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Athens News Agency: Daily News Bulletin in English, 97-03-07

Athens News Agency: Daily News Bulletin in English Directory - Previous Article - Next Article

From: The Greek Press & Information Office, Ottawa Canada <[email protected]>

ATHENS NEWS AGENCY BULLETIN (No 1133), March 7, 1997

Greek Press & Information Office
Ottawa, Canada
E-Mail Address: [email protected]


CONTENTS

  • [01] Simitis, van Mierlo agree on handling of Albanian crisis, call for democratic solution
  • [02] Kranidiotis
  • [03] Papandreou warns Albania troubles may spread
  • [04] Anastasios calls for peace
  • [05] Reports of Berisha distributing weapons
  • [06] COREPER discusses Albania situation
  • [07] Albanian soldiers request political asylum in Greece
  • [08] Greece has important role to play in Europe, Albright says
  • [09] Pangalos outlines Greece's proposal to help defuse Albanian crisis
  • [10] Reppas on Ciller's letter to EU presidency
  • [11] Greece to request WEU acts as European 'security mechanism'
  • [12] Athens 2004 Olympics bid presented
  • [13] German president to receive honorary doctorate from Athens University
  • [14] Premier to visit Romania
  • [15] Palestinian police officers to be trained in Greece
  • [16] Memorial service held for Melina Mercouri
  • [17] ND leadership candidates meet on changing party statute
  • [18] PASOK's Central committee issues conditions for party restructuring
  • [19] Teachers will continue strike for eighth week
  • [20] Premier confers with advisory committee on social dialogue
  • [21] Local Employment Pact pilot programs to be implemented immediately
  • [22] National Bank issues English-language bulletin

  • [01] Simitis, van Mierlo agree on handling of Albanian crisis, call for democratic solution

    Athens, 07/03/1997 (ANA)

    Prime Minister Costas Simitis and Dutch President of the European Union Council of Ministers Hans van Mierlo, who is visiting Tirana today, last night expressed full agreement on the handling of the Albanian crisis after two hours of talks in Athens.

    Mr. Simitis stressed the need for the democratization process to proceed in Albania and that the use of violence would have negative consequences.

    "The strengthening of democracy in Albania will facilitate and speed up procedures for the provision of aid by the European Union to relieve the suffering Albanian people," he said.

    Both men described the proposed OSCE mission to the country, headed by former Austrian chancellor Franz Vranitzky, as "very useful" and expressed the support of the EU to this initiative.

    They also noted that in their separate telephone conversations with President Berisha, the latter referred to the prospect of proclaiming early elections in his country.

    Mr. van Mierlo expressed the view that the crisis could be controlled and noted that Mr. Berisha attributed great significance to the economic aid the EU could provide. He said he was fully in agreement with what Mr. Simitis said, and particularly emphasized that the full identity of views among all EU member-states on how to handle the crisis boosted the prospects for lifting the impasse soon.

    He added that Mr. Berisha had categorically assured him that there was no problem for the ethnic Greek minority in his country and that he did not consider them in any way responsible for the current situation.

    In Tirana yesterday evening, President Berisha, after talks with Albania's opposition parties, agreed to suspend military activity against armed rebels and offer them an amnesty.

    In Athens, Government Spokesman Dimitris Reppas expressed the hope that the international initiatives being undertaken to defuse the crisis in Albania would lead to consultations between the political forces in the neighboring country for a resolution of the problem.

    Mr. Reppas also expressed satisfaction over the fact that developments had not been as unfavorable as first indications may have suggested.

    The spokesman noted that the visit of Foreign Under-secretary Yiannos Kranidiotis to Tirana on Saturday would be the first such visit by a minister since the crisis broke out. He clarified that Mr. Kranidiotis, in meetings with Albanian President Sali Berisha and opposition party leaders, would not be conveying the positions of some international organization but those of the Greek government.

    Replying to a question on main opposition New Democracy party leader Miltiades Evert's call on the government to declare that it would protect the ethnic Greek minority in Albania using all means, Mr. Reppas said that the minority was not in danger and that it would be a grave mistake for the Albanian problem to be turned into one concerning the minority.

    He added however that Greece was prepared to deal with every eventuality, but that what was important at present was for Athens to contribute to efforts to find a political solution.

    As far as the Greek government is concerned, Mr. Reppas said, any political solution presupposed two elements - the formation of a government of national consensus and the holding of "objective and honest" elections.

    "Mr. Berisha is the President of Albania, that is, a factor which cannot be ignored," the spokesman added.

    Mr. Reppas said that any European Union economic assistance would be linked to a political solution and disbursed gradually according to the progress in procedures towards such a solution "and of course it will be given to the government which charts a course for a way out of the crisis."

    Greek humanitarian aid, Mr. Reppas added, would be given to anyone in need of it, provided it was requested. Athens, he stressed, would insist on these conditions and wished to avoid creating problems. In this respect, the spokesman made clear that Greece did not want to appear to wish to play any kind of role in Albania's domestic political developments.

    Asked whether Greece would be willing to participate in an international military force for Albania, Mr. Reppas replied that if such a force were set up, Greece would participate, but that the issue would be addressed if and when it arose.

    Mr. Reppas also said that National Defense Minister Akis Tsohatzopoulos had been in contact with NATO Secretary-General Javier Solana, on whom he had impressed the need for a political solution and the avoidance of military force so as to avoid creating conditions of civil war.

    Mr. Tsohatzopoulos said, however, that NATO had a role, which it should play if the strife in Albania escalated into civil war, which would then necessitate the intervention of an international force.

    Mr. Solana assured the minister that if authorities in Albania use force to put down the unrest then the alliance will review its stance. At yesterday's meeting of the European Socialist Party, Mr. Reppas noted, Mr. Tsohatzopoulos had raised the issue of the release from prison of the leader of Albania's Socialist Party, Fatos Nano, and other political detainees.

    The resolution issued by the meeting contains a reference to this, Mr. Reppas added.

    [02] Kranidiotis

    Athens, 07/03/1997 (ANA)

    Meanwhile, briefing the members of Parliament's External Affairs Committee yesterday on developments in Albania, Foreign Under-secretary Kranidiotis said Greece's first priority was to protect the ethnic Greek minority in that country.

    When he goes to Tirana tomorrow, he said, he will convey Greece's concern about developments and the rights of the Greek minority.

    Mr. Kranidiotis told the committee that the situation was out of control in the neighboring country and was not being "guided" by anyone. "The people in revolt are out of control and this exacerbates our concern," he said.

    Mr. Kranidiotis said the revolt was economic, social and political in nature and was unrelated to the ethnic minority.

    Noting that Mr. Berisha was displaying self-restraint, Mr. Kranidiotis said there had been no really violent clashes anywhere "unless this means that Mr. Berisha is unable to strike".

    Greece, he continued, had repeatedly stressed its concern about the economic situation in Albania, both to Mr. Berisha and to its EU partners, without however foreseeing the present development.

    "The response of our partners was luke-warm and failed to avert the crisis," he said.

    Mr. Kranidiotis added Greece's borders were being tightly guarded and preparations had been made to prevent the possibility of a massive influx of illegal immigrants from Albania.

    "Up to now, there is no such phenomenon," Mr. Kranidiotis said, adding that Greece was making preparations to send humanitarian aid to the neighboring country and provide medical care for the wounded and for refugees.

    Mr. Kranidiotis also held a meeting yesterday with a delegation of ethnic Greeks from Albania, to whom he reiterated Greece's complete support.

    In a related development, four deputies of the ruling PASOK party and a colleague in the opposition Coalition of the Left and Progress have proposed, in a letter to Parliament President Apostolos Kaklamanis, the setting up of an interparty committee.

    According to the proposal, the committee would go to Albania for talks with all official bodies and to express Greece's good will and support to Albanian citizens.

    Mr. Kaklamanis meanwhile has expressed Greece's sensitivity over developments in Albania in a letter to his counterparts in the EU member states as well as to the president of the European Parliament. Main opposition New Democracy party honorary President Constantine Mitsotakis said in Hania yesterday that the Greek government observed a correct stance on the Albanian issue, adding that ND is finding its course once again.

    "The Greek government's stance is correct. Anyway, I was the first to make a statement on what should be done and I think that it is one of the rare cases in which all of us are agreed on an important foreign policy issue today," he said.

    [03] Papandreou warns Albania troubles may spread

    Paris, 07/03/1997 (ANA/Reuter)

    Greece's Alternate Foreign Minister George Papandreou has warned that trouble in Albania could spread through the Balkans.

    Asked in an interview published on Thursday by the newspaper "Le Monde" if he believed the crisis could spread outside Albania's borders, Mr. Papandreou replied: "Yes... and we Greeks want the crisis contained within the borders of Albania and not to spread to the Former Yugoslav Republic of Macedonia, to Bulgaria or to Kossovo.

    "We have also asked Mr. Berisha to make sure the Greek minority in southern Albania is not involved in this conflict, which is none of its concern. In times of crisis, minorities are too often chosen as sacrificial lambs," he said.

    Mr. Papandreou said Europe should encourage Mr. Berisha to introduce more democracy and open talks with all political forces towards a coalition government.

    [04] Anastasios calls for peace

    Gjirokaster, 07/03/1997 (ANA - S. Tzimas)

    Archbishop Anastasios of Tirana and All Albania yesterday appealed to all sides in Albania to exercise self-control and display conciliation.

    In exclusive statements to the ANA, the archbishop stressed that conflict and bloodshed should be prevented at all costs.

    "At this difficult moment in time for the country... I have just a few words to say in all directions. No more bloodshed. No to conflict. No to arms. No to hatred in the heart...

    "Only with self-control, repentance, truth, forgiveness and conciliation can substantial peace be secured and the path open to a better future," Anastasios said.

    [05] Reports of Berisha distributing weapons

    Athens, 07/03/1997 (ANA)

    There were persistent reports yesterday that the Berisha government was distributing 5,000 weapons to members of the ruling Democratic Party in the Gjirokaster and Sarande areas, as armed rebels began to organize with the help of former military officers.

    Gjirokaster appeared to be becoming the base for military operations to stamp out the uprising in the surrounding towns. The town has been surrounded by army forces and three tanks patrol the central roads.

    Defense of the towns still under the rebels' control appeared to be commanded by demobilized soldiers and officers. The situation, however, appeared to be calm.

    In another development yesterday, two Albanians who were wounded in the unrest were transported to a Corfu hospital for medical treatment.

    [06] COREPER discusses Albania situation

    Brussels, 07/03/1997 (ANA - M. Savva)

    The European Union's Political Committee (COREPER) yesterday discussed the latest dramatic developments in Albania.

    Discussion produced a draft statement which will be handed to the Berisha government in Tirana today by visiting Dutch foreign minister Hans van Mierlo.

    Sources said that the statement expresses support for a political solution of the crisis in Albania and recognizes the European 'dimension' of the problem, which, nevertheless, certain diplomats in Brussels were describing as an "internal" problem of a third country.

    The statement also calls for a government of broad consensus in Tirana, the holding of democratic elections in the framework of a democratic constitution and respect for human rights and the freedoms of the minorities, the same sources said.

    It also urges President Sali Berisha to consent to a visit to Tirana by former Austrian chancellor Franz Vranitzky.

    [07] Albanian soldiers request political asylum in Greece

    Athens, 07/03/1997 (ANA)

    Seven unarmed Albanian soldiers in civilian clothes yesterday crossed the border and asked for political asylum in Greece.

    They are the first to do so since the beginning of the armed revolt in the south of the country earlier this week.

    Two Albanian airmen landed a military plane in Italy on Tuesday and asked for political asylum.

    [08] Greece has important role to play in Europe, Albright says

    Washington, 07/03/1997 (ANA - A. Ellis)

    US Secretary of State Madeleine Albright, during a meeting with Foreign Minister Theodoros Pangalos yesterday, spoke of bilateral relations, Greece's role in Europe and in the Balkans, and Greek-Turkish relations.

    "Greece has an important role to play in rebuilding Europe. We will continue to work together on issues such as Bosnia and the Balkans," she said.

    "The US is ready to help, if it can, in resolving long-standing differences between our allies, Greece and Turkey, in the Aegean and elsewhere. We will also discuss opportunities which exist to promote a solution between the sides in Cyprus and we will make a review of the situation in Albania. Relations between Greece and the US are strong and are becoming all the stronger," she said, welcoming Mr. Pangalos at the State Department yesterday.

    Ms Albright said Washington has "a great interest in the Cyprus issue", describing it as a "top priority" and saying 1997 is "a year of opportunity to resolve it due to the prospect of Cyprus' accession to the EU."

    Referring to the Aegean, the Secretary of State said "it is very important for Greece and Turkey to discuss these issues. We are concerned over increased tension in the Aegean. It is a question of two NATO allies. The region is strategically important and we think that the best way to have the issues resolved is through dialogue between the two countries."

    Commenting on the Albanian crisis, Ms Albright said the US is "concerned over the wave of refugees and we believe that the sole solution is a peaceful settlement. We are carefully watching the whole situation. We support the OSCE's mission under (former

    Austrian chancellor Franz) Vranitzky, as well as the EU's mission."

    "We will not impose a solution on the political problem in Albania. The political forces in Albania must find a solution and take the country out of the present situation," she said.

    Mr. Pangalos described the meeting as "very useful", adding that Greece's relations with the US "are steadfast and continuous."

    The foreign minister extended an invitation to Ms Albright to visit Greece, which was accepted.

    Speaking on Greek-Turkish relations, Mr. Pangalos said "the position of the US that a dialogue is necessary is known. They explained to us of course that with this word they do not necessarily mean negotiations, as Turkey is seeking.

    "We have never turned down the possibility of there being political contacts between Greece and Turkey even if it is to .. see the list of our differences and see whether we can revise it."

    Referring to the Cyprus problem, he said "We will not take spectacular initiatives. This is not the job of foreign ministers."

    Replying to a question by a Turkish reporter on Turkey's position in Europe, Mr. Pangalos said "Turkey certainly belongs to Europe. It is a big part of European history and Greece will never change its position on this, because if Turkey is not a part o f European history, then neither is Greece a part of European history. But we believe that those people in Ankara who promote differences which do not exist in reality and express territorial claims and threats of war against Greece should reconsider the whole approach of Turkish foreign policy.

    "There are no real issues between Greece and Turkey which cannot be resolved very easily, given that some will calm down. This is what we are calling on Turkish officials to do."

    He called on Turkey to "stop threats and claims against Greece. You can find an important ally in Greece, because we know each other well. We have great interests in being together."

    Referring to Albania, Mr. Pangalos said "both the missions of the OSCE and the EU will be supported and we will both contribute to their success to the extent that we can."

    He noted that Greece is in contact with the Albanian leadership and parties.

    [09] Pangalos outlines Greece's proposal to help defuse Albanian crisis

    Boston, 07/03/1997 (ANA - M. Georgiadou)

    Mr. Pangalos, on a visit to Boston on Wednesday, referred to Greece's proposal to help defuse the crisis in Albania, as well as the Cyprus issue and Greek-Turkish relations.

    The foreign minister's comments were made on a tour of institutions including Taft University, the Kennedy School of Public Administration and the Fletcher School of Legal and Diplomatic Studies.

    Mr. Pangalos emphasized that the Greek government's proposal for a meeting of Albanian's political parties in Athens was simply to enable the Albanian government and opposition to agree on a transitional government to lead the country to new elections.

    "We do not wish to become involved ourselves in such a meeting," he said, "Nor do we wish to play a mediating role."

    He added that the situation in Albania would have been unthinkable without indirect aid from Greece in the form of earnings by Albanian illegal immigrant workers in Greece.

    [10] Reppas on Ciller's letter to EU presidency

    Athens, 07/03/1997 (ANA)

    Greece's policy on Greek-Turkish relations is not to change in any way, as it is "both correct and effective", government spokesman Dimitris Reppas said yesterday.

    Mr. Reppas made the statement in reply to a question on whether Greece's position will be amended following a letter addressed to the European Union's Dutch presidency by Turkish Foreign Minister Tansu Ciller.

    The letter was a reply to the EU Council of Ministers decision formulated on July 15, 1996.

    Mr. Reppas said the letter became known to the Greek government from what the European Council President Vim Kok told Prime Minister Costas Simitis.

    Mr. Reppas said the government is studying the letter, assessing its points and will discuss the issue with its EU partners.

    He added that Ms Ciller's letter contains some positive responses to the July 15 recommendations.

    However, he added, those elements which can not be considered to satisfy the EU's positions must also be examined.

    Ms Ciller sent a confidential letter to the EU last week, presenting Ankara's stance on Greek-Turkish relations and saying that Turkey will conform to the terms of the July 15 decision.

    In the letter, reportedly sent to her Dutch counterpart Hans van Mierlo, Ms Ciller provided guarantees to the EU regarding bilateral relations.

    [11] Greece to request WEU acts as European 'security mechanism'

    Athens, 07/03/1997 (ANA)

    Greece's representation to the West European Union (WEU) is to request that the WEU acts as a security mechanism for Europe, it was announced yesterday.

    Greece's request will be officially made during a WEU symposium to be held in Athens on March 11-13.

    According to a Parliament announcement, the WEU Symposium will center on "new problems emanating from the enlargement of NATO and European institutions in security issues."

    The Greek government will be represented at the symposium by National Defense Minister Akis Tsohatzopoulos, Alternate Foreign Minister George Papandreou and Parliament President Apostolos Kaklamanis.

    [12] Athens 2004 Olympics bid presented

    Athens, 07/03/1997 (ANA)

    Athens' official candidacy to host the 2004 Olympic Games was presented to the International Olympic Committee's (IOC) 14-member Selection Committee in Lausanne yesterday.

    The presentation was made by President of the Athens 2004 Olympic Games Committee Yianna Angelopoulou-Daskalaki, who offered the Committee members CD ROMs containing information about the city of Athens.

    "It is a fictitious journey to Athens seven years prior to the hosting of the Olympic Games in Greece's capital," Ms. Angelopoulou-Daskalaki said.

    She further announced the organization of events in all Greek cities which have a historic relation with the spirit of the Olympics.

    The events will last from 2001 through 2004.

    Speaking to reporters after the meeting, Ms. Angelopoulou-Daskalaki said she elaborated on issues ranging from the construction of the Olympic village to matters of environmental concern.

    Regarding the environment, Ms. Angelopoulou-Daskalaki said that a round table discussion will take place on March 12 in Athens with the participation of specialists representing non-governmental organizations, who will elaborate on the findings of a survey on Athens' environment.

    The capital's mayor, Dimitris Avramopoulos, who is also a member of the Athens 2004 Olympic Games Committee, said environmental pollution in Athens decreased by 30 per cent in recent years.

    Mr. Avramopoulos said that in the next few years, Athens is expected to be one of the cleanest European capitals.

    The Mayor added that the Athens Metro and the Spata airport are also expected to finish by the year 2000.

    The IOC Selection Committee will announce the shortlist from the 11 candidate cities today.

    [13] German president to receive honorary doctorate from Athens University

    Athens, 07/03/1997 (ANA)

    German President Roman Herzog is to be awarded an honorary doctorate by Athens University Law School at a ceremony to be held on March 11, according to an announcement by the German Embassy in Athens yesterday.

    The embassy said Mr. Herzog would be honored for his scientific work as a statesman and constitutional expert and for his achievements as a former president of Germany's Federal Constitutional Court.

    [14] Premier to visit Romania

    Bucharest, 07/03/1997 (ANA)

    Prime Minister Costas Simitis will visit Bucharest on March 20-21 at the invitation of his Romanian counterpart Victor Ciorbea, Greece's ambassador to Romania, Christos Alexandris, announced yesterday.

    Making the announcement during talks with Romania's Minister for European Integration, Alexandru Herlea, Mr. Alexandris reiterated Greece's full support for Romania's efforts to join NATO during the first stage of the Alliance's enlargement.

    "In the sector of military co-operation, after the USA, Romania is a preferential partner for Greece," Mr. Alexandris said.

    [15] Palestinian police officers to be trained in Greece

    Athens, 07/03/1997 (ANA)

    Greek and Palestinian officials yesterday examined ways of cooperating on matters related to public security, combating terrorism and drug smuggling and strengthening the Palestinian police.

    Talks in Athens between Public Order Minister George Romeos and Palestinian Authority Interior Under-secretary Ahmad Al Tamimi focused in particular on the training of Palestinian police officers in Greece.

    Mr. Tamimi is currently in Greece at the head of a Palestinian delegation, following an official invitation extended by the Greek government, for talks aimed at promoting co-operation in a number of sectors.

    Mr. Romeos responded positively to Mr. Tamimi's request for the training of Palestinian policemen, accepting an initial six officers to be trained in Athens.

    [16] Memorial service held for Melina Mercouri

    Athens, 07/03/1997 (ANA)

    A memorial service was held yesterday at the First Athens Cemetery to mark the third anniversary of the death of late actress and Culture Minister Melina Mercouri.

    Speaking on the occasion of the anniversary, Culture Minister Evangelos Venizelos described Mercouri as "a symbol of Greek culture."

    "Melina has been identified with ... what Greek civilization represents," Mr. Venizelos said, adding that the internationally prominent figure will live through the ages "in the collective conscience of this country."

    "Those of us who met her consider ourselves lucky," government spokesman Dimitris Reppas said, describing her as an outstanding person.

    Meanwhile, the Athens Prefectural Council announced that it will launch a special annual prize, themed "the ambassador of Hellenism", to be awarded to those who will have contributed to the promotion of Hellenism in the arts.

    [17] ND leadership candidates meet on changing party statute

    Athens, 07/03/1997 (ANA)

    The four candidates for the leadership of the main opposition New Democracy (ND) party met yesterday for two hours to examine possibilities for jointly proposing changes to the party's statutes at its national congress later this month.

    George Souflias said after the meeting that a "good discussion" had been held, adding "I believe that we will attain common positions on most issues".

    Costas Karamanlis described the meeting as "constructive and creative", saying "we can work towards improving institutional principles which is of great importance but of course it is even more important to strictly adhere to those principles on which we in this party agree".

    Vyron Polydoras said that the meeting was held in a very good atmosphere and expressed the view that the contenders would reach agreement on a common proposal regarding most issues concerning the party's statutes.

    He added that a new meeting would be held next week, possibly on Wednesday.

    The fourth contender, present ND leader Miltiades Evert did not make statements after the meeting.

    According to sources, the four agreed that the party's national congress should be held every two years, the party leader should have a four-year term and that the vast majority of congress delegates should be elected directly by party members.

    [18] PASOK's Central committee issues conditions for party restructuring

    Athens, 07/03/1997 (ANA)

    A decision by the fifth session of PASOK's Central Committee, released yesterday, set seven conditions for the party's ideological and political restructuring.

    These include a new relationship between government and party, active participation in social dialogue, planning for action at regional level, dialogue for the modern Left and the formulation of permanent principles for the party's political action.

    The same decision refers to the incompatibility of parliamentary candidacy with the holding of top posts in public positions.

    [19] Teachers will continue strike for eighth week

    Athens, 07/03/1997 (ANA)

    Secondary school teachers early yesterday decided to continue their strike for the eighth consecutive week.

    Government spokesman Dimitris Reppas said the strike's continuation was unjustified, as the government had already satisfied a large part of the teachers' pay demands and there was an almost complete convergence on institutional demands.

    He added that the problem of the strike could be solved without resorting to the old emergency practice of civil conscription, as it seemed that an increasing number of teachers had begun returning to classrooms. Meanwhile, Education Minister Gerassimos Arsenis reiterated the ministry's aim to begin a process of reform in September.

    "The reform of education does not only require political will, which is in place, it does not only need resources, which are in place, it also needs the support of teachers, who must look forward and not backwards," he said.

    [20] Premier confers with advisory committee on social dialogue

    Athens, 07/03/1997 (ANA)

    Prime Minister Costas Simitis had a meeting yesterday with the Economic and Social Committee focusing on the conduct of social dialogue aimed at improving Greece's economy.

    In statements after the meeting, Under-secretary to the Prime Minister's Office George Paschalidis clarified that the meeting aimed at defining the borders and equilibrium of the dialogue.

    "The dialogue refers to common efforts for the restoration of the economy, development with social justice and Greece's equal participa-tion in European Economic and Monetary Union (EMU)," Mr. Paschalidis said.

    Committee President Ioannis Koukiadis said the government should enter dialogue without any predetermined positions and be willing to commit itself at the close of the dialogue.

    [21] Local Employment Pact pilot programs to be implemented immediately

    Athens, 07/03/1997 (ANA)

    Labor Minister Miltiades Papaioannou said Local Employment Pacts (TSA) provide social partners with a framework "to agree on issues of labor and production flexibility, productivity and modernization."

    Speaking at a conference organized by the National Labor Institute yesterday, the minister said the pacts will be implemented immediately, in the form of pilot programs, in the regions of Kozani-Florina, western Athens and Piraeus, Achaia, Magnisia, Drama, Imathia and Voiotia.

    Mr. Papaioannou said the pacts will constitute a voluntary co-operation formation in which local authorities, employers and working people will also participate, with the aim of increasing employment in the region through the creation of special tax, lab our and insurance conditions.

    [22] National Bank issues English-language bulletin

    Athens, 07/03/1997 (ANA)

    The National Bank of Greece yesterday issued the first edition of its new English-language bulletin entitled "Economic and Financial."

    The new bulletin is directed at the bank's major clients and foreign institutional investors and refers to developments in the Greek economy and to fiscal markets.

    Special reference is made to the course of certain basic economic indicators, with the bulletin stating that the balance of payments deficit is under control, inflation is following a downward trend. Special emphasis is placed on the gradual decrease in the deficit from 14.2 per cent of GDP in 1993 to 7.6 per cent in 1996 and an anticipated 4.2 per cent in 1997.

    On the question of exchange policy, the publication stressed that stability is expected to be maintained in the drachma parity against a package of currencies, while at the same time it predicts that it will increase in value against the mark and decrease against the dollar.

    The bulletin further said the trend for indicators to improve at the Stock Exchange is expected to continue over the next two years.

    End of English language section.


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