Athens News Agency: Daily News Bulletin in English, 99-03-05

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

CONTENTS

[01] Top diplomat appointed new head of intelligence service

[02] Greece has time to cut inflation, Bear Stearns says

[03] Stocks dive on politics, shrug off economic forecasts

[04] ANEK, NEL approve strategic deal

[05] Marfin to take stake in Spyrou Farming Company

[06] Delta Dairy to become holding company

[07] Avax reports 11 pct profit rise in 1998

[08] EU, China sign energy promotion pact

[09] Drys: Gov't will reduce taxes in '99

[10] Draft agreement between Thessaloniki prefecture, Lithuania's Kaunas region

[11] Land registry progress cited

[12] CEDEFOP presentation to northern Greece businesses

[13] Athens Foreign Exchange

[14] G.Papandreou briefs Karamanlis on Ocalan affair,Kosovo

[15] Kranidiotis: Lifting of protocol veto will be considered if guarantees given

[16] 'Temporary delay' cited in US weapons sales to Greece

[17] Turkish warplanes violate Athens FIR

[18] US reportedly requests 'lower tones' by Greece, Turkey

[19] British MPs O'Hara, Cox honoured by Greece

[20] Greek antiquities again exhibited at Met

[21] Border alert for possible radioactive cargo

[01] Top diplomat appointed new head of intelligence service

Athens, 05/03/1999 (ANA)

Pavlos Apostolidis replaces Haralambos Stavrakakis, who was recently asked to resign in the wake of the Ocalan affair. His appointment was announced by Interior Minister Vasso Papandreou following a Government Council for Foreign Affairs and Defence (KY SEA) meeting.

Ms Papandreou said her proposals regarding the new director of the National Information Service (EYP) and a new framework of operation of EYP had been unanimously accepted by KYSEA.

"I hope in the next few days to inform political party leaders about EYP's new operating framework," she said.

Along with Mr. Stavrakakis, three prominent ministers were also sacked following the capture in Kenya and transfer to Turkey of Kurdish rebel leader Abdullah Ocalan.

The PKK leader had been staying at the Greek ambassador's residence in Nairobi.

Athens News Agency

[02] Greece has time to cut inflation, Bear Stearns says

Athens, 05/03/1999 (ANA)

The US investment firm noted in the report carried by Reuters: "Where there is political will, there is a way".

Bear Stearns was confident that Greece, which had come a long way towards convergence, would not face any problems meeting the Maastricht criteria for entry into the euro zone in the next two years.

The report underlined that even if performance was less than expected, "the European Union is highly unlikely to block Greece's participation in EMU in January 2001" because of a major improvement in the country's economy.

Gov't insists on 'euro zone' entry according to schedule : Government spokesman Dimitris Reppas stressed yesterday that Greece would join the "euro zone" according to the scheduled timetable, dismissing speculation about a review of relevant Maastricht Treaty criteria. He said Greece had not raised an issue of more flexible criteria for EMU entry, but added that there were now more general concerns as some parametres had changed.

Athens News Agency

[03] Stocks dive on politics, shrug off economic forecasts

Athens, 05/03/1999 (ANA)

Traders said market sentiment has been damaged by tension in Greek-Turkish relations.

Largely ignored by the market were the prime minister's optimistic predictions on the future of the economy and the central bank governor's estimates of 2.0 percent inflation in June or soon after.

The general index ended 108.37 points, or 3.24 percent off, at 3,232.02 points. Turnover was 126.5 billion drachmas and volume 27,263,448 shares.

Sector indices suffered losses.

Banks fell 3.12 percent, Leasing dropped 3.56 percent, Insurance eased 1.84 percent, Investment ended 3.42 percent off, Construction plunged 5.48 percent, Industrials fell 3.20 percent, Miscellaneous ended 3.73 percent down and Holding dropped 4.58 perc ent.

The parallel market index for small cap companies ended 2.0 percent off, while the FTSE/ASE 20 index dropped 3.32 percent to 1,994.90.

Buying activity focused on 20 stocks, mainly textiles, which ended sharply higher, hitting the daily 8.0 percent limit up.

Among them were Gnomon, Daring, Levenderis, Alysida, Zampa, Benroubi, Doudos and Klonatex.

A total of 23 shares hit the daily 8.0 percent limit down including Delta Dairy, Aegek, Atemke, Vioter, Proodeftiki, Metka, Nematemboriki, Diekat and Mevaco.

Broadly, decliners led advancers by 242 to 50 with only two issues unchanged. Thessaliki, Mytilineos, Hellenic Telecoms and Strintzis were the most heavily traded stocks. National Bank of Greece ended at 19,895 drachmas, Alpha Credit Bank at 32,500, Ergobank at 22,250, Ionian Bank at 17,975, Titan Cement at 21,750, Hellenic Petroleum at 2,420, Intracom at 19, 600, Minoan Lines at 7,470, Panafon at 8,610 and Hellenic Telecoms at 7, 195.

Bond prices slump, yield steady with bunds : Bond prices in the domestic market for 10- and 15-year paper slumped 100-115 basis points yesterday largely due to sales by investors abroad but yields held steady with German bunds as the two kept pace, traders said. Electronic trade was 117 billion dr achmas.

The latest 10-year bonds were trading at 100.30 with yield at 6.26 percent, and 15-year paper at 101.30 with yield of 6.36 percent.

The foreign currency market was unscathed by negative sentiment, and bond sales were not accompanied by a demand for foreign currency, and therefore outflows.The euro was flat versus the drachma. It was set at 321.900 drachmas at the central bank's dai ly fix from 321.660 in the previous session.

The dollar was stronger, ending at 296.530 drachmas at the fix from 294.590 a day earlier.

Rates were soft in the interbank market in high liquidity.

Athens News Agency

[04] ANEK, NEL approve strategic deal

Athens, 05/03/1999 (ANA)

NEL's board approved ANEK's bid to buy a stake of up to four billion drachmas in the firm's anticipated share capital increase by 10-17 billion drachmas. NEL's shareholders will be asked to endorse the scheme.

The two companies' boards also agreed to cooperate in a series of strategic plans that will be announced when the details are finalised.

Athens News Agency

[05] Marfin to take stake in Spyrou Farming Company

Athens, 05/03/1999 (ANA)

Spyrou forecast sales of 9.0 billion drachmas in 1999, up 26 percent, and profits of 2.4 billion drachmas, marking a 33 percent rise.

Athens News Agency

[06] Delta Dairy to become holding company

Athens, 05/03/1999 (ANA)

General Foods (Uncle Stathis) along with the above firms will form the basis of the company.

Delta's strategic partner, Danone, is to retain its 20 percent holding.

The Greek company's managing director, Dimitris Daskalopoulos, told a news conference that creating a holding company would allow more flexibility to handle new business.

The Delta Group's consolidated profits were 4.0 billion drachmas in 1998 on turnover of 110 billion drachmas. Investments in the same year totalled 16 billion drachmas.

Athens News Agency

[07] Avax reports 11 pct profit rise in 1998

Athens, 05/03/1999 (ANA)

Turnover was 10.8 billion drachmas from 10.1 billion in 1997, up 7.0 percent, the company said in a statement.

Shareholders' equity was 9.7 billion drachmas from 8.9 billion a year earlier, up 9.0 percent.

Athens News Agency

[08] EU, China sign energy promotion pact

BRUSSELS, 05/03/1999 (ANA-P. Pantelis)

Covered in the statement are cooperation on institutional, political, scientific, technological, commercial and industrial levels.

Greece's energy commissioner, Christos Papoutsis, signed for the 15-nation bloc.

Athens News Agency

[09] Drys: Gov't will reduce taxes in '99

Athens, 05/03/1999 (ANA)

Mr. Drys, speaking in Irakleio, Crete, also noted a modernisation of customs services on the island, as well as a more prompt provision of services to citizens.

He also announced the induction of the island's custom services to the "ISS" network by October and of the tax offices on Crete into the "TAXIS" programme by May.

Athens News Agency

[10] Draft agreement between Thessaloniki prefecture, Lithuania's Kaunas region

Athens, 05/03/1999 (ANA)

The agreement anticipates inter-regional cooperation and the development of economic, cultural and social relations, as well as facilitating businesses from the two regions.

Representatives of the two delegations agreed to extend cooperation to other sectors as well.

Athens News Agency

[11] Land registry progress cited

Athens, 05/03/1999 (ANA)

Owners of the 276 municipalities included in the second programme have a period of three months to submit statements, while people living abroad have six months.

Greece is the only country in the European Union without even a partial national land registry in place.

Athens News Agency

[12] CEDEFOP presentation to northern Greece businesses

Athens, 05/03/1999 (ANA)

Mr. van Rens was speaking at a press conference on the occasion of the presentation of CEDEFOP's activities for 1999.

Mr. van Rens let it be understood that entrepreneurs contacting CEDEFOP are primarily interested in the financing possibilities and not the Centre's products which, as he said, are many and interesting.

He also called on local administration to exploit the Centre's activity more.

Replying to questions on the situation prevailing in Greece, he said his assessment is that general education is improving, but vocational training is not to the same degree.

Referring to the local labour market, he said that there is a large percentage of self-employed, in the sector of small and medium-size businesses and emphasis must be placed on these ages of working people, while his assessment for them is that they ca n also survive in the future. He said Greece is an aging country since life expectancy is increasing and for this reason particular attention must be paid to age brackets already in the labour market for their further vocational preparation and training.

Athens News Agency

[13] Athens Foreign Exchange

Athens, 05/03/1999 (ANA)

Parities in Drachmas

Banknotes            Buying  Selling
US Dollar            294.158 300.978
Can.Dollar           192.627 197.093
Australian Dlr       182.310 186.537
Pound Sterling       473.839 484.825
Irish Punt           405.459 414.860
Pound Cyprus         549.568 562.310
Pound Malta          712.374 742.056
Turkish pound (100)    0.071   0.074
French franc          48.680  49.809
Swiss franc          201.009 205.669
Belgian franc          7.916   8.099
German Mark          163.268 167.054
Finnish Mark          53.707  54.952
Dutch Guilder        144.903 148.263
Danish Kr.            42.954  43.949
Swedish Kr.           35.654  36.481
Norwegian Kr.         37.071  37.931
Austrian Sh.          23.206  23.744
Italian lira (100)    16.492  16.874
Yen (100)            239.062 244.605
Spanish Peseta         1.920   1.964
Port. Escudo           1.593   1.630

Foreign Exchange     Buying  Selling
New York             294.158 300.978
Montreal             192.627 197.093
Sydney               182.310 186.537
London               473.839 484.825
Dublin               405.459 414.860
Nicosia              549.568 562.310
Paris                 48.680  49.809
Zurich               201.009 205.669
Brussels               7.916   8.099
Frankfurt            163.268 167.054
Helsinki              53.707  54.952
Amsterdam            144.903 148.263
Copenhagen            42.954  43.949
Stockholm             35.654  36.481
Oslo                  37.071  37.931
Vienna                23.206  23.744
Milan                 16.492  16.874
Tokyo                239.062 244.605
Madrid                 1.920   1.964
Lisbon                 1.593   1.630

Athens News Agency

[14] G.Papandreou briefs Karamanlis on Ocalan affair,Kosovo

Athens, 05/03/1999 (ANA)

After the meeting, Mr. Karamanlis said questions still remained regarding the circumstances surrounding the capture of Kurdistan Workers Party (PKK) leader Abdullah Ocalan in Kenya, stressing that the government had an obligation to give political party leaders a copy of a report on the affair by Greece's ambassador to Nairobi, Georgios Costoulas.

Mr. Karamanlis reiterated ND's call for the establishment of a "national council on foreign policy" to formulate a responsible national policy. He underlined that Prime Minister Costas Simitis should reconsider his refusal in this respect. Mr. Papandreou said he had also briefed Mr. Karamanlis on developments in Greek-Turkish relations, while saying that the Kurdish issue was not a Greek-Turkish problem.

He added that he had briefed the main opposition leader in general on positions of the Greek government concerning issues which will be raised in view also of the ND leader's forthcoming visit to the United States.

Earlier this week, Mr. Papandreou met with Coalition of the Left leader Nikos Constantopoulos, Democratic Social Movement president Dimitris Tsovolas, honorary ND president Constantine Mitsotakis and the chairman of Parliament's foreign affairs committee and former foreign minister Karolos Papoulias.

Mr. Papandreou said on Tuesday that his aim was "to allow the participation of the political parties and continuously inform them within a framework of consensus in order to formulate a common strategy on a number of issues which cover the entire spectr um of Greek foreign policy".

The ultimate objective, he said, is to strengthen Greece's position internationally.

After his talks yesterday with Mr. Karamanlis, Mr. Papandreou said he had noted a desire for inter-party cooperation.

"Just how this cooperation is realised is another matter," he said, expressing however his belief that it was already being achieved by virtue of the meetings he was having with political party leaders.

"We can find ways of (attaining) inter-party cooperation," Mr. Papandreou said.

The foreign minister said Greece's reply to Turkey's efforts to create tension was "our national concord".

"Turkey is looking for scapegoats for its own domestic problems. Greece is a democratic country which allows Kurdish organisations to operate. But it does not permit terrorism. Greece has repeatedly condemned terrorism. Turkey's accusations will fall on deaf ears and its propaganda will not bear fruit," Mr. Papandreou said.

Greece will launch a campaign to inform not only diplomatic authorities but also international public opinion, he said, which will highlight respect for human rights while at the same time showing that Turkey's European orientation depends on its mainta ining relations befitting good neighbours, respecting the rules of international law and helping to resolve the Cyprus problem.

Mr. Papandreou later met with Political Spring leader Antonis Samaras, who said afterwards that if a proposal made by his party in the past concerning the setting up of a National Security Council had been accepted, the negative developments following the government's handling of the Ocalan affair would have been averted.

Athens News Agency

[15] Kranidiotis: Lifting of protocol veto will be considered if guarantees given

BRUSSELS, 05/03/1999 (ANA - M. Spinthourakis)

"Greece is prepared to examine the lifting of its veto on the financial protocol concerning Customs Union with Turkey and will undertake an initiative for strengthening Common Foreign Policy and Security Policy (CFPSP), Greece's new European Affairs Minister Yiannos Kranidiotis told the 'Europe', also calling on the Union to undertake an initiative concerning Cyprus," the report reads.

Setting out Mr. Kranidiotis' views on a series of issues, the report went on to say:

"Financial Protocol. 'Greece is prepared to negotiate its veto provided it receives certain guarantees that it will receive something in exchange either from Turkey, or if this is not possible, from the Union partners,' Mr. Kranidiotis said and referred to two possibilities: a) Turkey accepts reference of the continental shelf issue and of disputed islets to the International Court at The Hague: Then 'we could reconsider our position,' he said, b) 'if this is not possible', Greece could also reconsider its position 'if the EU offers it certain guarantees.' In other words if the EU undertakes 'political commitments which guarantee and support the Greek position on the Aegean'."

On the question of Kurdish leader Abdullah Ocalan, "Europe is the victim of the absence of CFPSP" because "the Kurdish problem is ultimately a European one." According to Mr. Kranidiotis the EU "should have reacted" and should still do so because "the Kurdish problem remains open."

Regarding Cyprus and starting from the principle that the Amsterdam Treaty allows the EU to undertake humanitarian initiatives as from now as well as for the preservation of peace, Mr. Kranidiotis said "Europe could think of the implementation of Peters berg missions in the case of Cyprus. Why shouldn't it start to work on certain measures which will aim at building confidence between the two communities."

Mr. Kranidiotis further said that "Europe can play a role to contribute to disarmament and to the demilitarisation of the island."

Athens News Agency

[16] 'Temporary delay' cited in US weapons sales to Greece

WASHINGTON, 05/03/1999 (ANA - T. Ellis)

Called on to comment on the course of this investigation, Ken Bacon said an in-depth investigation was conducted with absolute cooperation by the Greek government, while initial information appears to be very positive, but consultations are continuing w ithin the government, as well as with US Congress.

"The relationship between Greece and the US is very strong," Mr. Bacon said, pointing to the recent signing in Athens of a contract for the purchase by Greece of the "Patriot" missile system, valued at US$1.4 billion. "This agreement would not have been signed unless there was a strong relationship of trust between the US and Greece," Mr. Bacon said.

Athens News Agency

[17] Turkish warplanes violate Athens FIR

Athens, 05/03/1999 (ANA)

Government spokesman Dimitris Reppas said the infringements took place on Wednesday, while Athens would react through diplomatic channels.

He declined, however, to specify when the government would respond, saying "substantiation requires a certain amount of time."

Defence ministry sources attached no particular significance to Wednesday's FIR infringements by a small number of Turkish warplanes.

The same sources clarified that no violations of Greek airspace were reported.

However yesterday, according to sources, six Turkish F-16 warplanes again infringed on Athens FIR regulations and violated Greek national airspace over the eastern Aegean islands of Kos, Hios and Samos.

The Turkish warplanes were intercepted by Hellenic Air Force fighters, according to the same sources.

Athens News Agency

[18] US reportedly requests 'lower tones' by Greece, Turkey

Athens, 05/03/1999 (ANA)

Charge d' affaires Terry Snell met with the Greek foreign ministry's secretary general Pavlos Apostolidis.

According to diplomatic sources, the US ambassador to Turkey handed a similar demarche to Ankara.

Mr. Snell, who is acting ambassador to Greece in light of US ambassador Nicholas Burns' absence in the United States, initially requested to be received by Foreign Minister George Papandreou, according to the same sources.

Athens News Agency

[19] British MPs O'Hara, Cox honoured by Greece

LONDON, 05/03/1999 (ANA)

The decorations were given to the two MPs in recognition of their considerable contribution to the further promotion of the "very good relations between the two countries and peoples, their substantive contribution within the framework of the British Pa rliament to issues of principles concerning Greece and Cyprus, as well as the promotion of Greek cultural heritage."

Eddy O'Hara is a Labour Party deputy, who speaks fluent Greek and is president of the inter-party Greek-British friendship parliamentary committee. Tom Cox is also a Labour Party deputy, a member of the aforesaid committee and president of the Britain-Cyprus group and the Commonwealth Parliamentary Federation.

Referring to the Cyprus issue, Mr. Cox spoke of a complete and crude violation, as he said, of the Greek Cypriots' human rights by the Turks.

He also referred to the intense effort being carried out by many for the return of the Parthenon Marbles to Athens, stressing that British Culture Minister Chris Smith has agreed to meet with a group of British deputies to discuss the issue of the ancient friezes at a date to be set in the future.

Athens News Agency

[20] Greek antiquities again exhibited at Met

Athens, 05/03/1999 (ANA)

The 6,000-square-metre exhibition space will include antiquities from several eras, Philip de Montebelo said, while speaking in a central Athens hotel.

He added that the US$8 million spent for renovations was donated by the Kostopoulos family.

Athens News Agency

[21] Border alert for possible radioactive cargo

Athens, 05/03/1999 (ANA)

An alert was in force at the Krystallopighi border post as of Wednesday for a cargo expected to pass through Greece for an undetermined destination, border post director Georgios Amartzidis said.

The cargo of radioactive cobalt was said to originate in Former Yuoslav Republic of Macedonia (FYROM), the source said, adding that the radioactive material was expected to be covered with steel to avoid leaks and its detection.

Mr. Amartzidis said he had alerted the relevant finance ministry directorate, which has ordered inspections of all trucks passing through the border post. The radioactive cobalt is believed to be waste from hospitals or research institutes.

"We're talking about the so-called cobalt bombs used by hospitals in treating cancer or waste from research institutes, possibly originating from countries in northern Europe and smuggled into FYROM, or even Greece, for burial or use in iron industries, " a nuclear physics professor at Thessaloniki's Aristotelion University, Costas Papastephanou, told ANA.

Prof. Papastephanou warned that radioactive cobalt was highly hazardous to the environment and health if the internationally established scientific guidelines for its destruction or burial were not adhered to.

Athens News Agency

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