Athens News Agency: Daily News Bulletin in English, 99-09-08

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

CONTENTS

[01] Pawerful quake in Athens kills at least thirty-two

[02] Inflation drops to 2.0 pct, nears euro zone target

[03] Greece releases national plan for Balkan reconstruction

[04] Rampant stocks again post new high

[05] State telecom to build fibre optic cable

[06] Yield on 15-year bond rises

[07] Bonds nose down in thin trade

[08] Spending on advertising at Dr 277 bln in 1999

[09] Athens Foreign Exchange

[10] Simitis visits damaged factories

[11] ND calls for `calm and prudence`

[12] President of the Republic expresses sorrow

[13] Environment ministry issues instructions

[14] Culture minister visits museums after quake

[15] Turkey offers sympathy and help

[16] US coordinator for Cyprus talks with Kranidiotis

[17] Society salutes bravery of firefighters

[18] President, PM confer on economic efforts

[01] Pawerful quake in Athens kills at least thirty-two

Athens, 08/09/1999 (ANA)

About 150 people remained trapped in 35 collapsed or heavily damaged buildings, three of which are factories, in Metamorphossi, Tatoi, Ano Liossia and Kato Kiffissia, all Athens' northern suburbs.

Rescue teams from the Emergency Rescue Squad (EKAM), the Fire Brigade and the Army are continuously working to rescue trapped people, according to statements to the press by government spokesman Dimitris Reppas after an emergency meeting of ministers chaired by Prime Minister Costas Simitis.

According to official estimates, the rescue operation should end by midday today.

Five hundred prefabricated houses are being dispatched by the environment ministry to the stricken areas, while the health and defence ministries sent 750 hundred tents and blankets.

Hospital staff are on alert while experts advised residents not to return to damaged buildings.

According to estimates from seismologists, the quake had an epicentre some 20 kilometres northeast of the Greek capital, in the Mount Parnitha region.

Weaker aftershocks from the quake continued to rattle the city centre. Experts said an encouraging sign was that the aftershocks were decreasing in magnitude and that if this trend continued for the next 24 hours then yesterday's 5.9 quake would have been the major one.

Frightened Athenians gathered in the streets and parks following the quake, which was felt throughout central Greece.

Thousands of city dwellers trying to return to their homes blocked streets and roads around the city and traffic lights knocked out by the quake led to traffic chaos in the city centre.

The mobile phone network also was knocked out by the quake or by overloaded lines as people tried to ring home. The lack of contact served to exacerbate people's anxiety.

Hospitals in the city area have evacuated their patients; some were still camped out on the streets opposite the hospitals as buildings continued to be shaken by weak aftershocks.

The environment, town planning and public works ministry issued an urgent announcement at 4.30 p.m. calling on all central services' engineers to report for duty to begin undertaking evaluation of damaged buildings.

France, Turkey, Russia, the Czech Republic and Bulgaria are offering assistance by sending special rescue squads.

Emergency meetings : Prime Minister Costas Simitis, who was at his office when the quake struck, chaired two emergency meetings of ministers, in the afternoon and last night, and reviewed conditions and needs following the earthquake.

Government spokesman Dimitris Reppas said that efforts for the rescue of people trapped under the rubble continued.

He added that rescue efforts are expected to conclude by midday today, recovering all those trapped in the rubble.

The government will also take special measures for those rescued and the homeless, by providing immediate relief and providing medium and long term housing support, Mr. Reppas said.

He also noted that there will be increased policing in the areas worst hit, while special teams of engineers will visit buildings around the region to certify their stability.

Experts' comments : According to an announcement from the director of the Athens Observatory, George Stavrakakis, all the evidence so far pointed to yesterday's 5.9 quake being the major quake.

The Observatory said that a strong aftershock ten minutes after the quake registered 4.4 on the Richter scale and that residents could expect some seismic activity for the next few hours.

It said there was no reason for residents to be concerned by the seismic activity and said the next 48 hours could see aftershocks of up to 4.4 Richter and possibly close to 5.0 Richter.

Development Minister Evangelos Venizelos, in statements after visiting the Athens Observatory, counselled people to remain calm and said work was under way to determine the extent of damage to buildings.

Seismology professor Vassilis Papazahos told the ANA that yesterday's strong 5.9 quake was indirectly related to the devastating August 17 earthquake which killed thousands in neighbouring Turkey.

That quake had measured 7.2 on the Richter scale.

"Today's (yesterday's) quake would have occurred later but was pushed forward by the Turkish quake," he said.

He said he believed yesterday's quake was the main one but said the next 48 hours would be definitive.

Mr. Papazahos said the earthquake was a surface movement and that it orginated from a fissure 20 kms in length and no more than 10 kms in depth.

It was the cause of two major quakes in the 18th century: the first, in 1705, registered an estimated 6.4 on the Richter scale and caused widespread damage in Athens; and the second, in 1785, registered an estimated 6.0 and caused damage in Halkida.

Agreeing with Mr. Papazahos was geophysics professor at the Aristotelian University of Thessaloniki Sissi Kyratzi.

"The Turkish quake has affected the fissures in the wider region: a fissure which was to break up after 20 years is breaking up earlier as the Turkish quake has sped up developments," Mrs Kyratzi told the ANA.

According to a French News Agency (AFP) report, French seismologist Fabrice Cotton said new earthquakes of the same size as the one which rocked Greece yesterday "should not be ruled out" in the region and will be "of the same mechanism" as the earthqua ke which struck Turkey in August.

Mr. Cotton, who heads the bureau for assessing earthquake risks at ISPN (Institute of Protection and Nuclear Safety), explained to the AFP that the earthquakes in Greece and Turkey are both due to a double shift in the teutonic shelves of Africa and Europe.

Athens News Agency

[02] Inflation drops to 2.0 pct, nears euro zone target

Athens, 08/09/1999 (ANA)

The year-on-year increase in the same month of 1998 was 5.0 percent, down from 5.6 percent in August 1997.

The consumer price index fell 0.1 percent month on month in August from July due mainly to price declines in foodstuffs and non-alcoholic beverages, despite minor rises in transport and housing.

Mr. Papantoniou said that it was the first time in several decades that inflation was running at such a low rate, also noting that the real figure for August was 1.98 percent, rounded off to 2.0 percent.

"This development is totally consistent with the government's targets and our prospects of EMU entry," he said.

The government has set January 1, 2001 as the target date for entry into economic and monetary union.

Mr. Papantoniou forecast that inflation would continue falling.

Commenting on interest rates, the minister said patience was needed in order to attain a decline, which, in turn, was dependent on inflation holding at low levels.

"By the end of 2000 domestic interest rates should approach those in the euro zone", he said.

The secretary general of the National Statistics Service, Nikos Karavitis, said August's rate was the lowest since February 1970.

He added that recent government measures to lower inflation would result in a 0.6 percent drop in year-on-year inflation.

Athens News Agency

[03] Greece releases national plan for Balkan reconstruction

Athens, 08/09/1999 (ANA)

Yiannos Papantoniou told a news conference that the plan, which is part of an international reconstruction effort, would span infrastructure, services and trade.

He said that money to fund the scheme would be raised from the budget and from private sector sources. The beneficiaries of the plan would be Albania, Bulgaria, Romania, the Former Yugoslav Republic Of Macedonia and Kosovo, Mr. Papantoniou said.

The plan will base the allocation of funds on the conditions prevailing in each country, damage assessment, the level of economic and social growth, and ability to absorb funds, he added.

Set for aid are sectors including social infrastructure (health centres, schools), financial infrastructure (transport, telecoms, energy) and production.

Mr. Papantoniou said he would meet his Balkan counterparts in Thessaloniki on November 2-3 to discuss the plan.

Athens News Agency

[04] Rampant stocks again post new high

Athens, 08/09/1999 (ANA)

The general share index ended 1.48 percent up at 5,705.10 points from 5, 621.67 in the previous session.

Turnover again was above 400 billion drachmas from 424.324 billion a day earlier.

The index has recorded gains of 108.4 percent since the first session of the year.

As an aftershock of yesterday's earthquake in Athens, the bourse will be closed for transactions today as settlement did not take place.

The first delay was caused by a power cut after trade, and the second by brokerage personnel evacuating their offices after the temblor.

Trade will resume normally tomorrow. No closing figures were available for the Athens Derivatives Market, again due to technical problems.

Sector indices ended as follows: Banks (-0.57 pct), Insurance (+0.78 pct), Construction (+3.95 pct), Miscellaneous (+2.79 pct), Leasing (+3.23 pct), Investment (+2.51 pct), Industrials (+2.40 pct) and Holding (+6.71 pct).

The parallel market index for smaller capitalisation stocks rose 5.0 percent while the FTSE/ASE 20 index for blue chips and heavily traded stocks ended 0.53 percent higher.

Of 312 shares traded, advancers led decliners at 203 to 105 with four issues remaining unchanged.

A total of 57 shares ended at the daily 8.0 percent limit up.

Hellenic Petroleum and Hellenic Telecommunications Organisation were the most heavily traded stocks. National Bank of Greece ended at 25,095 drachmas, Alpha Credit Bank at 24,900, Bank of Piraeus at 9,530, Commercial Bank of Greece at 31,840, Titan Cem ent (common) at 34,970, Hellenic Petroleum at 4,150, Intracom (common) at 29,000, Minoan Lines at 8,650, Panafon at 9,900 and Hellenic Telecommunications Organisation at 7, 040.

Athens News Agency

[05] State telecom to build fibre optic cable

Athens, 08/09/1999 (ANA)

Most domestic telecoms traffic to the eastern Balkans and the Black Sea countries takes place via Bulgaria, OTE said in a statement.

The new link is expected to begin operations at the beginning of October this year, the statement said.

[06] Yield on 15-year bond rises

Athens, 08/09/1999 (ANA)

The average weighted rate rose to 6.96 percent from 6.53 percent in the previous auction of 15-year bonds.

Bids submitted totalled 297.3 billion drachmas while the finance ministry finally accepted bids worth 170 billion drachmas.

Athens News Agency

[07] Bonds nose down in thin trade

Athens, 08/09/1999 (ANA)

No final figures were available for electronic turnover, which traders said was low, due to communication problems caused by the temblor.

On Monday, electronic trade totalled 8.0 billion drachmas from 25 billion drachmas in the previous session and 30 billion drachmas on Thursday.

The benchmark 10-year bond was still trading below par around 98.00, showing a yield below 6.58 percent, the same as in the last few sessions.

The yield spread over German bunds was 160 to 162 basis points from 161 to 162 basis points in the previous session and 163 basis points on Friday. At the central bank's daily fix, the euro nosed down versus the drachma.

It ended at 326.800 drachmas from 326.920 drachmas a day earlier and 326.310 drachmas on Friday.

Also at the fix, the dollar rose against the drachma in line with its ascent in international markets.

The greenback was set at 309.870 drachmas from 307.750 drachmas a day earlier and 305.450 drachmas on Friday.

Athens News Agency

[08] Spending on advertising at Dr 277 bln in 1999

Athens, 08/09/1999 (ANA)

Spending on advertising in the month of August was 15.7 billion drachmas from 13.2 billion drachmas a year earlier, marking an 18 percent rise.

The data was given in a monthly report by Media Services SA. released yesterday.

Athens News Agency Athens 08/09/1999 (ANA) STOP PRESS: Foreign currency rates from the central bank's daily fixing were unavailable due to communication problems caused by yesterday's earthquake.

Athens News Agency

[09] Athens Foreign Exchange

Athens, 08/09/1999 (ANA)

Parities in Drachmas

Banknotes             Buying  Selling
US Dollar             305.288 312.366
Can.Dollar            204.749 209.496
Australian Dlr        197.031 201.599
Pound Sterling        490.167 501.532
Irish Punt            411.782 421.330
Pound Cyprus          560.480 573.475
Pound Malta           712.820 742.521
Turkish pound (100)     0.063   0.066
French franc           49.440  50.587
Swiss franc           202.839 207.542
Belgian franc           8.039   8.226
German Mark           165.815 169.659
Finnish Mark           54.544  55.809
Dutch Guilder         147.163 150.575
Danish Kr.             43.598  44.609
Swedish Kr.            37.541  38.412
Norwegian Kr.          39.103  40.009
Austrian Sh.           23.568  24.114
Italian lira (100)     16.749  17.137
Yen (100)             278.177 284.626
Spanish Peseta          1.949   1.994
Port. Escudo            1.618   1.655

Foreign Exchange      Buying  Selling
New York              305.288 312.366
Montreal              204.749 209.496
Sydney                197.031 201.599
London                490.167 501.532
Dublin                411.782 421.330
Cyprus                560.480 573.475
Paris                  49.440  50.587
Zurich                202.839 207.542
Brussels                8.039   8.226
Frankfurt             165.815 169.659
Helsinki               54.544  55.809
Amsterdam             147.163 150.575
Copenhagen             43.598  44.609
Stockholm              37.541  38.412
Oslo                   39.103  40.009
Vienna                 23.568  24.114
Milan                  16.749  17.137
Tokyo                 278.177 284.626
Madrid                  1.949   1.994
Lisbon                  1.618   1.655

Athens News Agency

[10] Simitis visits damaged factories

Athens, 08/09/1999 (ANA)

In a statement, Mr. Simitis expressed sadness for the earthquake victims and damage caused by the earthquake. He also extended his condolences to the families of fatalities and promised that the state will take care of all those who have suffered the consequences of the earthquake.

According to Mr. Simitis, rescue teams which have been trying since noon to save people trapped under rubble will continue to work incessantly.

He said an extensive operation is already underway and rescue teams will work for as much as is necessary until they rescue all who have been trapped and find all who are dead.

Mr. Simitis said an assessment of damage caused will start today and the relevant government agency will convene again to decide what aid will be provided and how those who have suffered damage from the earthquake will be helped.

"The country has experienced many other earthquakes in the past as well. We have quite a bit of experience and the state mechanism's action today shows that we can overcome difficulties. We will work continuously and I am certain that, just as in the past, we will tackle the consequences of the earthquake even better today," he said.

Mr. Simitis was accompanied on his visit by Environment, Town Planning and Public Works Minister Costas Laliotis, Interior Minister Vasso Papandreou, Press Minister Dimitris Reppas and Deputy Public Works Minister Christos Verelis.

Athens News Agency

[11] ND calls for `calm and prudence`

Athens, 08/09/1999 (ANA)

"ND places all its specialised staff at the disposal of authorities to enable the tackling of the tragic consequences of the earthquake in a more effective way," he said.

ND's party spokesman Aris Spiliotopoulos expressed ND's sincere condolences to the relatives of earthquake victims.

In an announcement, Mr. Spiliotopoulos reminded that party leader Costas Karamanlis has been in contact with the government from the very first moment, while relevant parliamentary and party cadres have also been in contact with relevant ministers and recommends to citizens in the Attica basin absolute calm and cooperation with the relevant authorities to avoid phenomena and outbursts of panic and, in general, to have the situation handled in the best and most effective way.

On her part, Communist Party of Greece (KKE) Secretary General Aleka Papariga, while visiting Thessaloniki, called for the immediate handling of problems arising in the wake of the devastating earthquake.

"I am not yet in a position to have a complete picture of the situation existing in Athens. However, judging from the earthquakes in Turkey and yesterday's developments, one must say that here in Greece and for many years, apart from the effort being ma de by various institutes and very often without necessary support by the state, no systematic effort has been made on a daily and longterm basis," she said.

Ms. Papariga said she hoped the earthquake will have no continuation and provide the opportunity for parties and mass agencies to exert the greatest possible pressure.

"An immediate handling of problems which have arisen is necessary. A registration of damage should take place. Necessary aid should be given to earthquake sufferers for the restoration of damage caused to houses and other buildings. A check should be conducted and measures should be taken for shielding against earthquakes. Problems arising in factories and other workplaces, as well as employment for working people, should be addressed," she added.

Coalition of the Left and Progress (Synaspismos) leader Nikos Constantopoulos expressed his "pro-found sadness" over the great catastrophe caused by the earthquake and particularly over the loss of human lives.

Mr. Constantopoulos communicated with Environment Town Planning and Public Works Minister Costas Laliotis and with mayors in earthquake-stricken areas, stressing his party's disposition to help the effort to support earthquake sufferers in every possible way.

"I call on all organisations, the members and friends of the Coalition to help the effort by the relevant authorities through self administration, the trade unions and the other social organisations," Mr. Constantopoulos said.

Athens News Agency

[12] President of the Republic expresses sorrow

Athens, 08/09/1999 (ANA)

"The sorrow of us all is great for the victims of the earthquake. I hope that the number of the dead will not increase. We observe with anxiety the efforts to free those trapped under the rubble.

"The material damages will be repaired. The state will help effectively.

My thoughts at this moment turn to those people who are in difficulty and suffer. We are in agony with them," the president said.

Athens News Agency

[13] Environment ministry issues instructions

Athens, 08/09/1999 (ANA)

People should avoid unnecessary travel and the unnecessary use of telephones. Emergency services should be facilitated in their work. Buildings which have developed cracks should not be used before being checked by engineers. Citizens should contact loc al authorities (police, the fire brigade, municipalities and prefectures) to communicate problems and claims. Lastly, people desiring the examination of buildings which have developed cracks should call 64.20.359-6426787 at the Environment, Town Planning and Public Works Ministry.

The Athens Water and Sewerage Company EYDAP conducted an extensive check of its water supply network and announced that there is no serious problem in water supply for the greater Athens area.

There is low pressure or inadequacy in the water supply network in certain areas, it was added. This is due to blackouts at pumping units (electric power failures) providing the city's reservoirs.

Athens News Agency

[14] Culture minister visits museums after quake

Athens, 08/09/1999 (ANA)

They ascertained that problems appeared at the National Archaeological Museum, the building housing it has developed cracks, in collecting urns kept on the first floor. Some urns of a medium and small size rolled over and broke. Ms. Papazoi decided to keep the museum closed for three days to enable a full report to be drawn up on the situation.

No problems were ascertained at the Acropolis and the museum. The sole thing ascertained was that small pieces fell from one of the Parthenon's pillars, while the same was also the case at the Propylae.

Small-scale problems appeared at the Ancient Market museum, which are being addressed. The museum will open at 10 a.m. this morning after Archaeological Service employees have previously repaired damage.

The Tzistaraki mosque in Monastiraki Square was also damaged.

No problems were faced at the Kerameikos, Elefsina and Kanellopoulos museums and at the archaeological sites at the Ancient Market, Kerameikos, Elefsina, Olympeio Adrian's Arch and Kapnikarea.

Athens News Agency

[15] Turkey offers sympathy and help

ANKARA, 08/09/1999 (Reuters-ANA)

Turkey itself is just recovering from a major earthquake that killed at least 15,000 people last month. Greek relief aid during that disaster helped ease some of the tension between the two countries.

"I wish to express the deep sorrow the Turkish people feel at the earthquake that took place today in Greece," President Suleyman Demirel said in a statement.

"We profoundly feel and share the pain you have from the loss of life and property in today's earthquake because of the earthquake disaster we recently experienced," he said.

A Turkish Foreign Ministry official said Prime Minister Bulent Ecevit had also sent a message of condolences to Greek counterpart Costas Simitis.

Foreign Minister Ismail Cem offered to give any help that was needed to deal with the impact of the quake, the official said.

Athens News Agency

[16] US coordinator for Cyprus talks with Kranidiotis

Athens, 08/09/1999 (ANA)

Speaking to reporters after the talks, Mr. Kranidiotis said: "We have seen several of his (Weston's) colleagues in the past who have tried to assist in the (Cyprus) problem and we hope that this time prospects will prove better and (Mr. Weston) will be the last envoy in this effort."

To this remark, Mr. Weston quickly replied: "I very much endorse your wish to be the last special coordinator for Cyprus and will continue to address this problem in a somewhat new fashion with the new team working in Cyprus which is myself, the new special US emissary Moses and the new ambassador in Nicosia."

Mr. Kranidiotis said that the Cyprus problem "cannot remain an open wound because it undermines stability in the region and we look forward to the U.N. Secretary General's initiatives."

Possibilities for a "serious initiative" exist, he added.

"The Cyprus issue should be resolved on the basis of U.N. resolutions and within the framework of EU principles," Mr. Kranidiotis said, expressing the hope that the American side, the U.N. and the E.U. would impress on Turkey "to cooperate with the inte rnational community for a settlement of the problem."

Mr. Weston said that there were "positive elements in the international environment", to address the Cyprus problem.

Mr. Weston, a career diplomat, who was named Special Coordinator for Cyprus by President Bill Clinton last July, arrived from Cyprus Monday and he is due to travel to Ankara.

He will also conduct consultations on Cyprus with allies in European capitals.

Athens News Agency

[17] Society salutes bravery of firefighters

Athens, 08/09/1999 (ANA)

"You deserve a warm bravo and congratulations. We and the Greek people recognise your contribution. You have worked in an exemplary fashion and your contribution is recognised by all Greeks today. You constitute a model for the work which should also be done elsewhere," Mr. Simitis told firemen.

Mr. Simitis also referred to efforts made by the state to upgrade infrastructures, the equipment and the service's staff.

Outlining the government's overall work in this sector, he said it includes, among others, the hiring of 3,000 more firemen and 4,000 seasonal firefighters, the procurement and renting of more firefighting aircraft and water tank vehicles and the better coordination of services involved.

Mr. Simitis further referred to volunteer firefighters, considering them a "living example that we can make our lives better and our country better with our participation as well."

Mr. Simitis was accompanied on his visit by Interior Minister Vasso Papandreou, Public Order Minister Mihalis Chrysohoidis and Deputy Minister to the Prime Minister's Office George Paschalidis.

Athens News Agency

[18] President, PM confer on economic efforts

Athens, 08/09/1999 (ANA)

During the hour-long meeting, President Stephanopoulos showed special interest in the outcome of Greece's efforts to join Economic and Monetary Union (EMU) and listened to the prime minister's optimistic evaluations.

"We have stressed that we should continue this effort steadfastly, to complete relevant negotiations to enable a cycle to close in this way and another to open at the same time, a cycle of development, which will be based on everything steady we have ac hieved," Mr. Simitis said after the meeting.

He also assessed that the current year will be important, apart from the effort on the EMU front and on issues concerning the country in general such as Turkey's position towards the European Union, the enlargement framework and Europe's new shape from discussions on enlargement.

Athens News Agency

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