Athens News Agency: Daily News Bulletin in English, 99-03-13

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

CONTENTS

[01] G. Papandreou: Both sides remain steadfast in Kosovo impasse

[02] Parliament establishes commission of inquiry into Ocalan affair

[03] Request for fair trial

[04] Simitis meets with visiting American Jewish Commitee delegation

[05] Vassiliou on Cyprus EU accession course, Greece's EMU prospects

[06] Athens determined to deploy S-300s on Crete

[07] Papandreou denies reports of US pressure to denounce PKK

[08] NATO troops that passed through Thessaloniki to FYROM total 5,000

[09] Onassis Foundation trustees to appeal Swiss court decision

[10] Mytilene Museum to begin operation

[11] Viagra receives approval for sale

[12] Stocks surge to new high, aided by news abroad

[13] Greece to auction three-year bond on Tuesday

[14] Greece gets first mutual funds website

[15] Bond prices rise fuelled by German ascent

[16] Stet Hellas shows 7.0 profit rise in 1998

[17] Market value of investment funds rises 4.9 pct

[18] Attikat to raise share capital by Dr.10.1 bln

[19] New Bank of Piraeus shares to trade on Monday

[20] GSEE praises 35-work week at Intracom

[21] OTE opens Brussels bureau

[22] Athens Foreign Exchange

[01] G. Papandreou: Both sides remain steadfast in Kosovo impasse

Mr. Papandreou was speaking after talks with Yugoslav President Slobodan Milosevic and other leaders here yesterday.

The Greek FM ended a three-day tour of Balkan capitals to promote a Greek initiative for the strife-torn Yugoslav province of Kosovo.

Mr. Papandreou said the Albanians desired the deployment of NATO forces in the province, while Belgrade continued to refuse any deployment of foreign troops on its soil.

He added that the Yugoslav side believed that OSCE observers, maybe with an expanded composition, and Serbia's state authorities can secure implementation of a political agreement.

On the question of a Greek proposal for an inter-Balkan conference, Mr. Papandreou said Mr. Milosevic agreed with the basic principles of cooperation between Balkan countries, while with regard to the specific proposal, he said he will study all factors and views conveyed to him by the Greek minister.

Mr. Papandreou said the main target of his tour was the development of cooperation between all countries in the region, with the prospect of implementing a common target, namely, European and Euro-atlantic integration of these countries.

He said this cooperation should be based on the principles of no changes in borders, respect for the sovereignty and territorial integrity of countries in the region and respect for human and minority rights.

Mr. Papandreou said a solution in Kosovo should be achieved through peaceful and political means to allow for a new era in the future of Balkan countries.

He added that if a solution was imposed by force, there would be retrogression not only for Yugoslavia, but for the entire region.

Other meetings: - Mr. Papandreou earlier met with his Russian counterpart Igor Ivanov, who was also visiting Belgrade.

Mr. Papandreou said afterwards that the proposed Balkan conference to resolve the Kosovo crisis could pave the way for stability in the region.

"I hope there will be a positive response from the Yugoslav side for the conference, which could be held in Bucharest very soon, perhaps before resumption of the Kosovo peace talks in Rambouillet," he said.

The Greek FM also said he had an in-depth discussion with Mr. Ivanov, who he said was "positive" to Greece's initiative for a Balkan conference that would cover the overall issue of stability in the region.

"What we are asking of the international community is that it display a regional approach to the process for a Kosovo solution, because this problem concerns the stability of not only Yugoslavia but also of the wider region," Mr. Papandreou said.

Mr. Ivanov said he had discussed with Mr. Papandreou additional steps that needed to be taken for the achievement of a political agreement on Kosovo. He described the Greek proposal for a Balkan conference as "very useful" as it would "contribute to sta bility in the region".

Speaking after meeting with Deputy Prime Minister Vuk Draskovic, Mr. Papandreou stressed the need to achieve a political solution which would provide autonomy without a change of borders in the Balkans and with full respect for human and minority rights .

"This solution will be very important for Greece and all the Balkans and for this reason Greece is recommending the holding of a Balkan summit in Bucharest at which these principles can be expressed forcefully," Mr. Papandreou told reporters.

If a step in this direction were taken and a political solution found, then Yugoslavia would be able to take its place in the international community, international organisations and sanctions could be lifted, which would also be to Greece's benefit, Mr . Papandreou said.

Mr. Draskovic said a prerequisite for a "good" political solution to the problem meant that all references to a future independent Kosovo would have to be removed from the proposed peace plan.

After meeting with his Yugoslav counterpart Zivadin Jovanonic, Mr. Papandreou said that the international community supported the principles of respect for human rights and autonomy with no change to existing borders as the bases for a solution to the K osovo issue.

He said his conclusion from his three-day tour of Balkan capitals was that all the countries in the region desired a peaceful solution to the crisis.

Mr. Jovanovic said he and Mr. Papandreou talked about bilateral relations and various initiatives which could lead to closer relations between Balkan nations and to regional stability.

He briefed him on Belgrade's stance on the Kosovo issue, saying that Yugoslavia desired a peaceful and political solution which would be based on the principles of the Contact Group, the respect for equality of all ethnic communities in Kosovo and respe ct for the sovereignty and territorial integrity of Yugoslavia and Serbia.

"We ask for nothing more and nothing less than these basic principles," Mr. Jovanovic said.

He reiterated that foreign military forces in Kosovo to support the implementation of a political solution would not be acceptable.

Finally, upon returning to Athens, Mr. Papandreou expressed a hope that a commonly acceptable solution will be found to the problem, underlining that since both sides now accept 90 per cent of the agreement, "it would be a mistake, on the part of the in ternational community, to stumble in the application."

As far as a potential Greek participation in a NATO force in Kosovo, he said a necessary condition is for the agreement to be signed by both sides.

Athens News Agency

[02] Parliament establishes commission of inquiry into Ocalan affair

The commission will comprise 31 deputies and will report to Parliament by April 30.

During the afternoon discussion, PASOK rapporteur Nikos Akritidis said the government wanted to leave no shades of ambivalence regarding the true facts of the issue, and claimed that the descriptions of events in the reports by the Greek ambassador to Kenya, Giorgos Kostoulas and the three- member prosecutors' report, released Thursday, "fully vindicated the account given by former foreign minister Theodoros Pangalos, and confirmed the government's credibility." A number of ruling PASOK deputie s expressed vexation over judgements of a political nature contained in the prosecutors' report, which they claimed equate a practical show of solidarity with the Kurdish struggle with provocations against Turkey and other allies of Greece.

New Democracy rapporteur Prokopis Pavlopoulos said the government's mishandling of the affair had "completely discredited the image of the country and endangered its traditional relations with the Kurdish people." He further said the government's est ablished incompetence in handling crises was a cause for concern, and that whatever its intentions, the Kurdish issue had ended up as one more Greek-Turkish difference. He added that the prime minister "bore the greatest share of responsibility", and that the committee would have to answer a series of questions, especially whether a decision had been made for Ocalan not to enter Greece, and what measures were adopted to enforce it.

Communist Party of Greece (KKE) deputy Achilleas Kandartzis said all evidence confirmed that Ocalan had been handed over to Turkey with Greece's direct involvement, as the government had openly admitted, in the prime minister's own words that it would n ot tolerate any form of terrorism, "siding with the positions of NATO and the Americans". Coalition of the Left deputy Photis Kouvelis charged that the government's planning suffered from vacuums, where people from outside the institutional framew ork intervened, pursuing their own interests in the case.

Democratic Social Movement deputy Tassos Intzes accused the government of not having an crisis-management organ, and of not dealing with the issue in good time.

Athens News Agency

[03] Request for fair trial

Greek ambassador Loukas Tsilas, represented Justice Minister Evangelos Yiannopoulos at the council, as the latter is hospitalised due to flu.

The Council, during its Luxemburg meeting, decided that all should work together to realise the Luxemburg decisions for the Ocalan case, including a fair trial, his choice of attorneys, the presence of international obeservers and exclusion of the death penalty.

Athens News Agency

[04] Simitis meets with visiting American Jewish Commitee delegation

The 10-member delegation, headed by AJC President Bruce Ramer, later met with National Defence Minister Akis Tsohatzopoulos. "The purpose of our visit is to enhance Israel's relations with Greece," AJC executive director David Harris said, adding that t here was "room for growth".

The meeting with Mr. Tsohatzopoulos mainly focused on developments in Kosovo, Greek-Turkish relations, terrorism, as well as Greek-US and Greek- Israeli relations, while the Greek minister stressed the need for immediate solutions on terrorism and the es tablishment of a collective security framework in the region.

He also called the Jewish community in Greece an integral part of Greek society. Also present at the meeting was World Council of Hellenes Abroad (SAE) president Andrew Athens. The delegation also met yesterday with Israeli ambassador in Athens Ran Curiel.

Athens News Agency

[05] Vassiliou on Cyprus EU accession course, Greece's EMU prospects

Mr. Vassiliou cited what he called the "unacceptable and completely arrogant attitude of Turkey", particularly after Abdullah Ocalan's capture, saying it has caused indignation among the Greek Cypriots, "intensified by the indifference of western state s that follow a double-standard policy.

Athens News Agency

[06] Athens determined to deploy S-300s on Crete

Government spokesman Dimitris Reppas attributed comments from Ankara about the missiles to the pre-election period in the neighbouring country and said these comments only served to increase the tension between the two countries.

Ankara has expressed displeasure at the decision by Cypriot President Glafcos Clerides, with Athens' agreement, that led to the missile system being projected for Crete.

"It is a matter of time," Mr. Reppas said when asked if the government had changed its mind about playing host to the missile system.

According to an ANA dispatch from Nicosia, the S-300 anti-aircraft missiles will be transported to Crete in mid-1999.

Mr. Reppas said the government did not believe that a clash between Greece and Turkey was imminent and denied that US special coordinator on Cyprus Thomas Miller had suggested a summit meeting between the Greek premier and Turkish president during his talks in Athens on Thursday.

[07] Papandreou denies reports of US pressure to denounce PKK

Addressing the issue upon his return from Belgrade, Mr. Papandreou said that no such pressures were exerted by the US in public or in private. Athens News Agency Violations of Greek airspace by Turkish warplanes reported Nine formations of Turkish warplanes yesterday infringed on Athens Flight Information Region (FIR) regulations and violated Greek national airspace.

According to reports, 18 Turkish F-16s and two F-4 fighters infringed on Athens FIR regulations 11 times in the central and northern Aegean. In addition, 11 violations of national airspace over the region of the eastern Aegean island of Samos were also recorded.

All the Turkish planes were intercepted by Hellenic Air Force fighters, according to the same sources.

Athens News Agency

[08] NATO troops that passed through Thessaloniki to FYROM total 5,000

A national defence general staff spokesman said yesterday that a special bureau would be set up in Thessaloniki to provide information about the movement of NATO troops on their way to FYROM.

Meanwhile, about 50 supporters of the Communist Party of Greece (KKE) on Tuesday tried to stop a train carrying NATO tanks from Thessaloniki to FYROM.

Protesters stood on the tracks, holding up the train for one hour, before being persuaded by the police to disperse. KKE, which objects to any NATO presence in the former Yugoslavia, warned it would continue the protests.

According to figures, 5,178 soldiers, 2,292 military vehicles, 31 tanks, 253 armoured personnel carriers, 14 artillery pieces, 655 tow trucks and two helicopters had passed through Thessaloniki port and airport up to Thursday.

The troops, vehicles and weaponry were transported to Thessaloniki aboard 63 military aircraft and 12 ships. There are currently 1,355 soldiers and 394 military vehicles in Thessaloniki which are due to depart for FYROM sometime in the next few hours.

The Greek military spokesman said a German plane was scheduled to arrive in Thessaloniki later yesterday with 2,000 troops as well as German vessels carrying 400 containers of military equipment.

He added that Greece had undertaken to support the passage of the NATO troops and equipment up to the FYROM border, providing medical assistance, security and facilitations for a two-day stay of military personnel and materials in Thessaloniki.

Athens News Agency

[09] Onassis Foundation trustees to appeal Swiss court decision

The four Greek trustees made the announcement following a meeting with the Swiss auditors, who tookover the Feoundation's management on Tuesday.

Both the president of the Foundation, Stelio Papadimitriou and the Swiss auditors, said the meeting was "constructive and was conducted in a positive climate."

Athens News Agency

[10] Mytilene Museum to begin operation

The Mytilene Museum was officially inaugurated in February 1995 after almost 15 years of construction and a cost of almost 1.4 billion drachmas.

However, it lay unused since then, as it was discovered that the structure had been built without a building licence and, subsequently, could not be supplied with electricity. It took almost three years to sort out the legal complications and hook the m useum up to the power grid.

The museum's inaugural exhibition showcases a series of mosaics from the island's Roman era as well as marble sculptures, steles and other items.

Culture Minister Elizabeth Papazoi will inaugurate the exhibition.

Athens News Agency

[11] Viagra receives approval for sale

Each Viagra will cost between 2,600 and 3,800 drachmas, depending on strength.

The 25mg box will cost 10,365 drachmas, the 50mg pack 12,696 drachmas and the "heavy-duty" 100mg box 15,229 drachmas. Each box will contain four pills.

Athens News Agency

State telecom to hold new share offer

The government and the Hellenic Telecommunications Organisation (OTE) yesterday agreed that the state telecom would hold a new share offer in the second half of 1999.

The company's fourth share offer to date was endorsed at a meeting of National Economy Minister Yiannos Papantoniou, Transport Minister Tassos Mantelis, Deputy Finance Minister Nikos Christodoulakis and OTE's chairman, Vassilis Rapanos.

The company's staff will be offered incentives to participate in the share offer, sources said after the meeting.

Details of the sale are expected to be finalised in coming months. Under the law, OTE can offer a stake of up to 14 percent following the sale of 35 percent of its shares in the previous three share offers.

A change in the law would be needed to sell more than 14 percent.

Athens News Agency

[12] Stocks surge to new high, aided by news abroad

The index ended 1.90 percent up at 3,537.90 points, off the day's highs of 3,568.04, to show an 8.74 percent gain on the week. Turnover was 161.2 billion drachmas and volume 32,684,773 shares.

A record close on Wall Street on Thursday and a spectacular price jump in Frankfurt following the resignation of German finance minister Oskar Lafontain encouraged trading in domestic equities.

Renewed foreign interest was seen in domestic bonds and quality stocks including Hellenic Telecoms, Titan Cement and Panafon, helping the creation of a domestic rally.

Over the week, political uncertainty in the aftermath of the Ocalan affair receded, and news was encouraging on the economic front.

Total turnover last week was 792,433 billion drachmas to show a daily average of 158.5 billion, up from a daily average of 116.9 billion the previous week.

Sector indices mostly scored gains. Banks rose 3.21 percent, Leasing increased 3.13 percent, Insurance ended 1.14 percent up, Investment ended 2.14 percent up, Construction fell 1.35 percent, Industrials ended 0.15 percent higher, Miscellaneous rose 1.2 9 percent and Holding increased 0.97 percent.

The parallel market index for small cap companies ended 0.42 percent higher while the FTSE/ASE index ended 2.51 percent up at 2,187.38.

Broadly, advancers led decliners by 153 to 121 with another 17 issues unchanged.

Vis, Thessaliki, Eskimo and Delta Inform were the most heavily traded stocks.

A total of 30 shares hit the daily 8.0 percent limit up. Among them were Inform Lycos, Ergodata, Levenderis, Tasoglou, Lavipharm, Benroubi, Yalco and Sigalas. Remec, Epilektos, Parnassos, Athinea, Mohlos, Maxim, Ridenco, Ionian Invest and Nafpaktos Spinning Mills suffered the heaviest losses.

National Bank of Greece ended at 21,150 drachmas, Alpha Credit Bank at 38, 200, Ergobank at 24,250, Ionian Bank at 21,490, Titan Cement at 24,300, Hellenic Petroleum at 2,840, Intracom at 20,050, Minoan Lines at 7,690, Panafon at 9,250 and Hellenic Telec oms at 7,855.

Athens News Agency

[13] Greece to auction three-year bond on Tuesday

The auction is a re-opening of a bond issued on January 22, the ministry said in a statement yesterday.

The ministry said that 10-year bond yields continued to fall last week.

Their average spread with the lowest 10-year euro-zone bonds fell to 193 basis points, below the Maastricht criterion of no more than 200 basis points.

Athens News Agency

Hellenic Petroleum to build oil pipeline in FYROM

State-owned Hellenic Petroleum, which is listed on the Athens bourse, and contractors Meton and ETEP, are to build a 230-kilometre crude oil pipeline in the Former Yugoslav Republic of Macedonia.

Under an agreement in principle with FYROM's government, the pipeline will link the Greek port of Thessaloniki to Skopje, FYROM's capital.

Hellenic Petroleum and its partners will also update technology at FYROM's OKTA oil refinery according to the memorandum of understanding signed in Skope on Thursday.

The memorandum, signed by FYROM's prime minister and Hellenic Petroleum's chairman, also allows the consortium an option to become OKTA's main shareholder.

The memorandum spans projects in petroleum products, transport, construction, crude oil refining and supply terminals.

Athens News Agency

[14] Greece gets first mutual funds website

The firm, which is a member of the Ideal Group, set up the site with Creative Marketing.

Launched on March 9, the free site is located on www.mutualfunds.gr.

Athens News Agency

[15] Bond prices rise fuelled by German ascent

The new 10-year bond was trading at 102.90, showing a yield of 5.87 percent, and a previous 10-year issue at 117.0.

Electronic trade was slim at 54 billion drachmas from 118 billion drachmas in the previous session.

The drachma gained in the foreign currency market, prompting the central bank to intervene to curb its ascent through the purchase of around 80 million euros at the fix.

The euro was finally set at 321.600 drachmas.

Athens News Agency

[16] Stet Hellas shows 7.0 profit rise in 1998

Subscribers totalled 688,614 last year, marking a 76 percent rise from the previous year.

Of the total, 297,464 were buyers of Stet's card mobile phones.

Last year, Stet launched 17 new alliances with mobile phone networks abroad, bringing the total to 94 contracts with firms located in 60 countries.

In terms of domestic market share, Panafon ranks top, followed by Stet and then Cosmote.

Athens News Agency

[17] Market value of investment funds rises 4.9 pct

Their net asset value rose to 406.6 billion drachmas from 335.5 billion in the same period, an increase of 8.6 percent.

The sector's monthly share value increased between 5.8 percent and 15.7 percent in February.

Domestic equities accounted for 79 percent of the firms' portfolios in February, followed by domestic money market funds at 12.2 percent, foreign equities at 4.4 percent, domestic fixed income at 3.3 percent, foreign money market funds at 0.8 percent, a nd foreign fixed income at 0.3 percent.

Athens News Agency

[18] Attikat to raise share capital by Dr.10.1 bln

A general shareholders' meeting approved a plan to issue 4,425,000 new shares at 2,300 drachmas each.

The new shares will be offered to existing shareholders at five new to 10 old at a 40-55 percent discount.

The shares will be traded at their new price from Monday.

The company's board also announced a dividend of 100 drachmas per share.

The new capital will be used for schemes including financing the acquisition of a 10 percent stake in Mesogaia SA for 1.1 billion drachmas, increasing its equity participation in the Attica Road consortium, again 1.1 billion drachmas, a takeover of Siga las for 2.6 billion drachmas, and the purchase of new equipment.

Attikat's turnover totalled 18.9 billion drachmas in 1998, up from 9.1 billion the previous year. Its net pre-tax profits totalled three billion drachmas, up 162 percent from 1997.

Bank borrowing fell 40.3 percent last year to 1.5 billion drachmas. The company expects 1999 turnover to total 20 billion drachmas and profits 3.5 billion.

Athens News Agency

[19] New Bank of Piraeus shares to trade on Monday

The bank on Thursday secured shareholder approval for another share capital rise, again for 120 billion drachmas.

Athens News Agency

[20] GSEE praises 35-work week at Intracom

Addressing a gathering of employees, GSEE president Christos Polyzogopoulos said the company's initiative to initiate a 35-hour work week without a decrease in pay was an extremely important action.

He said it constituted a message to other businesses and the government that developments in the country, as well as in the world economy, require well-planned agreements which will promote the immediate or gradual implementation of the 35-hour work wee k.

Mr. Polyzogopoulos praised the climate prevailing in the company which secures, as he said, economic development and an increase in employment since more than 4,000 people are currently employed by the Intracom group.

Athens News Agency

[21] OTE opens Brussels bureau

An OTE official who inaugurated the new office said that it was established to "follow and inform OTE on European Union telecommunications issues and promote the organisation's public relations."

Athens News Agency

[22] Athens Foreign Exchange

Banknotes            Buying   Selling
US Dollar            291.906   298.674
Can.Dollar           191.337   195.773
Australian Dlr       185.231   189.526
Pound Sterling       477.390   488.459
Irish Punt           405.081   414.473
Pound Cyprus         550.282   563.041
Pound Malta          703.542   732.856
Turkish pound (100)    0.073     0.076
French franc          48.636    49.763
Swiss franc          199.308   203.929
Belgian franc          7.909     8.092
German Mark          163.116   166.897
Finnish Mark          53.656    54.900
Dutch Guilder        144.769   148.125
Danish Kr.            42.922    43.917
Swedish Kr.           35.960    36.794
Norwegian Kr.         37.468    38.337
Austrian Sh.          23.185    23.723
Italian lira (100)    16.476    16.858
Yen (100)            243.883   249.538
Spanish Peseta         1.918     1.962
Port. Escudo           1.591     1.628

Foreign Exchange      Buying   Selling
New York             291.906   298.674
Montreal             191.337   195.773
Sydney               185.231   189.526
London               477.390   488.459
Dublin               405.081   414.473
Nicosia              550.282   563.041
Paris                 48.636    49.763
Zurich               199.308   203.929
Brussels               7.909     8.092
Frankfurt            163.116   166.897
Helsinki              53.656    54.900
Amsterdam            144.769   148.125
Copenhagen            42.922    43.917
Stockholm             35.960    36.794
Oslo                  37.468    38.337
Vienna                23.185    23.723
Milan                 16.476    16.858
Tokyo                243.883   249.538
Madrid                 1.918     1.962
Lisbon                 1.591     1.628

Athens News Agency

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