Athens News Agency: Daily News Bulletin in English, 98-08-03

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

CONTENTS

[01] Reinforcement of Cyprus's defences restores balance, Tsohatzopoulos says

[02] Tsohatzopoulos optimistic gov't will overturn 'unfavourable climate'

[03] Key developments expected in banking sector thiw month

[04] Lesvos to be represented at Ismir trade exhibition

[05] Operation continues to restore Thessaloniki-Europe rail link

[06] Four men die in ancient gold mine

[07] Police officers suspended for abuse of power

[08] At least 25 dead on the roads

[09] World Basketball Championship

[10] Penalty imposed on Nigerian basketball player

[01] Reinforcement of Cyprus's defences restores balance, Tsohatzopoulos says

"The reinforcement of Cyprus' defences restores, in the most elementary manner, the balance (on the island republic) and without a balance the Cyprus issue can not be settled", Mr. Tsohatzopoulos told the Sunday edition of the Kathimerini daily in an in terview.

He was referring to the decision of the Cyprus government to buy the Russian-made S-300 anti-aircraft missile system. The missiles are due to arrive on the island later this year, but Turkey said that it would react by all means to their deployment. Western countries also expressed their disagreement with the decision of the Cyprus government to buy the defensive missile system.

Turkey maintains more than 35,000 troops on the northern part of the island republic, which it invaded in 1974. It also has air supremacy over Cyprus.

"There is no government either in Cyprus or in Greece which would accept positions equivalent to a retreat in disarray," Mr. Tsohatzopoulos said.

Furthermore, the defence minister noted that the Greek-Cypriot side has made proposals, so we "want a peaceful solution, we are not provoking anyone and we are calling the other side to understand that its insistance on agressive tactics and expansionis t goals will not succeed in anything."

"The deployment of these missiles, as (Cyprus) President (Glafcos) Clerides has stated, may be postponed only in case that a timetable for the total demilitarisation of Cyprus is accepted or in case of real progress toward the solution of the Cyprus pro blem," Mr. Tsohatzopoulos said, adding that "the proposal for the demilitarisation of the air was made toward the same goal , with the creation of a no-fly zone over Cyprus with guarantees either of the Security Council or NATO."

The defence minister did not preclude the possibility of "the manifestation of agressive behaviour" by Turkey, while he underlined that Greece "is determined to contribute toward the creation of a new stable balance, but Greece will not hesitate to defe ned itself, if its security or that of Cyprus is threatened."

Furthermore, Mr. Tsohatzopoulos said that Athens is in constant contact with Nicosia in the framework of the Unified Defence Doctrine.

He added that "Turkey as well as all involved parties must realise that Greece has no choice but to support decisively the choice of the Republic of Cyprus to defend itself and demand equal treatment as a sovereign state."

Mr. Tsohatzopoulos also said that if "we submit" to the pressures, "exercised on the victim", to cancel the deployment of the S-300 anti- aircraft missiles "we admit" that the Republic of Cyprus is a state with limited sovereignty and "we will open the r oad for further Turkish intransigence and provocation."

Finally, the minister noted that the security and stability of Israel can not be based on the military cooperation with Turkey, since the prospect of Israel's security and prosperity is dependent more on its relationship with the European Union.

He added that the first step toward this relationship is Cyprus and Greece. Kranidiotis-Burns meeting: -- In a related development, Foreign Undersecretary Yiannos Kranidiotis is expected to meet today with US ambassador to Athens Nicholas Burns.

According to press reports the two men will discuss the details of a US plan dealing with military issues of the Cyprus problem, which was submitted by Mr. Burns to Foreign Minister Theodoros Pangalos last week.

Athens News Agency

[02] Tsohatzopoulos optimistic gov't will overturn 'unfavourable climate'

Mr. Tsohatzopoulos, in his interview to yesterday's edition of the Kathimerini daily, noted that the climate toward PASOK is also due the fact that the goals set by the government are only partially realised.

He added that the climate will improve at the same rate as the government's success in achieving the goals, which it has promised the Greek people.

The minister isolated the development and the social policy sectors as the ones where the government is lacking.

He added that "we have not yet formulated new positive developments in these sectors for the citizens", but he expressed his optimism that PASOK "will find the correct policies to overturn the climate, through processes of dialogue with society."

Mr. Tsohatzopoulos argued for measures to aid those who are truly poor, although he said such policies do not solve the problem.

Furthermore, he noted that the long term application of measures toward the nominal convergence demands of the EMU "will lead a significant segment of the people to the margin."

The defence minister underlined, during the interview, that the governmental policies have widened the acceptance of PASOK within the conservative circles, but he added that this acceptance has reached its limits.

He noted that the losses of PASOK to the parties of the left present a great danger for the party, since they are larger in quantity.

Mr. Tsohatzopoulos stressed that PASOK must recover its credibility and influence at the central-left and left segments of the population.

He added that "we need policies, which will convince the social strata and will reconnect and reinforce their traditional ties with PASOK."

Furthermore, he stressed that PASOK must convince in a tangable way that the attempted changes will be for the benefit of the workers and the businesses alike.

Finally, the defence minister stressed that the PASOK party conference should focus on the "ideological and political stances" of the party.

Athens News Agency

[03] Key developments expected in banking sector thiw month

The main events this month are:

- An announcement is expected this week on whether the government will accept the outcome of a tender through the bourse last Friday to sell a majority stake in Bank of Central Greece.

Egnatia Bank was the highest bidder at 17.3 billion drachmas, but the Bank of Central Greece's staff association claims the bid falls well below the bank's market value.

The government last week called off a bourse tender to privatise Hellenic Duty Free Shops SA because the highest bid was considered too low. A fresh tender is expected in the autumn.

- National Bank of Greece, a blue chip on the Athens Stock Exchange especially popular among foreign investors, and National Mortgage Bank, its listed subsidiary, are due to have their merger plan endorsed by shareholders with both assemblies scheduled for August 20.

The new National Bank of Greece to emerge after Mortgage Bank is absorbed will have assets of more than 12.5 trillion drachmas; deposits exceeding 10 trillion drachmas, of which 3.4 trillion are in foreign exchange; and loans totalling 3.3 trillion drac hmas.

The bank's network will have 605 branches in Greece and more than 100 abroad, as well as over 700 ATMs.

- The deadline for bids in the privatisation of listed Ionian Bank, a subsidiary of Commercial Bank of Greece, through the bourse is on August 24. Fifty one percent of shares are on offer.

Alpha Credit Bank, Eurobank with Ergobank, and Bank of Piraeus are expected to bid, according to market sources.

Ionian Bank, which has 225 branches, was the first bank to operate in Greece when it was set up in 1839. Highest bid to privatise Bank of Central Greece falls short, staff says: -- Workers at Bank of Central Greece said Saturday that the highest bid in a tender to privatise the bank through the bourse fell far short of its market value, and the sale should be called off.

The bank's staff association said in a statement that the highest bid of 17.3 billion drachmas by Egnatia Bank was sharply lower than listed Bank of Central Greece's market value, which they set at 80 billion drachmas.

Employees were awaiting a decision on the tender by the government and the bank's parent, state-owned Agricultural Bank of Greece, the statement said.

Last week the government called off a tender to privatise Hellenic Duty Free Shops SA, again through the Athens Stock Exchange, after the highest bid was considered too low. A second tender is likely to be held in the autumn.

If the government also postponed the sale of Bank of Central Greece, which has 24 branches, then it should aid growth of the bank and ensure profitablity was maintained ahead of a new tender, the statement said.

Four domestic banks bid in the tender on Friday.

Ranking second was Aspis Bank with a bid of 16.1 billion drachmas, followed by Bank of Attica at 15.3 billion drachmas, and General Bank at 9.0 billion drachmas.

For sale were 51 percent of the bank's common shares and 20.01 percent of preferred shares held by the parent company.

Announcement of the winner is expected this week if the tender still stands. An evaluating committee will also take into account business plans submitted by bidders.

The sale is part of the government's wide-ranging plan to privatise state companies and banks in order to tighten up the public sector before Greece's entry into European economic and monetary union, expected by January 1, 2001.

Athens News Agency

[04] Lesvos to be represented at Ismir trade exhibition

Athens News Agency

[05] Operation continues to restore Thessaloniki-Europe rail link

Officials of state Hellenic Railways Organisation (OSE) said they were unable to estimate when the line would reopen to passenger and freight transport after fresh technical problems emerged, jeopardising an earlier target of resuming operations today.

OSE is transporting passengers by road between Thessaloniki and Idomeni at the border with the Former Yugoslav Republic of Macedonia (FYROM) using coaches. Workers began clearing the line on Saturday morning after a freight train carrying crude oil heading for the FYROM derailed outside Polykastro, northern Greece, on Friday afternoon. No injuries were reported.

Eleven of the twelve carriages that overturned in the accident could not be shunted along the tracks for removal due to damage. Repairing the tracks would probably take another full day, the officials said.

The haulage operation began on Saturday morning but soon came to a standstill when OSE's haulage machinery was unable to lift the carriages weighing about 80 tonnes each.

Work resumed on Saturday afternoon after privately contracted equipment arrived from Thessaloniki.

Two fire engines remained at the site of the accident in case crude oil still enclosed in the carriages caught fire. Three carriages containing crude were destroyed in a blaze that erupted when they overturned in the accident.

Residues of oil in the burnt carriages were recovered yesterday morning and siphoned into undamaged carriages.

A committee of experts is investigating the cause of the accident, including the track's condition and data from the engine's electronic tachymetre.

Athens News Agency

[06] Four men die in ancient gold mine

The coroner's report, sites lack of oxygen as the cause of death of the four amateur miners, which came about when their gassoline powered waterpump broke down and filled the mine with noxius gases.

Haralambos Taxidis, 50, G. Brylas, 46, Dimitrios Petridis, 47 and Dimitrios Vargiamidis, 48, apparently crawled inside the mine, which according to locals dates to the times of Alexander the Great, in efforts to discover gold.

They used a waterpump to drain water from areas they were to dig and when the pump broke down they attempted to escape but were not able to make it to the exit.

Police are conducting an investigation.

Athens News Agency

[07] Police officers suspended for abuse of power

The allegations of abuse of power and breach of duty involve the release of detainees, mainly women, who were being held in connection with their work in brothels and bars in the Vardari area of Thessaloniki.

The case came to light after four women from the former Soviet Union, arrested in June for prostitution, were released instead of being taken to a court that rules when suspects are brought within 24 hours of a crime being committed.

The officers suspended from duty belong to the Platia Dimokratias precinct in the Thessaloniki area.

The city's police chief, Theodoros Vlahos, told reporters that the incident was isolated.

Public prosecutor Ahilleas Zissis has launched an enquiry into the allegations.

Athens News Agency

[08] At least 25 dead on the roads

During the same period, about 130,000 cars passed the two main motorways.

Athens News Agency

[09] World Basketball Championship

Results:

• Yugoslavia-Canada 95-55
• Australia-Lithuania 71-61
• United States-Argentina 87-74
• Russia-Italy 71-55
• Greece-Puerto Rico 71-64
• Spain-Brazil 73-63

[10] Penalty imposed on Nigerian basketball player

The penalty was imposed by FIBA, the sport's ruling body.

Nwosu, who plays for a Turkish club and is a former member of Greece's Panathinakos, reportedly said he had taken medicine that contained ephedrine, which is banned as a performance-enhancing drug.

FIBA's general secretary, Borislav Stankovits, announced the penalty in Athens.

Athens News Agency

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