Athens News Agency: Daily News Bulletin in English, 99-04-02

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

CONTENTS

[01] Greek,Romanian defence ministers: Kosovo crisis must be solved through political means

[02] Greece backs Bonn proposal for conference on Balkan problems

[03] Gov't: No chance of Greek troops participating in NATO operations in Kosovo

[04] Plane loaded with Greek aid lands in FYROM

[05] November 17 believed behind attack on PASOK headquarters

[06] Simitis' talks with Panamian leader Perez Balladares

[07] AEK football team scheduled 'solidarity' match in Belgrade

[08] US marine platoon proceeds to Thessaloniki airport

[09] Clinton's bimonthly report on Cyprus

[10] Stocks plunge 7.55 pct on Kosovo woes

[11] Alpha Credit Bank to integrate Ionian by spring 2000

[12] Greek tourism unscathed by Yugoslav crisis, minister says

[13] OTE Leasing to seek bourse entry by October

[14] AGET Heracles preparing for YK2

[15] Intracom participation at German exhibition

[16] Stalemate between bank employee unions, managements

[17] Athens Foreign Exchange

[01] Greek,Romanian defence ministers: Kosovo crisis must be solved through political means

BUCHAREST, 02/04/1999 (ANA - S. Liarellis)

"No change in existing borders in Yugoslavia and, more generally, Balkan countries is acceptable in the name of autonomy or the protection of the rights of minorities," Defence Minister Akis Tsohatzopoulos said after talks with his Romanian counterpart, Victor Babiuc.

Mr. Tsohatzopoulos arrived in the Romanian capital yesterday. He is expected to travel to Sofia and Skopje today.

The protection of human rights and the autonomy of Kosovo is compatible within the existing borders of Yugoslavia, the Greek minister added.

Romania, Mr. Babiuc said, "was treating the NATO intervention as a means and not an end in itself."

NATO has intervened "to force Milosevic to the negotiating table," he said, adding: "The operations will continue until Milosevic changes stance."

Mr. Tsohatzopoulos added that the killing and uprooting of Kosovo's Albanians had to stop.

"The developments in Kosovo are of concern to the peace, stability and security of the Balkans and so are an issue for all the countries of the region," Mr. Tsohatzopoulos said.

He reiterated Athens' position that Greece, as a neighbouring country, could not participate directly in the offensive because this would be a destabilising factor.

Referring to Moscow's intention to send a Russian reconnaissance vessel to the Mediterranean, the Greek defence minister was apprehensive.

"In times of crisis, the advent of even more and greater forces in the region only serves to increase tension," he said.

"For the time being, it is good to believe the leaders of Russia that their country is not about to become involved in the region's crisis," Mr. Babiuc added.

Mr. Tsohatzopoulos said Greece would broach the issue of NATO's expansion at the forthcoming Washington summit in April, although he said there was no expectation of a decision.

Greece hopes that prospective candidates for NATO membership, such as Romania, will be formally acknowledged.

Mr. Tsohatzopoulos later met with acting Prime Minister and Justice Minister Victor Stoika.

Earlier, he held talks with Deputy Foreign Minister Zafirescu in the absence of Foreign Minister Andrei Gabriel Plesu, who was in Germany.

Mr. Tsohatzopoulos met afterwards with representatives of the Greek Union of Romania. Later in the day, he was due to attend a dinner given in his honour by his Romanian counterpart Victor Babiuc.

Mr. Tsohatzopoulos will visit Sofia this morning for talks with his Bulgarian counterpart Georgi Ananiev, Foreign Minister Nadezda Mihailova and Prime Minister Ivan Kostov.

In the afternoon, he will be in the Former Yugoslav Republic of Macedonia (FYROM) for talks with President Kiro Gligorov, Prime Minister Ljupco Georgievski, Foreign Minister Alexander Dimitrov and Defence Minister Nikola Klusev.

Athens News Agency

[02] Greece backs Bonn proposal for conference on Balkan problems

BONN, 02/04/1999 (ANA)

"We welcome the proposal of the German (EU) presidency for a solution to the broader problem in the Balkans. It is an issue which Greece has raised for some time," said Foreign Minister George Papandreou after the end of an international meeting on the provision of aid to refugees from Kosovo.

"It is a comprehensive strategy and a programme which sets rules and relationshi ps securing the peaceful coexistence such as, for instance, respect for borders, and establishing basic terms for democratisation in everyday life, such as respect for human rights. It provides for significant economic aid -a 'mini Marshal Plan' if you like - for the prosperity of the peoples in the area," he added.

He stressed Greece's active interest in the promotion of a solution to problems in the Balkans.

"We had the opportunity to refer to Greece's activity on the problem of refugees, economic aid, and the creation of organisational centres in Ioannina and Thessaloniki. We stressed the political repercussions which the war has in the area, as well as the special problem with the Greek minority in Albania. We want an active presence of Europe in the area. We want Europe to show its humanitarian face. All countries in the region have reservations regarding the bombings, not just us," the Greek foreign minister said. Mr. Papandreou had a series of bilateral meetings with his counterparts of Germany, Albania, FYROM and Bulgaria.

The conference was attended by representatives of nine countries bordering on Yugoslavia, the European Union, the United Nations and the OSCE.

Mr. Papandreou, who visited Tirana on Wednesday while accompanying humanitarian aid from Athens, told reporters before his departure that Greece had "vital interests in the region" and wanted to see full coordination of action so as to enable the best possible treatment of the humanitarian problem.

Talks with Slovakia's Hamzik : Mr. Papandreou yesterday reiterated the need for a viable and peaceful solution in Kosovo, after talks with Pavel Hamzik, the visiting vice-president of the Slovakian government, and shortly before his departure for Bonn.

Replying to questions on possible NATO ground operations in Yugoslavia, Mr. Papandreou said there had been no formal discussion on such an eventuality to date.

Mr. Hamzik said the prospect existed for a diplomatic solution to the Kosovo problem, stressing the need for the European Union to cement its political presence in the future through the strengthening of common foreign and security policy.

He said he discussed with Mr. Papandreou the crisis in Yugoslavia as well as EU issues such as enlargement, employment and the "Agenda 2000", and thanked him for Greece's support of Slovakia's bid to join the EU.

Athens News Agency

[03] Gov't: No chance of Greek troops participating in NATO operations in Kosovo

Athens, 02/04/1999 (ANA)

Mr. Reppas added that "other European governments also do not want their troops to take part in ground operations in Yugoslavia".

He reiterated that Greece would not allow any NATO troops heading for Yugoslavia to pass through Greek territory, nor would it allow Turkish warplanes to use Greek air space.

Over the past month, some 10,000 NATO troops have used the port and aiport of Thessaloniki in northern Greece to go to the Former Yugoslav Republic of Macedonia (FYROM) where they have been deployed in order to be ready to help enforce any peace agreeme nt reached on Kosovo.

Commenting on the German government's rejection on Wednesday of a proposal put forward by Greek Foreign Minister George Papandreou for the suspension of NATO air strikes against Yugoslavia on the Catholic and Orthodox Easter Sundays on April 4 and 11 re spectively, Mr. Reppas expressed Athens' regret, saying:

"The position adopted by friends and partners to a proposal motivated by humanitarian considerations was negative, and they could have accepted a suspension of the bombing."

German Foreign Minister Joschka Fischer told a joint news conference with Defence Minister Rudolf Scharping in Bonn on Wednesday that acceptance of Mr. Papandreou's proposal would be tantamount to granting permission to Yugoslav President Slobodan Milosevic to continue "ethnic cleansing operations in Kosovo at Easter and this would be inconceivable".

Athens News Agency

[04] Plane loaded with Greek aid lands in FYROM

Athens, 02/04/1999 (ANA)

The aid, for refugees arriving from war-torn Kosovo, includes 20 tents, 4.5 tons of foodstuff and five tons of pharaceutical supplies. Greece began sending shipments of humanitarian assistance to the Former Yugoslav Republic of Macedonia (FYROM) earlier this week.

A second C-130 took off for Tirana yesterday with 80 tents and an ambulance.

In addition, 50 trucks with supplies departed for Albania yesterday and a further 500 could be ready to leave within the next few days.

While in Skopje, Mr. Kranidiotis and Mr. Floridis will have talks with FYROM officials.

Athens News Agency

[05] November 17 believed behind attack on PASOK headquarters

Athens, 02/04/1999 (ANA)

They said a large explosion was heard at 10 minutes before midnight, as police who arrived on the sence found a home-made plastic rocket launcher with two alarm clocks and a 12-volt battery attached to it set up on the wall of an outdoor parking lot behind the building housing the PASOK headquarters in the central Athens district of Exarchia.

The rocket struck the first-floor wall of the offices but did not explode and fell onto the balcony of the building next-door.

Police said the 2.36-inch rocket was one of a cache of anti-tank rockets stolen by November 17 from the Sikourio army depot near Larissa in 1989. The group has used the rockets in a number of attacks against Greek and foreign targets in Athens.

PASOK Secretary Costas Skandalidis, who arrived on the spot shortly after the attack, said only security personnel were in the building at the time, and they were on the ground floor.

In its last attack, "November 17" launched a similar rocket in April 1998 against a CitiBank branch in Athens' residential district of Kypseli. In that attack the rocket made a whole in the wall but did not explode.

Athens News Agency

[06] Simitis' talks with Panamian leader Perez Balladares

Athens, 02/04/1999 (ANA)

Speaking to reporters after the talks, Mr. Simitis said although the two countries may be geographically distant, they had contacts on many levels regarding issues of common interest, such as shipping and culture.

Mr. Simitis expressed a hope that bilateralties would further broadened.

President Balladares, whose country takes over the administration of the Panama Canal on Jan. 1, 2000, told the Greek premier that Panama was determined to provide services of an impeccable standard to users of the waterway.

He also gave the assurance that Canal dues paid by vessels passing through the waterway would not increase in the slightest and would remain at present levels.

Athens News Agency

[07] AEK football team scheduled 'solidarity' match in Belgrade

Athens, 02/04/1999 (ANA)

"We hope that our initiative will prove that football can help the cause of peace in the Balkans," said AEK head Dimitris Melissanidis.

A Yugoslav government statement stressed that "the Serbian people are greatly looking forward to hosting of our Greek brothers in Belgrade..."

Both teams are contenders in their respective national leagues, have large and fanatical followings and frequently participate in European competitions.

The game will be televised live in Greece and to other countries in Europe, while several channels are reported to have expressed interest.

Yugoslavia's ambassador to Athens, Dragomir Vucicevic, is scheduled to meet with AEK officials today.

Athens News Agency

[08] US marine platoon proceeds to Thessaloniki airport

Athens, 02/04/1999 (ANA)

Sources said the group was part of a marine force charged with protecting the US embassy in Skopje, site of recent vehement anti-NATO demonstrations last week by outraged demonstrators.

The force is expected to be made up of 120 marines in total, although the figure may increase.

In addition, 37 German "Leopard 2" tanks were unloaded Wednesday night at the port of Thessaloniki.

Athens News Agency

[09] Clinton's bimonthly report on Cyprus

WASHINGTON, 02/04/1999 (ANA/CNA)

In his bimonthly report on progress towards a negotiated settlement of the Cyprus problem, he submitted to Congress, and which covers the period between December 1, 1998 and January 31, 1999, Mr. Clinton also praises President Glafcos Clerides for his decision not to deploy Russian defensive system S-300 on the island.

"The US remains deeply committed to finding a viable solution to the Cyprus problem", Mr. Clinton says and describes US Security Council Resolution 1218 as a significant development, pointing out that "the UN remained active during the reporting period in the effort to resolve the Cyprus dispute".

The American president futhermore praises the decision of President Clerides not to deploy the S-300 missiles on the island as "an important step towards easing tensions on Cyprus".

He emphasises that "this positive and welcome decision gave important new impetus to efforts to reduce tensions and promote a just and lasting settlement of the Cyprus dispute".

Athens News Agency

[10] Stocks plunge 7.55 pct on Kosovo woes

Athens, 02/04/1999 (ANA)

The general index nosedived 7.55 percent to end at 3,121.39 points, successively breaking support at 3,300 and 3,200 points to close at its lowest levels since January.

The index has lost 17.30 percent since the start of NATO air strikes against Yugoslavia.

Traders said the market had shrugged off positive economic fundamentals and corporate news that in different circumstances could have elevated the index to 4,000 points.

More than 200 shares hit the daily 8.0 percent limit down, and only a handful managed to show gains.

Among the losers were Attica Bank, Dorian Bank, Commercial Bank, Ergobank, Ionian Bank, Piraeus Bank, Xiosbank, Hellenic Telecoms, Panafon, Intracom, Titan Cement, Heracles Cement, Hellenic Bottling and Aluminium de Grece.

Sector indices suffered heavy losses.

Banks plunged 7.68 percent, Leasing fell 5.55 percent, Insurance dived 6.79 percent, Investment ended 7.57 percent off, Construction slid 8.0 percent, Industrials ended 7.53 percent down, Miscellaneous ended 6.88 percent off and Holding fell 6.12 percent.

The parallel market index for small cap companies ended 7.94 percent lower.

Broadly, decliners led advancers by 277 to 9.

Turnover was 135.07 billion drachmas and volume 21,357,232 shares.

The FTSE/ASE 20 index ended 7.63 percent off at 1,934.16 points.

National Bank of Greece, Thessaliki, Chipita and Alpha Credit Bank were them most active stocks. Tasoglou, Orion, Desmos, AB Vassilopoulos, Boutaris, ETVA Leasing, Kekrops, Pavlides and Chipita scored gains. National Bank ended at 18,990 drachmas, Alpha Credit Bank at 18,500, Ergobank at 20,792, Ionian Bank at 20,060, Titan Cement at 21,160, Hellenic Petroleum at 2,200, Intracom at 16,192, Minoan Lines at 6,585, Panafon at 7, 222 and Hellenic Telecoms at 6,749.

Bond players on sidelines due to Kosovo : Bond prices were flat or slightly up yesterday as players in the secondary market kept to the sidelines, waiting to see how long NATO airstrikes in Yugoslavia will last.

The new 10-year bond was at 102.90, showing a yield of 5.91 percent. The yield spread between domestic paper and Germany bunds was around 1.90 percent.

Electronic trade totalled 34 billion drachmas from 53 billion drachmas in the previous session.

In the foreign currency market, the drachma retreated but no outflows were reported and demand for euros was met by commercial banks.

The central bank stepped in with a minor intervention, selling around 12 million euros.

At the central bank's daily fix, the euro ended at 326.900 drachmas from 325.950 drachmas in the previous session.

Athens News Agency

[11] Alpha Credit Bank to integrate Ionian by spring 2000

Athens, 02/04/1999 (ANA)

Alpha won a tender this week for the privatisation of a 51 percent stake in Ionian, and has expressed interest in buying the remaining 49 percent. Its bid was 272 billion drachmas.

The incorporation of Ionian into the Alpha group will take the form of an exchange of shares, taking factors into account including Ionian's market value and its sale price in the tender, Mr. Kostopoulos told a news conference.

In addition, Ionian's subsidiaries will gradually merge into their equivalents in the Alpha group.

Alpha will pay special attention to Ionian Hotels, which operates the Athens Hilton and Rhodes Imperial. Capital is to be tapped from the Athens Stock Exchange to fund major investments, Mr. Kostopoulos said.

He added that no staff at the newly acquired bank would lose their jobs, and market research would show how best to utilise the trademark of Ionian, the country's oldest commercial bank.

Mr. Kostopoulos also denied talk that Alpha Credit Bank and EFG Eurobank of the Latsis Group had any plans in the pipeline for a strategic alliance involving Ionian or any other projects.

"There is no such agreement, and there never was. Each of the two groups has its own plans," he said.

Alpha Credit Bank is to hold a shareholders meeting in April to vote on a 120 billion drachmas share capital rise in order to keep its capital adequacy ratio high, which means above 10 percent.

Ionian's new board is to comprise senior executives from Alpha Credit Bank and its group.

Alpha Credit Bank's pre-tax profits in the first quarter were 55 billion drachmas.

Following its acquisition of Ionian, Alpha Credit Bank is now the second largest bank in Greece after state-run National Bank of Greece, and among the 80 largest in Europe.

Athens News Agency

[12] Greek tourism unscathed by Yugoslav crisis, minister says

Athens, 02/04/1999 (ANA)

He dismissed talk that domestic tourism was facing problems because of the crisis in the region.

"We are hoping for the best but neverthless preparing for the worst," said Mr. Venizelos, whose ministry handles tourism.

He reiterated that the outlook for tourism was very favourable this year and urged businessmen and the media to promote a climate of optimism and stability.

Mr. Venizelos acknowledged, however, that tourists from remote countries like the US and Japan - who usually consider Europe as a single travel destination - could be deterred by a prolonged crisis in Kosovo.

Turning to casinos, he indicated that the government was examining ways of reducing the number of licences issued as gambling was causing social problems.

The minister added that casinos would gradually come under the jurisdiction of the finance ministry although the Greek National Tourism Organisation would retain control on revenue in order to help fund tourism.

In cases involving individual casinos, Mr. Venizelos said the government would re-examine a licence for a casino in Florina, northern Greece, following protests by residents.

The casino in Syros was not causing any problems although turnover was low, and the government had not yet reached a decision on the privatisation of the Mont Parnes casino near Athens.

The casino in Rhodes was expected to open in coming days, while the government was considering revoking a licence for the Porto Carras casino in Halkidiki, northern Greece.

Athens News Agency

[13] OTE Leasing to seek bourse entry by October

Athens, 02/04/1999 (ANA)

The firm has capital of 6.0 billion drachmas and six million shares. It will float 15-20 percent at 1,000 drachmas per share.

Holding a presentation for the company yesterday was the firm's chairman, Christos Kazantzis.

OTE Leasing would be the parent company's first subsidiary to enter the bourse.

Athens News Agency

[14] AGET Heracles preparing for YK2

Athens, 02/04/1999 (ANA)

AGET's chairman, Massimo Giudici, presented the company's strategy to tackle the problem.

Representatives of Hellenic Telecommunications Organisation, Public Power Corporation, National Bank of Greece and private sector companies brought their own corporate plans on handling the issue.

Athens News Agency

[15] Intracom participation at German exhibition

Athens, 02/04/1999 (ANA)

The exhibition was held between March 19-24.

Intracom participated for the second consecutive year with an independent pavilion of 150 square metres in a special location together with the largest telecommunications companies.

Athens News Agency

[16] Stalemate between bank employee unions, managements

Athens, 02/04/1999 (ANA)

EET reportedly offers 2.5 per cent salary increases and will not discuss the idea of a 35-hour work week.

OTOE President Dimitris Kouselas said the banks' stance is unacceptable, while threatening strike action.

National Bank Deputy Governor Theodoros Pantelakis, who participated in EET's negotiating team, said that state banks are currently competing with private ones on unequal terms, mentioning commitments concerning working hours and the tough process for hirings.

The two sides will meet again on April 15.

Athens News Agency

[17] Athens Foreign Exchange

Athens, 02/04/1999 (ANA)

Parities in Drachmas

Banknotes             Buying  Selling
US Dollar             301.161 308.144
Can.Dollar            199.392 204.015
Australian Dlr        190.717 195.139
Pound Sterling        484.790 496.031
Irish Punt            411.756 421.303
Pound Cyprus          560.797 573.800
Pound Malta           726.429 756.697
Turkish pound (100)     0.073   0.076
French franc           49.437  50.584
Swiss franc           203.196 207.908
Belgian franc           8.039   8.225
German Mark           165.804 169.648
Finnish Mark           54.541  55.806
Dutch Guilder         147.154 150.566
Danish Kr.             43.636  44.648
Swedish Kr.            36.456  37.301
Norwegian Kr.          38.857  39.758
Austrian Sh.           23.567  24.113
Italian lira (100)     16.748  17.136
Yen (100)             252.087 257.932
Spanish Peseta          1.949   1.994
Port. Escudo            1.618   1.655

Foreign Exchange      Buying  Selling
New York              301.161 308.144
Montreal              199.392 204.015
Sydney                190.717 195.139
London                484.790 496.031
Dublin                411.756 421.303
Nicosia               560.797 573.800
Paris                  49.437  50.584
Zurich                203.196 207.908
Brussels                8.039   8.225
Frankfurt             165.804 169.648
Helsinki               54.541  55.806
Amsterdam             147.154 150.566
Copenhagen             43.636  44.648
Stockholm              36.456  37.301
Oslo                   38.857  39.758
Vienna                 23.567  24.113
Milan                  16.748  17.136
Tokyo                 252.087 257.932
Madrid                  1.949   1.994
Lisbon                  1.618  1.655

Athens News Agency

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