Athens News Agency: Daily News Bulletin in English, 00-11-22

Athens News Agency: Daily News Bulletin in English Directory - Previous Article - Next Article

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

CONTENTS

[01] Greece follows suit in implementing measures to confront Mad Cow disease

[02] Greek FM discusses Balkan-area cooperation and EU rapprochement with Yugoslav counterpart

[03] Kostunica expected on Mt. Athos monastic community in early Dec.

[04] Armenian President Kocharian begins Athens visit

[05] EU-Turkish partnership document proposed by Union presidency, Greek Alternate FM says

[06] Cem says EU like 'colonial governors'

[07] Eurodeputies briefed on EU-Turkey partnership agreement issue

[08] Papandreou tells Belgian newspaper Europe shares Greek concerns on Turkey's EU candidacy

[09] Defense minister praises importance of strengthening European security and defense policy

[10] Papantoniou discusses issue of German war reparations

[11] Israeli envoy to Athens comments on latest Mideast developments

[12] FYROM foreign minister in Athens on Wednesday

[13] Greek PM meets Labor minister and Health minister to discuss 'Network against poverty' policies

[14] PM congratulates medical doctor for reporting corruption

[15] IOC Coordination Commission due Wednesday for consultations with ATHOC, SOCOG due later in week

[16] Parliament speaker and Cyprus Parliament Committee meet to discuss Cyprus' EU accession, Cyprus issue

[17] IMF: Challenge for Greece is euro zone, drop in Balkan tension

[18] OECD shows guarded optimism over Greek economy

[19] Merchant marine minister reiterates resolve to deregulate sector

[20] Greek stocks find support, end sharply higher

[21] Local gov't tries to block bourse entry by Petrola

[22] FORTHnet in strategic partnership deal with Telecom Italia

[23] Development minister presents electric cars, natural gas buses in Athens

[24] Ecumenical Patriarch returns from US, Nepal, India tours

[25] Athens mayor calls for bid in Maria Callass personal items auction

[26] Film Archives of Greece celebrate 50th anniversary

[27] Cyprus pledges to contribute to EU rapid reaction force

[28] ESP head says not overly optimistic about Cyprus peace talks

[29] Turkish warplanes violate Cyprus' air space

[01] Greece follows suit in implementing measures to confront Mad Cow disease

Athens, 22/11/2000 (ANA)

Agriculture Minister George Anomeritis, Development Minister Nikos Christodoulakis and Healthcare Deputy Minister Christina Spiraki decided on a series of measures banning T-bone stakes imports from France, while they ordered all existing stock to be destroyed.

They also decided to ban importation and sales of animal feed containing suspect ingredients, the importation of animals over 2 years old, sperm or other byproducts of animals.

The measures are expected to be in force as of Wednesday.

Earlier in the day, government spokesman Dimitris Reppas said that the Greek government would do everything in its power to ensure that measures protecting public health from BSE were implemented. He also urged the EU to take particular note of the problems that have arisen, especially those that concern the health of consumers.

After tough negotiations that began on Monday evening in Brussels, the 15 EU farm ministers decided on Tuesday morning to extend inspections to all cattle above 30 months old that belong to high-risk groups, starting from January 1, 2001.

They also agreed to decide on ways of implementing a program of mandatory inspection for all animals above 30 months after July 1, 2001 in the near future.

In addition, the council decided to ban all meat and bone meal in animal feeds.

According to an ANA report from Brussels, Greek Agriculture Minister George Anomeritis commented on the decisions after the meeting, saying he was satisfied with the measures agreed by the ministers' council. The most important point about the decisions we reached, he added, was that we took overall community-wide measures without any national references.

Any national measures taken by individual countries would continue to hold until a firm community position was established, he said.

He also pinpointed animal feeds as the root cause of problems such as BSE and dioxin contamination. In this context, he said it was important for Greece that there had been no reference to fish meal, which was generally not considered dangerous, since Greece was among the foremost exporters of fish from fish farms and aquaculture.

[02] Greek FM discusses Balkan-area cooperation and EU rapprochement with Yugoslav counterpart

Athens, 22/11/2000 (ANA)

The meeting had focused on bilateral and regional cooperation, especially Greece's contribution to Yugoslavia's reconstruction and its rapprochement with Europe.

In statements afterward, Svilanovic announced that he would be visiting Sarajevo on Wednesday to discuss restoring bilateral ties with the Bosnia-Herzegovina government and the implementation of the Dayton Treaty.

Svilanovic also referred to Yugoslavia's relations with Albania, saying that it would play an important role in the region.

He expressed hope that relations between the two countries would be restored and commented on Albania's influence in the Kosovo region, saying that Albania was now ready to ensure the right conditions for the return of the entire population of Kosovo. He also pledged a complete amnesty for Albanian political prisoners in Yugoslavia, without racial distinctions.

Papandreou said that he and his Yugoslav counterpart had had "a positive discussion" on developments in Kosovo, Albanian-Yugoslav relations, and also relations between Serbia and Montenegro.

The foreign minister underlined the importance of regional cooperation between all Balkan countries "to create a Balkan peninsula for which we can all be proud," and for the promotion of democracy, peace and cooperation.

He said that he would be very glad to receive Svilanovic and Yugoslav President Vojislav Kostunica at a summit meeting of EU and western Balkan nations in Zagreb, which he hailed as "the start of a new era in relations between the EU and Balkan countries."

Svilanovic confirmed that the new Yugoslav government desired to establish friendly relations with its Balkan neighbors and Europe, while he thanked Greece for its support and assistance in re-establishing democracy.

[03] Kostunica expected on Mt. Athos monastic community in early Dec.

BELGRADE, 22/11/2000 (ANA - M. Mouratidis)

According to reports, Kostunica will travel to the Serb Orthodox Hilindariou monastery on Mount Athos to attend an all-night religious service.

Press reports from the Yugoslav capital also noted that Kostunica, the politician who ended Slobodan Milosevic's reign, may travel to the nearby northern Greek port city of Thessaloniki in order to lay a wreath at a World War I memorial honoring Serbia's war dead.

Kostunica is expected in Athens in the first half of December at the invitation of his Greek counterpart, although it remains un-known whether his northern Greece itinerary will coincide with the state visit to the Greek capital.

Several Eastern Orthodox monasteries are located on Mount Athos, an all-male community dedicated to the Madonna for a millennium.

[04] Armenian President Kocharian begins Athens visit

Athens, 22/11/2000 (ANA)

Shortly before the end of a meeting in Athens, Kocharian and his Greek counterpart Kostis Stephanopoulos signed a bilateral treaty on judicial cooperation.

"This is a very significant treaty that strengthens the spirit of cooperation between Greece and Armenia," Stephanopoulos told reporters afterwards, before stressing the traditionally good relations the two peoples have had over time.

On his part, Kocharian emphasized that his mountainous country desires good relations with all neighboring states, before focusing on what he called the "explosive" recent situation in the southern Caucasus. Finally, he said Yerevan's often strained relations with neighboring Turkey are not the fault of the former."

He also thanked Stephanopoulos for what he called Greece's support for Armenia in its quest to approach European political structures, adding that economic and political relations aren't only dependent on simply interests but are "heartfelt".

Asked if third countries, including Turkey, could conceivably have objections to closer Greek-Armenian ties, Kocharian said a "third or fourth side provides its own interpretation to these bilateral ties ... that's why our two sides declare from the start that the development of relations isn't aimed at any third party."

Stephanopoulos added that "I do not know of any third country that has objections. That would be ridiculous ... for any third country to interfere with relations that develop independently and autonomously by two separate states."

Later in the day, Kocharian visited Parliament President Apostolos Kaklamanis, who noted the historic bonds between Greece and Armenia "bonds that were forged through centuries of common struggles, pain and sacrifice and the brotherly feelings of Greeks toward the Armenian people".

On his part, Kocharian invited Kaklamanis to visit Erevan and thanked in his person Greece for its aid to Armenia's bid to join the Council of Europe.

[05] EU-Turkish partnership document proposed by Union presidency, Greek Alternate FM says

Athens, 22/11/2000 (ANA)

Responding to newspaper reports during an interview on a private radio station, Papazoi said Greece's success was exactly the fact that the other 14 EU member-states accepted Greece's proposals.

Papazoi's comments were made in light of newspaper reports that French Foreign Minister Hubert Vedrine said that "a member-state requested things that are beyond Helsinki and a third country does not want it".

Greece proposed that beyond the Helsinki decisions on Turkey's partnership the Union should include specific commitments by Turkey regarding the resolution of the Cyprus problem and its obligation to resolve peacefully its differences with others, Papazoi said, adding that Turkey does not accept that.

She said that the Turkish-EU partnership agreement remains unconcluded until the next Council of General Affairs, scheduled for Dec. 4.

"The important element in this case is for Turkey to prove that it really wants to be a candidate for accession to the European Union and to forge ahead with a series of changes that must take place in its domestic affairs, as well as changes in its foreign relations," Papazoi said.

"This is too great a load for Turkey, but it is a precondition, so as its candidacy to the Union may not be a mock one, something that many European countries seem to wish for, but a real one, so as for the negotiations with that country may be possible to begin in a specific moment in time," Papazoi stressed.

She concluded noting that Greece was not prepared to make any concessions to Turkey, since Greece's goal is for the EU and Turkey to facilitate a real candidacy for Turkey, something that cannot be achieved with threats against Greece, or with the continuing occupation of the northern part of Cyprus.

Greek government remains steadfast on its position on Cyprus issue and Greek-Turkish relations: Government spokesman Dimitris Reppas said on Tuesday the Greek government remains steadfast in its position that the issue of Cyprus and Greek-Turkish relations are essential elements regarding the text on the partnership relation between the European Union and Turkey.

Reppas was referring to the EU Council of Ministers leaving the taking of a decision on the issue for its next meeting on December 4.

He said Greece has no problem neither with the time of the issue's transfer nor with the possibility of the issue being discussed and decided on at a higher forum than the Council of Ministers, evidently implying that the issue can be raised and a decision taken at the summit in Nice.

Reppas said the text on the partnership relation should meet the letter and spirit of the decision taken at the EU Helsinki summit, adding that whatever reactions from Turkey to this will only result in the obstruction of rapprochement between the EU and Turkey.

He further said Greece's effort should be intensive since there are many conflicts on major interests in the region.

In another development, Reppas said Turkey's position is provocative regarding the planning and carrying out of the exercise codenamed "Taurus", to be conducted in occupied territory in Cyprus, adding that it is a negative element in relations between the two countries.

He said Greece and Cyprus are in constant contact through military and diplomatic services and in a state of readiness to handle any provocation.

Reppas said the exercise aggravates the atmosphere, since it is taking place shortly before the start of a new round of dialogue on Cyprus and in light of a final text being shaped on the partnership relation between the EU and Turkey.

[06] Cem says EU like 'colonial governors'

ISTANBUL, 22/11/2000 (ANA-A. Kourkoulas)

Addressing the 46th Joint Turkey-European Parliamentary Committee meeting in Antalya, Cem also said that the Union does not keep its promises to Turkey and reiterated that Turkey would not accept as a precondition to accession to the Union the resolution of the Cyprus problem.

He said that the "stance of the EU upsets the climate of trust with Turkey", adding that the inclusion of the Cyprus problem in the short term political criteria of the EU-Turkish partnership agreement at the final hour, had significant negative effects on the whole scope of EU-Turkish relations.

Addressing the same meeting, French Eurodeputy Philippe Morillon said that Cyprus couldnt be divided in two with a wall.

He added that if the decision was up to him, he would withdraw the Turkish occupation forces from the island republic, stressing that the role of the military in Turkey's political stage should gradually diminish, so as for the Turkish armed forces to assume the place fit for military forces within democratic institutions.

[07] Eurodeputies briefed on EU-Turkey partnership agreement issue

BRUSSELS, 22/11/2000 (ANA - Y. Zitouniati)

Addressing the Foreign Affairs Committee, Moscovici referred to the issue of Turkey's partnership agreement, given that the European Parliament, as he said, is particularly interested in this issue due to the recent report by French Eurodeputy Philippe Morillon.

Moscovici added that these issues are still under discussion and that a decision is expected to be reached at the Council of Foreign Ministers meeting on December 4.

[08] Papandreou tells Belgian newspaper Europe shares Greek concerns on Turkey's EU candidacy

BRUSSELS, 22/11/2000 (ANA - V. Demiris)

"We are setting no time limit in the partnership relation agreement (concerning Turkey and the EU). What matters is that it should be a good agreement," he said.

"We always wanted a good relation between Turkey and the EU. These two sides have undertaken considerable commitments. For the EU, a great deal of work is required to help Turkey follow the path to Europe and, for Turkey, a great deal of work is required to carry out the important reforms requested of it to achieve," he added.

Papandreou said it is clear that the changes are difficult, adding that if a relation exists one should be explicit on matters which have to be handled and relations of good neighborliness, both with Greece and Cyprus, are part of this relation.

"The new relations (between Greece and Turkey) are experiencing a honeymoon, as well as their difficulties. However, the will and the promise for the development of this new relation exist. We should proceed beyond euphoria and the expression of goodwill and pass into the most difficult period. Namely, we should see how we could shape cooperation with the European Union, with Greece, through, among others, a solution to the Cyprus issue. This is the challenge," Papandreou said.

[09] Defense minister praises importance of strengthening European security and defense policy

BRUSSELS, 22/11/2000 (ANA - Y. Zitouniati)

He said the political will for cooperation in this sector and the joint position on security issues all over the Mediterranean has been vindicated.

Tsohatzopoulos, who was attending a meeting of the European Union member-state defense ministers, hailed in particular Cyprus' contribution to European defense and security, adding that it also includes the "reverse message" on the EU's guarantee for security in the region of the Mediterranean.

During the meeting, Turkey expressed disagreement over the participation of Cyprus and expressed this in writing.

Presiding French Defense Minister Alain Richard said "the place is not suitable for a settlement of bilateral differences. There are other places for this", adding that "we are here to strengthen cooperation in the sector of European security and defense."

Tsohatzopoulos, replying to a relevant question, said that on the part of the EU Turkey's protest over Cyprus will have no continuation and will probably be shelved.

[10] Papantoniou discusses issue of German war reparations

BERLIN, 22/11/2000 (ANA - P. Stangos)

The massacre in the town of Distomo had been the work of Ger-man occupation forces in Greece during World War Two.

Speaking to Greek journalists accompanying him on his visit to Berlin, Papantoniou insisted that he does not desire the "creation of impressions" but made it clear that the two sides are aware of the issue and that the problem requires their joint handling, while they will utilize the time remaining until an appeals court reaches a verdict, expected in the next few days which will decide whether or not agreement is required by Greek Justice Minister Mihalis Stathopoulos for confiscation to be carried out, to create a joint plan to handle the crisis.

The two ministers agreed to brief their foreign minister colleagues and convey their positions to their heads of government, Prime Minister Costas Simitis and Chancellor Gerhard Schroeder.

"Eichel showed understanding and promised to study the issue," Papantoniou also said.

Berlin talks focus on Joint Greek-German business ventures in the Balkans: Joint Greek-German economic and business ventures in the Balkans topped the agenda of Greek National Economy Minister Yiannos Papantoniou during his discussions here with Finance Minister Hans Eichel and Economy Minister Werner Mueller.

The talks focused on conditions in the Balkans, based on Papantoniou's recent tour of Yugoslavia, Bulgaria and the Former Yugoslav Republic of Macedonia (FYROM) and on conditions in the Black Sea region.

At the end of his contacts, Papantoniou addressed a one-day conference on the "Greek-German Business Cooperation", part of the "Greek Days of Berlin" events taking place this week in the German capital.

Papantoniou stressed that Greece's participation in the euro-zone, the Athens 2004 Olympic Games and construction projects funded by the third Community Support Framework (CSF) would be a challenge and an invitation for German investments in Greece.

Eichel in a press release congratulated Papantoniou for the "impressive achievements of the Greek economy that allowed Greece to enter the EMU".

[11] Israeli envoy to Athens comments on latest Mideast developments

Athens, 22/11/2000 (ANA)

"The IDF action against security facilities of the Palestinian Authority in Gaza came after a deadly terrorist attack against a school bus carrying children and teachers, in which two people died and eight people were seriously wounded. Five of them are children in critical condition. No country can tolerate ongoing attacks against its citizens," Ambassador Ran Curiel said in a press release.

"Israel views the latest attack with the utmost gravity and last night's (Monday) operations were aimed at conveying this message," he added.

[12] FYROM foreign minister in Athens on Wednesday

Athens, 22/11/2000 (ANA)

A joint press conference is scheduled afterwards at the foreign ministry

[13] Greek PM meets Labor minister and Health minister to discuss 'Network against poverty' policies

Athens, 22/11/2000 (ANA)

Emerging from the meeting, Papadopoulos said they had discussed ways to coordinate policy between the two ministries and what measures would be brought before the cabinet.

Giannitsis said that the aims of the 'network' would be to raise awareness of citizens' problems on a personal and family level and find ways in which the state could assist.

He also responded to questions regarding the bill on labor market reform that he has prepared to present to Parliament, saying it was a "balanced proposal" and refused to comment on what he would if it was not passed.

[14] PM congratulates medical doctor for reporting corruption

Athens, 22/11/2000 (ANA)

Speaking after the meeting with the doctor, Simitis said that the "combating of corruption is a very sensitive issue for our society, but we will not achieve it, if the citizens themselves do not mobilize, if they are not going stop fearing and report cases of blackmail and corruption".

[15] IOC Coordination Commission due Wednesday for consultations with ATHOC, SOCOG due later in week

Athens, 22/11/2000 (ANA)

During the three-day visit, the IOC Coordination Commission will hold in camera consultations with ATHOC officials, broken down into working groups on the individual areas of concentration.

On Wednesday evening, ATHOC and its chairman Gianna Angelopoulos-Daskalaki will host a dinner for the visiting IOC delegation, and a reciprocal dinner hosted by IOC vice-president Dr. Jacques Rogge, who chairs the Coordination Commission for the Athens Games and filled the same role for the Sydney Games, will be held on Thursday.

A joint plenary meeting of ATHOC and the IOC Coordination Commission will be held Friday, during which the ad hoc working groups will report on the sectors of media, human resources, communication, culture, ceremonies, the Torch Relay, medical services, marketing, technology, environment, security, finance, transportation, accreditation, catering, the Olympic Family, and image and identity of the Athens Games.

The IOC delegation will hold a press conference at noon Friday, after the conclusion of the Plenary session, at the Metropolitan Hotel.

An ANA report from Melbourne earlier on Tuesday, said that members of the Sydney Olympics organizing committee (SOCOG) would also be arriving in Athens later in the week to liaise with their Greek counterparts and the Greek government and pass on valuable experience in the organization of the Games.

Australian Olympics Minister Michael Knight, meanwhile, is already in Athens to assist the IOC in monitoring Athens' progress.

The Australian officials will hold a series of in camera meetings starting on Saturday through to next Tuesday.

Press conference by ATHOC, Greek minister: At a joint press conference in Athens on Tuesday, meanwhile, ATHOC head Angelopoulos-Daskalaki and Environment, Town Planning and Public Works Minister Costas Laliotis stressed that much progress had been made in preparations for the Games. Before holding the press conference, the two conducted an inspection of all Olympics projects from the air, during a helicopter tour of Attica.

Afterwards, Angelopoulos-Daskalaki said she was very impressed by what she saw and that the various projects would greatly improve quality of life in Athens.

She said that ATHOC hoped to act as a tool for exerting pressure for these improvements and works and to increase the sense of urgency.

[16] Parliament speaker and Cyprus Parliament Committee meet to discuss Cyprus' EU accession, Cyprus issue

Athens, 22/11/2000 (ANA)

After meeting with the Cyprus Parliament committee for EU and foreign affairs, Kaklamanis said that the goal was a solution "without giving up the principles supported by the Greek side from the start, which are based on international law and humanitarian ideals and which are embraced - or supposedly embraced - by civilized humanity."

The Greek Parliament speaker noted that certain governments in Europe and the US appear to proclaim one thing and do another, primarily by trying to side-step UN Security Council resolutions. He chastised US authorities for tolerating the occupation regime on northern Cyprus, despite having signed the resolutions calling on Turkey to withdraw its troops from the northern part of the island.

[17] IMF: Challenge for Greece is euro zone, drop in Balkan tension

Athens, 22/11/2000 (ANA)

At the same time, the country needs radical structural changes in fiscal policy, which also needs to be tighter in 2001, and in the labor, goods and capital markets, the IMF said in the report released on Tuesday.

A mutual lack of trust was seen among parties involved in talks on reforming the markets, accompanied by disbelief in the extent that change could take place and a low level of confidence in the operation of market mechanisms, the IMF said.

The result may shift the search for solutions to more government intervention and legislation, rather than to long-term, structural changes, it added.

However, the economy had made notable progress in recent years, taking the country into the euro zone on January 1, 2001; and the rate of GDP growth should rise to an average annual 4.0 percent or more in 200-2001, the IMF said.

The short-term outlook for the economy was the best in decades, mainly because the government had pursued a policy of stabilization.

The report welcomed the government's plan for a fundamental overhaul of the state pension system, although the problem of an ageing population would burden the health system.

A solution worthy of study was the introduction of non-state supplementary pensions, the report recommended.

State spending needed to be lowered, and Greek unemployment was among the highest in the 15-nation European Union, with past job-boosting measures failing to pay off. Vocational training should be encouraged, the IMF said.

Finally, the report also forecast that the current account deficit would widen, and that the state should reduce its presence in the banking sector.

[18] OECD shows guarded optimism over Greek economy

Athens, 22/11/2000 (ANA)

In a country report released on Monday, the Paris-based OECD said that the rate of GDP growth should rise to 4.0 percent in 2000, 4.6 percent in 2001, and 4.4 percent in 2002.

The government's forecast is higher at 5.0 percent in 2001-2.

[19] Merchant marine minister reiterates resolve to deregulate sector

Athens, 22/11/2000 (ANA)

In an interview with the ANA, the former EU commissioner stressed that his ministry's primary goal is for the country's islands to acquire regular and uninterrupted service. He also cited the government's efforts to reform the passenger shipping sector following the sinking of the "Express Samina" ferry boat in September, an accident that cost the life of more than 80 people when the vessel crashed into a rocky outcrop as it approached the island of Paros.

In a related development, the government spokesman on Tuesday referred to "obstacles and difficulties that have delayed the investigation process" into the "Express Samina" sinking.

Spokesman Dimitris Reppas also said that the investigation must be concluded as soon as possible, without however, interfering with the search for the truth.

[20] Greek stocks find support, end sharply higher

Athens, 22/11/2000 (ANA)

The general index ended 2.07 percent higher at 3,407.16 points, after a 1.55 percent fall to 3,286.20 points early in the session. Traders said buying intervention focused on blue chip stocks in the banks sector.

Turnover was a low 45.71 billion drachmas. The FTSE/ASE 20 index for blue chip and heavy traded stocks ended 2.42 percent higher at 1,949.29 points, and the FTSE/ASE 40 index rose 2.64 percent to 414.04 points.

Sector indices ended as follows: Banks: 7,061,67 +2.47% Leasing: 520,73 +2.20% Insurance: 1,610,99 +1.86% Investment: 1,207,52 +0.54% Construction: 1,345,88 +2.26% Industrials: 2,097,60 +1.69% Miscellaneous: 3,197,28 +3.35% Holding: 4,121,96 +1.83%

The parallel market index for smaller capitalization stocks ended 3.40 percent higher at 364.72 points.

Broadly, advancers led decliners by 311 to 32 with another 14 issues unchanged.

Hellenic Telecoms, Alpha Bank, Intracom, National Bank, Pireaus Bank and Germanos were the most heavily traded stocks.

Leading shares' closing prices (in Drs): National Bank: 12,950 Alpha Bank: 12,650 Commercial Bank: 17,080 Eurobank: 9,000 Piraeus Bank: 5,280 Lambrakis Press: 6,230 Heracles Cement: 4,790 Titan Cement (c): 13,820 Hellenic Telecoms: 5,905 Panafon: 2,945 Hellenic Petroleum: 3,650 Attica Enterprises: 2,855 Intracom: 9,815 Minoan Lines: 1,990 Hellenic Bottling: 5,185

Equity futures end up, tracking Athens bourse: Equity futures traded on the Athens Derivatives Exchange finished higher on Tuesday, in line with the bourse indices on which they are based.

The FTSE/ASE 20 index closed 2.42 percent up, and the FTSE/ASE 40 ended 2.64 percent higher.

Turnover was 24.6 billion drachmas.

A total of 5,249 contracts were traded on the FTSE/ASE 20 with turnover at 20.4 billion drachmas.

On the FTSE/ASE 40 index, 2,530 contracts changed hands on turnover of 4.1 billion drachmas.

Bond prices slip in thin trade: Bond prices in the domestic secondary market on Tuesday finished lower in light trade focusing on 20-year securities.

The Greek benchmark 10-year bond showed a yield of 5.851 percent from 5.851 percent in the previous session.

The Greek paper's yield spread over German bunds was 68 basis points, the same as a trading day earlier.

Turnover through the central bank's electronic system totalled 38 billion drachmas from 42 billion drachmas in the session before.

Sell orders accounted for around 28 billion drachmas of trade.

Greek bond yields fall substantially: Greek treasury bill yields fell substantially during a regular weekly auction of state securities by the Public Debt Management Organization on Tuesday.

The average weighed yield of a 12-month bills issue, worth 50 billion drachmas, fell to 5.26 percent from 5.54 percent in the previous auction of same securities on October 24.

Bids submitted totalled 154.2 billion drachmas, three times more than the asked sum.

The organization also auctioned a three-month treasury bill issue, worth 25 billion drachmas. The average weighed yield fell to 5.66 percent, sharply down from the previous auction average yield of 6.55 percent. Bids submitted totalled 114.7 billion drachmas, 4.6 times more than the asked sum.

Greek drachma stable against US dollar: The drachma was stable against the US dollar on the domestic foreign exchange market on Tuesday.

The US dollar/drachma rate was 400.340 drachmas per dollar at the day's fixing, slightly up from 400.520 the previous day.

The drachma fell against the euro currency at 340.250 drachmas per euro, from 340.210 on Monday.

Greek mutual funds market suffer heavily in 1999: Greece's domestic equity mutual funds suffer heavily from a sharp downward correction of prices on the Athens Stock Exchange so far this year, with several funds losing up to 60 percent of their initially invested capital in 2000.

Fund managers and investors are currently seeking to limit their losses for the year, a move mainly connected with efforts for a recovery of prices on the Athens bourse.

There are currently 75 domestic equity mutual funds operating in Greece, of which 53 were offered to investors from the start of the year and the remaining 22 were launched during the year.

All 53 mutual funds were showing losses for the year, with an average negative return of 43.74 percent, with losses ranging from -31.16 to -60 percent.

Combined domestic mutual funds show an average return of -24.2 percent this year, with only one from a total of 25 funds in the category showing a positive return of 6.22 percent.

Analysts, however, predict that this negative climate would be reversed. They based this prediction to the fact that private investors have not yet started to liquidate their positions in the mutual funds market.

[21] Local gov't tries to block bourse entry by Petrola

Athens, 22/11/2000 (ANA)

The municipalities of Elefsina, Aspropyrgos and Mandra with the community of Magoula claim that Petrola lacks permits for projects in an investment plan; intends to expand into woodland whose status for construction is disputed; and has failed to gain approval for a study on environmental repercussions in line with European Union rules.

The capital markets commission on Thursday had approved an application from Petrola to seek listing on the main market of the Athens Stock Exchange through an IPO.

Handling the share sale is EFG Eurobank Ergasias, another member of the Latsis group, Alpha Finance and National Bank of Greece.

The dates of the offering have yet to be set.

[22] FORTHnet in strategic partnership deal with Telecom Italia

Athens, 22/11/2000 (ANA)

The deal, signed with STET International Nederland-S.I.N. (a holding company, 100 percent owned by Telecom Italia), envisages creation of Mediterranean Broadband Services, a company with a 40-60 percent ownership, respectively.

The new company is already participating in a wireless fixed-telephony license auction by the Greek authorities, scheduled for December 4.

[23] Development minister presents electric cars, natural gas buses in Athens

Athens, 22/11/2000 (ANA)

The "Themis" European Union program begun with Maroussi as the location where most of the Olympic Games will take place in 2004.

[24] Ecumenical Patriarch returns from US, Nepal, India tours

ISTANBUL, 22/11/2000 (ANA - A. Kourkoulas)

During his visit in the US Vartholomeos was awarded the Scenic Hudson ecology award, in Nepal he addressed the international conference of World Wildlife Fund (WWF) in Katmandu and in Malabar, India visited the Syrian Orthodox mission.

[25] Athens mayor calls for bid in Maria Callass personal items auction

Athens, 22/11/2000 (ANA)

He also noted in his letter that the municipality was ready to create a museum to house the items in honor and memory of the Callas.

[26] Film Archives of Greece celebrate 50th anniversary

Athens, 22/11/2000 (ANA)

"The adventures of Pillar" created in 1924 and directed by Hungarian born Zozef Hep, and "Red decay" created in 1931 and directed by Stelios Tatassopoulos will be screened at the "Apollon Renault" theater in central Athens.

[27] Cyprus pledges to contribute to EU rapid reaction force

BRUSSELS, 22/11/2000 (CNA/ANA)

Defense Minister Socratis Hasikos, who represented the Republic at a meeting in Brussels of EU and candidate states, told his European counterparts Cyprus would not contribute battle troops but it could offer logistics support and reconnaissance facilities.

Addressing the Brussels meeting on Tuesday, Hasikos said Cyprus is monitoring with particular interest EU efforts to set up a rapid reaction force for crisis management operations.

The minister said Cyprus' contribution is in line with its proposal for the demilitarization of the island, in the context of continuing efforts to find a peaceful settlement in Cyprus, divided since Turkish troops occupied 37 percent of its territory in 1974.

"This is why our contribution to this force does not include battle units," Hasikos said, adding that Cyprus can put at the disposal of Europe its infrastructure, including an air base, three ports, telecommunications, services and a network of sea and air monitoring, which the EU could use in the event of peace keeping operations in the Eastern Mediterranean basin.

Hasikos told the meeting that Cyprus considers its cooperation with Europe in security and defense matters "a landmark", which signals new prospects to promote and maintain peace in Europe and its neighboring region.

Greek Defense Minister Akis Tsohatzopoulos said Cyprus' participation in the implementation of EU defense and security policy conveys a message of support for the Republic's stabilizing role in the Mediterranean and the need to back a policy of security and defense in the region.

Turkish Defense Minister Sebahettin Cakmakoglu said he disagreed with Cyprus' moves to contribute to the EU rapid reaction force and announced his intention to table the Turkish positions in writing.

[28] ESP head says not overly optimistic about Cyprus peace talks

NICOSIA, 22/11/2000 (CNA/ANA)

The Swedish EuroMP also noted that her compatriots had reservations about Turkey's course towards the European Union (EU) and that Ankara must show good will on the Cyprus problem, the solution of which must not be a precondition for Cyprus' accession to the EU, although problems may arise if full membership is achieved prior to a settlement.

Speaking at a press conference at the end of two days of talks on both sides of the divide, Wallen said during its meetings, which included talks with Cyprus President Glafcos Clerides and Denktash, the delegation discussed the Cyprus problem and the island's EU accession course.

Wallen, whose country takes over the presidency of the EU in January 2001, said the delegation got "a good picture" of the situation in Cyprus and that both the EU and Cyprus had a lot to learn from each other.

She said Cyprus was doing well in its accession negotiations and that "we want to see a peaceful solution as soon as possible and we try to encourage everybody to achieve that".

[29] Turkish warplanes violate Cyprus' air space

NICOSIA, 22/11/2000 (CNA/ANA)

"We have monitored the violations of our air space and we are in a position to locate and lock on to them," President Glafcos Clerides said of the violations.

Two Turkish F16 and two reconnaissance RF4 aircraft flew over the northwestern town of Morphou, in the Turkish-occupied part of the island, but did not land in the illegal military airport in Lefkoniko. Turkish planes often violate the Republic's air space and on many occasions the Nicosia FIR (Flight Information Region).

The government of Cyprus protests these violations to the UN.

Athens News Agency: Daily News Bulletin in English Directory - Previous Article - Next Article