Athens News Agency: News in English (AM), 97-07-10

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From: The Athens News Agency at <http://www.ana.gr>

NEWS IN ENGLISH

Athens, Greece, 10/07/1997 (ANA)

MAIN HEADLINES

• UN-sponsored direct peace talks on Cyprus open
• Cyprus government welcomes Greek-Turkish agreement
• European Union sources pleased with Greek-Turkish communique
• Premier emphasises new role, challenges for NATO
• Simitis voices hope for progress in Cyprus talks
• Israelis, Palestinians meet in Vouliagmeni
• Stephanopoulos hosts dinner for von Weizsaecker
• Prince Charles to visit Athens next year
• EU to grant Ecu13 million for fire protection programmes
• Labour Undersecretary visits Britain
• Greek bourse has healthy outlook despite inflation rise
• Blue chip buying pushes the Athens bourse higher
• EU in court action against Greece on property sales
• Weather
• Foreign exchange

NEWS IN DETAIL

UN Secretary General Kofi Annan inaugurated five days of UN-sponsored direct talks between President Glafcos Clerides and Turkish Cypriot leader Rauf Denktash, aimed at reviving negotiations for a settlement to the protracted Cyprus problem. He said he hoped he would not have to report another failure in the efforts for a Cyprus settlement.

Mr. Annan said this was the time to "press forward, in a positive spirit, in search of our common goal, a viable and comprehensive solution to the Cyprus problem."

Noting the difficulties faced by successive UN secretaries general in their efforts to find a solution to the Cyprus problem, Mr. Annan stressed, "my aim is not to have to report, yet again, to the Security Council about another opportunity missed".

"No one understimates the immensity of the tasks before you", he told the two leaders, adding however, that the international community is confident in their ability "to forge a new constitutional and institutional structures, to allow the people of both communities to live together in peace."

Mr. Annan said if the two leaders agreed with the suggestions his special advisor on the Cyprus problem Diego Cordovez will share with them, on his behalf, they "will be sending a strong and unmistakable signal to the international community."

"You will be signalling your commitment and determination to reach a comprehensive settlement, for which the people of Cyprus have been waiting for too long," he said.

The UN secretary general expressed the view that "specific and concrete solutions" to fundamental aspects of the Cyprus problem, agreed upon by the two sides over the years should now be explored, without further delay, "in their proper context".

The UN chief stressed that "both sides should refrain from making any statements".

Cyprus government welcomes Greek-Turkish agreement

The Cyprus government has welcomed an agreement reached between Greece and Turkey to promote better relations and believes it could facilitate in a positive manner the on-going peace effort to find a solution to the protracted Cyprus problem.

"The government welcomes the Greek-Turkish agreement to promote friendly ties based upon the principles of international law and the respect for each other's sovereignty", government spokesman Manolis Christofides told Cypriot journalists in New York.

Asked to say how this understanding will affect the direct talks between President Glafcos Clerides and Turkish Cypriot leader Rauf Denktash, which began in the US yesterday, he replied "we hope the timing of this development would influence the talks in a favourable way".

The spokesman stressed "let no one doubt Greece's support for Cyprus in a dynamic manner in efforts to settle the Cyprus problem".

Replying to questions, he said that Greece's position that a new Turkish offensive against Cyprus would constitute casus belli still stands.

"This position has not been annulled", he stressed, adding "it has not been abandoned".

European Union sources pleased with Greek-Turkish communique

EU Commissioner Hans van den Broek declined to comment on the issuing of a "document of principles" between Athens and Ankara on the sidelines of the NATO summit. However, circles close to the Commissioner said the communique was a "step in the right direction, which can contribute in a very positive way to an improvement in relations between the European Union and Turkey."

For us, the source said, this turn in Greek-Turkish relations makes us believe and hope that they will contribute positively towards resolving the Cyprus issue and problems existing in the Aegean. In addition, this signing in Madrid is coming at the right time to promote a solution to the Cyprus issue, whose talks have started in New York, and will give an additional impetus to the accession of Cyprus in the EU, the same source concluded.

Premier emphasises new role, challenges for NATO

Prime Minister Costas Simitis hailed NATO's two-day summit, which ended yesterday afternoon in Madrid, as one of the most important summits in the history of the alliance.

"It shows a new direction for NATO, which has been dominated in the past by the United States, Canada and their allies," Mr. Simitis said, summing up the results of the summit.

"The binding prospect now is security, not in the narrow framework of the Euro-Atlantic alliance, but in a broad, universal framework," the premier said.

"This shows that NATO is evolving...There will always be those who dominate and those who follow, but in any case the new form of the alliance should have a new architecture," he said.

This new architecture, Mr. Simitis added, will be achieved by promoting cooperation with Russia and the Ukraine, by advancing new institutions such as the Euro-Atlantic cooperation and strengthening of the Partnership for Peace (PfP) programme.

The premier emphasised the decision taken at the summit on the promotion of regional cooperation, and referred to the need for regional cooperation in the Mediterranean, as a means to enlarge NATO's relations and influence vis- a-vis other countries.

Mr. Simitis said Greece aimed at promoting a common security policy, adding that the focal point of Greek foreign policy was the resolution of disputes by peaceful means.

The summit launched the alliance's eastward expansion, the largest in its 48-year history, by inviting Poland, Hungary and the Czech Republic to join.

Simitis voices hope for progress in Cyprus talks

Prime Minister Costas Simitis yesterday expressed hope for progress in the UN-sponsored direct talks between Cyprus President Glafcos Clerides and Turkish Cypriot leader Rauf Denktash.

The direct talks are being held outside New York City, in the hamlet Troutbeck.

Mr. Simitis expressed the wish that the talks would lead to a just and viable solution to the 23-year-old Cyprus problem based on UN resolutions.

Israelis, Palestinians meet in Vouliagmeni

A non-binding, three-day meeting between Israeli and Palestinian personalities aimed at exchanging views on the future of the Middle East peace process began yesterday at the Athens seaside resort of Vouliagmeni.

The gathering is the product of a Greek government initiative.

The meeting is attended by Israeli and Palestinian parliamentarians, academics and personalities in the general sense, who will have the opportunity to discuss the serious problems in relations between the two communities. The meeting will be addressed by Foreign Minister Theodoros Pangalos and Foreign Undersecretary Yiannos Kranidiotis, while professor Theodoros Kouloumbis will coordinate the meeting.

In an announcement, the foreign ministry expressed satisfaction over the acceptance of its invitation by the participants.

"Greece is watching developments in the Middle East with particular interest, developments which affect stability and security in our region and beyond. This meeting is part of continuous efforts being made by our country towards all sides to promote th e peace process, which is at a particularly delicate and crucial phase at present," the foreign ministry announcement concluded.

Stephanopoulos hosts dinner for von Weizsaecker

President of the Republic Kostis Stephanopoulos hosted a dinner in honour of visiting former German president Richard von Weizsaecker yesterday.

Mr. Weizsaecker was accompanied by his wife, the ambassador of the Federal Republic of Germany in Athens and the director of his private office.

Prince Charles to visit Athens next year

Britian's heir to the throne Prince Charles has accepted an invitation to take part in an international forum next year in Athens on the preservation of the city's historical character. The forum is being organised by the city of Athens.

The Prince of Wales was invited to the forum by Athens Mayor Dimitris Avramopoulos, during a working lunch the former hosted for the mayor at his home in Gloucester.

The two men discussed the restoration of classical buildings, the preservation of historical monuments and developments in modern town planning.

EU to grant Ecu13 million for fire protection programmes

The European Commission has decided to grant about Ecu13 million for programmes concerning the protection of forests from fires and pollution following a proposal made by EU Agricultural Commissioner Franz Fischler.

The 107 programmes which will be funded on the basis of regulations approved by the Council of Ministers concern the protection of forests in Greece, Portugal, Italy, France, Spain and Germany.

In 1987 the European union implemented a programme for monitoring forests and the harm they are subjected to from air pollution and fires.

Programmes for member-states have been funded since 1992 and now the Commission has decided to intensify controls for forest protection, particularly in countries which are frequently faced with such problems.

Labour Undersecretary visits Britain

The governments of Britain and Greece have common concerns and generally adopt the same solutions on issues of employment and social policy, Labour Undersecretary Christos Protopapas said here yesterday.

During a two-day visit to Britain, Mr. Protopapas met with Minister of State for Employment, Social Security and Equal Opportunity, Andrew Smith, and Minister of State for Employment Issues, Ian McCartney.

Mr. Protopapas also met with the president of the Federation of British Industrialists, the secretary general of the Confederation of British Labour Syndicates and several ethnic Greek professors at the London School of Economics, from whom he requested help in the analysis of social and employment policy implemented by the British government.

Greek bourse has healthy outlook despite inflation rise

The Greek bourse has retained its positive prospects for the future despite a slight rise in the inflation rate in June, a Bank of America annual survey on the Greek market said.

The survey ranks the Athens Stock Exchange as the cheapest market in Europe with one of the lowest P/E (price/earnings) ratios, making stocks more attractive.

The average rate of increase in earnings per share also remains attractive, at 9.2 percent, it said.

According to a survey by Morgan Stanley Capital International, Greek blue- chips Hellenic Telecommunications Organisation (OTE), Alpha Credit Bank and National Bank of Greece were among this year's 200 largest companies in emerging markets.

OTE moved up from the 26th position last year to 19th, while Alpha Credit and National Bank ranked 121st and 17th respectively, although they did not appear in the list in 1996, said the survey, published in Business Week, the US financial magazine.

Blue-chip buying pushes the Athens bourse higher

Stock prices resumed their upward trend yesterday after Tuesday's directionless trading on the Athens Stock Exchange with investors chasing bargains in the banking and industrial sectors.

The general index closed 1.82 percent higher at 1,576.33 points but trading remained moderate with turnover at 11.7 billion drachmas.

All sector indices scored gains.

Banks were 2.81 percent up, Leasing rose 2.42 percent, Insurance increased 0.77 percent, Investment ended 2.29 percent up, Industrials rose 1.42 percent, Construction increased 1.52 percent, Holding rose 0.38 percent and Miscellaneous jumped 2.63 percent.

The small cap index rose 0.25 percent.

Broadly, advancers led decliners by 131 to 73 with another 29 issues unchanged.

Demetriadis, Greek Cables, Elfico and Bank of Central Greece scored the biggest percentage gains, while Remek, Balkan Export and Viosol suffered the heaviest losses.

National Bank of Greece ended at 35,860 drachmas, Ergobank at 17,600, Alpha Credit Bank at 19,105, Titan Cement at 15,300, Intracom at 12,600 and Hellenic Telecommunications Organisation (OTE) at 6,445 drachmas.

EU in court action against Greece on property sale

The European Commission has started legal proceedings in the European Court of Justice against Greece on the grounds that Greek authorities are refusing the sale of property in border regions to citizens from other European countries.

The Commission argues that the Greek authorities' policy is incompatible with the European Union's provisions on free movement of capital, services and people within the EU.

Greek authorities allow the sale of property in border regions to foreigners on the condition that they are interested in starting business activities in the country.

Under the legal proceedings, the Commission expects a comprehensive answer within two months to the reasoned opinion it has sent to the government, otherwise it will file a complaint to the European Court.

WEATHER

FOREIGN EXCHANGE

(C.E.)

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