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Athens News Agency: Daily News Bulletin in English, 98-08-12Athens News Agency: Daily News Bulletin in English Directory - Previous Article - Next ArticleFrom: The Athens News Agency at <http://www.ana.gr/>CONTENTS
[01] IMF urges economic austerity, public sector overhaul for GreeceWASHINGTON, 12/8/1998 (ANA/AFP)The International Monetary Fund (IMF) has urged Greece to implement its economic austerity programme strictly and carry out a radical restructuring of the public sector.In its annual report on the Greek economy, the IMF congratulated the country on its 13.8 per cent devaluation of the drachma on March 14, linked to entry into the European Union's exchange rate mechanism. It also welcomed the implementation of a monetary policy that aims to take Greece into the EU's economic and monetary union (EMU) by 2001. The IMF noted that Greece's targets for 1998 and 1999 were feasible, but attainment could not be guaranteed. The budget deficit should fall to 2.1 per cent of gross domestic product in 1999 and 0.8 per cent of GDP in 2001, which is why a radical overhaul of the public sector was needed, the report said. The IMF criticised the existence of a broad and ineffectual public sector, and the state's ubiquitous presence in the economy. The government's privatisation programme could ease the country's debt burden, the report said. Manos on EMU: In an announcement sparked by the release of IMF's report, independent deputy (former ND government national econony minister) Stephanos Manos questioned Gree-ce's potential to achieve its main national target to join EMU with a delay of two years. The former minister expressed fears that "weak convergence efforts in the last few months" may fail due to this autumn's local elections and "vested interests" ravaging the economy. The state's limited presence in the banking sector as well as abolition of public utilities' monopolistic privileges and a strict implementation of the incomes' policy across the public sector are Mr. Manos' proposals for the country to secure entry int o EMU. Athens News Agency[02] Reward for information regarding US embassy bombings in AfricaAthens, 12/8/1998 (ANA)The US embassy in Athens yesterday announced a US$2 million reward to anyone who will provide information on the recent bombings of US embassies in Nairobi, Kenya and Dar es Salaam, Tanzania.More than 150 people were killed and more than 5,000 injured in the twin attack against the embassies. The reward will be funded by Washington's "counter terrorism rewards programme". The US administration also mentions relocation and identity protection to persons who will provide such information. Interested individuals should contact the nearest US embassy or consulate, or should write to HEROES, P.O. Box 96781, Washington D.C. 20090-6781, USA. Athens News Agency[03] Simitis hosts Jospin to Aegean holidayAthens, 12/8/1998 (ANA)Greek Prime Minister Costas Simitis and his French counterpart Lionel Jospin met on a strictly private basis yesterday on the Aegean island of Siphnos.Mr. Simitis flew early yesterday morning to the island of Antiparos on a military helicopter to meet Mr. Jospin, his wife and their three children and escort them to Siphnos where he is holidaying himself. The two prime ministers and their wives took a short walk around the Apollonia neighbourhood of the town, sipped Greek coffee at a local establishement, and later cruised around the island on a yacht. In the afternoon they visited the Governor of the National Bank of Greece Theodoros Karatzas at his home in the medieval settlement of Kastro in Siphnos. Mr. Jospin told the few reporters present that "politics is absent from our company today, but will be present on August 31 at a very interesting event that my friend Costas and I are organising together (in Athens) on the Left and its perspectives". Athens News Agency[04] OA blames increased air traffic for delaysAthens, 12/8/1998 (ANA)Olympic Airways' (OA) administration yesterday blamed excessive traffic in Greek airspace for increased delays over the past two days for all OA flights as well as for most other foreign carriers using Athens airport's east terminal. The announcement said that the loss-making national air carrier was overcoming the many and serious problems it has been facing in recent months due to implementation of a latest restructuring programme, while most of its flights were now being carried out normally to all des tinations.Athens News Agency[05] Focus on Orthodox Church financesAthens, 12/8/1998 (ANA)Archbishop of Athens and All Greece Christodoulos yesterday requested of Metropolitan of Karistias Serapheim to specify charges against persons accused of involvment in financial misdeeds.He added that the Church's leadership will meet in October to decide on specific issues regarding the investigation of Church finances during the 1994-96 period. Meanwhile, a member of the church's financial council resigned over a dispute related to ch arges levelled against lay persons for development of real estate in Vouliagmeni. Finally, Metropolitan of Serres Maximos said that the Church's leadership in charge of finances has increased responsibilities which border criminal negligence. Athens News Agency[06] Signal flares discovered in Cretan forestAthens, 12/8/1998 (ANA)Three signal flares were discovered in a forest at the Aghia Irini, Irakleio site on Monday, as authorities believe the flares were part of a failed attempt by arsonists to torch the forest.Local residents discovered the German-made flares, which are not available at stores, while a fourth was found yesterday in the area during a site inspection conducted by fire brigade officials from Irakleio. Investigators are also looking for fingerpri nts possibly left on the flares. Flares and gas cannisters were also found in a number of areas ravaged by fires this summer, a fact leading authorities to suspect arsonists, believed to be on the payroll of land grabbers and squatters. Meanwhile, rewards ranging from five to 20 million drachmas are offered for information regarding forest fires throughout the country since July 1. Anyone providing information leading to the arrest of arsonists will be allowed to retain their anonymity , officials stated. On the fire front, a blaze that broke out yesterday afternoon at the Drafi site on Mount Penteli is under control, while two fronts are still burning at Ermioni in Argolida, and Leondari in Megalopoli, both in Peloponnese. On its part, the main opposition party New Democracy (ND) party issued a challenge to the government for a televised discussion on the issue of forest fires, according to ND spokesman Aris Spiliotopoulos. He added that the government is "hiding behind a televised monologue" and that the Greek people are entitled to actual information regarding the "senseless choices of the government that have caused the unprecedented ecological destruction with the fire s during the past two months". Athens News Agency[07] Smoking ban at archaeological sitesAthens, 12/8/1998 (ANA)The culture ministry issued a circular yesterday banning smoking in the country's archaeological sites and museums. The decision comes after repeated complaints by archaeologists and museum staff that some visitors extinguish their cigarettes on monuments .Athens News Agency[08] Drama investmentAthens, 12/8/1998 (ANA)Drama officials yesterday announced that the prefectural administration has allocated one hectare of land in the Xiropotamos industrial zone to a group of Italian investors for a new two-billion-drachma high-pressure boiler manufacturing plant.Athens News Agency[09] Small gov't employment subsidy to 13 hotelsAthens, 12/8/1998 (ANA)Thirteen hotels and tourist enterprises will receive employment subsidies on the basis of a decision approved yesterday by the labour ministry. The subsidies, paid out by the Manpower Employment Organisation (OAED), are designed to prolong the employment period of 1,116 employees in the tourist sector for one to three months, at a total cost of 35.69 million drachmas.Athens News Agency[10] Drowning, windsurf accidentAthens, 12/8/1998 (ANA)An elderly Swedish tourist drowned yesterday while swimming off the coast at Nea Hora, Crete. In addition, an Italian national was seriously injured on Monday afternoon while windsurfing off Lagouna on Naxos. The Swedish man was identified as Erik LennartJansson, 69. Hania port authorities are conducting an investigation into the circumstances of the drowning. On Naxos, meanwhile, Bruno Vinchesi, 43, was injured when another windsurfer lost control of his board and crashed into the victim, who was also windsurfing in the same area. Mr. Vinchesi was initially taken to the Naxos Health Centre before being flown to Athens and admitted to the Voula hospital. Physicians said his left kidney had been damaged and his spleen may have been ruptured in the accident. Athens News Agency[11] Minion dept. store to reopenAthens, 12/8/1998 (ANA)A settlement reached by the central Athens Minion department store and its creditors as well as a settlement of debts with the Public Power Corp. (DEH) will apparently keep the longtime business in operation. Minion will reopen today.Athens News Agency[12] Women's group meet with prefecture union's presidentAthens, 12/8/1998 (ANA)Representatives of the WomenYs Association political group yesterday visited the president of the Union of Prefectures, Evangelos Kouloumbis, requesting greater participation of women in local administration. Mr. Kouloumbis said that "women are particula rly suitable for local government administration since they are closer to citizens", while he reassured the group's representatives that he would ask prefectures throughout the country to ensure a larger participation of women in the candidate rosters in upcoming local government elections.Athens News Agency[13] Economic NewsAthens, 12/8/1998 (ANA) Abolition of 15% tax on repos planned: The finance ministry is pushing through an amendment abolishing the 15 per cent tax on income accruing from agreements for the repossession or resale of state securities (repos), it was announced Monday.The measure is interpreted as a move to revatilise the market for bonds and T-bills which has been flagging in recent years, chiefly due to the high level of interbank rates in recent years, compared to those of state securities, and possibly due to th e tax imposed on them in mid-1994. The Coalition of the Left (Synaspismos) said the measure would maintain the over-taxation of the weak social strata, and would not contribute anything to investment or the rehabilitation of the economy. "The government is seeking new accounting alchemies to cover its failures and the gaps in the budget," the Synaspismos statement said. Also reacting to the announcement, the Democratic Social Movement (DHKKI) party said the government again proved with its move that it was anxious to protect the interests of big capital, "continuously increasing the tax burden on the poorer social stra ta." Greek stocks dive in the wake of turmoil in world markets: Greek equities ended sharply lower in scant trade on the Athens Stock Exchange yesterday hit by renewed turbulence in international markets. The general index ended 3.09 percent lower at 2,611.30 points, and turnover totalled 37.5 billion drachmas. Sector indices suffered losses. Banks dropped 3.01 percent, Leasing fell 2.18 percent, Insurance eased 2.07 percent, Investment ended 2.24 percent off, Industrials dropped 3.21 percent, Construction ended 2.58 percent off, Holding dropped 3.63 percent an d Miscellaneous ended 3.27 percent down. The parallel market index for small cap companies ended 1.85 percent off, and the FTSE/ASE 20 index dropped 3.13 percent to 1,587.36 points. Broadly, decliners led advancers by 213 to 38 with another 9 issues unchanged. Dorian Bank soared 98.33 percent on its maiden appearance in the market. The bourse's volatility rules do not apply to new listings. Klaoudatos, Minerva, Elfico, Seafarm Ionian, Tasoglou and Boutaris scored the biggest percentage gains hitting the daily 8.0 percent limit up. Bank of Central Greece, Nematemboriki, Development Invest, Hellenic Mills, Terna, Metrolife, Hellenic Cables suffered the heaviest losses. National Bank of Greece ended at 50,200 drachmas, Ergobank at 30,395, Alpha Credit Bank at 26,500, Ionian Bank at 16,810, Delta Dairy at 3,760, Hellenic Telecoms at 7,775, Intracom at 12,555, Hellenic Petroleum at 2,730 and Titan Cement at 21,700. Athens News AgencyAthens News Agency: Daily News Bulletin in English Directory - Previous Article - Next Article |
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