Athens News Agency: News in English, 00-07-25

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

CONTENTS

[01] Athens- Volleyball - Tournament

[02] Foreign Exchange Rates-Wednesday

[03] Weather Forecast-Wednesday

[04] Commission - Landfill violations - Greece

[05] Draskovic - Greece - Yugoslav election

[06] ASE-close

[07] Bank of Attica-1st half results

[08] Greece - Heatwave

[09] Vernicos Yachts-KAL Aviation

[10] Greece-ND party-stock market

[01] Athens- Volleyball - Tournament

Greece's men's volleyball team looked unlikey to qualify for the 2000 Sydney Olympic Games after losing to China on Tuesday night.

On the second day of the Olympics qualifying men's volleyball tournament being held at the Peace and Friendship Stadium in Athens, China beat Greece 3-0 sets (25-18, 25-22, 25-22).

Spain beat Tunisia 3-0 sets (25,19, 25-17, 25-20).

Spain has four points, China and Greece each have three points and Tunisia two points.

On Wednesday, China plays Tunisia and Greece plays Spain.

Spain is set to qualify as it only needs to win one set from Greece.

[02] Foreign Exchange Rates-Wednesday

Following are indicative foreign exchange rates released by the central bank for the next working day.

Wednesdays rates (buying)

Euro 334.502

U.S. dollar 355.235

German mark 171.029

[03] Weather Forecast-Wednesday

A heatwave is forecast for mainland Greece on Wednesday, with temperatures expected to hit a high of 42C. Winds will be northerly, light to moderate.

[04] Commission - Landfill violations - Greece

BRUSSELS (ANA) -- The European Commission on Tuesday announced that it will take Greece to the Eurocourt over the latters failure to implement Community standards regarding the safe disposal of waste in landfills.

In commenting on the decision, EU Commissioner for environmental matters, Margot Wallstrom, said ?member-states should oversee the operation of landfills based on (EU) Community standards, so that people living close to such facilities arent worried over their operation.?

[05] Draskovic - Greece - Yugoslav election

Serbian opposition leader Vuk Draskovic on Tuesday described the current state of affairs in Yugoslavia as ?very tragic and dangerous?, following his meeting in Athens with Greek Foreign Minister George Papandreou.

The leader of the Serbian Renewal Movement (SPO) party also told reporters that the situation worsened following the amendment of Yugoslavias constitution in the absence of representatives from Montenegro, the junior partner comprising the Federal Republic of Yugoslavia along with Serbia.

In other statements, Draskovic repeatedly emphasised that upcoming federal elections in Yugoslavia must be held in an impeccable manner, whereas the absence of Montenegrin voters would preclude international recognition for election results.

In relation to Kosovo, Draskovic said if the Yugoslav election is perceived as undemocratic then the troubled province could be lost, something he described as a disaster for the Serbian people.

?Kosovo for Serbia is our Jerusalem?? he stressed.

[06] ASE-close

Equity prices ended sharply lower on the Athens Stock Exchange on Tuesday pressured by lack of investment interest and waning confidence in the market.

The general index ended below the psychologically-critical 4,000 level again after seven sessions with turnover remaining at an ebb.

The index ended at 3,988.26 points, off 1.33 percent, off the day's lows of 3,981 points. Turnover was a low 52.6 billion drachmas.

The FTSE/ASE 20 index for blue chip and heavy traded stocks ended at 2,232.60 points, off 1.16 percent and the FTSE/ASE 40 index fell 1.64 percent to 563.50 points.

The parallel market index for smaller capitalisation stocks ended 2.95 percent lower at 721.27 points.

[07] Bank of Attica-1st half results

Bank of Attica on Tuesday reported a 40.3 percent jump its its 1st half pre-tax profits to 3.6 billion drachmas and a 5.0 percent increase in assets to 422 billion drachmas.

Deposits (including repos) totalled 274.4 billion drachmas, up 46.3 percent from the corresponding period last year, while loans totalled 166 billion drachmas, up 30 percent. The bank has made provisions totalling 850 million drachmas in the period January-June.

Bank of Attica inaugurated 10 new branches in the first half of 2000 raising its total network to 48 and plans to open new branches in Corfu, Katerini and Alexandroupolis.

[08] Greece - Heatwave

Greeces environment ministry on Tuesday advised citizens to reduce travel by automobiles as much as possible on Wednesday, as a heatwave is forecast for much of the Mediterranean country. Tanker trucks were also ordered off the roads in the greater Athens area, except for the provision of fuels to ports and airports.

Meteorologists warned that the mercury could reach as high as 42C on Wednesday in several parts of Greece with potentially high smog levels in Athens as well.

[09] Vernicos Yachts-KAL Aviation

Vernicos Yachts Maritime SA on Tuesday announced an initial agreement for the purchase of a majority stake in KAL Aviation SA, a Greek air light cargo company based in Athens and servicing the Greek islands.

KAL Aviation recently acquired a handling licence for the new Athens airport at Spata.

The deal to buy more than 67 percent of KAL's equity capital will help Vernicos Yachts's transformation into a holding company with activities ranging from sea tourism, air transport and shipping.

Vernicos Yachts plans to expand KAL's activities in the Middle East and the Balkans.

[10] Greece-ND party-stock market

Main opposition New Democracy leader Costas Karamanlis on Tuesday sharply criticised the government's policy on the stock market and asked for the resignation of the country's Capital Markets' Committee board.

Karamanlis said the government's policy was and remained 'criminal' and accused the government of "cynicism, petty partisan politics and lack of transparency."

He said that stock market losses totalled 18 trillion drachmas in the last nine months, with thousands of retail investors ruined, the Greek state suffering heavy losses, with the market's credibility severely undermined and unable to recover to this day.

He also termed the Public Securities Company's actions during that period 'scandalous', saying the state-affiliated organisation spent 700 billion drachmas to support the stock market during the pre-election period only to abandon that effort after the elections, thereby sustaining a loss of 150 billion drachmas.

This is a huge political and moral issue and New Democracy is determined to seek a radical solution to the situation, he noted.

ND's president said his party believed in the stock market's role as a dynamic lever for economic growth. He noted, however, that measures should be taken to recover its credibility, to strengthen its institutional role and to improve transparency.

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