Athens News Agency: Daily News Bulletin in English, 99-10-16

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

CONTENTS

[01] Turkish EU application implies responsibilities and obligations: Simitis

[02] Too soon to predict Greek euro entry, Duisenberg says

[03] Queen Sophia of Spain to inaugurate El Greco exhibition

[04] Greek, Turkish journalists to discuss codes of conduct

[05] Greek UN observer released in Abkhazia

[06] Duisenberg-Simitis meeting

[07] Diamantopoulou, Barnier tour quake-stricken regions of west Athens

[08] Gov't commends Nobel for Medecins Sans Frontieres

[09] AI protest outside US embassy condemns human rights abuses in America

[10] Economic News

[01] Turkish EU application implies responsibilities and obligations: Simitis

TAMPERE, 16/10/1999 (ANA - G. Papachristos)

The issue of the neighbouring country's candidacy was discussed during the official dinner last night, where it received support, but with many reservations, regarding the conditions which Turkey must meet.

The candidacy proposal was submitted by Commission President Romano Prodi, who said the Commission wished to open Turkey's European prospects, and that the country should satisfy accession criteria during the pre-accession phase.

Mr. Simitis told reporters that many of the European leaders who addressed the dinner said that any Turkish candidacy should be real and not bogus, fulfiling the conditions posed by the Copenhagen conference and EU summits.

He said that in his address he reiterated that a Turkish candidacy should be genuine, as this would be to the benefit of that country itself and Europe, and would contribute to peace and cooperation between the peoples in the area.

"The responsibilities and obligations emanate from the Treaty of Amsterdam and from decisions of summit councils which followed, and envisage the acceptance of certain principles such as respect for human rights and international law, the peaceful reso lution of differences, respect for the inviolability of borders, the right of every other European country to access to the EU, abstention from the use or threat of violence, and the application inside the country of the principles of democracy, the rule of law and human rights," he said.

The prime minister said there should be a well-defined method of monitoring the application of all such conditions.

Regarding the candidacy of Cyprus, Mr. Simitis said there should be the same treatment for all countries, meaning the existence of both rights and obligations.

He announced that in the next few days Foreign Minister George Papandreou and his alternate, Christos Rokofyllos, would tour EU capitals to brief governments on Greece's views regarding Turkey's candidacy.

Asylum, immigration policies: In another development, Mr. Papandreou said yesterday that Greece aimed to have a common European policy on asylum and had put forward the proposal for the creation of a fund to assist third countries which illegal immigrants used to gain entry to the Eur opean Union.

He was speaking to reporters at the end of the morning session of the special EU summit in Tampere, Finland, focusing on immigration issues.

He said a joint proposal from PM Simitis and Italian Prime Minister Massimo D'Alema would be put forward for the protection of the Adriatic and Ionian Seas from illegal immigration, crime and corruption. "Our country believes that dealing with the problems of illegal immigration and crime would also help combat xenophobia and racism, which is the other side of the coin," Mr. Papandreou said.

"Greece believes in the creation of an integrated judicial space, with the harmonisation of national legislations," he added.

The problem of the refusal of some countries to accept back illegal immigrants from the countries they entered illegally can be regulated not through bilateral agreements but through European Union agreements with these countries, he said. Mr. Roko fyllos said Mr. Simitis had brought up the enormous problem Greece faced in illegal immigration and crime coming through its borders.

Mr. Simitis told the morning sessions that a boat arrived with illegal immigrants on a Greek beach on a daily basis. These illegal immigrants have paid - to an Istanbul office - $1,000 for their passage and $500 for each child.

Countries from which these illegal immigrants are coming - Turkey, India, Pakistan - refuse to have them back, he added.

Equally tricky to combat is illegal immigration through land borders, despite the recent hiring of another 2000 border guards, Mr. Simitis said.

In their discussions during the first day of the summit, the EU leaders focused their attention on issues of justice, asylym and immigration. These included police and judicial cooperation, and measures to deal with crime and money laundering. The summit is not expected to adopt specific decisions, as member-states are not considered to have achieved the required degree of consensus. Yesterday, the ministers did, nevertheless, decided to ask their countries to draw up specific plans for fighting c rime, along the same lines as measures against unemployment.

Athens News Agency

[02] Too soon to predict Greek euro entry, Duisenberg says

Athens, 16/10/1999 (ANA)

"The determined efforts of Greece to achieve such convergence have to be commended. However, it is too early to reach a firm conclusion. Next year the European Central Bank will produce a convergence report to analyse what has been accomplished," said M r. Duisenberg in the Bank of Greece's annual Zolotas lecture.

The ECB's president underlined that achieving convergence was not a process that ended with adoption of the euro.

Being a member of the euro zone and being able to benefit from the potentially great opportunities offered called for ongoing adaptation to the new environment, and new rules of the game, Mr. Duisenberg said.

"It's like in sports. Reaching the top is difficult, but staying there is even harder," he added.

The European central banker also referred to the enlargement of the European Union saying that success depended on close links among political and economic forces in Europe.

Mr. Duisenberg spoke of how the Eurosystem, or the ECB and the 11 national central banks of EU member states that have adopted the euro, was meeting this challenge.

He said that a gradual approach to enlargement had been pursued at first because neither an immediate nor rapid accession of new members to the EU would have been feasible in the early 1990s.

He referred to the so-called "Copenhagen criteria" formulated at the Copenhagen European Council in 1993 with a view to defining a level playing field and ensuring the equal treatment of applicant states.

These included, a political criterion to guarantee democracy; an economic criterion to cope with competitive pressures and market forces; and the "acquis communautaire" criterion requiring that a candidate country be able to take on the obligations of E U membership including adherence to the aims of political, economic and monetary integration.

"The Eurosystem has a particular interest in keeping banking and financial sector developments in accession countries under close review," Mr. Duisenberg said.

He added that the central bank's primary objective will continue to be the maintenance of price stability in the euro area.

Athens News Agency

[03] Queen Sophia of Spain to inaugurate El Greco exhibition

Athens, 16/10/1999 (ANA)

Sophia arrived yesterday. She will officially open an exhibition featuring the works of Domenikos Theotokopoulos, 'El Greco', at the National Art Gallery on Monday evening.

"Queen Sophia of Spain is conducting a private visit to our country from today until Tuesday, when she is scheduled to leave," acting government spokesman Nikos Athanassakis said.

President of the Republic Kostis Stephanopoulos is to hold a dinner in Sophia's honour tomorrow.

Meanwhile, the wife of Spanish monarch Juan Carlos yesterday visited the graves of her parents in Tatoi, before appearing last night at a dinner hosted in her honour by Spanish ambassador to Athens Javier Jimenez Ugarte.

Athens News Agency

[04] Greek, Turkish journalists to discuss codes of conduct

ISTANBUL, 16/10/1999 (ANA - A. Kourkoulas)

The chairman of the Press Council, Oktay Eksi, who is responsible for the initiative, said yesterday that the meeting was expected to promote "common values in the sector of communications".

"We are certain that the climate of tension between Greece and Turkey served only those who gained benefits from that situation," Mr. Eksi said in the invitation to the meeting.

"What we were unable to achieve for a very long time became reality in just a few seconds as a result of the earthquakes which hit Greece and Turkey," he added.

The Press Council is a non-governmental organisation and operates on a voluntary membership basis. It has as its aim the promotion of codes of conduct and the protection of the journalistic profession.

Athens News Agency

[05] Greek UN observer released in Abkhazia

Athens, 16/10/1999 (ANA)

The remaining three hostages were released a day after four were set free by the gunmen.

According to reports, the observers from Sweden, Germany, Switzerland, the Czech Republic, Uruguay and Greece were abducted by nine gunmen 75 kilometres northeast of Sukhumi together with their Russian interpreter and after their helicopter came under f ire on Wednesday.

The Greek officer was identified as Georgios Kopanos, an artillery captain.

The government expressed its satisfaction over the release of Capt. Kopanos.

The foreign ministry issued a press release noting Greece's satisfaction over the successful and bloodless efforts of the Georgian government and UN officials, which led to the release of the hostages.

The ministry said Greece re-asserts its support for the UN observers' work and hoped for a speedy conclusion of the United Nations Observer Mission in Georgia (UNOMIG).

Athens News Agency

[06] Duisenberg-Simitis meeting

Athens, 16/10/1999 (ANA)

Athens News Agency

[07] Diamantopoulou, Barnier tour quake-stricken regions of west Athens

Athens, 16/10/1999 (ANA)

The European Commission and the Greek state are jointly examining ways of remedying damage in the quake-stricken areas of Attica prefecture within existing funds approved (2nd and 3rd Community Support Framework).

Funding will be able to take place (from the European Regional Development Fund and the Social Fund) through the Operational Programmes of the 2nd Community Support Framework and continue under the aegis of the 3rd Community Support Framework, as soon a s the credits which are available through the Operational Programmes are exhausted. Loans can also be provided by the European Investment Bank.

Speaking at a press conference at the end of their contacts, the two Commissioners expressed both their own will and that of the EU Commission to have the consequences of the disastrous earthquake tackled as soon as possible with regard to the social an d economic aspects of the stricken areas.

Mr. Barnier also held talks with Town Planning Minister Costas Laliotis, National Economy Minister Yiannos Papantoniou and Deputy National Economy Minister Christos Pachtas.

On her part, Ms. Diamantopoulou said the total programme concerning the two funds (the European Regional Development Fund and the European Social Fund) regards the infrastructures and the overall reformation of regions faced with problems, on the one ha nd, and social support and the restructuring of regions faced with problems in the social and economic sectors on the other.

European Social Fund support for quake-stricken unemployed: The European Social Fund will provide 30.2 billion drachmas to help support 12,350 unemployed earthquake-stricken individuals after an agreement was reached yesterday during a meeting between Employment Minister Miltiades Papaioannou and Greek Commissione r Anna Diamantopoulou.

In a statement afterwards, Mr. Papaioannou announced that in November he will discuss the issue of utilising Social Fund resources with the Greek Commissioner's staff.

Minor quake: A minor earthquake registering 4 Richter was recorded near Athens at 1:48 p.m. yesterday, seismologists said.

The quake's epicentre was near the Mount Parnitha fault, which caused the 5.9 Richter earthquake on Sept. 7.

Athens News Agency

[08] Gov't commends Nobel for Medecins Sans Frontieres

Athens, 16/10/1999 (ANA)

"True to the spirit of Hippocrates, Medecins Sans Frontieres has offered and will continue to unselfishly offer its services when poverty and social inequality place the precious commodity of health at risk," Health Minister Lambros Papadimas said in a statement.

The Norwegian Nobel Committee said it had awarded the Nobel Peace prize for its "pioneering humanitarian work on several continents".

"Today's Peace Nobel Prize recognises efforts of many years and we would like to share it with all the citizens around the world who helped our work, " Greek Chapter President Odysseas Voudouris said.

Athens News Agency

[09] AI protest outside US embassy condemns human rights abuses in America

Supporters of Amnesty International yesterday staged a protest outside the US embassy in Athens, part of the advocacy group's worldwide campaign to highlight human rights abuses in the United States.

In addition to AI's Greek chapter members, campaign coordinators from around the world also took part in the rally.

One of the protests included a replica of a chained Statue of Liberty holding a black book and listing all the human rights violations AI says are committed in the United States. It was placed opposite the embassy as AI representatives handed lists of s ignatures from around the world below a text demanding an end to human rights violations in the US.

Citing a number of laws aimed at protecting human rights recently passed at the state and city level, AI representatives said the international campaign had already brought results.

Athens News Agency

[10] Economic News

Greek, Dutch firms buy Bulgarian operator: Hellenic Telecommunications Organisation (OTE) and KPN of the Netherlands yesterday reached agreement with the Bulgarian government in negotiations for the joint purchase by the two firms of BTC, Bulgaria's state telecom.

OTE and KPN will acquire 51 percent of the Bulgarian firm after winning a privatisation tender.

The two firms will also acquire the rights to Bulgaria's second BSM technology mobile phone operating licence.

In addition, they are to own 51 percent of Mobicom, an existing mobile phone operator.

The total cost of the buyout is 510 million US dollars.

The Greek and Dutch firms intend to invest 200 million US dollars over the next three years.

Greek contractors get Spata deal: A consortium comprising Hellenic Technodomiki, Aegek and Aktor are the winners of a 25.5 billion drachma tender to build an aircraft maintenance centre at a new international airport being built for Athens.

The centre is to be used for Olympic Airways aircraft at the airport under construction at Spata.

The consortium offered 23.5 billion drachmas to carry out the work, whose construction deadline is 17 months from signature of the contract.

Stocks drop on forex woes: Equity prices ended the week sharply lower hit by turbulence in the domestic foreign exchange market and early reports of a new decline on Wall Street.

The general index ended 2.17 percent lower at 5,788.49 points, off the day's lows of 5,704 points.

Turnover was heavy at 478 billion drachmas.

Dealers said renewed pressures on the drachma's parity with the euro following negative comments by EU commissioner Pedro Solbes on Thursday undermined sentiment in the market.

The Bank of Greece intervened again to defend the drachma selling 150 million euros.

Sector indices ended as follows: Banks (-1.47 pct), Leasing (+1.60 pct), Insurance (+1.51 pct), Investment (-1.78 pct), Construction (-4.20 pct), Industrials (-3.23 pct), Miscellaneous (-1.89 pct) and Holding (-1.59 pct).

The parallel market index for smaller capitalisation stocks fell 3.75 percent while the FTSE/ASE 20 index for blue chip and heavily traded stocks eased 2.06 percent to 2,915.02 points.

Broadly, decliners led advancers by 213 to 95 with another seven issues unchanged.

Computer Logic soared 99 percent on its second day of trading in the market. A total of 18 shares ended at the day's 8.0 percent limit up, while another eight ended at the day's limit down.

Teletypos and Lampsa were the most heavily traded stocks.

National Bank of Greece ended at 23,650 drachmas, Alpha Credit Bank at 23, 400, Commercial Bank at 26,145, Titan Cement (common) at 36,990, Hellenic Petroleum at 5,150, Intracom (common) at 16,885, Hellenic Bottling at 7,280, Panafon at 7,780 and Helleni c Telecoms at 7,350.

Secondary market bond prices down in higher trade: Secondary market bond prices held low levels yesterday in line with markets abroad and deals were mainly in short-term paper.

Electronic trade totalled 60 billion drachmas from 49.5 billion drachmas in the previous session and 7.0 billion drachmas on Wednesday.

Of total turnover, sell orders accounted for 36 billion drachmas.

Trade has risen sharply from a negative record of zero turnover on Monday.

The benchmark 10-year bond, which is trading below par, was flat against the previous session.

The paper showed a yield of 7.16 percent from 7.14 percent a day earlier and 6.95 percent on Wednesday.

The 10-year paper's yield spread over German bunds was 177 basis points from between 169 and 173 basis points in the previous session and 165 basis points on Wednesday.

Drachma slumps in jittery trade: The Bank of Greece yesterday intervened in the foreign exchange market to prop up the drachma in nervous trade.

Still apparently fuelling demand for euros was a statement by European Monetary Affairs Commissioner Pedro Solbes on Thursday that the drachma's central parity should be debated.

The central bank sold around 150 million euros against 300 million euros in the previous session and between 80 million and 90 million euros on Wednesday in continuing volatility.

The Bank of Greece stepped in when the euro hit 329.25 drachmas in the wake of its intervention on Thursday when the European Union's single currency reached 329.15 against the drachma.

At the central bank's daily fix, the euro ended higher versus the drachma.

The European currency was set at 329.100 drachmas from 328.950 drachmas in the previous session and 328.800 drachmas on Wednesday.

The dollar finished lower against the drachma.

At the fix, the US currency was set at 303.260 drachmas from 305.440 drachmas a day earlier and 305.660 drachmas on Wednesday.

Retail sales up 2.64 pct in July: Retail sales in fixed prices increased by 2.64 percent in July compared with the same month last year, the National Statistics Service said yesterday.

The NSS said that the retail sales food price index rose by 9.8 percent while the clothing index increased by 7.4 percent in the same period.

The same indices for the Attica region rose by 7.8 and 5.6 percent respectively in July.

Harmonised CPI drops in September: Greece's harmonised consumer price index continued falling in September to hit an average year-on-year rate of 2.8 percent, down from 3.1 percent in August and 3.3 percent in July.

The harmonised figures are used for international comparisons of the inflation rate and to evaluate the inflation convergence criterion and price stability for European economic and monetary union.

The harmonised CPI index has not replaced the national index.

National Bank of Greece to monitor Heracles sale talks: The National Bank of Greece will adopt a wait-and-see attitude during the period of negotiations for the sale of AGET-Heracles, the country's largest cement maker, Deputy National Economy Minister Christos Pahtas told parliament yesterday.

The bank will do what it has to "with no comments or fanfare" until the negotiation procedure is completed, Mr. Pahtas said.

Replying to deputies' questions in parliament, he underlined the strategic importance of Heracles to the Greek economy.

Druckfarben gets control of Helios Cotahem: Druckfarben Hellas AEBE announced the acquisition of a majority stake in International Helios Cotahem AEBE for an undisclosed sum.

International Helios is one of the biggest paints firms in Greece with its products sold in 2,100 outlets throughout Greece.

Its turnover totalled 2.4 billion drachmas in 1998, pre-tax profits were 403 million and equity capital was 1.1 billion drachmas.

Druckfarben Hellas expects its consolidated turnover to total 6.6 billion drachmas and its pre-tax profit 1.1 billion drachmas this year.

Druckfarben plans to expand its export activities in the Balkans, eastern Europe and the northeast Mediterranean.

Sanyo Hellas to up share cap by Dr 68 bln: Shareholders of Sanyo Hellas Holding yesterday approved a share capital increase of 68 billion drachmas through a rights issue and the issue of 1,250,000 new shares at 1,250 drachmas each.

The plan also includes an offer of 50,000 shares to its staff at 1,750 drachmas each.

The new capital will be used to increase the company's holdings in other firms and to seek new acquisitions.

Sanyo Hellas Holdings expects its consolidated turnover to total 55 billion drachmas and profits to total 3.5 billion drachmas in 1999.

The company expects profits to reach 10 billion drachmas next year.

Complaints service for finance ministry departments: National Economy and Finance Minister Yiannos Papantoniou yesterday announced plans to establish a one-stop complaints service for all finance ministry departments, including the tax and customs bureaus. Mr. Papandreou said the new service would c ollect and investigate all taxpayer complaints and would contribute to improving the quality of services.

The service will have two branches: one in Thessaloniki for the Macedonia and Thrace region (tel: 551950, 510294, 554380 and fax: 535851); and one in Athens for the rest of the country (tel: 5239703, 5221944, 5232390, 5244147 and fax: 5239701).

Banknotes Buying Selling: US Dollar 300.834 307.809 Can.Dollar 202.904 207.608 Australian Dlr 195.384 199.914 Pound Sterling 500.801 512.413 Irish Punt 414.528 424.139 Pound Cyprus 563.079 576.134 Pound Malta 711.128 740.758 Turkish pound (100) 0.060 0.062 French franc 49.770 50.924 Swiss franc 205.547 210.313 Belgian franc 8.093 8.281 German Mark 166.920 170.790 Finnish Mark 54.908 56.181 Dutch Guilder 148.144 151.579 Danish Kr. 43.924 44.942 Swedish Kr. 37.204 38.067 Norwegian Kr. 39.115 40.021 Austrian Sh. 23.726 24.276 Italian lira (100) 16.861 17.252 Yen (100) 284.188 290.777 Spanish Peseta 1.962 2.008 Port. Escudo 1.629 1.667

Foreign Exchange Buying Selling: New York 300.834 307.809 Montreal 202.904 207.608 Sydney 195.384 199.914 London 500.801 512.413 Dublin 414.528 424.139 Nicosia 563.079 576.134 Paris 49.770 50.924 Zurich 205.547 210.313 Brussels 8.093 8.281 Frankfurt 166.920 170.790 Helsinki 54.908 56.181 Amsterdam 148.144 151.579 Copenhagen 43.924 44.942 Stockholm 37.204 38.067 Oslo 39.115 40.021 Vienna 23.726 24.276 Milan 16.861 17.252 Tokyo 284.188 290.777 Madrid 1.962 2.008 Lisbon 1.629 1.667

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