Athens News Agency: Daily News Bulletin in English, 97-11-21
From: The Greek Press & Information Office, Ottawa Canada <[email protected]>
ATHENS NEWS AGENCY BULLETIN (No 1346), November 21, 1997
Greek Press & Information Office
Ottawa, Canada
E-Mail Address: [email protected]
CONTENTS
[01] EU leaders' summit on employment commences
[02] Karamanlis says recent monetary union reveals Gov't timidness
[03] New fair POLIS opens in Thessaloniki
[04] Simitis cites socialist leaders' satisfaction at EU presidency
text
[05] Papandreou, Protopapas
[06] Premier meets with Luxembourg's Juncker
[07] Greece favors Turkey's European orientation
[08] Papoutsis: Coordinated action needed on unemployment 'time-bomb'
[09] Gov't asks for support in implementing 'Kapodistrias' plan
[10] Greece launches stinging attack at UN on Ankara's human rights
record
[11] Gov't comments on new NATO structure
[12] Papariga continues tour with arrival in Canada
[13] Coalition, government in war of words over OSE appointment
[14] Constantopoulos: Support for Damanaki mayoral bid
[15] Onassis Foundation funds study on Ioannina lake
[16] Proposal to create technology park in Thrace
[17] Soumakis stresses importance of Greek flag for merchant shipping
[18] Athens to host meeting on Bourgas-Alexandroupolis oil pipeline
[19] Meeting focuses on wider inter-bourse co-operation in Balkans
[20] Greek stocks perkier on industrial buying spree
[21] Athens Airport SA wants rail link to new airport
[22] State auditors find illegal payments in public finances
[23] Foreign diplomats to visit northern Greece
[24] Greek ministry to spend Dr 3.5 bln on worker safety
[25] Six insurance companies have licenses suspended
[26] Legal reforms
[27] Intracom sees higher turnover, plans share cap hike
[01] EU leaders' summit on employment commences
Luxembourg, 21/11/1997 (ANA - M. Spinthourakis)
The European Union's extraordinary summit started here last
night with the participation of Prime Minister Costas Simitis,
while some 20,000 demonstrators called for immediate measures to
combat unemployment.
A dinner was continuing at press time, while Mr. Simitis told
reporters late last night that EU expansion and EU-Turkish
relations were discussed during the closed-door affair.
During today's talks, the 15 leaders will attempt to locate the
points where the EU can contribute effectively to efforts to
decrease unemployment, given that the EU budget as well as
national budgets leave little ground to find the necessary funds
to create the required conditions for unemployment to be
decreased.
Earlier, EU socialist leaders voiced their satisfaction with the
text the EU presidency will present at the summit.
EU leaders set out in June to send a signal to the bloc's
citizens that it wanted to turn fair words into action to try
and curb the blight and get millions back to work.
The European Commission, the Union's executive, has proposed
leaders adopt 19 guidelines, ranging from lower taxes on labor
to foster the creation of a pan-European secondary capital
market and to support equal opportunities in the workplace.
Generally speaking, EU leaders are expected to adopt certain
guidelines to decrease unemployment which will not be binding
and will not burden the budget of each country with additional
costs.
The main targets of these guidelines will be decreasing
unemployment among young people and increased training
possibilities in specialties having increased demand in the
labor market of all the unemployed.
Moreover, the European Investment Bank (EIB) is expected,
implementing a relevant order by the Amsterdam summit, to
present a plan of action on strengthening investments in
primarily three sectors which were not included in the bank's
main priorities to date.
The sectors are restructuring urban center, providing loans for
infrastructure works and supporting innovative plans for small
and medium-sized enterprises.
The European Investments Bank is also expected to agree to
additional measures to support inter-European infrastructure
networks in the transport, energy and telecommunications
sectors.
[02] Karamanlis says recent monetary union reveals Gov't timidness
Athens, 21/11/1997 (ANA)
Main opposition New Democracy party leader Costas Karamanlis
yesterday said the recent monetary crisis revealed the
weaknesses of the Greek economy, while he accused the government
of lacking the will to proceed with structural reforms.
Speaking to reporters after meeting with Bank of Greece Governor
Lucas Papademos, Mr. Karamanlis said: "The monetary crisis
revealed the true nakedness of the Greek economy inspite of the
beautifying the government is attempting".
The main opposition leader said that because of the crisis "it
became apparent that the Greek economy is very weak."
He added that this was due to "a lack of will and ability on the
part of the government to forge forward with the necessary
structural changes".
According to Mr. Karamanlis, Greece is moving further away from
Economic Monetary Union (EMU) targets.
The combination of the crisis and the problems of the economy
"burden directly every Greek family and the average Greek," he
concluded.
[03] New fair POLIS opens in Thessaloniki
Athens, 21/11/1997 (ANA)
The first exhibition by local government agencies and state
suppliers "POLIS" opened in Thessaloniki yesterday, organized by
the state trade fair organization HELEXPO and the Greek Local
Government Association (EETAA).
It is aimed at improving co-operation between these agencies and
suppliers of equipment and services in sectors such as waste
management, information technology, road safety, parking and
recreation.
The exhibition was opened by Minister for Macedonia and Thrace
Philippos Petsalnikos, who welcomed participants from 14
different countries. Also present were EETAA president, Athens
Mayor Demetris Avramopoulos, and Environment, Public Works and
Town Planning Under-secretary Lambros Papadimas.
The exhibition is to stay open until November 23.
[04] Simitis cites socialist leaders' satisfaction at EU presidency
text
Luxembourg, 21/11/1997 (ANA - M. Spinthourakis)
Prime Minister Costas Simitis attended a meeting of European
socialist leaders yesterday, saying afterwards that he and his
counterparts agreed that a text the EU presidency will present
at a summit today is "on the right path".
"It expresses the social democrat policy and the desire for
guidelines to exist in the EU for the restriction of
unemployment. We also ascertained that maybe more might be
required. However, it is right for us to accumulate experiences,
utilize means we have and at the end of the year we will be able
to propose new measures which will lead to the greater
restriction of unemployment," he said.
Mr. Simitis added that it is a common conviction among
socialists that the EU has now entered a policy which can
produce results. He further expressed the view that in the
framework of the "15" a coincidence of views exists in relation
to the directions that efforts to decrease unemployment must
have.
[05] Papandreou, Protopapas
Athens, 21/11/1997 (ANA)
Speaking to reporters at a press conference in Luxembourg last
night, Alternate Foreign Minister George Papandreou and Labor
Under-secretary Christos Protopapas referred to issues discussed
by socialist leaders yesterday and to the content of talks the 15
EU heads of government and state will be having today.
Mr. Papandreou said that the first step in the process of
tackling the problem of unemployment is expected to be taken at
today's summit. He said the socialist leaders agreed to a
non-paper placing emphasis on handling the problems of
unemployed young people and the long-term unemployed.
He said it was also agreed that small and medium-sized
enterprises must be supported in particular and the
peculiarities of each country must be taken into consideration.
On his part, Mr. Protopapas said that special mention will be
made in the text to be examined by the leaders today to control
and assessment processes for employment policies which
member-states will apply from now on.
He said they must correspond to the directions which the summit
will adopt today. Mr. Protopapas stressed that the text to be
endorsed today will focus on the following four points: the
widening of the possibility of employment primarily for young
people; creation of business co-operation through social
dialogue; strengthening of commerce and the provision of equal
opportunities concerning the finding of work.
He said that every member-state will undertake to incorporate
these directions in its employment policy.
[06] Premier meets with Luxembourg's Juncker
Luxembourg, 21/11/1997 (ANA - M. Spinthourakis)
Prime Minister Costas Simitis met yesterday with Luxembourg
Prime Minister Jean-Claude Juncker, the current president of the
European Council.
The Greek premier is in Luxembourg to attend a European Union
summit on employment.
In a brief statement to the press, Mr. Simitis said the meeting
centered on summit issues as well as problems related to EU
enlargement, EU-Turkish relations as well as Greek-Turkish
relations.
[07] Greece favors Turkey's European orientation
Luxembourg, 21/11/1997 (ANA)
Greece is in favor of Turkey's European orientation, but certain
issues must be resolved for objections to be lifted, Alternate
Foreign Minister George Papandreou told the Turkish television
station NTV yesterday.
"As you know, we don't believe in the necessity of a European
conference. A decision has not been made in the European Union
whether there will be a conference or not. Greece is in favor of
Turkey's European orientation, and I would say, more than other
EU member-states. But there are specific issues which we would
like to see resolved. These are the only ones that impede good
relations between our two countries," he said.
"If Turkey wishes to help by making specific steps to promote
solutions in the problems it has created, such as the Cyprus
issue, then we shall also be able to help," he added.
[08] Papoutsis: Coordinated action needed on unemployment 'time-bomb'
Milan, 21/11/1997 (ANA - M. Psilos)
Greece's European Commissioner for Energy, Tourism and Small and
Medium-Sized Enterprises Christos Papoutsis said yesterday that
unemployment was a time-bomb threatening European society and
undermining the credibility of the European Union.
Speaking at the 3rd European Conference on Small and
Medium-Sized Enterprises, Mr. Papoutsis said the key to creating
new jobs lay in tourism and small and medium-sized businesses as
these were more flexible and amenable to different approaches.
A more favorable environment could be created in the sector by
means of an improved legislative framework and improved public
administration, easier access to banks, more favorable terms for
funding, and financial assistance for the first three years of
operation.
"All of the above can only be achieved through coordination
between member states and by giving the European Commission the
means to act as coordinator," he said.
[09] Gov't asks for support in implementing 'Kapodistrias' plan
Athens, 21/11/1997 (ANA)
Interior, Public Administration and Decentralization Minister
Alekos Papadopoulos asked the mayors and community presidents to
work for the success of the government's "Kapodistrias" plan for
the mandatory of merger of local government entities around the
nation.
Mr. Papadopoulos said "the reform, which we'll implement for a
new type of state structure, is a political imperative, a social
demand, a national must..."
He also said that with a collective effort, the second and most
important phase of Kapodistrias will begin.
Mr. Papadopoulos said all ministerial decrees pertaining to plan
will be issued during the first six months of 1998 in order for
the law to take effect by Jan. 1, 1999.
[10] Greece launches stinging attack at UN on Ankara's human rights
record
New York, 21/11/1997 (ANA - M. Georgiadou)
Greece yesterday accused Turkey of systematically pursuing the
permanent division of Cyprus through ethnic cleansing of the
northern third of the island republic it has been occupying for
23 years, encouraged by the impunity it has enjoyed while
defying UN resolutions calling for its withdrawal and
improvement of its human rights record.
Ambassador Dionysios Kodellas, Greece's representative to the UN
Third Committee, warned that further tolerance of Ankara's human
rights violations would not only increase Turkey's contempt of
international law and principles, but would also encourage
potential human rights violators elsewhere in the world.
Addressing the 52nd General Assembly of the Third Committee on
Human Rights Issues, Mr. Kodellas said that in pursuing its
ultimate goal of Cyprus' partition, Ankara was executing a
"well-planned policy of colonization of the occupied sector of
Cyprus, aimed at altering the island republic's demography
through killings, forced displacement of persons, separation of
families and the settlement of thousands of mainland Turks
illegally brought to Cyprus".
The situation in the occupied area, which was a "clear case of
flagrant violation of the human rights and fundamental freedoms
of the Greek Cypriot population" was "particularly alarming", he
said.
Mr. Kodellas said that every year for the past 23 years the
Committee "is confronted with the same phenomenon, which remains
a cause for great concern to all international organizations,
and in particular, the United Nations. Namely, Turkey's
contemptuous attitude towards the repeated calls of the
international community urging Ankara to align its international
and domestic behavior to what the UN member states consider the
bare minima of behavior in the field of human rights and to
comply with its commitments and obligations under international
law."
Particularly in the case of Cyprus, he noted that "numerous UN
Security Council resolutions have been provocatively defied by
Turkey, which is encouraged by the fact that it has so far
managed to remain unpunished."
Mr. Kodellas pointed out that Ankara's policy on Cyprus remained
unchanged regardless of what government was in power in Turkey,
and expressed doubt on the frankness of the "fresh assurances
and promises" of what the new Turkish prime minister Mesut
Yilmaz called his government's "new approach in the human rights
field", when the past Yilmaz government had been "equally marked
by very serious human rights violations."
He said that, at the threshold of the 21st century, "the UN can
no longer, and should no longer, remain idle in the face of the
deplorable situation of the human rights violations in Cyprus
and Turkey's outright defiance of the resolutions calling for
the withdrawal of its troops and settlers from Cyprus as a first
step towards restoration of respect of human rights on the
island."
"Turkey should be equally reminded that its serious breaches
vis-a-vis the principles and norms enshrined in the
international conventions on protection of human rights and
fundamental freedoms" made Ankara accountable under
international law, he said.
Turkey should also be reminded that the obligations it had
assumed under international treaties, including treaties on
humanitarian law, "form an integral part of Turkish domestic
law, according to the Turkish constitution", he said.
Mr. Kodellas warned that Turkey's "continuous display of total
disrespect" of human rights in Cyprus not only revealed Ankara's
"true identity" but also "ridicules the entire issue of human
rights worldwide and undermines the credibility of international
organizations".
He said that protection of human rights was a "very serious
affair", with "no room for arbitrary interpretations, alibis and
further postponements".
Further tolerance would send the "wrong messages not only to
Turkey, but also to other potential violators of human rights
elsewhere," the ambassador said, warning that remaining idle
would result in regressing "to other, much darker periods of
mankind " which the international community, through the
promotion of respect of human rights, was trying to put firmly
behind it."
[11] Gov't comments on new NATO structure
Athens, 21/11/1997 (ANA)
The government yesterday denied any inconsistency between its
acceptance of NATO's new structure and a 1993 statement by
PASOK's founder Andreas Papandreou that to accept any changes to
the limits of operational control would be an act of treason.
Acting government spokesman Yiannis Nikolaou attributed the
current government's policy to the fact that international
relationships and the situation in the region under NATO's
jurisdiction had changed, therefore the structure and operation
of NATO had to change accordingly.
[12] Papariga continues tour with arrival in Canada
Toronto, 21/11/1997 (ANA - I. Frangouli)
Communist Party of Greece (KKE) Secretary General Aleka Papariga
arrived here on Wednesday at the invitation of the Canadian
Communist Party for an exchange of information and views.
Ms Papariga, accompanied by KKE central committee member
Georgios Skiadiotis, has already had her first contact with
officials in Canada while as of today she is scheduled to meet
Greek expatriate societies and make an address to local Greeks
at Toronto's Community Center in the afternoon.
During her three-day stay in Canada, Ms Papariga will also hold
talks with trade union bodies from Ontario, as well as with
federal societies.
Her visit to Toronto will be concluded with events marking the
80th anniversary of KKE and the 76th anniversary of its Canadian
counterpart. The main speakers at the event will be Canadian
Communist Party Secretary General Miguel Figueroa and Ms
Papariga.
[13] Coalition, government in war of words over OSE appointment
Athens, 21/11/1997 (ANA)
Acting government spokesman Yiannis Nikolaou yesterday called
statements by Coalition of the Left and Progress leader Nikos
Constantopoulos that ruling party PASOK was trying to poach
Coalition members "unacceptable".
Mr. Constantopoulos was commenting on the appointment of a
Coalition cadre Nikos Gratsias to the presidency of the Greek
Railways Organization, OSE.
Mr. Nikolaou said the Coalition leader's thinking was "strange
and dangerous" and that rather than hailing the government for
using members from other party affiliations, he was alleging
something else.
A Coalition announcement later said that the government
spokesman had failed in his attempt to justify the government's
handlings.
The announcement reiterated the party's proposal that the
appointment of public organization management be made by calling
for public expressions of interest, and evaluation and approval
be made by the Parliament.
[14] Constantopoulos: Support for Damanaki mayoral bid
Athens, 21/11/1997 (ANA)
Coalition of the Left leader Nikos Constantopoulos yesterday
reiterated his support for his predecessor's candidacy for
Athens mayor, which she announced earlier this week. His move
was interpreted as aiming to ameliorate internal party criticism
against Maria Damanaki.
Ms Damanaki herself initiated a round of meetings with several
party leaders, beginning with Political Spring's Antonis
Samaras, who did not rule out the possibility of supporting her
candidacy.
Democratic Social Movement (DHKKI) President Demetris Tsovolas,
meanwhile, released a letter he sent to Ms Damanaki, rejecting
her request for a meeting on the grounds that his party has
launched its own initiative for a grouping of political and
social forces in view of the local elections next year.
[15] Onassis Foundation funds study on Ioannina lake
Athens, 21/11/1997 (ANA)
The Alexander S. Onassis Public Benefit Foundation is financing
a two-year study of Ioannina's famous Lake Pambotis in
northwestern Greece, a foundation spokesman announced yesterday.
The study will be carried out by Professor Joerg Imberger,
director of the Center for Environmental Fluid Dynamics and
Chairman for Water Resources at the University of Western
Australia.
Mr. Imberger, winner of the 1995 Onassis Prize for the
Environment, will carry out the study and propose measures for
the restoration of the lake under a two-year agreement with the
Foundation.
The Foundation will fully subsidize the study with 245,000 US
dollars.
[16] Proposal to create technology park in Thrace
Athens, 21/11/1997 (ANA)
A proposal has been made for a Technology Park in Thrace by
National Hellenism Council of America president Thanasis
Spyropoulos.
Speaking at the Thessaloniki Rotary Club yesterday, Mr.
Spyropoulos proposed the foundation of a community of
approximately 80,000 people to develop research, science and
technology.
A study has been made by Greek scientist Antonios Tomazinis, who
lives in Philadelphia, in the US.
[17] Soumakis stresses importance of Greek flag for merchant shipping
New York, 21/11/1997 (ANA - M. Georgiadou)
Merchant Marine Minister Stavros Soumakis said yesterday that
the Greek-flagged merchant fleet was one of the country's most
important industries, which needed support from expatriate
shipowners.
"The Greek flag has historically proved its value. It costs
more, but is more valuable. We want to maintain its prestige.
The merchant marine needs support. It is one of the most
important Greek industries. It is a national issue," he said
during a press conference.
Mr. Soumakis held two meetings with expatriate shipowners, whom
he described "as a bastion of the Greek shipowning world", and
had an exchange of views.
He said he had drawn valuable experiences from two visits to the
US Coastguard and the US Naval Academy.
"My colleagues and I drew a very useful experience from these
two visits. We formed various ideas which we could see applied
in Greece," he said, adding that he was particularly pleased to
see that the US Coastguard had many similarities with the Greek
one.
"We have exactly the same functions, the same tasks. With one
big difference. We lag behind in means," he added.
He said an intensive program of strengthening the Greek
coastguard with naval and aerial means, and other type of
equipment was currently in progress, "to make it competent and
effective in the framework of the mission and obligations
emanating from our membership of the European Union".
Mr. Soumakis said that as a result of the Schengen Treaty, the
Greek coastguard was responsible for protecting and guarding
17,000 km of coastline, given the country's 3,000 small and
large islands.
[18] Athens to host meeting on Bourgas-Alexandroupolis oil pipeline
Sofia, 21/11/1997 (BTA/ANA)
Experts will discuss a project to build an oil pipeline between
Bourgas in southeastern Bulgaria and the northeastern Greek town
of Alexandroupolis in Athens on December 4-5, Deputy Prime
Minister Evgeni Bakurdjiev said on his return fro m Greece on
Wednesday.
Mr. Bakurdjiev held meetings with Greek Prime Minister Costas
Simitis and cabinet officials. The two sides discussed
cross-border co-operation, the oil pipeline and other energy
projects.
The pipeline is 280 km long and will cost an estimated US$
680-700 million to build, Mr. Bakurdjiev said.
Russia will take part in laying the pipeline on its territory
and will build facilities at the port of Novorossiisk. This,
along with tenders by the companies carrying the oil, will
guarantee that the pipeline will be used, the deputy prime
minister said.
An oil pipeline linking Bourgas, Sofia, Skopje and Vlore was not
discussed, Mr. Bakurdjiev said. It will be 920 km long and will
cost US$ 850 million according to estimates, he said.
Greece projects natural gas consumption in 1997 at 180-200
million cubic meters, but is planning to increase it. Part of
this amount may be transited across Bulgaria, Mr. Bakurdjiev
said.
The weakest link in the gas pipeline is the section between
Ihtiman and Stara Zagora. It is technically feasible to lay the
pipeline in twelve months, he said.
Greece will complete its part of the section between Drama and
Gotse Delchev by November 1998.
"At the end of the winter we will invite tenders for the
Bulgarian part of this section but we will be way behind our
neighbors," Mr. Bakurdjiev said.
Mr. Bakurdjiev also held meetings with Greek businessmen who are
satisfied that Bulgaria now offers them an environment to do
business.
[19] Meeting focuses on wider inter-bourse co-operation in Balkans
Athens, 21/11/1997 (ANA)
The second meeting of the Technical Committee on the Balkans,
focusing on widening the possibilities of inter-Balkan stock
exchange co-operation, was held in Bucharest on Nov. 18-19.
The meeting was attended by the presidents and representatives
of the bourses of Bucharest and Athens.
Co-operation was decided on three products: Greek Certificates
(ELPIS), the Investment Capital of Emerging Markets (EKKA) and
the Portfolio Companies of Emerging Markets (EXAA) which will be
negotiated at the Parallel Market of Emerging Markets at the
Thessaloniki Stock Exchange Center.
Meanwhile, the board of the Athens Stock Exchange has approved
the partial privatization of the Athens Stock Exchange.
According to the clauses of law 2533/1997, private investment
can amount to 2,450,000 shares, namely 49 per cent of the
company's share capital.
[20] Greek stocks perkier on industrial buying spree
Athens, 21/11/1997 (ANA)
Greek equities ended substantially higher on the Athens Stock
Exchange yesterday led by strong buying interest in industrials.
The general index closed 1.49 percent higher at 1,415.77 points
but significantly off the day's highs. The FTSE/ASE index rose
1.20 percent to 818.70.
Trading remained moderate with turnover at 17.8 billion drachmas.
Sector indices scored gains across the board.
Banks rose 0.28 percent, Insurance was 2.14 percent up, Leasing
increased 0.08 percent, Investment rose 1.49 percent,
Construction was 0.82 percent up, Industrials soared 3.09
percent, Miscellaneous increased 1.13 percent and Holding was
1.35 percent higher.
The parallel market index for small cap companies rose 1.88
percent.
Broadly, advancers led decliners by 157 to 61 with another 21
issues unchanged.
Intracom, Heliofin, Ideal and Macedonian Plastics scored the
biggest percentage gains at the upper eight percent daily
volatility limit, while Etma, Ermis, Lambropoulos and Pairis
suffered the heaviest losses. National Bank of Greece ended at
26,450 drachmas, Ergobank at 15,100, Alpha Credit Bank at
16,500, Delta Dairy at 3,395, Titan Cement at 12,000, Intracom
at 12,710 and Hellenic Telecommunications Organization at 5,310.
[21] Athens Airport SA wants rail link to new airport
Athens, 21/11/1997 (ANA)
Georg Risch, the German director general of Athens Airport SA
which is supervising construction of a new international airport
at Spata, yesterday urged the creation of a rail link to the
capital before the 2004 Olympic Games in Athens.
Speaking at a news conference on air traffic control in Athens,
Mr. Risch said that construction of a railway line from Athens
to Spata airport was imperative to ensure speed of
transportation for travelers.
Athens metro, which is currently being built, has no planned
extension to the airport.
Mr. Risch also said that works at the Spata site were
progressing rapidly and co-operation was smooth between
Hochtief, the project's German contractor, and Olympic Airways,
the Greek national carrier.
Representatives of air traffic controllers said that a new air
traffic control system would be fully operational by January 31,
1998.
They also said that delays in the Athens Flight Information
Region had fallen by 17.3 percent in January-September although
the number of flights had increased by 5.9 percent.
[22] State auditors find illegal payments in public finances
Athens, 21/11/1997 (ANA)
Greek state auditors have found a barrage of irregularities and
violations in 1995 public finances.
In a report released on Wednesday, the Audit Council reported
that it had blocked illegal payments of 19.5 billion drachmas.
Another 671 million drachmas in payments were made illegally and
proceedings were underway to have the amount returned, the
report said.
Breaches in state finances included the absence of legally
required public procurement tenders calling for the lowest
bidder, and violations in the execution of public works that led
to overspending.
Other unwarranted payments included staff travel expenses,
family benefits, non-existent overtime, and unsanctioned
recruitment.
[23] Foreign diplomats to visit northern Greece
Athens, 21/11/1997 (ANA) A delegation of more than 30 foreign
diplomats will begin a three-day tour of Thrace, northern
Greece, today aimed at promoting the region's investment
opportunities.
During the visit a seminar will be held at the Evros chamber of
commerce to present the government's economic policy.
National Economy ministry secretary general Apostolos Fotiades
will represent the government at the meeting.
The delegation includes economic and commercial attaches and
ambassadors from Albania, Slovenia, Slovakia, Hungary, Ukraine,
Russia, Belgium, Denmark, the Netherlands, Sweden, France, the
UK, Germany, Italy, Tunisia, Syria, Morocco, Thailand, Pakistan,
Chile, Canada, USA, China, Japan, India and Indonesia.
[24] Greek ministry to spend Dr 3.5 bln on worker safety
Athens, 21/11/1997 (ANA)
The development ministry has earmarked 3.5 billion drachmas to
support measures for worker health and safety through a
government-sponsored industry operational program.
A development ministry official said yesterday that workers
should be fully informed of existing legislation on health and
safety at work.
He said national laws had been fully harmonized with community
law and urged businesses to strictly implement the rules.
[25] Six insurance companies have licenses suspended
Athens, 21/11/1997 (ANA)
Six insurance companies have had their operating licenses
revoked for not paying damages to customers, Development
Under-secretary Mihalis Chrysohoidis said yesterday, adding that
another 18 companies had been fined between one and seven
million drachmas each for irregularities such as not submitting
financial records for 1996.
The six companies that have had their operation suspended are
Nordic American Standard, Apollon, Themis Insurance, National
Insurance Foundation of Greece (Ethniko Idrima Asfalion
Ellados), Propontis-Merimna and Express.
Compensation owed by these companies will be paid by the
insurance companies' reserve capital. Vehicles insured with
these companies are entitled to coverage for a period of one
month following the revocation of the companies' licenses.
Mr. Chrysohoidis said that the operating license for Mesogeios
Zois had also been revoked but that, after negotiations, the
companies' insurance policies would be assumed by Ethniki
Asfalistiki.
The Insurance Companies' Union of Greece welcomed the move,
saying that the reserve capital was enough to cover the damages,
which amounted to billions of drachmas.
[26] Legal reforms
Athens, 21/11/1997 (ANA)
Mr. Chrysohoidis added that the government was coming good on
its pledge to extend consumer rights in the insurance market,
with new legislation that would require insurance companies to
provide potential clients with information before signing
policies.
Also provided for in the new legislation are measures to
highlight the "fine print" in contracts and bring provisions to
the attention of consumers and allow consumers to have their
money refunded.
A code of conduct for the sector will be completed by early next
year, the under-secretary said, while the development ministry
plans to issue half-yearly statements on the financial status of
all companies and the details of valid consumer complaints.
[27] Intracom sees higher turnover, plans share cap hike
Athens, 21/11/1997 (ANA)
Intracom, a listed telecoms and information technology producer,
sees 1998 turnover rising to 75 billion drachmas from 56.1
billion in 1997, company sources said yesterday.
Profits this year should total 9.1 billion drachmas against 7.2
billion in 1996, the sources said.
The firm, whose customers include NATO, Hellenic
Telecommunications Organization and the Greek armed forces, is
expected to raise its share capital early in 1998.
The shares will be offered to institutional investors abroad,
and Salomon Brothers will act as lead underwriter and
coordinator for the issue, the sources said.
The capital raised will be used to help expand the firm's
activities, including takeovers of high-tech firms across the
Atlantic.
End of English language section.
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