Athens News Agency: Daily News Bulletin in English, 98-12-11

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

CONTENTS

[01] Croucial summit gets underway today

[02] Tsohatzopoulos opens conference on weapons research, technology

[03] Stored drugs at police warehouses to be incinerated

[04] Amnesty International protests executions in US

[05] Russia's Zyuganov: S-300s pose no threat to any third country

[06] Synaspismos-sponsored political forum

[07] Turkey still displeased with EU stance

[08] Arsenis: Adjustments on education reform

[09] DEPA official: Greece not obligated to receive 1.5 million cubic metres of gas in '98

[10] DEH to study underground lines for Kryoneri: Papandreou

[11] Teen killed in fall off soccer stands

[12] Papoutsis in Crete

[13] Verbal Testimonies of Thessaloniki Jews

[14] PMs of Greece, FYROM to address Balkan economy conference in '99

[15] ANEK to seek Athens bourse entry by Xmas

[16] Folli Follie opens subsidiaries in Paris, London, Hong Kong

[17] Finance ministry to auction 10-yr bonds Tuesday

[18] National Bank of Greece to pursue family-oriented policy

[19] Foreign currency shipping inflows rise 2.3 pct Jan-June

[20] Stocks end flat, seen consolidating above 2,500 pts

[21] Central bank intervenes to curb unbridled drachma

[22] Contract for customs service's computerisation with Bull, Intrasoft

[23] Commercial Bank, Xiosbank slash interest rates

[24] General Bank points to successive share capital increases

[25] Importance of lignite to Greek economy stressed

[26] Municipal dues billed direct instead of on power bill examined

[27] ETANE-Euclidis merger

[28] Off-shore oil field workers protest terminations

[29] Hellenic Bank branch opens in Athens

[30] Gov't: Nothing new in press article presenting Commission report

[31] Computer cross-checking uncovers some 5,700 fraudulent pensions

[32] Commission to take recourse against Athens over dangerous substance directive

[33] Athens Foreign Exchange

[01] Croucial summit gets underway today

VIENNA 11/12/1998 (ANA - M. Spinthourakis/D. Dimitrakoudis)

The summit, where Greece will be represented by Prime Minister Costas Simitis, Foreign Minister Theodoros Pangalos and National Economy Minister Yiannos Papantoniou, is expected to give rise to the juxtaposition of views, on one hand, that fiscal discipline is the Community's "No. 1" target in view of the euro, and on the other, that development and the increase in employment, through a boost in public investments, allows a "flexible" interpretation of the "iron" Stability Pact.

Southern European leaders are thought likely to press for the introduction of more progressive views on the issue of Community budget resources, meaning that the calculation of each country's contributions should be made on the basis of its relative prosperity and its per capita income. Also, the poorer southern countries are expected to stick to the position that all Community expenses must reach 1.27 per cent of GDP as the only official one submitted, and that all others have been informally submitted.

At a second level, they are seeking to secure that the funding of structural policies and the Cohesion Fund for the least developed countries once they join the euro does not suffer cuts.

Regarding Cyprus, which is part of the enlargement process, Greek diplomatic sources were not expecting any particular development, but rather a smooth continuation of accession negotiations which began two months ago.

Cypriot President Glafcos Clerides, who attended the European People's Party summit yesterday, along with main opposition leader Costas Karamanlis, said EU enlargement was "perhaps the most creative of challenges for the Union itself". He also stressed that it "emerges as a political necessity and becomes not a policy chosen, but a must."

Mr. Karamanlis said that for the real European unification to be achieved the magnitudes of the community budget should increase or at least remain on the same levels.

Mr. Karamanlis noted that "if we desire the real European unification, the magnitudes of the community budget should either be increased or at least remain on the same levels, because this concerns the unification of Europe and mostly Greece...because Greece should pursue not the nominal but the real convergence".

Mr. Karamanlis, referring to unemployment, said that "the European governments should take a serious look at the problem and develop joint effective action, because unemployment is posing a serious threat to social cohesion" adding that "this issue is of particular concern to Greece, if we take into consideration that, according to the European employment watch, unemployment in our country exceeds 13 per cent."

Concerning Turkey and its relations with the EU, several member-states are expected to press for an equation of Ankara's status (at least verbally) in the framework of enlargement with the status of the countries of central and eastern Europe and Cyprus .

Greek dimplomacy is certain to react to such possible proposals, and counter-propose as a basis for all references to Turkey, the conclusions of the Cardiff and Luxembourg summit and those of Monday's General Affairs Council, where Turkey's status is clearly separated from that of candidate countries.

Athens News Agency

[02] Tsohatzopoulos opens conference on weapons research, technology

Athens 11/12/1998 (ANA)

He stressed to delegates at the two-day event the need for a common European defence industry, noting that European defence could not be founded only on private defence industries but needed the participation of the countries, too.

Referring to the coproduction of the Eurofire jetfighter by four countries, he said it was by no coincidence that the Eurofighter was becoming a "European prospect" as more countries would join the original four, intimating Greece's interest.

Athens News Agency

[03] Stored drugs at police warehouses to be incinerated

Athens 11/12/1998 (ANA)

Public Order Minister Philippos Petsalnikos, replying to a relevant question tabled in Parliament by main opposition New Democracy (ND) deputy George Sourlas regarding the storing by police of more than 2,000 boxes and 10,000 samples of illegal drugs, stated that "after coordination with the justice minister, we are going to proceed with the incineration of those quantities...".

Athens News Agency

[04] Amnesty International protests executions in US

Athens 11/12/1998 (ANA)

During the protest, which coincides with the 50th anniversary of UN Human Rights Day, the president of AI's Greek section, Kostis Papaioannou, handed a letter of protest to an embassy employee which was addressed to US ambassador Nicholas Burns.

The protesters, dressed in black, hung an effigy of the Statue of Liberty to underline their charge that human rights are being "executed" in the United States.

Similar protests were meanwhile being held in other countries around the world to press for the abolition of the death penalty in the US.

According to AI, which in October launched a one-year campaign for penal reform in the United States, nearly 500 people have been executed in the US since the death penalty began to be re-enforced in 1977.

A US federal judge on Wednesday ordered a stay of execution for Canadian national Stan Faulder, who was scheduled to die by lethal injection yesterday, citing concerns about whether he received a fair trial.

Athens News Agency

[05] Russia's Zyuganov: S-300s pose no threat to any third country

Athens 11/12/1998 (ANA)

Mr. Zyuganov was speaking at a news conference during a two-day visit to Greece, which began yesterday at the invitation of the Communist Party of Greece (KKE).

Nicosia's plans to purchase and install the S-300 missiles on the island republic in an effort to bolster its defenses has drawn criticism from Washington and European countries, which claim the deployment will merely serve to increase tension.

Turkey has openly threatened to prevent the deployment.

Noting the "very good" relations between Cyprus and Russia, Mr. Zyuganov underlined Nicosia's right to choose the weapons systems which ensure its defence.

He expressed the hope that "our countries will withstand the pressure exerted by the US" in order for the contract to be executed.

Commenting on Russia's policy vis-a-vis arms sales, Mr. Zyuganov said his country had lost all the major markets which it had gained in the Soviet era.

In a clear reference to the US, Mr. Zyuganov said that if only one major arms seller is allowed to dominate the world market, the prices of weapons will be too high for many countries.

Regarding Turkey's role in the northern Caucasus and the Middle East, Mr. Zyuganov expressed displeasure, saying that Ankara was trying to increase its influence in the two regions without taking into consideration Russia's interests.

"This policy does not help towards the development of mutual trust. We have our own zone of geopolitical responsibility and Russia had always played a role, even before the creation of the USSR, in the region of Eurasia," Mr. Zyuganov said, indicating that he strongly opposed Turkey's policy of trying to penetrate the region.

Situation in Russia : He also expressed disappointment with the present situation in his country and concern about its future.

If the government of Prime Minister Yevgeny Primakov fails to deal with the country's problems, he said, the next government in Moscow will be made up of military chiefs whose objective will be to safeguard the country's borders and ensure the "survival of the population".

Asked by reporters if he was referring to the possibility of a military coup, Mr. Zyuganov indirectly accepted that this was what he meant, but immediately afterwards he expressed certainty that no form of dictatorship had any prospects in Russia.

"With all the serious and complex problems it is facing and with the nuclear weapons which it has, Russia cannot be governed in such a manner," he said.

Mr. Zyuganov stressed that Russia could not be governed by President Boris Yeltsin. Apart from all the problems which have accumulated, he added, Yeltsin has for the last three years been unable to work in his office for one whole week.

According to Mr. Zyuganov, the present situation in Russia is the worst in its long history.

The Communist leader said his party supported Primakov, whose abilities he praised.

Asked whether communist parties had a role to play following the disintegration of the Soviet Union and collapse of communism as a system in the countries of eastern Europe, Mr. Zyuganov said the concepts of communism were "immortal".

He distanced himself however from the principles which prevailed in communist parties during the Cold War period.

Expressing support for parliamentary democracy and multi-party systems, Mr. Zyuganov said the Russian Communist Party was now a "clever and modern" party which drew also on the achievements of the Soviet Union, China, Europe and Japan.

Commenting on the large number of candidates who have expressed a desire to run for president, Mr. Zyuganov stressed that anyone who does not cooperate with the forces of the left in Russia will certainly not be elected, regardless of when elections are held.

Meeting with Kaklamanis : Earlier, the Russian Communist leader met with Parliament President Apostolos Kaklamanis, as both men stressed the need to boost cooperation between EU member-states and Russia.

Mr. Zyuganov talked about the prevailing political and social stituation in Russia and called this period "tragic" for his country, pointing out to major shortages in food and medicines.

He also referred to international developments, expressing his view that the European Union cannot be competitive without Russia's participation, while he conveyed a position he said was shared by all Russian political parties,namely,for strengthening Greek-Russian cooperation in all fields.

Mr. Kaklamanis expressed concern over "why Europe has not analysed the situation prevailing in Russia today and why the US continues to confront that country with the attitude and means used during the Cold War era," citing as an example Washington's stance regarding the purchase and deployment of the S-300 missiles.

Athens News Agency

[06] Synaspismos-sponsored political forum

Athens 11/12/1998 (ANA)

About 25 European Left-wing parties are represented at the Forum, including the French Communist Party, the German Democratic Socialism Party and the Italian Communist Renewal Party.

Outlining the main points of action for the European Left, Mr. Constantopoulos said that guarantees of social protection and social solidarity must be enlarged, democratic institutions of participation, representation and control must be enlarged and so should protection of individual, social and ecological rights, quality of life and the work environment.

Athens News Agency

[07] Turkey still displeased with EU stance

ISTANBUL 11/12/1998 (ANA - A. Kourkoulas)

A Turkish foreign ministry spokesman said: "we expect of the Union a legally binding decision, which will recognise the candidacy of Turkey and as a natural outcome it will confront it on equal terms with the rest of the candidate-countries."

He added that no other solution will satisfy Turkey and underlined that the Union has not taken a stance on the issue to date.

The spokesman said that "we hope that before the Vienna summit the conclusions regarding Turkey will change, otherwise, we will not change our positions which we layed down after the Luxembourg summit."

Athens News Agency

[08] Arsenis: Adjustments on education reform

Athens 11/12/1998 (ANA)

Mr. Arsenis that "there is widespread misinformation leaked to students, who because of that misinformation, are scared."

The decomposed corpse of an elderly pensioner believed to have died 11 months ago was found in upscale Kolonaki district of downtown Athens in an apartment just a few blocks away from the Greek prime minister's residence.

Costas Antonakis, a retired bank employee, was described as a "loner" and was not remembered by neighbours to have any social contacts, while he was also not on speaking terms with his brother.

No one paid attention to the rarely seen pensioner's disappearance, and it was only when a leak developed in the ceiling of the apartment below did other residents in the apartment building alert the man's brother after the pensioner did not answer the doorbell.

Electricity, water and heating had been shut off for months, while police believe the man died during last January's cold spell as the corpse was covered with a coat over pyjamas.

Athens News Agency

[09] DEPA official: Greece not obligated to receive 1.5 million cubic metres of gas in '98

Athens 11/12/1998 (ANA)

He said that despite the cleaning of the gas pipeline in Bulgaria, the problem with the quality of the natural gas delivered remained.

A protocol on the issue is to be signed with a reprsentative of the Bulgarian company today.

Athens News Agency

[10] DEH to study underground lines for Kryoneri: Papandreou

Athens 11/12/1998 (ANA)

Kryoneri residents, in northeast Attica, have been vehemently protested DEH's plans to install five ultra-high voltage pylons in their community, claiming that the electromagnetic field emanating from the pylons was a health hazard and entailed an incre ased risk of cancer.

Police used teargas earlier this month to disperse protesting Kryoneri residents blocking the installation of the last five pylons of DEH's third main north-south power conveyance line for transfer of electricity from northern Greece to the Greek capital to alleviate shortages in periods of increased power needs.

Kryoneri's residents have been blocking the installation of the pylons for the past two years, and had appealed to the Council of State, the country's highest administrative authority, to stop the pylons being installed in their town.

Their appeal was rejected.

Ms Papandreou said the study on running the first 150 mega-volt line underground would cost two billion drachmas, adding that there was no known technology in the world for running underground the third line of 400MV, to be built at Kryoneri.

She assured once again that the third line posed no hazards to the residents' health as the standards set by the World Health Organisation (WHO) and the European Energy Organisation were being complied with.

The only problem, she said, was the "visual pollution" created by the pylons, adding, however, that "we cannot put the four million Attica basin residents at risk of a power blackout" because of an aesthetic problem.

Athens News Agency

[11] Teen killed in fall off soccer stands

Athens 11/12/1998 (ANA)

Costas Tsarkas, 16, was killed when he fell off stand 4 under unspecified circumstances at around 11.20 p.m.

Athens News Agency

[12] Papoutsis in Crete

Athens 11/12/1998 (ANA)

Mr. Papoutsis said the advent of the euro in 20 days will change the European market and set the basis for more competitive business strategies.

Finally, he said the euro will create new business opportunities throughout the Union.

Athens News Agency

[13] Verbal Testimonies of Thessaloniki Jews

Athens 11/12/1998 (ANA)

Some survivors detailed in the book their horrific experiences at the Auschwitz camp, where they became guinea pigs at the hands of Nazi doctors.

According to the book, compiled by Naar and Erica Kunio-Amarillo, the vast majority of female prisoners were sterilised through a series of experiments.

Nazi forces exterminated almost 50,000 of the 56,000 Greek Jews of the city, who initially came to Greece in the late 15th century, invited by the Ottoman sultan to escape the Spanish Catholic inquisition.

Athens News Agency

[14] PMs of Greece, FYROM to address Balkan economy conference in '99

Athens 11/12/1998 (ANA)

Association of Northern Greek Industries (SBBE) president Vassilis Takas told a news conference yesterday that the association's annual conference would focus on conditions in the Balkans a decade after the opening of markets.

Mr. Georgievski is to speak on May 10, the first day of the conference, and Mr. Simitis on May 11.

Trade between Greece and FYROM is expected to exceed US$250 million in 1998.

Greece is the largest foreign investor in the neighbouring country at 50 million dollars.

Stormy ties between Athens and Skopje have improved in recent years.

Greece opposes the use of the name "Macedonia" by the landlocked republic, arguing it conceals expansionist designs against its northern province of Macedonia.

Under an interim agreement in September 1995, Greece and FYROM agreed to hold talks under UN auspices on finding a mutually acceptable solution to the name issue.

Athens News Agency

[15] ANEK to seek Athens bourse entry by Xmas

Athens 11/12/1998 (ANA)

Crete-based ANEK is to issue 6,384,000 new shares with 6,184,000 of the total on sale to the public and the rest destined for a private placement.

The IPO is likely to be held around December 20, the statement said.

Eighty three percent of funds raised will be used to finance investment plans and 17 percent to boost operating capital.

Of the investment allocation, 77 percent is for part-payment of construction of a hi-tech fast ferry, 3.0 percent for adaptation of the company's fleet to new Eurosolas regulations, and 3.0 percent to fund holdings in other shippers.

Acting as the IPO's adviser is Piraeus Finance with Bank of Piraeus as coordinator. The main underwriters are Bank of Piraeus, National Bank of Greece and Commercial Bank of Greece.

ANEK, which has 10,000 stockholders, was set up as a broad-based share company.

Athens News Agency

[16] Folli Follie opens subsidiaries in Paris, London, Hong Kong

Athens 11/12/1998 (ANA)

The company's stock, which is listed on the Athens bourse, finished at 4, 741 drachmas, hitting the daily upper 8.0 percent volatility limit.

Folli Follie France has a share capital of 450 million drachmas with shares wholly owned by the parent company.

It bought the assets of Folli Follie's former French distributor, now owning four stores in central Paris and two retail outlets in the Gallerie Lafayette and Printemps department stores.

Appointed to run the French subsidiary is Christianne Charlez-Foujannet, a fashion executive.

The parent company also announced the creation of a wholly owned subsidiary in Hong Kong.

The firm's three shops will be run by Blue Bell, a multinational firm that handles brand names in southeast Asia and the Pacific.

Finally, Folli Follie set up a wholly owned subsidiary in London that recently opened a store in Sloane Street.

The parent company plans further expansion abroad, retaining the same control on retail sales in order to enjoy a high gross profit margin and ensure direct contact with customers.

Athens News Agency

[17] Finance ministry to auction 10-yr bonds Tuesday

Athens 11/12/1998 (ANA)

The bonds in electronic form are at an annual 8.6 percent, the ministry said in a statement yesterday.

The government is seeking to raise 280 billion drachmas from the auction.

Athens News Agency

[18] National Bank of Greece to pursue family-oriented policy

Athens 11/12/1998 (ANA)

National Bank governor Theodoros Karatzas told a news conference that the stock split would increase the bank's shares fourfold, which meant in practice that the purchase cost of ten shares would drop to 130,000 drachmas from the current 540,000 drachmas.

A proposal for the stock split would be made to the bank's board next week, which in turn would call a shareholders' meeting for final approval.

New telemarketing services come into effect next week, and banking services via Internet are to begin in 1999.

The bank's decision to slash its rates effective on Monday stemmed from a cut in key central bank rates on Wednesday and a healthy macro-economic outlook, Mr. Karatzas said.

In addition, the bank was judicious in its award of credit in order to protect customers from over-endebtedness and the bank from bad debts, he said.

New housing loan schemes were announced on Wednesday.

Finally, the bank's restrained credit expansion would not contribute to inflationary pressures, Mr. Karatzas said.

Athens News Agency

[19] Foreign currency shipping inflows rise 2.3 pct Jan-June

Athens 11/12/1998 (ANA)

In April-June inflows from shipping were 561.9 million dollars from 529.5 million dollars in the same period of 1997, up 6.1 percent, the ministry said in a statement.

Athens News Agency

[20] Stocks end flat, seen consolidating above 2,500 pts

Athens 11/12/1998 (ANA)

The general index ended 0.19 percent lower at 2,536.88 points. Trade was moderate with turnover sharply down at 66.5 billion drachmas from 86.6 billion drachmas a day earlier. Volume was 15,558,000 shares.

Fuelling trade was heavy demand for state-run National Bank of Greece, which had announced sharp rate cuts on Wednesday after the central bank lowered three key rates. Yesterday it announced that it would seek shareholders' approval for a stock split.

Other commercial banks followed suit in the race to cut rates, including listed Ergobank, Xiosbank and Commercial Bank of Greece.

The FTSE/ASE-20 blue chip index nosed up 0.04 percent to finish at 1,571.85 points.

Outperforming the general index was the parallel market for smaller cap stocks, which closed 1.10 percent higher.

Sector indices finished mixed.

Banks rose 1.31 percent, Leasing dropped 0.47 percent, Insurance jumped 2.35 percent, Investment crept up 0.18 percent, Construction edged up 0.13 percent, Industrials slumped 1.33 percent, Miscellaneous increased 0.11 percent, and Holding dropped 1.36 percent.

Of 272 shares traded advances led declines at 122 to 120 with 30 unchanged.

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

Scoring the highest percentage gains at or near the daily 8.0 percent upper volatility limit were Folli Follie, Macedonia Plastics, Benroubi, Levenderis, Eskimo, Esha, Mouzakis and Papoutsanis.

Posting the biggest percentage losses were Dimitriadis, General Warehouses, Etma, Orion, Bank of Piraeus, Alcatel, Piraeus Leasing, Loulis Flour Mills, Xylemboria, Karelia, and Parnassus Enterprises.

National Bank of Greece ended at 55,500 drachmas, Ergobank at 28,200, Alpha Credit Bank at 27,900, Ionian Bank at 13,700, Hellenic Telecommunications Organisation at 6,415, Delta Dairy at 3,465, Intracom at 12,510, Titan Cement at 20,495, Hellenic Petro leum at 2,220, Minoan Lines at 6,390, and Panafon at 6,425 drachmas.

Athens News Agency

[21] Central bank intervenes to curb unbridled drachma

Athens 11/12/1998 (ANA)

The national currency still closed higher against key currencies, they said.

The dollar was 278.590 drachmas at the fix, the mark 167.700 drachmas, and the Ecu 328.940 drachmas.

Interbank rates in the domestic money market eased slightly although shorts remained high in tight liquidity despite the central bank's cuts on Wednesday in two working market rates for two-week depos and overnight funds, and in its Lombard rate.

National Bank of Greece quoted an overnight rate around 12.10 percent and a one-month rate around 12.00 percent.

Some profit-taking was seen in the bond market following the central bank's announcement of rate cuts.

Trade was active in 10-year bonds with turnover exceeding 10 billion drachmas, linked to a reopening of an earlier issue in a finance ministry auction on Tuesday.

Athens News Agency

[22] Contract for customs service's computerisation with Bull, Intrasoft

Athens 11/12/1998 (ANA)

Customs officials said after a signing ceremony that the new system will enhance effectiveness by minimising tariff evasion and instituting better control of substances harmful to public health.

Finance Deputy Minister George Drys added that the tax bureau's "Taxis" system was already in operation in 100 taxation bureaus, and promised that it would cover the entire number by the end of 1999.

Athens News Agency

[23] Commercial Bank, Xiosbank slash interest rates

Athens 11/12/1998 (ANA)

The average decrease of lending rates was set at 2 per cent, while the cut in deposit rates was set at 0.5 per cent. The recent spate of rate reductions followed a Bank of Greece rate decrease earlier in the week.

According to an announcement, Commercial Bank home loan rates with a fixed rate for the first three years were set at 9.5 per cent, down from 12 per cent.

Meanwhile, Xiosbank's home loan floating interest rate was set at 13.75 per cent, down from 14.5 per cent.

Athens News Agency

[24] General Bank points to successive share capital increases

Athens 11/12/1998 (ANA)

The first considerable increase in the bank's share capital will take place in 1999.

Bank officials also announced that the state-run institution's decision to proceed with the creation of a brokerage firm, a bankassurance subsidiary and other banking products. Additionally, a branch office in London was announced, while four new branch es are planned in Greece and in areas where General Bank has no presence, such as Elefsina, western Attica.

Athens News Agency

[25] Importance of lignite to Greek economy stressed

Athens 11/12/1998 (ANA)

Results revealed that 76.6 per cent of Greece's total electric power production comes from lignite.

A Public Power Corp. (DEH) official said the impressive development of the lignite industry enables Greece to hold second place in lignite production in the European Union, third place in Europe and fourth in the world.

According to DEH figures, about 60 million tonnes of lignite are mined annually - equal to 7.3 million tonnes of crude oil.

Lignite mines employ 8,000 people on a permanent basis, while the figure amounts to 12,000 if related activities are included.

Athens News Agency

[26] Municipal dues billed direct instead of on power bill examined

Athens 11/12/1998 (ANA)

In a statement yesterday, Development Minister Vasso Papandreou said that for this reason a special committee has been created to examine the issue.

She said that whatever changes might arise will be included in a new law being promoted by the ministry on EU-mandated deregulation of the European energy market.

Ms Papandreou said that in whichever case, increases imposed by local governments for municipal dues must follow the overall economic policy set by the government, namely, keeping inflation in check.

Athens News Agency

[27] ETANE-Euclidis merger

Athens 11/12/1998 (ANA)

The share ratio in the new company will be 52.7 for Euclidis and 47.3 per cent for ETANE. The ratio of exchanging existing shares was set at 1:1, while the total number of ordinary nominal shares will amount to 5.12 million and will have a face value of 100 drachmas each.

Athens News Agency

[28] Off-shore oil field workers protest terminations

Athens 11/12/1998 (ANA)

Waving black banners and plackards with slogans against unemployment, protesters occupied the building for several hours, blocking the entrance to everyone except for the local prefecture.

Citing financial problems, low production and a severe dip in international crude oil prices, NAPC last week forwarded termination notices to its entire workforce, sparking vehement protests among the 400 employees at the Prinos off-shore oilfield in th e northern Aegean.

Athens News Agency

[29] Hellenic Bank branch opens in Athens

Athens 11/12/1998 (ANA)

Speaking at a ceremony, the president of Hellenic Bank Ltd., Panos Galanos, expressed optimism over the bank's successful course in Greece, underlining that the common language and culture and the unbreakable historical and cultural ties between Greece and Cyprus will contribute in this direction.

Athens News Agency

[30] Gov't: Nothing new in press article presenting Commission report

Athens 11/12/1998 (ANA)

The Athens daily "Athinaiki" presented an introductory report by the European Commission on Greece's convergence programme.

Mr. Athanassakis said that the Commission usually uses tough wording in its positions, adding that the convergence programme, as well as that for structural changes, has been announced and is being observed by the government.

Athens News Agency

[31] Computer cross-checking uncovers some 5,700 fraudulent pensions

Athens 11/12/1998 (ANA)

He also said that of the approximately 1,000 doctors checked by the ministry who are under contract with the civil servants' insurance funds and received between 10 to 300 million drachmas for services, 300 were found to be evading taxes by not declaring the full amount of their income.

The minister added that all such physicians will forgo all contracts with the government.

Finally, he announced that more than 5,000 health insurance account booklets were found to be illegally obtained and used.

Athens News Agency

[32] Commission to take recourse against Athens over dangerous substance directive

BRUSSELS 11/12/1998 (ANA - P. Pantelis)

The first is the European Commission's Directive 54 (1996) which has amended the Council of Ministers' directive 548 of 1957 and refers to the classification, packaging and labelling of dangerous chemical substances.

The second is the European Parliament's and Council of Ministers' Directive 56 of 1996 which also amends directive 548 of 1967.

Directive 548 is one of the first directives on the environment and is aimed at a rapprochement between national legislations on new chemical substances and to secure a high level of protection for human health and the environment.

The European Commission also sent an avis against Germany for failing to implement Directive 56 of 1996.

Athens News Agency

[33] Athens Foreign Exchange

Athens 11/12/1998 (ANA)

Parities in Drachmas

Banknotes            Buying  Selling
US Dollar            276.361 282.769
Can.Dollar           179.790 183.959
Australian Dlr       171.418 175.392
Pound Sterling       459.236 469.884
Irish Punt           413.168 422.747
Pound Cyprus         560.460 573.455
Pound Malta          685.275 713.828
Turkish pound (100)    0.080   0.083
French franc          49.608  50.758
Swiss franc          204.416 209.156
Belgian franc          8.065   8.252
German Mark          166.358 170.215
Finnish Mark          54.705  55.973
Dutch Guilder        147.525 150.946
Danish Kr.            43.680  44.692
Swedish Kr.           34.313  35.109
Norwegian Kr.         36.670  37.520
Austrian Sh.          23.633  24.181
Italian lira (100)    16.794  17.183
Yen (100)            234.826 240.271
Spanish Peseta         1.954   2.000
Port. Escudo           1.621   1.659

Foreign Exchange     Buying  Selling
New York             276.361 282.769
Montreal             179.790 183.959
Sydney               171.418 175.392
London               459.236 469.884
Dublin               413.168 422.747
Nicosia              560.460 573.455
Paris                 49.608  50.758
Zurich               204.416 209.156
Brussels               8.065   8.252
Frankfurt            166.358 170.215
Helsinki              54.705  55.973
Amsterdam            147.525 150.946
Copenhagen            43.680  44.692
Stockholm             34.313  35.109
Oslo                  36.670  37.520
Vienna                23.633  24.181
Milan                 16.794  17.183
Tokyo                234.826 240.271
Madrid                 1.954   2.000
Lisbon                 1.621   1.659
Athens News Agency

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