Athens News Agency: Daily News Bulletin in English, 97-11-18
From: The Greek Press & Information Office, Ottawa Canada <[email protected]>
ATHENS NEWS AGENCY BULLETIN (No 1343), November 18, 1997
Greek Press & Information Office
Ottawa, Canada
E-Mail Address: [email protected]
CONTENTS
[01] Premier stresses state's role in development at int'l conference
[02] ... Public Administration Minister Papadopoulos
[03] Annual Polytechnic march concludes with only minor disturbances
[04] ... Lower turnout
[05] ... Thessaloniki
[06] ... Cyprus protest
[07] Mirage 2000-5 lands for test flights
[08] Kranidiotis contacts with German officials
[09] ... Speech at foreign affairs institute
[10] Athens awaits more from Holbrooke initiative
[11] KYSEA convenes tomorrow
[12] Tsohatzopoulos attends WEU meeting
[13] Petsalnikos in Vienna
[14] ND holds discussion on budget, criticizes measures
[15] Multinational PfP military exercise in Macedonia
[16] PM surprises IKA staff
[17] Greek diplomat visits Imvros, Tenedos
[18] Reservations on proposal for informal meeting of euro
participants
[19] Athens, Sofia attempt to get energy projects moving
[20] ... Foreign policy
[21] Greece sees new round of commercial bank rate hikes
[22] Greek stocks hammered by rate hikes, shed 3.88 pct
[23] Greek bourse dumps plan to go public
[24] Greece defends cash spent on promoting new power plant
[25] Bank of Piraeus bid rejected in Cretabank tender
[26] FYROM to announce contractor for hydro-electric unit Thursday
[27] Greek-Turkish co-operation to prevent Aegean pollution
[28] SACEUR in Ankara for meetings
[29] Onassis Foundation trustees ridicule Roussel claims
[01] Premier stresses state's role in development at int'l conference
Athens, 18/11/1997 (ANA)
Prime Minister Costas Simitis yesterday underlined the need of
maintaining the state's role as a "lever" of development and a
guarantor of social justice, while addressing a regional
conference in Thessaloniki entitled "Public Administration in
Transition ."
"The demand of confirming the role of the state and of its
modernization is determined more and more by increasing concern
over visible dangers. The problems of poverty, unemployment,
environmental degradation and organized crime cannot be tackled
with the administration's passive stance," he told ministers,
diplomats and public officials from some 22 central, eastern
European and former Soviet Union republics.
The conference, which began yesterday, is organized by the Greek
interior, public administration and decentralization ministry
and the UN's economic and social affairs agency, UNDESA, and
aims at defining the roles and needs of developing European
countries in their transition to new conditions, particularly in
the sector of public administration. Representatives of
international organizations such as the United Nations, World
Bank, the European Investment Bank, OECD and the European Union
are also attending.
"We must replan the state. We must realize that what is
necessary for us to forge ahead is to process new strategies and
tactics aligned with the new reality. Two centuries of progress
in Europe have left us with a rich heritage which we must
maintain and continue. The state, being a lever of development
and a guarantor of social justice, constitutes an inseparable
part of this valuable heritage," he added.
"The change in the mission of the state and the promotion of new
operations attach new dynamism to the principles of
decentralization, effectiveness and the citizen's participation,
principles which must determine the organization of public
administration.
"However, they necessitate the processing of new principles.
Principles enabling administration to acquire a new content, it
will come closer to the citizen and will better serve his
needs," he went on to say.
"The modern 'state-headquarters' in this way promotes the
development of a robust society of citizens, invests in social
capital and shapes a framework focusing on man. It requires
strong institutional structures, capable of maintaining and
reproducing the quality of services rendered with the stable
criteria of specialization, initiative, collective action and
professionalism. Among others, this means that decisions must be
taken at a level which guarantees their effectiveness and the
participation of the citizen. Precisely for this reason, certain
operations must be conveyed from the state to local
self-administration or to society. With these conditions, the
state is being reshaped in accordance with the claims of our
times," he said.
"We must realize that administration exists to serve the needs
of the citizen. It exists to create the conditions helping the
modern man to realize his freedom. Indeed, this need becomes
even more imperative with the data of modern technology, since
the possibilities it provides for man at present are huge," he
further said.
"In Greece we have implemented a wide plan to strengthen
decentralization with the transfer of duties from the center to
the region and the upgrading of local self-administration at all
levels. In this way, the administration will operate as close to
the citizen as possible. We are also promoting modernization
programs at a speedy rate for administrative infrastructure and
additional training for cadres," he added.
"The region's past teaches us that traps exist which we must
avoid, national rivalries, national antagonisms and the view of
the one's suzerainty over the other. Let us turn our glance to
the future. Nothing is more important that consolidating peace.
In any case, peace and progress are interwoven. Therefore, we
must strengthen our ties and develop more permanent institutions
of co-operation at all levels," he said.
Mr. Simitis said that in the morning representatives of the UN
discussed the possibility of establishing an International
Center which could include regional centers. He added that
Greece, being a European Union member-state and a founding
member of the UN, would be pleased and honored to host and
promote this creative initiative in Thessaloniki.
"We must continue and strengthen the effort we are starting
today in every suitable way to be able to live up to the
achievement of its main targets: better rule, the improvement of
our citizens' quality of life, viable development, multi-faceted
cooperation between us and the consolidation of peace in the
region," he concluded.
[02] ... Public Administration Minister Papadopoulos
Athens, 18/11/1997 (ANA)
The efforts undertaken by Athens for the more effective
operation of public services and the significance placed on
professionalism and ethics in the code of conduct for civil
servants were stressed by Interior, Public Administration and
Decentralization Minister Alekos Papadopoulos yesterday at the
UN-sponsored conference.
Mr. Papadopoulos admitted that the dependence of the Greek
public service on politics has led to a gradual erosion of
professional standards and ethics in the sector. He called for a
series of measures aimed at restoring the credibility of the
sector, making it capable of meeting contemporary challenges.
These included the appropriate evaluation in recruiting and
promoting staff, training and the eventual separation of public
service from the political system.
The conference is the second of its kind organized by the UN,
which is also creating an information center to promote
specialized knowledge and international co-operation on
government, public administration and economy. The center will
be based at UN headquarters in New York, with regional bureaus
in each continent. Athens News Agency
[03] Annual Polytechnic march concludes with only minor disturbances
Athens, 18/11/1997 (ANA)
Celebrations for the 24th anniversary of the Polytechnic
students' uprising against the military junta ruling the country
in 1973 culminated yesterday with a customary rally in central
Athens and march to the US embassy.
This year the commemoration of the 1973 uprising was celebrated
mostly peacefully, apart from minor incidents by young
self-styled anarchists, who threw stones and homemade firebombs.
The attacks caused minor material damage to private vehicles and
fire brigade trucks. In addition, an explosion earlier in the
day occurred outside the political office of National Economy
and Finance Minister Yiannos Papantoniou, a fifth-floor
apartment opposite the Polytechnic.
Sources said the explosion was caused by a makeshift bomb made
of gas canisters.
Fire brigade and police officers that rushed to the scene were
attacked by groups of masked youths throwing rocks and
firebombs. Police countered with tear gas, while two men
carrying electric saws dropped them and ran off when chased by
authorities.
However, nothing reminded of past years' violent incidents
between self-styled anarchists and police.
On its part, Parliament observed a minute's silence to
commemorate the November 17 anniversary, while speeches were
delivered by the Parliament president, the education minister
and political parties' representatives.
In an unprecedented maneuver, approximately 150 construction
workers entered the campus of the Polytechnic from a gate on
Tositsa street shortly before five yesterday afternoon, throwing
out all self-styled anarchists they reportedly found inside.
Afterwards, they locked the Polytechnic's gates and remained on
hand as security.
A few minutes later anarchists assembled in Patission street
attempted to break through the main gate and pelted the
construction workers with stones and sticks.
Four platoons of riot police appeared from side streets and
ordered the youth to disperse, otherwise police would intervene
to remove them.
Upon seeing other youth groups leaving the scene, the
self-styled anarchists ultimately fled in the direction of
Haftia to avoid arrest.
Riot police then encircled the Polytechnic.
Approximately 100 youths had taken refuge in the Polytechnic
grounds last night after they attacked fire brigade vehicles
with stones and firebombs.
[04] ... Lower turnout
Athens, 18/11/1997 (ANA)
Rain earlier in the day threatened to dampen spirits but the
weather cleared towards noon, as police said the crowd marching
to the US embassy was smaller than in previous years.
President of the Republic Kostis Stephanopoulos, Athens Mayor
Demetris Avramopoulos and university officials all laid wreaths
at the Polytechnic memorial in the morning.
Main opposition New Democracy leader Costas Karamanlis, a
representative of Defense Minister Akis Tsohatzopoulos and
Coalition of the Left and Progress leader Nikos Constantopoulos
were due to lay their wreaths later in the day.
[05] ... Thessaloniki
Athens, 18/11/1997 (ANA)
Police in Thessaloniki had also taken draconian but discreet
measures to avoid violence during the port city's celebration of
the anniversary.
Aristotelian University officials said measures had been taken
to ensure the school's grounds were fully protected.
[06] ... Cyprus protest
Nicosia, 18/11/1997 (ANA/CNA)
For the first time Cypriot students yesterday held a sit in
protest outside the US embassy in Nicosia commemorating the
uprising.
"No more words and self-criticism, we want substantive help",
the students chanted.
They were referring to a statement made last week in Nicosia by
the US Presidential emissary for Cyprus Richard Holbrooke,
describing his country's policy in the region from the late
1960s to the Turkish invasion and occupation of Cyprus in 1974
as shameful.
Before reaching the US embassy the students and pupils stopped
outside the education ministry to demonstrate against its
decision not to allow them to hold the sit in.
The Cypriot youth did not hand in their petition at the US
embassy, protesting the tight security measures and barbed wire
put up by Cyprus police to avoid any incidents.
[07] Mirage 2000-5 lands for test flights
Athens, 18/11/1997 (ANA)
A French-made Mirage 2000-5 fighter landed at Tanagra Air Base
yesterday, with Hellenic Air Force pilots ready to test-fly the
plane in the next few days.
At the same time, the chief of the general air staff, Lt. Gen.
Georgios Antonetsos, began an official visit to France yesterday
at the invitation of his counterpart, Gen. Jean Ranoux.
[08] Kranidiotis contacts with German officials
Bonn, 18/11/1997 (ANA - P.Stangos/A. Podimata)
Foreign Under-secretary Yiannos Kranidiotis began a series of
contacts with German officials in Bonn yesterday, aimed at
exploring "the German factor" in diplomatic efforts towards
progress in Greek-Turkish relations and the Cyprus issue.
Yesterday Mr. Kranidiotis met with Foreign Under-secretary Peter
Hartmann and was to meet later with other officials.
The question for Greece is how far Bonn is in a position, or
even willing, to encourage Ankara to improve relations with
Greece, giving the latter more flexibility in considering
Turkey's future in the European Union.
"If this prospect is not secured, the German side must get used
to the idea that Greece will use its right of veto regarding
Turkish participation in the European Conference," said Mr.
Kranidiotis.
The political climate in Bonn with regard to both Greek-Turkish
relations and Cyprus is not considered particularly favorable.
Firstly, Germany believes Greece should lift the freeze on EU
funds to Turkey as a goodwill gesture.
Secondly, Germany has separated Turkey's participation in the
proposed European Conference currently being planned from
conditions the EU has set Turkey, considering that it (the
conference) is not a component of accession strategy but a
symbolic gesture aimed at strengthening political forces in
Turkey which want a future in Europe.
Finally, German diplomats stress that a prerequisite for Cyprus'
accession negotiations should be a political solution to the
Cyprus problem. Germany also believes that the participation of
Turkish Cypriots in the Cypriot Republic delegation is not
feasible, implying that a way should be found to accept, if not
recognize, the "existing separate entity of northern Cyprus".
[09] ... Speech at foreign affairs institute
Bonn, 18/11/1997 (ANA)
Speaking later at a closed session of the Institute of the
German Foreign Society at noon, Mr. Kranidiotis reiterated that
the Cyprus problem was not a bilateral issue, but one of
invasion and occupation, and called on the US and the EU to
exercise their influence on Turkey in the direction of a
bi-zonal, bi-communal federative solution.
He stressed that Greek and the Greek Cypriot side had accepted
such a solution, despite the fact that the overwhelming majority
of the island's inhabitants were Greek Cypriots.
He added that the Cyprus problem was at the heart of the problem
and had a particularly negative impact on Greek-Turkish
relations, preventing their full normalization as long as it
remained unresolved.
Mr. Kranidiotis placed strong emphasis, on the need for Turkey
to accept the principles of international law and the mechanisms
envisaged for dealing with problems. He pointed out that Greece
has recognized the compulsory jurisdiction of the International
Court at The Hague, while Turkey has not, despite the fact that
the European Commission itself has noted in a report that the
countries wishing to enter the EU must do so.
Commenting on Turkey's positions, Mr. Kranidiotis said that
Ankara wants political dialogue on all issues, rejecting the
legal substance of problems and Greece's step-by-step approach,
and reiterated that Athens does not accept the idea of sitting
at the negotiating table and discussing its sovereign rights and
its territorial integrity.
Referring to the results of the recent southeast European
leaders' summit on Crete, Mr. Kranioditis stressed the
significance of the fact that the leaders of Balkan nations all
met for the first time and declared their intention to leave
behind the era of rivalry and conflict and work together towards
transforming the peninsula into an area of political and
economic co-operation and stability.
He emphasized that the most important message from the summit
was that the Balkans was an indivisible part of Europe and that
the countries comprising it should gradually be incorporated in
European institutions.
"The new Europe being built currently would be incomplete and
unintegrated without the participation of Balkan nations, whose
historical traditions and cultural values constitute part of
European heritage," he said.
Finally, he reiterated that Greece does not see the role and the
usefulness of establishing a permanent European conference, as
the proposal in the Commission's report on the Agenda 2000 for
the establishment of a 'partnership' between the EU and the
candidate member-countries is complete.
[10] Athens awaits more from Holbrooke initiative
Athens, 18/11/1997 (ANA)
The Greek government views with interest the initiative
undertaken by US presidential emissary on the Cyprus issue
Richard Holbrooke, its spokesman Demetris Reppas said yesterday,
adding that the particular initiative would come into its own
after the Cypriot presidential election in February.
Mr. Reppas said that Mr. Holbrooke's initiative, while a
positive development, would also acquire "positive elements" if
it corresponded to the spirit and the substance of relevant UN
Resolutions. Asked to comment on US interest in upgrading
Turkish-European Union relations, Mr. Reppas said the EU had
passed specific resolutions (on July 15 1996 and April 29, 1997).
Mr. Reppas said the interest expressed by various circles was in
fact the same as preaching to the converted, since Greece also
wanted an improvement in EU-Turkey relations, although based on
the framework established by the EU.
"The question is whether Turkey also wants this, in which case
it should act accordingly," said Mr. Reppas.
Commenting on statements by German Foreign Minister Klaus Kinkel
that Cyprus could not join the EU without a resolution of the
political problem, the government spokesman said:
"Statements are made from time to time, but the issue remains
that we have to intensify our efforts based on the EU's
resolution according to which negotiations for the accession of
Cyprus to the European Union will begin on April 2, 1998."
[11] KYSEA convenes tomorrow
Athens, 18/11/1997 (ANA)
The Government Council for Foreign Affairs and Defense (KYSEA)
will convene tomorrow under the chairmanship of Prime Minister
Costas Simitis, government spokesman Demetris Reppas said
yesterday. Mr. Reppas said KYSEA would examine whether to
replace the chief of the National Defense General Staff General
Tzoganis or extend his tenure.
General Tzoganis' post is - by law - for a two year period. Also
to be discussed are developments in the state's armaments
program and relations with the Western European Union and NATO.
[12] Tsohatzopoulos attends WEU meeting
Athens, 18/11/1997 (ANA)
National Defense Minister Akis Tsohatzopoulos left for Germany
yesterday to attend a meeting of Western European Union (WEU)
defense ministers, which opened yesterday and continues today.
Speaking upon his arrival in Erfrurt (in the former East
Germany), Mr. Tsohatzopoulos described the WEU meeting as
crucial, since specific decisions will be taken at
organizational and political levels to enable the Union perform
its new duties as the EU's defense wing.
The Greek minister announced he will have a meeting with his
British counterpart, as Greece is taking over the WEU presidency
in January 1998.
Commending on developments in Iraq, the defense minister
expressed his concern with regard to the latest developments,
saying "he could not imagine of any action that could lead to a
new confrontation".
Mr. Tsohatzopoulos placed himself in favor of a peaceful
settlement of the current problem in Iraq, reiterating that
international principles must be respected.
The WEU's defense ministers had their first meeting yesterday,
after which they attended a dinner together with the WEU's
foreign ministers.
At a joint session today, the WEU defense and foreign ministers
will look into the role and priorities of the WEU after the
Amsterdam and Madrid summits. That session is to be followed by
separate meetings between the defense and foreign ministers.
[13] Petsalnikos in Vienna
Vienna, 18/11/1997 (ANA - D. Dimitrakoudis)
Macedonia and Thrace Minister Philippos Petsalnikos will be a
guest at today's grand ceremony at the University of Vienna.
The ceremony is being organized by the faculties of philosophy
and classical literature in co-operation with the Intercultural
Society Macedonia of Vienna, to which the relative initiative
belonged, and on the occasion of the Aristotelis Award given by
the ministry to the noted Austrian professor and philhellene
Hans Svable.
[14] ND holds discussion on budget, criticizes measures
Athens, 18/11/1997 (ANA)
The new state budget for 1998 was the main subject of discussion
at yesterday's meeting between main opposition New Democracy
leader Costas Karamanlis and the party's heads of sectors.
One of the concerns voiced during the meeting was the need for
the main opposition party to focus its state budget critique not
only on increased taxation, but also on state expenditure and
over-spending.
ND spokesman Aris Spiliotopoulos described the 1998 budget as
"the toughest in the past decade, hitting the lower-income
classes, with the government maintaining the existing gap
between higher classes and the salaried and pensioners".
Mr. Spiliotopoulos further accused the government of
inconsistency as far as its words and actions were concerned,
saying that the prime minister had pledged both before and after
the elections that there would be no additional taxes. "The
government's (economic) policy begins with and ends in
tax-collecting measures," he said.
According to the ND spokesman, an average income family would
have to pay 270,000 drachmas more annually, as a result of the
imposition of new taxes and the increase of existing ones.
[15] Multinational PfP military exercise in Macedonia
Athens, 18/11/1997 (ANA)
A hypothetical natural disaster in western Macedonia in
combination with a possible theft of military equipment from
units in the area comprise the scenario for the multinational
'Prometheus 97' military exercise, being held in the framework
of the Partnership for Peace (PfP) program.
The final phase of the exercise, whose scenario partly reminds
of recent events in Albania and Somalia, will take place on
November 22 in the Polykastro and Edessa areas. Partaking in the
exercise are 38 officers and so ldiers from Albania, 27 from
Armenia, 29 from Bulgaria and 47 from the Netherlands. The 33rd
Hellenic Army Brigade, participating with about 200 men, also
belongs to the NATO's "Rapid Reaction Force" in SE Europe.
The exercise will be attended by observers from Italy, Romania
and Poland.
[16] PM surprises IKA staff
Athens, 18/11/1997 (ANA)
Prime Minister Costas Simitis surprised staff at the state
Social Security Foundation (IKA) medical center in Neos Kosmos
yesterday morning, where he arrived for a spot-check on the
operation of the center only to find delays and absent doctors.
According to government spokesman Demetris Reppas, the prime
minister commented on delays caused by the failure of doctors to
turn up for appointments.
Mr. Simitis called for less bureaucracy and more punctuality on
the part of staff, although he characterized the center's
operation as "satisfactory".
Mr. Reppas said he would not call Mr. Simitis' visit a "raid",
but "practical proof of his interest in the problems of Greek
citizens".
[17] Greek diplomat visits Imvros, Tenedos
Ankara, 18/11/1997 (ANA - A. Abatzis)
Greece's consul general in Istanbul, Fotis Xydas, started a
three-day visit to the islands of Imvros and Tenedos yesterday.
Mr. Xydas had visited Imvros last June, but it is the first time
that a Greek consul general in Istanbul visits Tenedos.
"I am carrying out a necessary duty," he said, speaking to the
ANA on the purpose of his visit.
He held contacts with local Turkish authorities yesterday and
with ethnic Greeks on Tenedos, who now number only 25. Ethnic
Greeks living on Imvros number about 300.
Mr. Xydas will have a meeting in the Dardanelles with the
prefect and its mayor this morning and afterwards he will leave
for Imvros.
A Turkish government census of 1927 showed the ethnic Greek
population on Imvros at approximately 6,700, and 2,500 on
Tenedos.
[18] Reservations on proposal for informal meeting of euro
participants
Brussels, 18/11/1997 (ANA - M. Spinthourakis)
National Economy Minister Yiannos Papantoniou yesterday
expressed Athens' reservations regarding a French-German
proposal for an informal consultation process prior to the 15 EU
finance ministers council among countries that will adopt the
euro currency.
He stressed that Greece, along with the other countries did not
envisage to join the euro from the beginning (Britain, Denmark
and Sweden) consider that such a process held an inherent danger
of substituting for the responsibilities of the Ecofin council.
He admitted that "of course, no one can prevent the ministers of
the various member-states from meeting on an informal basis,"
but stressed that "it is unacceptable for such informal meetings
to acquire a formal character and derive this from official
Community documents".
Mr. Papantoniou noted that a way out would be for the
non-participants in euro to take part in such meetings as
observers.
Referring to other matters, Mr. Papantoniou said Greece and
Spain had submitted a written statement-reservation regarding a
claim contained in a Commission report on fiscal rationalization
(SEM 2000 report), which says that the Commission has the right
to impose sanctions and retain from the resources of structural
funds amounts related to violations of FEOGA.
He added that the two countries would consider taking their case
to the European Court if the Commission does not take into
account their reservation.
[19] Athens, Sofia attempt to get energy projects moving
Athens, 18/11/1997 (ANA)
Bulgarian Deputy Premier and Regional Development and Public
Works Minister Evgenii Bakurdjiev arrived in Athens yesterday on
a three-day visit, his first meeting with Development Minister
Vasso Papandreou focusing on ironing out disputes over energy
projects.
On the agenda is a slow-moving scheme to build a pipeline
carrying Russian oil from Burgas to the northern Greek port of
Alexandroupoli, delays in a natural gas project and Bulgarian
electricity exports to Greece.
Mr. Bakurdjiev is responsible for energy, public works,
transport, telecoms, the environment and cross-border
co-operation.
Ms Papandreou said afterwards the two sides aimed to create
conditions of security in supplies, and a reduction in the
effects on the environment.
She stressed that there were "prospects for further developing
bilateral relations, not only in the electrical energy sector,
but also in the natural gas sector".
"We also discussed the prospects of co-operation in the sectors
of renewable energy sources and oil, and we agreed to set up a
joint experts' committee which will follow up all relevant
issues", she added.
Regarding the proposed Burgas-Alexandroupoli oil pipeline, she
stressed it was a particularly interesting plan for both
countries, and there would be a relevant meeting of a joint
committee of experts from Greece, Bulgaria and Russia.
"It is the intention of both governments that the project
proceeds as fast as possible. Naturally, private companies
should also participate in order to undertake part of the cost,
but also to contribute to the good functioning of the pipeline",
she concluded.
Reporting some progress in the oil project in the last six
months, Mr. Bakurdjiev said the exact route the pipeline would
take through Bulgaria would be announced at the meeting in
Athens in December.
But the quantity of crude oil to be carried and Bulgaria's
percentage stake in the project remained stumbling blocks.
"There is a very serious problem, in that the Russian side still
has not guaranteed the required minimum quantity of crude oil to
ensure operation of the pipeline", Mr. Bakurdjiev said.
He called on companies participating in the Caspian consortium
including Chevron, AGIP and Mobil also to commit themselves to
quantity.
Bulgaria also had retained its demand for a 25 per cent stake in
the company operating the pipeline, which other parties involved
in the project say is too high.
"I don't think anyone should propose percentages to the states
(involved in the project). The states should propose the
percentages", he said.
"When the Russian side cannot guarantee percentages, on what
basis is it seeking 50 percent? You cannot ask for 50 percent
for something you cannot ensure in practice," he added.
Bulgaria may distribute part of its stake in operations to major
international companies. Athens might follow suit and sell
percentages to the Latsis and Kopelouzos groups, Mr. Bakurdjiev
said.
Turning to disputes between Bulgaria and Russia in a project to
distribute natural gas to Greece, he said Sofia would pull out
of Topenergy, a joint venture between the two countries, if no
agreement was reached on prices.
He accused Gazprom of charging exorbitant rates for the gas and
trying to double its revenue through deals with Gazexport and
intermediaries in the sale.
Russia had also failed to build two pipelines to carry the gas
to the Greek-Bulgarian border, both of which are included in an
agreement between Russia and Greece.
"Russia, which is currently using Bulgaria's network, has failed
to make the investment as it is obliged to do. The network
Gazprom is using belongs entirely to Bulgargaz, which is 100 per
cent state owned," Mr. Bakurdjiev said. "If the quantity of gas
is inadequate, including to Greece, then Bulgaria will be
footing the bill, which is totally unacceptable", he added.
In addition, Bulgaria had requested payment of transit charges
from Russia to be calculated on the basis of capacity, not
quantity.
"This is yet another dispute with the Russian side", Mr.
Bakurdjiev said.
Gazprom appeared to be seeking payment of the tariffs based on
capacity from Greece, he said.
Finally, Bulgaria will propose renewal of an agreement for
electricity exports to Greece.
[20] ... Foreign policy
Athens, 18/11/1997 (ANA)
Turning to foreign policy, the Bulgarian minister said the
recent Balkan summit in Crete had been a "most significant step
symbolizing the beginning of new relations, a new policy, one of
understanding and contacts, which are greatly needed in the
Balkans and in Europe".
"Following the visit to Greece by President Petar Stoyanov to
Greece last July, specific steps have been taken in
Greek-Bulgarian co-operation and we are at the stage of
preparing the next meeting between the two prime ministers and
presidents in Bulgaria," he said.
He also expressed the belief that there would be no more delays
in the implementation of bilateral accords on the waters of the
Nestos River and the opening of three more border posts.
[21] Greece sees new round of commercial bank rate hikes
Athens, 18/11/1997 (ANA)
Major Greek commercial banks raised deposit and loan rates
yesterday in the wake of hikes on Friday by Alpha Credit Bank
and National Bank of Greece. National Economy and Finance
Minister Yiannos Papantoniou, in an interview with an afternoon
daily yesterday, urged bankers to show restraint.
He said that banks could offset part of the losses inflicted by
a recent monetary crisis through their portfolios, which would
show huge gains for the year.
He urged banks not to transfer the cost to the consumer by
raising interest rates.
Commercial Bank, the second largest state bank, Ergobank, Bank
of Attica and Xiosbank announced rises on deposit and loans of
25 basis points to 1.5 percentage points.
The government and bankers are awaiting a move by mortgage banks
on interest rates. State Mortgage Bank's decision will be of
particular interest as it controls at least 60 percent of the
Greek housing market.
[22] Greek stocks hammered by rate hikes, shed 3.88 pct
Athens, 18/11/1997 (ANA)
Greek equities came under renewed pressure to end sharply lower
yesterday on the Athens Stock Exchange with market sentiment
hurt by a wave of interest rate rises by major commercial banks.
The general index closed 3.88 percent lower at 1,331.04 points,
down 25.81 percent from its all-time high of 1,794.14 points two
months ago. The index however has shown a net gain of 42.59
percent since January.
Traders said the Greek economy was now suffering the impact of
recent international monetary turmoil.
They also cited as potentially negative factors a global trend
by foreign investors to flee emerging markets, and media reports
that the government was planning to implement a capital tax on
stock transactions and a tax on business reserves.
Banks fell 3.65 percent, Insurance eased 3.76 percent, Leasing
plunged 6.23 percent, Investment was 5.13 percent off,
Construction ended 7.57 percent down, Industrials fell 3.71
percent, Miscellaneous dropped 3.71 percent and Holding was 4.63
percent off.
The parallel market index for small cap companies ended 4.80
percent down.
Trading was moderate with turnover at 16.9 billion drachmas.
Broadly, decliners led advancers by 216 to 14 with another 5
issues unchanged.
Heliofin and Macedonian Plastics (common and preferred) scored
the biggest percentage gains at the upper daily volatility limit
of 8.0 percent, while Sfakianakis, Nikas, Singular, Karelias,
Altec and Eteva suffered the heaviest losses at the lower 8.0
percent limit.
National Bank of Greece ended at 25,700 drachmas, Ergobank at
13,990, Alpha Credit Bank at 16,000, Delta Dairy at 3,295, Titan
Cement at 11,400, Intracom at 10,640 and Hellenic
Telecommunications Organization at 4,950.
[23] Greek bourse dumps plan to go public
Athens, 18/11/1997 (ANA)
The Athens Stock Exchange yesterday approved a proposal to
expand its shareholder base through a private placement,
abandoning a plan to hold a public offering and enter the market.
The Greek state, the Athens bourse's owner, will be able to
transfer part of its stake to institutional investors, bypassing
the need to negotiate new shares on the market.
The decision came as a disappointment to the market which
expected that Greece's national economy ministry would seek the
flotation of the stock market's equity capital.
[24] Greece defends cash spent on promoting new power plant
Athens, 18/11/1997 (ANA)
Government spokesman Demetris Reppas said yesterday that major
projects involving large amounts of money should be promoted
accordingly.
He was defending a decision by the Public Power Corporation to
spend 30 million drachmas on a ceremony to launch a new power
plant in Drama, northern Greece.
Mr. Reppas said that the project was one of the biggest in
Europe and the promotion was justified.
He added that the prime minister was particularly interested in
cutting back on public spending but there were funds already
earmarked for the promotion of public works.
[25] Bank of Piraeus bid rejected in Cretabank tender
Athens, 18/11/1997 (ANA)
A bid evaluation committee yesterday rejected a final offer by
Bank of Piraeus for the purchase of Cretabank.
The committee justified its decision on the grounds that the
offer did not ensure payment of 30 billion drachmas as foreseen
in its original bid.
[26] FYROM to announce contractor for hydro-electric unit Thursday
Athens, 18/11/1997 (ANA)
The government of the Former Yugoslav Republic of Macedonia
(FYROM) is expected to announce its decision on Thursday on a
contractor to build a new hydro-electric power station.
The issue of the winner has stirred a dispute between FYROM's
public power corporation, Electrostopanstvo, and a Greek-Russian
joint stock company called East Power Corporation.
The two sides signed an initial agreement on January 1997 but
Skopje power corporation's general director Pante Lazarov
recently said that Hainan, a Chinese company, would be named
contractor.
East Power Corp's director Constantinos Keletsekis said that his
company would seek 5 million US dollars as compensation for
breach of contract.
[27] Greek-Turkish co-operation to prevent Aegean pollution
Athens, 18/11/1997 (ANA)
Participants of the ninth meeting between local government
representatives of eastern Aegean islands and Turkish coastal
cities, held in Kusadasi, have agreed to co-operate to prevent
further pollution in the Aegean.
The Greek delegation's head, the president of the
economic-prefectural committee of Samos, Yiannis Samios, handed
the mayor of Kusadasi a file containing data on the
environmental situation in the Aegean and proposals in dealing
with the problem.
Mr. Samios also proposed that the next meeting of Greek and
Turkish local government representatives take place on Samos to
look into commerce, economy and tourism.
The mayor of Kusadasi proposed that his city became a sister
city of Samos, an issue that will be put to the Samos
Prefectural Committee.
Turkish officials also extended an invitation to two students
from each Greek university to attend a conference on tourism
this December in Turkey.
[28] SACEUR in Ankara for meetings
Istanbul, 18/11/1997 (ANA)
NATO's Supreme Allied Commander in Europe (SACEUR) General
Wesley Clark arrived in Ankara yesterday, according to Anatolian
news agency.
General Clark was received by the Vice-General of the Turkish
Army Staff Cevik Bir. Gen.Clark is expected to have meetings
with the Turkish leadership and leave today.
Meanwhile, Canada's Foreign Minster Lloyd Axworthy yesterday
left Ankara after meeting with his Turkish counterpart Ismail
Cem.
Mr. Axworthy is currently on a tour of the Middle East that has
taken in Egypt, Lebanon, Syria and Israel.
[29] Onassis Foundation trustees ridicule Roussel claims
Athens, 18/11/1997 (ANA)
The Alexander S. Onassis Foundation issued a statement yesterday
strongly rejecting claims by Thierry Roussel, the father of
Onassis heiress Athina Roussel-Onassis, regarding an alleged
attempt to abduct his daughter.
The four members of the board, who are also trustees of Athina's
inheritance along with Mr. Roussel, say that the bizarre
kidnapping plot was a rumor started by Mr. Roussel himself.
The four, Stelios Papadimitriou, Apostolos Zambelas, Pavlos
Ioannidis and Theodoros Gavrilidis, warned Mr. Roussel to not
even pass the Onassis Foundation's threshold, while they
rejected his claims of mismanaging the foundation's funds.
In a joint press release issued yesterday, the four trustees
stated, "...As to the heroic battles waged by Roussel:
"He is indeed fighting heroically by the way of an industry of
criminal complaints, demands, requests, lawsuits etc. with the
view to laying his hands on the fortune of his minor daughter...
It must be noted that out of Roussel's numerous complaints,
demands, lawsuits etc., not even one has been successful for
Roussel and those still outstanding will have the same fate."
The four trustees have sent a memorandum to a Geneva magistrate
investigating the kidnapping charges, declaring their
willingness to assist in the investigation. They added, however,
that Swiss authorities had no real evidence proving the
existence of a n abduction attempt other than what Mr. Roussel
himself has told the press and the magistrate.
"As to Roussel's unfavorable comments, we do not wonder. Taking
into account his professional qualifications, his business
achievements, his stated aspirations, his untiring zeal for work
which, however, aims exclusively at our fatigue, we would wonder
if such comments were favorable for us. Indeed we are his
antipode, namely we are what he is not and will never be... The
fact that he is favored with an audience or a reply is solely
due to his being the father of Athina," the statement read.
End of English language section.
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