and national elections, in that sequence.

"The goals of the congress must be to arrive at political positions, and not be consumed in discussions of succession or internal partisan politics, " he said.

Regarding the municipal elections, Mr. Skandalidis said it was a political battle on which PASOK had exhausted all possible arguments in the effort to rally as broad a spectrum of social forces together.

Athens News Agency

[15] Kaklamanis receives professors, students from Greek studies faculties

Athens 30/07/1998 (ANA)

He briefed them on Greek-Turkish relations and Greece's role in the sensitive region of southeastern Europe.

Mr. Kaklamanis said that Greece is an important factor of peace, stability and security for the Balkans and the wider region of the southeastern Mediterranean, participating actively in the international community's peace efforts and maintaining very go od relations with neighbouring countries which are based on mutual respect for the principles of internataional law and international treaties.

He further noted that "Hellenism in Cyprus is under threat by military forces which Turkey has gathered in the northern part of the island since 1974 following the invasion. The sole effort of the Republic of Cyprus against them is defence."

Athens News Agency

[16] CoS rules against sea platform in Mykonos

Athens 30/07/1998 (ANA)

The platform had been placed in front of the hotel for bathers' use between April and October and after permission was granted by the Cyclades regional director and Mykonos port authorities.

The high court noted in its ruling that such a construction in the sea would dramatically affect the area's natural beauty and potentially destroy artifacts in the marine environment.

Athens News Agency

[17] Balkan writers, translators to meet in Alexandroupoli

Athens 30/07/1998 (ANA)

The event is part of an effort to modernise libraries in the region of Evros, supported by the culture ministry, the Evros prefecture and the National Book and Translators' Centre.

An important role in this latest effort for regional communication is played by translators, while special emphasis is placed in a common workshop for writers and translators.

Among the personalities set to participate are Ismail Kadare, Kiki Demoula, Milomor Tzouganovic, Zyranna Zateli, Nedim Gursel, Vasilis Vasilikos, Blanca Dimitrova, Spyros Plaskovitis, Mlilisav Savic, Sotiris Demetriou, Mircea Kartaresku and Thanasis Valtinos, all of whom will meet in Alexandroupoli at the Workshop of Balkan Writers and Translators, organised by the National Book Center.

Athens News Agency

[18] 13th World Basketball Championship kicks off, Greece outlasts Canada

Athens 30/07/1998 (ANA)

Prime Minister Costas Simitis and other high-ranking government members attended the game, played at the Peace and Friendship Stadium in Faliro before a crowd of about 10,000.

Lithuania and Russia also got off to a flying start. Lithuania hammered South Korea 97-56 and Russia easily beat Japan 83-58.

USA had no problem in thrashing Brazil 83-59, Yugoslavia overwhelmed Puerto Rico 80-66, while Spain, despite initial difficulties, did not fall victim to surprise, beating Nigeria 80-68. Italy also faced difficulties with Senegal (36-35 at half-time) but managed to prevail 76-66.

Athens News Agency

[19] Authorities investigating tie between police, organised crime

Athens 30/07/1998 (ANA)

Vassilios Andreadis, 46 has already confessed to taking part in a robbery in July 1993 at a branch of the National Bank in Nigrita, Serres, during which a 25-year-old cashier was shot and killed.

The one-time fugitive told police that he had waited at a short distance from the bank with the getaway car and after the robbery picked up his brother, Constantine, and an accomplice, Sotiris Kousis.

All three subsequently escaped abroad.

In 1996, Constantine Andreadis and Kousis were arrested in Amsterdam as they arrived to watch a European Championship soccer match between Ajax and Panathinaikos, Athens.

Kousis has since been implicated in the murder of mobster Vassilios Souflas.

Announcing the return and surrender of Andreadis, Thessaloniki police said yesterday only that he had confessed to taking part in the Nigrita bank robbery.

According to police documents however, evidence emerged during Andreadis' questioning linking him with other serious crimes committed in Thessaloniki and other parts of Greece "in which officers currently serving in the police force participated".

The investigation is continuing under the supervision of the head of the public prosecutor's office in Thessaloniki, and it is believed that warrants will in the next few days be issued for the arrest of persons implicated by the man.

Athens News Agency

[20] Medical researcher on experimental vaccine for breast cancer

Athens 30/07/1998 (ANA)

Vasso Apostolopoulou, who is on a visit to the island, noted that she is optimistic of the study's course but it will be another six years before the vaccine can be properly assessed.

Athens News Agency

[21] Turk skipper convicted of smuggling illegals into Greece

Athens 30/07/1998 (ANA)

According to reports, Gediz Kablak was arrested at dawn yesterday after being chased by the coast guard.

The Turkish man transported four Iranian men, two women and three children to Samos on his six-metre-long speedboat.

Athens News Agency

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