Athens News Agency: Daily News Bulletin in English, 98-08-21

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

CONTENTS

[01] Mortgage Bank shareholders approve merger with National Bank

[02] Greece's Vasdeki first in Euro-championship's triple jump

[03] Klima arrives in Thessaloniki today

[04] Gov't promises tabling of bill for land registry

[05] Civil defence bill approved

[06] Initial Lesvos-Imvros ferry connection cancelled by Turkish authorities

[07] Environmental group warns of Mediterranean's destruction

[08] F-4 crashes off Andros, 2 pilots missing

[09] Major shipment of cocaine seized on bulk carrier

[10] Restoration of Mount Athos monasteries

[11] US envoy on Cyprus leaves Ankara empty handed

[12] President says gov't stands firm on Russian missiles purchase

[13] Fixed agenda for Clerides-Simitis talks in Athens

[14] Economic News

[01] Mortgage Bank shareholders approve merger with National Bank

Athens, 21/8/1998 (ANA)

Mortgage Bank shareholders provided their authorisation to the board to sign and complete the plan, while National Bank of Greece's shareholders are also expected to approve the plan in a meeting on Sept. 9.

Mortgage Bank's governor, Vassilis Rapanos, said that a new National Bank that will be formed from the merger will have total assets of 12.5 trillion drachmas, pre-tax profits and provisions of 175 billion drachmas, deposits more than 10 trillion drachm as, of which 3.4 trillion in foreign exchange, and a lending portfolio totalling 3.3 trillion drachmas.

The combined group will operate 605 branches in Greece and more than 100 abroad, with more than 700 automatic transaction machines.

These figures would include National Bank among the largest financial institutions in Europe, Mr. Rapanos said.

Some of the main benefits from the merger will be a strong and single cash management, stronger presence abroad, higher growth potential in housing credit and retail banking.

Mr. Rapanos said that the combined group would also cut operating costs.

Athens News Agency

[02] Greece's Vasdeki first in Euro-championship's triple jump

Athens, 21/8/1998 (ANA)

Athens News Agency

[03] Klima arrives in Thessaloniki today

VIENNA, 21/8/1998 (ANA - D. Dimitrakoudis)

The two leaders are expected to discuss major political developments in the European Union as well as bilateral relations and the priorities of the Austrian EU presidency.

They will also focus on issues to be discussed at an unofficial European Council in Pšrtschach P set for Oct. 24-25 P as well as the official council on Dec. 11-12 in Vienna, which will mark the end of the Austrian presidency.

According to press reports, Mr. Simitis will brief Mr. Klima on Greece's national issues and Greek-Turkish relations, among others.

The Austrian presidency has set Nov. 10 as the inaugural date for accession talks by the six EU candidates countries - including Cyprus.

Furthermore, the two men will discuss conditions in Kosovo and the EU's Balkan policy.

The Austrian chancellor is also expected to visit the Mount Athos monastic community.

Athens News Agency

[04] Gov't promises tabling of bill for land registry

Athens, 21/8/1998 (ANA)

The registry, which is mandated by the European Union, will be financed by EU structural aid programmes.

Mr. Laliotis noted that the bill is presently in the hands of other ministers for their approval.

He underlined that in its first stage, the registry will include 358 municipalities and communities around the country for a total of two million acres and a budget of 41 billion drachmas.

Greece currently has no national land registry, instead local authorities often delineate land use and ownership.

The minister noted that in the first and second stages of the pilot programmes, the registry will include the creation of maps for 500,000 acres of forestland, which will cost one billion drachmas.

Finally, he noted that contracts involving 87,000 acres have been awarded.

Athens News Agency

[05] Civil defence bill approved

Athens, 21/8/1998 (ANA)

Under the new legislation, women in border regions will be obliged to serve in civil defence units for the first time in modern Greek history. One of the main aims of the bill is to organise local civil defence forces in border areas to provide supp ort in emergency situations in times of peace and war.

Civil defence (PAM) units will be set up in each municipality or community according to available manpower, in addition to national guard units.

The prefectural authorities of the country's border regions (eastern Aegean, Dodecanese, Thrace, Macedonia and Epirus) will be empowered to provide arms to the PAM units in times of war, mobilisation or tension, following approval by the Government Coun cil for Foreign Affairs and Defence (KYSEA).

Participation in PAM will be on a voluntary basis for young men and women aged 16-18, and for men and women above 65 and 50, respectively.

It will, however, be mandatory for men aged 18-65 except those serving in the military, national guard and security forces and those registered in reserve forces, and for women aged 18-50, except women who are pregnant, mothers of children up to 12 year s old or mothers of large families.

According to the amendments tabled by Mr. Tsohatzopoulos, salaried persons serving in the PAM will be given paid leave, while self-employed professionals will be given a lump sum, the size of which will be set by ministerial decision. The amount i s expected to be the equivalent of four days' wages, which will correspond to the period for which civilians will receive training in the PAM units. Speaking in Parliament during the debate,

Mr. Tsohatzopoulos said his ministry would begin taking steps to create the necessary infrastructure "even on the smallest islands".

In autumn, he said, another bill would be tabled in Parliament providing for the establishment of new camps and the re-opening of others which are not currently being used.

Athens News Agency

[06] Initial Lesvos-Imvros ferry connection cancelled by Turkish authorities

Athens, 21/8/1998 (ANA)

The Turkish official announced his decision via a fax sent to Lesvos prefecture, noting that the lack of customs and port of entry facilities on Imvros made it impossible for the ferry to enter its port.

The fax also noted that the vehicle and passenger ferry could only make the connection if it first went through the Canakkale port of entry in the Dardanelles.

Lesvos Prefect Alekos Mathiellis, in his reply, noted that the two-hour direct trip from Lesvos to Imvros would be increased to eight hours if transferred first to Canakkale, thus nullifying the practical as well as symbolic reasons for the route's exis tence.

Local authorities on Lesvos worked on the planned pilot ferry line over the last two years.

Athens News Agency

[07] Environmental group warns of Mediterranean's destruction

Athens, 21/8/1998 (ANA)

Attracting the highest number of tourists and having the most densely populated coastline of all seas worldwide, the Mediterranean is shared among 15 countries with a total population of 372 million people, as well as 64,500 hotel units.

Tourists and permanent residents, mainly in European Union countries, contribute to the production of 2.8 to 4 kilograms of garbage per household daily, while in African and Asian countries the corresponding number is less than half a kilogram daily.

Only 4 per cent of Mediterranean waters offer crustaceans that are safe for consumption while 25 per cent of shores are not recommended for swimming with the waters already polluted by millions of tonnes of sewage.

According to data provided by Mesaep, represented in Greece by the applied physics lab at the Thessaloniki Technical College, 85 per cent of urban sewage from 120 seaside Mediterranean cities are dumped into the sea unprocessed, which annually translate s into 150,000 tonnes of fossil fuels, 15,000 tonnes of carbolic acids, 80,000 tonnes of detergents, 31,000 tonnes of zinc and 4,800 tonnes of lead.

To prevent further destruction specialists suggest a total management of water resources, management of solid wastes, prevention and protection from ships' waste and coastline management with the implementation of housing programmes.

Athens News Agency

[08] F-4 crashes off Andros, 2 pilots missing

Athens, 21/8/1998 (ANA)

At presstime, both pilots on the downed plane were reported as missing, while search and rescue efforts were continuing. A C-130 transport plane, two air force helicopters and one navy helicopter had been directed to the region. Merchant vessels were al so participating in the search.

The two missing pilots were identified as Capt. Petros Polychronakis and 1st-Lt. Georgios Papathanasiou.

The F-4 had taken off with three other "Phantoms" from an airbase near Andravida to take part in a training exercise, codenamed "Ierakas", along with two Mirage-2000s.

Athens News Agency

[09] Major shipment of cocaine seized on bulk carrier

Athens, 21/8/1998 (ANA)

According to reports, the cocaine was stashed in pipes inside the engine room of the "Kleovoulos of Rhodes"vessel.

Authorities believe the drugs were destined for Greece, with an estimated street value of more than two billion drachmas.

Coastguard officials said the vessel, owned by the shipping firm "Celestial Maritime Corp," had sailed from Colombia for the port of Aliveri with a shipment of coal. Once unloading of the coal began, divers and drug squad officers boarded the 6 5,000 dwt vessel and found the cocaine packed in five sacks.

Eight Greek and 33 foreign merchant seamen were arrested while the vessel was confiscated.

Athens News Agency

[10] Restoration of Mount Athos monasteries

Athens, 21/8/1998 (ANA)

The 1.45-billion-drachma project will be funded by the European Free Trade Area (EFTA) and regards the monasteries of Simonos Petras, Agios Pavlos, Ormylias and Profitis Ilias.

European Investment Bank (EIB) Vice-President Panayiotis Gennimatas co- signed the contracts, since the bank will guarantee the EFTA projects.

Mr. Pachtas noted that to date more than 30 billion drachmas have been invested in the restoration of the monastic community.

He added that the government will aid every effort for the total restoration of the monasteries, which constitute an internationally recognised cultural treasure.

Meanwhile, EFTA-funded projects worth 2.72 billion drachmas are in progress and another seven contracts worth 3.88 billion drachmas will be signed by the end of the year.

Athens News Agency

[11] US envoy on Cyprus leaves Ankara empty handed

NICOSIA, 21/8/1998 (ANA/CNA)

State Department Cyprus coordinator Thomas Miller described his discussions with Turkish Foreign Minister Ismail Cem and Deputy Prime Minister Bulent Ecevit as "useful", but said "look at my hands. As you can see they are empty".

According to press reports, the American envoy came away empty handed on a proposal for a halt to flights by Greek and Turkish military planes over Cyprus.

The spokesman expressed the view that "the American government should take seriously into consideration Mr. Miller's assessment and see who is to blame for the tension in Cyprus and the eastern Mediterranean".

He added that the US government "should act accordingly".

Talks to settle the Cyprus problem reached a stalemate after demands by Turkish Cypriot leader Rauf Denktash for recognition of the illegal regime unilaterally declared in the areas of Cyprus occupied by Turkey since 1974.

Mr. Denktash also said he would not return to the negotiating table unless Cyprus withdraws its application to join the European Union.

Both Ankara and Mr. Denktash have strongly ciriticised the Cyprus government decision to purchase the S-300 surface-to-air missile system, expected to be deplo-yed later this year, claiming it creates tension on the island.

Athens News Agency

[12] President says gov't stands firm on Russian missiles purchase

LARNACA, 21/8/1998 (ANA/CNA)

Speaking on his return from his summer vacation, the president said ''the government has no plans to postpone the arrival of the S-300 missiles".

"For the time being, the decision of the National Council is still valid", he added.

The Council, the top advisory body to the president on the handling of the Cyprus question, has decided to deploy the missiles unless there is sufficient progress towards a resolution of the problem or moves leading to the demilitarisation of the island .

The president dismissed press suggestions that he had told close aides that the missiles would not arrive in Cyprus if the government of Greece objects to this.

The government of Cyprus has repeatedly stressed that the missiles are a purely defensive weapons system and would not be used to attack anybody.

The decision to order the Russian missiles has come under fire from various circles, including the US and Britain, who consider it would increase tension in the area.

Asked if there is any divergence of views between the Cypriot and the Greek governments on proposals for a moratorium of military flights by Greek and Turkish aircraft over Cyprus, Mr. Clerides said "the idea of a moratorium has not been debated since i t was discussed and rejected".

He said both goverments oppose a moratorium of flights.

The Cyprus government considers that a no-fly zone can be established provided there are UN or other guarantees to oversee its implementation.

Athens News Agency

[13] Fixed agenda for Clerides-Simitis talks in Athens

NICOSIA, 21/8/1998 (ANA/CNA)

He added that issues to be reviewed have been decided after consultations with Greek Deputy Foreign Minister Yiannos Kranidiotis and the ambassadors of the two countries.

Replying to questions, the spokesman said there is no specific request for the National Council (top advisory body to the president on the Cyprus issue) to meet the Greek premier together with the president next week.

Mr. Stylianides added that Cypriot leaders have expressed their wish for such a meeting and the issue will be discussed by the two leaders in their Athens meeting.

The spokesman underlined that "there is absolute identity of views between the governments of Greece and Cyprus in their strategic goals and the handling of various issues".

He pointed out that the Greek government supports Cyprus, follows developments in the Cyprus problem and cooperates with the country's political leadership.

Athens News Agency

[14] Economic News

Athens, 21/8/1998 (ANA)

Traders said investors preferred to liquidate their previous two sessions' big gains ahead of a decision to sell Ionian Bank by the end of the month.

The general index ended 0.96 per cent off at 2,675.44 points, reversing a 6.38 per cent gain in the previous two days of the week. Turnover was moderate at 45.6 billion drachmas.

Sector indices were lower. Banks fell 1.04 per cent, Insurance dropped 2.09 per cent, Investment was 1.44 per cent off, Leasing fell 1.86 per cent, Industrials ended 1.03 per cent lower, Construction declined 1.34 per cent, Holding fell 2.16 per cent bu t Miscellaneous rose 0.08 per cent.

The parallel market index for small cap companies ended 0.60 per cent higher, while the FTSE/ASE 20 index fell 0.84 per cent to 1,641.30.

Broadly, decliners led advancers by 174 to 70 with another 18 issues unchanged.

Elve, Sarandopoulos, Viosol, Boutaris, Athinea and Tasoglou scored the biggest percentage gains hitting the daily 8.0 percent limit up. Keranis, Sportsman, Kekrops, Attikat, Radio Athina and Ermis suffered the heaviest losses.

National Bank of Greece ended at 53,280 drachmas, Ergobank at 30,750, Alpha Credit Bank at 26,660, Ionian Bank at 17,600, Hellenic Telecoms at 8,150, Delta Dairy at 3,730, Intracom at 12,900, Hellenic Petroleum at 2,880 and Titan Cement at 21,700.

Emboriki Insurance profits: The Emboriki Insurance company, a subsidiary of the Alpha Credit Bank group, recorded total premium production of 3.35 billion drachmas in 1997, up 45 per cent from 1996.

Profits reached 600 million drachmas, rising 75 per cent from 340 million the year before.

Emboriki recently announced its merger with the Hellenic-British Insurance company, controlled by the Paleologos family.

The new company, to be named Alpha Insurance, will begin operations in early 1999.

Greek products in Cyprus: A Hellenic Foreign Trade Board (HEPO) bulletin has detailed what it terms the major interest by the Cypriot market for a variety of Greek products imported to the island republic, either for local consumption or re-exportation.

Items attracting most of the interest include clothing apparel, clothing accessories, wedding giftware, beach items, health food products, concentrated or plain fruit juices, bottled water, construction materials P mainly marble P security and fire-safe ty systems as well as packaging materials, popular art items and photography products.

Athens News Agency

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