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Athens News Agency: Daily News Bulletin in English, 99-01-20

Athens News Agency: Daily News Bulletin in English Directory - Previous Article - Next Article

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

CONTENTS

  • [01] Pangalos strongly condemns latest massacre in Kosovo
  • [02] Burns cites major progress on Greek-US relations
  • [03] Karamanlis pleased with contacts in Spain
  • [04] Venizelos lauds Greek Euro-MPs for initiative on Parthenon Marbles
  • [05] Gov't predicts normalisation in education sector
  • [06] Parliament discussion focuses on S-300s issue today
  • [07] Gov't on 'millennium' computer problem
  • [08] Average weighted yield slides in 3-yr bond auction
  • [09] Black Sea fibre optics pact to be signed today
  • [10] ANEK passenger shipper to make trading debut tomorrow
  • [11] Sanyo Hellas to boost share capital by Dr 10 bln
  • [12] Stocks drop in active trade, flirt with 3,000-pt barrier
  • [13] Xiosbank cuts interest rates
  • [14] Independent deputy wary of Greek entry into EMU
  • [15] Head of MIT's Media Lab visits Intracom
  • [16] CAP revision dominates EU farm ministers' council meeting
  • [17] Protopapas cites emphasis on active policies against joblessness
  • [18] Pensioners' rally in downtown Athens
  • [19] HEPO participation in Bucharest exhibition
  • [20] Initiative against child labour
  • [21] Athens Foreign Exchange

  • [01] Pangalos strongly condemns latest massacre in Kosovo

    SOFIA 20/01/1999 (ANA - M. Savva)

    Foreign Minister Theodoros Pangalos said yesterday that the persons responsible for the massacre of 45 ethnic Albanians in a Kosovo village should be "condemned, isolated and treated as criminals."

    He stressed that the responsibility of the Yugoslav government in the incident was clear.

    The Greek minister was speaking at a news conference after talks in the Bulgarian capital with his counterpart Nadezhda Mihailova as part of a two- day visit to the neighbouring country and Romania.

    US diplomatic observers on Saturday found the bodies of the ethnic Albanians, victims of an alleged massacre by Yugoslav police, in and around Racak, about 25 km south of Pristina, the capital of the strife-torn Yugoslav province.

    Belgrade claims the massacre was an elaborate hoax by the west and a pretext for intervention by NATO.

    Mr. Pangalos also attributed responsibility to the Albanian side for what he called their provocations and "irresponsible acts", while hastening to add that these could in no way justify mass slaughter.

    Mr. Pangalos, who communicated with the Serbian leadership late Monday night, described as mistaken the Yugoslav government's decision not to accept OSCE observers in the country, and expressed the hope that the 48- hour deadline would work in a positive manner and that in the end the observers would stay. "The opposite would be unacceptable for the prestige of OSCE, harmful to the Serbian government and particularly painful for the population groupings in the area," he said.

    Regarding the possibility of a military intervention in Kosovo, Greece and Bulgaria appeared with identical positions.

    Asked about the possibility of NATO intervention, Mr. Pangalos contrasted it with the case of Iraq where, he stressed, the targets of the US and British bombing raids had been strategic, while in Kosovo there were no such targets.

    "Everyone is talking about who will carry out the bombing. Nobody has explained who and what will be bombed," he said.

    Ms Mihailova said her country was in favor of a peaceful resolution of the crisis and asked for its participation in the force of international observers.

    While focusing on recent developments in Kosovo, yesterday's talks between Ms Pangalos and Ms Mihailova concluded with the signing of a bilateral customs cooperation accord. The two foreign ministers agreed that Greece and Bulgaria have already set the appropriate framework for regular bilateral contacts, but also at the level of trilateral cooperation that will also involve Romania for discussion on prominent political issues, infrastructure, the fight against crime, as well as economic and trade issues.

    They also discussed a Greek initiative for the creation of a 25 km wide border zone for the free movement of people between the two countries.

    Responding to a question by a Greek reporter on the issue of suspending the operation of the four reactors of the Kozlodui nuclear power plant, which is considered by western experts as dangerous, Mr. Pangalos said Greece was opposed to the use of nucl ear power in any form, but added that Bulgarian PM Ivan Kostov had handed, in a friendly gesture, a detailed report to his Greek counterpart Costas Simitis on the plant a few months ago.

    Mr. Pangalos, who left last night for Bucharest, also pledged Greek support for the construction of a second bridge over the Danube - the border between Bulgaria and Romania.

    Athens News Agency

    [02] Burns cites major progress on Greek-US relations

    Athens 20/01/1999 (ANA)

    US ambassador in Athens Nicholas Burns detailed yesterday what he referred to as the "significant progress" in Greek-US relations over the past few years, while placing bilateral trade and investment ties squarely on the top of his agenda.

    "After one year, I'm now optimistic, a great deal has changed...with the Greek government especially responsible for this change," the US ambassador said.

    Although the prospect of improved trade and investment relations dominated Mr. Burns' speech, he also touched on various foreign policy issues, reiterating that Washington favours autonomy for the troubled Yugoslav province of Kosovo but no change of borders or independence.

    He also called for a "more humanistic" approach to the problem by Belgrade, while responding to a press question he added that he spoke with the Greek government on Monday regarding the issue, following the latest violence in Kosovo.

    Questioned over the impeachment hearings in the US Senate against US President Bill Clinton, he gave a personal view: "You're seeing US democracy in action, with its positives and negatives..."

    Mr. Burns, the former US State Department spokesman in the current Clinton administration, was the guest speaker at a luncheon organised by the Piraeus Marine Club, held at the organisation's waterfront premises in the heart of Greece's shipping district.

    Speaking to some of Greece's foremost shipping executives and shipowners, Mr. Burns covered practically the entire gamut of Greek-US relations, citing a mostly convergence of views between Athens and Washington recently on foreign policy issues ranging from Kosovo to the Iraqi crisis and even on dealing with Libya.

    Mr. Burns also lauded Athens' efforts at mediating between Israel and the Palestinians, pointing to three conferences sponsored by Greece so far focusing on the Mideast peace process.

    Referring to Cyprus, Mr. Burns said the US is actively involved in attempting to assist in resolving the problem, while pointing out that "the US would not have sold the Patriot (anti-aircraft) system to Cyprus" and that some "15 years separate" the inv asion of Cyprus and the invasion of Kuwait.

    "Turkey is an ally of the US. It's also an ally of Greece. Iraq is not an ally of Greece, the US or Turkey," he said in response to a question drawing a parallel between the two invasions and subsequent US actions.

    "We don't favour Turkey over Greece, or Greece over Turkey. I can assure you we don't favour one over the other."

    However, he did directly blamed Turkish Cypriot leader Rauf Denktash for the failure of last year's US-sponsored talks on the divided island republic, reiterating Washington's opposition to a Turkish Cypriot and Ankara-backed proposal for a confederatio n solution on Cyprus.

    "Denktash did not allow for this (progress) to happen. He made unreasonable demands...We favour a bizonal, bicommunal federation on Cyprus."

    The US envoy highlighted the fact that no US cabinet secretary had visited Greece between 1994 and early 1998, stressing however that a new chapter in relations has dawned, as Washington's defence and commerce secretaries arrived last year along with the FBI director and high-ranking US diplomat Richard Holbrooke, the special US presidential envoy for Cyprus and Dayton accords architect.

    Mr. Burns stated that he hoped US Secretary of State Madeleine Albright would also schedule a visit to Greece in the near future.

    The US envoy called the previous condition of Greek-US economic relations as being on "life supports", saying Greece was last on the list for US investments among EU members, and second to last among the United States' EU trading partners. He cited a dramatic increase in both trade and investments.

    He also mentioned Greek Premier Costas Simitis, FM Theodoros Pangalos and Defence Minister Akis Tsohatzopoulos as among the first Greek officials to call for better Greek-US cooperation when he initially took up the post of US ambassador in Athens more than a year ago.

    Finally, the 43-year-old Massachusetts-raised US ambassador outlined five reasons why he believes Greek-US relations have improved recently, listing restored trust, cooperation on foreign policy issues, a long-time military relationship, as he noted, in creased trade relations and finally, "a desire" by both the Greek and American people for close ties.

    "We have a blood relationship between us...I think the people of Greece and the US are ahead of their governments, they want us to get with the programme," Mr. Burns said.

    Both the Panamanian and the Lebanese ambassadors in Greece attended the luncheon.

    Athens News Agency

    [03] Karamanlis pleased with contacts in Spain

    MADRID 20/01/1999 (ANA - A. Panagopoulos)

    Main opposition New Democracy leader Costas Karamanlis yesterday called his visit to the Spanish capital successful, adding "our aims have been achieved."

    Mr. Karamanlis said both during his meeting with Spanish PM Maria Aznar and during unofficial contacts with the other representatives of the European Peoples' Parties (EPP) he "realised common ground on most issues and in some cases even on the issue of European Union budget contributions."

    Mr. Karamanlis appeared to be in agreement with Mr. Aznar that there's no conflict on the budget issue between the Union's north and south, rather it is an issue of equal distribution of financial burdens between member- states of the north, saying some do not contribute their fair share based on GDP.

    He added that ND supports the idea of a federal European Union, as does Germany, while there are some member-states that are not opposed to the idea of a federation, but rather to the speed towards federation.

    ND's leader also said that he was very satisfied with the discussion during the EPP's conference.

    Athens News Agency

    [04] Venizelos lauds Greek Euro-MPs for initiative on Parthenon Marbles

    Athens 20/01/1999 (ANA)

    Culture Minister Evangelos Venizelos yesterday sent a letter to five Greek Eurodeputies congratulating them on their initiative and success in getting colleagues in Strasbourg to sign a petition calling for the return of the Parthenon Marbles from the British Museum in London to Greece.

    In the letter, Mr. Venizelos said the initiative enabled him to raise the issue for discussion at the Council of Culture Ministers.

    "Of course, in view of Britain's stance, even after its return to UNESCO as a full member, international pressure has practical significance when it takes the form of direct pressure on the United Kingdom," he said.

    On Friday, 339 of 626 European Parliament deputies, or more than half of the assembly, signed a petition in favour of a return of the priceless 5th century BC Parthenon friezes from Britain.

    The petition states: "it would be a timely act which would contribute to our common European cultural heritage."

    It was the third, and first successful, attempt by Greek Eurodeputies to gather enough signatures for a formal resolution. The other two attempts occurred in 1994 and 1996.

    Greece has been trying for years to secure the return of the marbles, removed from the Parthenon by Lord Elgin before Greek independence from Ottoman rule. Elgin sold them to the British Museum in 1816.

    Britain has repeatedly refused Greece's requests, saying they were safer at the British Museum than in the smog of Athens, despite recently acknowledging that some damage was caused by cleaning in 1937.

    According to the results of a recent MORI poll, if there were a referendum on whether or not the Parthenon Marbles should be returned to Greece or remain at the British Museum, the British public would vote for return, by a margin of more than two to one.

    The petition will be sent to the prime ministers of Britain and Greece, the president of the Council of Europe Parliamentary Assembly Leni Fischer and the president of the European Commission Jacques Santer on Feb. 8.

    Mr. Venizelos said that according to his information, the issue of the return of the marbles to Greece would now once again be raised in the British Parliament "on new, more optimistic conditions".

    Athens News Agency

    [05] Gov't predicts normalisation in education sector

    Athens 20/01/1999 (ANA)

    The government yesterday predicted a return of secondary school pupils and teachers to class very soon, stressing that there could be no other solution and noting what it said was a decline in the number of schools being occupied.

    Replying to reporters' questions, government spokesman Dimitris Reppas also clarified that yesterday's meeting between Prime Minister Costas Simitis and Education Minister Gerasimos Arsenis was a scheduled one, during which the minister briefed the premier on "all education-related issues".

    Parliament on Saturday night voted 163-127 to reject a no-confidence motion tabled against Arsenis by the main opposition New Democracy (ND) party last week.

    ND had cited what it described as "the explosive dimensions" of the ongoing student protests against the government's sweeping reforms in secondary education.

    Protests and sit-ins have meant many schools around the country have not opened for weeks. Snap roadblocks in cities and on major highways have caused traffic chaos and on occasion resulted in scuffles between drivers and student protesters.

    Asked whether Mr. Simitis had urged Mr. Arsenis to make certain concessions, Mr. Reppas replied that "this issue was not raised, nor will it be raised", adding that the policy being implemented by Mr. Arsenis was government policy.

    He said on Monday that the education minister enjoyed the confidence of the prime minister and had no reason to resign.

    Students occupying the "Euclid" complex - one of five schools still under occupation in Thessaloniki - today blocked a main road for two hours and threw eggs at a television crew.

    A trade union coordinating committee affiliated to the Communist Party of Greece (KKE) announced meanwhile that it would stage a rally on Thursday in Thessaloniki in support of student protests.

    In Hania, Crete, about 350 high-school students joined farmers in a rally and march to the prefectural building to press demands for protective measures for their olive oil and citrus fruit crops.

    Before the march reached the prefectural building, the students broke off and headed for the town hall, where a small group threw eggs and stones at the entrance and windows of the building.

    After a while they rejoined the farmers outside the prefectural building.

    About 150 high-school students held a march in Piraeus this morning to protest the government's reforms, shouting slogans against Arsenis and setting off fireworks. The protesters also threw eggs and fruit at TV crews.

    The march caused traffic chaos in Piraeus for about one hour.

    High-school students are meanwhile scheduled to hold a protest rally in central Athens at 7 p.m. local time tonight.

    Two people were arrested during yesterday's rally, after police used tear gas against stone-throwing youths.

    According to estimates, the rally attracted no more than 3,000 youths, considerably less than the last protest gathering.

    Athens News Agency

    [06] Parliament discussion focuses on S-300s issue today

    Athens 20/01/1999 (ANA)

    The cancellation of the Russian-made S-300 missile system's deployment on Cyprus will be discussed again in Parliament today during the questioning period for Prime Minister Costas Simitis, following two tabled questions by opposition MPs.

    Ruling PASOK deputy Lefteris Verivakis has also tabled a question with regard to the validity of a report published in the New York-based Greek- language "Proini" daily, which claims that the Cyprus government was holding negotiations over the deployment of the missiles in Egypt.

    Athens News Agency

    [07] Gov't on 'millennium' computer problem

    Athens 20/01/1999 (ANA)

    Greece will spend some 15 billion drachmas on dealing with the "millennium" problem among the world's computer networks, although work is proceeding at a very satisfactory rate, Interior Minister Alekos Papadopoulos said yesterday.

    Mr. Papadopoulos was speaking after chairing a high-ranking meeting on the problem. The meeting was attended by the ministers of defence, national economy, development and transport and communications, as well as officials from the sectors of industry, banking, and other affected sectors.

    The meetings are held on a monthly basis to coordinate work on the issue between ministries, government services and the private sector.

    This month's meeting decided to establish a '2000 working group' to deal with the sensitive areas of the economy and to draft emergency contingency plans; and to step up approval processes to procure equipment that will help deal with the 'millennium bug'.

    Mr. Papadopoulos said that both the public and private sectors had shown good progress, although he admitted that some areas in the public sector were lagging.

    The meeting approved a plan to help hundreds of small and medium-size enterprises which have little access to ways of dealing with the problem. The action plan will be coordinated by chambers of commerce, the Federation of Greek Industries and other private agencies.

    Mr. Papadopoulos said Greece was not one of the countries that could be considered to be facing major disruption for two reasons: because much work has been done and the situation appears to be under control; and because the comparitive lateness in the introduction of computers to Greece and particularly in the public sector, had, paradoxically, offset the extent of the problem.

    Athens News Agency

    [08] Average weighted yield slides in 3-yr bond auction

    Athens 20/01/1999 (ANA)

    The average weighted yield on three-year bonds dropped to 7.56 percent from 9.36 percent in November in a finance ministry auction held yesterday.

    Bids by primary dealers totalled 563.3 billion drachmas, 3.1 times above the 180 billion drachmas sought by the government. The ministry accepted bids totalling 214 billion drachmas.

    The average weighted yield was lower than the security's coupon of 7.6 percent.

    The average weighted price was set at 100.09 and the lowest accepted price was 100.05.

    The finance ministry also replaced a three-year bond dated November 20, 1998, offering a fixed interest rate of 9.3 percent, with yesterday's bonds, to yield 7.71 percent.

    The repurchase bids totalled 140.4 billion of the 144 billion drachma total.

    Financial markets lacklustre in quiet trade : Trade was subdued in the secondary bond market yesterday with electronic turnover a scant nine billion drachmas and prices staying flat.

    The 15-year bond was 110.60, the 10-year bond 115.10-115.15, and the seven- year bond 110.40.

    Interbank rates again remained firm with overnight funds at 12.20 percent, one-month funds at 11.40 percent and 12-month funds at 10.70 percent.

    The drachma again was strong, aided by a slight drop in the euro on world markets.

    In the domestic market, the euro was trading between 323.20 drachmas and 323.80 drachmas, lower than resistance, to end at the daily central bank fix at 323.630 drachmas against 323.440 at the previous fix. After the fix, the euro slipped to 323.00 drachmas.

    The yen was sharply down at 244.330 drachmas against 247.890 at the end of 1998.

    Athens News Agency

    [09] Black Sea fibre optics pact to be signed today

    Athens 20/01/1999 (ANA)

    An agreement for the construction and maintenance of a Black Sea undersea fibre optics telecommunications system linking seven countries is to be signed today at a central Athens hotel.

    The signing ceremony will be attended by representatives of the transport and communications ministry and Hellenic Telecommunications Organisation.

    Also attending are officials from telecoms companies in Armenia, Bulgaria, Russia, Ukraine, Cyprus and Slovenia.

    Athens News Agency

    [10] ANEK passenger shipper to make trading debut tomorrow

    Athens 20/01/1999 (ANA)

    ANEK, a major passenger shipper, is to begin trading on the Athens bourse tomorrow.

    The Crete-based shipper plies routes between the southern island and the port of Piraeus; and between western Greek ports and Italy.

    The company announced yesterday that a ferry it bought had set sail from Mitsubishi's shipyard in Japan after refurbishing. It is due to arrive in Greece on February 2.

    Athens News Agency

    [11] Sanyo Hellas to boost share capital by Dr 10 bln

    Athens 20/01/1999 (ANA)

    Shareholders of Sanyo Hellas Holding yesterday endorsed a 10-billion drachma share capital rise through a cash deposit, capitalisation of reserves and mergers or acquisitions of subsidiaries.

    Company chairman Stavros Papageorgiou said that the new capital would be used to finance the following activities:

    • Fund natural gas projects in Ukraine (3.0 billion drachmas)
    • Develop wholesale and retail sales in electrical goods through the firm's Club Electric subsidiary (1.5 billion)
    • Extend the network run by Sanyocom, provider of state Cosmote mobile phone operator (500 million)
    • Completion of a project in Kifissias Avenue (1.5 billion)
    • Acquisitions and mergers due to be announced before the share capital rise (3.5 billion)

    Mr. Papageorgiou said that in 1998 the parent company's turnover was more than 8.0 billion drachmas and net profits nearly 1.0 billion drachmas, which are expected to rise to 2.5 billion drachmas this year.

    Athens News Agency

    [12] Stocks drop in active trade, flirt with 3,000-pt barrier

    Athens 20/01/1999 (ANA)

    Equities ended lower yesterday as profit taking reversed a rally on the Athens Stock Exchange in the previous session.

    The general index ended 0.89 percent off at 2,960.85 points although it temporarily broke through resistance at 3,000 points early in the day.

    Turnover was 99.7 billion drachmas and volume 21,335,000 shares.

    Sector indices suffered losses across the board.

    Banks fell 0.34 percent, Leasing plunged 4.39 percent, Insurance dropped 3.42 percent, Investment fell 1.31 percent, Construction rose 0.56 percent, Industrials eased 0.95 percent, Miscellaneous ended 0.37 percent down and Holding fell 1.59 percent.

    The parallel market index for small cap companies ended 0.84 percent down while the FTSE/ASE 20 index fell 0.59 percent to 1,871.56 points.

    Bank of Piraeus, Strintzis Line, Eskimo and Mytilineos were the most heavily traded stocks.

    Broadly, advancers led decliners by 149 to 131 with another 11 issues unchanged.

    Pantechniki jumped 14.9 percent on its second day of trade. The 8.0 percent daily upper volatility limit does not apply to new listings.

    Elfico, Fintexport, Dimitriadis, Gekat, Hellenic Biscuits, Despec, Yalco, Koumbas andLevenderis all hit limit up.

    Maxim, Eskimo, Papoutsanis, General Bank, Varagis, Allatini, Radio Athina, Mytilineos and Ideal suffered the heaviest losses.

    National Bank of Greece ended at 67,450 drachmas, Ergobank at 36,325, Alpha Credit Bank at 31,250, Ionian Bank at 15,975, Titan Cement at 21,300, Hellenic Petroleum at 2,330, Intracom at 14,030, Minoan Lines at 7,360, Panafon at 8,700 and Hellenic Telecommunications Organisation at 8,095 drachmas.

    Athens News Agency

    [13] Xiosbank cuts interest rates

    Athens 20/01/1999 (ANA)

    Xiosbank, which is listed on the Athens bourse, yesterday cut its interest rates on loans and deposits.

    The private bank's savings deposit rate fell by half a percentage point to 8.0 percent in an account that will post annual returns of 8.16 percent.

    Athens News Agency

    [14] Independent deputy wary of Greek entry into EMU

    Athens 20/01/1999 (ANA)

    Independent deputy Stephanos Manos yesterday accused the government of failing to prepare the public for the repercussions of entry into European economic and monetary union, expected by January 1, 2001.

    "Structural changes will also have to continue after EMU entry (but) today's political system has not dealt with this prospect and has failed to explain to the public what has to happen," Mr. Manos said.

    New political forces were needed, he added.

    According to the former conservative national economy minister, the government had engaged in "creative accounting" that would take the country into EMU but conceal a hidden shortfall of around 1.0 trillion drachmas.

    Mr. Manos was addressing a Greek-Italian symposium in Athens.

    Athens News Agency

    [15] Head of MIT's Media Lab visits Intracom

    Athens 20/01/1999 (ANA)

    The head of the Massachusetts Institute of Technology's Media Lab, Nicholas Negroponte, yesterday toured the installations of Intracom, a hi-tech blue chip on the Athens bourse.

    The Media Lab and Intracom on December 23 signed a three-year cooperation agreement in information technology and telecoms.

    Mr. Negroponte, whose origin is Greek, is in Athens at the invitation of the Hellenic-American Chamber of Commerce.

    He will speak tomorrow at the US Amtech trade fair.

    Athens News Agency

    [16] CAP revision dominates EU farm ministers' council meeting

    BRUSSELS 20/01/1999 (ANA - P. Pantelis)

    Problems of revising the Common Agricultural Policy (CAP) within the framework of "Agenda 2000" were discussed at a two-day council of EU farm ministers, the first under the German European Union presidency.

    Bonn is reportedly in a hurry to achieve a compromise agreement on the issue before the extraordinary European Council in March.

    Talks also focused on revising the status governing beef, milk and the problem regarding pork, but without any decisions being taken. Greece was represented by Agriculture Minister George Anomeritis.

    On the question of revising CAP, Mr. Anomeritis said "whatever agreement by Greece on CAP is also related to the conclusion of the discussion on the EU's own resources, as well as with the decisions on funding agricultural guarantees. The EU budget must find agricultural guarantees in their entirety and we must not be lead to a system of renationalising CAP with joint funding mechanisms by national budgets. The reforms necessitate a cost and require appropriate preparation. Otherwise, they provoke social reactions, imbalances in the market and problems in businesses."

    On the question of reshaping the status governing beef, Mr. Anomeritis agreed in principle on the EU's proposals anticipating a gradual decrease in institutional prices by 30 per cent as of the year 2000.

    Mr. Anomeritis will travel to Berlin today to attend events included in the "green week" organised every year and which coincides with the German presidency this year. He will be holding a private meeting with German Agriculture Minister Karl-Heinz Funke in Berlin, who presides over the EU Council of Ministers.

    Deputy Agriculture Minister Dinos Vrettos, responsible for fisheries, is in Brussels where he held private talks with EU Fisheries Commissioner Emma Bonino and Spanish Agriculture Minister Loyolla de Palacio.

    Athens News Agency

    [17] Protopapas cites emphasis on active policies against joblessness

    Athens 20/01/1999 (ANA)

    The government's main objective is to open a dialogue with social partners aimed at striking a confidence accord on employment, Labour Deputy Minister Christos Protopapas said yesterday while addressing an event organised by the Greek-Italian Chamber.

    Mr. Protopapas said that an estimated 500 billion drachmas will be allocated within 1999 to subsidise 100,000 job positions to be filled by unemployed individuals.

    Mr. Protopapas said the government was now choosing to turn from passive to active forms of employment support, which means that in the coming years subsidies now paid to the unemployed will be paid to businesses as a motive to creating jobs.

    Referring to the 35-hour working week, the labour deputy minister said the government regarded that the issue remained open to debate as a possible measure, which however should be linked to further promoting labour relations flexibility to prevent a drop in Greek businesses' competitiveness.

    Athens News Agency

    [18] Pensioners' rally in downtown Athens

    Athens 20/01/1999 (ANA)

    More than 3,000 pensioners held a rally in the centre of Athens yesterday followed by a march to the office of Prime Minister Costas Simitis to press demands for real pension increases and tax relief.

    Pensioners arrived at the premier's office shortly after noon and dispersed two hours later, after a delegation failed to meet with Mr. Simitis.

    Initially, beefed up police forces prevented pensioners' representatives from approaching the premier's office, provoking cries of protest from the demonstrators.

    Following negotiations, the delegation had talks with Deputy Minister to the PM George Paschalidis and Social Security Deputy Minister Fivos Ioannidis.

    Mr. Simitis promised a new meeting in early February so that he could be fully briefed.

    The aim of the pensioners' rally and march was to express opposition to the government's economic policy and particularly those aspects related to pension and social security issues.

    They are pressing for a minimum pension equal to 20 days' wages of an unskilled labourer, annual tax-free income of two million drachmas, pension increases higher than the annual rate of inflation and satisfaction of a number of health-related demands.

    Athens News Agency

    [19] HEPO participation in Bucharest exhibition

    Athens 20/01/1999 (ANA)

    The Hellenic Foreign Trade Board (HEPO) will organise Greece's participation in the international consumer goods exhibition TIBCO '99, to be held in Bucharest from May 25-30.

    Products to be displayed at the exhibition, considered the most important in the consumer sector in Romania, include foodstuffs, beverages, clothing, shoes, leather products, furniture, household appliances, chemical products for homes, perfumes, cosmetics, toys, electric appliances, items of popular art, tutorial materials, jewellery, medicines, opticals, auto accessories and services.

    For more information, interested parties should call HEPO's office in Athens at 99.82.245 by Jan. 25.

    Athens News Agency

    [20] Initiative against child labour

    Athens 20/01/1999 (ANA)

    The Maragopoulou Institute for Human Rights is leading a local initiative aimed at establishing an international agreement to combat child labour.

    The president of the Maragopoulou Institute, the general secretaries of the labour and welfare ministries as well as the president of the General Confederation of the Workers of Greece (GSEE) yesterday announced an action plan aiming to assist in intern ational efforts to combat child labour.

    Mrs. Maragopoulou blamed multinationals from developed countries for the failure of similar efforts last year and recommended action to alert public opinion to the exploitation of children.

    Athens News Agency

    [21] Athens Foreign Exchange

    Athens 20/01/1999 (ANA)

    Bank of Greece closing rates of: January 19, 1999

    Parities in Drachmas

    Banknotes            Buying  Selling
    US Dollar            275.964 282.363
    Can.Dollar           179.393 183.553
    Australian Dlr       174.602 178.650
    Pound Sterling       458.046 468.666
    Irish Punt           407.638 417.089
    Pound Cyprus         551.552 564.340
    Pound Malta          684.290 712.802
    Turkish pound (100)    0.072   0.075
    French franc          48.942  50.077
    Swiss franc          200.905 205.563
    Belgian franc          7.958   8.143
    German Mark          164.146 167.951
    Finnish Mark          53.995  55.247
    Dutch Guilder        145.682 149.060
    Danish Kr.            43.154  44.155
    Swedish Kr.           35.539  36.363
    Norwegian Kr.         37.140  38.002
    Austrian Sh.          23.331  23.872
    Italian lira (100)    16.580  16.965
    Yen (100)            242.375 247.995
    Spanish Peseta         1.929   1.974
    Port. Escudo           1.601   1.638
    
    Foreign Exchange     Buying  Selling
    New York             275.964 282.363
    Montreal             179.393 183.553
    Sydney               174.602 178.650
    London               458.046 468.666
    Dublin               407.638 417.089
    Nicosia              551.552 564.340
    Paris                 48.942  50.077
    Zurich               200.905 205.563
    Brussels               7.958   8.143
    Frankfurt            164.146 167.951
    Helsinki              53.995  55.247
    Amsterdam            145.682 149.060
    Copenhagen            43.154  44.155
    Stockholm             35.539  36.363
    Oslo                  37.140  38.002
    Vienna                23.331  23.872
    Milan                 16.580  16.965
    Tokyo                242.375 247.995
    Madrid                 1.929   1.974
    Lisbon                 1.601   1.638
    
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