From: tzarros@ccs.carleton.ca (Theodore Zarros) Subject: News (in ENGLISH)- Tue, 24 May 1994 (Greek Press Office BBS, Ottawa). Athens News Agency Bulletin, OTE to be partly, 25%, privatised-Papantoniou ------------------------------------------- Athens, 24/5/1994 (ANA): The government said yesterday it would sell 25 per cent of the Hellenic Telecommunications Organisation (OTE) to Greek and foreign investors. National Economy Minister Yiannos Papantoniou made the announcement at a joint press conference with Finance Minister Alekos Papadopoulos, and Transport and Communications Minister Ioannis Haralambous. Mr. Papantoniou said the shares would be made available via public subscription within 1994, while the remaining 75 per cent would be retained by the State. Foreign investors, he added, will not participate in the corporation's management, which will remain in the hands of the state. "This is done to ensure the public and social character of telecommunications services", Mr. Papantoniou said. He said funds raised through the sale would partially finance an OTE development programme, including investments of one trillion drachma over the next five years. The remaining funds will come from OTE profits, state subsidies and borrowing. The National Bank of Greece, together with Schroders and Credit Suisse First Boston, will act as financial consultants who will undertake the stock issue, Mr. Papantoniou said. Provisional agreement had been reached on the terms, price and other details, Mr. Papantoniou said. He did not elaborate. Participation of OTE employees in the issue will be discussed along with the other details, Mr. Papantoniou added. But to proceed with the issue, the government must first abolish a law passed by the previous conservative administration providing for a strategic foreign investor. Under that law, the foreign investor would control the management and 35 per cent of OTE stock. A further 14 per cent would be transferred to the employees and private investors. The law has not implemented because the conservative New Democracy government was toppled in September. Mr. Papantoniou said the price of stock and an appraisal of OTE assets would be decided in co-operation with financial consultants. He said pricing policy would be determined after consultants submit their recommendations to the government, which would make the final decision. Meanwhile the government's decision spurred a spate of negative reactions from opposition parties. Bulgarian FM, delegation in Athens for talks -------------------------------------------- Athens, 24/5/1994 (ANA): Bulgarian Foreign Minister Stanislav Daskalov arrived in Athens yesterday on an official two-day visit for talks with the Greek government on bilateral relations and the situation in the Balkans. Mr. Daskalov was greeted at the airport by his Greek counterpart Karolos Papoulias. Mr. Papoulias told reporters that talks between the two countries were held at a "critical moment for the Balkans, Europe and the whole world." Asked whether or not the meeting would also discuss the Skopje issue, Mr. Papoulias said all Balkan-related issues would be on the agenda. Mr. Daskalov, visiting Greece at the invitation of Mr. Papoulias, noted that relations between the two countries were "very significant for the Balkan region, as well as for the rest of Europe." He also expressed satisfaction at Greece's "very significant" support for Bulgaria's accession to the European Union. Shortly after his arrival, Mr. Daskalov called on President Constantine Karamanlis. Later he was scheduled to visit archaeological sites. Today, he will hold talks with Mr. Papoulias, after which a meeting will be held between the Greek and Bulgarian delegations to discuss expanding economic relations between the two countries. Mr. Daskalov will leave Athens for Paris tomorrow. Commission Vice-Chairman meets with PM -------------------------------------- Athens, 24/5/1994 (ANA): Vice-Chairman of the European Commission, Sir Leon Brittan, made a lightning visit to Athens for a meeting with Premier Andreas Papandreou, it was announced yesterday. The meeting focused on Sir Leon's candidacy to the Presidency of the Commission, sources said. The issue will also be raised at the European Union summit in Corfu, next month. Six-unit quake rocks Crete, also felt in Athens, Patras ------------------------------------------------------- Athens 24/5/1994 (ANA): A violent earthquake measuring 6.1 on the Richter scale rocked Crete causing panic but no casualties, an Athens Observatory statement said yesterday. It was also felt in Athens and Patras. The tremor was recorded at 9:46 a.m., originating at a distance of 300 kilometres Southeast of Athens, the epicentre being the sea region between Rethymnon and Heraklion, the island's capital, the statement added. Eyewitnesses said panic-stricken shopkeepers and schoolchildren ran out into the streets in Rethymnon. Schools were ordered closed as low-intensity aftershocks continued rocking the area after the main tremor. Old houses suffered cracks and other minor damage in Rethymnon, Chania and Heraklion. An Athens Observatory spokesman told ANA the quake caused no major damage, because the epicentre lay 80 kilometres below sea-level. Greece strongly protests to Albania over arrest of six Greek ethnics ----------------------------------------------------------------- Athens, 24/5/1994 (ANA): Greece yesterday strongly protested to Albania against the continued imprisonment of six high-ranking members of the ethnic Greek minority 'Omonia' party, reiterating that improvement of Greek-Albanian relations hinged on Tirana respect of human rights of the ethnic Greek community in southern Albania. The protest was lodged with Albanian Ambassador to Athens Hussein Chambey by Ambassador Petros Angelakis on instructions from Foreign Minister Karolos Papoulias. Mr. Angelakis expressed the government's growing concern at the ongoing imprisonment of 'Omonia' members. Albanian authorities are preparing to put the arrested men on trial on charges of "espionage, fomenting separatism, possessing weapons without a licence and maintaining links with the Greek secret service." Mr. Angelakis told Mr. Chambey the charges were based on outdated laws and regulations, also protesting the attempt by Tirana authorities to entangle Greek services in the issue, without evidence. He also stressed to Mr. Chambey that the continuing violation of human rights of the ethnic Greek minority in Albania caused tension in Greek-Albanian relations to grow. Mr. Angelakis told the envoy "Albania must realise that through such action, it follows a slippery road exposing it to international bodies, and discredits its efforts for restoring a democratic and lawful state, and a state of justice, and it cannot convince anyone that it respects its international obligations." Meanwhile, government spokesman Evangelos Venizelos said yesterday the government was closely monitoring developments concerning the arrest of the six high-ranking officials of 'Omonia', linking the improvement in Greek-Albanian relations with respect o f human rights of the ethnic Greek community in southern Albania. "Greece awaits the outcome of demarches effected with various international organisations regarding the imprisonment and referral to trial of the six men," Mr. Venizelos told the press. Greece has repeatedly accused Albania of oppressing ethnic Greeks living in the south of the country. "We have not exhausted options," Mr. Venizelos said. He gave no further details. But he dismissed an option of threatening Albanian immigrants and illegal migrants as "not the right method of conducting foreign policy." "The Albanian government is aware that a huge number of Albanian migrants and immigrants live and work in Greece, and the extent to which this affects the Albanian economy," Mr. Venizelos said. Responding to a press question on whether or not Greece intends to ask the European Union to take added measures against Albania, Mr. Venizelos said the government had used all its rights as an EU member on the issue. CSCE Commissioner ----------------- Athens, 24/5/1994 (ANA): Conference on Security and Co-operation in Europe High Commissioner for Minorities Hans Van der Stoel will visit south Albania in the next two months to closely monitor problems of the ethnic Greek community in the country. This was announced yesterday by a Coalition of the Left and Progress official. Panos Trigazis, member of the party's political bureau, said he was told of Mr. Van der Stoel's intention to visit Albania in a telephone conversation with the Vice President of the 'Omonia' party, who also briefed him on a recent meeting between the 'Omonia' leadership and Mr. Van der Stoel in Tirana. Karadzic on French volunteers' release --------------------------------------- Belgrade, 24/5/1994 (ANA-N.Georgiadis): Bosnian Serb leader Radovan Karadzic yesterday attributed the release of 11 French volunteers of the "First Aid" humanitarian organisation to personalities having influence over the Serbs, making special reference to Prime Minister Andreas Papandreou and international mediator Lord Owen. In a statement to the Bosnian Serb news agency SRNA, Mr. Karadzic denounced the French media and said: "If the French media do not have the courtesy to thank the Serbs, they should at least thank the personalities that contributed for the release of the 11 French citizens." Greek money rates ease, drachma gains ------------------------------------- Athens, 24/5/1994 (ANA): The embattled drachma gained ground yesterday and Greek interbank interest rates eased slightly as the central bank continued to defend the currency, pushing the German mark lower at the fixing, dealers said. They said many investors, disappointed because the drachma was not devalued over the weekend, started selling marks. Central bank governor Ioannis Boutos, insisted that the bank would stick to its "hard" drachma policy. "We will proceed with our hard drachma policy and will support it with all necessary means," Mr. Boutos told reporters. Pressure on Greek markets also eased because many other European markets were closed for a holiday yesterday. The Bank of Greece had a $30 million inflow at its daily currency fixing, pushing the mark down by 1.1 per cent after the drachma lost 2.2 per cent of its value in the last 10 days, a senior dealer said. Interbank rates showed the first signs of easing after shooting sky-high last week. Money market deals were reported at about 150 per cent on Friday, well up from around 22 per cent two weeks ago. But the one month Athens Interbank Offered Rate (ATHIBOR), an official reference rate, was set at 144.09 per cent yesterday, down from Friday's 160 per cent, and the three-month ATHIBOR at 110 per cent, down from 112.50 per cent. Poor liquidity drove the stock market down to a new year's low, with the market index closing at 887.08 points, 2.84 per cent below Friday's 912.99.