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Athens News Agency: Daily News Bulletin in English, 00-11-24

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] IOC's Rogge expresses satisfaction with 2004 preparations
  • [02] Foreign Ministry comments on a decision by the European Court of Human Rights regarding the property of former King Constantine
  • [03] Greek PM arrives in Zagreb for EU- W. Balkan summit
  • [04] Defense Minister says promotion of cooperation between Greece and Hungary benefits both countries
  • [05] Cem participates in European conference held at initiative of EU French Presidency
  • [06] NATO chief: Turkey shouldn't oppose formation of European defense structure
  • [07] Greek Deputy Defense Minister in Spain
  • [08] Greece, Yugoslavia to sign military cooperation agreement next week
  • [09] 22 Turkish warplanes participate in occupation forces' exercise
  • [10] 8th session of OSCE Foreign Ministers to take place in Vienna next week
  • [11] Armenian president visit's Thessaloniki
  • [12] ND leader leaves open possibility of early elections
  • [13] Greek Council for Refugees to organize fourth conference on refugee issues
  • [14] Development ministry issues new market decree to protect consumers from BSE-contaminated French beef
  • [15] Papantoniou pledges tax cuts, talks of "economic miracle"
  • [16] Labor bill may be tabled in Parliament on Friday
  • [17] Euro-zone entry to give Greece political clout, minister says
  • [18] Transport and communications minister says Athens will have tram service in 2003
  • [19] Greece to take part in Albanian trade fair
  • [20] Greek stocks continue moving lower
  • [21] Farmers and Thessaloniki labor center announce industrial action
  • [22] Federation of Social Insurances Foundation (IKA) calls 48-hour nationwide strike on November 27-28
  • [23] Naoussa to become biggest spinning mill in Europe
  • [24] Kasoulides says Nice summit should open road for EU enlargement
  • [25] Cyprus government hopes Turkish Cypriot side will take part in next round of peace talks

  • [01] IOC's Rogge expresses satisfaction with 2004 preparations

    Athens, 24/11/2000 (ANA)

    International Olympic Committee (IOC) vice-president Jacques Rogge expressed satisfaction here on Thursday with stepped up completion dates for several Olympics-related projects and preparations, nearly seven months after the IOC issued a yellow card to the 2004 organizers (ATHOC).

    Greeces public works minister on Wednesday had stated that five venues for the 2004 Athens Olympics, the so-called orphaned projects, have been given a completion date four months earlier than originally scheduled -- moved up to January 2004 from May that same year.

    Rogge, one of the high-ranking IOC executives expected to vie for outgoing president Juan Antonio Samaranchs chair, made the statements after his meeting on Thursday with Public Works Minister Costas Laliotis. Rogge heads a high-ranking delegation that arrived in Athens for a wide-ranging review of preparations and talks with ATHOCs leadership as well as the Greek government.

    At eight in the evening on Aug. 13 (2004) the Games will begin, and I have the conviction, that with the pace now followed by Greece, everything will be ready, Rogge told reporters.

    On his part, Laliotis focused on the recently operational Athens metro, plans for its expansion and two proposals for a new line to connect the Athens Olympic stadium (OAKA), the primary athletic venue for the 2004 Games. Laliotis also pledged that infrastructure works related to the Games new highways, upgrading of districts, zoning etc. will also be ready before the Games.

    The veteran Greek minister added that the government is eyeing either an underground extension to OAKA or an aboveground line, without however, offering guarantees that the connection will be ready for the 2004 Games. He also said funding would have to be found, saying hell offer a definitive answer in three months.

    The OAKA complex, which also includes an outdoor natatorium, an indoor stadium and other sports facilities, is connected with Athens old urban rail line.

    The IOC's leadership had, among others, called for earlier completion dates for venues as well as the all-important Olympic Village and media centers.

    New hotels: After a meeting with the country's development minister, Rogge also expressed the IOC's satisfaction with the lifting of a government restriction on the building of new luxury hotels in the greater Athens area, another "glitch" the Lausanne-based international organization had brought up with Athens.

    Rogge, accompanied by ATHOC head Gianna Angelopoulos-Daskalaki, met with Minister Nikos Christodoulakis after his contacts with Laliotis.

    In terms of another IOC concern, namely, that of reliable power supply for the numerous energy-draining venues where Olympic events will be held, Greece's development minister - whose portfolio includes the Public Power Corp. (DEH) - promised that all "necessary measures will be taken" to ensure an uninterrupted supply.

    Environmentalists' concerns: In a related development, a meeting between visiting IOC officials and four environmental groups, including the local chapter of WWF and the Greek Ornithological Society, apparently concluded without progress.

    Environmental groups have vociferously criticized 2004 organizers' plans to build a rowing and canoe center at the Schinias site of eastern Attica, one of the few remaining marshlands in the prefecture, as well as near the historic Marathon site.

    Earlier in the week, the government announced that the current Athens horse track -- a decades-old facility located in a choice coastal location (Faliro Delta) - will be relocated to the Markopoulo area of eastern Attica prefecture, with a multipurpose sports complex to be built in its place

    Regarding Olympic projects at the Hellenikon district in southeastern Athens, a site today dominated by the Greek capital's only airport up until next year, the government pledged to build venues comprised of "light, prefabricated structures", while the airport's closure will free up 550 hectares for a projected park "in tandem with a mild residential development".

    In terms of the "orphaned" projects, expropriation decrees for properties envisioned as the Olympic rowing and kayak center at Schinias have already been posted, with a relevant design study set to be awarded by the end of the year.

    Additionally, the public works and environment ministry last month announced that a contract to design an Olympic sailing complex on the Agios Kosmas beach strip - across from the current Athens airport -- will also be awarded by the end of the year, whereas the design contract for a canoe-slalom facility near the ancient battlefield of Marathon is pending.

    Reppas says contact exists with US on security issues in light of 2004 Athens Olympiad: Government spokesman Dimitris Reppas said on Thursday continuous contact and cooperation exists with US officials as well in light of the Olympic Games being held in Greece.

    Reppas was replying to a question on whether the US is pressuring for Greece to enact a stringent anti-terrorism law, saying that the country has undertaken the responsibility to proceed with certain changes concerning existing law on handling terrorism issues.

    He said there was no warning by the US and added that the country has a constitution, laws and relevant bodies.

    Reppas once again condemned foreign press reports and said "Greece is a safe country, at least at the same level, not to say safer, with the US and the other countries of Europe."

    [02] Foreign Ministry comments on a decision by the European Court of Human Rights regarding the property of former King Constantine

    Athens, 24/11/2000 (ANA)

    Commenting on a decision by the European Court of Human Rights on Thursday regarding the property of former King Constantine of Greece, a foreign ministry announcement noted simply that the court had found in favor of the former King and that the process was now limited to assessing the amount of compensation due.

    The press release said that the entire process was now on hold until an assessment of the damage incurred by the former king was completed, after which the court would issue a new ruling.

    Constantine has asked for 1.4 billion dollars compensation for the contested property, which comprises the Tatoi country estate outside Athens, the 'Mon Repos' palace on Corfu and the Polidendri forest estate in the foothills of Mount Olympus.

    The Greek government had seized these on the grounds that Constantines ancestors obtained them under dubious circumstances and had never really been private property, but public property set aside for the use of the royal family.

    Constantine, his sister Princess Irene and his aunt Princess Ekaterini, had taken their case before a European human rights tribunal in Strasbourg in 1994, claiming that the Greek state had violated their rights to family life, dignified treatment, access to the courts and their property.

    The foreign ministry press release noted that most of these claims had been rejected in 1998, with the tribunal finding that Constantine should adopt a name and surname like every other citizen, while only the issue of the royal property was referred to the European court.

    On Thursday, the human rights court found that the former royals' rights "to the peaceful enjoyment of their possessions" had been violated and that the contested properties were "owned by the applicants as private persons rather than in their capacity as members of the royal family."

    The 1967-74 Greek military junta first seized the properties, while the monarchy was abolished in a referendum after the fall of the military regime.

    In 1979, the expropriation of the land was overturned and then seized again in 1994 by the then newly elected PASOK government.

    Government spokesman Dimitris Reppas said that the decision of the court was a political defeat for the former King as it stripped him from all titles of nobility, thus under discussion at the court is the financial settlement.

    "Regarding the economic differences (between the Greek state and the former King), every effort will be expended to minimize the effects of the court decision," Reppas said.

    Foreign Ministry says so-called royal property is a particular form of ownership: The so-called royal property is a particular form of ownership and it should be taken into account by the European Human Rights Court's decision that there is no question of the property being returned, rather only of an assessment of the amount of compensation can be made, a Foreign Ministry announcement said on Thursday.

    "With its decision taken today, the European Human Rights Court accepted that property rights of the ex-King have been harmed. It is reminded that in 1994 the ex-King and his family resorted to Strasbourg, claiming that their rights to family life, dignified treatment, access to courts and their property, regarding real estate at Tatoi, Mon Repo and Polidendri, were being violated by the Hellenic state," the announcement said.

    It added that the whole issue remains pending to enable the extent of the loss to be assessed which, according to allegations he has made to date, reportedly amounts to quite a few billions for all the property and that this assessment will be an issue for a new ruling by the same court.

    The announcement further said the case of the so-called royal property is a sui generis form of ownership because it is linked to the royal office and did not constitute private property, taxes were not paid and a large part of the property comes from the state or other bodies.

    On his part, the former King in a prepared statement thanked the court for its decision, adding that he "would like to avoid any burden to the taxpayers of Greece".

    "That would be achieved if the government were to return our home ... that is our primary aim. If the government is not willing to do so, there will be no alternative but for the European Court to assess fair compensation," the statement said.

    "I see no reason why an amicable agreement cannot be reached if both sides show good will," the statement concluded.

    [03] Greek PM arrives in Zagreb for EU- W. Balkan summit

    ZAGREB, 24/11/2000 (ANA - M. Savva)

    Greek Prime Minister Costas Simitis arrived in the Croatian capital on Thursday to participate in the European Union - western Balkans summit called by the French presidency of the EU.

    The summit will focus on the European prospects of Yugoslavia, Croatia, Bosnia, the Former Yugoslav Republic of Macedonia (FYROM) and Albania, as part of the process of introducing stability in the region via partnership agreements.

    Foreign Minister George Papandreou, Press and Media Minister Dimitris Reppas and Alternate Foreign Minister Elizabeth Papazoi also arrived in Zagreb.

    French president to attend Balkan summit in Zagreb: French President and presiding president of the European Union Council Jacques Chirac has started a tour of European capitals until December 2, within the framework of preparations for the EU summit in Nice, a French Embassy press release announced on Thursday.

    Chirac will be in Zagreb on Friday to preside with Croatian President Stjepan Mesic over the Balkan summit.

    French Foreign Minister Hubert Vedrine will accompany Chirac.

    [04] Defense Minister says promotion of cooperation between Greece and Hungary benefits both countries

    Athens, 24/11/2000 (ANA)

    National Defense Minister Akis Tsohatzopoulos said on Thursday, at the end of a two-day visit to Budapest, the promotion of cooperation between Greece and Hungary is to the benefit of both countries since they have common interests regarding the consolidation of stability in the wider geopolitical region.

    He said that in the framework of NATO and the European Union, bilateral cooperation can produce advantages for Hungary, which Greece is prepared to provide, in turn calling on Hungary to support issues of direct interest to Greece.

    Tsohatzopoulos visited the Home of the Greeks in Budapest and stressed the need for Greece to support Hellenism in Hungary on a series of issues, such as the education of young people, to enable it to be linked to the historic tradition, development and culture of Greek society.

    Tsohatzopoulos is due back in Athens late on Thursday night.

    [05] Cem participates in European conference held at initiative of EU French Presidency

    PARIS, 24/11/2000 (ANA - O. Tsipira)

    Turkish Foreign Minister Ismail Cem participated on Thursday in a European conference held in the city of Sochaux at the initiative of the French European Union Presidency.

    The meeting was treated by Turkey as an excellent opportunity to promote its positions regarding its partnership relation with the EU, before the issue is discussed on December 4.

    In a statement to the Turkish media, Cem said he discussed the issue of the partnership relation with Commissioner Guenter Verheugen, who assured him of the European Commission's efforts for a rational solution.

    He also briefed Verheugen on statements made by Turkish Prime Minister Bulent Ecevit on Wednesday, who accused the EU of "deceiving" Turkey.

    Cem said Turkey is not in a hurry and that it intends to wait to have its positions heeded. He avoided making any predictions on the period of time the negotiations could last.

    Cem made an address during an open discussion held on the sidelines of the conference and set out his views regarding Europe.

    He raised the question, which are the borders of Europe and whether they are geographical or whether they are determined by common values.

    Cem said "common democratic values" should determine the borders of Europe, adding that "we do not want an egoistical Europe of a few rich countries, isolated, which will only help itself, but a more humanitarian Europe."

    He also referred to "children, who are starving" and to the "children of Palestine" in particular.

    [06] NATO chief: Turkey shouldn't oppose formation of European defense structure

    ISTANBUL, 24/11/2000 (ANA - E. Aretaios)

    NATO general secretary George Robertson reiterated here on Thursday that Turkey has nothing to fear from the formation of a European defense strategy, adding that the country "should have confidence in its own forces".

    Robertson, Britain's former defense secretary, said the alliance considers Turkey's participation in the European Strategy for Defense Policy (ESDP) very important, both from a geopolitical as well as a military standpoint.

    He made the comments here during a lecture on the subject of Turkey's role in Europe's defense.

    The NATO chief also mentioned that the six NATO members that are not EU nation-states have not been excluded from a European defense strategy, explaining that in periods of peace Turkey and the other five countries retain solid relations with various European defense mechanisms in the form of regular consultations at the ministerial level and through military maneuvers.

    During crises, Robertson added, consultations and meetings will increase, allowing the six non-EU members to express their concerns, whereas during operations the six will have the right to participate.

    "... and if they participate they will have the same rights and obligations that the other countries have..." Robertson told an audience in Istanbul.

    [07] Greek Deputy Defense Minister in Spain

    MADRID, 24/11/2000 (ANA - D. Konstantakopoulos)

    His Spanish counterpart Fernando Moreno received Greek Deputy Defense Minister Dimitris Apostolakis here on Thursday, with talks centering on joint cooperation in the armaments sector, among others.

    Along those lines, a team of Spanish experts is expected to visit Greece's aerospace contractor, HAI, in the near future to focus on issues related to the country's acquisition of the Eurofighter consortium's "Typhoon".

    Other issues discussed concerned the transformation of the armed forces into a professional corps, the situation in the Balkans as well as other European-related defense matters.

    On Wednesday, the Greek minister toured the Intra company's electrical component plant, whereas on Thursday he was set to visit the Casa aviation industry.

    [08] Greece, Yugoslavia to sign military cooperation agreement next week

    BELGRADE, 24/11/2000 (ANA-Reuters)

    Greece and Yugoslavia will sign a military cooperation agreement next week, Yugoslav minister with portfolio Velimir Radojevic announced here on Thursday.

    "The military cooperation agreement will cover bilateral cooperation in this sector as well as regional security," the minister said without elaborating.

    Yugoslav Defense Minister Slobodan Krapovic and his Greek counterpart Akis Tsohatzopoulos in Belgrade will sign the agreement on November 27.

    [09] 22 Turkish warplanes participate in occupation forces' exercise

    NICOSIA, 24/11/2000 (ANA)

    Cyprus' National Guard on Thursday recorded the presence of 22 Turkish warplanes in a military maneuver held over the past few days in the Turkish-occupied areas of the island republic.

    According to reports, two of the Turkish F-16 warplanes landed in an illegal airport set up by Turkish occupation forces at the Lefkonikos site. It was also reported that Turkish fighter planes used live ammunition in strafing and bombing runs.

    Turkey invaded Cyprus in the summer of 1974, with Turkish forces to this day occupying one-third of the island republic's territory.

    [10] 8th session of OSCE Foreign Ministers to take place in Vienna next week

    VIENNA, 24/11/2000 (ANA - D. Dimitrakoudis)

    The 8th session of OSCE (Organization for Security and Co-operation in Europe) Foreign Ministers will be taking place here on Monday and Tuesday, at the end of the Austrian Presidency, a quarter of a century after the signing of the historic "Helsinki Final Act" on August 1, 1975, in the capital of Finland.

    The present ministerial session, which apart from the ministers of its 55 member-states, will bring over 800 senior representatives from associated and cooperating countries and other international organizations to Vienna, provides the opportunity for the question to be raised again on the importance and prospects of the OSCE at the beginning of the new century.

    As a result of the latest OSCE summit in Istanbul in November, 1999, structures and institutions have been amended, supplemented and strengthened with new bodies and processes for the prevention, handling and solution of differences in the entire area of the OSCE's jurisdiction, which remains a political framework of a unique character.

    [11] Armenian president visit's Thessaloniki

    Athens, 24/11/2000 (ANA)

    Macedonia-Thrace Minister George Paschalidis on Thursday during his meeting with Armenian President Robert Kocharyan, invited Armenian public administration officials to visit Thessaloniki and be briefed on European Union functions in relation to local administration procedures.

    He also invited the Armenian president to go surfing in northern Greece, hinting at Kotsaryan's favorite sport.

    In closing his visit to Greece, Kotsaryan visited Thessaloniki's Armenian Church and met with Armenian community leaders of the northern Greek city.

    [12] ND leader leaves open possibility of early elections

    Athens, 24/11/2000 (ANA)

    Main opposition New Democracy party leader Costas Karamanlis on Thursday night left open the possibility of early elections in the country, saying "we should do preparatory work from now to be prepared since no one knows when national elections will be held."

    Karamanlis was speaking at a meeting of women local administration cadres affiliated to his party.

    He referred to problems faced by women and to such daily problems as health, crime, drugs and education. He also referred to the demographic problem and said it will constitute a bomb in the foundations of Greek society if it is not tackled.

    Among others, Karamanlis proposed that a family with three children should be considered a large family, a dynamic housing policy should be scheduled with substantive benefits for people with large families and a one-million-drachma bonus should be enacted for the birth of a third child.

    [13] Greek Council for Refugees to organize fourth conference on refugee issues

    Athens, 24/11/2000 (ANA)

    The Greek Council for Refugees announced on Thursday that it plans to hold the fourth European conference on the integration of refugees in Europe on December 1-2.

    The conference will take place at the National Research Institute in Athens and is being organized in collaboration with the General Secretariat for Youth, under the auspices of the Health ministry.

    Organizers said the conference would examine ways in which EU member-states could cooperate, exchange information and handle refugee issues on a community, governmental and local level.

    [14] Development ministry issues new market decree to protect consumers from BSE-contaminated French beef

    Athens, 24/11/2000 (ANA)

    The Development ministry issued a new set of market regulations on Thursday to protect consumers from French beef potentially contaminated with BSE, also known as 'mad cow' disease.

    The new decree, effective immediately, forbids the distribution and trade of live breeding animals above 20 months old, cattle embryos and ova. Intestines and other side-products are all destroyed.

    The decree also bans the consumption of beef on the bone - specifically the backbone - and says that such meat can only be sold once the bone is removed.

    Finally, the new regulations ban the trade and distribution of meat and bone meal, including meat meal from mammals, if these are destined for use by animals being raised in Greece. In addition, all animal feed containing these components will be withdrawn from the Greek market.

    The announcement of the measures was strongly opposed by Greek butchers, who had threatened to shut down their shops on the eve of the Christmas holiday during a general assembly on Sunday.

    Butchers accused the government of inadequately informing consumers, while noting that not all beef was dangerous. They also pointed out that French beef was being freely sold in Greece by foreign supermarket chains.

    [15] Papantoniou pledges tax cuts, talks of "economic miracle"

    Athens, 24/11/2000 (ANA)

    Greece's National Economy and Finance Minister Yiannos Papantoniou on Thursday pledged more tax cuts and said that the country was living an "economic miracle".

    Speaking in parliament, during a debate on a new tax legislation tabled by the government, Papantoniou noted that during the last couple of years the government has decided to lower the tax burden on small and medium incomes, a policy that led to revenue losses totalling 500 billion drachmas.

    This loss, however, was counterbalanced by increased revenues from an effective combat against tax evasion and created a fiscal surplus, he said.

    "It is the biggest redistribution of income in favor of lower incomes in the country to date," Papantoniou said.

    "We are no longer a country of high taxes," he stressed.

    Papantoniou announced a new round of tax cuts from 2002, relative to higher spending in social policy issues (education, health), infrastructure projects, armaments program and the Athens 2004 Olympic Games.

    Opposition political parties reacted strongly to Papantoniou comments, rejecting the term of "economic miracle" regarding the country's economic performance.

    [16] Labor bill may be tabled in Parliament on Friday

    Athens, 24/11/2000 (ANA)

    The labor bill changing regulations on labor relations and aiming to increase employment will probably be tabled on Friday without amendments, following discussions of the relevant PASOK Parliamentary committee, on Wednesday.

    The bill will be tabled following the submittal of the relevant report of the State Accounting Office, which was expected to be submitted on Friday or Monday.

    During discussions in of the PASOK parliamentary committee indicated that amendments to the bill may be introduced during discussions in Parliament, in efforts to close the distance between the positions of Labor Minister Tassos Giannitsis and the labor unions.

    [17] Euro-zone entry to give Greece political clout, minister says

    Athens, 24/11/2000 (ANA)

    National Economy and Finance Minister Yiannos Papantoniou said on Thursday that Greece's entry into the 11-member euro zone would bring the country political as well as economic and social advantages.

    The euro zone, which Greece joins on January 1, 2001, will become the nucleus of the new European architecture, Papantoniou told a meeting of the Economic Chamber in Athens.

    "Greece's positions are acquiring more range. Its entry into the euro zone represents an investment in security for our country," he added.

    [18] Transport and communications minister says Athens will have tram service in 2003

    Athens, 24/11/2000 (ANA)

    Transport and Communications Minister Christos Verelis said on Thursday Athens will have its own tram service 20.7 km long in 2003, adding that about 35 billion drachmas have already been secured and relevant tenders will start in the first quarter of 2001.

    Verelis was speaking during a visit to a Metro station to be briefed on measures anticipated to facilitate people with special needs.

    He said the tram service would be created by a subsidiary of the Attiko Metro company, whose establishment was recently ratified by Parliament.

    Verelis said about 400,000 people a day use the Metro and another 700,000 the HSAP electric railway. He added that be believes 80,000-90,000 will be using the tram.

    [19] Greece to take part in Albanian trade fair

    Athens, 24/11/2000 (ANA)

    For the first time, Greece will take part in an Albanian trade fair, which takes place on November 25-30 in Tirana, the neighboring country's capital.

    Greek participation in the Panair 2000 general trade fair has been arranged by the Thessaloniki International Trade Fair. Twenty two domestic firms are taking part.

    [20] Greek stocks continue moving lower

    Athens, 24/11/2000 (ANA)

    Equity prices continued moving lower on the Athens Stock Exchange on Thursday, this time hit by talk of a money laundering scandal involving a large Greek securities firm.

    The general index ended 1.42 percent lower at 3,260.61 points, off the day's lows of 3,207 points, its lowest close since April 26, 1999.

    Turnover was a low 50.261 billion drachmas. The FTSE/ASE 20 index for blue chip and heavy traded stocks ended at 1,863.72 points, off 1.24 percent, and the FTSE/ASE 40 index fell 2.10 percent to 393.21 points.

    Sector indices ended as follows: Banks: 6,775.63 1.22% Leasing: 529.74 +0.98% Insurance: 1,539.24 -0.63% Investment: 1,144.26 -2.84% Construction: 1,259.65 -2.72% Industrials: 2,000.04 -2.03% Miscellaneous: 3,017.61 -3.11% Holding: 3,968.04 -0.74%

    The parallel market index for smaller capitalization stocks ended 2.89 percent lower at 343.36 points.

    Broadly, decliners led advancers by 275 to 62 with another 16 issues unchanged. Hellenic Telecoms, Alpha Bank, National Bank and Intracom were the most heavily traded stocks.

    Leading shares' closing prices (in Drs): Alpha Bank: 12,205 Eurobank: 8,650 Panafon: 2,895 Lambrakis Press: 5,700 National Bank: 12,500 Hellenic Petroleum: 3,550 Commercial Bank: 16,320 Attica Enterprises: 2,775 Heracles Cement: 4,760 Intracom: 8,635 Minoan Lines: 1,895 Hellenic Telecoms: 5,620 Piraeus Bank: 5,000 Titan Cement (c): 13,615 Hellenic Bottling: 5,060

    Main opposition party says stock market collapse, a major political and social issue: "The collapse of the Athens bourse is a major political and social issue," George Alogoskoufis, main opposition ND party's top economic cadre, said on Thursday after a meeting between party leader Costas Karamanlis and representatives of Listed Companies' Federation.

    Alogoskoufis blamed the government for its pre-election policy that trapped investors into the market's current downward spiral.

    He urged the government to take initiatives to change the climate in the market. "The government must bring to justice all those responsible for making the market unreliable, to bring forward tighter regulation and to enhance the operation of the Capital Markets' Committee," he said.

    Alogoskoufis urged investors to stay calm. "There is no need for panic. Investors could find out in the short-term that the current fall in share prices was exaggerated," he said.

    Equity futures end down, tracking Athens bourse: Equity futures traded on the Athens Derivatives Exchange finished lower on Thursday, in line with the bourse indices on which they are based.

    The FTSE/ASE 20 index closed 1.25 percent down, and the FTSE/ASE 40 ended 2.11 percent lower.

    Turnover was 26.7 billion drachmas.

    A total of 6,358 contracts were traded on the FTSE/ASE 20 with turnover at 23.9 billion drachmas.

    On the FTSE/ASE 40 index, 1,764 contracts changed hands on turnover of 2.8 billion drachmas.

    Bond prices drop in brisk trade: Bond prices in the domestic secondary market on Thursday finished lower in moderate to heavy trade focusing on 20-year securities.

    The Greek benchmark 10-year bond showed a yield of 5.812 percent from 5.822 percent in the previous session.

    The Greek paper's yield spread over German bunds was 69 basis points from 68 basis points in the two previous trading days.

    Turnover through the central bank's electronic system totalled 107 billion drachmas from 158 billion drachmas in the session before.

    Sell orders accounted for around 73 billion drachmas of trade.

    Drachma's rate stable against US dollar: The drachma was stable against the US dollar and the euro currency in the domestic foreign exchange market, despite a weaker euro/dollar rate in international markets on Thursday.

    The Greek drachma eases slightly to 403.400 against the US dollar at the day's fixing, from 403.300 on Wednesday. It was stable at 340.230 drachmas per euro.

    [21] Farmers and Thessaloniki labor center announce industrial action

    Athens, 24/11/2000 (ANA)

    Farmers' unions announced on Thursday that they begin industrial action next November 28, the same day as the civil service union ADEDY, and that they would organize a rally in central Greece.

    The head of the Unified Federation of Farming Associations said that tractors and farm vehicles would be brought down to the rally, which has been called to protest against a decision to reduce cotton cultivation by 10 per cent.

    The federation also plans to stage a rally on a prefectural level.

    Meanwhile, the Thessaloniki Labor Center has announced that it will join the struggle against a labor market regulation bill proposed by the government and opposed by trade unions.

    The center has decided to participate in a 24-hour strike called by Greece's main trade union GSEE on the day that the bill is debated in Parliament.

    [22] Federation of Social Insurances Foundation (IKA) calls 48-hour nationwide strike on November 27-28

    Athens, 24/11/2000 (ANA)

    The Social Insurances Foundation's (IKA) Employees Foundation has called a 48-hour nationwide strike on November 27-28 and so have all employees of insurance funds.

    The strikers will organize a gathering at the Labor Ministry, while at the same time they will participate in the strike called by the Civil Servants Supreme Administrative Council (ADEDY).

    The federation told a press conference that annual contribution evasion now exceeds 500 billion drachmas at IKA, while the foundation's deficit is expected to reach 310 billion drachmas in 2001.

    Revenues amounting to 2.5 trillion drachmas are anticipated next year and expenditures will reach 2.8 trillion drachmas.

    [23] Naoussa to become biggest spinning mill in Europe

    Athens, 24/11/2000 (ANA)

    Naoussa Spinning Mills is to become the largest spinning mill in Europe following a merger with associated companies, the group's board said in statement on Thursday.

    Including subsidiaries, the group will show a forecast turnover of 45 billion drachmas with 17 billion drachmas of the total representing exports, the statement said.

    The string of mergers is expected to be completed by June 2001, it added.

    European Parliament Cyprus rapporteur due in Cyprus NICOSIA, 24/11/2000 CNA/ANA)

    European Parliament rapporteur for Cyprus Jacques Poos was due to arrive here on Thursday night for a two-day official visit at the invitation of the Cyprus House Foreign and European Affairs Committee president Tassos Papadopoulos.

    During his stay, the Cyprus rapporteur of the Foreign Affairs, Human Rights and Common Security and Defense Committee will be received by President Glafcos Clerides and House President Spyros Kyprianou and will have separate meetings with political party leaders.

    He will also meet Papadopoulos and the Cyprus Republic's chief negotiator with the European Union George Vassiliou.

    [24] Kasoulides says Nice summit should open road for EU enlargement

    NICOSIA, 24/11/2000 (CNA/ANA)

    Cyprus Foreign Minister Ioannis Kasoulides has said the European Council to be held in Nice, France, next month should open the road for European Union enlargement, giving specific messages to both member states and candidate countries that new members will be accepted in the next three years.

    Speaking at the European Conference held on Thursday in Sochaux, France, Kasoulides also outlined the Cyprus Republic's positions regarding EU institutional reforms.

    The conference, attended by Foreign Affairs Ministers of the EU and candidate countries, is a prelude to the meeting of heads of state and government to take place in Nice, December 7 to 9.

    "We expect the Nice European Council to clearly open the road for enlargement and give a message to public opinion, not only in member states but also in candidate countries, regarding the EU's political will to open its doors for new members in the next three years", Kasoulides told the conference.

    The Cyprus Republic opened accession talks with the EU in 1998.

    [25] Cyprus government hopes Turkish Cypriot side will take part in next round of peace talks

    NICOSIA, 24/11/2000 (CNA/ANA)

    The Cyprus government on Thursday expressed the hope that the Turkish Cypriot side will take part in the sixth round of UN-led proximity talks for a settlement on the island, scheduled to resume in Geneva end of January.

    Government spokesman Michalis Papapetrou told his daily press briefing on Thursday that the only way to find a settlement in Cyprus is through a dialogue under UN auspices and said the Greek Cypriot side will be in Geneva provided that nothing comes up until then that will force President Glafcos Clerides reassess his position.

    Papapetrou was commenting on Turkish Cypriot leader Rauf Denktash's visit to Turkey tomorrow to discuss his participation or not in the next round of proximity talks, after he was angered with a non paper UN chief Kofi Annan gave the two sides during talks held in Geneva earlier this month with his own observations and the progress so far.

    Invited to comment on reports that the Cyprus question will be discussed by Turkey's National Security Council, the Cypriot government spokesman said "it is always on the Council's agenda" and added that "it is a serious issue for Turkey and the policy and guidelines followed are always discussed at this level."

    However, he pointed out that there is no indication from any Turkish government official that Ankara has changed its stance towards Cyprus.


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