Athens News Agency: News in English (AM), 97-10-29

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

NEWS IN ENGLISH

Athens, Greece, 29/10/1997 (ANA)

MAIN HEADLINES

• Tsohatzopoulos dismisses Karadayi letter to NATO
• Turkish warplanes infringe Athens FIR
• Greek Premier sends message to Turkish counterpart, reports say
• Holbrooke observes policy of equal distances
• Services in Albania marking 1940 Greek-Italian war
• Ecumenical Patriarch meets UN Secretary-General
• Institute of Post-Graduate Orthodox Theological Studies inaugurated
• IKA doctors' strike might continue until Nov. 7
• Turkish immigrant smuggler gets 10 years in jail
• Titan shows interest in Skopje cement industry
• Greek Central Bank steps in to foil drachma speculators
• Greek stocks plunge 2.58 pct hit by market turmoil abroad
• Greek exporters to take part in Japanese trade fair
• Weather
• Foreign exchange

NEWS IN DETAIL

National Defence Minister Akis Tsohatzopoulos yesterday dismissed a letter reportedly sent by the Turkish chief of staff to NATO claiming a Greece- Russia axis was being developed as "revealing the guilt Turkey feels over the tension and crisis in the regi on".

Turkish chief of staff Ismail Hakki Karadayi purportedly sent a letter to top-level NATO officials and individual member states claiming that a Greece-Russia axis was being developed, which would have repercussions on the alliance's southeastern wing.

"Turkish General Karadayi's letter to NATO, if one has indeed been sent, reveals the guilt that Turkey feels over the tension and crisis in the region," Mr. Tsohatzopoulos said in Thessaloniki.

He said that Turkey's responsibility over the situation was also confirmed by its desire for the development of Confidence-Building Measures, adding that if Turkey was "attempting to place the responsibility elsewhere as well, then that is confirmation of its own responsibility".

Turkish warplanes infringe Athens FIR

Turkish warplanes made new infringements of air traffic rules in the Athens Flight Information Region and violations of Greek airspace late in the afternoon yesterday.

Seven pairs of Turkish F-16s and F-4 Phantoms made respective infringements of air traffic rules in the Athens FIR and violated national airspace on eight occasions in the region between the islands of Limnos and Lesvos and Lesvos and Chios between 3 an d 4.10 p.m. In all cases, the Turkish aircraft were recognised and intercepted by Greek F-16 and Mirage 2000 warplanes.

Greek Premier sends message to Turkish counterpart, reports say

Prime Minister Costas Simitis has sent his Turkish counterpart Mesut Yilmaz a warm message of "goodwill", via visiting Turkish businessmen, according to the Turkish daily "Milliyet".

A Milliyet report from Athens said leading Turkish businessman Rahmi Koc, in Athens last week for a joint Greek-Turkish business forum, passed on to Mr. Simitis Mr. Yilmaz's confirmation that he would attend the Balkan summit in Crete next week and that he had hopes there would be a normalisation of relations between the two countries.

Mr. Simitis reportedly sent a similar message to Mr. Yilmaz.

The article added that if the meeting between the two prime ministers was "positive", it would provide an opportunity to confirm once again the Madrid communique, signed between Mr. Simitis and Turkish President Suleyman Demirel this summer.

Holbrooke observes policy of equal distances

US presidential envoy Richard Holbrooke again observed a policy of equal distances between Greece and Turkey.

In a statement before a dinner he gave for Turkish Cypriot leader Rauf Denktash in Washington, and referring to relations between his country and Greece and Turkey, he said:

"I can say that we are Turkey's best friends, if it agrees with this. However, we are also very close to Greece. Greece and Turkey are in an important region and they are very important allies of the United States."

Mr. Holbrooke said the present situation prevailing in the region must be resolved peacefully, adding that military events occurring last week were very disappointing and both sides were provocative and made superfluous actions which are not compatible with two neighbouring countries which are NATO member-states. Referring to Cyprus, he said there is no crisis on the island.

Mr. Denktash reiterated his known positions on the issue of Cyprus' accession to the European Union, claiming that accession is a ruse by the Greek Cypriots aimed at the conquest of Cyprus.

Services in Albania marking 1940 Greek-Italian war

Services marking the anniversary of the 1940 Greek-Italian War centred on the village of Vouliarati where a cemetery containing the graves of 63 Greek soldiers killed in the 1940 war exists.

"The festivity is common because we jointly fought the same invader," said the Regional Governor of Gjirokaster, Tepelene and Premeti Sotiris Manthios.

The event was attended by local Albanian authorities, police officials and local ethnic Greek deputies.

Events got underway with a church service at the church of the village. A te deum followed at which the Archbishop of Tirana and All Albania Anastasios officiated. Wreaths were laid at the monument erected in the cemetery, while villagers lit candles.

Greece's General Consul Mr. Kakiousis also laid a wreath at the cemetery at Kleisoura Premetis where Greek soldiers are buried.

Ecumenical Patriarch meets UN Secretary-General

Ecumenical Patriarch Vartholomeos held a 30-minute meeting with UN Secretary-General Kofi Annan at the UN's headquarters at noon on Monday. The Patriarch made no statement afterwards.

Shortly after, the Patriarch attended a dinner given in his honour by the President of the Papamarkos company Alex Papamarkos. Mr. Annan was unable to attend the dinner due to his meeting with the President of the International Court.

However, in a statement at a reception after meeting Mr. Annan, the Patriarch said the treasures of Orthodoxy are not known enough and have not been adequately utilised.

He said the aims of the UN can be served by the action of the Orthodox Church and assured that the Ecumenical Patriarchate is making every effort in this direction.

The Patriarch, who is continuing his tour of the US, referred to dangers posed by religious fanaticism and to the difficulties faced by the Orthodox faithful in eastern Europe.

Institute of Post-Graduate Orthodox Theological Studies inaugurated

The newly-established Institute of Post-Graduate Orthodox Theological Studies was inaugurated Saturday by Metropolitan Damaskinos of Switzerland at the Church of the Apostle Paul near Geneva.

After the religious ceremony, a number of eminent political, diplomatic, Church and intellectual personalities of Greece and Switzerland spoke at the inauguration, congratulating the Metropolitan on his work for the establishment of the Institute.

Those attending included the ambassadors of Greece and Cyprus, the Greek Consul of Geneva, and Greece's Interior and Public Administration minister Alekos Papadopoulos, who conveyed the Greek government's "pleasure and warm congratulations to the pionee rs of this very important effort, particularly to Metropolitan Damaskinos".

IKA doctors' strike might continue until Nov. 7

The Panhellenic Federation of the Social Insurances Foundation's (IKA) Unions of Scientific Hygiene Staff announced that the strike called by the Foundation's doctors nationwide started on Monday with participation levels reaching 100 per cent. The strike will continue until November 7.

On the other side, the heads of IKA clinics, at least in Athens, stressed that more doctors were working apart from security staff.

IKA doctors are seeking more pay, payment of overtime work and the equation of their salaries with those received by state hospital doctors. They are also complaining that doctors are not being given permanent status despite the fact that 4,000 position s for medical staff remain vacant.

Representatives of IKA doctors called on authoritative officials to agree to a dialogue, otherwise they are threatening new strike action after November 7.

Turkish immigrant smuggler gets 10 years in jail

A Samos court yesterday sentenced a 35-year-old Turk to 10 years imprisonment and fined him 2,750,000 drachmas for smuggling 51 Iraqi illegal immigrants to the island on October 24.

Mehmet Fazil Ipekci, resident of Bodrum, was arrested by the coast guard yesterday morning after a five-day manhunt and confessed to transporting the Iraqis to the Krouderi region on Samos.

The Iraqis were brought to Samos in a speedboat which was towing an empty wooden boat. When the speedboat's captain spotted Greek coastguard vessels, he transferred the Iraqis to the wooden boat and headed back to Turkey in the speedboat. But the speedb oat broke down and Ipekci returned to the island, abandoned his boat on a beach and hid among nearby reeds.

Ipekci was spotted by local residents who informed the authorities.

TITAN shows interest in Skopje cement industry

The Greek group TITAN has shown interest in acquiring a 51 per cent share or more in the share capital of the Skopje-based cement industry Usje. TITAN's proposal was examined at many levels and the shareholders of the cement indust ry are aware of its individual points. The proposal is being examined but so far it has neither been approved nor rejected. Usje has about 1,000 employees and is private by 6 per cent. It produces 800,000 tons of cement a year, compared to 13 million tons produced by TITAN, and the company's value is currently estimated at 62.5 million German marks.

Greek central bank steps in to foil drachma speculators

The Bank of Greece intervened twice in Monday morning's trade to restore the drachma to an even keel after speculators hit the national currency in the wake of turmoil on international markets.

Foreign currency outflows by early Monday afternoon were 523 million Ecus and short-term interbank drachma rates jumped to around 11.8 percent following pressure by speculators mainly in London.

The central bank interventions were aimed chiefly to keep the drachma steady against the Ecu, which ended up slightly at 309.93 drachmas at the central bank fix but rose again in afternoon trade.

The Athibor rate, an interbank reference tool comprising an average drawn from quotes by contributing banks, jumped to 13.05 percent from Friday's 12.25 percent. The average is released at midday.

Analysts say pressure on the drachma will be short-lived as the Greek national currency enjoys confidence abroad.

In a recent market report, Merrill Lynch backed drachma deposits for investors.

With returns of 9-10 percent and an anticipated drachma slide of 0-1 percent, placements could bring returns of five percentage points on a dollar basis beyond the cost in Ecu of financing those positions, the report said.

The international investment house also recommended Greek foreign currency linked bonds as an investment opportunity.

Greek stocks plunge 2.58 pct hit by market turmoil abroad

Greek equities slumped 2.58 percent Monday to end at 1652.42 points in a spin-off from turbulence in Asian markets, and a jittery drachma at home.

Turnover was down with 16.9 billion drachmas changing hands. Institutional investors abroad began liquidating their positions in Greek stocks several days ago in order to help recoup losses incurred in Asian markets, analysts said.

Badly hit was Hellenic Telecommunications Organisation, which lost 200 drachmas to end at 6,245 drachmas due mainly to dumping by foreign institutionals.

Sector indices dropped across the board. Banks fell 1.72 percent, Insurance plunged 3.21 percent, Leasing slid 0.91 percent, Investment sank 2.46 percent, Construction dropped 2.46 percent, Industrials dived 3.65 percent, Miscellaneous slumped 3.49 perc ent and Holding fell 1.71 percent.

The parallel market for smaller cap stocks finished 1.40 percent off.

Of 239 stocks traded, declines outpaced advances at 180 to 38 with 21 remaining unchanged.

The day's biggest percentage gainers were Intertyp, which ended at the daily eight percent upper volatility limit, Eoliki (+ 6.8 percent), Edrassi- Psalida (+ 5.7 percent) and Emborikos Desmos preferred (+ 5.6 percent).

The biggest percentage losers were Keranis (preferred), Elfiko (preferred), Cambas, Agrinio Metals and Plastics, Teletypos, Remek and Papoutsanis (common), all of which ended at eight percent limit-down.

Among blue chips, National Bank of Greece finished at 30,650 drachmas, Ergobank at 18,080, Alpha Credit Bank at 19,800, Delta Dairy (common) at 3, 830, Hellenic Bottling at 12,290, Titan (common) at 14,820, Intracom (common) at 14,750 and Aluminium de Gr ece (common) at 17,480 drachmas.

Greek exporters to take part in Japanese trade fair

The Hellenic Organisation for International Trade will participate in an international food and drinks trade fair FOODEX Japan 98 to be held in Tokyo, Japan, March 10-13 1998.

FOODEX is considered the most important trade fair in the sector in the rapidly growing Asian market and provides an opportunity for entry into Japan's big consumer market.

The Greek representation will cover all sectors of local food and drinks.

WEATHER

FOREIGN EXCHANGE

(C.E.)

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