Athens News Agency: News in English (AM), 97-12-03

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

NEWS IN ENGLISH

Athens, Greece, 03/12/1997 (ANA)

MAIN HEADLINES

• New NATO structure ensures nat'l interests, Tsohatzopoulos says
• Simitis outlines priorities for Greece's WEU presidency
• European defence industries discuss cooperation
• Draft bill for probes in public work contracts
• SAE to discuss host countries' foreign policy on Greek issues
• Greece's role in shipping stressed at conference
• Olympic Airways named Bulgaria's carrier for Sydney 2000 Olympics
• Major exhibition of Greek products in Skopje
• Greek equities end higher, led by banks
• Greek bourse to hold private placement December 10-12
• Presidential decrees legalising illegal immigrants released
• Weather
• Foreign exchange

NEWS IN DETAIL

The 16 member-states of the NATO alliance decided yesterday to ratify NATO's new military structure, despite difficulties they were faced with.

Greece, after about 20 years, restores its equal participation in NATO with the other member-states, although Greek-Turkish differences are not resolved with NATO's new structure and neither is one country favoured against another.

This was stressed by National Defence Minister Akis Tsohatzopoulos at the close of yesterday's session of NATO defence ministers. He clarified that with its equal participation in NATO, Greece can safeguard its national rights in the framework of the Alliance with reinforced possibilities, which it did not have to date.

More specifically, he said a headquarters will function in Naples on NATO's southern flank and one regional subheadquarters each in the four Mediterranean member-states: Greece, Italy, Spain and Turkey.

These subheadquarters, whose main weight rests with the landbased army, will also have necessary manning on the part of the navy and the air force.

This means that Greece obtains NATO's headquarters in Larisa, which is absolutely equal to the headquarters stationed in Verona, Madrid and Izmir, while Turkey, out of three headquarters it possesses to date will be limited to one. The headquarters in Larisa will have a Greek commander and 55 per cent of its staff will be Greek nationals. It will have operational responsibility for the entire national space. At the same time, it will constitute the base for Greece's participation in NATO's policy of peace, security and cooperation in the Balkans and the Black Sea region.

However, apart from national space, the regional subheadquarters will not have predetermined limits of operational responsibility (which have been officially abolished since 1992). The role of subheadquarters will be one of coordinating and will implement decisions taken by the Military Committee with the cooperation of each member-state. This means that in the case of every exercise, training or operation, Greece will have the right of veto at the Military Committee or the Political Committee (Council of Ministers).

Mr. Tsohatzopoulos said that Greece's national interests were fully safeguarded with the new and more flexible security system which replaced the permanent limits of operational responsibility. He offered assurances that any involvement by NATO was ruled out in the national sovereign rights of any member-state and, of course, Greece. He said this constituted an irrefutable reply to those who hastened to criticise the agreement accepted by Greece yesterday.

The agreement decided yesterday on NATO's new military structure will be ratified by the Alliance's session of foreign ministers on Dec. 16-17. Mr. Tsohatzopoulos said that after its ratification the phase of adjustments would start, which are related to the way the agreement will be implemented.

He said it will be a phase expected to be equally difficult and laborious. For this phase Greece requested and succeeded in having the revision process start immediately after ratification.

Tsohatzopoulos rejected opposition party criticism about a decrease in Greece's sovereign rights in the Aegean which, he said, "merely shows ignorance. NATO does not resolve problems of national sovereignty. National sovereignty belongs fully to member-states and its defence remains the foremost duty of its armed forces. This is explicitly recognised with the agreement on NATO's new military structure," he concluded.

Simitis outlines priorities for Greece's WEU presidency

Prime Minister Costas Simitis yesterday marked Greece's upcoming assumption of the rotating Western European Union (WEU) presidency with an address to the organisation's Parliamentary Assembly here.

It was the first time a Greek premier has spoken before the body since Greece became a full member of the WEU in November 1992.

His address focused on two issues - the need to consolidate Europe's security and defence identity through the development of the WEU's operational capabilities, and the convening of an enlarged WEU summit to take crucial decisions on the future of the EU's defence wing.

Outlining the Greek presidency's priorities for its six-month term, which begins on Jan. 1, Mr. Simitis said these were strengthening the WEU's institutions and cooperation with the EU on a daily basis; the further intensification of institutional cooperation between the WEU and NATO; the development of the WEU's operational capabilities; and strengthening the WEU's institutions vis-a-vis third countries, particularly regarding non- WEU Mediterranean countries, including Cyprus, as well as Russia and the Ukraine.

Mr. Simitis stressed that the development of the WEU's operational capability was the only way to ensure that the Union would be politically credible in the eyes of NATO and the EU.

In some parts of Europe, he said, including the Balkans "and the greater area extending to the Middle East", the level of peace, security, good neighbourly relations and respect for international law is still inadequate.

European defence industries discuss cooperation

The defence services of France, Germany, Belgium,Denmark, Norway and Britain are presenting their armaments programmes at the Military Museum in Athens during a two-day seminar organised by the Greek Army General Staff's armaments directorate that began yesterday. The target of the seminar is to inform the Greek defence industries on the prospects for their participation in procurement tenders in the countries of the Western European Armaments Group (WEAG).

A WEAG senior official, head of the armaments programme in Germany, told the opening session that there was need for cooperation among the armed forces of Europe in the context of European unification. He also stressed the need for ridding the European armed forces of their dependence on the armaments industry "across the Atlantic".

"There needs to be a European organisation of armaments, as the defence industry in Europe is scattered, serving the needs of each member state individually, and is unable to compete with the U.S. industry," the WEAG official said.

Draft bill for probes in public work contracts

A draft bill tabled in Parliament yesterday provides for probes into the origins of the property of everyone involved in the carrying out of public projects, including contractors and public works ministry staff.

It also provides for the establishment of a mathematical formula used in assessing bids, in order to prevent the phenomenon of large (and unrealistic) discounts offered by bidders. needed for the approval of the measure by the European Council.

SAE to discuss host countries' foreign policy on Greek issues

The World Council of Hellenes Abroad (SAE), which is holding its first general assembly in Thessaloniki, is slated today to discuss the foreign policy on Greek issues of countries hosting Greek communities.

The meeting, attended by 340 elected representatives of expatriate Greek communities around the world, culminates on Sunday with the election of the new SAE president, who will replace Chicago-born Andrew Athens, the Council's first president elected in 1995.

The delegates attending the SAE assembly represent an estimated seven million Greeks of the diaspora from 141 countries.

The World Council of Hellenes Abroad (SAE) was founded in 1995 with the aim of uniting the millions of Greeks living abroad and forging closer ties with the motherland.

SAE is a non-profit, non-governmental organisaton with regional councils representing North and South America, Africa-Asia, Oceania and Europe. It is supported by the foreign ministry's general secretariat for overseas Greeks, and serves as an advisory body to the Greek state on all issues pertaining to Greeks abroad. The SAE's activities further aim at strengthening existing networks and organisations serving Greeks worldwide.

President of the Republic Kostis Stephanopoulos will open the official general assembly tomorrow, which will be attended by Premier Costas Simitis, Cyprus President Glafcos Clerides and Foreign Minister Theodoros Pangalos, while Alternate Foreign Minister George Papandreou arrives in Thessaloniki today for the convention.

Greece's role in shipping stressed at conference

Merchant Marine Minister Stavros Soumakis inaugurated a two-day conference entitled "Shipping in the New Millenium, Prospects, Challenges and International Cooperation" yesterday, stressing the role played by Greece and the significance of the shipping industry for the entire world.

The international conference, organised by the magazine "Economist" with support by the European Maritime Research Institute and the Greek-Asiatic Development and Commerce Council, will focus on an analysis of issues concerning the role played by shippi ng in international maritime commerce, as well as international maritime legislation and its prospects.

Mr. Soumakis said shipping was directly affected by changes on the international scene and needs new stragegies and options on each occasion for its support and development.

Olympic Airways named Bulgaria's carrier for Sydney 2000 Olympics

Olympic Airways and Bulgaria's Olympics Committee yesterday signed an agreement naming the Greek airline as carrier for the committee and Bulgarian athletes to the 2000 Olympics in Sydney.

In the three-year run-up to the Games, Olympic Airways will carry around 5, 000 athletes and officials to meetings abroad.

Under the terms of the agreement, Olympic has the right to use the committee's logo for three years.

Major exhibition of Greek products in Skopje

The largest ever exhibition of Greek products in the Former Yugoslav Republic of Macedonia (FYROM), organised by HELEXPO, and with the participation of more than a hundred firms, opens today at the exhibition centre here.

National Economy Undersecretary Alekos Baltas will attend the opening ceremony, while a conference on banking and customs regulations and the possibility of cooperation between the two countries will take place at the Continental Hotel on Thursday.

Events will also include a performance of Sophocles' "Ajax" by the State Theater of Northern Greece, and a fashion show at the Continental hotel.

Greek equities end higher, led by banks

Greek stocks ended 0.86 percent higher yesterday driven by banks after a 2.60 percent surge lost its momentum in a mass sell-off of mostly industrial paper. The Athens general share index finished higher for the sixth straight session after retaking the psychological 1,500 level on Monday to finish at 1521.57 points, well off the day's highs.

Block trades boosted turnover with 50.6 billion drachmas changing hands, up from 24.3 billion in the previous session. Sector indices were mixed. Banks jumped 2.61 percent, Insurance edged up 0.09 percent, Leasing rose 0.69 percent, Investment gained 0. 65 percent, Construction slumped 0.96 percent, Industrials lost 0.86 percent, Miscellaneous crept down 0.61 percent and Holding soared 2.66 percent.

Hellenic Telecommunications Organisation (OTE) remained unchanged at 5,886 drachmas after finishing at the upper eight percent volatility limit in the previous session.

Of 245 shares traded declines led advances by 117 to 99 with 29 issues remaining unchanged.

Investment Portfolio, Radio Athine, Xylemboria and Iliofin ended at or near the eight percent upper volatility limit. Fintexport, General Storage, Macedonia Textile Mills and Petzetakis ended at or near limit-down, also at eight percent.

Among blue chips National Bank of Greece ended at 26,390 drachmas, Ergobank at 16,000, Alpha Credit Bank at 17,200, Delta Dairy (common) at 3,400, Titan Cement (common) at 13,950 and Intracom (common) at 13,950.

Greek bourse to hold private placement December 10-12

Athens Stock Exchange SA will hold a private placement of a minority stake on December 10-12 at 11,500-13,000 drachmas a share using the bookbuilding method of setting a price.

Handling the placement are Alpha Finance, a member of the private Alpha Credit Bank group, and state-run National Investment Bank for Industrial Development.

A tentative plan to sell shares to the public was scrapped after an upheaval on the bourse, partly linked to turmoil in financial and equity markets abroad.

The state plans to place a maximum of 2,450,000 shares, which represents 49 percent of the firm's share capital, among brokerages, credit institutions, investment companies, mutual funds, insurance funds and enterprises listed on the bourse.

The bourse and the stock depository, its subsidiary, have shown an improvement in results over the past five years. The bourse's revenue increased by an average annual 48 percent in 1992-1996 and the depository's profits by an average annual 47.1 percent.

Market authorities expect further growth through the listing of more public utilities on the market and the introduction of derivatives trade.

Details of the private placement are being given today to banks and institutional investors.

Presidential decrees legalising illegal immigrants released

Labour Minister Miltiades Papaionannou yesterday released details of two presidential decrees abolishing the status of the illegal immigrant for foreign workers without work permits as of Jan. 1, 1998.

"The presidential decrees open the way to legalisation of immigrants, judged by their place in work," he said, describing as the basic aims of the government a crackdown on the underground labour market as well as prevention of phenomena of racism, xeno phobia and neo-fascist activities.

The legalisation of this category of foreigners is envisaged in two stages.

On Jan. 1, the Manpower Organisation (OAED) will begin registration of immigrants, who will be granted the so-called White Card permitting work and residence. This will entitle them to produce all necessary documents proving their identity and police record until the end of May, with a possibility for extention until the end of July. During the registration phase, dismissal of such individuals from their workplace is prohibited.

The second phase concerns the granting of the Green Card, which will be of a one to three-year duration, and will be subject to renewal for two successive years, depending on immigrant's specialisation, the unemployment rate in the particular sector, and the income which he will have acquired in the meantime. The Green Card will also be valid as a passport for two months.

WEATHER

FOREIGN EXCHANGE

(C.E.)

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