NEWS IN DETAIL

Cultural Capital opening in Thessaloniki

An artistic programme followed, depicting Thessaloniki's course through antiquity, Byzantium, the diaspora and the 20th century.

Those attending the event included Prime Minister Costas Simitis, the cabinet, main opposition New Democracy party leader Miltiades Evert and representatives of all political parties (apart from the Communist Party of Greece, which has refused to participate) as well as more than 40 culture ministers from European, Balkan, Mediterranean and Black Sea countries.

However, due to lack of space in the theatre, which opened specially for the event and will close again in May for renovation work to be continued, Thessaloniki residents and journalists were unable attend. Journalists covered the opening ceremony in the neighbouring Thessaloniki Guards Officers Club, through the use of a 'video wall'.

This evening's ceremony began with a speech by the president of the Cultural Capital Organisation, Thessaloniki mayor Constantine Kosmopoulos, who spoke of the importance of the event being organised by the northern Greek city.

"It was obvious that our city could not follow the example of Athens, nor did it posess the infrastructure of Paris. But it was time for us to determine our own separate role through our existing abilities," Kosmopoulos said.

The mayor of Copenhagen, Vibeke Storm Rasmussen, handed over the title of Cultural Capital of Europe to Thessaloniki "with many expectations" during the ceremony.

Rasmussen spoke of his city's experiences during 1996, when it held the title, noting that culture became part of everyday life, with 65 per cent of Copenhagen's population participating in the events.

In his speech, Culture Minister Evangelos Venizelos stressed the importance of culture as "the most crucial fibre for the safeguarding of social cohesion."

He stressed that Thessaloniki converted its nomination as Cultural Capital of Europe into an operation to improve its infrastructure as far as buildings and institutions were concerned. "Thessaloniki this year is unearthing its historical past, ... its cosmopolitan character and it is discovering the materials with which it is constructing its modern appearance with Balkan, Mediterranean and Black Sea characteristics," he said.

During the opening ceremony, a message was read from Ecumenical Patriarchate Vartholomeos, who praised the organisers and congratulated those who supported the choice of Thesssaloniki as Cultural Capital of Europe.

An official dinner was held after the end of the opening ceremony, addressed by Simitis.

Bank of Greece monetary policy 1997 statement

The goal is to get inflation down to 4.5% by the end of this year and below 3% by the end of 1998. The Bank's strategy in containing inflationary pressures is to be the same as that followed over the past two years, i.e. a stable drachma exchange rate and keeping monetary expansion within boundaries consistent with the desired fall in inflation.

The announcement stresses that while the direction of the exchange rate will remain anti-inflationary, it will be managed more flexibly than in the past.

With regard to the rate of increase of the money supply in the broadest sense (M3), it is noted that this must be consistent with the desired fall in inflation, therefore the intermediate target for the M3's rate of increase during 1997 is expected to be between 6% and 9%. (The M3 consists of cash in circulation, private sight deposits, savings and long-term deposits, repos and bank bonds.)

The Bank of Greece will shortly begin adjusting interventionary measures in the money market, aimed at a more efficient exercise of monetary policy as well as bringing these measures in line with the operational framework expected to be used in the EMU. Thus, the Greek banking system will have enough time to adjust and gain the necessary experience to function competitively within the single European market, exploiting to the full all opportunities offered by the exercise of a joint monetary policy by the European Central Banking System, concludes the announcement.

International media focus on Cyprus issue

According to the Itar-Tass news agency, an official of the Russian Ministry of Defence Industries who wished to remain anonymous said that the "Touman" (fog) electronic warfare system was available and that it has the capabilty to "blind" the radars of enemy aircraft making them susceptible to anti- aircraft weapons.

It is the second time in the space of a week that Russian news media raise the possibility of Russian weapons being used in Cyprus, other than the the S-300 system that the island republic has already agreed to purchase. The Cyprus issue as a whole also receives greater than usual coverage by Russian media lately.

In an unrelated development accross the Atlantic, an article published in the US newspaper "Washington Post" claims that Cypriot President Glafkos Kliridis has made secret undertakings to the American government to avert the stationing of Greek militar aircraft in an Hellenic Air Force base currently under construction on the island, at least until the end of his current presidential term. The paper claims the undertaking was made to US envoy Kerry Cavanaugh when he visited Cyprus recently along with the commitment not to deploy the Russian missiles for another sixteen months, to give the Americans enough time to act on the longstanding issue of the Turkish occupation.

The paper claims that although the US government has pledged to focus on the Cyprus issue, it is reluctant to pressure Ankara and it's Islamist leader Netchmetin Erbakan fearing the loss of his cooperation against Russian desigs in central Asia and that it might be pushing the Turkish government to closer ties with Irak.

Agreement on FYROM name dispute may be at hand

"When realising that a solution is to the benefit of the national interest, a responsible government must endorse it and not surrender to blackmail," he said.

The foreign minister was replying to a main opposition New Democracy question regarding the issue. Mr. Pangalos said that special United Nations mediator Cyrus Vance was expected to turn in his mandate and that "everything now depends on the UN Security Council."

Describing as "one-sided" the Sept. 13, 1995 New York interim agreement between Greece and FYROM, Mr. Pangalos went on to say that neither Prime Minister Costas Simitis nor himself had any involvement in the course of this issue over recent years.

Elaborating on likely developments over the issue, following Mr. Vance's pending resignation as special mediator, Mr. Pangalos said two possibilities were likely. He noted that the UN Security Council will either recognise the neighbouring country by the name "Macedonia" or, "in the best development for us, it will recognise it (FYROM) under a composite name."

The foreign minister said the issue had reached a point where all political parties, especially the main opposition party, will have to take a clear position.

Athens to host European Sailing Week

At a meeting yesterday, Athens Mayor Dimitris Avramopoulos made all the municipality's services available to the event's organising committee. It was decided to display Olympic sailing craft in Syntagma Square and in front of the Panathenian Stadium, along with information booths. Lighting and special effects will be contributed by the city of Athens.

Earth tremor north of Athens

Fire on motorship off Lavrio

The captain of the vessel George Hatzioannou and his eight member crew tried to combat the blaze but were soon forced to abandon ship and board rescue launch "Kastelorizo" to safety.

The cause of the fire on the motorship, which was carrying no cargo, is as yet unknown.

Crucial week ahead for farmers and teachers

SPORTS

Kavala-Xanthi 5-2 Paniliakos-Edessaikos 4-0 Aris-Panahaiki 0-0 Ionikos-Athiniakos 0-1 Panathinaikos-Apollon 0-2 Veria-FKalamata 1-0 OFI-Olympiakos 0-1 Iraklis-PAOK Kastoria-Kavala 3/2/1997

WEATHER

FOREIGN EXCHANGE

(M.S.)

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