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Athens News Agency: Daily News Bulletin in English, 98-05-09Athens News Agency: Daily News Bulletin in English Directory - Previous Article - Next ArticleFrom: The Athens News Agency at <http://www.ana.gr/>CONTENTS
[01] Moody's maintains Greece's long-term currency debt ceiling levelNEW YORK (ANA) - The Moody's international credit rating agency confirmed Thursday night that it will maintain Greece's ceiling of long-term currency debt at the current level of Baa1, while drachma-denominated Greek state securities also retained their A 2 rating.The recent devaluation of the drachma, in tandem with its incorporation to the European Exchange Rate Mechanism (ERM), is accompanied by a stronger commitment on the part of Athens to pursue the course of convergence with other European economies, the a gency said in a press release. The practical result has been the creation of a climate of confidence among stock investors, leading to a massive inflow of foreign capital in the Greek bond and securities market, Moody's notes. Shortly before the devaluation of the drachma, which had repeatedly come under pressure, the agency had said it planned to reconsider the country's credit rating on the grounds that the risk for international investors had risen. Notwithstanding the fact that the inflows of large amounts of foreign funds will certainly reduce the country's borrowing requirement, as Moody's points out, maintenance of the current ratings increases the Greek government's bargaining clout for borrowing abroad, as their downgrading would have meant higher interest rates. Such inflows, together with Greece's very high currency reserves, blunt concerns regarding its ability to meet short-term currency obligations, it says. The agency also notes that recent developments rekindle expectations that the country will participate on equal terms in Economic and Monetary Union in three year's time. The agency also expresses concern, however, that the climate of euphoria prevailing in stock and money markets due to the inflows of foreign capital in various sectors, may blunt the drive towards the essential structural reforms. It does, nevertheless , foresee an acceleration of privatisations and a restructuring of the public sector and labour relations compared to the previous two years. Moody's confirms it will not downgrade, but maintain at the current Baa1 standing the risk for the country's five largest commercial banks, namely, National, Commercial, Alpha Credit, Ergobank and Agricultural. "If inflation is kept under control and the Greek economy's entry into a recession phase is averted, it can be forecast that the banking sector will not sustain large capital losses due to the devaluation," it says. Duisenberg: - The newly appointed first president of the European Central Bank (CEB), Wim Duisenberg, told a briefing session of the European Parliament yesterday that he was satisfied by the Greek government's decision to incorporate the drachma into ERM. He said CEB would cooperate closely with the Greek government so that the drachma would be integrated into ERM2, the mechanism that will succeed the present ERM on Jan. 1, 1999. Athens News Agency[02] Greece ready for combat in EMU battle, PM saysPrime Minister Costas Simitis said yesterday that the country had taken up battle stations in order to enter the European Union's economic and monetary union, urging the public not to waste a single day in the effort."Our goals are not partisan but national," Mr. Simitis told a ceremony to launch an EU Commission exhibition on European currencies and the euro. Urging the need for structural reforms to aid integration into Europe, he said: "Practices of the past no longer fit, practices involving introversion, defensiveness, party political interests, a lack of meritocracy, dogmatism, and distortion due to group interests." Mr. Simitis said the government would have to move swiftly and decisively to secure EMU entry and warned that the country's strength was at stake, and not the fate of individual policies. The prime minister said that the government would seek development of a social protection network for citizens, especially for the under-privileged, before and after Greece's EMU entry, which is expected by 2001. Greek EU Commissioner Christos Papoutsis said that the timing of the exhibition was important, coming days after an historic decision in Brussels to launch the euro. Explaining the Commission's decision to choose Athens as the venue for the exhibition, Mr. Papoutsis said the move underlined that Greece was an integral part of European history and of the common course towards EMU. He said that the euro would boost political unification as well as the European economy, and that Greece's goal to participate in EMU in 2001 was feasible. Greek Europarliament vice president George Anastassopoulos urged the government to take initiatives to inform the Greek public on the euro. The exhibition at Zappion Hall lasts until May 28. After Athens, it will be hosted in several other European capitals. Athens News Agency[03] Inflation seen dropping to 2.5 pct in '98 - ministerThe public deficit is expected to fall to 2.4 percent of the country's gross domestic product (GDP) and consumer price inflation is seen dropping to 2.5 percent this year, National Economy Undersecretary Christos Pahtas said yesterday.Addressing a two-day conference in Thessaloniki on economic and monetary union (EMU), Mr. Pahtas said that the government expected growth to accelerate to 3.7 percent in 1998 and public investments to double by 2001 against 1996 levels. Unemployment was also expected to drop to 7.5 percent of the country's workforce by 2001. He said that despite a positive outlook, neither the government nor employees should relax their efforts to improve competitiveness and adapt the Greek economy to a new international economic environment. Mr. Pahtas said that the government's privatisation programme, including the sale or partial flotation of three state-owned banks and public utilities, would be completed early in 1999, strengthening public revenues by 0.8-0.9 percent of GDP. The privatisation process would continue in coming years after completion of a restructuring programme in other state-owned firms or banks, he added. Mr. Pahtas reaffirmed the government's intention to submit by the end of May a bill to reform the country's labour market, including measures to combat unemployment. He urged businesses, workers and financial institutions to reject old doctrines in market operations in order to ensure the country's participation in EMU. Athens News Agency[04] Greek stocks slump on blue chip profit-takingGreek equities yesterday ended sharply lower on the last trading session of the week extending two previous days of losses to more than seven percent.Traders said investors decided to take profits from their blue-chip investments in bank and industrial stocks. Analysts noted that the market's underlying trend remained positive and that investors were awaiting fresh incentives to push prices higher again. The general index closed 2.38 percent down at 2,450.16 points. Sector indices lost ground. Banks plunged 4.04 percent, Construction fell 7.58 percent, Insurance fell 3.85 percent, Investment dropped 2.35 percent, Leasing was 3.08 percent off, Industrials edged 0.72 percent down, Miscellaneous fell 1.52 percent and Holding dropped 2.90 percent. The parallel market index for small cap companies rose 0.04 percent, and the FTSE/ASE 20 index ended 2.79 percent off at 1,468.42 points. Trading was active with turnover at 89.05 billion drachmas. Broadly, decliners led advancers by 129 to 119 with another 18 issues unchanged. Aktor, Nafpaktos Mills, Radio Athina, Levenderis, Diekat, Gener and Galis scored the biggest percentage gains hitting the day's 8.0 percent limit up. Ionian Bank, Bank of Athens, Delta Dairy, Viokarpet, Attica Bank, Mouzakis, General Bank, Xiosbank and Lanakam suffered the heaviest losses at the day's 8.0 percent limit down. National Bank of Greece ended at 48,390 drachmas, Ergobank at 27,100, Alpha Credit Bank at 30,000, Delta Dairy at 4,734, Titan Cement at 23,990, Intracom at 18,900 and Hellenic Telecommunications Organisation at 8, 390. In the domestic money market, the drachma was weaker against the US dollar although it showed a 2.11 percent gain against the greenback in the week. The drachma was also firmer against the DMark, Ecu and sterling. Athens News Agency[05] State Dept. reiterates that US only recognises the Republic of CyprusWASHINGTON (ANA - T. Ellis) - The US recognises only the official government of Cyprus, US State Department spokesman James Foley reiterated yesterday in response to reactions caused by recent statements of his own and of special presidential emissary Ric hard Holbrooke."US policy has not changed, Mr. Holbrooke simply described the de facto situation which has existed on Cyprus for a long time now, and did not give the impression of any change in our excellent relations with the Republic of Cyprus, which is indeed, the only goverment we recognise, nor did he give any official weight to the Turkish Cypriot entity in the north," Mr. Foley said. He added that Mr. Holbrooke had been invited by both communities to the island to try to put a settlement process back on track, his statements regarding the situation in the country had been designed to facilitate this effort. "There is really nothing new here," he said. Athens News Agency[06] Synaspismos-sponsored meeting on Cyprus issueA delegation of the Coalition of the Left and Progress (Synaspismos) composed of deputy Mustafa Mustafa and central political committee member Tassos Trikkas is participating in a meeting on the Cyprus issue, which started in Istanbul yesterday and will b e concluded today.The meeting, entitled "Peace in Cyprus", is attended by leftwing parties from Greece, Cyprus and Turkey, at the initiative of the Turkish Freedom and Solidarity Party (ODP). Athens News Agency[07] Athens calls State Dept. criticism over alleged PKK office 'unjustified'The government yesterday rejected as "unjustified" US State Department criticism of Greece concerning Athens' alleged support for the Kurdistan Workers Party (PKK). "No accusations against Greece are justifiable," government spokesman Dimitris Re ppas said, adding however, that "we are pleased that our position was acknowledged, albeit belatedly".US State Department spokesman Lee McClenny said earlier this week that Washington was "see-king the Greek government's views" on whether or not a PKK office was being established in Greece. The government rejected the insinuations and on Thursday, US State Department spokesman Jim Foley expressed Washington's satisfaction over Greece's stance on the issue. "The Greek foreign ministry briefed our embassy in Athens that there never was, ther e is not, nor will there ever exist a PKK office in Greece... we welcome this commitment, which is in line with Greece's international commitments for countering terrorism," Mr. Foley said. Asked whether Athens viewed Mr. McClenny's remarks as interference in Greece's domestic issues, Mr. Reppas replied that every country was entitled to its own views and Washington was expressing US positions. "We have no reason to lodge a protest," Mr. Reppas added. Athens News Agency[08] Turkey unsatisfiedANKARA (ANA - A. Abatzis) - In a related development, Greece's ambassador to Ankara, Dimitris Nezeritis, who visited the Turkish foreign ministry yesterday stressed to Turkish authorities that "no delegation of the PKK exists in Greece" and that "no permi ssion will be given for such a thing."The Turkish foreign ministry issued an announcement yesterday referring to the issue and said that "we will examine to what extent the guarantee given by Greece concerning the existence of a delegation of the PKK coincides with reality." The announcement underlines that the reaction of the Greek government on this issue "is not adequate and satisfactory." It said that in order for Greece's announcements on this issue to be satisfactory, this country "must condemn the PKK as a terrorist organisation and ban the operation of every organisation linked to the PKK." The announcement also refers to an announcement made on the issue by Greek foreign ministry spokesman Costas Bikas and stresses that the Greek spokesman spoke of human rights. According to Ankara, "before criticising other countries on this issue, Greece must put an end to the policy of oppression which it is applying against the Moslem "Turkish" minority in the country, in violation of international agreements and of its obl igations and to the human rights violations which this minority is faced with." Athens News Agency[09] Events to mark 200th anniversary of Rigas Feraios' deathParliament President Apostolos Kaklamanis will be in Thessaly over the next two days to attend events marking the 200th anniversary of the murder of pre-revolutionary activist Rigas Feraios by Ottoman authorities.This morning, he will address an event at the Thessaly University in Volos in the presence of President Kostis Stephanopoulos. Tomorrow, he will be accompanying Mr. Stephanopoulos to the town of Velestino, where Rigas Feraios was born. Athens News Agency[10] Albania's Nano invites Greek businesses to investAlbanian Prime Minister Fatos Nano last night invited Greek businesses to invest in Albania, assuring them that last year's violent outbreak was over for good.Addressing an event organised by the Federation of Northern Greek Industries (SBBE) in Thessaloniki, Mr. Nano said: "I can guarantee that situations similar to last year'sIwill never arise again." Albania was gripped by violence, prompted by the collapse of fraudulent pyramid investment schemes, while crime and banditry has been rampant since military depots were plundered during the unrest. Mr. Nano said the state had restored order and was working hard to improve its economy and attract investments from abroad. Greece, Albania's second-ranking business partner after Italy, has offered its northern neighbour financial aid and help in restructuring its army and public services. "Around 200 Greek companies, representing a capital investment of almost US$100 million (now operate in Albania)"Mr. Nano said. He said the two countries were also tied by the hundreds of thousands of Albanian workers in Greece, who were offering cheap labour to the Greek market and helping their families in Albania survive. Statements on Kosovo: - During a press conference, Mr. Nano said Tirana is not worried about the possibility that a crisis in Kosovo will drag his country into political instability. He added that the reason for his statement is that his government applies a careful and moderate policy and is not alone, rather, the entire international community stands with it. Mr. Nano, commenting on the possibility of a wave of new refugees heading to Albania should the crisis worsen in Kosovo, said that there is a United Nations contingency plan to tackle the problem, so as to avert such problems in Albania. The Albania premier also indirectly said that he is against any unilateral action in Kosovo. Meeting with Petsalnikos: - Mr. Nano and Macedonia-Thrace Minister Philippos Petsalnikos discussed issues concerning cross-border cooperation and security during their meeting in Thessaloniki last night. Both men placed emphasis on problems created on the Greek-Albanian border by armed gangs smuggling drugs and weapons into Greece, as was the case in Kastoria recently with the slaying of a policeman. Mr. Nano and Mr. Petsalnikos agreed that the problem must be jointly tackled. However, efforts made to date are meeting with obstacles due to the slow rates with which the Albanian police force is being reorganised, according to reports. The issue of policing will also be discussed between Mr. Nano and Public Order Minister George Romeos today, who will arrive in Thessaloniki for this purpose. In statements after the meeting, Mr. Nano and Mr. Petsalnikos said relations between Greece and Albania are excellent. Athens News Agency[11] PASOK delegation on US tourNEW YORK (ANA - M. Georgiadou) - A ruling PASOK party delegation of government and party cadres arrived here yesterday on a five-day visit for a series of contacts with the American and Greek-American leaders, party Secretary Costas Skandalidis said. He a dded that the goal of the visit is to discuss problems with expatriates' organisations as well as political issues. The delegation also met with Archbishop of America Spyridon, while their agenda includes a brief visit to Washington.In statements after the meeting, Spyridon said they discussed Greek national issues, Greek-Americans' contribution to informing US officials on Greece's positions and educational issues. Mr. Skandalidis said that he assured the Archbishop "that we stand by him in all his initiatives for Orthodoxy." Foreign Undersecretary Yiannos Kranidiotis referred to Spyridon's "special role for Hellenism, Orthodoxy and the promotion of Greece's national issues." Athens News Agency[12] Greece extends condolences over mudslide deathsPresident Kostis Stephanopoulos yesterday sent a telegram of condolences on behalf of the Greek people to his Italian counterpart Oscar Luigi Scalfaro following the dea-ths of at least 81 people in mudslides in the south of the country. "The great disaster which had befallen your country, resulting in so much loss of human life and material damage, has caused great pain in Greece," the telegram said. The Italian government has declared a state of emergency in three provinces in the wake of the t ragedy, one of Italy's worst natural disasters in years. Over 100 people were still reported missing in the mudslides caused by days of torrential rain.Athens News Agency[13] Christodoulos makes customary pledge before President StephanopoulosNew Archbishop of Athens and All Greece Christodoulos, accompanied by Education and Religious Affairs Minister Gerasimos Arsenis, yesterday met with President of the Republic Kostis Stephanopoulos at the Presidential Mansion.The Archbishop pledged, as it is customary in the presence of the President, to uphold his ecclesiastical duties and observe the Constitution as well as the laws of the state, during a special ceremony. The ceremony took place before members of the permanent Holy Synod of the Orthodox Church of Greece and other Church officials. After the ceremony, Mr. Stephanopoulos congratulated Christodoulos for his election as the head of the Orthodox Church of Greece. Answering press questions after the ceremony regarding Mr. Stephanopoulos' planned absence from the Archbishop's enthronment today, the Holy Synod's spokesman, Bishop Maximos, said that it was already known before the Archbishop's election that Mr. Step hanopoulos had a prior engagement in Volos, where he will participate at the "Rigas Velestinlis" commemorative events. Athens News Agency[14] Logothetis lawyer files for prison releaseThe lawyers of Piraeus Mayor Stelios Logothetis yesterday filed an application for his release from prison pending trial for seven offences including alleged embezzlement of one billion drachmas from muncipality funds. Mr. Logothetis was remanded in cu stody on Wednesday following the decision of the public prosecutor and investigating magistrate in the case. The reasoning for the decision was that there was a probability the mayor would commit further offences.In his four-page application to the Council of Misdemeanours' Courts of Piraeus, Mr. Logothetis invokes the fact that he has been mayor for 20 years, that he has four children and that on the seven occasions he has been tried in the past, he was on each occasion acquitted. Mr. Logothetis stressed also that he had the full support of the people of Piraeus, irrespective of political affiliations. The decision of the three-member council is expected to be announced in the next few days. Commenting later on the decision to remand Mr. Logothetis in custody, the main opposition New Democracy (ND) said that "the entire procedure followed is suspect and indicates the government's intention to promote its own candidate for the Piraeus municipality in local elections (in October)". Spokesman Aris Spiliotopoulos said ND condemned the procedure because it was detrimental to both the institution of mayor and public opinion in Piraeus. Athens News Agency[15] Teachers' protestMore than 1,500 teachers and unappointed educators rallied yesterday evening in downtown Athens against the government's policies on education.The rally was organised in protest to a new education law, prescribing changes both in appointment practices and teaching materials. Teachers' groups have already planned another rally on May 14. Athens News Agency[16] Another quake hits CreteAn earthquake measuring 4.6 on the Richter scale rocked the Lassithi region on the island of Crete early yesterday, but no damage or injuries were reported.The earthquake, which was felt throughout eastern Crete, was recorded by the Athens Geodynamical Institute at 6:38 a.m., with its epicentre in the Aghios Nikolaos Gulf, from where earthquakes of 4.5, 5.0 and 4.8 Richter originated three days ago. Seismologists said they had some concerns about the resurgence of seismic activity in the area as the latest tremor had come less than 48 hours after a tremor registering 5.0, but added that yesterday's quake was "nothing special". Athens News Agency[17] Balkan water-sewer utilities decide to create cooperation networkRepresentatives attending the two-day conference "Water and Environment", which concluded yesterday in Thessaloniki, decided to create a Balkan communication and cooperation network connecting agencies of the region.The conference, organised by the Thessaloniki Sewer Authority, also decided that agencies of the region will appoint a representative to a newly created council, while representatives will meet soon to discuss the details and structure of the network. Athens News Agency[18] Police nab illegal immigrants and pirate CDsDrama police yesterday arrested three Bulgarian illegal immigrants and seized 2,840 pirate CDs of foreign singers and groups after a car chase in a mountainous region of the northern Greek prefecture.Also arrested were two Greeks - Charalambos Lazaridis, 25 and Costas Lavasas, 22 - for transporting the Bulgarians in a rented car. Apart from the CDs, police also found in the car CD labels and 1,700 dollars which the three Bulgarians had reportedly paid the two Greeks for transporting them. A search of the house of one of the Greeks revealed 45 cartons of contraband cigarettes. Athens News Agency[19] Premier reiterates commitment to continue policyPrime Minister Costas Simitis told a Cabinet meeting that he is determined to proceed with his policy and continue the same course, government spokesman Dimitris Reppas stressed yesterday during a regular press briefing.Mr. Reppas said the premier stressed that the government will not discontinue its policy and must continue its efforts, underlining that no slackening is justified despite recent positive developments. The prime minister called on the members of the government to begin tours in rural areas in order to brief citizens on the Economic and Monetary Union (EMU) and the euro. Mr. Reppas added that Mr. Simitis also requested daily tours by inter- ministerial committees until July 15 to provide solutions to local problems. The Cabinet meeting discussed issues concerning the merchant marine ministry and a decision was taken to establish a unified agency to control foodstuffs and beverages. Athens News Agency[20] ND says Greece now outside EU's nucleusThe main opposition New Democracy party's political planning and programming secretariat strongly criticised Prime Minister Costas Simitis and the government yesterday on the occasion of the premier's interview on Thursday, stressing that Greece now lies outside the European Union's new nucleus.An announcement stated that Greece "now lies outside the new core nucleus of the European Union, an achievement it made in the past thanks to the historic initiative of Constantine Karamanlis. "Before this gloomy reality, the Simitis government is attempting to deceive the Greek people and to conceal its grave responsibilities over the blatant failure of convergence programmes, which is due to its timidness and lack of boldness..." it added. Athens News Agency[21] Mantelis' political office the latest target of firebombersA home-made incendiary device employing gasoline and several small gas cannisters exploded late yesterday afternoon at the sixth-floor political office P 39, Stournari St.in downtown Athens P of Transport and Communication Minister Tassos Mantelis.No one had claimed responsibility for the attack by presstime, which caused a fire that was immediately extinguished. Police believe the attack is the work of the "Arsonists of Conscience" group, which has over the past few months assumed responsibility for similar explosions at the political offices of Labour Minister Miltiades Papaioannou, Labour Undersecretary Chris tos Protopapas, former minister and Development Minister Vasso Papandreou. Main opposition New Democracy party , Coalition of the Left party , Democratic Social Movement party, and Political Spring party in statements last night condemned the attack. Athens News Agency[22] Fayum portraits highlight of Cretan exhibitionThe municipality of Iraklion is putting the final touches to a unique exhibition that will showcase the art of the Early Christian period, including the rare and haunting Fayum portraits. The exhibits will be displayed in the basilica of the Aghi os Markos church in the Cretan city and will include mummies, funerary portraits - including a number of those found at the oasis of Fayum - death masks, Coptic textiles and icons.The exhibition is called "From the Fayum Portraits to the beginning of Byzantine icon art" and covers the period from the time of Christ to the 7th century A.D. The items on show come from Greece's Benaki Museum, the British Museum, London's Petrie Museum, Ukraine's Museum of Eastern and Western Art and private collections from Greece and abroad. The public will be able to view the exhibition as of May 21, the day after the official opening. The exhibition will be on display in Crete for a month before it travels to the Benaki Museum in Athens, and the Museum of Byzantine Civilisation in Thessal oniki. A number of experts and distinguished figures from the arts world from Greece and abroad will also be in Iraklion to participate in a three-day conference on aspects of Coptic and Early Christian Art and the Fayum portraits. Athens News Agency[23] Gov't, parties collide over 'scratch-off' lottery tenderingThe government clashed with opposition parties yesterday in Parliament over the procedures adopted in the selection of the firm that will manage the instant lottery "scratch-off games".Parliament debated a question submitted by seven main opposition New Democracy deputies, calling for an international tender to select a new concessionaire, adding that maintenance of the same firm, the Intralot company, would be detrimental to the publ ic interest. Finance Undersecretary George Drys announced that renegotiation with Intralot had been concluded successfully, and slammed the seven deputies' argument that the government had failed to properly implement the initial five-year contract concluded by its predecessor of the New Democracy party, therefore, resulting in intransparent practices. "You should attribute responsibility to those who signed the current contract and not to those who tried to protect the rights of the players and the state," he said. He announced that the new revised contract, which would be signed at the end of the month, included provisions for the installation by the contractor of electronic equipment validating all tickets throughout the country and a progressive increase in th e percentage of proceeds alloted to the state up to 50 percent, depending on turnover. Meanwhile, government spokesman Dimitris Reppas described as "unfounded" reports by the Athens daily "Eleftherotypia" that the current system was without adequate checks and did not rule out suspect practices. Athens News Agency[24] Croatian business delegation in AthensA Croatian business delegation under the auspices of the Zagreb Chamber of Commerce will arrive in Athens on May 13 for a three-day visit at the invitation of the Athens Chamber of Commerce and Industry (EBEA).An EBEA delegation visited Croatia last June and signed a cooperation agreement, while this is the first visit of a Croatian business delegation to Greece. The 10 members represent the food processing, soft drinks, timber, textile, metal manufacturing, commuter, telecommunication and construction sectors. Athens News Agency[25] Athens bourse posts new records, sees profit-taking in weekThe Athens Stock Exchange hit a new record this week but then succumbed to profit-taking as the market showed signs of fatigue, awaiting fresh incentives to rise, analysts said yesterday.The general index rose to a new record of 2,634.54 points on Tuesday but then declined steadily to show a 6.53 percent loss in the week. Traders said the market did not react to a government decision on the method of sale for state-owned Ionian Bank, a subsidiary of Commercial Bank, a move already discounted by the market. Construction shares ended 4.17 percent up in the week, while Holding stocks suffered the heaviest losses at 12.40 percent. Trading was active throughout the week. Total turnover was 409.503 billion drachmas to reach a daily average of 81.9 billion drachmas, down from 131.9 billion the previous week. Athens News Agency[26] Cabinet endorses SA status for key portsThe cabinet yesterday approved a proposal to turn the authorities of key ports into SA companies, Merchant Marine Minister Stavros Soumakis told reporters."(This is) so we can have ports that are competitive ... After today's decision we can go ahead with the move," Mr. Soumakis said. The cabinet for the first time covered the merchant marine sector, including passenger and cargo shipping, competitiveness and protecting the Greek flag. "The fact that the ministry's issues were discussed at a cabinet session for the first time shows the interest of the prime minister and the government," Mr. Soumakis said. The cabinet endorsed the recruitment of 500 coastguard personnel and purchase of 52 new swift, high-technology vessels. Ten of the craft will be lifeboats, two environmental protection vessels and the remainder patrol boats. All-weather helicopters would be purchased following a recommendation from the state audit council, expected in the near future. Replying to a reporter's question, Mr. Soumakis said he would appoint a successor to the former president of Piraeus Port Authority, who resigned following disputes with the minister. The appointment was not under the cabinet's jurisdiction, Mr. Soumakis said. Athens News Agency[27] Thessaloniki airport closes May 8-12 for maintenanceThessaloniki's Macedonia International Airport closed yesterday for five days of maintenance with all domestic and international flights being re- routed to nearby Kavala airport.An airport spokesman said yesterday that the hundreds of passengers destined for Thessaloniki were served by Alexander the Great airport in Kavala, and transported to Kavala by coach. Macedonia Airport reopens on May 12 at 6:00 a.m. The maintenance work includes installation of an anti-skid tarmac for the airport's runways. Athens News Agency[28] Commercial Bank of Greece to manage Ionian until share saleState-owned Commercial Bank of Greece will undertake the management of Ionian Bank until a majority stake in Ionian, its subsidiary, is sold through the Athens Stock Exchange, government spokesman Dimitris Reppas said yesterday.The government has decided to sell Ionian Bank rather than merge it with Commercial Bank, which holds a 62 percent stake, in order to save around 3, 500 jobs, Mr. Reppas said. Opposition to the move was unjustified as smaller banks would find it hard to survive in growing competition, he said. Workers at Ionian Bank staged a 24-hour strike yesterday to protest against the move, and all banks will strike for 24 hours on Monday. The sale plan will need approval from Commercial Bank's shareholders, who are due to meet in June. After the meeting, the sale process and a timescale will be announced. Athens News Agency[29] Northern town to host trade fair in JuneThe northern town of Drama will host a trade fair on June 17-22 in which Bulgarian firms are expected to take part.The fair, organised by local authorities, will display goods by production and commercial enterprises. Athens News Agency[30] International shipping fair opens in Piraeus June 1A record 71 countries will be represented at Posidonia '98, a biennial international shipping fair held in Piraeus. The June 1-5 exhibition, at the Piraeus Port Authority's waterfront exhibition centre at Akti Miaouli, will feature 1,500 exhibitors.Their products and services, some of them new, are designed to make shipping safe, efficient and environmentally aware. The exhibition will reflect the increasing computerisation of ships with 75 companies specialising in the use of software applications and computer consultancy taking part. The shipping fair is sponsored by the Merchant Marine Ministry, municipality of Piraeus, Hellenic Chamber of Shipping, and shipowners' unions of Greece. In its 30-year history, Posidonia has come to be seen as a reliable barometer of technological pro gress in the maritime sector. Athens News Agency[31] Greek management association offers trainingThe Greek Management Society is offering a postgraduate-level course to company personnel in order to prepare them for positions of greater responsibilty in general management.Eligible are staff aged 28-42 who hold a degree and have three years of professional experience. The course begins on May 25. Athens News AgencyAthens News Agency: Daily News Bulletin in English Directory - Previous Article - Next Article |
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