Athens News Agency: News in English (AM), 97-06-12
NEWS IN ENGLISH
Athens, Greece, 12/06/1997 (ANA)
MAIN HEADLINES
- Premier opens parliamentary debate on Constitution's revision
- Tsohatzopoulos holds talks with Belgian counterpart
- Greece hopes Holbrooke's mission would prove effective
- No early elections, gov't says
- US gov't offers reward for information on terrorism
- Poll results favouring ND were 'expected', gov't says
- Two European Social Fund decisions related to Greece
- Stolen manuscript to return to Mount Athos
- OTE launches public offering of 45 million shares
- Greek stocks end sharply up on state telecom buying spree
- Finance ministry to take action on Dr.1.67 trillion tax debt
- Two bids approved for Cretabank sale
- Weather
- Foreign exchange
NEWS IN DETAIL
Premier opens parliamentary debate on Constitution's revision
Prime Minister Costas Simitis yesterday stated his support for the proposal
to disengage the election of president of the republic from the possibility
of dissolving Parliament, as envisaged in current Constitutional provisions.
Opening Parliament's debate on the revision of the Constitution, the prime
minister said that "recourse to elections is not justified in the present
context of the president`s responsibilities", and that "political life has
conquered the level of maturity which allows an appropriate innovation".
According to current provisions on the election of a president, the 300-
member Parliament is dissolved if a candidate fails to secure a two-thirds
majority in the first two rounds and a three-thirds majority in the third
round. A three-fifths majority is again required by the new Parliament, and
if not attained, the president is elected by an absolute majority.
He stressed the need for transparency in the functioning of the political
system, which would be greatly promoted by the establishement of a
permanent electoral system.
Tsohatzopoulos holds talks with Belgian counterpart
Greece and Belgium intend to undertake a joint initiative with proposals
for the development of the armaments industry in Europe, National Defence
Minister Akis Tsohatzopoulos said after talks in Brussels yesterday with
his Belgian counterpart Jean Pol Poncelet.
"We found a potential for cooperation in a series of sectors concerning
equipment for the army and air force," the Greek minister said, adding that
delegations of the two countries` armed forces general staffs would
continue discussions in coming weeks.
He noted that discussion yesterday touched on the high cost of procuring
weapons systems, which leads many NATO countries to consider joint
production schemes.
Mr. Tsohatzopoulos also reported that he asked to be briefed on problems
faced by Belgium in its decision to abolish compulsory military service and
switch to a professional military system.
He clarified that Greece has no intention of proceeding to a similar system,
but wishes to increase the number of professional cadres due to heightened
demographic problems.
Greece hopes Holbrooke's mission would prove effective
Government spokesman Dimitris Reppas expressed hope yesterday that the
mission of Richard Holbrooke, newly appointed US special envoy for Cyprus,
would prove effective.
He went on to say that Mr. Holbrooke should make use of Greek positions on
Cyprus.
Mr. Reppas was speaking during a press briefing yesterday. Asked to comment
on information alleging that Mr. Holbrooke backs Turkey on the issue of a
Turkey-Iran natural gas pipeline, Mr. Reppas said that there where
occasions when the US envoy acted on the interests of Greece.
``Some of Mr. Holbrooke`s positions serve Greek interests``, he said.
No early elections, gov`t says
There will be no early elections, government spokesman Dimitris Reppas
asserted yesterday, adding that the government was absolute on this
issue.
During his daily press briefing, Mr. Reppas also referred to the revision
of the Constitution in terms of the election for president of the
republic.
He said that any discussion concerning the election of the president came
at the wrong time and said the issue should not be linked with early
general elections.
Asked whether ruling PASOK would nominate Mr. Stephanopoulos for a second
term, the spokesman said the government did not want to open discussion on
the issue, and that the current president was carrying out his duties in
the best manner.
US gov't offers reward for information on terrorism
The US government is offering up to $2 million for information "leading to
the arrest and conviction of persons or groups who have committed terrorist
acts against American individuals or property".
In a statement released yesterday, the US embassy said the US government
was "renewing its appeals to the Greek people" for information on terrorist
acts.
The appeal was part of its efforts to work in close cooperation with Greece,
and belonged to the counter-terrorism rewards programme, the press release
stated.
The announcement said that in the past 22 years, terrorist actions in
Greece had resulted in the deaths of four Americans, Richard Welch, George
Tsantes, William Nordeen and Ronald Stewart, injuries to 28 other Americans
and a rocket attack on the embas sy compound in February 1996.
The rewards programme was established in 1984 as a deterrent to global
terrorism and is administered by the Diplomatic Security Service of the US
State Department.
For more information, call the embassy at 72.02.490 or 72.94.301.
Poll results favouring ND were 'expected', gov't notes
Poll results by the firm MRB on voting tendencies that give main opposition
New Democracy the lead over ruling PASOK by 4.6 per cent were expected,
government spokesman Dimitris Reppas said yesterday.
According to the biannual poll, if elections were held today, 31 per cent
of those questioned said they would vote for ND and 26.4 per cent for
PASOK. December 1996 results showed 28.3 per cent for ND and 26.6 per cent
for PASOK, respectively.
Mr. Reppas explained that the government and prime minister are exposed to
problems and do not have the luxury of a political presence that involves
just words and costs nothing.
PASOK's ratings, however, as a government show a clear increase with 25.1
per cent having a good or very good opinion of its image, as opposed to
December's 19.5 per cent ratings. ND's image has also improved, with 21 per
cent saying it was good or very good, as opposed to last year's ratings of
9.5 per cent.
In terms of party leaders, the most popular politician was Coalition of the
Left and Progress (Synaspismos) leader Nikos Constantopoulos (52 per
cent).
He is followed by Costas Karamanlis of ND (44.8 per cent), Dimitris
Tsovolas of the Democratic Social Movement at 42 per cent, PASOK Prime
Minister Costas Simitis (41.4 per cent), Political Spring leader Antonis
Samaras (21.5 per cent).
Communist Party of Greece Secretary General Aleka Papariga posted a 19.7
per cent rating.
Two European Social Fund decisions related to Greece
The European Social Fund announced two decisions on Tuesday which are
particularly important for Greece. Specifically, the European Social Fund
will retroactively fund programmes which have been implemented, amounting
to 50 billion drachmas, and from which an inflow of funds totalling 33
billion drachmas corresponds to Greece.
In addition, programmes amounting to 65 billion drachmas were ratified for
1997, from which the corresponding inflow of funds into the country amounts
to 40 billion drachmas.
The European Commission has ultimately accepted a proposal by the labour
ministry on the retroactive ratification and funding of activities
implemented in 1996, such as the promotion of employment, continuing
vocational training, the training of workers in the first-stage sector and
training for unemployed merchant seamen.
Stolen manuscript to return to Mount Athos
A rare 18th century manuscript that was stolen from the all-male monastic
community of Mount Athos and recently located in Bulgaria will be returned,
Bulgarian President Petar Stoyanov promised yesterday.
Mr. Stoyanov pledged the return of the 1762 manuscript "Slavo-Bulgarian
History", written by Paissios Hiliendarios to the Agios Georgios Zographos
Monastery on Mount Athos.
The manuscript was stolen from the monastery in the 1980s and has been
displayed at the National Historial Museum of Sofia since September
1996.
OTE launches public offering of 45 million shares
Hellenic Telecommunications Organisation (OTE) on Wednesday launched a
public offer for 10.7 percent of its equity in the state firm's second part-
flotation. The package of 45 million shares, negotiable on the Athens Stock
Exchange (ASE) is on offer and the strike price will be announced on
Monday.
National Bank of Greece on Tuesday announced a price range of 6,200-6,900
drachmas per share for institutional investors and 6,000-6,700 for
individual buyers.
A first round of eight percent of its equity was floated at the end of
March last year, increasing the telecom's share capital by 130 billion
drachmas.
Sold were 32 million common shares (4 million to OTE employees and
pensioners, 8 million to institutional investors, 8 million to foreign
investors and the remainder to the general public) at 4,000 dr. each.
The share price included a dividend of 125 dr. per share from OTE's 1995
profits.
OTE signed an agreement on Tuesday with the Serbian government under which
it acquired a 20% holding in the Balkan state's PTT telecom for 675 million
deutschemarks. Another 29% stake was bought by Italy's STET for DM893
million.
The acquisition will aid OTE's penetration of the Balkans and Black Sea
region.
OTE anticipates substantial returns from its Serbian investment, including
a dividend from the third year of the investment, remuneration for the
provision of technical assistance (0.5% of PTT revenues in the first year
and 1% per year for 7 years),and financial gains from the provision of
future services.
Under the contract, OTE and Telecom Italia also acquire two seats each on
PTT's 9-member board with a veto right.
Greek stocks end sharply up on state telecom buying spree
A surge of buying interest in shares of Hellenic Telecommunications
Organisation (OTE) led the Athens Stock Exchange sharply higher as the
market seemingly regained confidence after last week's dramatic fall.
The general index closed 2.16 percent higher at 1,638.56 points, with most
sector indices scoring gains. Banks gained 1.92 percent, Leasing surged
2.88 percent, Insurance dropped 0.24 percent, Investment was 1.93 percent
up, Industrials increased 1.62 p ercent, Construction rose 0.85 percent,
Holding jumped 2.91 percent and Miscellaneous rose 1.72 percent.
The Parallel Market index ended 1.50 percent higher. Turnover was stronger
at 23 billion drachmas. Broadly, advancers led decliners by 158 to 64 with
another 19 unchanged.
Oerlikon, Alco and Kardasilaris were top gainers while Allatini, Parnassos
and Atemke suffered the heaviest losses of the day.
OTE remained the highlight of the session for one more day with its share
price rising 4.9 percent, or 345 drachmas, to end at 7,450.
Volume was a massive 500,000 shares worth more than 3.5 billion drachmas.
According to market sources investors were buying OTE's shares through the
market fearing that oversubscription to the company's public offering would
restrict access to OTE's forthcoming share capital increase, due on June 18-
July 18.
Finance ministry to take action on Dr 1.67 trillion tax debt
The Greek finance ministry has prepared a list of more than 1000 major tax
debtors from three key cities in the country who owe a total of 1.655
trillion drachmas, and pending is an equivalent list for the rest of the
country.
The list already prepared cites debts of 1.4 trillion drachmas from Athens,
220.6 billion from Piraeus and 34.5 billion from Thessaloniki, Finance
Undersecretary George Drys said.
The ministry has said it is ready to confiscate property, freeze bank
accounts and send debtors to prison in order to secure payment.
Mr. Drys noted, however, that the ministry had yet to decide whether or not
it would publicly announce the names on the list.
Two bids approved for Cretabank sale
An evaluation committee for the privatisation of Cretabank has approved
bids by Consolidated Eurofinance Holdings S.A, a subsidiary of the Latsis
Group, and Bank of Piraeus to take part in the second and final stage of
the tender. The committee rejected bids by two Chinese companies - Nanjing
Star Company Ltd and An Ran Industrial Group Ltd - on the grounds that
their bids lacked fundamental data set as conditions for evaluation,
Cretabank said in a statement. According to the committee, the procedure fo
r the sale of Cretabank, formerly known as Bank of Crete, is expected to be
completed by the end of August.
WEATHER
Mostly sunny weather with a rise in temperatures is forecast for most parts
of Greece today with some local clouds in the mainland in the afternoon and
possible intermittent rain in the mountainous regions of eastern Macedonia
and Thrace. Winds variable, weak to moderate, turning strong in the
southeastern Aegean. Fair weather in Athens with temperatures between 19-
32C. Locally cloudy in Thessaloniki with temperatures between 16-30C.
FOREIGN EXCHANGE
Wednesday's closing rates - buying US dlr. 270.419
Pound sterling 442.452 Cyprus pd 530.164
French franc 46.628 Swiss franc 188.168
German mark 157.728 Italian lira (100) 15.992
Yen (100) 243.397 Canadian dlr. 195.503
Australian dlr. 205.344 Irish Punt 411.283
Belgian franc 7.642 Finnish mark 52.467
Dutch guilder 140.194 Danish kr. 41.428
Swedish kr. 34.843 Norwegian kr. 37.811
Austrian sch. 22.410 Spanish peseta 1.864
Port. Escudo 1.557
(C.E.)
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