Athens News Agency: News in English (AM), 97-10-21

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

NEWS IN ENGLISH

Athens, Greece, 21/10/1997 (ANA)

MAIN HEADLINES

• Gov't condemns US official's comments on Tsohatzopoulos flight
• NATO chief intervenes in latest Greek-Turkish tension
• Ecumenical Patriarch begins month-long US tour
• Pangalos leaves for Maghreb visit
• Bundestag's Greek-German Friendship Group tours Macedonia
• Local telephone rates rise
• ADEDY rejects gov't proposal on salary scale
• Greek state telecom to get new satellite station
• Greece's Eurobank plans to expand in Balkans, eastern Europe
• Greek stocks slump 1.26 pct
• Greece-Venezuelan cooperation in tourism sector
• HEPO participation at Toronto foodstuffs exhibition
• Athens court hears appeals over Niarchos fortune
• Panama to get Greek cultural centre
• Weather
• Foreign exchange

NEWS IN DETAIL

Government sources yesterday described US State Department spokesman James Rubin's statements regarding a flight carrying National Defence Minister Akis Tsohatzopoulos over Cyprus as "unacceptable."

The same sources expressed the view that confusing military flights over Cyprus with the flight which carried the Greek defence minister within the Athens FIR is "irresponsible and dangerous."

"Unless there is ignorance of reality or it is sought to underestimate the intelligence of and misinform public opinion, which is also unacceptable," the same sources added.

According to an ANA dispatch from Washington, Mr. Rubin said Mr. Tsohatzopoulos' flight to the island republic for military exercises last week was an overflight that violated an agreed upon moratorium.

Replying to questions, he added: "You're speaking about aircraft and the defence minister's aircraft. Why did it have nothing to do with overflights? It was above Cyprus as an overflight. It doesn't stop being an overflight that we believe should not have happened."

"We would like both sides to carry out their (military) exercises in a manner that would restrict tension," he said.

NATO chief intervenes in latest Greek-Turkish tension

NATO Secretary General Javier Solana intervened with the Greek and Turkish governments last week to try to calm tension between the two countries, NATO sources said yesterday.

Mr. Solana telephoned the Greek and Turkish defence ministers from Tokyo, where he was giving a lecture, in order to urge them to ease tensions and respect an agreement to suspend military flights over Cyprus, they said.

"Passions are very high, particularly over Cyprus," one NATO source said. "Even from Tokyo, the secretary general was on the phone to the two defence ministers telling them to please lower the temperature."

"Anything like this has the ability to degenerate into a crisis," the NATO source said. "It makes incidents much, much more likely," it added, referring to the buzzing by Turkish F-16 fighters of a military transport plane taking the Greek National Defe nce Minister to Cyprus. The Turkish F- 16 fighters also repeatedly violated Greek airspace.

The source said Mr. Solana urged Athens and Ankara to implement a series of confidence-building measures on military exercises, airspace and reform of NATO's east Aegean command structure.

But he acknowledged that both sides had taken a step backwards by breaching a moratorium on military flights over Cyprus.

International pressure for a settlement in Cyprus is mounting. However, the NATO sources said both Greece and Turkey now had prime ministers who were widely seen as more amenable to a negotiated solution than their predecessors.

Ecumenical Patriarch begins month-long US tour

Orthodox Ecumenical Patriarch of Constatinople, Vartholomeos was received with head of state honours by the US administration, during his arrival Washington late yesterday for a month-long visit.

Several US media outlets covered the Orthodox Patriarch's arrival extensively, noting the visit coincides with the 75th anniversary since the founding of the Orthodox Archdiocese of America.

The Ecumenical Patriarch yesterday paid a visit to the Holocaust Memorial Museum in Washington, a visit that was hailed by several Jewish-American leaders as a step of great importance as well as by the museum's director as "a significant step in averting the repetition of the tragedy this museum is devoted to".

Ms Yolanda Willis, a Greek Jew and survivor of the Holocaust, in an address for the occasion, noted the special role that the Greek Orthodox Church played in helping many Jews escape from the Nazis during the occupation of Greece (1941-44).

"You not only saved our lives, you saved our belief in mankind, you saved the honour of our homeland," she said, addressing both Vartholomeos and Archbishop of America Spyridon and speaking about the Greek Orthodox leaders and faithful who jeopardised their safety to save members of Greece's Sephardic Jewish community.

Vartholomeos' visit includes meetings with US President Bill Clinton, Hillary Rodham Clinton and House Speaker Newt Gingrich tomorrow, a dinner in his honour by US Secretary of State Madeleine Albright the same evening.

The White House expressed satisfaction yesterday over the visit paid to the United States by Ecumenical Patriarch Vartholomeos, saying that it will be "very productive."

"I believe that it will be a very productive visit," White House spokesman Michael McCurry said during a press briefing.

Pangalos leaves for Maghreb visit today

Foreign Minister Theodoros Pangalos will visit Algeria today, followed by visits to Tunisia and Morocco, foreign ministry officials announced yesterday.

The officials said Mr. Pangalos's visit to the region aimed at sending a message to Greek businessmen to encourage them to strengthen economic activity with the three countries.

In the case of Algeria, they stressed the importance of the liquid natural gas agreement signed in 1988, implementation of which is expected to commence in 1999, when Algeria will convey the first natural gas to Greece.

With regard to the three countries' relations with the European Union, the officials noted that Tunisia and Morocco were already parties to Euro- Mediterranean cooperation, while a decision had been taken for the commencement of negotiations with Algeria in this direction.

Bundestag's Greek-German Friendship Group tours Macedonia

A delegation of the German Parliament's Greek-German Friendship Group expressed satisfaction at economic development in Macedonia, stressing that geographic position allows Greece play an important role in the stability of the Balkans.

The German members of the Bundestag met Macedonia-Thrace Minister Philippos Petsalnikos in Thessaloniki yesterday, and were briefed on the major infrastructure projects currently underway in northern Greece, such as the Egnatia motorway and telecommunications projects.

The Greek-German Friendship Group also expressed interest on the isuue of illegal immigrants in Greece.

Mr. Petsalnikos responded: "We are trying to find solutions that are as humane as possible, since apart from criminals, illegal immigrants are people seeking a better future".

local telephone rates rise

The price of a local phonecall will be more expensive as of January 1998, according to the new rates announced by the Hellenic Telecommunications Organisation (OTE) today.

Local phonecalls will cost 13 drachmas each, rising from 11.5 drachmas.

Also to be increased are a number of other OTE services. Phonecards will rise by 200 drachmas to 1,700 drachmas each. Basic rates will also be raised from 1,850 drachmas to 2,050 drachmas per month.

At the same time, however, OTE did announce some decreases in the cost of long-distance calls, specifically:

Domestic long-distance calls, by 8.14 percent per minute.

internatioanl calls to Europe, by 2.9 percent per min., and to the US, Canada and Australia, by 15 percent per min.

new connection fees will drop by a further 10,000 drachmas, at 30,000 drachmas.

ADEDY rejects gov't proposal on salary scale

Finance Undersecretary Nikos Christodoulakis told the Civil Servants Supreme Administrative Council (ADEDY) yesterday that the government proposes a starting salary of 191,000 drachmas for civil servants in 1998, after meeting with leading ADEDY officials .

The proposal anticipates a monthly increase of about 7,000 drachmas to be given in two installments (3,500 drachmas on Jan. 1, 1998 and another 3,500 drachmas on July 1, 1998).

ADEDY's leadership believes that the proposal does not constitute a base for negotiations and rejects it.

ADEDY called on civil servants to observe a four-hour work stoppage on Oct. 23, the day on which the General Confederation of Workers of Greece (GSEE) will call a nationwide strike, adding that it will call a 24-hour strike in the public sector the seco nd fortnight in November.

Greek state telecom to get new satellite station

Hellenic Telecommunications Organisation (OTE) yesterday signed a turnkey deal with Vertex for the supply and installation of a satellite station.

The station at Nemea in the Peloponnese, which is to be equipped with the latest satellite communications technology, will be used to transmit digital television programmes, OTE said in a statement.

Greece's Eurobank plans to expand in Balkans, eastern Europe

Greece's EFG Eurobank, a member of the Latsis Banking Group, plans to expand its presence in the Balkans and eastern Europe, also claiming a five percent stake of the domestic market.

Senior officials of Greece's third largest private bank announced its goals at a news conference yesterday after completing a merger on October 10 with Interbank, another private financial institution.

EFG Eurobank plans to set up four venture capital funds with Global Finance that will operate in the near East, and a broader region extending to the Former Yugoslav Republic of Macedonia and Armenia.

The bank wants to launch operations abroad by Alico Eurobank, a mutual fund management arrangement between EFG Eurobank and the Alico insurance company.

In another venture, the bank will extend its cooperation with Interamerican, an insurance firm, to credit cards.

Eurobank has 42 branches, shareholders equity of 48 billion drachmas and assets of 730 billion drachmas. Its deposits total 600 billion drachmas and loans 250 billion.

The Latsis Banking Group operates in 11 countries and has shareholders equity of one billion Swiss francs.

Greek stocks slump 1.26 pct

Greek stocks sank 1.26 pct in moderate trade to close at 1,745.93 points on the Athens general share index. Turnover was 18 billion drachmas.

Most sector indices slumped. Banks dropped 1.33 pct, Insurance plunged 2.62 percent, Investment fell 1.19 percent, Construction plummeted 2.50 percent, Industrials were 1.25 percent off, Miscellaneous slipped 1.04 percent and Holding dropped 1.76 percen t.

Bucking the trend was Leasing, which jumped 4.38 percent.

Also brighter than the rest of the bourse was the parallel market for smaller cap stocks, which finished up 0.97 percent.

Broadly, declining issues led advancing ones by 164 to 65 with another 20 issues unchanged.

Kambas, Sfakianakis, Yalco and Demetriades scored the biggest percentage gains, while Parnassos, Atemke, Etma, Bank of Athens and Mouzakis suffered the heaviest losses.

National Bank of Greece ended at 31,150 drachmas, Ergobank at 18,990, Alpha Credit at 20,850, Delta Dairy at 4,010, Titan Cement at 15,745, Intracom at 16,300 and Hellenic Telecommunications Organisation at 6,650.

The dollar recovered against the drachma, and the pound sterling soared around six drachmas against the Greek currency.

Greece-Venezuelan cooperation in tourism sector

Greece and Venezuela are expected to take several important step towards rapprochement in the tourism sector through the conference "Horizon 2000" of the Union of Travel Agents of Venezuela (AVAVIT).

The conference opened at the Asteras Hotel in Vouliagmeni yesterday and will be concluded on Oct. 23.

The conference is being attended by about 420 tourist agents from this South American country, the Venezuelan Tourism Minister Herman Louis Soriano, journalists, deputies (the presidents of the tourism committees of Venezuela's senate and parliament) an d Greek professionals from the tourism sector.

Addressing the opening session yesterday, Greek Tourist Organisation (EOT) Secretary General Nikos Skoulas said the conference contributes towards greater familiarisation between tourism business owners from the two countries.

Mr. Soriano said tourism can constitute the base for further commercial cooperation between the two countries. He also called on Greece to send a delegation to the celebration marking the 500th anniversary of the discovery of the Americas, to be held in

Venezuela on Oct. 12, 1998.

HEPO participation at Toronto foodstuffs exhibition

The Hellenic Foreign Trade Board (HEPO) will organise Greece's participation at the international foodstuffs and beverages exhibition entitled "The Canadian Food and Beverage Show", taking place in Toronto from Feb. 15-17, 1998.

Products to be displayed at the exhibition include canned fruit, frozen vegetables, olives, olive oil, spices, ready-to-serve traditional foodstuffs, dairy products, mineral water, biscuits, marmalade, confectionery products, pasta products, wines and o uzo.

For more information, call HEPO at 99.82.204 until Oct. 31.

Athens court hears appeals over Niarchos fortune

An Athens first instance court yesterday reserved verdict on two appeals, one lodged by Elena Ford, the daughter of late shipping tycoon Stavros Niarchos, and the other by Niarchos' nephew and heir, shipowner Costas Drakopoulos.

Mr. Drakopoulos demands that Ms Ford be barred from receiving 10 percent of the massive Niarchos fortune, estimated at $10 billion. However, Ms Ford petitioned that since her father was a permanent resident of Switzerland for the last 25 years of his li fe, the appeal should be examined there. She also claimed that Swiss courts have issued two decisions, recognising her right to receive part of her father's will.

Panama to get Greek cultural centre

A Greek Cultural Centre is to be opened in Panama by the Greek Cultural Foundation in a building donated by the Panamanian government to the Greek community there.

The building is situated in the Canal Zone in Amador, on the Pacific Ocean, where there is already a Paleontology and Tropical Archaeology Centre belonging to the Smithsonian Tropical Research Institute of the US.

Archaeology Professor Dimitris Pantermalis, member of the Foundation's board, is to leave for the Central American republic later this week heading a team of experts to set up the Centre.

A major contribution to establishing the Centre was made by Panamanian Education Minister Pavlos Thalassinos, who is of Greek origin.

WEATHER

FOREIGN EXCHANGE

(C.E.)

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