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Athens News Agency: Daily News Bulletin in English, 98-04-15Athens News Agency: Daily News Bulletin in English Directory - Previous Article - Next ArticleFrom: The Athens News Agency at <http://www.ana.gr/>CONTENTS
[01] Simitis in Sofia underlines need for Balkan cooperationSOFIA 1504/1998 (ANA - S. Liarellis)Prime Minister Costas Simitis arrived here yesterday for a two-day official visit, accompanied by Foreign Minister Theodoros Pangalos, Development Minister Vasso Papandreou, Press and Media Minister Dimitris Reppas and National Economy Undersecretary Alekos Baltas. Mr. Simitis went into a private meeting with his Bulgarian counterpart, Ivan Kostov, as soon as he arrived. After talks later with President Petar Stoyanov, Mr. Simitis underlined the excellent level of Greek-Bulgarian relations. Mr. Stoyanov said the premier's visit marked "the highest point in the reciprocal political dialogue of bilateral relations". He said they had discussed the crisis in the strife-torn Yugoslav province of Kosovo and agreed that it affected the "image" of the Balkan peninsula. There was also consensus, Mr. Stoyanov added, that all the countries of the region should work towards broad co-operation in the Balkans. The Bulgarian president also spoke of the need "to establish a new pro- European picture for the region". Describing as "very cordial" his talks with Mr. Stoyanov, Mr. Simitis said "we are at the beginning of a new era for the Balkans and eastern Europe, not only because the dividing lines have been eliminated, but above all due to the European perspective opening up". Stressing the need for relations of supra-national co-operation, Mr. Simitis said the Balkans could play an important role in Europe. He too described his visit to Bulgaria as marking "a new phase" in cooperation with Greece's northern neighbour. In earlier meetings between Mr. Simitis and Mr. Kostov and the delegations of the two countries, talks focused on bilateral relations, Bulgaria's efforts to join the European Union and NATO and particularly issues of economic co-operation such as the a greement on the management of the waters of the Nestos River, the Burgas-Alexandroupolis pipeline and the opening of new border crossings. Mr. Simitis also met with Bulgarian Parliament Speaker Ivan Sokolov, who underlined the desire of both sides to further develop bilateral relations. Observing that friendship and cooperation must be displayed in practice, Mr. Simitis said Greece had done precisely this and would continue to do so in the future regarding the issue of Bulgaria's application for EU and NATO membership. Bulgaria's NATO accession a necessity : Sofia and Athens agree that no power blocs should be created in the Balkans, the Greek premier said last night. He was speaking at an official dinner held in his honour by his Bulgarian counterpart. Mr. Simitis said that Bulgaria's bid to join the European Union was a "necessity" and that Greece would support the bid as well as Sofia's bid to join NATO. These developments would contribute to the strengthening of regional stability, Mr. Simitis said, as indicated by the joint declaration on Kosovo of the five Balkan nations recently. He said the progress noted in the Bulgarian economy was "encoura-ging" and that Greece was prepared to help its recovery, asking at the same time for simpler procedures from the Bulgarian side on issues related to agreements on the Nestos River, the Bur gas-Alexandroupoli pipeline and the avoidance of double taxation. Greece is working as fast as possible on the opening of three new border posts between the two countries, he added, stressing that bilateral cooperation in the sectors of transport, telecommunications, communications and energy were a key factor in com mon regional strategy. Meetings with Bulgarian political party leaders : SOFIA (ANA - B. Borisov) - Unanimity is absolute among Bulgaria's political circles over the need for further developing and widening relations with Greece. That conclusion was drawn by the results of Mr. Simitis' meetings with the leaders of Bulgaria's main political forces last night. The assessment is mutual on the need to strengthen Greek-Bulgarian cooperation on the existing positive basis, the president of the Union of Democratic Forces' Parliamentary group, Ms Mihailova, told the ANA. She thanked the Greek premier for the steadf ast and consistent support provided by Athens for Sofia's accession course towards the European Union and NATO. Opposition Bulgarian Socialist party president Georgi Parvanov said after meeting Mr. Simitis that relations between the BSP and (Greece's ruling) PASOK are an important factor for widening bilateral relations. During his meeting with Mr. Simitis, he stressed the need for the present stagnation to be overcome concerning major plans for upgrading infrastructure. European Left president Alexander Tomov briefed Mr. Simitis on efforts being made to restructure the Left which the party is making as the main representative of social democracy in Bulgaria. Meanwhile, the joint presidents of the centre-right Popular Union, Stefan Savov and Anastasia Mozev, stressed their party's support for the development of bilateral relations. Athens News Agency[02] Karamanlis still listed in critical conditionAthens 15/04/1998 (ANA)Hospitalised former president Constantine Karamanlis was still listed in a critical condition yesterday, with attending physicians saying they were "prepared for any eventuality".An attempt on Monday to get the ailing New Democracy founder and former president off a respirator failed, while doctors said they will consider making a second attempt today,but only if the 91-year-old patient responded positively right away. Mr. Karamanlis was placed on breathing support after his heart stopped beating early on Sunday. His advanced age, doctors said, was working against his full recovery from a respiratory infection, which led to his being admitted to the hospital early last week. They are concerned over the fact that the infection shows no signs of receding, stressing that no progress is equal to deterioration considering his age. A cardiologist said that vital organs other than the heart and lungs had not been affected, which left a small margin of hope. Under certain conditions, the situation is reversible, he added. Former ND prime ministers Constantine Mitsotakis, George Rallis and Tzannis Tzannetakis were among those who visited the Hygeia Hospital in northern Athens yesterday to receive news of the former president's health. Athens News Agency[03] Bucharest conference on creation of Balkan rapid deployment forceAthens 15/04/1998 (ANA)Military experts from Balkan countries are kicking-off a two-day conference in Bucharest today to discuss the creation of a rapid deployment deterrence force by countries in the region.Representatives from Albania, Bulgaria, the Former Yugoslav Republic of Macedonia (FYROM), Romania, Slovenia and Turkey will attend, while Greece will be represented by an officer with the rank of colonel. The United States and Italy will send observers . It should be noted that Greece has proposed Thessaloniki as the force's headquarters; Bulgaria has proposed Plovdiv and Turkey is promoting Edirne, while according to a press report a location in FYROM is also being considered. Greece has proposed that final decisions be reached during a planned meeting of the above countries' defence undersecretaries and gerenal staff deputy chiefs, during an upcoming meeting in Tirana. Athens News Agency[04] No comment on confidential documents reportAthens 15/04/1998 (ANA)The government yesterday declined to comment on what is purported to be a confidential document sent to the foreign ministry by Greece's permanent representative at the United Nations, Ambassador Christos Zacharakis. In the document, published in yest erday's edition of the Athens daily "Vradyni", Mr. Zacharakis warns the Greek and Cyprus governments to distance themselves from the ongoing US initiative on the Cyprus problem in order to avert an "ignominious compromise".According to the article, Mr. Zacharakis warns that Washington is paving the way for the recognition of the illegal Turkish Cypriot regime in the Turkish-occupied north of Cyprus, which only Ankara has recognised. Replying to reporters' questions on the newspaper article, acting government spokesman Yiannis Nikolaou said "there can be no public dialogue on a confidential document". Athens News Agency[05] Athens 2004 organising committee convenesAthens 15/04/1998 (ANA)The Athens 2004 Olympic Games organising committee held its inaugural meeting yesterday at Athens' Zappeion Hall.Committee Chairman Stratis Stratigis said the organising committee has undertaken all of its responsibilities emanating from a contract signed for the Athens 2004 Games. The committee approved the oganisational structure of the company "Athens 2004 S.A.", while a decision was ratified for the National Investment Bank for Industrial Development (ETEBA) to be assigned consultant duties. Furthermore, the managing director of the organisation, Costas Bakouris, stressed that "the olympic village is among our priorities, as far as projects are concerned". The next meeting of the committee will he held on May 5. Athens News Agency[06] Anti-racist march in AthensAthens 15/04/1998 (ANA)Several anti-racist and leftist organisations organised a rally yesterday in downtown Athens, demanding equal rights for both foreign and Greek workers as well as the immediate legalisation of all undocumented foreigners.Appoximately 400 protesters participated in the rally, which began at Athens University's main administration building and concluded in front of Parliament. The rally's organisers accused political parties and the media of waging in a "marathon" to cultivate xenophobia, especially against Albanian nationals. Athens News Agency[07] Tsohatzopoulos-Burns meeting over upcoming Cohen visitAthens 15/04/1998 (ANA)National Defence Minister Akis Tsohatzopoulos yesterday received US ambassador Nicholas Burns, in view of an upcoming visit to Athens of US Defense Secretary William Cohen on April 21.Sources said the two men discussed issues of security in the region and bilateral cooperation in the defence sector. The ambassador also discussed Mr. Cohen's upcoming visit, as well as those of US Secretary of State Madeleine Albright and presidential envoy to the Balkans, Robert Gelbhart, with Alternate Foreign Minister George Papandreou. Athens News Agency[08] Inter-ministerial committee on 'Agenda 2000'Athens 15/04/1998 (ANA)The inter-ministerial committee held a meeting at the foreign ministry on the "Agenda 2000" programme yesterday, during which issues were examined concerning the absorption of funds from the Delors II package, as well as agricultural issues.Other issues discussed concern new regulations for structural funds and the Cohesion Fund, while Agriculture Minister Stephanos Tzoumakas expressed his views on the prospects of agriculture. Mr. Tzoumakas focused on agriculture in relation to the course of negotiations at the OECD and World Trade Organisation (WTO) level. The meeting was chaired by Alternate Foreign Minister George Papandreou and was also attended by Foreign Undersecretary Yiannos Kranidiotis and National Economy Undersecretary Christos Pachtas, among others. Athens News Agency[09] Romeos says anti-crime measures will intensifyAthens 15/04/1998 (ANA)Measures to contol crime around the country will intensify until results are apparent, Public Order Minister George Romeos told a press conference yesterday.He also admitted that so far, measures to fight crime have been ineffective. Referring to the increase in crime in Greece over the past few months, Mr. Romeos said that although the government's measures were not expected to eradicate crime, poor results had been noted and that the ministry was not satisfied. Regarding foreigners and their relationship to the recent crime wave in Greece, the minister said that the government was trying to promote two things: Firstly, to complete the registration of undocumented foreigners, and second, to record foreigners wishing to stay legally or permanently in the country, distinguishing them from the illegals. "We are in first place in Europe in terms of black market employment," Mr. Romeos said, adding that "the government is planning to promote a law...on those groups' social integration, avoiding at all costs their marginalisation". Mr. Romeos added that "green cards" granted to successful applicants will be official documents bearing fingerprints and will not be able to be forged. Athens News Agency[10] Effort to save Lord Byron's homeAthens 15/04/1998 (ANA)British Eurodeputy Ken Coates, who is also the president of the Bertrand Russell Foundation, called on British PM Tony Blair to rescue the ancestral home of Lord Byron from destruction due to coal mining.According to reports, a coal mining company has bought the coal rich estate on which the residence stands and is planning to begin mining operations, something that will result in the residence's subsidence. Meanwhile, a committee for the protection of Lord Byron's Heritage was set up in Greece to assist the movement in Britain. The committee, which was established a few months ago by citizens of the Vyronas municipality in eastern Athens has organised events from April 25 to 27 in memory of the great poet and philhellene. Athens News Agency[11] Programme to upgrade Greek museumsAthens 15/04/1998 (ANA)Culture Minister Evangelos Venizelos yesterday announced a "sweeping", as he described it, 13-billion-drachma programme aimed at securing more public investment funds for upgrading the country's museums.He said 15 major repair and expansion projects were underway in various Greek museums, while there are plans for the construction of 14 new ones. Mr. Venizelos also announced that the ministry is planning 40 exhibitions domestically, 15 overseas, and 630 interventions in archaeological sites over the next 12 months. Restoration works will receive nine billion drachmas, of which seven billion target archaeological sites. Finally, a four-day conference has been scheduled to begin on Sunday, April 26, focusing on the Archaeological Service's work last year. Athens News Agency[12] Fouras on pro footballAthens 15/04/1998 (ANA)Sports Undersecretary Andreas Fouras yesterday said Greek soccer's credibility is in the hands of the major pro soccer clubs, "which wield immense power and influence."He also hinted that he agrees with an extrajudicial summons issued by 12 pro soccer teams against the administration of the Federation of Professional Soccer Teams (EPAE). Referring to EPAE, Mr. Fouras said "its composition is illegal. Soccer is ailing and EPAE managed to become illegal." Mr. Fouras also said that after Easter he will meet with the Greek Soccer Federation (EPO) and the Panhellenic Federation of Professional Soccer Players (PSAP) to discuss a new draft law on sports. Athens News Agency[13] Greenpeace members arrested at protest outside soy millAthens 15/04/1998 (ANA)Nine Greenpeace activists, seven Greek nationals and two Germans, who had blockaded a major soy mill plant near the Corinth Canal in protest over genetically altered soya were arrested yesterday afternoon by police.Earlier in the day, some 30 activists of the international environmental advocasy group blocked the gates of the Soy Mills Co., demanding an end to the importation of genetically altered products. Greenpeace demands that consumers be provided only with unaltered foodstuffs. Activists taking part in the protest erected a huge banner outside the facility stating: "Genetic Danger Stop". A Greenpeace official later said that Soy Mills Co. cannot guarantee a non- genetically altered supply for supermarkets, consumers, food industries and stockbreeders. According to a Greenpeace, more than 300,000 tons of soy beans are consumed in Gr eece annually, while the genetic alterations were induced with the use of non-edible organisms. Athens News Agency[14] Greece has bad record on the roadAthens 15/04/1998 (ANA)Greece has one of the worst records in Europe for the number of road accidents and fatalities which is fast taking on epidemic proportions in the so-called advanced countries of the world.According to available data, an average of one in 80 European citizens will die on average four years earlier than normal life expectancy and one in three will require hospital treatment during the course of their lifetime as a result of a road accident . The data is contained in reports to be presented at the 13th Medical Conference of Northern Greece which will be held in Thessaloniki from May 15-17. In 1994, according to the data, 2,050 people died in road accidents in Greece, which corresponds to 20.5 deaths per 100,000 inhabitants. By comparison, the corresponding figures for Finland, the Netherlands, Sweden and the United Kingdom were between 6.8 and 8.6 deaths per 100,000 inhabitants. It is estimated that more than 45,000 people die and over 1,600,000 injured in just one year in the 15-member European Union. According to the reports, alcohol consumption is a major factor in road accidents, being responsible for one in three fatalities. Breathalyser tests carried out in Athens and Thessaloniki between September 1997 and January 1998 showed that 6-7.5 per cent of drivers were intoxicated. The corresponding average figure for the EU is 5 per cent. The reports say that if these drivers were persuaded to drive with a blood- alcohol content of less than 0.5 per cent, 683 lives would be saved in road accidents in Greece annually. Athens News Agency[15] Opposition to Maliakos Gulf underwater tunnelAthens 15/04/1998 (ANA)The Fthiotis prefectural council yesterday reiterated its opposition to the proposed construction of a three-kilometre underwater tunnel beneath the Maliakos Gulf near Lamia, central Greece.The council rejected an environmental study as inadequate, and stressed what it called the adverse effects on the region's economy as well as safety considerations, as the area is earthquake prone. Attending officials from the environment and public works ministry, which is sponsoring the project, took a hammering of their views, and admitted the existence of environmental effects, although they claimed these would be only temporary. They insisted, however, that the projects posed no safety concerns if all specifications were met. Prefectural officials expressed confidence that the Council of State, where the issue has been referred, will vindicate opponents by annulling the project. Another important factor on the issue will be the decision of Environment Minister Costas Laliotis, who by law is entitled to approve the project. Both Mr. Laliotis and the Prime Minister, Costas Simitis are scheduled to visit the prefecture next month. Athens News Agency[16] ALTEC first quarter pre-tax profits, turnover increaseAthens 15/04/1998 (ANA)The ALTEC company, which recently acquired the Stat firm, yesterday announced its entry to the telecommunications sector. The announcement was made during ALTEC's annual general assembly by its president T. Athanasoulis.The company already has a cooperation agreement with AT&T. Pre-tax profits in the first quarter showed a 68 per cent increase, rising to 301 million drachmas, compared to 179 million over the same period of 1996. Turnover increased by 55 per cent, reaching 6.2 billion drachmas, compared to four billion drachmas in the same period of 1997. Athens News Agency[17] Hellenic Oil floatationAthens 15/04/1998 (ANA)Hellenic Oil SA (the former State Oil Corp.) is expected to float shares on the Athens Stock Exchange around mid-June.As the companyYs managing director, Eleftherios Tzellas, announced yesterday, procedures are already in their final stage, with 20 per cent of the companyYs shares to be made available to investors. The company has been operating under a new organisatio nal scheme since April 1. Athens News Agency[18] Government not planning to file for OA's bankruptcy-ministerAthens 15/04/1998 (ANA)The government is not ready to declare Olympic Airways bankrupt but the airline will close if unions fail to adhere to a five-year restructuring plan, Transport Minister Tasos Mantelis said yesterday."From what I am in a position to know, the issue of bankruptcy has not been raised so far. It is certain, however, that if OA doesn't work properly it will close," Mr. Mantelis told reporters. He was replying to talk on Monday that OA's management had told the Union of Civil Aviation Pilots that if workers failed to accept a series of work regulations then OA's legal department would study filing for bankruptcy. The union's representatives said they would adhere to the new law on the airline's revitalisation but would enforce a work to rule and reject any loss of time in lieu. Mr. Mantelis said the airline needed time to adjust to the new work regulations in order to function well. Athens News Agency[19] New Democracy claims OA is falling apartAthens 15/04/1998 (ANA)Main opposition New Democracy party spokesman Aris Spiliotopoulos claimed yesterday that the national carrier was disintegrating despite the fact that the government's restructuring plan had become law."The inability of the Simitis government to deal with any serious problem is demonstrated by the growing chaos in Olympic Airways," Mr. Spiliotopoulos said. He said the economy and tourism were being hurt, and called on the government to get the airline working properly. "The only outcome of government policy will be bankruptcy and the closure of Olympic, or its downgrading so that it can be offered unconditionally to any foreign company," Mr. Spiliotopoulos said. He repeated his party's proposal for Olympic:
Athens News Agency[20] Communist Party charges gov't with OA sell-offAthens 15/04/1998 (ANA)The Communist Party of Greece (KKE) yesterday charged the government with trying to sell OA and Hellenic Vehicles Industry cheaply to multinationals."Olympic would have been sold off even if it was healthy," the party claimed in a statement. "The scenes of chaos at Olympic were not created by workers but by government policy," the statement said. The party called on workers in state-run defence industries to coordinate protests with other workers in state companies. It claimed that the government was whittling away the country's productive base and handing Greek armaments programmes over to what it called centres of imperialism. Athens News Agency[21] Government presents reform plan for Athens city transportAthens 15//04/1998 (ANA)The overnment yesterday released a package of proposals to restructure public transport in Athens. Transport and Communications Minister Tassos Mandelis said the government had rejected a partial privatisation of Athens public transport, and would instead transfer operations to local authorities. The proposals will be discussed by the parties involved before a final agreement is reached at a meeting in late June. The proposals include applying a strategic approach to problems, economic restructuring of the system, a reallocation of investments in public transport, greater efficiency in human and other resources, and improving the quality of services. Mr. Mandelis said the proposals would be funded by a redistribution of public investments, and there would be no further fare increases in 1998. Athens News Agency[22] Athens urban transport unions reject gov't proposalsAthens 15/04/1998 (ANA)Athens urban transport unions yesterday rejected the government's proposals on reforms for the system.They said in a statement the only solution was to create an umbrella organisation to unify city transport. The unions also called for an improvement in services, recruitment of 500 new drivers, better planning and maintenance of timetables, and improved access to information for passengers. Athens News Agency[23] ND sharply criticises gov't policy on public transportAthens 15/04/1998 (ANA)Main opposition New Democracy spokesman Aris Spiliotopoulos yesterday criticised the government over its policies regarding state-run mass transportation systems, saying that after last week's "Olympic Airways fiasco" it now speaks of restructuring public transport in the greater Athens area.Mr. Spiliotopoulos accused the government of being a "spectator" of state control at a time when courageous privatisations and deep restructuring is needed. Athens News Agency[24] Greek stocks again hit new record, show signs of fatigueAthens 15/04/1998 (ANA)Greek equities yesterday broke into record territory for the twelfth time in 21 sessions on the Athens Stock Exchange, ending slightly higher.But the market showed signs of fatigue following a surge on Monday, traders said. Turnover remained heavy with turnover at 65.2 billion drachmas despite computer trading problems approximately 10 minutes before the close, when volume often jumps. The general index ended 0.47 percent higher at 2,266.35 points. Sector indices were mixed. Banks rose 0.43 percent, Insurance fell 0.15 percent, Investment ended 2.22 percent up, Leasing soared 7.58 percent, Industrials were 0.08 percent up, Construction eased 0.74 percent, Miscellaneous rose 1.12 percent and Holding was 1.14 percent higher. The parallel market index for small cap companies rose 3.60 percent. The FTSE/ASE 20 blue chip index ended 0.25 percent up at 1,349.12. Broadly, advancers led decliners by 131 to 110 with another 17 issues unchanged. Sysware, Singular, General Bank, Pouliades, Radio Athina, Lambropoulos, Bank of Central Greece, Intrasoft and Sfakianakis scored the biggest percentage gains at the day's 8.0 percent limit up. Barba Stathis, Hadzioannou, Fintexport and Dane suffered the heaviest losses at the day's limit down. National Bank of Greece ended at 40,205 drachmas, Ergobank at 25,850, Alpha Credit Bank at 25,860, Delta Dairy at 4,050, Titan Cement at 25,245, Intracom at 19,890 and Hellenic Telecommunications Organisation at 8, 285. Athens News Agency[25] Government sets up banking group to study EMUAthens 15/04/1998 (ANA)The national economy ministry yesterday announced the creation of a banking committee to study changes ahead of the European Union's economic and monetary union (EMU).The decision was reached at a meeting of National Economy and Finance Minister Yiannos Papantoniou, Bank of Greece governor Lucas Papademos, Labour Minister Miltiades Papaioannou and representatives of the country's bank employees federation. The officials discussed the possible impact of the euro on Greece's banking system. They agreed that competition would be stiff and the banking system could face collapse in the next three years unless it adopted major reforms. Bank union representatives said they were against privatisation in the banking system and warned the government not to proceed with its plans during the committee's tenure. Athens News Agency[26] EOT signs lease for Lefkada Xenia HotelAthens 15/04/1998 (ANA)The Greek National Tourism Organisation (EOT) yesterday signed a lease agreement for the Union of Farming Cooperatives of Lefkada to operate the state Xenia Hotel on the Ionian island.Representing EOT was its secretary general, Nikos Skoulas. The arrangement is part of a wide-ranging plan by EOT to lease its assets. Athens News Agency[27] Commercial Bank of Greece to pay Dr 350 dividend for 1997Athens 15/04/1998 (ANA)Commercial Bank of Greece, the country's second largest state bank, will pay out 7.6 billion drachmas in dividends.The bank said in a statement yesterday that the board had approved the 1997 balance sheet and would propose a dividend of 350 drachmas per share. Athens News Agency[28] Campaign begins to keep trade fair organiser in state handsAthens 15/04/1998 (ANA)Local authorities in the northern city of Thessaloniki have said they will coordinate a campaign to oppose privatisation of HELEXPO-TIF, the state trade fair organiser.The prefecture council of Thessaloniki, where the international trade fair premises and its management are housed, said in a resolution late on Monday it would act as a local coordinator to keep HELEXPO-TIF in state hands. "HELEXPO is a national project. It is an instrument of national trade fair policy and promotes the Greek economy internationally," the resolution said. If HELEXPO is managed rationally and kept free of party political interests, it could be highly profitable," it said. The council said the only change in ownership status it would accept was the acquisition of shares in HELEXPO's commercial operations by local concerns that would leave its real estate untouched. "Any other change in HELEXPO's ownership status, especially transferring real estate and management to the private sector, is unacceptable," the resolution said. Attending the meeting that adopted the resolution were Thessaloniki Prefect Constandinos Papadopoulos, deputies, mayors and HELEXPO's president, Andonis Kourtis. Athens News Agency[29] New Democracy blasts gov't over devaluation impactAthens 15/04/1998 (ANA)The main opposition New Democracy party yesterday slammed the government for allegedly failing to curb price rises stemming from a 13.8 devaluation of the drachma last month."The devaluation's immediate repercussions and the government's total inability to intervene with regulatory rather than policing measures to normalise the market, have led to a price explosion and killed off commerce, " ND spokesman Aris Spiliotopoulos said. The devaluation was linked to the drachma's entry into the European Union's exchange rate mechanism on March 14, the day of the devaluation. "The public, already heavily taxed, has never before lived this kind of misery, which the Simitis government has ensured for Easter this year," Spiliotopoulos said. Athens News Agency[30] Balladur-type bonds for DEKOsAthens 15/04/1998 (ANA)The government will attempt to implement part of a privatisation programme for public utilities (DEKOs) over the next 18 months by issuing Balladur- type bonds.It will provide these bonds for investors which will be converted into shares over a certain period of time, in an effort to receive in advance funds from the partial flotation of DEKOs, which it has already announced. Elaborating on the issue yesterday, Finance Undersecretary Nikos Christodoulakis said that the provision of Balladur-type bonds convertable into shares will be utilised for the partial flotation of DEKOs the government intends to do. Mr. Christodoulakis said that Ethniki-Eurobank and Paribas (a French bank which has promoted the Balladur bonds in France) have already been entrusted to prepare a study on the way with which these bonds can be utilised in the partial flotation of Greek DEKOs. He also announced the results of the recent auctioning of three and six- month treasury bills, as well as the public sector's loans programme until the end of May which is aimed at covering 700 billion drachmas. Interest rates decreased by about two percentage points in the auction. Consequently, for the three-month treasury bills the interest rate offered by banks was set on average at 10.7 per cent from 12.8 per cent. Securities worth 100 billion drachmas wer e auctioned from the three-month treasury bills. Sixty billion drachmas were auctioned for six-month treasury bills with an average interest rate of 11.3 per cent from 13.8 per cent. Athens News AgencyAthens News Agency: Daily News Bulletin in English Directory - Previous Article - Next Article |
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