Athens News Agency: Daily News Bulletin in English, 97-11-19
From: The Greek Press & Information Office, Ottawa Canada <[email protected]>
ATHENS NEWS AGENCY BULLETIN (No 1344), November 19, 1997
Greek Press & Information Office
Ottawa, Canada
E-Mail Address: [email protected]
CONTENTS
[01] Simitis: Greece insists on 'step-by-step' approach with Turkey
[02] ... Economy
[03] ... Opposition reaction
[04] Gradual merging of EU, WEU presidencies decided at Erfurt
conference
[05] Greek WEU presidency at hand
[06] ... Greece-Turkey
[07] G. Papandreou meeting with Bulgarian minister
[08] Greece-FYROM: Nimetz to deputize for Vance
[09] NATO commander arrives in Athens
[10] Visit to Turkey
[11] Spyridon receives new US ambassador to Athens
[12] Papariga focuses on expatriates' conditions at US press
conference
[13] Simitis welcomes Damanaki candidacy
[14] Karamanlis: Stronger policy vis-a-vis Turkey needed
[15] Tsovolas calls for front against 'neo-liberalism
[16] Strong earthquake shakes Zakynthos, Patra
[17] EIB's Gennimatas on transition of state administration
[18] Conference on combating forged travel, ID documents
[19] Greek stocks jump 4.56 pct on bargain hunting
[20] Parliament to debate bourse crisis this week
[21] Bank of Piraeus buys out Chase Manhattan branches in Greece
[22] Greece, Ukraine begin construction conference
[23] Egyptians launch investment in Greece
[24] Annual conference on Greek economy set for Nov. 26-27
[25] Information technology conference to be held Dec. 4-6
[26] Unions back TVX Gold investment, warn of capital flight
[27] Greek firms in the running for FYROM road projects
[28] Kurds in Patras - meningitis epidemic feared
[01] Simitis: Greece insists on 'step-by-step' approach with Turkey
Athens, 19/11/1997 (ANA)
Prime Minister Costas Simitis yesterday reiterated Greece's
commitment to improved relations with Turkey, based on a
step-by-step approach to bilateral problems.
Addressing a Foreign Press Association (FPA) luncheon, Mr.
Simitis outlined the initial steps which he said needed to be
taken.
Firstly, that Turkey withdraw its claims to the islet of Imia
and that it refer any such claims it might have to the
International Court of Justice in The Hague, in exchange for
which Greece would agree to the release of a European Union
financial protocol.
Secondly, the question of the Aegean continental shelf could
also be referred to The Hague and finally, meetings on various
issues would be scheduled.
He observed that no moves had been made by Turkey in this
direction.
The European Union, he said, was an area of friendship, peace
and co-operation in which one member-state could neither make
territorial claims against another nor question the rules of
international law. The EU's "Agenda 2000", he added, clearly
stated t hat EU member-states recognized the authority of the
International Court of Justice. Mr. Simitis underlined that from
the moment the EU puts this forth as a condition, Turkey should
accept the authority of the Court.
Mr. Simitis repeatedly stressed that Greece was in favor of
Turkey's European orientation on the condition that Turkey
respected European principles and values.
With regard to EU accession negotiations, the prime minister
expressed the view that talks should begin at the same time for
all aspirant countries. If this in fact happened, Mr. Simitis
said he then saw no need for the proposed European Conference.
He said that given the opportunity he would meet with his
Turkish counterpart Mesut Yilmaz.
Mr. Simitis strongly deplored the recent violent demonstrations
against Turkish businessmen in Thessaloniki, accusing the
demonstrators of "damaging narrow-mindedness and pointless
hatred". Turning to the recent US initiative on the Cyprus issue
, Mr. Simitis said Greece welcomed any initiative based on UN
resolutions, underlining that the "key to a Cyprus settlement is
in the hands of Turkey". Any speculation as to a timetable for
resolving the Cyprus issue was premature, he added, saying the k
ey to the issue lay in Turkey's hands.
Finally, with regard to the dispute over the name of the Former
Yugoslav Republic of Macedonia (FYROM), Mr. Simitis said Greece
had informed UN mediator Cyrus Vance that a solution must be
found once and for all to the name issue. He added that he would
not be visiting Skopje until such time as the name issue was
resolved.
Concerning developments in Iraq, Mr. Simitis said Greece would
abide by UN resolutions.
[02] ... Economy
Athens, 19/11/1997 (ANA)
The government will stick to its economic policy and its policy
of a "hard drachma", Mr. Simitis continued, in response to
reporters' questions.
"The stability of the drachma is a major factor in economic
policy and will continue to define our movements," he said.
Referring to the recent monetary crisis, the premier said the
Greek economy was not in crisis and, on the contrary, was
illustrating that it could continue its successful course.
The recent rise in interest rates, he said, was a temporary
phenomenon, although he did not go into details as to when the
government expected rates to return to previous levels. The
budget for 1998 revealed last week, he added, was targeted to
wards convergence with the European Union and bolstering the
domestic economy against interna-tional fluctuations.
"The budget aims at fiscal stabilization at levels which will
help us participate in economic and monetary union," he said.
"Our aim is, despite the cost and opposition, a stable
developing economy," Mr. Simitis said, adding that the effort
for economic justice would be continued and social policies
would be reinforced.
He admitted that the government's economic policy and latest
budget had drawn fire but said that the results would be the
final judge. Mr. Simitis said that the government's program to
partially float on the stock exchange a number of state-run
organizations and enterprises was not geared towards "replacing
a state monopoly with a private monopoly".
"The goal is not for enterprises to be taken over and closed
down by the private sector as in the past but to orient those
enterprises to a private sector that can ensure their operation
and jobs," he said.
[03] ... Opposition reaction
Athens, 19/11/1997 (ANA)
The main opposition New Democracy said in response to the
premier's FPA speech that his appearance verifies that he's "a
hostage to PASOK's party nomenclature, in whose favor he
sacrifices the country's developmental prospects, sentencing it
(Greece) to its current misery."
The speech at the FPA also sparked a reaction on the part of the
Communist Party of Greece (KKE), which said Mr. Simitis' speech
was an attempt to give a face-lift to the government's
anti-popular policy, and "providing to the economic oligarchy
addition al reassurance for the continuation of that policy".
The Political Spring party (Pol. An) in an announcement said the
prime minister was provocatively vague, especially on national
issues.
[04] Gradual merging of EU, WEU presidencies decided at Erfurt
conference
Erfurt, 19/11/1997 (ANA - P. Stangos)
The gradual merging of European Union and West European Union
(WEU) presidencies constitutes the first specific decision taken
at the significant conference of WEU foreign affairs and defense
ministers, which came to a close yesterday.
This development means - beginning in the first half of 1999
with Germany - that the country exercising the EU presidency
will exercise the presidency of the WEU at the same time,
satisfying one of the main pre-conditions for promoting the
relationship between the two organizations.
German Foreign Minister Klaus Kinkel said the measure was a
substantive development which will strengthen the role of the
WEU.
Greece will take the WEU presidency at the end of the year after
Germany, while Britain will be holding the presidency of the EU,
and will hold both presidencies at the same time in the first
half of 2003.
The foreign ministers of the 18 member-states, associate members
and observers also agreed to the extension of the WEU's mission
in Albania for six months (it concerns the training of the
Albanian police).
NATO Secretary General Javier Solana, who attended the
conference, strongly supported the WEU's strengthening as a
"military arm" of the EU.
WEU Secretary General Jose Cutilheiro issued a statement saying
"the credibility of the WEU is being judged by its ability to
conduct military operations."
The WEU's 10 regular members are Belgium, Britain, France,
Germany, Greece, Spain, Italy, Luxembourg, the Netherlands and
Portugal, which at the same time are members of the EU and NATO.
Three countries participated as associate members of the WEU:
Iceland, Norway and Turkey, which are NATO but not EU members.
Five more countries participated with observer status: Denmark,
Finland, Ireland, Austria and Sweden. All are EU members, but
only Denmark is a member of NATO, while the others are "neutral."
The "difficult" point in this spectrum of differentiated
relations on organic participation in the functions and the
taking of decisions by the WEU is focused primarily on two
associate members, Turkey and Norway, and one observer, Denmark,
which being NATO members have the right to block decisions there
concerning the use of military, material and technical
infrastructure of NATO by the WEU. Consequently, they are
seeking a more substantive participation in the WEU than what is
anticipated by associate member or observer status.
The compromise formula found in spring during the French
presidency anticipates "full information" and "compulsory
consultation" of the WEU with the other European non-member
allies on all issues concerning the carrying out of missions
entailing the use of NATO infrastructure.
[05] Greek WEU presidency at hand
Athens, 19/11/1997 (ANA)
Meanwhile, Athens has effectively assumed the WEU presidency
from Germany, following the end of the foreign affairs and
defense ministers' conference here.
Greek ministers Theodoros Pangalos and Akis Tsohatzopoulos
presented their counterparts and reporters with the program and
the aims of the Greek presidency, which formally begins on Jan.
1, 1998. They also announced that the next session of the WEU
will be held on the island of Rhodes on May 11 and 12, 1998.
The aims of the Greek presidency are a continuation of its
German predecessor, with the major pending issues concerning
clarification of the relations between EU and WEU, between WEU
and NATO as well as the practical "operational strengthening" of
WEU at the military level.
Greece is expected to add its own "shading" on the picture, with
the promotion of WEU relations with Cyprus, and co-operation
with Russia and Ukraine.
The "Greek peculiarity", in the sense of the special sensitivity
for the Balkans, was recorded during the session by Foreign
Minister Pangalos, with reference to Albania, whose police
forces are being trained by WEU, while the organization decided
to extend its mission in the country by six months.
[06] ... Greece-Turkey
Athens, 19/11/1997 (ANA)
Speaking to reporters after the session and in response to
questions, Mr. Pangalos justified his use of the term "criminal"
in describing Turkish attitudes towards Greece earlier in the
year by saying that "what Turkey wants is the re-deliniation of
borders from scratch, and this is illegal, it is outside any
logic of international law, therefore it is a crime..."
He also said that the statement had been the subject of
exploitation by Ankara, precisely because "some do not want to
admit the truth, that what they seek is the re-deliniation of
borders..."
Regarding the issue of confidence-building measures between the
two countries, NATO Secretary General Javier Solana replied
negatively to a question on whether there had been a Greek
attempt to launch a new initiative.
On his part, Defense Minister Tsohatzopoulos stated that Greece
proposed a three-month moratorium for military exercises in the
Aegean last summer, but Turkey had rejected it.
Mr. Pangalos added that "this proposal remains on the table..."
[07] G. Papandreou meeting with Bulgarian minister
Athens, 19/11/1997 (ANA)
Alternate Foreign Minister George Papandreou and Bulgaria's
Deputy Prime Minister Evgenii Bakurdjiev discussed issues
concerning cross-border co-operation and relations between the
European Union and Bulgaria during a meeting yesterday.
Mr. Papandreou and Mr. Bakurdjiev reconfirmed that relations
between the two countries are constantly improving and agreed
that contacts between Greece and Bulgaria must continue along
the same lines.
In another development, Mr. Papandreou received US Sen. Gordon
Smith (R-Oregon), the chairman of the Senate's European Affairs
Subcommittee, briefing him on Greek positions on the Cyprus
issue, Bosnia and NATO enlargement.
[08] Greece-FYROM: Nimetz to deputize for Vance
United Nations, 19/11/1997 (ANA)
Matthew Nimetz has been appointed by UN chief Kofi Annan as
deputy to Cyrus Vance, the UN secretary-general's personal envoy
in negotiations between Greece and the Former Yugoslav Republic
of Macedonia (FYROM).
The appointment was made at Mr. Vance's own request and
following the approval of Greece and FYROM.
Mr. Nimetz has served as US envoy and assisted Mr. Vance's
efforts from March 1994 to September 1995, when the interim
accord between the two countries was signed.
Mr. Nimetz will be chairing the continuing talks between Greece
and the FYROM. The last meeting chaired by Mr. Vance took place
last month.
[09] NATO commander arrives in Athens
Athens, 19/11/1997 (ANA)
The Supreme Allied Commander Europe (SACEUR), US Gen. Wesley
Clark, arrived in Athens yesterday for a courtesy call, the
national defense general staff announced yesterday.
Today, Gen. Clark is to meet with President of the Republic
Kostis Stephanopoulos, Foreign Minister Theodoros Pangalos and
National Defense Minister Akis Tsohatzopoulos, as well as with
military and political leaders at the defense and foreign
ministries.
[10] Visit to Turkey
Ankara, 19/11/1997 (ANA - A. Ambatzis)
Gen. Clark arrived in Athens after officially visiting Turkey,
at the invitation of the Turkish military chief Gen. Ismail
Hakki Karadayi.
The top NATO commander had meetings with Gen. Karadayi, Turkish
President Suleyman Demirel and Prime Minister Mesut Yillmaz. He
left Ankara yesterday for a US airbase in Incirlik, Turkey.
Gen. Clark said that discussions with the Turkish government
focused on the alliance's expansion.
[11] Spyridon receives new US ambassador to Athens
New York, 19/11/1997 (ANA - M. Georgiadou)
The new US ambassador to Greece, Richard Burns, had an hour-long
meeting here yesterday with Archbishop of America Spyridon that
was also attended by former US ambassador to Athens Michael
Sotirhos.
Mr. Burns, the former US State Department spokesman, takes up
office in Athens in nine days.
After the meeting, Archbishop Spyridon said he was pleased at
meeting the new US ambassador, adding that their discussion
centered on "Greece's policy, issues relating to the Cyprus
problem... and the role of the Ecumenical Patriarchate of
Constantinople and the Halki School of Theology".
The US official thanked the Orthodox leader, saying "it is the
first time we meet, and it is my pleasure to hear some of his
views and advise. I regard him as a very important personality
since he represents the leadership of the Greek-American
community, which is the closest tie in relations between the US
and Greece."
Replying to a question as to what would the primary targets of
his mission's be, Mr. Burns said since he had not yet presented
his credentials to the Greek state, "I can't talk of politics
now, it wouldn't be right before meeting Greece's prime minister
."
He further said he would spend the next two weeks and his first
months in Greece mainly listening, in order to become acquainted
with his new duties.
[12] Papariga focuses on expatriates' conditions at US press
conference
New York, 19/11/1997 (ANA - M. Georgiadou)
Communist Party of Greece (KKE) Secretary General Aleka Papariga
addressed Greek and Greek-American reporters at a press
conference here yesterday. She stressed that what is most
important are the conditions of the Greek expatriates' work and
life, who must "struggle together with American working people"
for a solution to their problems, which "are not being resolved
by Greece."
Ms Papariga is currently in the US and will also visit Canada at
the invitation of the communist parties of these countries and
societies of KKE's friends in North America.
She said a special issue for immigrants is primarily the
educational issue, adding that what is necessary is a "brave
state intervention" by Greece with modern books.
Referring to the creation of the Council of Hellenes Abroad
(SAE), Ms Papariga said KKE believes that the representativeness
of the body was not achieved in a body which could constitute a
pressure and mobilization lever for expatriates if the logic did
not prevail of selecting businessmen for a leading role and
moves of the type of public relations towards their US
counterparts.
On the question of Greek-Turkish relations, Ms Papariga said
they were being complicated due to the strategy of the US in the
Aegean, whose partitioning is already being promoted. She said
Turkey's leadership is questioning Greek borders without being
condemned politically by the US, NATO and the European Union,
and in this way the impression is given that the Turks have a
"backup."
She went on to say that the Cyprus issue is an international
problem. However, a solution is currently being promoted for it,
which bears no relation to UN resolutions but makes partition
official.
"We are very concerned because the new structure of NATO turns
Greece simultaneously into a victimizer (in possible future
multinational interventions in Algeria and Libya) and a victim
in relation to its national issues," she said.
Ms Papariga said the US cannot be considered reliable as a
mediator because it behaves like a "ruler" and demands
compliance with its strategy.
[13] Simitis welcomes Damanaki candidacy
Athens, 19/11/1997 (ANA)
Prime Minister Costas Simitis yesterday welcomed former
Coalition of the Left leader and current deputy Maria Damanaki's
announcement earlier this week that she'll run for mayor of
Athens next year.
The premier stated his intention to discuss the matter with her
personally.
Speaking during a foreign press association luncheon, the prime
minister, however, said the decision whether PASOK would support
her candidacy would emerge through appropriate procedures within
the ruling party.
Ms Damaki is expected to face current Athens Mayor Demetris
Avramopoulos, a former diplomat.
Meanwhile, Mr. Simitis made the first ever indirect criticism of
the current mayor, saying Ms Damanaki's policy would be related
to an effort for significantly improving the life of citizens,
and would not be centered on improving the appearance of the
city.
He said her candidacy would be independent of parties, and was
not in any way related to a much-speculated center-left scheme
of co-operation, as this was a political term and concerned
ideological discussions and analyses.
Questioned on whether he expected the ruling party to reap a
certain degree of disaffection at the municipal poll, Mr.
Simitis said that PASOK and the other forces that had promoted
decentralization expected successful results.
[14] Karamanlis: Stronger policy vis-a-vis Turkey needed
Athens, 19/11/1997 (ANA)
The need for Greece to di splay decisiveness and exercise a
strong policy was stressed by main opposition New Democracy
leader Costas Karamanlis, who delivered a speech at the Pantion
University's International Relations Institute yesterday.
The main opposition leader, addressing the issue of "Greek
Foreign Policy in the New International Conditions," observed
that an impartial or even a Turkish analyst would surely
interpret the Greek side's position and messages as "a retreat
on all issues, with a feeling of inequality in the two
countries' relations".
He said he was opposed to the doctrine "we have no claims",
clarifying that "we do not have claims on territorial changes,
but we have claims emanating from international law and
international treaties".
Further, Mr. Karamanlis admitted that making use of the European
Union's right of veto show that the country's foreign policy was
weak and ineffective.
Replying to a relevant question, he said the government's policy
was erroneously associated with a veto on Turkey's funding from
the EU with Ankara's recourse to international arbitration in
relation to the Imia issue.
He added that "securing Cyprus' unobstructed admission into the
EU was a more attractive alternative rather than using the veto
in trying to persuade Turkey take recourse to an International
Court".
Finally, in what seemed to be quite a different position than
that held by former ND leader Miltiadis Evert, Mr. Karamanlis
said that Turkey was not a country that merely "exported" its
domestic troubles from time to time.
On the contrary, he argued, "we're dealing with a player in the
international system whose attention is permanently focused on
attaining anything that only serves its own interests."
[15] Tsovolas calls for front against 'neo-liberalism
Athens, 19/11/1997 (ANA)
Democratic Social Movement (DHKKI) leader Demetris Tsovolas has
appealed to left-wing parties and what he called the country's
"progressive forces" to form an anti-conservative front to
oppose what he termed as neo-liberalism as well as the
government's "anti-populist policy."
In this context, Mr. Tsovolas addressed a relevant letter
yesterday to Communist Party of Greece (KKE) Secretary General
Aleka Papariga, Coalition of the Left and Progress leader Nikos
Constantopoulos and Yiannis Banias of the New Left Trend party.
Speaking at a press conference, Mr. Tsovolas said the front he
is proposing (following a decision taken by the party's
political secretariat on Monday) has a place for all social,
ecological and political organizations, as well as independent
citizens w ho oppose the "neo-liberal and anti-populist policy
being implemented in the framework of the inhuman and class
policy of Maastricht."
Consequently, the main opposition New Democracy party, the
Political Spring party and the ruling PASOK party are excluded,
although "there is space for dissidents in PASOK in the local
self-administration sector and prospects for co-operation with
corresponding groupings."
The front proposed by Mr. Tsovolas will respect the
organizational autonomy of individual parties and movements
which, however, must "put aside what separates them from the
past and probably at present to enable them to find the many
common points on which an alternative development proposal will
be created which will rally the people and send, what he called,
a clear message to Europe.
[16] Strong earthquake shakes Zakynthos, Patra
Athens, 19/11/1997 (ANA)
A strong earthquake measuring 6.6 on the Richter scale, followed
by dozens of aftershocks up to 6.0 on the Richter scale shook
Patra and the surrounding region at 3:09 p.m. yesterday
afternoon.
The epicenter of both quakes was situated in the sea region
south of Zakynthos, 290 km south-southwest of Athens, according
to the Athens Geodynamic Institute. The quake was felt through
most of Greece and as far as Crete. The quake caused panic among
residents of Patra and the nearby Ionian island of Zakynthos.
Later, press sources said minor damage had been caused to
buildings in various parts of western Peloponnese and on
Zakynthos. They reported that life in Patra was returning to
normal after an initial panic. Some damage was also reported in
Messinia prefecture, with buildings in the communities of
Gargalianoi, Kyparissia and Meligala showing cracks.
Athens Geodynamic Institute director Georgios Stavrakakis said
there was a 95 per cent probability that the initial jolt was
the main quake, adding that the earthquake activity would not
abate soon, possibly lasting up to six months. He said it was
encouraging that all activity came from the same area and
advised people to remain calm.
Thessaloniki University Geophysics Laboratory Professor Vassilis
Papazahos noted that the area was one of the most seismically
active in Greece. A major earthquake in 1953 destroyed most
buildings on Zakynthos and the nearby island of Cephalonia.
He said that based on long-term projections, he and his
colleagues had predicted there was a 76 per cent chance of
another strong quake in the region within the next 10 years.
Meanwhile, schools in both Zakynthos and Ileia prefectures will
be closed today as a precaution.
[17] EIB's Gennimatas on transition of state administration
Athens, 19/11/1997 (ANA)
European Investment Bank (EIBB) Vice-President Panayiotis
Gennimatas stressed yesterday that the transition to
administrative mechanisms of the free market requires a
deepening of privatization, without this meaning that public
services should be underestimated.
Speaking at a conference on public administration held under the
auspices of the United Nations Economic and Social Affairs
Section in Thessaloniki, Mr. Gennimatas said the role of the
state was important as guarantor of the market economy, which,
as he said, "is inconceivable without guarantees of a public
character".
"The attack against the state and the effort to shrink its
dimensions and limit state intervention in favor of the private
sector is not directed against the state generally, but mainly
against the national state and the narrower national perception
of its functioning," he said.
Regarding the role of the state, Mr. Gennimatas noted that its
needs dictate a revised form of public intervention, are related
to the support for and guiding of the developmental process in
the less developed countries, and in the management of
macro-economic stability, mainly in the developed countries and
especially in Europe, due to Economic and Monetary Union.
[18] Conference on combating forged travel, ID documents
Athens, 19/11/1997 (ANA)
The public order ministry is organizing a conference entitled
"Diogenis" concerning forged travel and identity documents. The
conference began yesterday and will last until Thursday. It is
jointly funded by the European Commission within the framework
of the European Union's common action program "Sherlock."
Fifty Greek policemen serving with relevant passport control
services are participating, as well as 10 officers from the
police forces of Bulgaria, Cyprus, the Netherlands and Spain.
The purpose of the conference is development of co-operation
between EU member-states and associated countries.
[19] Greek stocks jump 4.56 pct on bargain hunting
Athens, 19/11/1997 (ANA)
Greek equities rebounded spectacularly on heavy bargain-hunting
and speculative buying on the Athens Stock Exchange yesterday,
reversing the previous session's sharp drop in prices.
The general index closed 4.56 percent higher at 1,391.79 points,
and the FTSE/ASE index rose 4.48 percent at 809.13.
Traders said that professionals returned to the market attracted
by the very low levels of prices and encouraged after the
Capital Market Committee dismissed rumors of a new capital tax
on share transactions.
Analysts expected the market to stabilize around the 1,400 level
after finding strong support at the 1,300 level.
Sector indices gained substantial ground. Banks rose 4.92
percent, Insurance was 2.64 percent higher, Leasing increased
3.57 percent, Investment rose 3.84 percent, Construction jumped
4.14 percent, Industrials soared 4.31 percent, Miscellaneous was
5.23 percent higher and Holding rose 5.33 percent.
Trading was moderate with turnover at 18 billion drachmas.
Broadly, advancers led decliners by 187 to 37 with another 10
issues unchanged.
Alcatel, Sarandopoulos, Pavlides, Heliofin and Ideal scored the
biggest percentage gains, while Bank of Athens, Athinea, Radio
Athina and Barba Stathis suffered the heaviest losses.
National Bank of Greece ended at 26,430 drachmas, Ergobank at
14,900, Alpha Credit Bank at 16,735, Delta Dairy at 3,300, Titan
Cement at 11,600, Intracom at 11,485 and Hellenic
Telecommunications Organization at 5,160.
[20] Parliament to debate bourse crisis this week
Athens, 19/11/1997 (ANA)
Greece's parliament will debate a continuing stock market crisis
at a special session by the end of the week.
Parliament's permanent committee on institutions and
transparency has called Athens Stock Exchange chairman Manolis
Xanthakis to testify on the stock market's performance during
the crisis.
Sources said that Mr. Xanthakis will propose measures designed
to tackle similar situations in the future.
[21] Bank of Piraeus buys out Chase Manhattan branches in Greece
Athens, 19/11/1997 (ANA)
Bank of Piraeus yesterday signed a deal with Chase Manhattan to
take over the US bank's two branches in Greece for an
undisclosed figure.
The deal was submitted to Greek monetary authorities for
approval.
Under the terms of the deal, Chase's staff and banking
installations will be placed under Bank of Piraeus's control,
and the US bank will retain its office in Greece to focus on
cross-border financial activities.
Homi Mullan, Chase Manhattan's regional manager for central
Europe, Middle East and Africa, said that the deal would place
the bank in a better position to concentrate on personal banking
and maritime credit.
Chase Manhattan operates two branches in Greece, one in Athens
and another in Piraeus.
Bank of Piraeus is a medium-sized commercial bank privatized in
1991. It was founded 80 years ago.
Its shareholders' equity totals 40 billion drachmas, and its
capitalization on the Athens Stock Exchange is 65 billion
drachmas.
The Greek bank operates 132 branches in Athens.
[22] Greece, Ukraine begin construction conference
Athens, 19/11/1997 (ANA)
Greek and Ukrainian authorities yesterday began a two-day
conference in Athens on construction and engineering in Ukraine.
National economy ministry secretary general Apostolos Fotiadis
told delegates that Ukraine offered Greek contractors growth
prospects, saying that the government would support any new
agreements.
Hellenic Export Promotion Organization's chairman Yiannis Tzen
urged Greek businesses to create joint ventures with Ukrainian
firms in construction, commerce and industry.
Ukraine government officials are attending the conference.
[23] Egyptians launch investment in Greece
Athens, 19/11/1997 (ANA)
The first investment by an Egyptian group in Greece will begin
operating within the month, it was announced yesterday.
Egyptian Development Investment Company (Edic) has bought a 20
percent stake in a frozen potato unit in Thrace northern Greece
worth 10 million US dollars, owned by the Kamalakis company.
Nahim Berzi, chairman of Edic, is a major industrialist.
[24] Annual conference on Greek economy set for Nov. 26-27
Athens, 19/11/1997 (ANA)
The Hellenic-American Chamber and Federation of Greek Industries
(SEB) will hold a two-day conference on Greece's economy
starting on November 26.
The annual event will include speeches by Prime Minister Costas
Simitis, National Economy Minister Yiannos Papantoniou, main
opposition leader Costas Karamanlis and Public Administration
Minister Alekos Papadopoulos.
Also scheduled to speak are other ministers, bank governors,
industrialists and deputies.
Mr. Papantoniou is expected to outline the prospects for the
economy ahead of European economic and monetary union.
[25] Information technology conference to be held Dec. 4-6
Athens, 19/11/1997 (ANA)
A national conference on information technology and
communications covering new applications in Greece and abroad
will be held in Athens on December 4-6.
The conference, organized by the Greek Computer Scientists and
Informatics Association, will be preceded by the Computer Show,
an industry trade fair, on November 21-24.
[26] Unions back TVX Gold investment, warn of capital flight
Athens, 19/11/1997 (ANA)
Greek trade unions yesterday again publicly backed a gold mining
and production investment in the north by Canada's TVX Gold that
has been severely delayed by residents' protests, jeopardizing
the project.
Christos Polyzogopoulos, president of the General Confederation
of Workers of Greece, told a news conference that if TVX called
off the project the move would damage business confidence,
deterring other foreign investors.
The project also would help to ease unemployment in Halkidiki,
which has a roughly 25 percent jobless rate, Mr. Polyzogopoulos
said.
The investment is supported by trade unions in the area and
local government authorities.
"People are convinced that apart from the increase in jobs, the
unit will clean up the area since it will make use of tons of
iron pyrites left on the ground after the previous owner went
bankrupt," Halkidiki Labor Center president, Angelos Pratzas,
said.
The plant currently employs 836 workers, which will jump to more
than 1,500 if the project goes ahead. Already 3,500 applicants
had sought work at the unit, including residents of villages
that oppose the scheme, Mr. Pratzas said.
"If the investors leave, it will be a painful blow both to
workers and the whole area."
Unions would no longer tolerate protests from around 1,200
residents centered on Olympiada, the site originally scheduled
for the production plant, Mr. Pratzas said.
Local officials have attributed the protesters' motives to
vested land interests, some involving tourism. President of the
local miners union George Glyniadakis warned that workers would
refuse to tolerate the use of violence.
In the past protesters have blocked access roads to the plant in
order to intercept supplies, threatened staff, and trespassed,
according to company officials.
[27] Greek firms in the running for FYROM road projects
Skopje, 19/11/1997 (ANA)
Some 23 companies, including Greek construction firms, have
submitted letters of interest for concessions for the
construction of three road projects, according to the Former
Yugoslav Republic of Macedonia's news agency MAKFAX.
Greek firms have shown overwhelming interest in the project to
construct a 92.6km road linking Veles, Prileps and Bitola to the
Greek border with FYROM.
Sixty percent of the companies that submitted a letter of
interest are Greek companies, according to Minister of Traffic
and Communications Abdulmenaf Bexheti.
The other two projects are the 35.7 km Skopje-Tetovo road and a
75.5 km road from Stobi to Gevgelija.
According to an announcement, US Bechtel, an American-Australian
consortium, companies from Turkey, Switzerland, Germany, Italy
and Japan, and Greece, as well as a domestic consortium Granit -
Mavrovo are interested in the construction of these roads.
The value of the three projects is estimated at 393 million
dollars, or, specifically: Skopje - Tetovo 66.9, Stobi -
Gevgelija 196.2, and Veles - Greek border 130 million dollars.
A decision on the concessions is expected by December 15.
[28] Kurds in Patras - meningitis epidemic feared
Athens, 19/11/1997 (ANA)
Fears of a meningitis epidemic among 300-400 Kurdish refugees
living in abandoned railway carriages in Patra have arisen after
a 25-year-old man diagnosed with the disease left Patras' Aghios
Andreas Hospital on 15 November, the day after being admitted.
The man, who gave his name as Ae Ali, son of Mavin, has
disappeared and it is feared he has not realized the gravity of
his condition.
Living standards at the makeshift camp are extremely poor. There
have been cases of scabies that have been treated in hospital.
Local authorities have repeatedly called for the removal of the
refugees from the railway tracks to a place with proper sanitary
conditions, however there has as yet been no response from
authorities in Athens.
Meanwhile the Kurds are not willing to move far from the area
due to its proximity to the port, where they hope to stow away
on ships to Europe to join relatives.
End of English language section.
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