Athens News Agency: Daily News Bulletin in English, 98-12-08

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

CONTENTS

[01] Simitis-Schroeder talks focus on `Agenda 2000` financing

[02] Central bank to cut intervention rates this week, minister says

[03] Stocks jump as market players discount lower interest rates

[04] Panafon to join bourse's FTSE/ASE-20 index

[05] National Bank of Greece chief sees EMU entry close at hand

[06] NAPC lay-offs entire workforce

[07] Athens Foreign Exchange

[08] Simitis: EMU not the EU's final goal

[09] Karamanlis promises reduction in bureaucracy if ND elected

[10] EU foreign ministers' council agree on text for Vienna summit

[11] Gov't says new radars up by summer as IATA condemns delays

[12] Ankara irritated over Italian, German proposal on Kurdish issue conference

[13] Prosecutor orders probe into OTE dealings

[14] Reppas reiterates Nicosia,Athens decisions over S-300s

[15] Russia's Zyuganov in Athens

[16] Arsenis to continue tour of schools in spite of protests

[17] Thessaly-area farmers gear for mobilisations

[18] Papaioannou: Gov't encourages 35-work week through collective bargaining

[01] Simitis-Schroeder talks focus on `Agenda 2000` financing

BONN 08/12/1998 (ANA - P. Stangos)

However, in statements to the press following Mr. Simitis' meeting with the new German chancellor, both men said that they would deal with the problem "in a spirit of mutual understanding, with all eyes trained on the future and with the goal of succeed ing in reforms to the EU".

Greece and Germany differ on the issue of funding for the EU's 'Agenda 2000' programme of budget and spending policy reforms.

Athens is opposed to a proposal for a freeze of funds for 2000-2006 and spending cutbacks for economic and social cohesion to allow poorer countries to catch up with wealthier EU partners.

Mr. Simitis said that Greece, given its position on the "last step on the EU ladder", insisted on the policy underpinning the social and economic cohesion funds.

Mr. Schroeder said he understood the existence of diverging interests, and admitting that the German EU presidency's work on 'Agenda 2000' was "particularly difficult".

Germany takes over the rotating presidency of the European Union on Jan. 1, 1999 and will preside over talks on budgeting, expected to conclude in March.

Regarding Turkey's status vis-a-vis accession to the European Union, Mr. Schroeder said it took the Copenhagen summit criteria on Turkey's bid to join the EU "seriously". The Copenhagen summit said Ankara needed to work on human rights and democratic ref orms and relations with its neighbours before it could be considered for accession. The decision has strained relations between Ankara and the 15-member EU.

"We want to exercise the policy which the EU has been applying towards Turkey for years. We are not of the opinion that the EU is a religious community, namely, a community based on religion, but we are of the opinion that the EU is a community of values, a community starting from the common conception of these values.

"Human rights is an issue which plays, according to our views, a leading role. Europeans decided in Copenhagen what is included in these values, such as torture not to take place and human rights to be safeguarded in their wider sense. When these precon ditions are fulfilled, then the door to Europe must also be open for Turkey. Therefore, it is up to Turkey whether it will fulfill these preconditions or not," Mr. Schroeder said.

The German chancellor said that in light of the European Union summit this Friday, Germany would not seek an upgrading of Turkey's status to equal candidate member.

"There is no such issue," Mr. Schroeder said.

"On the question of the Vienna summit, allow me to say that both of us (Mr. Schroeder and Mr. Simitis) agree that no decisions concerning enlargements will be taken there, or with regard to the circle of candidate countries. In this sense, the principles which we consider correct are harmonised with the principles applied by the EU in general," he added.

On Athens' standing claim for a repayment of a wartime loan forcibly extracted from the Greek central bank, Athens received no joy: Mr.Schroeder told the Greek prime minister that the new government would continue the policy on this issue forged by its predecessors and that it was not about to "open a chapter" on paying compensation to victims of the Nazi occupiers in Greece or the repayment of the loan.

"We see no possibility of reopening this issue. Given the contractual relations (the relations between the two countries which are determined by treaties and agreements), as well as friendly relations which have developed between our countries, we consi der this issue closed. We discussed this and I took into consideration that my Greek colleague raised this issue," Mr. Schroeder said.

The German chancellor said he had accepted an invitation from Mr. Simitis to visit Greece extended to then-chancellor Helmut Kohl during Simitis's visit to Bonn in 1997.

He said he expected to visit Greece on the completion of the German EU presidency in June 1999.

His visit will be the first visit to Greece by a German chancellor since Helmut Schmidt 23 years ago when Constantine Karamanlis was premier of Greece.

PM calls meeting with Lafontaine 'useful, constructive' : BONN (ANA - P. Stangos) - PM Costas Simitis held talks and attended a working luncheon with German Social Democrat Party (SPD) president and new Finance Minister Oskar Lafontaine after holding talks with German Chancellor Gerhard Schroeder yesterday.

Mr. Simitis termed the meeting "useful, pleasant and constructive."

It focused primarily on strengthening relations between the PASOK and SPD parties, which will be promoted in principle with a visit to Athens by an SPD delegation, probably including Mr. Lafontaine, whom Mr. Simitis officially invited.

Talks also included Euro-elections in June and the policy of European socialist and social democrat parties. The SPD will ratify a relevant manifesto at a special conference today, issues concerning the "Agenda 2000" and the policy to be applied by the European Union's German presidency.

Mr. Lafontaine, in his capacity as finance minister in the Schroeder government, has a special say in shaping priorities in German policy.

Athens News Agency

[02] Central bank to cut intervention rates this week, minister says

Athens 08/12/1998 (ANA)

The government endorsed the Bank of Greece's conservative policy of a gradual drop in rates to keep pace with the rate of decline of underlying inflation, Mr. Papantoniou said.

Rates would continue to fall, but the decline would be more abrupt in the second half of 1999.

The rate cut later this week was the result of consultations between the central bank and the government, said Mr. Papantoniou, addressing the opening of a conference on the economy held by the Hellenic-American Chamber.

The Bank of Greece's weekly intervention generally takes place on a Wednesday.

He expressed optimism that the economy would meet targets for entry into European economic and monetary union (EMU), saying that the goal was realistic of lowering inflation to 4.0 percent by the end of the year, and then to 2.0 percent by the end of 1999.

In addition, the government's attainment of its targets had boosted the economy's credibility abroad.

International investment houses were taking the country's EMU entry for granted and recommending to their clients to purchase domestic state securities.

"It is already time to start thinking about the post-EMU entry period," Mr. Papantoniou said.

The state's net revenue from privatisation in 1998 was 700 billion drachmas, or two percentage points of GDP.

The first cycle of structural change in the economy had been successfully completed as 13 of 22 moves promised by the government after the drachma's devaluation in mid-March had been effected, Mr. Papantoniou said.

The government's reforms aimed to improve infrastructure, create a more flexible labour market, modernise the capital market and reform the public sector.

Mr. Papantoniou also said that the government's privatisation programme was proceeding as planned, except for Ionian Bank and Hellenic Duty Free Shops, both of which would be sold early in 1999.

Conceding that the new German government had toughened its position on EU cohesion fund monies to Greece in the European Union's Agenda 2000 negotiations, he pointed out that the fellow EU member had much to gain from award of the financing.

The minister cited as an example a new international airport for Athens being built by Hochtief of Germany, saying that much of EU funding for the airport was being channeled back to Germany.

Greece and other southern EU member states would wage a tough battle to avert a reduction of monies in the EU's Third Community Support Framework (CSF) being drafted from the Second CSF.

"Our policy is steady, we are cool-headed, and we shall use all available weapons if necessary," Mr. Papantoniou said, adding that Greece would not hesitate to use its right of veto to block EU enlargement.

The matter was critical for Greece as its economy would not be able to achieve true convergence after EMU entry without those funds, he said.

For Third CSF funds, private capital would be sought for most major projects. Eighty percent of Second CSF projects would be completed by end- 1999.

Finally, Mr. Papantoniou assured that the resignation of the managing director of listed Hellenic Telecommunications Organisation did not signal any change in policy, and his successor would retain the same policy of international expansion and modernisation.

He also said that a strategic investor in ailing national carrier Olympic Airways would be found by March 1999.

Athens News Agency

[03] Stocks jump as market players discount lower interest rates

Athens 08/12/1998 (ANA)

The general index ended 4.12 percent higher at 2,570.73 points, sprinting through resistance at 2,500 points.

Trade was heavy with turnover at 83.9 billion drachmas and 14,782,000 shares changing hands.

Demand was strong for banking stocks, which gained 6.44 percent.

The day's close was the highest since August 26, and the market has gained 73.7 percent since the beginning of the year.

The FTSE/ASE-20 blue chip index gained 4.93 percent to finish at 1,606.73 points.

The parallel market for smaller cap stocks closed 2.03 percent higher.

Sector indices recorded gains across the board.

Leasing rose 1.03 percent, Insurance gained 2.86 percent, Investment jumped 4.27 percent, Construction increased 2.53 percent, Industrials rose 1.68 percent, Miscellaneous jumped 3.72 percent, and Holding surged 4.03 percent.

Of 263 shares traded advances led declines at 212 to 33 with 18 unchanged.

The most heavily traded stocks were Panafon, Hellenic Telecommunications Organisation, Thessaliki and Eskimo.

Panafon, the mobile phone operator, made its trading debut at 5,100 drachmas a share to close up 26 percent at 6,425 drachmas.

Scoring the highest percentage gains were Panafon, Hellas Can, Metka, Bank of Piraeus, Loulis Flour Mills, Rokas, Daring, Paleo Faliro Medical and Lesvos Shipping Line.

Posting the biggest percentage losses were Dimitriadis, Ippotur, Vioter, Sarandis, Britannia, Corinth Spinning Mills, Benroubi, Mohlos, Doudos and Ergas.

National Bank of Greece ended at 53,320 drachmas, Ergobank at 29,210, Alpha Credit Bank at 28,975, Ionian Bank at 14,485, Hellenic Telecommunications Organisation at 6,850, Delta Dairy at 3,600, Intracom at 13,800, Titan Cement at 20,500, Hellenic Petro leum at 2,320 and Minoan Lines at 6,705 drachmas.

Athens News Agency

[04] Panafon to join bourse's FTSE/ASE-20 index

Athens 08/12/1998 (ANA)

The share, which gained 26 percent in heavy trade, will join with a 15 percent free float on January 7, ASE said in a statement.

The decision was based on the fact that Panafon's equity has a wide share distribution and its market capitalisation represents more than 1.5 percent of the index's capitalisation, the statement said.

The stock to leave the index in order to make way for Panafon will be announced on January 5, it said. The loser will be the share with the lowest market value on the index.

Athens News Agency

[05] National Bank of Greece chief sees EMU entry close at hand

Athens 08/12/1998 (ANA)

"We are a stone's throw away from meeting EMU entry criteria," Mr. Karatzas told a conference on the economy held by the Hellenic-American Chamber.

Mr. Karatzas also pointed out that the stock market had made a healthy contribution to the economy.

The Athens Stock Exchange's capitalisation at the end of October stood at more than 58 billion dollars despite a global financial crisis that battered markets, up from 34.7 billion dollars at the end of 1997.

The Athens bourse had also posted a higher rate of growth than other markets in Europe and worldwide, Mr. Karatzas said.

He said both increases in quality and quantity were needed for the capital market, which would aid the economy to mature further.

Athens News Agency

[06] NAPC lay-offs entire workforce

Athens 08/12/1998 (ANA)

The notices were sent despite Labour Minister Miltiadis Papaioannou's pledge two days earlier that the government was willing to contribute 700 million drachmas to help fund voluntary retirement for around 70 workers.

Citing financial woes and low production, NAPC said it would close its installations, located off the northern Aegean island of Thassos and southeast of the town of Kavala, if workers persisted in rejecting the plan to lower operating costs by 30 per cent.

Athens News Agency

[07] Athens Foreign Exchange

Athens 08/12/1998 (ANA)

Parities in Drachmas

Banknotes            Buying  Selling
US Dollar            279.714 286.200
Can.Dollar           182.230 186.455
Australian Dlr       172.320 176.316
Pound Sterling       463.165 473.903
Irish Punt           413.862 423.458
Pound Cyprus         561.869 574.896
Pound Malta          693.589 722.489
Turkish pound (100)    0.081   0.084
French franc          49.673  50.825
Swiss franc          203.439 208.156
Belgian franc          8.076   8.264
German Mark          166.567 170.429
Finnish Mark          54.808  56.079
Dutch Guilder        147.828 151.255
Danish Kr.            43.819  44.835
Swedish Kr.           34.266  35.060
Norwegian Kr.         37.484  38.353
Austrian Sh.          23.684  24.233
Italian lira (100)    16.832  17.223
Yen (100)            232.951 238.352
Spanish Peseta         1.959   2.005
Port. Escudo           1.625   1.663

Banknotes            Buying  Selling
New York             279.714 286.200
Montreal             182.230 186.455
Sydney               172.320 176.316
London               463.165 473.903
Dublin               413.862 423.458
Nicosia              561.869 574.896
Paris                 49.673  50.825
Zurich               203.439 208.156
Brussels               8.076   8.264
Frankfurt            166.567 170.429
Helsinki              54.808  56.079
Amsterdam            147.828 151.255
Copenhagen            43.819  44.835
Stockholm             34.266  35.060
Oslo                  37.484  38.353
Vienna                23.684  24.233
Milan                 16.832  17.223
Tokyo                232.951 238.352
Madrid                 1.959   2.005
Lisbon                 1.625   1.663
Athens News Agency
[08] Simitis: EMU not the EU's final goal
BONN  08/12/1998 (ANA - P. Stangos)
Prime Minister Costas Simitis stressed here yesterday that European
Monetary Union (EMU) is an important step for Europe, but not the final
goal.
During a press conference, the Greek premier added that "what is now
wanted" for the European Union is "what will exist after EMU; what will be
the next major plan, the next major goal of Europe..."
The premier noted that an important goal is a joint foreign and security
policy as well as the strengthening of Europe's "defence iden-tity."
Speaking on EU-Turkish relations, the Greek premier said problems exist,
although Greece wants cooperation between Turkey and the EU and also wants
to cooperate on the issue of Ankara's European vocation.
He added that the reasons causing such problems should be eliminated,
something that necessitates implementation of international law and
international treaties, and as long as Turkey recognises that any
differences which may arise will be referred to the International Court at
The Hague.
Regarding Cyprus, Mr. Simitis said: "we believe the...resolution of the
problem of occupation of a part of the island by Turkish forces is not
related to the accession process."
Finally, Mr. Simitis said that he is openly suportive of an EU initiative
for the peacefull resolution of the Kurdish issue.
Athens News Agency
[09] Karamanlis promises reduction in bureaucracy if ND elected
Athens  08/12/1998 (ANA)
Main opposition New Democracy (ND) leader Costas Karamanlis yesterday
addressed the "Hour of the Greek Economy" conference at the Hellenic-
American Chamber.
Mr. Karamanlis criticised the government and promised that ND is considering
studies and plans to reduce the approval needed for the operation of a
business, thereby curtailing bureaucracy. He also criticised the government
for a lack of action on promo ting projects for the 2004 Olympic Games,
while he mentioned that unemployment is the major indicator of the economy,
noting that it is now more than 14 per cent.
Athens News Agency
[10] EU foreign ministers' council agree on text for Vienna summit
BRUSSELS  08/12/1998 (ANA - M. Spinthourakis)
The council of European Union foreign ministers reached an agreement here
late last night on conclusions that the "15" will forward to the EU Vienna
summit, scheduled for this weekend. Alternate Foreign Minister George
Papandreou, who represented Athens, said that the final draft is satisfactory
for Greece, as it differentiated between Turkey and other EU candidate-
countries of central and eastern Europe and Cyprus. The last amendment
agreed upon in the text was that a separate paragraph was used for the
11 candidate-countries and another for Cyprus.
The final communique mentions that the FMs' council underlines that Ankara
should make special efforts to establish a democratic society in accordance
with the Copenhagen summit criteria and other EU council conclusions.
Athens News Agency
[11] Gov't says new radars up by summer as IATA condemns delays
Athens  08/12/1998 (ANA)
Civil aviation personnel are being trained in the use of new radar systems,
while the government hopes the training will be completed as soon as
possible, acting government spokesman Nikos Athanas sakis said on Monday.
He was responding to press reports yesterday regarding a letter sent by the
International Air Transport Association (IATA) to European Transport
Commissioner Neil Kinnock.
According to press reports, the IATA letter states that "during the summer
season Greece, with only 7 per cent of the total ECAC traffic, produced 30
per cent of the total ATC dealys...about 60 per cent of the Greek ATC delay
is caused by lack of en-rou te capacity in the Athens Air Traffic control
centre and about 40 per cent from congestion at the airports.
"Despite having a new operations room available and despite having a new
radar system operational since spring 1997, the HCAA has not been able to
reach an agreement with the controllers to use it," the letter added.
"We have acquired the radars and training procedures for personnel to
change over to the new system are under way," Mr. Athanassakis said, adding
he hoped the procedure would be completed by the summer season.
Athens News Agency
[12] Ankara irritated over Italian, German proposal on Kurdish issue
conference
ISTANBUL  08/12/1998 (ANA - A. Kourkoulas)
The Turkish foreign ministry issued an announcement yesterday stating that
an Italian and French proposal to hold an international conference on the
Kurdish issue or an international trial for PKK leader Abdullah Ocalan was
an "even worse development than the initial Italian refusal to extridite
him."
Ankara also criticised Austrian Eurodeputy Hans Swoboda's report to the
Europarliament on the issue as "unacceptable interventions in (Turkey's)
internal affairs, social order and foreign policy." Ankara said that hopes
expressed in the past for a pos itive development of the EU-Turkish
relations were dashed, especially by this latest report.
On their part, several Turkish dailies noted that Ankara has turned its
attention to French Foreign Minister Hubert Vedrine and his British
counterpart Robin Cook to avert developments set in motion by Italy and
Germany.
Turkish President Suleyman Demirel said over the weekend that Turkey will
stop being interested in Europe if Europe continues adopting such a
stance...on the Ocalan and Kurdish issue.
Athens News Agency
[13] Prosecutor orders probe into OTE dealings
Athens  08/12/1998 (ANA)
An ex officio preliminary investigation has been ordered by Athens
prosecutor Georgios Koliokostas into the validity of press reports
regarding the purchase by the Hellenic Telecommunications Organisation
(OTE) of major shares in Balkan telecoms providers .
According to recently published reports, offences were allegedly committed
by OTE officials (including recently resigned OTE manging director Georgios
Chrysolouris), while other press allegations claim that the acquisition of
a stake in the Balkan telecoms market is designed to allow the Greece-based
Intracom firm access to digital telephony contracts in the Balkans.
Mr. Koliokostas has assigned prosecutor Panayiotis Angelopoulos the
responsibility of carrying out the probe, during which several OTE
executives will be summoned to testify.
Athens News Agency
[14] Reppas reiterates Nicosia,Athens decisions over S-300s
NICOSIA  08/12/1998 (ANA - G. Leonidas)
Visiting Press and Media Minister Dimitris Reppas said here yesterday that
Greek and Cypriot decisions over the Russian-made S-300 anti-aircraft
missile system are still valid.
However, Mr. Reppas stressed that installation of the missiles was not the
heart of the Cyprus problem, saying it should be seen in the light of the
entire range of issues involved.
Speaking after a meeting with Cypriot President Glafcos Clerides, Mr.
Reppas said Athens stood by Nicosia, adding that both sides should struggle
on matters of principle, international law and human rights.
Referring to the expected initiative by Washington on the Cyprus problem,
Mr. Reppas noted that there had been a number of initiatives in the past.
He said initiatives were judged on their results.
However, he added that there were specific reasons for some optimism as a
result of the latest mobility over the issue by the US part.
Mr. Reppas later met with President of the Cypriot House of Representatives
Spyros Kyprianou.
Speaking afterwards, he expressed a wish for the Cypriot leadership to
continue working in the direction of justice, reason and ethics for a
solution of the long-standing problem.
Mr. Reppas, in his one-day visit here, was heading a delegation of the
Coordinating Committee for the Promotion of National Issues, which convened
yesterday at Cypriot government spokesman Christos Srylianides' office, to
examine issues relating to Greece-Cyprus cooperation.
Athens News Agency
[15] Russia's Zyuganov in Athens
Athens  08/12/1998 (ANA)
The president of the Russian Communist Party's central committee, Gennady
Zyuganov, will visit Athens tomorrow and Thursday at the invitation of the
Communist Party of Greece (KKE).
Mr. Zyuganov will meet with leading KKE officials, and other political
figures during his visit. He will hold a news conference on Thursday.
Athens News Agency
[16] Arsenis to continue tour of schools in spite of protests
Athens  08/12/1998 (ANA)
Education Minister Gerasimos Arsenis stressed yesterday that he will
continue his tours of schools to brief pupils, teachers and parents on
educational reform.
He spoke to several principals of the wider Athens area and made clarifications
on basic points contained in the educational reform unveiled recently by
his ministry, a prospect that has led to widespread students' demonstrations
over the past week.
Speaking to reporters, Mr. Arsenis said pupils must return to lessons and
express their disagreement and liveliness in a different way, adding that
he has not stopped meetings with pupils and will soon meet teachers and
trade union organisations that ha ve requested a meeting with him, such as
the Teachers Federation of Greece.
Meanwhile, main opposition New Democracy leader Costas Karamanlis visited
the offices of the college professors' federation yesterday morning and
discussed with them problems being faced by schools. Later, he paid a
similar visit to the offices of the teachers federation and discussed
problems in elementary schools.
Speaking afterwards, Mr. Karamanlis said that changes in educational policy
cannot take place and cannot succeed unless they have at least the consent
and tolerance of teachers.
"What one can ultimately note is that one more so-called reform by the
present government has ended in a fiasco and in a turmoil with the
permanent victims being the pupils and their families, who are being
burdened excessively financially, and the teac hers themselves," Mr.
Karamanlis said.
Athens News Agency
[17] Thessaly-area farmers gear for mobilisations
Athens  08/12/1998 (ANA)
The government's policy on the issue of agriculture is one of working out
problems through dialogue, acting government spokesman Nikos Athanassakis
said yesterday, ahe-ad of a planned protest by farmers today. Thousands of
farmers, mainly from central and northern Greece are expected to attend
today's rally in Larissa to protest the government's agricultural policy
and to press demands.
Mr. Athanassakis told reporters that Agriculture Minister George Anomeritis
had not rejected any meeting with the farmers, saying reports to the
contrary were "a misunderstanding".
"Mr. Anomeritis has begun wide-ranging talks with all agencies in the
agricultural community, both established and otherwise. The door is open,"
he said.
The spokesman admitted there were issues in the sector that needed
resolution and that the government was applying policy on a case-by-case
basis, in line with the provisions applicable for the European Union and
domestically.
"They don't need to take the most dissatisfying course (blocking national
roads). We hope that these protests will not be disruptive to others," he
said.
Large-scale protests by farmers last year - against new tax laws, in
support of demands for cheaper fuel and higher prices for their products -
caused unprecedented chaos in Greece, hampering road and rail transport
between the north and south, preventing lorries from delivering vital
supplies and on occasions forcing factories to shut down due to shortages
of fuel and raw materials.
Hundreds of farmers and more than 70 tractors rallied in the central town
of Farsala, near Larissa, in early November, to warn the government they
were prepared to block roads again this year if their demands were not
met.
The rally was organised by the Federation of Farming Associations, with the
support of the Thessaly Coordinating Committee, the force behind extensive
farmers' protests last year.
Farmers are now demanding a higher production ceiling for cotton crops and
government intervention in Brussels to prevent what they claim will be a 30
per cent reduction in cereal crop prices this year if the European Union
does not alter its regulations.
Athens News Agency
[18] Papaioannou: Gov't encourages 35-work week through collective
bargaining
Athens  08/12/1998 (ANA)
Addressing trade unionists affiliated with ruling PASOK yesterday, Labour
and Social Security Minister Miltiades Papaioannou confirmed the government's
decision to encourage application of the 35-hour work week through
collective bargaining, particularly in high-tech enterprises.
Mr. Papaioannou, who was speaking at the start of the PASKE union's two-day
nationwide conference, said that the initiation of the 35-hour working week
throughout Europe will create a strong wave of new jobs.
On his part, PASOK Secretary Costas Skandalidis said that there is no
progressive social organisation capable of ignoring the reality of a world
without borders.
General Confederation of Workers of Greece (GSEE) president and PASKE
Secretary Christos Polyzogopoulos said in his main address that an
"unfriendly environment" is being created for the world of labour and
reiterated the targets that PASKE will promote in the trade union movement:
a 35-hour work week, funds for employment, support for the unemployed, an
increase in the period of unemployment benefits and an increase in
unemployment benefits, saying that the present level of 3,300 drachmas was
a disgrace.
Athens News Agency

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