Athens News Agency: News in English (PM), 99-09-09

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

NEWS IN ENGLISH

Athens, Greece, 09/09/1999 (ANA)

MAIN HEADLINES

• Quake death toll at 65
• Greece, Armenia, Iran sign memorandum
• Turkish PM reserved but optimistic
• EU raps Greece over unemployment
• No bourse, derivatives until Friday
• Mega Channel goes to Cyprus
• Prospects of Georgia's economy
• No change in location of Olympic Village
• Greece voices concern over East Timor
• Weather
• Foreign Exchange

NEWS IN DETAIL

The death toll from Tuesday's powerful earthquake that hit Athens rose to 65 at press time on Wednesday night, as heroic efforts by the 150 rescue teams managed to pull out of the rubble more than 80 people alive.

Rescuers were still continuing operations to locate around 30 people missing. The number of injured are in their hundreds.

Prime Minister Costas Simitis announced a series of measures to provide support and restitution to those left homeless. He outlined a five-point plan including rental subsidies and subsidised loans for businesses to get back on their feet.

More than 700 aftershocks shook the Greek capital since the major quake which measured 5.9 on the Richter scale occurred on Tuesday.

Greek seismologists meeting on Wednesday night at the environment ministry, attended by Public Works Minister Costas Laliotis, unanimously concluded that Tuesday's quake was the major one and no greater jolt was expected.

Greece, Armenia, Iran sign memorandum

The foreign ministers of Greece, Armenia and Iran on Wednesday signed a memorandum of understanding for cooperation in energy, transport and tourism.

The three ministers, who met in the Armenian capital of Yerevan, also discussed the participation of third countries in a natural gas pipeline between Iran and Armenia.

The issue is to be discussed in more depth in November when the three countries' energy committee meets in Athens.

Signing for Greece was George Papandreou; for Iran, Kamal Kharrazi; and for Armenia, Vartan Oskanyan. The three also confirmed their interest in the use of renewable energy, and agreed to establish an energy data base in their countries.

They also said they would set up a new regional design and construction committee.

Welcomed at the meeting were initiatives by Greece to organise training seminars on tourism, transport, industry, technology and the economy.

The three foreign ministers will meet again in Athens in 2000 after a session of their coordinating committee in April of the same year.

Turkish PM reserved but optimistic

Turkish Prime Minister Bulent Ecevit appeared reserved but optimistic over prospects of Greek-Turkish relations in a statement to a Turkish newspaper on Wednesday.

"Basic problems exist between the two countries but the start to dialogue is very important," Mr. Ecevit reportedly told the newspaper Radikal and expressed the wish "let us see the result of dialogue between the foreign ministers first."

EU raps Greece over unemployment

The European Union's outgoing Commission on Wednesday urged Greece to lower domestic unemployment, especially for the young, long-term jobless and women.

EU Commissioner Padraig Flynn told a news conference that Greece's healthy economic growth over the last two years was not matched by a decline in unemployment, which meant a need for major structural changes.

Mr. Flynn, who is responsible for employment, said that in 1998 the jobless rate was 10.7 percent in Greece, up from 9.8 percent in 1997.

The 1998 rate was also higher than the EU average of 9.9 percent for the same year.

The Commission said in a report on joblessness in each member state that it was especially concerned at Greece's youth unemployment rate of 12 percent against the EU's 9.3 percent average.

Also of major concern were long-term joblessness, and the differential between women and men.

Among member states, Greece spent the lowest percentage of gross domestic product on measures for the labour market, and major weaknesses were apparent in permanent vocational training.

The report added that in the business sector, both taxation policy and state red tape acted as a disincentive to new initiatives, and therefore job creation. The situation was especially acute in the services sector, it said.

Both the tax burden in the labour market and non-wage cost of labour had to be reduced.

Finally, more flexibility should be introduced into the labour market, the report said.

No bourse, derivatives until Friday

The Athens Stock Exchange decided to suspend trading for another 24 hours and to resume on Friday in order to deal with technical problems caused by a strong earthquake which hit Athens on Tuesday.

The stock market remained closed on Wednesday to finish settlement left over from Tuesday. However, technical problems appeared in brokerages and the share depository, again hindering the clearing system.

The decision to suspend trading also includes the Athens Derivatives Exchange, whose futures trades are based on the FTSE/ASE-20 index for blue chips and heavily traded stocks.

Mega Channel goes to Cyprus

Mega Channel (Teletypos SA) is to launch operations in Cyprus as part of its strategy of expanding into markets covering ethnic Greeks.

Teletypos, which is listed on the Athens bourse, has secured the long-term operation of a TV network and installations currently used by the Logos channel, the Greek firm said in a statement on Wednesday.

Programming in Cyprus, which is to begin immediately, will include news and entertainment, the statement said.

Prospects of Georgia's economy

Prospects of Georgia's economy and investment opportunities it offers, and to Greek businessmen in particular, were presented at an event organised at the Nikolaos Germanos convention centre at the Thessaloniki International Fair (TIF) on Wednesday afternoon by the Inter-Balkan and Black Sea Business Centre (DIPEK).

The director of Georgia's Investment Centre Mr. Sarishvilli was the main speaker at the event, while addresses were also made by Minister of Macedonia and Thrace Yiannis Mangriotis and DIPEK President Dimitris Bakatselos.

Mr. Mangriotis said the common traditions linking Greece and Georgia and its economy's dynamic prospects are excellent preconditions for the start to a productive economic, commercial and business cooperation between the two countries. Georgia has signed a series of agreements with Greece concerning, among others, economic, industrial, technical and scientific cooperation.

No change in location of Olympic Village

Olympic Games "Athens 2004" Committee Managing Director Costas Bakouris on Wednesday denied reports that there will be changes in the location of the planned Olympic Village site, following Tuesday's earthquake.

"The Olympic Village will be constructed in the Acharnes Basin, with special features able to withstand earthquakes, so as not to have any problems in case of an earthquake. No changes in location are planned," Mr. Bakouris stressed, in statements to the Athens News Agency.

"No damages were listed in the existing facilities, which will be used either for the athletic events or training. No important damages were registered, however, special teams of experts will examine them in detail, so as to have a complete picture of the situation. The organising of the Olympic Games is not influenced in essence by the hit of the earthquake, as data up to this point show," he added.

Greece voices concern over East Timor

The Greek government is deeply worried of the developments in East Timor as the escalation of violence, which borders anarchy, is committed against innocent civilians, the foreign ministry stated in a press release on Wednesday.

"The violence creates a new refugee wave and aims at overturning the decision of the overwhelming majority of the East Timor people, based on the Popular Referendum of August 30," the press release stated.

"The Greek government supports a strong peacekeeping presence of the international community in the region, in the framework of the United Nations, since the forced end to violence was not possible by the Indonesian police force, to date," the press rel ease added.

"Such a peacekeeping force could contribute to the efforts for an end to the violence and the establishment of order, security in the region and respect for the decision of the East Timor people's decision".

"The Greek government also believes that the European Union, which has always supported efforts toward peace at East Timor, should once again show its decisiveness and should contribute financially to the efforts for the application of the popular decis ion and prosperity of the people of East Timor," the press release concluded.

WEATHER

FOREIGN EXCHANGE

Thursday's rates (buying)

(M.S.)

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