Athens News Agency: Daily News Bulletin in English, 99-04-03

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

CONTENTS

[01] Tsohatzopoulos: Ethnic cleansing, change of borders unacceptable

[02] Top US diplomat Talbott in Athens tomorrow

[03] Kranidiotis: Kosovo turmoil a threat to stability in region

[04] Gov`t downplays any danger of Kosovo crisis spreading

[05] Strike in support of ceasefire

[06] Retired Greek officers call for negotiations instead of bombings

[07] Loads of humanitarian aid gathered in Thessaloniki headed for Serbia

[08] Meagre chance of acid rain fallut from NATO bombings

[09] Li Peng continues Greek tour with visit to Crete

[10] Oldest living Olympic medallist given a standing invitation for 2004

[11] Economic News

[12] Athens foreign exchange

[01] Tsohatzopoulos: Ethnic cleansing, change of borders unacceptable

SOFIA, 3/4/99 (ANA - S. Liarellis)

"There has been no discussion of using ground forces and such an event would change the character of operations. Greece, which is not participating in air operations, will not take part in any on the ground either, if the issue is raised," Defence Minis ter Akis Tsohatzopoulos said after contacts with the Bulgarian government.

Conversely, Mr. Tsohatzopoulos also warned that "ethnic cleansing operations were certain to lead to changes of borders in the area."

"Greece is a Balkan country, which together with the others in the region, is already suffering the first consequences due to the thousands of refugees. The refugees must remain near the borders, with a view to returning to their homes in the framework of a political solution, which should contain guarantees for respect for human rights, autonomy, and the protection of borders," he added.

"The international community and the peoples in the area demand an immediate cessation to ethnic cleansing operations and to the use of Yugoslavia's military machine to drive ethnic Albanians out of Kosovo. It is a human tragedy," he added.

Mr. Tsohatzopoulos welcomed the Milosevic-Rugova meeting in Belgrade, stressing that "if it is true" it could contribute to a de-escalation of tension.

Bulgarian Defence Minister Georgi Ananiev thanked his Greek counterpart for a commitment that Greece would ask NATO the examine the reasons for the explosions of NATO missiles on Bulgarian soil. After talks in Skopje later in the day with his cou nterpart of the Former Yugoslav Republic of Macedonia (FYROM), Nikola Kliusev, Mr.Tsohatzopoulos said there was common concern over the growing wave of refugees, affecting in particular Albania and FYROM, and that Greece was undertaking initiatives for de aling with the problem.

He argued that the NATO intervention was aimed at stopping ethnic cleansing operations.

Mr. Kliusev said there was broad identity of views and described his Greek counterpart's proposals "mature and realistic".

He expressed a view that the likely repercussions of military operations had not been correctly assessed in advance. He also called for an end to ethnic cleansing operations and for a return of all refugees to their homes.

He also expressed opposition to any change in borders and said that Bulgaria's territory would not be used for any attacks.

Mr. Tsohatzopoulos later had successive meetings with FYROM's Prime Minister Ljupco Georgefski, President Kiro Gligorov and Foreign Minister Alexander Dimitrov.

He will give a press conference on the results of his tour of Balkan capitals P Bucharest, Sofia and Skopje P today before returning to Athens.

Athens News Agency

[02] Top US diplomat Talbott in Athens tomorrow

Athens, 3/4/99 (ANA)

Mr. Talbott will be in the Greek capital as part of his tour of other Balkan capitals. He is heading a US delegation to Tirana, Skopje and other countries affected by the Kosovo crisis "to thank them for supporting NATO operations", the White House said on Thursday.

According to diplomatic sources, Mr. Talbott has requested a meeting with Prime Minister Costas Simitis.

In a related development, US ambassador Nicholas Burns, in statements published by the Athens morning daily "To Vima", was quoted as saying that "the United States supports the territorial integrity of Greece and the inviolability of its borders."

He reportedly said that Washington "understood the fact that Greece is the only member of NATO which is also a country in southeast Europe."

Referring to recent comments by US President Bill Clinton, Mr. Burns was quoted as saying that he had clarified the meaning of the comments to both Mr. Papandreou and Alternate Foreign Minister Yiannos Kranidiotis.

"The US does not believe the crisis in Kosovo will create a clash between Greece and Turkey," he said.

Mr. Clinton meant "that both countries could be affected separately but negatively by the conflict."

Athens News Agency

[03] Kranidiotis: Kosovo turmoil a threat to stability in region

Athens, 3/4/99 (ANA)

He was addressing a conference organised by the Greek European Studies Centre (EKEM) on the issue of "Foreign Policy in the 21st Century".

Mr. Kranidiotis said the Balkans' prospects can be none other than their inclusion in the European family. He said the west chose a different approach, selective and fragmental, and in this way we were led to war in Yugoslavia.

Explaining Greek positions, he said they were based on the principles of territorial integrity, the inviolability of borders and respect for human and minority rights.

Mr. Kranidiotis said Greece continues to believe that diplomacy must return to the forefront while there is still time. He said the continuation of conflicts is leading the crisis to uncontrollable situations and we are certainly moving away from the fr amework of Rambouillet.

He went on to say that fait accomplis will be created which might possibly be undesirable, adding that for this reason a political solution must be found as soon as possible.

Athens News Agency

[04] Gov`t downplays any danger of Kosovo crisis spreading

The Greek government yesterday said there was no danger of the Kosovo crisis spreading to other parts of the Balkans.

Following a Cabinet meeting chaired by Prime Minister Costas Simitis, government spokesman Dimitris Reppas said alleged information regarding "ethnic cleansing in progress in Yugoslavia by the side of Slobodan Milosevic" was discussed during the meeting .

He added that ethnic cleansing "is against international law, flagrantly violates human rights and we, as well as the international community, are opposed".

Answering questions over the possibility of a Greek entanglement, Mr. Reppas said: "We are very far from the possibility of a crisis, which could directly involve Greece in any kind of military conflict."

He also questioned why "certain individuals" associate the Kosovo issue with a possible Greek-Turkish conflict.

The government spokesman stressed that Greek borders "are guarded, are not open and are not available for unhindered passage."

On the possibility of a NATO ground offensive and Greece's reaction, he said "such issue has not been tabled we are a member of NATO and that is our choice and it is the wish of the large majority of the Greek people."

"As you can understand we have obligations and commitments to which we must respond. As you can see, other countries of the region are desperately requesting their accession to NATO," he added.

"On the other hand, we have shown in a very balanced way our policy, which calls for multilateral cooperation in the region. A policy which supports our national interests, while at the same time contributes to the confrontation of the crisis in the bes t possible way."

Mr. Reppas said the Cabinet also discussed the dual role of Greece as both a Balkan country and a European Union member-state in promoting peace and stability in the region.

On the refugee issue, he spoke of Greek initiatives for the provision of humanitarian aid for the refugees, which according to him total 120,000 in Albania and more than 40,000 in the Former Yugoslav Republic of Macedonia (FYROM), and about as many in M ontenegro.

He added that if a torrent of refugees exits Kosovo over the next few days "international organisations should confront it through a decision for the allocation of refugees in different countries."

Answering a relevant question, he said it was assessed that the crisis will continue, since NATO and US officials have made their point clear that they will continue and with a more rapid pace of military actions.

Referring to a meeting between Kosovo Albanian leader Ibrahim Rugova with Mr. Milisevic, he said that "I know of the relevant interview he (Mr. Rugova) gave to the German magazine "Der Spiegel", where he expresses several opinions, many of which are not in harmony with the statements he made during his meeting with Mr. Milosevic."

Athens News Agency

[05] Strike in support of ceasefire

Athens, 3/4/99 (ANA)

The work stoppage, from 1 to 3 p.m., was organised by the General Confederation of Workers of Greece (GSEE) and the Civil Servants' Supreme Administrative Council (ADEDY).

Local government employees, meanwhile, held a 24-hour strike to press for salary and institutional demands but a rally in Athens developed into a protest against the NATO bombings of Yugoslavia.

Shouting anti-NATO slogans, workers who had earlier rallied at Karaiskaki Square marched to the US embassy.strikePK

At the same time, a massive concert/rally was organised in downtown Thessaloniki to protest the NATO bombings in Yugoslavia and to press for the respect of human rights for all people in the region.

Several well-known Greek and Yugoslav performers, including composer Goran Bregovic, participated.

Athens News Agency

[06] Retired Greek officers call for negotiations instead of bombings

Athens, 3/4/99 (ANA)

The letter was undersigned by16 Greek retired high ranking officers of the country's armed forces, who are members of EESM.

The letter stated that "Ias long as the conflict is prolonged, so does the divide become deeper and the wounds will heal with greater difficulty.

"A defeated and humiliated Serbia will become a source of new unrest in the region, when the NATO forces will have departed. Meanwhile, we Greeks, your allies, will continue to live in the land of our ancestors," the letter read.

Athens News Agency

[07] Loads of humanitarian aid gathered in Thessaloniki headed for Serbia

Athens, 3/4/99 (ANA)

One hospital official in the city said all of Thessaloniki's hospitals had contributed significant ammounts of supplies to the consignment.

The aid is restricted, in line with the requests from the Red Cross in Kosovo, to serums, antibiotics, bandages, syringes and anaesthetics.

Foodstuffs and clothing have been gathered at the city's international fairgrounds, with dozens of residents donating clothing, shoes, flour, sugar and pasta products on a daily basis.

About 12.5 tons of foodstuffs are expected to reach Thessaloniki on Monday, collected by groups on the island of Samos.

Meanwhile, the Thessaloniki Medical Association (TMA) said it was organising volunteer groups of doctors and nurses to provide help if it was needed to victims of the NATO bombings in Yugosalavia.

"We have an open line with hospitals in Serbia and if there is a need we are ready to offer our help," TMA president Christos Papaconstantinou said at a news conference.

He said the groups would consist of 15 members, including surgeons, orthopedic surgeons, heart surgeons, nurses and stretcher bearers, adding that dozens of people, including specialists and members of the public, had indicated interest.

Athens News Agency

[08] Meagre chance of acid rain fallut from NATO bombings

Athens, 3/4/99 (ANA)

Thessaloniki University chemistry professor and the head of the Environmental Pollution Control Centre, Themis Kouimtzis, said most of the rain in Greece originated from air masses concentrated mainly in the Gulf of Genoa and Libya.

The little cloud from central Europe falling in Greece will have a marginal effect, Prof. Kouimtzis said, adding that only if NATO bombs destroyed a large number of major chemical plant in Yugoslavia would there be such an incident, which to date has no t occurred.

Chemical plants have been hit by NATO bombings over Yugoslavia, raising concerns that toxic fumes could affect the wider region.

Mr. Kouimtzis said, however, that heavy bombing of chemical industries in Yugoslavia could also pollute the ground and water tables of the region.

He added that the water table in Kosovo, the closest Yugoslav region to Greece, is unrelated to the water table of northern Greece.

Surface water passing through Former Yugoslav Republic of Macedonia (FYROM) straight into Greece would be the only way this form of pollution could affect Greece, he said.

He added, however, that he was surprised that international environmental organisations had not yet objected to the heavy NATO bombing of Yugoslavia, saying that such activity destroyed all forms of life in these regions.

Athens News Agency

[09] Li Peng continues Greek tour with visit to Crete

The president of China's National People's Assembly, Li Peng, continued a visit to the island of Crete yesterday.

"China and Greece are both countries with ancient civilisations and a long history, having greatly contributed in the development of humanity's civilisation and society's progress...the contacts and the exchanges between our people go a long way back an d (the origin of) their friendship is lost in the centuries," a press release noted.

"The purpose of my visit here is to deepen the mutual friendship between our countries and further promote the development of our bilateral relations".

"During the past two days in Athens I had friendly and warm discussions with Parliament President Mr. Kaklamanis. I also met with the President of the Republic Mr. Stephanopoulos and the Prime Minister Mr. Simitis", Mr. Peng said in the release.

"Cretan civilisation holds a significant place in the history of Greek civilisation. The people of Crete are famous for their bravery and their hospitality. I believe that my visit in Crete will leave a nice impression with me. I wish to Crete and its p eople prosperity and happiness", Mr. PengYs release concluded.

Athens News Agency

[10] Oldest living Olympic medallist given a standing invitation for 2004

Athens, 3/4/99 (ANA)

The veteran Olympic champion was received yesterday by Foreign Minister George Papandreou, who extend an invitation to him to attend the 2004 Olympics as an honoured guest of Greece.

Athens News Agency

[11] Economic News

Athens, 3/4/99 (ANA)

The general index ended 182.10 points, or 5.83 percent, higher to 3,303.49. Turnover was 113.2 billion drachmas and volume 21,076,222 shares.

Traders called Thursday's steep fall unjustified and said that Friday's bargain-hunting, particularly for blue chip stocks, was a normal upward correction.

Market sentiment was encouraged by renewed hopes of a diplomatic solution to the Kosovo crisis, stable conditions in the domestic money and bond markets and positive comments on the Greek economy by Morgan Stanley, the US investment firm. Sector indice s scored major gains.

Banks soared 6.01 percent, Leasing jumped 6.27 percent, Insurance rose 3.15 percent, Investment surged 6.64 percent, Construction ended 5.30 percent higher, Industrials soared 6.30 percent, Miscellaneous ended 3.48 percent up and Holding rose 4.87 perce nt.

The parallel market index for small cap companies ended 0.13 percent higher while the FTSE/ASE 20 index rose 6.19 percent to 2,053.86 points.

Broadly, advancers led decliners by 252 to 33 with another 2 issues unchanged. Thessaliki, Piraeus Bank, National Bank and Boutaris were the most heavily traded stocks.

A total of 32 stocks hit the day's 8.0 percent limit up. Among them were, National Bank, Ergobank, Alpha Credit Bank, Intracom, Nikas, Intrasoft, Aktor, Lambrakis Press and Tasoglou.

On the other hand, Ionian Invest, Alysida, Sato, Sigalas, Mouriadis, Sarandopoulos, Commercial Invest, Ionian Hotels, Ridenco suffered the heaviest losses.

National Bank of Greece ended at 20,509 drachmas, Alpha Credit Bank at 19, 980, Ergobank at 22,455, Ionian Bank at 19,505, Titan Cement at 22,820, Hellenic Petroleum at 2,310, Intracom at 17,487, Minoan Lines at 6,975, Panafon at 7,600 and Hellenic Telec oms at 7,600. Domestic banking sector looks to the future: Ionian Bank was finally sold to Alpha Credit Bank marking the successful completion of a privatisation round which started almost a year ago in the domestic banking sector.

During that year Greek banks signed cooperation agreements between them or with foreign financial institutions expanding their presence abroad and in particular the Balkans and eastern Europe.

Bankers and investors, however, are already starting to look to the future. What will be the response of Greek banks to the challenge to compete, on an equal basis, with powerful European banks in the eurozone?

National Economy and Finance Minister, Yiannos Papantoniou, National Bank of Greece's governor, Theodore Karatzas, and Alpha Credit Bank's chairman, Georgios Costopoulos, gave the answers to that question in speeches delivered during the week.

They said that the next two years would be a period of preparation to adopt the euro currency with speedier restructuring in the banking system.

Greek banks must take more decisive steps towards mergers and cooperations seeking scale economics in a higher competitive international market.

They must also press on to reduce their operational cost and restructure their portfolios. International expansion is also considered necessary, with focus on eastern Europe and the Mediterranean.

Greek banks will have to increase spending in new technologies, adopting electronic services, like web banking, telephone banking etc., to raise their share in the domestic and foreign markets.

Finally, continuous vocational training of personnel, a precondition to boost competitiveness. Lack of quorum postpones Aspis Bank general assembly: Aspis Bank announced a general shareholders' meeting for April 15 after yesterday's scheduled meeting was postponed due to lack of quorum.

The meeting was called to discuss a share capital increase scheme, worth around seven billion drachmas.

Aspis Bank has planned to launch six new branches this year, bringing its total network to 21.

After provision profits for the first two months of 1999 increased by 15 percent while lending was 50 percent higher compared with the same period last year. Techniki Olympiaki share capital increase: The Techniki Olympiaki construction firm will increase its share capital through cash payments to obtain capital amounting to 13.754 billion drachmas.

A major part of the new capital will be used to purchase a majority stake in the Mochlos construction company.

Techniki Olympiaki, listed on the Athens Stock Exchange's main market, deals primarily in public works and is ranked among the five largest firms with a class "H" licence.

Yesterday's annual general assembly of shareholders decided that share capital will increase by 4.9 billion drachmas with the issue of 19,642,910 new ordinary shares having a face value of 250 drachmas and a sale price of 700 drachmas per share. 'Air fare war' heats up in courts: An Athens court on Thursday accepted a restraining order by Cronus Airlines against the new Air Manos firm, temporarily prohibiting it, at least until May 19, from issuing tickets and advertising.

Cronus' attorneys claimed the small Athens-based carrier is experiencing unfair competition from Air Manos, which has not secured a necessary licence from Greece's Civil Aviation Authority.

However, Air Manos announced that it will not cancel or discontinue flights scheduled over the next few days. In an announcement, Air Manos' leadership said the restraining order and the temporary ban concerns Air Manos S.A. which is not active commerci ally since indeed it has not completed relevant processes and has not received the relevant licence.

Officials said the firm being advertised in the press and on posters as "Manos Welcome Service EPE-Air Manos", which is the company chartering aircraft to be used on Greek domestic routes with airline companies in possession of such licences. The compan y stated that it will carry out April 5 flights.

Manos Welcome Service-Air Manos is a subsidiary of the Manos travel agency, the largest in Greece. Gov't says education a priority in relation to EU funding: Government spokesman Dimitris Reppas yesterday expressed satisfaction over results at the Berlin summit. Mr. Reppas, who was referred to the cabinet meeting held earlier on the issue, said that "despite the fact it did not appear easy to close the issue o f the 'Agenda 2000', finalised decisions were ultimately taken thanks also to the ability of the German presidency, thanks to the good preparation of our government and the country's successful and tough negotiating headed by the Prime Minister, we succee eded in securing funds at a high level."

He reiterated that the nine trillion drachmas secured by Greece in the "Agenda 2000" framework are capable, if properly utilised, "to lead to a different image for our country in the coming years."

Mr. Reppas said education is the government's foremost priority as had been decided at a previous cabinet meeting. Decline in mutual funds' assets last month: Total assets of mutual funds in Greece declined by 40 billion drachmas in March, compared to February, reaching the 9.33-trillion- drachmas mark, the Union of Institutional Investors said in its monthly bulletin yesterday. The decline is mainly attributed to a 3.69 per cent fall in domestic money market funds (233 billion drachmas), partly counterbalanced by a 79-billion-drachma rise in the assets of domestic fixed income funds (4.92 per cent) and a 114-billion-drachma increase (15.7 per cent) of growth f unds.

Market shares were 62.65 per cent for money market funds, 19.25 per cent for fixed income funds, 9.43 per cent for growth funds and 8.67 per cent for income and growth funds.

Athens News Agency

[12] Athens foreign exchange

Athens, 3/4/99 (ANA)

Banknotes Buying Selling
US Dollar 300.576 307.545
Can.Dollar 199.432 204.056
Australian Dlr 190.464 194.880
Pound Sterling 481.874 493.046
Irish Punt 411.001 420.531
Pound Cyprus 560.361 573.353
Pound Malta 725.018 755.227
Turkish pound (100) 0.073 0.076
French franc 49.346 50.490
Swiss franc 202.983 207.689
Belgian franc 8.024 8.210
German Mark 165.500 169.338
Finnish Mark 54.441 55.703
Dutch Guilder 146.883 150.289
Danish Kr. 43.642 44.654
Swedish Kr. 36.436 37.281
Norwegian Kr. 38.819 39.719
Austrian Sh. 23.523 24.069
Italian lira (100) 16.717 17.105
Yen (100) 249.151 254.927
Spanish Peseta 1.945 1.990
Port. Escudo 1.615 1.652
euro
Buying: 323.690 Selling: 331.194
Gold Sovereign (rates in Drachmas)
Old mint: 20220 (b), Elizabeth up to 1973: 20810 (b), Elizabeth of
1974 and onward mints: 20810 (b), 22280 (s)
GOLD (in dollars per ounce) London: markets closed New York: markets
closed

Foreign Exchange Buying Selling
New York 300.576 307.545
Montreal 199.432 204.056
Sydney 190.464 194.880
London 481.874 493.046
Dublin 411.001 420.531
Nicosia 560.361 573.353
Paris 49.346 50.490
Zurich 202.983 207.689
Brussels 8.024 8.210
Frankfurt 165.500 169.338
Helsinki 54.441 55.703
Amsterdam 146.883 150.289
Copenhagen 43.642 44.654
Stockholm 36.436 37.281
Oslo 38.819 39.719
Vienna 23.523 24.069
Milan 16.717 17.105
Tokyo 249.151 254.927
Madrid 1.945 1.990
Lisbon 1.615 1.652

Athens News Agency

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