Athens News Agency: Daily News Bulletin in English, 00-02-25

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

CONTENTS

[01] Greece to submit EMU application on March 9

[02] Visiting NATO chief Robertson holds wide-ranging talks with Greek leadership

[03] Turkish military exercise underway near Sarikamis

[04] US ambassador announces US support for Roumeliotis as president of Stability Pact's "First Bank"

[05] ND leader to inaugurate conference organized by ND and European Peoples' Party

[06] Chinese president to visit Greece in May

[07] Greek president to visit Canada

[08] Interior minister announces measures on education for Moslem minority

[09] Simitis stresses need for "deeper reform"

[10] ND leader tours IKA bureau in Kallithea

[11] Papantoniou sets economic targets for post-EMU era

[12] We must respect market rules, Papantoniou says

[13] Greek stocks rebound strongly, blue chips lead the way

[14] Hellenic Petroleum president holds

[15] India the focus of latest IIER Athens seminar

[16] Gov't dismisses reports of fallout with Sofia over OTE designs in neighboring country

[17] OTE, Bank of Piraeus forge strategic deal

[18] New 1000-drachma banknote in October dedicated to Olympic Games

[19] Faculty of Modern Greek studies to be established at Istanbul University

[20] Study on Mediterranean seal released

[21] European Parliament president expresses concern over continuing Turkish occupation

[22] Greek and Turkish Cypriot rights activists to meet

[23] Government refuses comment on surveillance reports

[01] Greece to submit EMU application on March 9

Athens, 25/02/2000 (ANA)

The announcement came after a meeting with President of the Republic Costis Stephanopoulos, whom Papantoniou briefed on Greece's efforts to join the euro-zone on January 1, 2001.

Papantoniou told reporters after the meeting that he had also briefed the President on his recent trips to London where he met with institutional investors -- and Brussels, where he addressed the European Parliament's Economic and Monetary Committee on the course and prospects of the Greek economy.

Salomon Smith Barney sees Greek bond rally after March 9: International investment house Salomon Smith Barney said on Thursday that it expected the Greek bond market to rebound when Greece applies to join the 11-member euro zone on March 9.

In a market report for customers, Salomon said that the bond market's current sluggishness was justified following a steep ascent in recent months.

European Union leaders will take a decision on whether or not Greece qualifies for euro zone entry in June at a summit in Lisbon.

Analysts widely believe that Greece will meet its self-imposed target date of January 1, 2001 for euro-zone membership.

[02] Visiting NATO chief Robertson holds wide-ranging talks with Greek leadership

Athens, 25/02/2000 (ANA)

The NATO chief made the comments after talks in the Greek capital with Prime Minister Costas Simitis.

Robertson, who succeeded Javier Solana at the helm of the Euro-Atlantic military bloc, arrived in Athens on Wednesday for a two-day visit -- part of his ongoing tour of alliance member-states.

Discussions with Simitis also focused on EU-NATO relations within the framework of building a European security and defense identity.

At a joint press conference afterwards, Robertson welcomed the recent Greek-Turkish thaw and congratulated Simitis on the stance maintained by Athens during the Kosovo crisis.

The former British defense minister, who is on his first visit to Greece, said he had a "very constructive" discussion with Simitis, noting that Greece was one of the first countries to support NATO's multinational efforts in Kosovo.

"Last year I went to Kosovo and Albania, and am fully aware of the important and leading role played by Greece in this troubled region," he said, adding that the situation in the strife-torn Kosovo town of Mitrovica was "better than in recent weeks", citing information by the alliance's military officials on the scene.

He also said that a NATO council would on Friday discuss a proposal for the movement of troops in the area. Although the reinforcement of KFOR was not deemed necessary at this time, such a move could be decided in the future if necessary, Robertson added.

NATO sub-headquarters: Regarding the newly inaugurated NATO sub-headquarters in the central Greek city of Larissa, Robertson said it played an important role in the region and provided useful military information. Since the alliance's regional headquarters planned for Pristina was not yet functional, the Larissa sub-headquarters had a particularly upgraded role in the Balkans, Robertson added. On his part, Simitis reiterated Greece's position that Kosovo must retain its status as an autonomous province inside the borders of Yugoslavia.

He also stressed that NATO's presence in the region should ensure balance in Kosovo's multi-ethnic society.

"Developments are leading to tensions which must be placed under control, and this control has been undertaken by the multinational force, in which Greek soldiers are participating," Simitis said.

The Greek premier added that he and Robertson also discussed the issue of a European security and defense identity, and ways for cooperation among the European countries to focus on coordination and organization of the alliance's new and emerging structure.

The Greek premier spoke of increasing NATO's capabilities, noting that the alliance no longer had a strictly defense role but also played an important role in humanitarian missions. He also stressed the significance of the Larissa allied sub-headquarters, which has been operation since Sept. 1.

Earlier, Robertson was received by President of the Republic Kostis Stephanopoulos.

Karamanlis: Afterwards, the NATO chief met with main opposition New Democracy leader Costas Karamanlis.

Robertson briefed the ND president over the latest developments in the alliance's planning, as well as on issues of particular interest to Greece and its immediate neighbor to the east.

In addition, the situation in Kosovo was also discussed, along with European security.

Gov't spokesman on CBMs: In later statements, government spokesman Dimitris Reppas called the 1988 Papoulias-Yilmaz memorandum a very satisfactory basis for confidence-building measures (CBMs) in the Aegean. Reppas was replying to press questions over the alliance's support for CBMs in the Aegean. He added that Athens views this procedure via NATO in a positive light, while he referred other questions dealing with the Robertson visit to other relevant government officials.

[03] Turkish military exercise underway near Sarikamis

ISTANBUL, 25/02/2000 (ANA - A. Kourkoulas)

[04] US ambassador announces US support for Roumeliotis as president of Stability Pact's "First Bank"

Athens, 25/02/2000 (ANA)

Papandreou also briefed Burns on the results of NATO Secretary General George Robertson's visit to Greece, while views were exchanged on the latest developments in Kosovo.

[05] ND leader to inaugurate conference organized by ND and European Peoples' Party

BRUSSELS, 25/02/2000 (ANA - M. Spinthourakis)

The conference will be attended by party representatives from Balkan countries, as well as by ND and EPP Eurodeputies.

It is the third meeting organized by the EPP with Balkan parties, following the two held last year in Thessaloniki and Banja Luka. The conference, as well as meetings with Balkan political personalities, aims at seeking common political priorities and strengthening the effort for democracy and prosperity in southeastern European countries.

The Thessaloniki conference will focus on elaborating proposals and taking decisions on practical measures that would facilitate participating parties to contribute to the region's political stabilization and the consolidation of peace.

[06] Chinese president to visit Greece in May

Athens, 25/02/2000 (ANA)

Speaking to reporters after meeting the new Chinese Ambassador to Athens Mr. Zen at the foreign ministry, Niotis said relations between the two countries were improving considerably and that a visit to China has also been scheduled by Greek premier Costas Simitis this year.

Niotis will make an official visit to China on February 27 for talks with his counterpart and to sign an agreement on political consultations.

[07] Greek president to visit Canada

MONTREAL, 25/02/2000 (ANA/I. Frangouli)

President Stephanopoulos, who will be holding talks with the country's leadership, will be accompanied by Greek foreign minister George Papandreou.

The president will be having talks in Ottawa with Clarkson, Prime Minister Jean Chretien and other officials. He will also visit Montreal and Toronto for contacts with the local Greek communities.

The last visit to Canada by a Greek president took place in 1982.

[08] Interior minister announces measures on education for Moslem minority

Athens, 25/02/2000 (ANA)

Speaking while on visit to Xanthi, northern Greece, Papandreou said that daily problems faced by the Moslem minority in Thrace are top priority issues for the government.

"Education, the institutional issues and the problems of daily life faced by the minority in Thrace constitute top priority issues for the government and for this reason the necessary solutions have been scheduled," she said.

"The amount of 1.4 billion drachmas is being provided to improve minority schools, a program of upgraded education for Moslem children has been prepared, the issue of books in the Turkish language has been resolved after many years and the 0.5 percent quota for the entry of the children of Moslems to the country's universities continues to exist, while the state provides assistance to enable the operation of private minority junior high schools," Papandreou added.

[09] Simitis stresses need for "deeper reform"

Athens, 25/02/2000 (ANA)

"Trikoupis carried out major infrastructure projects, pursued a foreign policy without the excesses of irredentism and introduced the principle of the vote of confidence in a government ... We must not forget this in a fast developing world requiring continuous alertness, systematic work and constant search for improvement, in other words, a deepening of the reform process," he said at the unveiling of Trikoupis' statue outside Parliament.

Former Presidents of the Republic, Prime Ministers, Ministers and Deputies also attended the event. Trikoupis served ten times as Prime Minister. He died in 1896.

[10] ND leader tours IKA bureau in Kallithea

Athens, 25/02/2000 (ANA)

In brief comments to reporters after his tour, the ND leader said, "after 20 years of (ruling) PASOK being in government, the situation at IKA is intolerable and provocative." He also referred to what he called the low pay scale for IKA physicians and the issue of contract staff.

The visit comes amid ever-increasing pre-election activity by Greek political parties, as general elections are scheduled for April 9.

[11] Papantoniou sets economic targets for post-EMU era

Athens, 25/02/2000 (ANA)

These rates, he said, would continue and we could reach a combination of a 5.0 percent economic growth and 2.0 percent inflation in the next few years, leading the country to a new economic and social situation.

Papantoniou said that Greece's average income in 1993 was 62 percent of the EU's average. It rose to 70 percent last year and it is expected to reach 82 percent in 2005. "Convergence with the other EU member-states will be achieved by the end of the decade," he noted.

Presenting Greece's economic targets for the post-EMU era, he said they included: promoting structural changes to achieve and strengthen high growth rates, deregulating domestic markets through privatizations and flotations, supporting smaller and medium-sized businesses and encouraging business activity - a critical factor in the coming years.

Papantoniou said promoting business activity would unleash huge forces in the country and help lowering taxes on SMEs.

"Greece must enter the digital economy and to achieve that we have to start now," Papantoniou stressed.

He said that Greece should continue creating and redistributing wealth in the next decade to strengthen the social state's role and upgrade the health, welfare and education sectors.

Greek industrialists say reform of social security system a priority for new government: Representatives of the Federation of Greek Industrialists (SEB) said on Thursday the radical reforming of the social security system should be among the top priorities of the government resulting from the April 9 general election, while SEB Deputy President Nikos Analytis referred to the public dialogue currently taking place all over Europe, adding that a similar development should follow in Greece.

SEB President Iason Stratos, commenting on the country's prospects of joining Economic and Monetary Union (EMU), said "we believe that it will certainly be achieved and this will be the starting point for new possibilities in our country", adding that "after accession we will also have increased interest from foreign investors which will be good for the country's development course."

Stratos also said that the overall revision of the country's tax system is necessary, which is not competitive, and that increases in oil prices have repercussions for industries regarding production and transportation costs.

[12] We must respect market rules, Papantoniou says

Athens, 25/02/2000 (ANA)

Papantoniou briefed the Greek President on the country's EMU application procedures on March 9.

Speaking to reporters during a press conference, Papantoniou said that institutional investors listened very carefully to Greece's economic achievements during his visit in London.

Referring to the stock market, he said that the main opposition New Democracy party has made it a political issue, and reminded that two or three years ago the general index was at 1,000 points and that now stands at more than 5,000.

"Greece needs a reliable government to ensure participation in EMU and set the country's economic course following entry," Papantoniou said.

It is very important to have a strong and reliable government in May and June to support the country's application in EMU, he noted.

Papantoniou said that during negotiations and consultations in various EU bodies, doubts over the country's economic course could be heard similar to those voiced by a European Parliament's committee during Papantoniou's briefing.

Concerns mainly focused on the inflation criterion, due to the impact of rising international oil prices, and the privatization program.

Papantoniou said the government would proceed with its privatization and flotation program as scheduled. "We completed successfully 15 privatizations and flotations and another 15 are planned for the period 2000-2001. We will liberalize the energy and telecommunications markets to improve competition and achieve lower prices," he said.

[13] Greek stocks rebound strongly, blue chips lead the way

Athens, 25/02/2000 (ANA)

Traders said sentiment improved dramatically but turnover remained low as private investors remained sidelined.

The general index ended 2.68 percent higher at 5,234.62 points, off the day's highs of 5,246 points, with turnover a low 185 billion drachmas.

The FTSE/ASE 20 index for blue chip and heavy traded stocks ended at 2,859.65 points, up 2.93 percent and the FTSE/ASE MID 40 index rose 3.36 percent to 844.82 points

Sector indices ended as follows: Banks: 9,842.99 +1.88% Leasing: 1,173.53 +1.65% Insurance: 3,312.58 +0.59% Investment: 2,541.28 +3.83% Construction: 3,038.20 +3.25% Industrials: 3,083.62 +2.50% Miscellaneous: 6,495.38 +3.66% Holding: 5,776.88 +2.31%

The parallel market index for smaller capitalization stocks ended at 1,292.27 points, up 3.43 percent.

Broadly, advancers led decliners by 277 to 60 with another eight issues unchanged.

Athinea, ETBAbank, Lambropoulos, St. George Mills, Klonatex, Piraeus Invest, Duty Free, Esha and Agrinio Metalplastics ended at the day's 10.0 percent limit up. Doudos ended at the day's limit down followed by Xylemporia (-6.3 pct), Kyriakoulis Yachts (-6.2 pct) and Pairis (-6.1 pct).

Hellenic Telecoms, Panafon and ETBAbank were the most heavily traded stocks.

Leading shares' closing prices (in Drs): Alpha Credit: 25,450 National Bank: 24,450 Commercial Bank: 23,800 Ergobank: 28,400 Eurobank: 12,945 Heracles Cement: 10,190 Hellenic Petroleum: 4,300

Intracom: 16,055 Minoan Lines: 8,150 Hellenic Telecoms: 10,100 Panafon: 5,675 Ôitan Cement: 16,500

Equity futures rise in brisker trade: Equity futures on the Athens Derivatives Exchange finished higher on Thursday in line with the stock indices on which they are based.

On the Athens bourse, the FTSE/ASE 20 index for blue chip and heavily traded stocks ended 2.3 percent up; and the FTSE/ASE Mid 40 for medium capitalization stocks closed 3.3 percent higher.

Turnover from futures rose to 9.4 billion drachmas from 7.3 billion drachmas a day earlier and 12.9 billion drachmas on Tuesday.

A total of 1,215 contracts were traded on the FTSE/ASE 20, showing turnover of 6.9 billion drachmas.

The contracts ended as follows: expiring March at 2,920; expiring April at 2,950; expiring May at 2,961.75; and expiring June at 2,972.75.

Futures traded on the FTSE/ASE Mid 40 numbered 723, posting turnover of 2.5 billion drachmas.

Contracts closed as follows: expiring March at 906; and expiring April at 910.

Players focus on long-term bonds, turnover edges up: Players in the domestic secondary bond market focused their attention on 15- and 20-year paper, mostly shunning 10-year securities, and turnover crept up but remained low, traders said.

The Greek benchmark 10-year bond showed a yield of 6.41 percent from 6.43 percent a day earlier and 6.44 percent on Tuesday.

The paper's yield spread over German bunds was 100 basis points after fluctuating between 97 and 100 basis points in the previous session, and ending at 99 basis points, from 96 to 97 basis points in the preceding two trading days.

Trade through the central bank's electronic system totalled 45 billion drachmas from 36 billion drachmas a day earlier and 86 billion drachmas on Tuesday.

In Thursday's trade, buy orders accounted for the bulk of turnover and sell orders the remainder.

Analysts said there was little room for the yield spread over bunds to drop in the near future, and that even a central bank rate cut of 75-100 basis points, anticipated in March, would have little impact on the market.

Drachma noses up vs. euro in tight liquidity: The drachma edged up against the euro on Thursday, aided by tighter liquidity in the domestic money market.

In the previous session, the Bank of Greece had stepped into the interbank market, soaking up 350 billion drachmas in order to help stabilize the drachma's depreciation against the euro in domestic foreign exchange trade.

As a result, short-term interbank rates had jumped by about 100 basis points, helping to stave off market pressure for a faster depreciation of the drachma than the central bank was willing to allow.

At the central bank's daily fixing on Thursday, the euro was set at 333.840 drachmas from 333.900 drachmas a day earlier and 333.800 drachmas on Tuesday, when the national currency had lost 1.07 percent against the euro since the start of the year.

Also at the fixing, the US dollar was set at 335.770 drachmas from 332.150 drachmas in the previous session and 333.400 drachmas on Tuesday.

[14] Hellenic Petroleum president holds

Hellenic Petroleum president Eleftherios Tzellas held talks with representatives of major international financial and investment firms on the sidelines of a conference on the Greek economy held in London's City financial district.

The talks focussed on the second flotation of Hellenic Petroleum stock, while prospects for collaboration in programs throughout Southeast Europe were also examined.

Tzellas and the other financial officials further reviewed prospects for exploitation of known hydrocarbon deposits in the wider region of the Mediterranean and Middle East.

Tzellas told the officials that Hellenic Petroleum's target was further expansion, and materialization of its immense -- for Greece -- 570 billion dr. investment program for the period 2000-2004 that includes acquisition of full control over the Public Natural Gas Organization (DEPA), the completion of petrochemicals manufacturing units -- the only integrated units of their kind in the Balkans -- further improvement of the company's production of environmentally-friendly fuels, upgrading of its refinery in Thessaloniki, and substantial involvement in the field of electricity production.

The Hellenic Petroleum president said in response to questions by British journalists that his international contacts were part of the plan for the company's evolution from a petrol manufacturer into an integrated energy group.

[15] India the focus of latest IIER Athens seminar

Athens, 25/02/2000 (ANA)

Among the speakers were Ishwar Prasad, Minister of the Embassy of India, who was joined by foreign correspondent Nawab Khan and "Kathimerini" journalist Giorgos Kapopoulos.

"I look upon Greece as primarily European in character with an eastern, in thinking, approach. India knew Greece socially, philosophically and culturally for ages...For Indians, Greece looks far away, though, as visas are difficult to obtain," Prasad told an audience at a downtown Athens hall.

"Greece has granted only 4,400 visas a year to India, a relatively small number," he added.

In terms of bilateral economic relations, figures pointed to a distinct trade imbalance, as Greek exports to India totalled only about 10 million dollars in 1998, as opposed to imports from the south Asian country of roughly 110 million dollars. In addition, the gap has tripled since 1994, speakers noted.

Computer software and hardware was cited as a major Indian export to Greece, while Prassad said the transfer of aquaculture technology could work well in his country.

The Asia 2000 program, which organized the seminar, focuses on meeting the ever widening "information gap" related to the dynamic markets of Asia, as well as to support the development of Asian studies in Greece. Upcoming seminars will focus on Japan, South Korea, India and the SE Asian states.

The Greek Association of SA and Ltd. firms in 1993 founded the Institute.

[16] Gov't dismisses reports of fallout with Sofia over OTE designs in neighboring country

Government spokesman Dimitris Reppas said the issue involves negotiations between OTE and the Bulgarian Telecommunications Organization (BTO).

He added that Athens' support of Bulgarian's membership in both NATO and the European Union, along with the promotion bilateral economic ties and direct investments in the neighboring country underline this positive climate.

"Relations between Greece and Bulgaria are on solid ground, in order to continue in the future to be just as positive," he said.

[17] OTE, Bank of Piraeus forge strategic deal

Athens, 25/02/2000 (ANA)

The Bank of Piraeus Group, which is listed on Athens Stock Exchange, comprises the Bank of Piraeus, Chiosbank, Macedonia-Thrace Bank and Piraeus Prime Bank.

OTE, an active stock on the Athens bourse, will install and operate a telecoms system for Piraeus that is to ensure the support of new applications and allow unhindered communication between the group's 160 branches and data processing centers.

The equipment will allow expansion of the network and support both applications and electronic networks for the distribution of products and services, including Internet banking, mobile banking and e-commerce, OTE said in a statement.

[18] New 1000-drachma banknote in October dedicated to Olympic Games

Athens, 25/02/2000 (ANA)

George Bolos, marketing director of the "Athens 2004" Olympiad's Organizing Committee, told a news conference the special issue will include three different subjects, each in three million copies. They are the first Olympic Games in 776 BC and the stadium at Ancient Olympia, the first modern-day Olympics in 1896 and the Athens 2004 Olympiad.

The banknote will bear the sign of the Athens Olympiad and revenues received will also contribute to organizing the 2004 Olympiad. The first commemorative coins for the 2004 Olympics are also expected to go into circulation in the summer.

[19] Faculty of Modern Greek studies to be established at Istanbul University

ISTANBUL, 25/02/2000 (ANA - A. Kourkoulas)

Welcoming Alemdaroglu, Athens University rector Constantine Dimopoulos and other Athens University officials currently in Istanbul, the Ecumenical Patriarch referred to the new climate in Greek-Turkish relations and expressed the wish that it will be stable without any retrogression.

Dimopoulos and the other Athens University officials are in Istanbul at the invitation of their Turkish counterparts who had visited Athens recently.

[20] Study on Mediterranean seal released

Athens, 25/02/2000 (ANA)

The main actions of the LIFE-Nature project were undertaken on the islands of Milos, Antimilos, Kimolos, Karpathos, Kasos, Fournoi, Samos, Ikaria and Zakynthos, and included a systematic monitoring of populations and an environmental education program for 5,500 pupils.

MOm also prepared comprehensive management plans for all areas and submitted special environmental studies to the European Union, the competent ministries and local authorities.

[21] European Parliament president expresses concern over continuing Turkish occupation

NICOSIA, 25/02/2000 (CNA/ANA)

In a reply letter to Theresa Villiers, MEP for London, Fontaine further noted that she is keeping in touch with developments on the Cyprus question.

"Like you, I am extremely concerned about the occupation of the northern part of the island which has lasted for over 25 years", Fontaine said.

She reminded that the Parliament "has repeatedly condemned this state of affairs and expressed its support for a just and lasting settlement of the political problem, in accordance with the UN resolutions".

"As Cyprus moves towards joining the European Union, I sincerely hope that the new talks between President (Glafcos) Clerides and the leader of the Turkish Cypriots, (Rauf) Denktash, will achieve positive results that will result in benefits for both communities and peace and stability in the region", she added.

In her letter, Villiers had called for Fontaine's support to a European Parliament petition which she will be organizing shortly, "expressing deep regret at the continuing division of Cyprus, urging all parties to give their best efforts to finding a solution and calling for a swift settlement of the island's long running problems".

Fontaine said that Villiers' initiative on the Cyprus problem "could take the form of a resolution or a written declaration".

Cyprus has been divided since 1974 when Turkish troops invaded and occupied the island's northern third.

[22] Greek and Turkish Cypriot rights activists to meet

NICOSIA, 25/02/2000 (CNA/ANA)

This will be the second out of four meetings planned under the auspices of the Council of Europe. The Bratislava meeting is co-organized by the Slovak Embassy in Nicosia and the non-governmental Slovak National Center for Human Rights.

Participants at the Bratislava meeting will be members of the International Association for the Protection of Human Rights in Cyprus and the Turkish Cypriot Rights and Freedoms Association.

The meeting will focus on freedom of movement and settlement on the island of Cyprus and freedom of speech with a view to promote this right at home and abroad.

A press release issued here Thursday by the International Association for the Protection of Human Rights in Cyprus said in a joint press release issued after the end of the first meeting held in January 2000, in Strasbourg, participants pledged to work for the protection of human rights in Cyprus in the bases of the European Convention for the Protection of Human Rights.

[23] Government refuses comment on surveillance reports

NICOSIA, 25/02/2000 (CNA/ANA)

Meanwhile Defense Minister Socrates Hasikos said Thursday his Ministry has asked, through the Foreign Ministry, for "certain clarifications from the British" on the issue.

A Bases statement refrained from commenting on the significance or purpose of signals units in Cyprus but acknowledged that British facilities here have always been "an important technical link in the worldwide communications organizations."

The comments come in the wake of Wednesday's debate in a European Parliament Committee which heard that a monitoring system, code-named "Echelon", has one of its main earth stations within the British Bases, territory which Britain has retained since it granted Cyprus its independence in 1960.

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