Athens News Agency: Daily News Bulletin in English, 98-08-04

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

CONTENTS

[01] Burns says recent tension in Greek-US relations over

[02] Devastating fire on Mt.Penteli attributed to arson

[03] President calls for increase in women candidates in upcoming local elections

[04] Armed robbers hold up maternity hospital

[05] Excessive heat claims lives of 11 senior citizens

[06] Gov't bill to ease entry into Athens bourse, boosting expansion

[07] Egnatia Bank wins tender for privatisation of Bank of Central Greece

[08] Gov't to keep incomes policy unchanged despite claims - minister

[09] Greek stocks slip in profit-taking focused on banks

[10] Commission approves ECU 60 mln for projects in Greece

[11] Agricultural Insurance to seek listing

[12] Xiosbank announces pre-tax profits

[13] New coast guard station in Xanthi

[14] Fire breaks out on Greek freighter

[15] Antiquities department decides on new projects

[16] Economy undersecretary addresses regional council

[17] Thessaloniki-Europe rail link resumes

[18] Sailor runs amok on yacht

[19] World Basketball Championship

[01] Burns says recent tension in Greek-US relations over

Mr. Burns said he had an "excellent" meeting with Mr. Kranidiotis at which a range of issues was covered, including Greek-Turkish relations, bilateral relations with the US and the Cyprus problem.

In statements to the ANA, Mr. Burns said Washington and Athens were working very closely "on all these problems and that was the basis for our discussion today".

Mr. Burns said his meetings with Mr. Pangalos last Thursday and with Mr. Kranidiotis yesterday "effectively put to a close the recriminations between our two governments over what we thought were unwarranted comments made about President Clinton".

Mr. Pangalos drew criticism from the US State Department when he charged that President Clinton's election campaign promises concerning a solution to the Cyprus problem had proved to be "a gross lie".

Mr. Burns said his meetings with Mr. Pangalos and Mr. Kranidiotis were "evidence" that the United States and Greece "can and will work together well in the future".

Mr. Kranidiotis told the press that his meeting with the US ambassador was the continuation of Mr. Burns' meeting with Foreign Minister Pangalos and was part of the "regular consultations and contacts we have with the American side".

Mr. Kranidiotis added that yesterday's talks focused on US-Greek relations, the Cyprus issue and the Kosovo crisis.

Reports said that the two men discussed the prospects for the resumption of intercommunal talks in Cyprus and "various ideas" concerning the island republic's armaments programme, including the issue of the Russian anti- aircraft S-300 missile system.

The missiles, ordered by the internationally recognised Cyprus government, 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 th e decision of the Cyprus government to buy the defensive missile system.

Greece, defending Cyprus' decision, said the island republic had the inaliable right to take measures in order to guarantee its security.

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.

The same reports said after yesterday's talks between Deputy Foreign Minister Kranidiotis and Mr. Burns that the former will discuss these issues with Cypriot officials in Cyprus at the end of the week. The talks will prepare the ground for the contacts

Cyprus President Glafcos Clerides will have in Athens during his visit on August 27. Constantopoulos: -- Coalition of the Left leader Nikos Constantopoulos yesterday called on Prime Minister Costas Simitis to brief the political parties on the recent developments of the Cyprus issue and the Greek-US relations.

Mr. Constantopoulos repeated his proposal for a meeting of all political parties with the President of the Republic and said that the Greek people are entitled to know what is happening behind the scenes of the diplomatic and political stages on the Cyp rus issue, the Greek-Turkish developments and the Aegean.

Athens News Agency

[02] Devastating fire on Mt.Penteli attributed to arson

During a press conference the prefect said that his office had received three anonymous telephone calls warning that the areas of Dionyssos, Stamata and Penteli would be set ablaze.

Officers of the fire department said that arson could be proved by the fact that the Sunday fires promulgated from the location Koukounari which is in the middle part of the mountain, while yesterday, residents of the areas that are threatened by the bl aze said that they saw fires starting simultaneously at ten different points.

When strong winds yesterday morning started blowing in the area, the blaze from Koukounari spread to Dionyssos and for many hours firemen backed by local residents and hundreds of troops and two choppers unsuccessfuly tried to prevent the flames from re aching the forest of Old Penteli.

According to fire department officials, the damage was extensive because strong winds yesterday morning strengthened the blaze and at the same time hampered the efforts of two fire aircraft attempting to make drops of flame- retardant liquid.

A children's hospital and a military medical unit were evacuated, four houses and five cars suffered damages, while ten fire-fighters that had been marooned in the flames with two fire-trucks were saved the last minute by their colleagues.

Until late last night, the fire was still in progress and fire department officials said that it was difficult to identify the exact location of either small or large fire fronts because late in the night the fire choppers stopped flying.

Forestland damaged by the blaze is located in Stamata, Dionyssos, Agios Petros, Agios Stephanos, Rodopolis and Old Penteli.

In a related development, the leadership of the Central Archaeological Council and the secretary-general of the Culture Ministry visited the site of the Archaeological Museum of Marathon, which was threatened by the forest fire.

Athens News Agency

[03] President calls for increase in women candidates in upcoming local elections

During a meeting of the president with the Greek Women's Political Association yesterday noon, EU deputy Anna Karamanou (PASOK) thanked Mr. Stephanopoulos for his sensitivity on the correct function of the democratic institutions in the country and she remarked that Greece is deprived of the imagination, the ideas and the productive thought of women.

"The absence of female creativity from the democratic institutions and especially from the elected local administration posts is tragic," Ms Karamanou said.

New Democracy parliamentary representative Elsa Papadimitriou, also attending the meeting, maintained that the Greek Parliament is significantly lacking not only in numbers, but also in ways of thinking. "It is not merely about decreasing the democratic deficit, it is mainly about using the creativity and the ability of the 51% of the Greek people," she said.

Mr. Stephanopoulos agreed that women participation and representation in the administration bodies is an issue of democracy and civilisation.

"These two naturally go hand-in-hand, yet, the participation of women in the political arena proves not only smooth operation of the democratic process but also a higher level of civilisation in our country. I do not think there are any objections to t hat, but maybe, we have not sufficiently seeked ways for the application of this indisputable principle," the president said.

Finally, the president called on all political parties to consider the causes of the Women's Political Association and, on their own initiative, increase the representation of women on the candidacy rosters in the next local administration elections.

Athens News Agency

[04] Armed robbers hold up maternity hospital

One robber waited at the entrance to the hospital while his two accomplices made their way to the accounts department where they threatened employees with a revolver and stole 100,000 drachmas.

They then seized a further 10 million drachmas from the Commercial Bank counter and fled after firing three shots in the ceiling.

A doctor at the hospital, Antonis Mitsis, who tried to stop the two robbers as they were leaving, was pistol-whipped.

Athens News Agency

[05] Excessive heat claims lives of 11 senior citizens

The victims, who died at the hospitals where they were taken, averaged above 65 years of age and they had been suffering from chronic cardiovascular and respiratory ailments.

Assistant forensic medicine professor Mr. Matheos Tsougas, who performed the autopsy on the bodies, said that all evidence led to suspicions of excessive heat behind the deaths.

"They were individuals with serious and chronic respiratory problems. This fact, together with high temperatures and humidity, created the basis for suspicion that they died due to the weather conditions during the past few days," said Mr. Tsougas and c alled the incident unusual.

Recently, temperatures in Thessaloniki soared to 38 Celcius while the discomfort rate index reached 29.5 with 26 being the normal maximum.

Doctors consider these weather conditions intollerable for patients with chronic cardiovascular and respiratory problems, advising against exposure to them and to remain inside air-conditioned environments.

Relative guidelines have also been provided by all prefectures as well as by the health ministry.

Athens News Agency

[06] Gov't bill to ease entry into Athens bourse, boosting expansion

"The bill modernises the stock market and harmonises it with other stock exchanges in Europe," National Economy and Finance Minister Yiannos Papantoniou, who supervises the bourse, told a news conference.

Many companies were likely to seek listing from the autumn after the bill, which has been given to trade groups for comment, becomes law, Mr. Papantoniou said.

The bill is due to be given to parliament in September or October for debate and a vote.

The main provisions of the bill are as follows:

- Application for listing requires the publication of balance sheets for three consecutive years. A previous requirement of five straight years of profitability has been scrapped

- The asset composition of applicants has to be satisfactory on the basis of their latest balance sheet, with a floor for equity capital of 1.5 billion drachmas from one billion currently in force

- A share capital increase is no longer mandatory for entry into the bourse

- A company's share distribution on listing will be acceptable if at least 25 percent of stock has been sold to the public

- The price of a share can vary for sale to different categories of investors. It can also be fixed or fluctuate within a range of 15 percent either way

- The underwriters of initial public offerings will have the right to intervene in the market in order to support a stock's price for six months from the company's date of entry

- For entry into the bourse's parallel market for smaller cap stocks, companies must have a minimum equity capital of 500 million drachmas and have published two balance sheets before entry.

They will also have to post high enough profits in the fiscal year before entry to allow payment of a dividend equivalent to six percent of their stock's price.

Firms already listed on the parallel market will have to increase their share capital to 500 million drachmas within the next three years.

Athens News Agency

[07] Egnatia Bank wins tender for privatisation of Bank of Central Greece

The board of directors of the parent company, Agricutural Bank of Greece, announced that it had accepted Egnatia's bid in the tender held on Friday.

The sale is part of the government's programme to partly or fully 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.

On the auction block were 51 percent of common shares in Bank of Central Greece and 20.1 percent of preferred stock.

Egnatia, one of four domestic banks that took part in the tender, offered the highest bid at 17.3 billion drachmas.

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.

The purchase will give Egnatia a network of nearly 50 branches following the acquisition of Bank of Central Greece and its 24 branches.

Egnatia's assets will rise to 294.6 billion drachmas, deposits to 238.9 billion, loans to 163.7 billion, and equity capital to 24.2 billion drachmas. The number of staff will exceed 1,100 after the purchase.

Listed Egnatia Bank is to raise its share capital by the same or more as the price it will pay for Bank of Central Greece.

National Economy Minister Yiannos Papantoniou said before the announcement of the buyout was made that the sale process had been successful.

"This development reinforces the government's privatisation policy ... Privatisation (tenders) will go ahead whenever the price is considered to be satisfactory, Mr. Papantoniou told reporters.

On Saturday, workers at Bank of Central Greece claimed that the highest bid in a tender to privatise the bank bourse fell far short of its market value, and asked for the sale to be called off.

According to the bank's staff association, the highest bid of 17.3 billion drachmas by Egnatia Bank was sharply lower than than listed Bank of Central Greece's market value, which they set at 80 billion drachmas.

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.

Athens News Agency

[08] Gov't to keep incomes policy unchanged despite claims - minister

"There is no leeway for a change in incomes policy ... There is no basis for change," Mr. Papantoniou said in reply to a reporter's question.

He was asked to comment on the government's reaction to claims for more pay by unions; and to court rulings on salaries for judges that apparently ran contrary to current incomes policy.

The minister lashed out at some judges, whom he claimed were trying to set their own salaries.

"They are ungrateful ... It is senseless for cetain social groups to take their own decision on wages, exploiting their position and rights accruing from the constitution," Mr. Papantoniou said.

A revision of the constitution underway would remove these rights. But judicial workers' union leaders and most judges had taken a reasonable stand in the question of pay, he said.

Athens News Agency

[09] Greek stocks slip in profit-taking focused on banks

The Athens general share index ended 0.29 percent down at 2,789.23 points. The FTSE/ASE 20 index lost 0.54 percent to close at 1,705.37 points.

Turnover slid to 49.2 billion drachmas from 61.8 billion drachmas in the previous session.

Trade was marked by profit-taking especially in the heavily weighted banking sector. The main target was blue-chip National Bank of Greece, which had risen sharply last week in the wake of favourable reports by international investment houses.

Sector indices mostly finished higher. Banking shed 0.90 percent, Leasing surged 8.0 percent, Insurance nosed down 0.10 percent, Investment crept up 0.26 percent, Industrials were 0.02 percent up, Construction rose 1.64 percent, Holding edged up 0.63 pe rcent, and Miscellaneous edged up 0.07 percent.

The parallel market index for small cap companies finished 1.33 percent higher.

Of 259 stocks traded, advances led declines at 150 to 94 with 15 shares remaining unchanged.

The day's biggest percentage gainers finishing at the daily upper eight percent volatility limit were Yalco, Piraeus Leasing, Athina, Shelman, Alpha Leasing, Klonatex (preferred and common), Thrace Plastics, Macedonia Plastics (common) and ETBA Leasing.

The day's biggest percentage losers were General Bank, Bank of Central Greece (common and preferred), Bank of Attica, Lampsa, Nimatemboriki, Thessaliki, Bank of Piraeus, Sarandopoulos Mills and National Portfolio.

National Bank of Greece ended at 54,320 drachmas from 55,850 drachmas in the previous session, Ergobank at 31,700, Alpha Credit Bank at 29,700, Ionian Bank at 17,800, Commercial Bank of Greece at 29,585, Delta Dairy (common) at 4,000, Intracom (common) at 13,300, Titan Cement (common) at 23, 800, Hellenic Petroleum at 2,870 and Hellenic Telecommunications Organisation at 8,400 drachmas.

Athens News Agency

[10] Commission approves ECU 60 mln for projects in Greece

The Commission approved ECU 27.6 million for the road network in Greece, which is allocated for the construction of the Egnatia motorway, connecting the western port of Igoumenitsa with the Evros prefecture Greek-Turkish border crossing at Kipi.

The more than 600 kilometre highway is part of the European network of highways and will facilitate East-West trade.

Specifically, ECU 4.6 million will be allocated to the Peristeri-Anthohorion tunnel section of Egnatia, and another ECU 4.4 million will be allocated to the connection of the highway to the Metsovo tunnel, which has been completed but is not used since it is not connected to the rest of the highway.

Furthermore, the Commission allocated ECU 13.9 million for the Kavala detour of Egnatia and ECU 4.7 million for the detailed engineering of the Polymilos-Panagia section of the highway.

The remaining ECU 34.4 million approved by the Commission is for environmental and quality of life projects.

In detail these projects include an allocation of ECU 20 million for the detailed engineering project of the Evinos River water supply, which will increase the water supply on Attica by 25 per cent on a yearly basis.

The Commission allocated ECU 2.1 million for the Soufli liquid waste plant and ECU 1.9 million for the Kastoria liquid waste plant, while for similar projects the Commission approved ECU 4.2 million for the community of Sarti, Chalkidiki, ECU 1.8 mill ion for the island of Leros and ECU 3.6 million for the municipality of Keratea, Attica.

Athens News Agency

[11] Agricultural Insurance to seek listing

According to the IPO, the company ranked top among general insurance companies in 1997, posting earnings of 1.938 billion drachmas.

Athens News Agency

[12] Xiosbank announces pre-tax profits

According to the announcement, the increased earnings of the bank are due to increased customer base, interbank trade and low risk strategies during the Spring financial crisis.

Athens News Agency

[13] New coast guard station in Xanthi

Merchant Marine Minister Stavros Soumakis will inaugurate the new station August 18, while the ministry is expecting that it will be operational on that same day.

Efforts are underway to staff the new station with the necessary personnel and matteriel, since it will be responsible for a wide coast line stretching from the Nestos River delta to the Rodopi prefecture limits.

The responsibilities of the new station will be to guard against illegal activities both at sea and on the coastal zone.

Athens News Agency

[14] Fire breaks out on Greek freighter

- which includes nine Greeks - are injured.

As soon as it was informed of the fire, the ministry's Search and Rescue Centre notified the local authorities and other vessels in the region, at least four of which sped to the assistance of the "Sea Dream".

The company which owns the vessel, "Unity Shipping", meanwhile informed the ministry that a tug-boat had also sailed to the area from Las Palmas.

The "Sea Dream" was sailing from Argentina to Alexandria, Egypt with a cargo of soya.

Athens News Agency

[15] Antiquities department decides on new projects

The projects which are to be compleeted within 1999 include the clearing of brush and vegitation of archaeological areas at Keramikos, classical Greek and Roman Agora (forum), Olympion Library of Hadrian, north and south slopes of the Acropolis and Phil opappou.

According to ministry sources, the clearing of vegitation has already brought to light archaeological treasures from earlier incomplete digs.

Athens News Agency

[16] Economy undersecretary addresses regional council

Mr. Pachtas noted that the 25-year cycle of the Greek economy's adjustment to the international environment has closed .

This 25-year period was characterised byslow development, while during the 2000-2006 period conditions will be better, since Greece will have significant funds at its disposal.

In a related development, the undersecretary yesterday attented the "Initiation of funding of medium and small businesses funding programmes" event hosted by the Achaia Chamber of Commerce.

Athens News Agency

[17] Thessaloniki-Europe rail link resumes

A freight train carrying crude oil heading for the Former Yugoslav Republic of Macedonia (FYROM) derailed outside Polykastro, northern Greece, on Friday afternoon. No injuries were reported.

Workers on Sunday night cleared the last of 12 wagons which overturned in the accident and Greek Railways Organisation (OSE) teams have been carrying out repairs to the line since early this morning.

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

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

Three carriages containing crude were destroyed in a blaze that erupted when they overturned in the accident.

A special committee is conducting an investigation into the cause of the accident, examining the track's condition and data from the locomotive's speedometer.

Its findings will be announced after August 10.

Athens News Agency

[18] Sailor runs amok on yacht

The "Thelginos" was anchored at Kyra Panagia off the Aegean island of Alonissos when the attack took place. The sailor, Roberto Yiannousi, first injured the skipper, Nikolaos Klaromenos, 56 and then a colleague, Vassilios Hasandras, 45. He then doused p arts of the yacht with gasoline and set it alight. The four Greeks and seven Canadians on board the yacht managed to put out the blaze before being transferred to nearby boats. Coastguard vessels later transferred the two victims of the attack, alo ng with Yiannousi - who suffered burns - to the health centre on Alonissos.

Athens News Agency

[19] World Basketball Championship

Results:

• Puerto Rico-Canada 94-81
• Lithuania-Argentina 84-75
• Australia-Brazil 75-63
• Italy-Yugoslavia 61-60
• Russia-Greece 60-48
• United States-Spain 75-73

Athens News Agency

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