Athens News Agency: Daily News Bulletin in English, 00-03-10

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

CONTENTS

[01] Greece submits application for EMU entry, Premier says membership sought by virtue of country's achievements

[02] European Commission welcomes Greece's EMU application

[03] Greece-FYROM-Albania committed to security and stability in SE Europe, joint statement says after trilateral meeting

[04] Greek, FYROM FMs cite concerns over developments in

[05] Greek FM visits Greek minority in Albania

[06] NATO secretary general satisfied with course of confidence-building measures between Greece and Turkey

[07] V.PRC poll gives PASOK slim nationwide lead within 'error margin'

[08] Parties present election tickets

[09] ND leader presents plan for supporting small and medium-size enterprises and self-employed

[10] Tsohatzopoulos comments on Vougias choice for PASOK state deputies list

[11] German president to visit Greece in April

[12] President receives new ambassadors to Athens

[13] Greek stocks end volatile session flat

[14] Capital Markets Commission calls for share price manipulation probe

[15] Hellenic Portfolio Investment Co's profits 8.2 billion drs Jan-Feb

[16] Contract worth 28.5 billion drachmas signed for various vehicles for armed forces

[17] EU to take Greece to court over VAT breach

[18] Labor Informatics company acquires 10 percent stake and a seat in the Israeli Venture Capital Catalyst's board

[19] Passenger ship owners, seamen agree on pay rise for 2000

[20] State telecom's CEO to speak at NY conferences

[21] Benefits of flexible work schemes challenged

[22] Thessaloniki court temporarily bans book at center of religious groups' ire

[23] Thessaloniki to host international women's festival in September

[24] Bacchanalia once again in the ancient Greek god's birthplace

[25] Request for Athens 2004 Olympic Games to start in July instead of August

[26] Cyprus signs protocol establishing diplomatic relations with Bosnia Herzegovina

[27] Greek and Turkish Cypriot party leaders call for 'a unified state'

[28] Clinton report to Congress over Cyprus reiterates US support for bizonal, bicommunal solution

[01] Greece submits application for EMU entry, Premier says membership sought by virtue of country's achievements

Athens, 10/03/2000 (ANA)

The efforts and sacrifices of the Greek people have borne fruit, Simitis told an event at the Zappeion Mansion.

In letters by Prime Minister Costas Simitis to his EU counterparts and by National Economy and Finance Minister Yannos Papantoniou to Portuguese Finance Minister Pino Mora, who currently chairs the EU's council of economy and finance ministers (ECOFIN), and EU Commissioner for economic and monetary affairs Pedro Solbes, all dated Thursday, March 9, Greece formally applied for euro zone entry and adoption of the common European currency 'euro' as of January 1, 2001, in accordance with Article 122 (paragraph 2) of the EU Treaty.

In his letters, Papantoniou outlined the substantial progress achieved by the Greek economy, noting that Greece's GDP growth rate was well above the EU average, while harmonized inflation was running at near 2 percent.

Papantoniou further wrote that the Greek interest rates were very close to those of the euro zone, while the general state deficit was below the ceiling set out by the Treaty.

He also said adaptation of the labor market was progressing, adding that the Greek people and government desired Greece's full participation in Economic and Monetary Union.

Simitis: EMU membership the start of a new era for Greece: "Today we are closing a cycle and we are beginning a new one for Greece and its citizens", Simitis said at the event.

"We are joining Economic and Monetary Union (EMU) by virtue of our achievements and all the efforts and sacrifices of the Greek people have borne fruit," Simitis noted. EMU membership means a new environment for the country and its citizens. Greece would promote its vital economic and national interests inside the euro zone, Simitis said, stressing that "we are here today thanks to the responsible and stable policy choices we have made since 1993 and particularly after 1996".

Simitis paid tribute to two leading Greek statesmen, Constantine Karamanlis and Andreas Papandreou, who contributed decisively to the country's course towards European integration, as he noted. The first signed Greece's entry into the then European Economic Community (EEC) and the latter ensured community funds necessary for the country's development.

"We are closing a 25-year cycle of economic, social and political developments. The Greek economy has a prospect of long-term stability because foreign exchange risks are fading, interest rates are falling and the business environment becomes more stable," Simitis said.

The government pledged to change the course of the country in 1996 through stabilization, development and social justice policies. "We are proud to have achieved this triple aim without sacrificing any of its aspects. We are probably the only country to enter EMU that does not only cut but raises its social spending," the Prime Minister said.

"Achieving economic targets is not a rational conquest or a statistical success, but a social conquest. It directly benefits all citizens while an environment of low inflation and lower interest rates protects incomes and ensures economic growth," he said.

Simitis said approval of the country's application at an EU summit in Lisbon in June would help in pushing the country's course to a more stable and effective level.

He stressed, however, that progress did not end here.

"Efforts must be continued and enhanced to achieve the best possible results for the Greek people," Simitis said.

He underlined that the country needed a stable government after the April 9 general elections.

Papantoniou stresses economic achievements: National Economy and Finance Minister Yiannos Papantoniou, addressing the same event, said EMU membership signaled the start of a new era of creativity and progress for the country.

He also stressed that Greece was joining EMU on its own merits with no political conditions or commitments following the fulfillment of all EMU convergence criteria.

"Economic progress was significant, the public debt fell, inflation is much lower compared with the previous years, while productivity and wages have increased," Papantoniou said.

The Greek citizen's average income, at 62 percent of the EU average in 1993, now stands at 70 percent.

"We have created a strong economy and now we can build the land of our vision," Papantoniou said.

[02] European Commission welcomes Greece's EMU application

BRUSSELS, 10/03/2000 (ANA-M. Spinthourakis)

In a joint statement, the two Commission officials said an expanded EMU region was auspicious both for the existing 11 member countries and new members.

They noted that the application came on the heels of a November 1999 endorsement of Greece's EMU candidacy by the EU council of economy and finance ministers (ECOFIN), when Greece was removed from the list of "excessive deficit" states, and following the revised convergence program for the Greek economy issued in January 2000.

A Commission spokesman, outlining the timetable for entry, said that the European Commission's report on Greek euro zone entry would be issued simultaneously with a similar report by the European Central Bank on May 3, 2000.

The EU Economic and Monetary Affairs Committee would table the two reports for approval at their June 5 meeting, after which they would go to the European Parliament for endorsement.

The final step in the approval process was endorsement by the EU summit to be held in Lisbon on June 19-20, the spokesman said.

Mixed reaction by Opposition parties to Greece's application for EMU entry: Greece's application for entry to the Economic Monetary Union (EMU) of the European Union on Thursday, elicited mixed reactions by opposition parties.

Main opposition New Democracy (ND) parliament deputy Giorgos Alogoskoufis criticized the government on behalf of his party for the means it used to achieve Greece's entry to the EMU.

"The importance of this day is overshadowed by the fact that the government proceeded toward the aim of entering the euro-zone using clearly fundraising means, such as increased taxation over the past several years and simple privatization of public enterprises," he said.

He also accused the government of policies which, as he said, delayed entry to the EMU by two years, adding, that the problem facing the Greek citizen "is not just to have a strong currency in his pocket, such as the euro ...(but) to have as many euro in his pocket as the average European citizen.

"At present, for every 100 euro of the average European citizen, a Greek has only 66. The aim of real convergence would be for us to reach the 100," he added.

Departing from ND's criticism, the Communist Party of Greece (KKE) issued a press release noting that "today is indeed a historical day for the wealthy ruling class", being clearly opposed to Greece's application for entry to the EMU.

"The policy of the Greek economy's accession to the EMU, spells dark days for the people, more hardship, an increase in unemployment and poverty, greater austerity, the speeding up of the sell-off of enterprises and agencies, as well as the privatization of the social security system," the press release stated.

The Democratic Social Movement (DHKKI), in its press release criticized the government of an "effort to hide the unacceptable new national concessions in Helsinki, as well as its commitments for harsher economic policy against the people regarding the post-EMU era".

On its part, the Liberals party leader Stephanos Manos underlined the contribution of the Constantine Karamanlis, George Rallis, Constantine Mitsotakis and Simitis' governments in this positive development "which satisfied most Greeks".

Time period for Greece's euro-zone entry bid: Following is a schedule for Greece's bid to join the 11-member euro zone on January 1, 2001.

· March 9: Greece submitted its euro-zone application to European Union Commission President Romano Prodi and Monetary Affairs Commissioner Pedro Solbes. The application contains economic data to demonstrate that the country has met the EU's five Maastricht entry criteria on inflation, interest rates, deficits, the public debt and a stable currency

· May 3: The European Commission and European Central Bank will release their reports on the economic data contained in Greece's entry bid

· May 26: The EU's monetary affairs committee will evaluate the two reports and make a recommendation to the 15-nation EU's finance ministers (ECOFIN)

· June 5: The ECOFIN group of ministers will convene to make its own recommendation, based on that of the monetary affairs committee, also seeking a recommendation from the European Parliament

· June 19-20: EU leaders will study ECOFIN's recommendation at a summit in Lisbon and announce the final decision on whether or not Greece qualifies to join the euro zone

[03] Greece-FYROM-Albania committed to security and stability in SE Europe, joint statement says after trilateral meeting

KORCE, Albania, 10/03/2000 (ANA)

The communique was issued after a meeting of the three countries' foreign ministers in the Albanian town of Korce Wednesday, which they hailed as a new step forward in their cooperation and which followed a groundbreaking trilateral summit in the Prespes Lakes region of Greece in February.

Following is the full text of the joint statement:

"The Ministers of Foreign Affairs Mr. Paskal Milo (Albania), Mr. George Papandreou (Greece) and Mr. Aleksandar Dimitrov (FYROM) met on March 8, 2000 in Korce and Ohrid, and exchanged views on the implementation of the Stability Pact for Southeastern Europe, on other projects of common interest, on the current situation in the region, and on the possibilities for the further promotion of regional cooperation. The Ministers considered the meeting as a new step forward in the cooperation between the three countries, as a follow-up of the Prespa meeting of July 14, 1999 and of the positive spirit of the first meeting of the Prime Ministers Ilir Meta (Albania), Ljubco Georgievski (FYROM) and Costas Simitis (Greece) in Prespa on February 2, 2000.

"The Ministers reiterated their firm commitment to work together for achieving security, stability and prosperity in Southeastern Europe, based on the principles of respecting sovereignty and territorial integrity, inviolability of the borders, and respect of human rights and fundamental freedoms.

"The Ministers appreciated the current level of cooperation between the three countries and underlined the need for its intensification in institutional ways. In this context, they agreed to continue the cooperation, aiming at a possible creation of a pivotal trilateral free circulation zone in the area of Prespa, promotion of eco-tourism projects of common interest in the same area and, in the framework of the existing trilateral trans-border cooperation, to encourage the local authorities towards further strengthening their ties.

"The Ministers welcomed the active participation of the States, International Organizations and institutions in the Stability Pact for Southeastern Europe. In this context, the Ministers considered the Regional Financing Conference, to be held in Brussels on March 29-30, as an important indicator of the commitment of the International Community to assist the transition and the progress of Southeastern European countries on their way towards sustainable democracies, and open and developed economies.

"On this occasion, they welcomed the commitment of the Greek government to allocate financial resources to the projects with respect to its direct contribution to the stability of the region.

"The Ministers of Foreign Affairs Mr. Milo and Mr. Dimitrov expressed their expectations that the forthcoming Brussels conference would give concrete results and in this context they reaffirmed their readiness for coordinated efforts in the conference, in order to obtain the maximum support possible, as countries most affected by the crisis.

The Minister of Foreign Affairs Mr. Papandreou, appreciating the steps of the two neighboring countries towards European integration, underlined the support of his government to this process as well as to the expectations of the two countries from the Brussels conference.

"They welcomed the recent upgrading of the European Community Office in Skopje to the level of Delegation, as well as the start of negotiations for conclusion of the Stabilization and Association Agreement.

"The Ministers exchanged views on the problems regarding security in Southeastern Europe. They considered that closer cooperation with NATO in the framework of EAPC and PfP (Partnership for Peace) has a crucial importance in the promotion of peace, security and stability in their countries and in the whole region. The three Ministers also expressed their conviction that the strengthening of the cooperation between the countries in the region is necessary for the fight against organized crime, corruption, illegal trafficking, through a common legal framework based on European standards, adherence to International Conventions and an intensive coordination of actions in these fields.

"The Ministers expressed their appreciation for the recent invitation by Minister Milo to participate at a meeting of Ministers of Foreign Affairs in Tirana to discuss cooperation and the role the countries of the region should play in the framework of the NATO SEEI (NATO SE Europe Initiative).

"The Ministers reaffirmed that they would continue their support for the full implementation of the UN Security Council Resolution 1244 and for the efforts of UNMIK and KFOR to establish a safe environment for all citizens irrespective of their ethnic, religious and cultural background in Kosovo. They also expressed their belief that the Joint Interim Administrative Structure would pave the way for a pluralistic, multiethnic, multireligious and democratic society in Kosovo. Thus the rights of all citizens, all ethnic and religious communities will be fully and equally respected. In this context, the Ministers expressed their grave concern on the current situation in Mitrovica and denounced all use of violence and extremism from whatever side.

"They welcomed the efforts of KFOR and UNMIK for stabilization of the situation, to build a local self-government, and (they) supported the moderate forces in this process.

"The Ministers underlined that the process of democratization in the Federal Republic of Yugoslavia would be of great importance for the stability of the whole region.

"The three Ministers agreed that their next meeting be held in Ohrid".

[04] Greek, FYROM FMs cite concerns over developments in

Tension in northern Kosovo and southern Serbian was the focal point of a joint press statement issued here on Thursday following a meeting between Greek Foreign Minister George Papandreou and his FYROM counterpart Aleksandar Dimitrov.

The two men met in the southeastern Albanian town on the sidelines of a trilateral meeting that also included Albanian FM Paskal Milo, their host in Albania.

The two ministers "expressed their deep concern regarding the possible negative impact on the security and stability of the region by the deterioration of the situation in the three communities, those of Presevo, Bujanovac and Medvedje in south Serbia, Federal Republic of Yugoslavia," the joint statement read.

"Ministers Papandreou and Dimitrov once more that they condemn violence and extremism and agreed to follow closely the developments and continue consultations if necessary."

[05] Greek FM visits Greek minority in Albania

GJIROKASTER, 10/03/2000 (ANA - P. Barkas)

As part of contacts with the minority in Albania, Papandreou visited the offices of the ethnic Greek "Omonoia" organization in the city of Gjirokaster and stressed "the change in spirit in cooperation between the two governments and in relation to the Greek minority in particular."

Papandreou visited the town of Dervitsani together with Albanian Prime Minister Ilir Meta, who was accompanied by two of his ministers. Papandreou and Meta called at the local school where Papandreou talked with pupils about their plans and future prospects.

Papandreou said Greece's relations with Albania are "excellent", adding that an expression of this climate is "the first joint visit to the Greek minority by the Greek foreign minister and the Albanian Prime Minister."

Papandreou said that "we are cooperating on Albania's European vocation and its accession to NATO at some time", adding that "we want the prosperity of the Albanian people, peace and security in the Balkans and respect for human and minority rights."

Meta acknowledged Greece's aid to his country and expressed support for the continuation of progress in Greek-Albanian relations. He termed Papandreou a friend and "one of the most open-minded and energetic politicians for Balkan development."

Referring to the Greek minority, he said "the standard of living of the Greek minority and of the other minorities in Albania needs improvement. The Albanian government is among the first to respect minority rights but, with the country's economic and social progress and the strengthening of the state, the Greek minority will enjoy all the rights it has dreamed of."

Papandreou, who danced local dances with young men and women, later visited the village of Vouliarati where he laid a wreath at the cemetery where Greek soldiers killed in the 1940 war with Italy are buried.

[06] NATO secretary general satisfied with course of confidence-building measures between Greece and Turkey

Robertson, currently visiting Turkey to discuss issues concerning European defense, also expressed his full support for Greek-Turkish rapprochement and thanked Greek Foreign Minister George Papandreou and his Turkish counterpart Cem for their efforts in Greek-Turkish relations.

Referring to the European security and defense identity, Robertson said that Turkey has not been isolated from the European defense apparatus and stressed that all NATO member-states should participate in it.

Apart from Cem, Robertson also held talks with Turkish Defense Minister Sabahattin Cakmakoglu, while on Friday he will be visiting Antalya to participate in the International Cooperation and Security Conference.

[07] V.PRC poll gives PASOK slim nationwide lead within 'error margin'

Athens, 10/03/2000 (ANA)

The nationwide poll, conducted by V.PRC between February 12 and March 5, showed PASOK leading with 37 percent, followed by main opposition New Democracy party with 34.9 percent, the Communist Party of Greece (KKE) with 5.1 percent, the Coalition of Left and Progress (SYN) with 4.4 percent, the Democratic Social Movement (DHKKI) with 4.5 percent, Political Spring (which is not contesting the April 9 general elections) with 0.6 percent, and former ND minister Stephanos Manos' Liberals Party (which is collaborating on the ND candidate tickets) with 0.3 percent.

The figures for Political Spring and the Liberals concern the period before the former's announcement that it would not contest the elections and the latter's announcement of electoral cooperation with ND, the newspaper noted.

According to the poll, PASOK had a 2.1 percentage point lead over ND, but the lead was within the poll's "statistical error margin" of plus/minus 2.4 percentage points.

The poll further showed that a majority 57.2 percent of respondents, regardless of personal party affiliations, believed that PASOK would win the April 9 early general elections, compared to 25 percent that saw an ND victory.

[08] Parties present election tickets

Athens, 10/03/2000 (ANA)

The Communist Party of Greece's (KKE) had announced its ticket on Wednesday, while the ticket of the Coalition of the Left and Progress is expected to be announced over the next few days

[09] ND leader presents plan for supporting small and medium-size enterprises and self-employed

Athens, 10/03/2000 (ANA)

"The fact that at present the vast majority of small and medium-size enterprises lacks the possibilities of funding by EU funds is extremely negative. This situation can go no further. Solutions exist and it is our decision to promote them immediately," he said.

Karamanlis referred to ND's plan on developing the creativity of small and medium-size businessmen, self-employed professionals and the tourism industry. The plan includes promoting special measures for protection against illicit competition, measures for developing cooperation between businesses and a drastic decrease in taxation.

[10] Tsohatzopoulos comments on Vougias choice for PASOK state deputies list

Athens, 10/03/2000 (ANA)

Tsohatzopoulos called the Vougias choice as surprise, while forecasting that the exclusion in the state deputies list of a veteran PASOK cadre from the Thessaloniki area and the party's affiliated youth wing would result in certain intra-party criticism. The Greek minister was responding to a reporter's question on the sidelines of the 14th West European armaments group general directors conference in the northern Greek city.

Individuals selected for the state deputies' list are elected to Parliament based on a party's nation-wide electoral strength and each candidate's position on the respective party's list.

The top name on PASOK's list is long-time party cadre and former Euro-MP Paraskevas Avgerinos, followed by Aggeliki Laiou, finance deputy minister Nikos Christodoulakis, Christina Spyraki, Vougias, close PM adviser Theodoros Tsoukatos, Mihalis Neonakis, Elias Efthimiopoulos, Tzanetos Karamihas, Julia Dimakopoulou, Anna Fragoudaki and Constantinos Tsoukalas. The first six to seven candidates would normally be elected under the PASOK banner.

Vougias, a popular urban transportation expert and local university professor, earned an unprecedented 18 percent share as a small party-backed candidate in the last Thessaloniki mayoral race. He was supported by the Coalition of the Left and Progress (Synaspismos) for the mayor's contest, the same party that on Wednesday criticized his decision to accept a spot on the PASOK ticket.

[11] German president to visit Greece in April

Athens, 10/03/2000 (ANA)

[12] President receives new ambassadors to Athens

Athens, 10/03/2000 (ANA)

New ambassadors of Nigeria Nohita Oguewu, China Zhen Jianguo, Tunisia Al Hachani, Nepal Indra Bahadur Singh and Singapore Walter Woon, presented their credentials during an event, also attended by Deputy Foreign Minister Grigoris Niotis.

[13] Greek stocks end volatile session flat

Athens, 10/03/2000 (ANA)

The general index ended 0.05 percent lower at 4,865.63 points, off the day's highs of 4,997.99 and the day's lows of 4,816.46 points.

Traders said the submission of a formal application for EMU membership by the Greek government boosted sentiment in the market and led investors to selective buying early in the session.

The FTSE/ASE 20 index for blue chip and heavy traded stocks ended 0.05 percent lower at 2,742.46 points, while the FTSE/ASE 40 index ended at 713.67 points, off 0.55 percent.

Turnover was a low 190 billion drachmas.

Sector indices ended as follows: Banks: 9,343.81 +0.28% Leasing: 1,102.19 +1.92% Insurance: 3,249.00 -0.55% Investment: 2,418.19 +1.80% Construction: 2,246.22 +0.84% Industrials: 2,878.07 -0.21% Miscellaneous: 5,526.43 -1.01% Holding: 4,894.87 -1.34%

The parallel market index for smaller capitalization stocks ended at 967.34 points, off 1.95 percent.

Broadly, decliners led advancers by 192 to 142 with another 12 issues unchanged.

Sportsman, Themeliodomi, Technodomi, Naftemporiki, Aktor, Electra and Kyriakidis scored the biggest percentage gains.

Athinea, Esha, Sarantopoulos, Hadzikraniotis, Giannoussis and Metalplastic ended at the day's 10.0 percent limit down.

Intrasoft and Athens Water were the most heavily traded stocks

Leading shares' closing prices (in Drs): Alpha Credit: 25,000 National Bank: 23,710 Commercial Bank: 21,460 Årgobank: 8,985 Eurobank: 12,090 Heracles Cement: 8,780 Hellenic Petroleum: 4,535 Intracom: 16,180 Minoan Lines: 7,400 Hellenic Telecoms: 10,470 Panafon: 5,850 Titan Cement: 15,050

Derivatives prices end lower: Futures contract prices ended lower on Thursday on the Athens Derivatives Exchange following a decline in the two benchmark indices FTSE/ASE 20 and FTSE/ASE 40, which ended 0.05 and 0.55 percent lower respectively.

A total of 1,651 contracts were traded on the FTSE/ASE 20 market, worth 9.2 billion drachmas. The March expiring contract ended at 2,765 points, the April contract at 2,798 points, the May contract at 2,820 and the June contract at 2,846 points.

A total of 732 contracts were traded on the FTSE/ASE 40 market, worth 2.1 billion drachmas. The March expiring contract ended at 710 points, the April contract at 734, the June at 770 and the September contract at 840 points.

Bonds pick up steam in higher turnover: Bonds in the domestic secondary market on Thursday gained momentum following other markets in Europe, but the rise was more cautious, traders said.

In Athens, buying interest early in the session turned into profit taking with players preferring to rake in early gains.

In the previous session, the market had brushed off a cut in key central bank intervention rates of up to 75 basis points after already discounting the move.

In Thursday's trade, the Greek benchmark 10-year bond showed a yield of 6.26 percent from 6.33 percent a day earlier and 6.32 percent on Tuesday.

The paper's yield spread over German bunds was 91 basis points from 88-89 basis points in the previous session and 89 basis points on Tuesday.

Trade through the central bank's electronic system totalled 85 billion drachmas from 56 billion drachmas a day earlier and 60 billion drachmas on Tuesday.

Buy orders accounted for 50 billion drachmas of Thursday's turnover.

Warburg Dillon said in a market report for customers earlier this week that Greek 15- and 20-year bonds were attractive buys for investors.

Drachma firms vs. euro, dollar: The drachma rose against the euro and the US dollar in the domestic foreign exchange market on Thursday.

At the central bank's daily fixing, the euro was set at 333.530 drachmas from 333.570 drachmas in two previous sessions and 333.690 drachmas on Monday.

Also at the fixing, the US dollar was set at 346.720 drachmas from 348.810 drachmas a day earlier and 347.370 drachmas on Tuesday.

[14] Capital Markets Commission calls for share price manipulation probe

Athens, 10/03/2000 (ANA)

It called in particular for the probe to focus on transactions conducted during the last half-hour of Thursday's session.

In a statement later, National Economy Minister Yiannos Papantoniou said certain phenomena during Thursday's trading seemed to be outside the realm of economic logic.

"Developments in international markets and in Greece cannot explain the strange phenomena taking place in the Athens Stock Exchange. Today's events seem to be outside the realm of the economy," he said.

[15] Hellenic Portfolio Investment Co's profits 8.2 billion drs Jan-Feb

Athens, 10/03/2000 (ANA)

The company's internal share value was 2,226 drachmas at the end of February and is currently traded at a discount of 3.9 percent compared with a 2.6 percent premium two weeks ago.

EEEX plans to pay 300 drachmas per share dividend to shareholders, for a dividend yield of 14.3 percent.

The company's portfolio focuses in shares of the banks, IT telecommunications, publications, commerce and insurance sectors, all accounting for 52.5 percent of its equity portfolio.

[16] Contract worth 28.5 billion drachmas signed for various vehicles for armed forces

Athens, 10/03/2000 (ANA)

The contract anticipates the procurement of 338 trucks, 224 jeeps and 28 vehicles for carrying MLRS missiles. Following this development, the total value of orders placed by the National Defense Ministry with ELBO in the past three years amounts to 145 billion drachmas.

National Defense Minister Akis Tsohatzopoulos, who attended the event, told ELBO employees that the company's minority share package will be provided for a strategic investor, while the Hellenic state will maintain an increased majority.

[17] EU to take Greece to court over VAT breach

BRUSSELS, 10/03/2000 (ANA)

The breach is contained in national law concerning the settlement of VAT rebates on goods destroyed, lost or stolen for which the buyer has been compensated, for example by an insurance company, the Commission said in a statement.

The statement added that Greece had failed to comply with a reasoned opinion it was sent by the Commission in November 1999 on the same matter.

[18] Labor Informatics company acquires 10 percent stake and a seat in the Israeli Venture Capital Catalyst's board

Athens, 10/03/2000 (ANA)

The Catalyst company develops investment activities in high-technology businesses, as well as in mature companies, primarily in Israel, which are at the stage of listing in the stock market.

With its 10 percent stake, the Labor Informatics company secures a seat in both Catalyst's board and Advisory Council.

[19] Passenger ship owners, seamen agree on pay rise for 2000

Athens, 10/03/2000 (ANA)

It was the first time since 1990 that pay talks were concluded before the start of the peak passenger-shipping season. Past deals were forged in July.

The leaders of both groups welcomed the swift conclusion of talks, which began this week.

[20] State telecom's CEO to speak at NY conferences

Athens, 10/03/2000 (ANA)

The first, a global telecoms conference for CEOs, is to be held on March 7-10, and the second, a global telecoms investor conference, on March 13-16.

Symeonidis will present the OTE group of companies, its growth in Greece and southeastern Europe, and plans for the future.

[21] Benefits of flexible work schemes challenged

Athens, 10/03/2000 (ANA)

"Data and research of international organizations such as the OECD no longer support views that flexible work schemes boost employment and productivity.

"On the contrary, findings suggest that flexibility often becomes counter-productive, that the proliferation of forms of insecure employment works as a trap lowering the overall level of skills. Higher employment protection levels are not related to an increase in unemployment and boost both employers' and employees' incentives for continuous training and upgrading of skills. Under certain conditions, they also boost labor productivity," he said in an address at the National Labor Institute.

Papaioannou noted that in 10 years' time 80 percent of technology now used by companies in Europe would have been replaced but that 80 percent of workers who will then be using the new technologies are already at work. This necessitated a continuous upgrading workers' knowledge and skills, he added.

[22] Thessaloniki court temporarily bans book at center of religious groups' ire

Athens, 10/03/2000 (ANA)

A judge ruled that the book, entitled "M to the Nth Power", could not be sold in the court's jurisdiction of central Macedonia until at least May 16, when deliberations on the essence of the matter are scheduled to be pleaded by attorneys. The judge's decision cites a need to temporarily ban the book's sale in order to defuse the tension caused in Thessaloniki by fundamentalist Christian groups, whose members consider passages in the work referring to Jesus Christ as blasphemous and sacrilegious.

The Autocephalus Orthodox Church of Greece's Holy Synod has described the book as "blasphemous, hideous and vulgar", pointing to the passage written by former Coalition of the Left and Progress (Synaspismos) deputy Mimis Androulakis that hints at a possible sexual relationship between Christ and Mary Magdalene.

Demonstrators burned the book in Thessaloniki last month and a public prosecutor issued charges of "insulting a religion" against Androulakis and Kastaniotis, the publishing house, last week.

In reaction, the author accused the Church's leadership this week of "returning to the darkest page of its history".

Conversely, several political leaders, groupings, jurists and commentators in Greece have defended the author's right to freedom of speech, criticizing what some quarters have called a "mob-generated" attempt at censorship.

The novel is a study on misogyny in all aspects of life depicted through a series of fictional dialogues between women whose names all begin with the letter M.

A local Byzantine history professor is spearheading legal proceedings against the book.

[23] Thessaloniki to host international women's festival in September

Athens, 10/03/2000 (ANA)

The festival is organized by UNESCO, the European Union, the UNESCO Center for Women and Peace in the Balkans, the Association of Inter-Balkan Women's cooperation and the Municipality of Thessaloniki.

Taking part in the festival will be about 1,000 women from 30 countries of Europe, Asia and Africa. The women represent the fields of architecture, the fine arts, dance, music, cinema, literature, theatre and photography.

[24] Bacchanalia once again in the ancient Greek god's birthplace

Athens, 10/03/2000 (ANA)

A local club for the propagation of the region's folklore, organized once again a carnival same as those of long gone times dedicated to the once revered and god protector of Macedonia Bacchos-Dionysos. Following the ancient Greek tradition, initiated for the celebration of the only god of the Greek pantheon to be "born in Greece", the event will include a theatre of the street, literally mounted on carnival floats.

The leader of the carnival will utter criticisms good and bad for all current local and national affairs, as a chorus will repeat the usually unkind limericks. Those versed in ancient Greek drama, will recognize this event as a remnant of the birth of ancient Greek tragedy, which got their name for the Greek "tragos" = goat, for Dionysos' followers dressed in goatskins, and the word "ode" = song.

In any case the village of Panagia, or All Holy Mother of God-Christ, will host a traditional celebration of times gone by, but not quite forgotten, since they aided the local populace to voice its disdain toward authority even in the most difficult of times.

A warning, however, should be issued to those who do not like wine and understand Greek curses, as both are expected to be used in amounts seldom seen or heard of, even in this country of fun, dance, sun and criticism of all kinds of authority.

[25] Request for Athens 2004 Olympic Games to start in July instead of August

Athens, 10/03/2000 (ANA)

The written request noted that the Games will be hampered by obligations of soccer players to their teams, as the IOC plans to allow professional soccer players to participate in the Olympics for the first time, as was done in the Madrid Games for basketball players.

In an unrelated development, "Athens 2004" Games board of directors approved the financial results of 1999, noting that the balance of its in bank accounts amount to about 18 billion drachmas, while the estimated surplus is expected to reach at 7 billion drachmas.

Games Managing Director Costas Bakouris noted that the budget for the 2004 Games will be announced in April.

[26] Cyprus signs protocol establishing diplomatic relations with Bosnia Herzegovina

NICOSIA, 10/03/2000 (CNA/ANA)

Invited to comment on press reports claiming that Cyprus will not open an embassy in Bosnia after representations made by Turkey, the spokesman clarified that "the issue of opening embassies has never been raised."

He said however that Turkey did react negatively to the establishment of diplomatic relations between Cyprus and Bosnia Herzegovina.

[27] Greek and Turkish Cypriot party leaders call for 'a unified state'

NICOSIA, 10/03/2000 (CNA/ANA)

After a meeting between delegations of the two parties, Lyssarides read out a joint declaration reiterating their determination to work for "a unified state, with the basic freedoms and the rights of all its citizens safeguarded".

The declaration says both parties back the "demilitarization of the island" and points out that a solution of the Cyprus problem "should be sought under the aegis of the UN and within the framework of its resolutions and principles".

"To facilitate the process towards a solution, we support every measure that will bring the two communities together and we pledge to work together for the promotion of this solution," it adds.

The two parties believe "accession of Cyprus to the European Union offers a great hope to all and will act as a catalyst for the solution of the Cyprus problem and obviously it will be for the benefit of both communities".

The Social Democrats Movement and the T/C Patriotic Movement decided to co-ordinate activities "to promote a solution on the basis mentioned above, to support the accession of Cyprus to the EU, to organize activities to bring citizens of both communities together and to meet regularly".

Izcan described the meeting as "useful and helpful", noting that all aspects of the Cyprus issue and ways of building trust between the two communities were discussed.

He expressed support to the negotiations for a settlement of the Cyprus issue and said "all Cypriots, no matter what their origin is, want to live in our country".

The Turkish Cypriot politician, who has also had meetings with other Greek Cypriot parties, underlined that "we consider Cyprus as one country. We are not trying to create two states".

Turkish Cypriot leader Rauf Denktash, backed by Ankara is demanding the Cyprus peace talks that got underway in December last year aim at establishing a confederation of two states in Cyprus, contrary to UN resolutions stipulating for a bizonal, bicommunal settlement.

[28] Clinton report to Congress over Cyprus reiterates US support for bizonal, bicommunal solution

WASHINGTON, 10/03/2000 (ANA - T. ELLIS)

In the report, covering the period between December 1999 to January 2000, US President Bill Clinton reiterates Washington's position in favor of a federation solution. The report also emphasizes the recent commencement of proximity talks between the leaders of the island's two communities, as well as UN Secretary General Kofi Annan's assessment that both sides are viewing all angles of the problem with seriousness.

The Clinton report on Cyprus also mentioned his special envoy, Alfred Moses, and the latter's efforts at facilitating UN initiatives for a "comprehensive solution" to the problem.

"We welcome this significant procedure (proximity talks) and we will continue to work with the United Nations for the finding of a solution for all Cypriots, one based on a bizonal, bicommunal federation," the report concludes.

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