New faces in Greek Aerospace Industry
NEWS IN DETAIL
Greece ready to participate in EU police force for Albania
Prime Minister Costas Simitis yesterday stressed Greece's support and
willingness to participate in a European Union police force in Albania if
the Union takes such a decision.
In Tirana, a high-level European delegation held talks late last night with
new Albanian Prime Minister Bashkim Fino and President Sali Berisha on ways
to end the severe crisis in the neighbouring country. The delegation
includes representatives from Greece, Italy, the EU Commission and the
OSCE.
Speaking to 40 foreign journalists of Greek origin from various countries,
Mr. Simitis said that the only possible solution to the Albanian crisis was
a political one, with the holding of elections, which however, presupposed
a restoration of law and order.
"We believe this is necessary for the solution of the economic and social
problems of the neighbouring country," he said.
"It is up to the EU and the OSCE to decide which countries will participate
in the police force for Albania," he added in reply to a question on the
possible inclusion of a Turkish contingent.
He expressed hope that there will not be a wave of Albanian refugees to
Greece.
"But if there is we will not be able to say no. Nevertheless, we have
adopted all necessary measures to avert such an eventuality," he added.
Expanding on Greece's foreign policy concerns, the prime minister stressed
the existence of problems on all sides of the country's geopolitical
borders and that Greece wants close cooperation and friendship with all
countries surrounding it and with all countries of Europe, including Turkey,
but with concurrent guarantees for the EU's borders.
Foreign Undersecretary Yiannos Kranidiotis will go to the southern Albanian
town of Gjirokaster today to meet with representatives of insurgents and
the area's Greek minority in a new effort to restore normalcy in the
area.
Sources said that he will also attempt an assessment of the situation of
the Greek minority, the needs for humanitarian aid, and will try to
persuade the insurgents' leaders to lay down their arms and cooperate with
the new government.
Ultimatum to Berisha
The National Committee for the People`s Salvation, the coordinating body of
the rebel forces controlling southern Albania said yesterday that if
President Berisha did not resign until March 20, it would invite parties to
talks for the election of a presidential council.
The committee expressed support for the Fino government, but warned that
"the continuation of its cooperation with Berisha incriminates its mission
and deprives the committee of the possibility for providing further
support".
US ambassador's concern on Albania
US Ambassador in Greece Thomas Niles yesterday expressed Washington's
opposition to any military intervention in Albania.
Speaking in Thessaloniki, Mr. Niles said the problem in Albania was a
political one which must be resolved through dialogue among the local
political forces and the assistance of the governments of neighbouring
states.
"We say no to military intervention by an international force," Mr. Niles
said, describing the situation in Albania as "difficult."
"We should be neither overly optimistic nor pessimistic, but evaluate the
situation in a balanced and calm manner, and help to solve the problems,"
the US diplomat said. Mr. Niles made the statements on the sidelines of the
fourth business cooperation conference "Greece and the Balkans", which
opened yesterday in Thessaloniki.
Commenting on the repercussions of the Albanian crisis on business, Mr.
Niles observed that political turmoil undoubtedly affected business
activities and called on governments and the business world in the region
to publicise the many positive developm ents taking place in southeast
Europe.
Southeastern Europe business conference opens in Thessaloniki
Greece will boost both infrastructure projects and cooperation with
businessmen in Balkan countries in the immediate future, Development
Minister Vasso Papandreou emphasised in Thessaloniki yesterday.
Addressing the opening of a four-day conference on business cooperation in
southeastern Europe, Ms Papandreou said that the course of privatisation of
major state-run organisations and businesses and the incorporation into
international financial systems were the major focus of institutional
changes to be made.
On the part of Greece, she added, there is a dramatic increase in trade,
intense investment activity and particular investment interest in
southeastern Europe, adding that there was a political programme to improve
the investment climate in the region.
Within this framework Greece aimed to undertake initiatives on both a
national and European Union level, she said.
Greece is obliged to negotiate the availability of EU funds for its own
development and to make a strong case for increased funds for the creation
of networks as well as promotion of every form of development activity in
the Balkans.
"In regard to the immediate future, Greece's development activity in the
region moves on two levels...that of infrastructure, which is proceeding
with the implementation of projects of the Greek Community Support
Framework and INTERREG.
"These infrastructure works are being bolstered not only by the creation of
the Egnatia Highway and horizontal (road) axes, but by the creation of the
"energy Egnatia" with a natural gas network," she said.
Prime Minister Costas Simitis and Foreign Minister Theodoros Pangalos are
to address the conference today.
In addition, the Bulgarian Minister of Regional Development and Construction
Nikola Karadimov, Romanian State and Reform Minister Ulm Spineanu, Former
Yugoslav Republic of Macedonia (FYROM) Development Minister Abdulmenaf
Bedjet as well as Turkish Federation of Industrialists' President Muharrem
Kayhan also spoke at the event, underlining optimism for the future of
investments and development possibilities of the Balkan countries.
US business interest
In a related issue, United States Chamber of Commerce vice-president
Williard Workman announced the formation of a 200-strong group of US
businessmen who wish to become active in southeastern Europe, saying that
the chamber had already signed bilateral co operation agreements with
Poland, Hungary, the Czech Republic, Slovakia, Romania and Bulgaria.
Business Council for International Understanding President Peter Tihanski
said the establishment of a continuous flow of information and access to
individuals in key positions, both at government and private level, are the
two basic requirements from prospective investors, and that there is strong
American interest in the region, especially in the fields of infrastructure,
defence electronics, pharmaceuticals and consumer products.
Lawrence Korb, an official with the Centre for Public Policy Education at
the Brookings Institute, described the next three years as particularly
crucial for political stability in the region, warning that if the Turkish
model for development of the Islamic world did not succeed in making
headway, "there is a danger of the Iranian model spreading throughout the
area".
International Finance Corp. (IFC) executive Constantine Grigoriadis
stressed that the stock markets of Greece and Turkey monopolised the
interest of foreign institutional investors, and that on the basis of
January 1997 data, in only three of the nine Balkan stock markets the value
of daily transactions exceeded $1 million. He predicted that the volume of
fixed investment in southeastern European countries will go on rising until
the end of the century.
US Senate again honours Greek Independence Day
The US Senate has unanimously declared March 25 as "Greek Independence Day"
as well as a day to commemorate Greek and American democracy.
The vote marked the eleventh consecutive year that the US Senate has passed
such a resolution.
Greek-American sources in Washington expressed their satisfaction with the
continuation of the tradition and the US Senate's decision to honour the
historic event, which marked the beginning of the end for the levantine
Ottoman empire in the Balkans.
Turkish planes again violate Greek airspace
Infringements of air traffic rules in the Athens Flight Information Region
(FIR) and of Greek national airspace by Turkish warplanes were reported
yesterday.
According to reports, 12 Turkish F-16 and F-4 planes violated Greek
airspace between the eastern Aegean islands of Hios and Lesvos and Lesvos
and Limnos.
In all cases the Turkish aircraft were recognised and intercepted by
Hellenic Air Force Mirage 2000 and F-16 fighters.
In seven instances the recognition and interception process was turned into
engagements, reports state.
Greek trade delegation to Australia
National Economy Undersecretary Alekos Baltas is expected in Australia
tomorrow at the head of a major trade delegation to strengthen commercial
relations between the state of South Australia and Greece.
Mr. Baltas will arrive in Melbourne before travelling to Adelaide, the
South Australian capital.
He is expected to have meetings with members of the Greek-Australian
Commercial and Industrial Chamber and will attend celebrations marking
Greece's national holiday on March 25.
Partial privatisation of DEP announced
Development Minister Vasso Papandreou yesterday announced the partial
privatisation of the Public Petroleum Corp. through the offering of a
portion of the state-controlled company's stocks, accompanied by a
management restructuring.
In the first half of April the selection of a financial adviser will be
finalised for the process anticipating completion of initial work by the
end of 1997, and sell-off of 10 per cent of DEP's stock through the Athens
bourse.
It was pointed out in connection with the financial position and the future
of the DEP group that with a turnover of about 660 billion drachmas in 1996,
as against 552 billion in 1995, total pre-tax profits are expected to total
35 billion in 1996 compa red to 25 billion in 1995.
The group's companies invested 25 billion drachmas in 1996 and 22 billion
in 1995.
New faces to lead EAB into new phase
The Hellenic Aerospace Industry (EAB) has announced a new board of
directors whose members will be called upon to implement structural,
stabilising and development programmes to enable EAB to succeed in an
increasingly competitive market.
Apart from developing the sector of support for national defence policy,
emphasis is expected to be given to new markets in the eastern Mediterranean,
Arab states, the Balkans and eastern Europe, as well as joint ventures in
the sectors of civil aviatio n aircraft, engines and electronics.
Chairman of the board is Lefteris Moschopedis, 46, formerly financial
director and deputy general director of the OIKO group, with degrees in
commerce and management from universities in Canada and the United
States.
Managing Director is George-Nikiforos Goulios, 51, who has 20 years
experience in management and international business, while he served in
many senior positions in the Greek Air Force until his retirement in 1994
with the rank of Air Vice-Marshall. He is a graduate of the School of
Aviation Engineers, while his many other qualifications include postgraduate
studies at the Massachusetts Institute of Technology. He is a member of the
American Aeronautical and Astronautical Institute, the AGARD group of N
ATO.
WEATHER
A drop in temperatures and strong northerly winds will be the main
characteristics of today's weather. Partly cloudy weather will prevail in
western Greece. Cloudiness and sporadic rain in the rest of the country.
Strong to gale force winds in the east. Athens will be cloudy and windy
with podssible showers and temperatures between 7-14C. Same for Thessaloniki
with temperatures between 6-10C.
FOREIGN EXCHANGE
Monday's closing rates - buying US dlr. 264.140
Pound sterling 421.005 Cyprus pd 523.082
French franc 46.434 Swiss franc 181.918
German mark 156.676 Italian lira (100) 15.639
Yen (100) 213.806 Canadian dlr. 193.242
Australian dlr. 209.704 Irish Punt 411.680
Belgian franc 7.595 Finnish mark 52.229
Dutch guilder 139.277 Danish kr. 41.029
Swedish kr. 34.228 Norwegian kr. 38.648
Austrian sch. 22.260 Spanish peseta 1.846
Portuguese escudo 1.558
(C.E.)
