NEWS IN DETAIL

Turkish helicopter crashes in sea region near Rhodes

According to initial reports, the body of a crew member has been recovered by a U.S. helicopter also taking part in the manoeuvres, while the other three crew members are said to be trapped in the downed helicopter, which is floating upside-down.

According to latest reports, the bodies of three crew members have been recovered of the Turkish military helicopter that crashed in international waters 30 nautical miles southeast of the Greek island of Rhodes.

A fourth crew member is still missing, as search and rescue operations in the are are continuing.

The helicopter crashed into the sea at 3:15 a.m. local time after taking off from the Turkish frigate ''Barbaross'' which was taking part in an exercise with ships of the NATO SNFM force, which had set sail from Alexandria on November 9 headed for Italy.

According to the National Defence Ministry, the search and rescue operation is being coordinated by Captain K. Nikitiadis on board the Greek frigate ''Adrias''. Taking part in the operation are a Greek Air Force ''Hercules'' plane and four airforce helicopters, as well as the NATO Mediterranean Command fleet of ships taking part in the exercise.

Immediately after the crash, a Greek Air Force C-130 aircraft flew to the area and started sending off flares,

The Greek frigate ''Adrias'', which was nearby, rushed to the site together with Air Force helicopters from Rhodes that specialises in search and rescue operations.

Greece,Ukraine sign friendship and cooperation agreement following Kuchma visit

Three accords on the transport, tourism, and cultural sectors were also signed after talks between Foreign Minister Theodoros Pangalos and his counterpart, Gennady Udovenko.

Mr. Kuchma, who arrived in Athens yesterday on an official two-day visit, said he had received the fullest support from Athens on issues that had been discussed, including the region's problems, Russian-Ukrainian relations, his country's relations with the European Union and the expected enlargement of NATO. He said particular emphasis was placed on economic cooperation and European security issues.

Mr. Kuchma, who earlier met with President Kostis Stephanopoulos, extended an invitation to Mr. Simitis to visit the Ukraine. "The multi-dimensional character of Greek foreign policy and multi-faceted relations being developed with the countrie s of eastern Europe was very much in evidence in the talks with Mr. Kuchma," Mr. Simitis said.

The prime minister confirmed Athens' support for Kiev's efforts to find its place in the new world emerging and noted the ties of friendship binding the two peoples and the long and dynamic presence of Hellenism in the Caucasus.

Mr. Simitis added that the two men had also discussed Greek-Turkish relations and the Cyprus problem, agreeing that differences between the states should be resolved on the basis of the principles of international law and respect for international treaties.

In a related development, Mr. Pangalos and Mr. Udovenko signed three agreements in the transport, tourism and cultural sectors.

Mr. Pangalos said at the end of talks that Greece shares a number of the Ukraine's ideas related to the organisation of the international community. "We support the validity of the borders in Europe as they have been defined by international treaties an d we are opposed to whatever effort to revise them," he said. Mr. Pangalos said Greece will encourage the strengthening of relations between the Ukraine and the European Union and its progressive association with NATO. He further expressed support for its complete participation in Balkan cooperation.

He said trade between the two countries had developed in leaps, speaking of considerable Greek investments in Ukraine and adding that plans exist to create new motorways, such as the one linking Helsinki with Athens via Kiev.

Mr. Pangalos said this highway should be funded by the EU, by all countries using it and by a Black Sea Investment Bank to be created in 1997 and headquartered in Thessaloniki.

On his part, Mr. Udovenko referred to the tens of thousands of Greeks living in the Ukraine who constitute an important bridge of friendship between the two countries.

Mr. Udovenko said the signing of a friendship and cooperation agreement by Mr. Simitis and Mr. Kuchma is an important foundation stone, announcing that the mayor of Kiev, who is a member of the Ukrainian delegation, will sign a cooperation agreement wit h Athens Mayor Dimitris Avramopoulos today.

Replying to a question on the problem posed by the Chernobyl nuclear plant, Mr. Udovenko said the biggest problem does not concern the two reactors that continue to operate but the one which exploded in 1986.

Mr. Udovenko said the reactor has been covered with cement and continues to contain 180 tons of nuclear material in an unknown condition. He added that ways are being sought with foreign experts to extract the nuclear material from the reactor, but adde d that this will not be possible without economic aid from the international community.

After meeting with the president and premier, Mr. Kuchma held separate meetings with main opposition New Democracy party leader Miltiades Evert, Communist Party of Greece (KKE) Secretary General Aleka Papariga and ruling PASOK Secretary Costas Skandalidis .

After his meeting with Mr. Kuchma, Mr. Evert said the two men discussed the possibility of political and economic cooperation between the two countries.

During an official luncheon given last night in Mr. Kuchma's honour by President of the Republic Kostis Stephanopoulos, the Greek president stressed the traditional, friendly relations between the two countries, adding that Greece will contribute to the one-time Soviet republic's efforts for gaining access to west European and Atlantic organisations.

In his address, among others, Mr. Stephanopoulos said that it was Greece's wish to improve relations with the Former Yugoslav Republic of Macedonia (FYROM) as soon as possible.

He said, however, that in order to improve relations, FYROM should show respect to "our history and our cultural heritage."

Referring to Greek-Turkish relations as well as the continued Turkish occupation of a part of Cyprus, Mr. Stephanopoulos said that Ankara, by "refusing to respect the international treaties regulating the status quo in the Aegean has reached the point o f disputing our sovereign rights, causing tension in the region and not allowing for the development of harmonious relations and peaceful cooperation" in the southeastern Mediterranean.

Mr. Stephanopoulos also referred to Greece's initiatives in the Balkans and opportunities for further development of bilateral relations between Greece and the Ukraine.

The Association of Athens Stock Exchange members discontinues dialogue with government

The government, the ASE supervising authorities and the SMEHA governinng board agreed Sunday on the terms and conditions for the reopening of the ASE, an agreement which was, however, overturned by a stockbrokers'general assembly on Monday, and consultations were resumed today but were finally broken off.

The ASE suspended trading on Friday for the first time in its history when SMEHA abatained following the inability of Delta Securities S.A. to cover 2.6 billion dr. cash obligations to the Titles Depository, which is responsible for clearing transactions.

The brokers have called on the national economy ministry to ensure the correct operation of the transactions clearance system, cliaming that the Titles Depository owed brokerage firms money.

SMEHA discontinued its consultations with the government today following an effort by the ASE supervising authority to operate the exchange with the participation only of the brokerage firms that are subsidiaries of the major state-controlled banks (National Bank of Greece, Commercial Bank, Ionian Bank, ErgoBank). This sparked protest from other brokerage firms.

A ''mini-session'' finally took place, with activity in only seven shares. The general price index closed up by 0.29% at 920.81 points, while the value of transactions was 4 million dr.

Illegal immigrants in hearse

They said Jesair Jemali, 50, and Reya Yiasar, 32, both Moslem residents of Xanthi, had charged the four Iraqis 200 dollars each to transport them to Thessaloniki.

The two men had been under surveilance for some time and were finally arrested Monday as they boarded the four Iraqis on the hearse after receiving 800 dollars from them.

The hearse was driven by Jemali, while Yiasar followed in his car.

The two vehicles were confiscated and drivers and refugees were ordered to appear before the Xanthi Public Prosecutor.

Meanwhile, the Kavala police said that 160 illegal immigrants were deported from Kavala in October. They said that the immigrants, who came from Albania, Bangladesh, Bulgaria and Russia, were working illegally in agricultural regions and animal-breeding units in Kavala.

US representative for Cyprus due in Athens today

After his visit to Athens, Mr. Cavanaugh will continue his consultations in Ankara and then Nicosia.

Sources said that the US official will have a meeting with Ilias Klis, the head of the Greek-Turkish relations department at the foreign ministry.

Justice Minister in Cyprus today

The Turkish Cypriot regime in the occupied territories is not recognised by any country, other than Turkey.

This year's events are dedicated to the memory of Tassos Isaac and Solomos Solomou, the two young Greek Cypriot men killed by Turkish occupation forces earlier this year.

Mr. Yiannopoulos will be received by Cyprus President Glafcos Clerides and will have meetings with president of the Cyprus Socialist Party Vassos Lyssarides, the Speaker of the House of Representatives Spyros Kyprianou, as well as with Archbishop Chryso stomos. Mr. Yiannopoulos is expected back in Athens on Thursday.

Greece backs EU flexible fiscal Stability Pact

Disagreements emerged during the session, particularly regarding the pact involving countries which will adopt the single currency from its inception, and mainly due to the inflexible stand of the German side, who insisted on the imposition of strict sa nctions against countries which do not achieve the continuous and steady reduction in fiscal deficits.

National Economy and Finance Minister Yiannos Papantoniou, who represented Greece, said Athens does not disagree with the proposal for the imposition of sanctions, but noted that they must be proportionate with the breadth of the fiscal deficit and have a ceiling. He added that an account ought to be taken of "situations of extraordinary and temporary nature", the level of investment and defence expenditure, which should mitigate the severity of the sanctions.

He stated that, in general, he was in favour of a flexible definition regarding the "situations of extraordinary and temporary nature".

Regarding the new ERM, which will be applied from 1999 for countries that will not initially participate in the single currency, Mr. Papantoniou said it would contain significant margins of fluctuation, possibly in the order of 15 per cent, as the old E RM.

He added that although participation in the new mechanism will be formally voluntary, in essence, it will be compulsory for the countries wishing to participate in the single currency, and stressed that the drachma will participate in the new mechanism to the degree that integration in the single currency is a declared aim of the Greek government.

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