Athens News Agency: Daily News Bulletin in English, 99-04-29

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

CONTENTS

[01] Greek,, Russian FMs maintain need for political settlement to Kosovo

[02] Greece still on track for euro, Deutsche Bank says

[03] Brittan opens Economist conference with stress on benefits of globalisation

[04] Balkan environmental groups warn of imminent catastrophe from NATO bombs

[05] Demonstrators in Thessaloniki prevent passage of NATO tanks

[06] Survey shows public distrust of politicians

[07] Swedish royal couple in Nafplio

[08] Greece considers establishing Kosovars refugee camp in FYROM

[09] Economic News

[10] US-backed SECI meeting in Athens focuses on SE transports

[11] Athens foreign exchange

[01] Greek,, Russian FMs maintain need for political settlement to Kosovo

MOSCOW, 29/4/1999 (ANA - A. Podimata)

Speaking at a joint news conference after nearly three hours of talks, Mr. Ivanov said he had agreed with Mr. Papandreou to establish a joint working group to coordinate the dispatch of humanitarian aid and tackle the refugee problem.

Both foreign ministers stressed that the United Nations must play a significant role in efforts to resolve the crisis.

Mr. Papandreou said the agreement to coordinate humanitarian aid efforts would be particularly useful, and stressed that Greece was the only country which is active through non-governmental organisations for the provision of assistance inside Kosovo.

He said he had discussed 'the day after' with Ivanov, adding that Greece believed Russia's role would be decisive in this respect. Asked by reporters whether the deployment of an international peacekeeping force in Kosovo had been discussed, Mr. Ivanov said the issue had been discussed at length.

"There are some common points in our positions, but there are certain areas regarding which we do not yet have the answers. The issue is still at the discussion stage," he added.

Reflecting this view, Mr. Papandreou said Greece and Russia shared many common positions but that both countries were concerned about "how we can bridge the chasm between the views expressed by Belgrade and those of NATO member-states".

Both men expressed strong opposition to any use of ground troops in Kosovo.

Mr. Papandreou said intervention on the ground would leave "serious and long-lasting wounds" in the region. Mr. Papandreou, who arrived in Moscow today, was due to have talks later with Russia's special envoy on the Yugoslav crisis Viktor Chernomyrdin.

Chernomyrdin tour: Mr. Papandreou also said there was a coincidence of views regarding the need to intensify diplomatic efforts to find a political solution to the problem of Kosovo.

The Russian envoy announced that he will leave for Bonn today and will be visiting Rome and Belgrade afterwards, adding that he is prepared to make as many visits as are necessary provided a diplomatic settlement to the crisis is promoted.

He further said he is even ready to travel to the United States if necessary and appealed for a simultaneous end to both bombings and hostilities in Kosovo.

Today, the second day of the Greek minister's visit to Moscow, Mr. Papandreou will meet UN Secretary General Kofi Annan, who is also on a visit to the Russian capital.

Greek and Russian diplomatic sources said it is very possible that a "quadripartite meeting" will be held this afternoon between Mr. Annan and the foreign ministers of Greece, Russia and Canada.

Simitis: Meanwhile, and while addressing a meeting of the ruling PASOK Parliamentary group, Prime Minister Costas Simitis said Greece's insistence from the outset for a political solution to the Kosovo crisis had been vindicated, in view of the fact that NATO mili tary activity had not succeeded in preventing ethnic cleansing in the war-torn Yugoslav province. He warned that the "dramatic" developments in Yugoslavia were having major repercussions for the entire region and constituted a potential threat n ot only for the Balkans but for Europe in general. The premier reiterated that Greece would not participate in any military operations against Yugoslavia.

The triptych of Greek policy, he said, is based on the need for a political solution to the crisis, the development and incorporation of the Balkans in the European structure and the confronting of humanitarian problems.

Mr. Simitis said Greece was pursuing these objectives within the framework of "intense diplomatic activity" at all levels since the effort must be in cooperation with other European countries, citing Germany in particular.

No one can remain indifferent to the plight of the hundreds of thousands of refugees, he said, adding that Greece had taken a leading role in the despatch of humanitarian aid, being the only country which has sent assistance also to Kosovo.

Mr. Simitis said the refugee problem must be tackled jointly by all countries and until this is done, the refugees should remain as near as possible to their homes so that they might eventually return.

The European Union will again discuss the problem along these lines on May 27, Mr. Simitis said, adding that NATO Secretary General Javier Solana had himself said at the end of the Alliance summit at the weekend that initiatives must be undertaken since a solution would not be forthcoming only through military means.

Turning to NATO's weekend summit in Washington, Mr. Simitis said the Alliance had to adapt to new circumstances, given that the conditions which existed at the time of its establishment no longer applied.

In addition, he said, the spread of weapons of mass destruction had to be taken into consideration, for in addition to nuclear weapons there are now also chemical weapons.

Mr. Simitis said NATO's new role "which is summed up by the phrase 'crisis handling'" also raises the question of the legal basis for any intervention.

"Everyone agreed that this basis must be the rules of international law and the UN Charter," Mr. Simitis said. Another factor, he continued, is that NATO must examine all parameters with respect to what constitutes a real threat, "through intern al procedures (in the Alliance), so that there is a common line and a joint decision".

Mr. Simitis reiterated that Greece's participation in NATO was absolutely necessary, since matters of security and defence were now resolved at a supra-national level. If Greece did not participate in these processes, Simitis said, including those of th e Western European Union (WEU), in which Turkey participates as an associate member, Ankara would play a decisive role in all regional issues. Greece, he said, cannot be a non- aligned country because it has "political and military problems".

Speaking after the prime minister, Deputy Defence Minister Dimitris Apostolakis said Greece does not participate in any force active in the region, adding that the cost of the military operations will be covered by the countries participating militari ly.

He said that the Hellenic Navy destroyer "Themistocles" is part of NATO's forces, but does not participate in the operations.

Finally, PASOK Secretary Costas Skandalidis, referring to Kosovo, said there were no credible proposals for a different course as in relation to the government's decisions on Greece's stance to date.

Reactions: In response to Mr. Simitis' remarks, main opposition New Democracy spokesman Aris Spiliotopoulos said that "Mr. Simitis has underrated not only the citizens, but even his own deputies."

The Coalition for the Left and Progress (Synaspismos) claimed that the PM is "imprisoned in his one-dimensional logic and continues to engage in 'double-talk' to justify the unjustifiable: escalation of the bombings, an illegal embargo, the overthrow of international justice and the by-passing of the United Nations by a 'new' NATOI"

The Democratic Social Movement (DHKKI) stated that "hypocricy and subservience" characterised the premier's speech to PASOK's Parliamentary group.

Athens News Agency

[02] Greece still on track for euro, Deutsche Bank says

Greece's economic fundamentals are still moving in the right direction for entry into the euro zone although the risks are rising, Deutsche Bank said in a report yesterday.

Reuters quoted Deutsche Bank as saying that repercussions of the crisis in Kosovo meant that GDP growth would slow in 1999 by an estimated 0.2 percent to 3.1 percent.

The rate of growth would fall further if the Yugoslav crisis were prolonged, the report said.

Financial markets were cautious, it added.

The biggest hurdle to euro entry was inflation. The central bank had taken steps to curb credit expansion in an attempt to forestall any rekindling of inflation, and would not go ahead with a long-awaited cut in its intervention rates until the second h alf, Deutsche Bank said.

Any rise in oil prices would not have an adverse impact on euro entry as energy only comprised 5.0 percent of the consumer price index, the average in other EU countries.

Finally, Deutsche Bank said that the fiscal convergence criterion to qualify for the euro would easily be met as a major increase in state revenue was noted in the first few months of 1999.

Athens News Agency

[03] Brittan opens Economist conference with stress on benefits of globalisation

Athens, 29/4/1999 (ANA)

"Globalisation is the key to success for Europe, which must take advantage of the market," he said.

"The question posed is not how one stops globalisation, but how to tap it and benefit from it," he added.

Sir Leon set out the positive features accruing from European Economic and Monetary Union and the euro for European businessses -which are now rid of currency risks- and for consumers, and stressed that the structural reforms needed for EMU are the same required for successfully facing the challenge of globalisation.

Regarding Greece, Sir Leon emphasised it was on the right track and should maintain it. He further noted that when reforms were delayed, things were made worse.

He cited among the reforms required the need for reforming the tax and social security systems, restricting wage rises, privatisations, flexibility in the labour market.

Bomb attack The conference opened as planned despite a deadly bomb attack on the hotel hosting the conference shortly before midnight on Tuesday. One woman was killed and another person injured in the attack.

"The conference will go on as planned, and beefed up security measures have been taken in a radius of six kilometres," around the Intercontinental Hotel, a spokeswoman for the organisers said.

She also said there had been no cancellations among the prominent Greek and foreign guest speakers and delegates to the 3rd Round Table with the Government of Greece on the subject of "Globali-sation: The Challenge for Greece & Europe".

A home-made explosive device exploded on the lawn outside the hotel shortly before midnight, fatally injuring 39-year-old Virginia Constantinou, and injuring Ioannis Kanavas, 28, both employees of an informations systems firm who were installing equipme nt for the conference.

An anomymous caller, saying he represented the shadowy "Revolu-tionary Cells" group phoned two newspapers and a private television station 20 minutes before the explosion, warning about the bomb.

The terrorist group, which first emerged in late 1996, has in the past claimed seven other attacks, including bombs against former public order minister Stelios Papathemelis in September 1997, the headquarters of former supreme court president Vassilis Kokkinos' party in November 1997, and on American Express Bank and Barclays Bank branches in Piraeus in December 1998.

In a proclamation entitled "50 Years of NATO: Half a century of massacres of peoples and razing of societies - Bombs make the world go round", was sent to a private Athens daily (Athinaiki). The terrorist group said the bomb attack was in protest agains t the US-led NATO bombings of Yugoslavia, intervention in the Gulf P claiming it "deprived the entire Middle East of peace and prosperity" P as well as "US imperialism and its EU subordinates", among others.

Speakers at the conference include European Commission vice-presi-dent Sir Leon Brittan, Foreign Minister George Papandreou, National Defence Minister Akis Tsohatzopoulos, National Economy and Finance Minister Yiannos Papantoniou, Transport and Communic ations Minister Tassos Mantelis, Public Works Minister Costas Laliotis, Athens Mayor Dimitris Avramopoulos, Albanian Deputy Prime Minister Ilir Meta, Romanian Minister of Industry and Trade Radu Berceanu, Merrill Lynch UK managing director Paul Raphael, E uropean Investment Bank president Sir Brian Unwin, former Deutsche Bundesbank president Helmut Schlesinger, NATO assistant secretary general for defence planning and operations Anthony Craig and US ambassador in Athens Nicholas Burns.

Reactions: The main opposition New Democracy party (ND) and Coalition of the Left and Progress (Synaspismos) yesterday condemned the attack.

"We express our abhorrence over yesterday's blind terrorist hit, which had human victims," ND press spokesman Aris Spiliotopoulos said.

"We reiterate our complete support for every action of the police authorities in effectively tackling terrorism. It is necessary, with the common effort of all of us, to permanently neutralise the criminal action of terrorists, which harm the country's interests," he added.

A Synaspismos announcement said such acts of blind violence killed unsuspecting citizens, undermined the institutions, cultivated a climate of insecurity and put the country in a difficult position.

It also expressed concern over "the police authorities' delay in evacuating the premises" and called for an immediate investigation. Gov't: Government spokesman Dimitris Reppas also condemned the attack, saying the target had been the law and order as well as 'social development', while the perpetrators' aim was to "impose their views through barbaric methods."

He added that the Greek people condemn such actions, saying police requested of hotel security to evacuate the building.

Mr. Reppas said the evacuation was not complete as hotel security and personnel did not know the two computer firm employees were working late at their own initiative in the conference room hit by the explosion.

Athens News Agency

[04] Balkan environmental groups warn of imminent catastrophe from NATO bombs

Athens, 29/4/1999 (ANA)

A statement containing the warnings was also adopted by a further 14 European environmental organisations.

"The bombing of chemical plants, refineries and petrochemical complexes creates toxic clouds which are dangerous not only for the citizens of Serbia but for the peoples of all the Balkan countries and other European states, such as Austria, Hungary and Italy," the statement read.

The statement stresses also that the threat takes on nightmarish proportions given that Serbia has some of the most important underground waters in Europe.

"The use of recycled uranium by NATO in its attacks against Serb targets releases microscopic airborne particles which can easily be absorbed by military personnel and civilians alike.

NATO is risking the long-term contamination of vital natural resources and the environment, putting innocent civilians at risk, and especially children, not only in the Balkans but in the whole of Europe," the statement added.

[05] Demonstrators in Thessaloniki prevent passage of NATO tanks

Athens, 29/4/1999 (ANA)

A large group of demonstrators blocked the railway line near the old railway station in the northern Greek city, preventing the passage of a train which had started out from the port carrying light tanks and other military vehicles which were unloaded f rom the British-flagged freighter 'Sea Centurion' on Tuesday.

According to reports on Tuesday, the Sea Centurion unloaded 200 military vehicles, including light tanks, bridge-building equipment and other military material.

The demonstrators stood on the railway lines shouting slogans against the NATO bombing of Yugoslavia and throwing stones at the train.

The train was forced to return to the port.

Thessaloniki has been used as one of the main transit points for the supply and reinforcement of NATO troops and equipment in FYROM.

According to recent statements by NATO officials, some 4,000 British and German troops are scheduled to pass through the port city shortly, for deployment at Skopje airport and Kumanovo.

NATO last week gave written assurances to Skopje that FYROM would not be used as a launching pad for a ground attack in Kosovo.

Athens News Agency

[06] Survey shows public distrust of politicians

Athens, 29/4/1999 (ANA)

The survey, carried out at this time of the year in 1998, discerns a "deep structural confidence crisis" towards the political scene which, however, is not expressed directly in a lack of confidence in the political system itself.

A third of the electorate never trusts the government, seven out of 10 trust it circumstantially and three out of four believe that the government serves the big interests. One out of two citizens believes that public money is squandered and more than h alf believe that there are "quite a few corrupt people" in the government (while 13.4 per cent consider all of them to be corrupt).

Society's opinion of politicians and political parties is characteristic. A total of 83.3 per cent of people asked agree "rather absolutely" that whoever acquires power "always looks after his personal interests", 81 per cent that "those who are elected members of Parliament quickly loose contact with the people", 84.8 per cent that the parties are only interested in the citizens' votes and not in their views and 65.2 per cent that the political parties constantly criticise each other but in reality the y are all the same.

Athens News Agency

[07] Swedish royal couple in Nafplio

Athens, 29/4/1999 (ANA)

They visited the Nafplion museum where they were welcomed by Culture Minister Elizabeth Papazoi, before taking a guided tour of the institution.

Afterwards, the royal couple visited the archaeological site at Asine, where excavations had been conducted by the present Swedish king's grandfather.

The prefect of Argolida also hosted a dinner in honour of the Swedish royal couple before they returned to Athens.

Athens News Agency

[08] Greece considers establishing Kosovars refugee camp in FYROM

Athens, 29/4/1999 (ANA)

Mr. Traikovski told Mr. Niotis that 180,000 refugees have arrived in FYROM since the beginning of the crisis. On his part, Mr. Niotis informed him that the Greek government is ready to establish a settlement on FYROM territory to temporarily house Kosov ar refugees. The establishment will take place under the sponsorship of the non-governmental organisation "European Prospect." Mr. Niotis said the settlement will be established by a military force of about 70-80 men.

The Greek deputy minister assured his counterpart that Greece supports the neighbouring country's accession to Euroatlantic institutions.

Mr. Niotis was also visited by US ambassador to Athens Nicholas Burns. No statements were made after the meeting.

According to reports, the issue of Tuesday night's bomb attack in Athens was discussed, as well as the unfortunate position of local authorities in the city of Hania, on the island of Crete, who spoke contemptuously of Mr. Burns, terming him persona non grata in Crete.

Asked by reporters to comment on the event, Mr. Niotis said it would be good if local authorities were to restrict themselves to the level of their duties.

Athens News Agency

[09] Economic News

Athens, 29/4/1999 (ANA)

A beneficial side-effect might even be seen with the crisis slowing demand, possible encouraging a further decline in inflation.

However, a sharp decline in inflation anticipated around June could be delayed for two or three months, Mr. Papantoniou added.

No new economic measures needed to be taken because of the Yugoslav war in order to ensure alignment with the EU.

The effect of the crisis was estimated as a 0.2 percent decline in the rate of growth, and was not expected to rise to more than 0.5 percent of GDP, even if the crisis was prolonged, he said.

Despite the war, the government would go ahead with tax breaks the government had pledged beginning on January 1, 2000, the minister said.

Olympic Catering launches IPO today: Olympic Catering is seeking listing on the main market of the Athens Stock Exchange on April 29-May 4 through an initial public offering to raise 2.3 billion drachmas.

On offer are 550,000 existing shares and 1,207,500 new common shares.

A total of 1,757,500 shares with a nominal value of 400 drachmas will be offered at 1,900 drachmas each, of which 57,500 are destined for a private placement to the company's staff at 1,800 drachmas each.

Olympic Airways will hold a 74.7 percent stake in the company after the flotation, private investors 24.4 percent and Olympic Catering's staff 0.8 percent.

The lead underwriters are National Bank of Greece and Commercial Bank of Greece. The coordinator is National Bank; and Commercial Bank and ETEBA, another bank, are advisers.

The funds raised will be used for a five-year investment programme totalling 7.9 billion drachmas, mostly to finance Olympic Catering's installations at a new international airport being built for Athens at Spata.

The deal worth 2.16 billion drachmas with the Spata airport's management on the new catering unit is expected to be signed today.

Olympic Catering accounts for 60 percent of the domestic air catering market in Athens.

In 1997, the firm supplied a total of 52 airlines, 19 of them on a regular basis. Olympic Airways remains its biggest client.

Turnover totalled 15.9 billion drachmas in 1997 and pre-tax profits 1.795 billion drachmas. Estimates for 1998 put turnover at 16.7 billion drachmas and pre-tax profits at 423 million.

Oil specialist, workers to acquire Prinos oilfield: Eurotechnical ,a private sector oil specialist, and workers at Prinos oilfield in northern Greece are to acquire the facility on June 1 and restart operations.

Production halted after North Aegean Petroleum Corp., a Canadian-led consortium, pulled out citing high costs and low returns.

The new ownership formula devised by Development Minister Evangelos Venizelos will allow 274 workers to retain their jobs following redundancies ordered by NAPC.

Ionian Bank gets new board: Alpha Credit Bank yesterday announced a new board for Ionian Bank, in which it acquired a 51 percent stake through a privatisation tender.

Alpha's chairman, Yiannis Kostopoulos, also becomes chairman of Ionian. Appointed vice-chairman was Konstantinos Kyriakopoulos, Alpha's general director. Dimitris Mantzounis is the new general director.

The networks of the two banks are being merged with the process due for completion by April 2000.

Macedonia-Thrace Bank to boost share capital: Macedonia-Thrace Bank, a member of the Bank of Piraeus Group, will seek shareholders' approval for a 70-billion-drachma share capital increase to fund the bank's expansion in the domestic market and in the Balkans.

The plan envisages a one-for-one rights issue at 4,000 drachmas per share, the bank said in a statement yesterday.

The statement said that a restructuring programme for the bank was being implemented successfully and would lead to a substantial increase in profits this year.

Attica Enterprises posts 36.7 pct Q1 profit rise: Attica Enterprises (Superfast Ferries) has reported first quarter consolidated net profits of 879 million drachmas, up 36.7 percent on the first quarter of 1998.

Consolidated turnover was 5.1 billion drachmas, up 59.35 percent against the same period of last year.

Forex from shipping up 11.8 pct in Sept-Oct: Foreign currency inflows from shipping increased 11.8 percent in the period September-October 1998 to 403.4 million US dollars compared with 360.8 million dollars in the same period of 1997.

Inflows totalled 1841 million US dollars in January-October 1998 from 1726 million dollars the previous year, an increase of 6.7 percent.

Stocks rise on hopes of Kosovo solution: Equity prices continued their rebound for the second consecutive session yesterday pushing the general index above 3,500 points for the first time in six sessions.

The index ended 3.45 percent higher at 3,549.70 points, off the day's highs.

Turnover was 121.088 billion drachmas and volume 22,951,585 shares.

Traders said hopes of a diplomatic solution to the Kosovo crisis combined with a strong performance in international stock markets helped sentiment.

Sector indices scored gains.

Banks rose 3.68 percent, Leasing jumped 4.47 percent, Insurance increased 2.82 percent, Investment ended 3.86 percent higher, Construction soared 4.99 percent, Industrials increased 3.54 percent, Miscellaneous ended 3.58 percent up and Holding rose 1.20 percent.

The parallel market index for small cap companies ended 1.61 percent higher, while the FTSE/ASE 20 index increased 3.35 percent to 2,230.16 points.

Broadly, advancers led decliners by 259 to 30 with another 10 issues unchanged.

Metka, Intersat, Eskimo and Macedonian Textiles were the most heavily traded stocks. Alpha Credit Bank, National Bank, Commercial Bank and Eurobank led the day's turnover.

Maxim, Metka, Keranis, Mytilineos, Intersat, Fintexport, Ergodata, Sigalas, Naoussa and Proodeftiki scored the biggest percentage gains hitting the day's 8.0 percent limit up.

Hermes, Alysida, Daring, Rilken, Electra, Katselis, Britannia, Interinvest, Halyps Cement and Pavlides suffered the heaviest losses.

National Bank of Greece ended at 21,200 drachmas, Alpha Credit Bank at 21, 980, Ergobank at 26,985, Ionian Bank at 17,850, Titan Cement at 23,895, Hellenic Petroleum at 2,450, Intracom at 19,600, Minoan Lines at 7,380, Panafon at 8,125 and Hellenic Telec oms at 7,000.

Bonds nose up in light trade (PK): Bond prices edged up around 10 basis points in the secondary market with turnover again low.

Electronic trade totalled 35 billion drachmas from 39 billion drachmas in the previous session.

The new ten-year-bond was trading at 103.50, showing a yield around 5.84 percent. The yield spread with German bunds fell to 195 basis points from 199 basis points due to movements in German paper.

In the foreign currency market trade was mostly quiet. Minor demand was seen for the euro, leading to a slight retreat in the drachma.

The demand was covered by commercial banks, and the central bank stayed out of the market.

At the central bank's daily fix, the euro ended at 326.590 drachmas from 325.560 drachmas in the previous session.

Minoan Flying Dolphins to invest 250 million dollars: Minoan Flying Dolphins is to invest 250 million dollars over two years on five ships, it announced yesterday.

The firm is a joint venture between passenger shipper Minoan Lines and hydrofoil operator Ceres.

It recently acquired licences from the Merchant Marine Ministry to ply new domestic island routes.

Spyros Farming to expand to Iraq: Spyros Farming, which is listed on the Athens bourse's parallel market for smaller cap stock, plans to expand to Iraq.

It intends to sell chemical fertiliser to Iraq, where the market is mostly state-owned and estimated to be worth 300 million dollars.

Athens News Agency

[10] US-backed SECI meeting in Athens focuses on SE transports

Athens, 29/5/1999 (ANA)

A "memorandum of understanding" (MoU) was the product of the Southeast European Cooperative Initiative (SECI) meeting, an idea that Washington has promoted following the Dayton peace accords in Bosnia, and ostensibly targets the "harmonisation of laws g overning road transports" in the SE European region.

The event was hosted by Greece's transport ministry, and held at the Athens seaside resort of Vouliagmeni.

On his part, US ambassador Richard Schifter, the chief SECI mediator and a special adviser to the US secretary of state, afterwards answered one of the most germane questions on most delegates minds, namely, whether currently NATO-targetted Yugoslavia w ould at some point in the future be invited to join.

"We hope Yugoslavia will join in the future P a democratic Yugoslavia that is part of the region," Mr. Schifter, accompanied by the former US ambassador to Sofia, Kenneth Hill, stated. He declined, however, to comment on the ongoing NATO operations agai nst Yugoslavia or the political issues surrounding Kosovo, reiterating that his official post at present only covers SECI-related topics.

Touching on the issue of why Washington is so interested in southeastern Europe, an area including all of the Balkans, Schifter pointed to the United States' intent to "promote peace" after the Dayton accords through "facilitating cooperation" among the countries in the region, while rejecting notions that the US was dictating policy to countries on the European Union's doorstep.

"We did not make the rules, that was done by the nations of the region," he said.

The US wasn't interested in anything else except bringing these countries to the (negotiating) table...We provided some funding to be able to get people to the meetings and some assistance. We didn't influence the (MoU) text at all," Mr. Schifter added.

He also emphasised that both Greece and the EU were behind the initiative, downplaying questions over whether SECI could conflict with EU regulations, guidelines and the Schengen Pact.

"We're not duplicating what other people are doing. We thought it would be useful to encourage a coming together in terms of geography. We really want Europe to expand in the region, tomorrow in factIwe're not going to tell the EU what to do," he said, stressing that Greece (an SECI member) Italy and Austria were involved, while the Commission was also fully briefed on SECI.

Mr. Hill noted that the EU and US had agreed to work on SECI, while several current SECI members, Hungary and Slovenia, would "like to follow Greece's leadership and join the EU."

Athens News Agency

[11] Athens foreign exchange

Athens, 29/4/1999 (ANA)

Banknotes Buying Selling
US Dollar 303.651 310.691
Can.Dollar 205.503 210.267
Australian Dlr 198.708 203.315
Pound Sterling 491.556 502.953
Irish Punt 411.367 420.904
Pound Cyprus 560.480 573.475
Pound Malta 723.648 753.800
Turkish pound (100) 0.072 0.075
French franc 49.390 50.535
Swiss franc 201.381 206.050
Belgian franc 8.031 8.217
German Mark 165.647 169.488
Finnish Mark 54.489 55.752
Dutch Guilder 147.014 150.423
Danish Kr. 43.583 44.593
Swedish Kr. 36.416 37.261
Norwegian Kr. 38.986 39.889
Austrian Sh. 23.544 24.090
Italian lira (100) 16.732 17.120
Yen (100) 254.448 268.348
Spanish Peseta 1.947 1.992
Port. Escudo 1.616 1.653
euro
Buying: 323.977 Selling: 331.489
Gold Sovereign (rates in Drachmas)
Old mint: 20930 (b), Elizabeth up to 1973: 20620 (b), Elizabeth of
1974 and onward mints: 20620 (b), 22160 (s)
GOLD (in dollars per ounce) London: 283.45 New York: 282.60 Foreign
Exchange Buying Selling
New York 303.651 310.691
Montreal 205.503 210.267
Sydney 198.708 203.315
London 491.556 502.953
Dublin 411.367 420.904
Nicosia 560.480 573.475
Paris 49.390 50.535
Zurich 201.381 206.050
Brussels 8.031 8.217
Frankfurt 165.647 169.488
Helsinki 54.489 55.752
Amsterdam 147.014 150.423
Copenhagen 43.583 44.593
Stockholm 36.416 37.261
Oslo 38.986 39.889
Vienna 23.544 24.090
Milan 16.732 17.120
Tokyo 254.448 268.348
Madrid 1.947 1.992
Lisbon 1.616 1.653

Athens News Agency

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