Athens News Agency: Daily News Bulletin in English, 98-04-23

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

From: The Athens News Agency at <http://www.ana.gr/>

CONTENTS

[01] ��� Stetesman Karamanlis dies at 91

[02] Simitis

[03] Karamanlis' political career spanned five decades

[04] President Stephanopoulos begins official visit to Hungary

[05] Tsohatzopoulos sees no positive development in Greek-Turkish relations

[06] Initiatives on Cyprus problem must be based on UN resolutions

[07] Holbrooke expected to visit Cyprus May 2-8

[08] Turkish F-16s infringe Athens FIR

[09] Tzoganis to hold defence talks in Yugoslavia

[10] Austria says willing to mediate between Turkey, EU

[11] Athens ready to respect European court rulings

[12] Gov't to woo private capital for ELBO

[13] UNESCO group protests possible destruction of ancient salt-pit

[14] Simitis to chair government-party meeting tomorrow

[15] Exact location of new gold deposits revealed

[16] Mortgage, Ionian bank employees to stage warning strikes

[17] Greek exports to Japan mark slight increase

[18] Labour minister heads for Egypt

[19] 'Poseidonia' maritime fair in Piraeus

[20] No decision yet on sale of Greece's Ionian Bank - minister

[21] Opposition reactions

[22] Greek stocks edge down on profit-taking

[23] Greek capital markets commission to change trading limit-sources

[24] Greece repeats policy of joining EMU in second phase

[25] Greece warns against gauging economy on bourse's surge

[26] Greek fuel prices rise due to international market

[27] Greek chemicals firm starts using Russian natural gas

[28] Turks sentenced for immigrant smuggling

[29] Brake fault forces Mirage to land

[30] Canadians still missing, priest found drowned

[01] ��� Stetesman Karamanlis dies at 91

Athens 23/04/1998 (ANA)

Karamanlis, who was hospitalised two weeks ago with a lung infection, died of a heart attack without recovering consciousness.

His close friend and former diplomatic adviser Petros Molyviatis announced his death to reporters at 2:00 am. saying: "The president died today April 23, at 1:40 after a heart attack".

The elderly statesman, whose political career spanned five decades, founded the New Democracy party following his triumphant return to Greece from self- imposed exile in Paris in the wake of the collapse of a seven-year military dictatorship in July 1974 .

Karamanlis, who served as his country's prime minister four times and was twice head of state, ordered a referendum in December 1974 in which 70 percent of the electorate voted for the abolition of the monarchy and the setting up of a presidential repub lic in its stead.

His nephew, Costas Karamanlis, leader of the main opposition New Democracy party said in a statement:

"Constantine Karamanlis, the great and inspired leader, whose creative work changed Greece's destiny has entered history.

"The vision and principles of our (party's) founder will always inspire and guide us."

After Karamanlis' death was known, Interior Minister Alekos Papadopoulos and Health Minister Costas Geitonas arrived at the hospital to convey Prime Minister Costas Simitis' condolences, as they said.

Former Prime Minister and honourary president of New Democracy party Constantine Mitsotakis praised in a statement Karamanlis' "eminent" role in Greek politics in the second half of the century.

"Constantine Karamanlis played a decisive role in achieving three great post-war goals for Greece: the nation's recovery from poverty, the restoration of democracy after 1974, the best ever in the country, and Greece's accession to the European Union," Mr. Mitsotakis said.

"Karamanlis' achievements were acknowledged by the entire Greek people," Mr. Mitsotakis added.

Athens News Agency

[02] Simitis

Athens 23/04/1998 (ANA)

Mr. Simitis said that "Kara-manlis' tireless efforts in guiding Greece to the European Union, placed the country in the right position it deserved within the family of the European states."

"Karamanlis broke Greece's international isolation resulting from the seven- year dictatorship and broadened its international horizons. He substantially contributed in normalising Greece's relations with its Balkan neighbours consolidating a climate of peace, friendship, stability and cooperation in the wider region."

"For a decade," Mr. Simitis went on, "Karamanlis, as a president of the republic attached particular importance both in the country's international relations and domestic politics."

"The Panhellenic Socialist Movement (PASOK), the government and I personally pay our utmost hommage to him, the politician who dominated the country's post-war history".

Athens News Agency

[03] Karamanlis' political career spanned five decades

Athens 23/04/1998 (ANA)

He arrived to Athens in 1923, and graduated from the Athens University Law School in 1929. He enlisted in the 30th Infantry Regiment in Serres in 1930, but was discahrged four months later due to a hearing impediment.

Mr. Karamanlis was elected to parliament for the first time in 1935 as an MP for the Peoples Party from the Serres region, and was re-elected in 1936, but after the August 4 dictatorship was imposed he returned to Serres and started practicing law.

In 1941, the year of the Nazi occupation of Greece, he settled in Athens and became a member of the Athens Bar Association, and a year later, together with Constantine Tsatsos, Xenophon Zolotas and Georgios Mavros formed an intellectual group concered over the future of the country. The group dissolved three years later.

In 1944, Mr. Karamanlis secretly left occupied Greece and reached Cairo via Turkey and Syria and from there to Alexandria (October 1944). Upon arrival he learned that Athens had been liberated, and returned to Greece.

In 1946 he was elected again to Parliament as a deputy on a conservative ticket P formerly People's Party (Laiko Komma) - from Serres. The same year he travelled to the United States and underwent successful surgery for a hearing problem and, while there, was appointed a member of the financial mission led by Sophocles Venizelos, then applying for US aid for the restoration of damages suffered by Greece during the war. Under the aid package, Washington granted Greece 100 "Liberty" ships, which served as the basis for the reconstruction of the Greek merchant fleet.

Upon his return to Greece in November of that year, he was appointed to a government post for the first time, becoming minister of labour in the Panayis Tsaldaris government. He retained the post until a January 1947 reshuffle, and after Dimitrios Maxim os took over as premier.

In May 1948 he was appointed transports minister in the Sofoulis government, and took over the social security ministry in November that year, where he stayed for two years.

During the 1950 elections, he was re-elected to Parliament from Serres with the People's Party, and in September that year briefly became defence minister in the Sophocles Venizelos government.

In 1951 Karamanlis joined the Greek Rally (Synargemos) party, newly-establi- shed by retired Field Marshal Alexandros Papagos, and was elected to Parliament on that party's ticket, re-elected in 1952, both times as a deputy for Serres. In July 1952 he married Amalia Kanellopoulou, the niece of Panayiotis Kanellopoulos, whom he divorced in 1970. That same month he was appointed to the ministry of public works, where he remained until 1955, also taking over the transports portfolio in December 1954.

In October 1955, Karamanlis became premier for the first time, having been given the mandate to form a government by King Paul after Papagos' death.

On Jan. 4, 1956, Karamanlis established the National Radical Union (ERE) comprising most of the Greek Rally MPs and eminent members of the centrist parties, including Constantinos Tsatsos and Evangelos Averof. ERE won the general elections a month later and Karamanlis formed his second government, in which he also held the national defence portfolio.

In 1958, after 15 ERE MPs left the party, the government lost its absolute majority in Parliament and new elections took place in May, when Karamanlis became prime minister of his third consecutive government. In February the next year, Karamanlis' talks with his Turkish counterpart in Zurich and the quadripartite talks in London resulted in the signing of the Zurich and London Treaties, respectively, declaring Cyprus a unified and independent republic.

In September 1959, talks began for Greece's accession to the EEC, and the accession treaty was signed two years later, becoming effective on Nov. 1, 1962.

Karamanlis remained premier until 1963, as his ERE party won the next general elections in 1961. He resigned in June 1963 after a dispute with the palace, opposition accusations over the 1961 electoral result, and the explosive situation that had been created after the assassination of left- wing EDA party deputy Grigoris Lambrakis in Thessaloniki by supporters of the extreme-right.

Karamanlis resigned as the head of ERE after the party failed to carry the November 1963 elections, and a month later went into self-exile in Paris, where he remained for 11 years, during which time he was not actively involved in politics.

Karamanlis triumphantly returned to Greece on the night of July 23, 1974, after the toppling of the seven-year colonels' dictatorship in the country.

He formed a national unity government the next day, and established the New Democracy (ND) party in September in view of elections in November, which his party carried with 54 per cent of the vote and in which he was elected a deputy for Athens' first district. He also legalised the Communist Party of Greece (KKE) in September, while a December referendum abolished the monarchy and established a presidential democracy.

ND also carried the November 1977 general elections with 41 per cent and Karamanlis was elected in Athens' first district.

He remained prime minister until May 1980, when he resigned after Parliament elected him president of the republic in the third round of voting and he was succeeded by Georgios Rallis as ND leader and premier.

He remained in the presidency until 1985, when he was succeeded by Supreme Court judge Christos Sartzetakis, and was re-elected by Parliament to the presidency in 1990. At the end of his term in 1995, Karamanlis retired from public life and was succeede d by Kostis Stephanopoulos.

Athens News Agency

[04] President Stephanopoulos begins official visit to Hungary

BUDAPEST 23/04/1998 (ANA - N. Megadoukas)

President Stephanopoulos, who is paying an official visit to Hungary together with Foreign Minister Theodoros Pangalos and National Economy Undersecretary Alekos Baltas, briefed his Hungarian counterpart Arpad Goncz and Hungarian Prime Minister Gyula Ho rn on the present phase of the Cyprus issue.

He said that "there is no obstacle in promoting Cyprus' accession to the European Union", adding that interventions made by countries outside the EU cannot possibly have consequences in the accession process.

Apart from the Cyprus issue, talks focused on the problem of Kosovo, Hungary's bid to join Euro-Atlantic structures (a request strongly supported by Greece) and the promotion of bilateral relations in the cultural and, primarily, the economic and commerci al sector. President Stephanopoulos is also accompanied by a delegation of Greek businessmen who are active in central Europe.

President Goncz said that there was a coincidence of views with President Stephanopoulos on issues in the region and referred to a possible Hungarian participation in the development of the Greek railway system. President Goncz further said that there is no shadow in Greek-Hungarian relations and that "we cannot find a point of disagreement between us even with a microscope."

President Stephanopoulos offered assurances that the Greek Parliament will ratify the Madrid protocol soon on the accession of Hungary and other countries to NATO. He also said that there was a coincidence of views on the need for cooperation between Ba lkan countries, as well as with neighbouring countries such as Hungary. He also expressed concern over the situation in Kosovo.

President Stephanopoulos said that a solution of widespread autonomy must be found without a change in the borders of Yugoslavia.

Replying to a question on whether a solution to the Kosovo issue will constitute an example for the Hungarian minority in Vojvodina, President Goncz said that there was a big difference in the two issues.

Referring to Cyprus and replying to a question on whether Greece would accept a Dayton-type conference on the issue, President Stephanopoulos said that the issue of Cyprus belongs to the jurisdiction of the UN, but this does not mean that it does not ac cept mediating efforts from others such as the US, the EU and individual European countries.

Replying to a question on NATO's role, President Stephanopoulos said that on the issue of Greek-Turkish relations the alliance has a certain room in which it can move.

On his part, the Hungarian President said that NATO, with its new structure, can fulfill peaceful targets, adding that a solution to the Cyprus issue is a primary interest for Hungary.

President Stephanopoulos will attend the opening of a conference for businessmen from Greece and Hungary today, while tomorrow he will visit the Greek village of Beloyiannis.

Athens News Agency

[05] Tsohatzopoulos sees no positive development in Greek-Turkish relations

Athens 23/04/1998 (ANA)

"My US colleague came to talk with me. He did not come to exert pressure nor to tell us what to do. This is the exclusive privilege of the Greek government," Mr. Tsohatzopoulos said in reply to reporters' questions.

Mr. Tsohatzopoulos had talks in Athens on Tuesday with Mr. Cohen who paid a five-hour visit to Greece.

"Personally, I do not believe that there are any prospects for a development in a positive direction in the immediate future," Mr. Tsohatzopoulos said, attributing this to the fact that "Turkey at the present time, due to its internal problems, has adop ted a tactic of reacting negatively to European Union decisions".

Therefore, he added, Turkey is - with respect to Greece - completely unable to approach issues in a realistic manner, "which for us is the only way to improve Greek-Turkish relations".

Mr. Tsohatzopoulos charged that Turkey, owing to its "destabilising behaviour" was acting as an obstacle to the desire of all countries in the region for stability, peace and cooperation.

He called on the Western European Union (WEU) and NATO to exert pressure on Turkey to make it reconcile itself to the need for stability, cooperation and peace in the region.

Athens News Agency

[06] Initiatives on Cyprus problem must be based on UN resolutions

NICOSIA 23/04/1998 (ANA/CNA)

Mr. Kranidiotis, who is on a private visit, was briefed by President Clerides on his Monday meeting with Thomas Miller, the US State Department special coordinator for Cyprus.

Mr. Kranidiotis stressed that any international initiative on Cyprus should aim at curbing the intransigence of the Turkish side and persuade it to return to the peace talks, in compliance with UN resolution, providing for a bizonal, bicommunal federal Cyprus.

The Greek official said the US initiative "has not yet taken a specific form" and noted that the Americans "are having consultations with all sides in order to give a specific form to their initiative".

He added that the US was trying to achieve resumption of the peace talks between the leaders of the Greek and Turkish Cypriot communities and not to convene a four-party meeting to be attended by the two communities, Greece and Turkey.

Mr. Kranidiotis described Russia's role on Cyprus as "positive". He said a Russian proposal to discuss the Cyprus question in the UN Security Council was in no way barring the expected US initiative.

Present at the presidential palace meeting were also Cyprus Foreign Minister Ioannis Kasoulides, government spokesman Christos Stylianides and Undersecretary to the President Pantelis Kouros.

Athens News Agency

[07] Holbrooke expected to visit Cyprus May 2-8

ISTANBUL 23/04/1998 (ANA - A. Kourkoulas)

The spokesman also confirmed that during his recent visit to Ankara, US Defence Secretary Willian Cohen handed a letter by US President Bill Clinton to Turkish Prime Minister Mesut Yilmaz.

"The letter conveyed no US message, it only required (Ankara) to assist Mr. Holbrooke in his efforts", the spokeman said.

Earlier, Turkish daily Hurriyet had said that Mr. Clinton had asked Mr. Yilmaz to "assist in the solution of the Cyprus problem", and that this would in return "facilitate US contribution towards Turkey's EU admission".

The foreign ministry spokesman described yesterday's talks in Ankara by US special coordinator for Cyprus Thomas Miller as "open and enlightening", declining further details on their content.

Mr. Utkan also denied a quadripartite meeting on the Cyprus problem had been proposed, saying that such a meeting could not be considered, without a prior decision by the two parties in Cyprus on the terms and conditions of their talks.

In order for the two parties in Cyprus to meet, the sovereignty of the self- styled Turkish republic in the occupied north of Cyprus should be recognised, the spokesman added.

Athens News Agency

[08] Turkish F-16s infringe Athens FIR

Athens 23/04/1998 (ANA)

Twelve Greek Mirage 2000 and F1 fighters immediately took off to intercept the intruders but the Turkish aircraft had already left the area.

According to the same sources, the Turkish aircraft were not armed.

Athens News Agency

[09] Tzoganis to hold defence talks in Yugoslavia

Athens 23/04/1998 (ANA)

During his stay, Mr. Tzoganis will meet with the political and military leadership of the Yugoslav defence ministry for talks on defence matters of mutual interest. He will also have talks with Yugoslav Defence Minister Pavle Bulatovic and vis it military installations and academies.

Athens News Agency

[10] Austria says willing to mediate between Turkey, EU

VIENNA 23/04/1998 (ANA - D. Dimitrakoudis)

The Austrian Eurodeputy, who is a rapporteur on relations with Turkey in the European Parliament, concluded a visit to Ankara Tuesday, after a series of meetings with government deputy, foreign minister and other government officials.

Mr. Svoboda, who is to submit a report in the European Parliament in June, said that if the Austrian mediation ends up as a friutful intervention, then Turkey could join the second group of candidate countries and as such take part in December's EU Vienna summit.

He said during his talks in Ankara he ascertained some flexibility and willingness on the part of Turkey to make further efforts to improve its human rights record.

However, Mr. Svoboda stressed that in order for EU-Turkey relations to warm up, after the Luxembourg summit, the EU should make the first move by unfreezing the customs union agreement.

For this to be effected, according to the Austrian Eurodeputy, Greece would be required to lift its veto on Turkey's EU finance protocol.

Athens News Agency

[11] Athens ready to respect European court rulings

Athens 23/04/1998 (ANA)

Goverernment spokesman Dimitris Reppas underlined however that Greece was not a defendant in the Commission's proceedings and said that the ex-king was indirectly attempting to raise a constitutional issue "which ended once and for all in 1974".

Mr. Reppas was referring to a referendum in 1974 which abolished the monarchy in Greece. "Whoever tries to make an issue out of this offends the Greek people, because there remains absolutely nothing outstanding," the spokesman said.

Constantine's complaint concerned the confiscation in 1994 by the Greek state of former royal property and objections to the Greek state's requirement that he and his family use a surname as a condition for access to courts and for continued recognition of their Greek nationality and passports.

The Commission on Monday accepted as admissible the property aspect of the complaint but rejected as inadmissible the surname issue. Commenting on the decision, Mr. Reppas said the Commission's decision "closes one more parameter of the affair, that is, the ex-king's insistence on using the royal title". On the other aspect of the issue, Mr. Reppas noted that Constantine had acquired the property in question when he was a monarch, "because, it's quite obvious that he couldn't have acquired it as a private citizen".

Following its decision on Tuesday, the Commission will now examine Constantine's petition on its merits - a procedure expected to take several years - and place itself at the disposal of the parties with a view to achieving an amicable settlement of the matter on the basis of respect for human rights.

In a statement hailing the Commission's decision, Constantine said he had no quarrel with the Greek people or with the republican constitution.

"I have never sought special privileges or favours," he said.

Athens News Agency

[12] Gov't to woo private capital for ELBO

Athens 23/04/1998 (ANA)

"The government has decided to seek forms of denationalising ELBO with a view to restructuring and strengthening it with the participation of investment capital," he said.

He said the matter would be assigned to consultants, whose proposals would be appraised, but ruled out the possibility of a procedure similar to the one adopted in the case of Olympic Airways.

Mr. Tsohatzopoulos also stated the ministry's intention to support ELBO by placing orders for the country's big armaments programme.

The minister attended the signing of an agreement between the Hellenic Air Force and ELBO for the delivery of 645 multiple role vehicles, worth 37.5 billion drachmas, in three years. The government's plans also envisage ELBO's participation in tank pro duction for the army.

ELBO president Lykourgos Sakellaris described the company's course as satisfactory, reporting a turnover of 25 billion drachmas in 1997 and net profits of 1 billion drachmas.

Athens News Agency

[13] UNESCO group protests possible destruction of ancient salt-pit

Athens 23/04/1998 (ANA)

The ancient salt-pit, according to the group, has been declared a protected site by a Council of State (CoS) decision and a later Presedential Decree, which prohibited construction of buildings, or any other installations in the specific area.

The UNESCO group claims that Dikaiou municipality candidate mayor Vasilis Hatziyiakoumis was involved in store building "frenzy" in the area of the salt-pit until 1993 when the CoS decision was issued. He then decided to take the group to court to regain his building permit.

The ancient salt-pit is a natural habitat of rare bird species and an egg- laying site for the Caretta-Caretta and Midas sea turtles, while the group has conducted an environmental study to save the site and is currently collecting donations to fund it.

Athens News Agency

[14] Simitis to chair government-party meeting tomorrow

Athens 23/04/1998 (ANA)

Later in the same day, Mr. Simitis will meet with Cyprus President Glafcos Clerides who is coming to Athens for talks with the Greek government on the Cyprus problem.

On Monday, April 27, Parliament will hold a debate on social policy at the level of party leaders. The debate was requested by the Coalition of the Left and Progress (Synaspismos).

Next Wednesday, April 29, PASOK's parliamentary group will convene, while later in the day the first vote will be taken in parliament on the revision of the Constitution.

Mr. Simitis will fly to Brussels on May 1 to attend an ECOFIN meeting that will decide which countries will participate in the first phase of Economic and Monetary Union (EMU).

An EU summit will be held the following day in Brussels and the European Parliament plenary will meet to approve the new composition of EMU.

On Tuesday, May 5, Mr. Simitis will travel to Strasbourg to speak at a special ceremony marking the assumption by Greece of the presidency of the Council of Europe.

Athens News Agency

[15] Exact location of new gold deposits revealed

Thracian Gold Mining SA yesterday announced that the hill of Perama, a region 15 klm northwest of Alexandroupolis, is the exact location of the gold deposits it discovered last week.

Thracian Gold Mining SA added that the deposits extend for 700 metres and the up to date test drilling were very promising.

Thracian Gold Mining SA is a joint venture comprising the French firm La Source SAS, which is managing the project and has a 44.5 per cent stake in it, Silver Ore & Barytes SA for a 33.3 per cent stake, the country's largest mining company and the Cana dian firm Inmet Mining Corp. for a 22.2 per cent stake.

In ancient times Greece was a major gold producer.

Athens News Agency

[16] Mortgage, Ionian bank employees to stage warning strikes

Athens 23/04/1998 (ANA)

The announcement said that the merger is taking place at the expense of the shareholders and the staff of the Mortgage Bank, while expediencies of a different kind are being concealed and not even insurance issues are being safeguarded.

The employees also pointed out that the Mortgage Bank is fully restructured and has a high level of profit-making in past years and are criticising the Governor of the National Bank of changing his position, since in the past he had proposed an autonomo us development course for the Mortgage Bank and was promoting studies to this effect.

Employees of the Ionian Bank will also call a 24-hour strike tomorrow, demanding the promotion of the bank's modernisation and the delivery by the government of the Monitor report concerning the Ionian Bank's ownership status in relation to its parent c ompany, the Commercial Bank.

Athens News Agency

[17] Greek exports to Japan mark slight increase

Athens 23/04/1998 (ANA)

According to the source, Greek imports from Japan amounted to 667.3 million dollars in 1997 as against 800.1 million dollars in 1996, showing a decrease of 16.6 per cent.

The prospects of Greek exports for the current year, according to the source, are very positive and are expected to exceed 100 million dollars in value.

Athens News Agency

[18] Labour minister heads for Egypt

Athens 23/04/1998 (ANA)

Mr. Papaioannou will visit the Monastery of Agios Georgios where the Patriarch of Alexandria Petros VII will officiate the vespers service.

The minister will meet tomorrow with Mr. Ammawi and will discuss bilateral labour issues.

Mr. Papaioannou is expected to return to Athens on Sunday.

Athens News Agency

[19] 'Poseidonia' maritime fair in Piraeus

Athens 23/04/1998 (ANA)

The fair will feature a broad variety of maritime equipment and services from ship repair units, telecommunication companies, as well as software programmes and services provided through electronic networks.

Participations include 18 national pavilions, the European Commission, international maritime organisations, and the US Coast Guard.

Athens News Agency

[20] No decision yet on sale of Greece's Ionian Bank - minister

Athens 23/04/1998 (ANA)

"No decision has been taken on Ionian Bank," said Mr. Papantoniou.

He was speaking after a meeting with Transport and Communications Minister Tasos Mantelis, chaired by Prime Minister Costas Simitis.

In a two-and-a-half-hour long meeting, the officials debated the economy, the government's privatisation programme and reforms to public utilities. No decisions were taken at the meeting.

Mr. Papantoniou was replying to a journalist's question on Ionian Bank following a media report claiming the bank would be sold in May.

He also said the possible sale of Commercial Bank of Greece, Ionian's parent company, was not an issue that had been raised.

However, government sources said that decisions on the sale of Ionian Bank were just a matter of time, and that the possibility of privatising Commercial Bank was also being discussed.

Replying to a reporter's question, Mr. Mantelis said that finding a strategic investor for Olympic Airways was not raised at the meeting.

He said that he would meet Mr. Papantoniou today to discuss a third flotation of Hellenic Telecommunications Organisation's equity.

Athens News Agency

[21] Opposition reactions

Athens 23/04/1998 (ANA)

He added that the government is bound by its ideological and party logic and insists that it could restructure the DEKOs with party selected and controlled managements.

The Communist Party of Greece (KKE) in its announcement stated that the government has decided to sell out the DEKO to the "big capital" and called on the workers of the DEKO to unite their efforts countrywide "to push aside the governmental executors" who support the anti-popular policy.

Athens News Agency

[22] Greek stocks edge down on profit-taking

Athens 23/04/1998 (ANA)

The general index ended 0.17 percent down at 2,623.39 points after showing gains of up to 5.0 percent early in the session, followed by losses of up to 2.5 percent.

Traders said the market needed some breathing space following its rally and predicted that share prices would soon resume their upward trend.

Trading was extremely heavy with turnover at 121 billion drachmas.

Sector indices were mixed.

Banks rose 2.93 percent, Insurance increased 3.49 percent, Investment ended 1.0 percent up, Leasing jumped 7.99 percent, Industrials fell 2.15 percent, Construction was 2.57 percent off, Miscellaneous dropped 4.06 percent and Holding plunged 6.07 percen t.

The parallel market index for small cap companies rose 1.72 percent.

Broadly, decliners led advancers by 143 to 109 with another 12 issues unchanged.

National Bank of Greece, Britannia, Sarandis, Bank of Central Greece, Singular, Ionian Bank, Karelias and Alpha Leasing scored the biggest percentage gains at the day's 8.0 percent limit up.

Bank of Piraeus, Hellas Can, Sanyo, Intrasoft, Galis, Ergodata, Selonda and Viohalco suffered the heaviest losses hitting the 8.0 percent down limit.

National Bank of Greece ended at 54,120 drachmas, Ergobank at 28,490, Alpha Credit bank at 29,995, Delta Dairy at 4,700, Titan Cement at 27,290, Intracom at 19,750 and Hellenic Telecommunications Organisation at 9, 940.

Athens News Agency

[23] Greek capital markets commission to change trading limit-sources

Athens 23/04/1998 (ANA)

Under current regulations, brokerages cannot post turnover that is more than double its equity capital plus bank letters of guarantee.

Due to the Athens bourse's surge since March 14 following a 13.8 percent devaluation of the drachma linked to its entry into the European Union's exchange rate mechanism, turnover has jumped to over 100 billion drachmas a day.

The majority of brokers have therefore been excluded from much trade after reaching the ceiling.

In yesterday's session, only four major brokerages were still able to trade in the last half hour because of the ceiling, breaching free market rules.

Heavy trade is common at the end of the session.

Athens News Agency

[24] Greece repeats policy of joining EMU in second phase

Athens 23/04/1998 (ANA)

"It would be difficult for Greece to join the first phase of EMU at the same time as countries whose economies were more developed. Such a move could damage the economy," Mr. Reppas said.

He also implied that the government expected the EU's executive Commission to uphold a commitment that Greece's EMU entry would be accomplished on terms currently in place.

Athens News Agency

[25] Greece warns against gauging economy on bourse's surge

Athens 23/04/1998 (ANA)

"The general share index's rise may be positive but the government knows that much more effort is needed to achieve targets it has set in its (European Union) convergence programme," Mr. Reppas said.

The spokesman was replying to a reporter's question on whether the government interpreted the bourse's jump as a sign the economy was doing well.

The market surged in the wake of a 13.8 percent devaluation of the drachma on March 14, which was linked to the currency's entry into the EU's exchange rate mechanism on the same day.

"Although the sharp rise in share prices could not be ignored, it should not be taken as sacrosanct," Mr. Reppas said.

At the same time, the government believed that its targets to align the economy with other EU countries would be met, he said.

Athens News Agency

[26] Greek fuel prices rise due to international market

Athens 23/04/1998 (ANA)

The new oil and petrol prices will be effective for a week, the Public Power Corporation and development ministry said in a statement.

The retail sales price of petrol will rise 1.30 drachmas per litre, heating oil 0.60 drachmas per litre, and diesel 0.40 drachmas.

Athens News Agency

[27] Greek chemicals firm starts using Russian natural gas

Athens 23/04/1998 (ANA)

The firm, VFL, will use 150 million cubic metres of natural gas annually to operate its ammonia unit.

The company aims at increasing daily production to 450 tonnes in order to boost exports to Europe and third countries.

The ammonia unit was out of operation since 1993 when natural gas supplies were cut off from the Prinos oilfield in the north.

Greek and Russian contractors are continuing their work to extend the natural gas network throughout northern Greece.

Athens News Agency

[28] Turks sentenced for immigrant smuggling

Athens 23/04/1998 (ANA)

Kurt Omer, 24, and Polat Nimer, 33 ferried the Iraqis - 53 men, 13 women and 18 children - on their 18-metre boat and put them ashore on the islet of Katagani on Sunday night.

Athens News Agency

[29] Brake fault forces Mirage to land

Athens 23/04/1998 (ANA)

The jet fighter came to a stop at the protective netting without being seriously damaged and the pilot was unhurt.

The Mirage had shortly before taken off from the same airport.

Athens News Agency

[30] Canadians still missing, priest found drowned

Athens 23/04/1998 (ANA)

A coast guard spokesman told the ANA that the body of Father Panagiotis Spagos, 35, was spotted by a patrol boat during a search and rescue operation launched after the four went missing Monday evening.

The three Canadians -- Roger Richer, 49, his br other Gerald, 39, and Alvin Guensel, 44 -- all working for the Canadian-operated TVX Hellas gold mining company, were still missing and presumed drow-ned, the spokesman said.

The search for the three was continuing, the spokesman told ANA.

Athens News Agency

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