Athens News Agency: Daily News Bulletin in English, 98-05-21

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

CONTENTS

[01] Simitis calls on industrialists to share burden for EMU entry

[02] EU welcomes drop in Greek deficit, endorses project funds

[03] Tsohatzopoulos: WEU called on to fill Europe's security vacuum

[04] G. Papandreou also dismisses notion of 'package solutions'

[05] Joint Greece, Cyprus military exercise

[06] EU-Turkey Association Council expected to convene with common position by '14'

[07] Greek ambassador visits Virtue Party leader Kutan

[08] First vote in Parliament on Constitutional reform

[09] Pangalos satisfied with first part of State Dept. clarification

[10] KKE to host int'l conference of communist parties in Athens

[11] Russian consulate in Irakleio

[12] Alexander the Great's burial site the subject of Veroia conference

[13] Event on Chinese civilisation

[14] White House spokesman pleads ignorance on 'package solution' for Cyprus, Aegean

[15] Commission announcement on social dialogue at the EU level

[16] Study on Greek book market released

[17] Advertising in the Daily Bulletin

[18] ITEP study cites direct link between tourism infrastructure, per capita income

[19] Diplomat cites significant decrease of Greek businesses in Bulgaria

[20] Romeos: Crime increase related to illegals, but not at 'epidemic proportions'

[21] Greece to introduce rules on ethics, eligibility for digital TV

[22] Political Spring wants open digital TV market

[23] Greek stocks jump on buying spree in banks

[24] Greece vows to sell Ionian Bank despite breakdown in strike talks

[25] Nationwide stoppage disrupts transport in north

[26] Xiosbank opens new branch in north

[27] Businesses to subsidise Greek chambers in Egypt

[28] Greece's ATE Leasing reports rise in Q1 contracts

[29] Bulgaria expected to take part in northern trade fair

[01] Simitis calls on industrialists to share burden for EMU entry

Athens 21/05/1998 (ANA)

"Your responsibilities for progress in the economy are now greater than ever. Whether Greece will be able to play a more important role depends on you," Prime Minister Costas Simitis said in his address at the annual general assembly of the Federation of Greek Industries (SEB), held at a downtown Athens hotel.

He urged their attention on three crucial targets: to act responsibly as regards prices, so inflation may fall to 2 per cent by the end of 1999; maintain and increase employment, and finally, to boost the productivity and competitiveness of their firms.

Mr. Simitis stressed that "the government is resolved to secure Greece's participation in the historic change of the euro, planning its action programme on a four-year basis and with a view to displaying the benefits to the Greek people at the end of its term."

National Economy Minister Yiannos Papantoniou, in his address, called for more dynamic initiatives, more investment and mergers or strategic alliances.

"The private sector has an important responsibility for the course of the economy and convergence, and must assume it, participating more actively in the commoon effort," he said.

The minister stressed that the main weight of the effort concerned meeting what he called "the deficit in competitiveness," and called on businesspeople to show "great restraint in adjusting prices, trimming profit margins when necessary".

Mr. Papantoniou praised the "sense of responsibility which prevailed in the reaching of a new national collective labour agreement with the unions (signed on Monday), which creates conditions for a steady and speedy de- escalation of inflation".

He assured SEB's members that the government's announcements regarding the restructuring of the public sector would be consistently adhered to, describing plans as "a particularly difficult endeavour" in the "most crucial conjuncture" in the country's political history.

"But we must complete it," he stressed.

Papadimos : SEB's meeting was also addressed by Bank of Greece Governor Lucas Papadimos, who also asked contribution by all, including the government, businesses and employees, in order to boost economic competitiveness, and not to miss out on benefits resulting from the recent drachma devaluation, making the country's EMU participation a reality.

Mr. Papadimos asked businesses to adopt a "moderate price policy", in order to contain pressure on the inflation rate and safeguard competitiveness.

Re-elected SEB board president Andreas Kanellopoulos stressed that investment in the industrial sector was growing faster than in any other sector, with one-fourth of all private investments in the Greece taking occurring in industry, mainly targetting at modernisation.

Despite intense competition that will accompany EMU, said Mr. Kanellopoulos, Greek industry can cope with the emerging situation, insofar that restructuring is sped up and state disincentives are lifted.

"In a short period we would have to make changes which should have been made long ago", he observed.

He noted the necessity for a broader consensus of political and social forces regarding the sacrifices on the part of "guild" interests, which are required on the road to joining EMU.

"No other realistic option has been put forward by any side," he said.

"Greek society, which in opinion polls appears as the most ardent supporter of European unification, often refuses to assume the obligations which this option implies," he said.

Also re-elected executive committee president Iason Stratos stressed "we are still far from the ultimate target", while asking for an unobstructed observance of the economy's adjustment policies.

"Adjustment required big and daring changes, which were not made owing mainly to their political repercussions," he said.

The gradual approach selected, according to Mr. Stratos, had failed, as the country missed out on being in the first group of EU countries to join EMU. Furthermore, he said tax rates should be substantially lowered for all (businesses and individuals), opposing any future increase and favouring not simply the implementation of the government's privatisation policy, but its extension.

Mr. Stratos called for a realistic "immediate action programme", with a strict timetable and clear methods, that will cover all structural changes in the next few months.

He urged the government to show resoluteness, in a way that will leave no doubt to anyone, proceeding to "much more substantive and direct privatisations, " and "more radical solutions in all public utilities which are being privatised" - relinquishing the majority stakes held by the state.

The German industrialists' president Dr. Hans-Olaf Henkel, a guest of SEB, urged intensification of efforts for a restructuring of the public sector.

"We want Greece to become a member of EMU fast, and for this reason it must be fully serious in its efforts for restructuring the public sector and speeding up privatisations," he said.

He warned that the introduction of the euro would bring strong competition for Greece, stressing that more than 50 per cent of the Greek economy was in the hands of the state - more than in Poland or Hungary.

He also described Greece as "a key-country" in southern Europe, and "an important partner in Europe".

New Democracy : Commenting on the prime minister's address, main opposition spokesman Aris Spiliotopoulos said he had tried to present his government's "blatant failures as successes."

"Mr. Simitis appears unable to realise yet that the private businesspeople does not need admonitions in order to invest his profits, but the right climate and environment. He wants healthy competition, stable tax regime, a modern and effective state-sup ervisor. These are impossible for the Simitis government," he said.

Karamanlis: National economic policy 'shipwrecked' : On his part, main opposition New Democracy (ND) leader Kostas Karamanlis cautioned yesterday that the government's economic policy will lead to failure.

Arriving at the Federation of Greek Industries' (SEB) annual general assembly, Mr. Karamanlis said the drachma's devaluation is proof that national policy is "ship-wrecked".

Furthermore, he added Greece is the only EU member-state to remain out of the EMU against its stated will.

Independent deputy and former ND minister George Souflias said that the government must set aside fears of political cost and should forge ahead with courageous reforms.

Finally, independent deputy Stephanos Manos stated that "the total picture shows that it is very difficult if not impossible to achieve (Maastricht) targets and enter EMU by the year 2001."

Athens Newss Agency

[02] EU welcomes drop in Greek deficit, endorses project funds

Athens 21/05/1998 (ANA)

In a letter released yesterday by National Economy and Finance Minister Yiannos Papantoniou, the Commission welcomed a drop in 1997's general government deficit to 4.0 percent of gross domestic product from 7.5 percent a year earlier.

The funds mentioned in the letter, which was sent on May 4, are from the EU's Cohesion Fund.

"The Commission wishes to congratulate the Greek government on these results. It will continue to endorse new projects, or the stages involved in step-by-step projects," the Commission said in the letter.

The national economy ministry also released a deficit-curbing recommendation from the EU's economy and finance ministers who met on May 2 ahead of a summit that launched the euro, the EU's single currency.

Greece, as the government expected, was not among countries to join the first wave due to improvements still needed in the economy.

It hopes to join economic and monetary union (EMU) by January 1, 2001.

The recommendation said: "(Greece) is urged to fully implement the fiscal measures it has instituted, and, if necessary, to take additional measures to achieve the target (of 2.4 percent of GDP in 1998) for the fiscal deficit."

It also suggested that the government should try to curb the fiscal deficit to below 2.1 percent of GDP in 1999.

Acknowledging progress already made, the EU called on the government to reduce the fiscal deficit as soon as possible in order to gain EMU entry.

It also urged implementation of measures the government announced to shrink the public sector when the drachma joined the EU's exchange rate mechanism on March 14 in order to ease EMU entry.

Other measures the EU said were needed were a widening of the tax base; cuts in public spending; bold privatisation; restructuring of major state enterprises; reform of the labour and social insurance systems; and adherence to 1998 incomes policy.

Athens News Agency

[03] Tsohatzopoulos: WEU called on to fill Europe's security vacuum

PARIS 21/05/1998 (ANA - M.Spinthourakis)

Mr. Tsohatzopoulos was speaking on the achievements of Greece's six-month presidency of the WEU.

Greece's post as president ends in June.

The WEU must develop on two levels, Mr. Tsohatzopoulos said. One must move in the direction of it becoming the European pole for NATO and the other must move towards developing into the defence arm of the European Union. The course towards economic and monetary union must run tandem to political union because economic power without the security of a high-level of security is moot, Mr. Tsohatzopoulos said.

The WEU must capitalise on NATO's infrastructure to ensure it operates appropriately, the defence minister said. For this reason, the Greek presidency pursued and promoted cooperation with NATO, firm in the belief that this would bolster Europe's defence capability of the WEU by providing complementary resources and facilities for those crisis management and peace-keeping missions the European Union would assign to the WEU.

"A conflict between the Atlantic and Europe is a false dilemma resolved by the simultaneous development and cooperation between the WEU and NATO," Mr. Tsohatzopoulos said.

The defence vacuum created in the wake of the collapse of Communism is most acute in the Balkan peninsula, Mr. Tsohatzopoulos said. "There it has taken on the form of successive crises in the former Yugoslavia, Albania and now Kosovo . "The case of Albania forced us to realise the need for the existence of an appropriate European security mechanism which could act quickly and effectively to deal with such situations and prevent an escalation," Mr. Tsohatzopoulos said. "It was during the Albanian case that the WEU failed to offer an immediate and credible response, although it was a unique opportunity for it to act."

Mr. Tsohatzopoulos said there were three conditions that had to be met if the WEU were to play the role of a European defence mechanism: the forging of a joint European defence policy as an integral element of joint EU foreign and security policy; the d evelopment of operational capability to give the EU a security dimension and the ability to act; and the development of a joint European policy on armaments to merge national programmes with European procurements programmes so that all countries would be able to participate on an equal basis.

"The major issue is whether there is the political will to create a real joint foreign and security policy in the European Union," Mr. Tsohatzopoulos said.

He said that at this month's meeting of WEU defence and foreign ministers on Rhodes, he had noted the need for the existence of a joint defence policy which would combine separate national goals into joint strategies and targets. de Puig : "The Greek presidency contributed decisively to developing the WEU and to the creation of the right bases for the development of the organisation's operational abilities while Greece's pragmatism in dealing with the issue of relations between the WEU and NATO resulted in upgraded and improved relations," Manuel de Puig, the president of the assembly said. Mr. de Puig also warmly praised Mr. Tsohatzopoulos on the "parti-cularly positive role" he had personally played during the Greek six-month presidency.

Cyprus issue : Responding to WEU deputies' questions on the problem in Cyprus, Mr. Tsohatzopoulos said that Cyprus' accession to the European Union would create greater security for both the Turkish Cypriot and Greek Cypriot communities and foster a resolution of the di vision of the island republic.

"Unfortunately, the Turkish side's response to date does not indicate such a resolution," he said, adding that a demand by Turkish Cypriot leader Rauf Denktash for the recognition of his regime was not acceptable.

He added that the demilitarisation of Cyprus would be a "step in the right direction" but that there were indications that the occupying forces on the island were headed in the other direction.

"The Cyprus issue is an international problem, the problem of the occupation of a country by a foreign military power. The resolution of the problem must come from international organisations and from their activity, " he said.

Athens News Agency

[04] G. Papandreou also dismisses notion of 'package solutions'

Athens 21/05/1998 (ANA)

"Turkey's provocations and whatever claims in the Aegean, and the Cyprus problem, which is not a Greek-Turkish issue, are two different matters," Mr. Papandreou told reporters after a 45-minute meeting with Prime Minister Costas Simitis.

"The Cyprus problem is an international issue, an issue of the international community," Mr. Papandreou added.

Mr. Papandreou also said that a US State Department clarification Tuesday that it did not propose a 'package solution' to Greek-Turkish relations and the Cyprus issue "had been necessary".

State Department spokesman James Rubin said yesterday that "...the US is not proposing a new set of negotiations or any other approach that would link these issues in some sort of package deal".

The Papandreou-Simitis meeting focused on preparations for the EU summit in Cardiff on June 15-16.

Government spokesman Dimitris Reppas said later that the US State Department's clarifications on the Clinton statements had enabled "the lifting of any misinterpretations that arose regarding the US government's positions on Greek-Turkish differences."

Athens News Agency

[05] Joint Greece, Cyprus military exercise

Athens 21/05/1998 (ANA)

According to reports, two Hellenic Navy frigates and support vessels as well as Hellenic Air Force planes were taking part in manoeuvres, being held within the framework of the Greece-Cyprus joint defence doctrine.

The exercises aimed at training the island republic's air defence units, sources added.

In addition, four Hellenic Air Force F-16 fighters flew over the recently completed Paphos airbase yesterday, carrying out mock strikes against land targets, before returning to their base in Greece.

Athens News Agency

[06] EU-Turkey Association Council expected to convene with common position by '14'

BRUSSELS 21/05/1998 (ANA - P. Pantelis)

This was the conclusion reached during yesterday's discussion at the Committee of Permanent Representatives (COREPER).

Ankara, which has not yet decided what its final position will be, is expected to approve the position of the "14".

The Association Council issue was promoted by Britain, currently holding the EU's rotating presidency, which during the COREPER meeting delivered a joint communique by British Foreign Secretary Robin Cook and his Turkish counterpart Ismail Cem.

COREPER representatives found the declaration positive in terms of Turkey's relations with the Union, while Greece requested that joint positions by the "15" include Paragraph 35 from the final text of the Luxembourg summit last December, stating that relations between Turkey and the Union depended on a settlement of Greek-Turkish differences at the International Court at The Hague, a solution of the Cyprus problem and improvement in Turkey's human rights record.

Athens News Agency

[07] Greek ambassador visits Virtue Party leader Kutan

ANKARA 21/05/1998 (ANA - A.Abatzis)

Mr. Nezeritis stressed during the visit that there was no particular purpose for the visit, adding: "We also visited the Virtue Party just like all the parties."

On his part, Mr. Kutan expressed his belief that the problems "will be resolved with dialogue." He added that "the two countries, having a coastline on the Aegean, must have a dialogue between them, as suits two close neighbours."

Mr. Kutan assumed the leadership of the Virtue Party, the apparent successor to Necmettin Erbakan's outlawed Welfare Party, several days ago.

Athens News Agency

[08] First vote in Parliament on Constitutional reform

Athens 21/05/1998 (ANA)

Out of the main clauses, the one on the election of the president of the republic was considered eligible for change, with 165 votes to 118 and one vote listed as present. The clause subject to change anticipates the separation of the election of the president from the dissolution of Parliament with 180 votes.

The proposal for a change in the religious oath taken by Parlimentary deputies and members of the government was rejected with 258 votes against, 23 in favour and three present votes.

Finally, a proposal by the main opposition New Democracy party for the establishment of universities not run by the state was rejected with 155 against, 120 in favour and nine present votes.

Athens News Agency

[09] Pangalos satisfied with first part of State Dept. clarification

Athens 21/05/1998 (ANA)

He added that Greece's interlocutors should be pursuaded that there are no interests involved, and that there are two sides: one that acts in accordance with legality, and another violating the rules.

It is this latter side that should conform with international legality, he said.

Mr. Pangalos was speaking after an hour-long meeting with new Archbishop of Athens and All Greece Christodoulos yesterday, during which he briefed the church leader on the latest developments with regard to national issues.

"The foreign ministry", added Mr. Pangalos, "believes that the Church has a great mission to carry out and can play a creative role".

Athens News Agency

[10] KKE to host int'l conference of communist parties in Athens

Athens 21/05/1998 (ANA)

The meeting will focus on the better coordination and development of common action, aimed at "processing a common strategy against imperialism," according to a KKE announcement

Orestis Kolozov, a member of KKE's political bureau and the party's Parliamentary representative, said yesterday that the meeting is taking place on the occasion of the 80th anniversary of the founding of KKE and the 150th anniversary of the publication of the Communist Manifesto.

Mr. Kolozov said a wide exchange of views will take place during the three- day meeting on the major contemporary problems faced by the working class.

The agenda includes developments in the European Union, the role of the West European Union and NATO and the role played by various organisations such as the International Monetary Fund and the World Bank.

Athens News Agency

[11] Russian consulate in Irakleio

Athens 21/05/1998 (ANA)

The new consulate will cover Crete, while Nikos Daskalantonakis will act as the honorary consul. He accompanied Ms Matvienko on her visit to the mayor's office.

Ms Matvienko was due to attend the inauguration of the Fayum exhibition at the Agios Markos Basilisa last night. She will also participate in events commemorating the Battle of Crete.

Athens News Agency

[12] Alexander the Great's burial site the subject of Veroia conference

Athens 21/05/1998 (ANA)

The two archaeologists, professors Fawzi El Fakharani and Mahmud El Saadani, have carried out extensive research on the subject. They differ on whether Alexander's tomb is located in the royal Ptolemaic necropolis or in the area of the Roman-era theatre, where the city's ancient centre had been located.

Parliament President Apostolos Kaklamanis will open the conference, while Thessaloniki University professor and PASOK deputy Dimitris Pantermalis will deliver the opening address.

The conference, attended by 29 archaeologists from Europe, the Middle East and Asia, will be presented with research data on the ancient conqueror's presence in the East, based on findings from Hellenistic colonies that are maintained to this day, inclu ding Ai Khanoum in central Asia and other ancient sites in Pakistan, Libya, Gaza and Israel.

Athens News Agency

[13] Event on Chinese civilisation

Athens 21/05/1998 (ANA)

The charge d' affaires of the People's Republic of China's embassy in Athens also attended the event.

Athens News Agency

[14] White House spokesman pleads ignorance on 'package solution' for Cyprus, Aegean

WASHINGTON 21/05/1998 (ANA - T. Ellis)

Further, he noted that during their recent meeting in London, President Clinton and British Prime Minister Tony Blair discussed the situation on Cyprus, both on a bilateral and US-EU summit context.

Athens News Agency

[15] Commission announcement on social dialogue at the EU level

BRUSSELS 21/05/1998 (ANA)

The announcement also focused on key-actions in sectors such as communications, consultations between employees and employers as well as labour negotiations, which will target better cooperation.

The announcement was the result of consultations which began in 1996 for the promotion of the idea and development of social dialogue in Europe.

Athens News Agency

[16] Study on Greek book market released

Athens 21/05/1998 (ANA)

The study noted that 42 per cent of the books published in Greece are literature related, compared to 1 per cent in Europe, while 39 per cent of Greeks read only one book a year.

Another interesting statistic of the study notes that of the 2,000 bookstores in Greece only about 11.4 per cent are dedicated to book sales, while the rest double stationary stores.

Athens News Agency

[17] Advertising in the Daily Bulletin

Athens 21/05/1998 (ANA)

Advertisements will be accepted from embassies, banks, commercial and maritime companies, chambers of commerce, advertising companies, airlines, organisations, professional associations, educational and research institutions in Greece and abroad as well as international bodies.

Also, for a small fee, the above groups may channel their Press Releases (PRs), announcements or photographs - in Greek, English or French - to the ANA's more than 100 media subscribers throughout Greece and Cyprus via the recently introduced ANA on-line PR's service.

For details on and arrangements for the advertising and/or PRs on-line service, please contact the ANA Marketing Department, tel: 6400580, fax: 6400024 between 10:00 a.m. and 2:30 p.m.

Athens News Agency

[18] ITEP study cites direct link between tourism infrastructure, per capita income

Athens 21/05/1998 (ANA)

According to the study, for every percentage point increase in tourism infrastructure there is a related 0.042 to 0.095 per cent increase of per capita income and a population increase of 0.01 per cent in any given prefecture.

Furthermore, the study revealed that for every 0.001 increase in hotel capacity there is a 0.01 increase in population in any given area.

Finally, the study recorded 360,000 employees in the sector or 10 per cent of the country's total work force, while it accounts for 8 per cent of the gross national product.

Athens News Agency

[19] Diplomat cites significant decrease of Greek businesses in Bulgaria

Athens 21/05/1998 (ANA)

Conversely, Turkish investors, exploiting special incentives and subsidies provided by Ankara, have succeeded in doubling the level of investments in Bulgaria over the past four months, according to data provided in Thessaloniki yesterday by Bulgarian general consul Ilko Sivachev on the occasion of the inauguration of a new consular building.

He said the main reason why Greek businesses abandoned Bulgaria was the fact that most tried to take advantage of the change in the regime and make quick and easy profits without creating long-term investment prospects.

Referring to the problem with the granting of visas created by the Schengen Treaty, Mr. Sivachev said that this issue is creating problems for trade transactions as well as for tourism.

"Thousands of Bulgarians want to visit Greece in the summer, but unfortunately, this is difficult," he said.

Athens News Agency

[20] Romeos: Crime increase related to illegals, but not at 'epidemic proportions'

Athens 21/05/1998 (ANA)

"There is a problem with criminal activity by illegal immigrants but not to the extent that New Democracy says," he said.

Mr. Romeos was responding to charges that up to 1,000 Albanian illegal immigrants cross into Greece daily and that more than 10,000 former inmates of Albanian jails were in Greece.

"Albanians enter and leave the country whenever they please...take them to detention centres; and there are always isolated islands," ND deputy Apostolos Andreoulakos said.

The 1998 International Exhibition of Travel, Incentives, Business Tourism and Conferences (EIBIM) marked the first joint effort of 15 private sector firms, Olympic Airways and the Greek National Tourism Organisation (EOT).

Athens News Agency

[21] Greece to introduce rules on ethics, eligibility for digital TV

Athens 21/05/1998 (ANA)

"Greece is leading in this sector as many European countries have yet to decide on the legislative framework they will apply," Mr. Reppas told journalists.

The inner cabinet will decide on the guidelines for a legal framework at a meeting tomorrow, and produce a bill in June that will probably be debated in parliament's summer session, he said.

Mr. Reppas was speaking after a meeting chaired by Prime Minister Costas Simitis to work out the legal framework for digital, satellite and subscriber TV.

The meeting was attended by Communications Minister Tasos Mantelis, the premier's legal adviser and Mr. Reppas himself, as press and media minister.

The government will then discuss its broadcasting bill with political parties and other groups in order to ensure transparency, Mr. Reppas said.

The opposition has charged the government with slowness and a lack of transparency over the introduction of digital TV.

And the owners of private Mega television have threatened recourse to the European Union if the start of digital TV is delayed any further.

The owners, five newspaper publishers, asked for Simitis' personal intervention.

Mr. Reppas also said that the Communications Ministry was working on a presidential decree to harmonise the country's standards with the European Union on construction of a decoder for satellite programmes.

The Hellenic Standardisation Organisation will determine the software to be used for the decoder.

Athens News Agency

[22] Political Spring wants open digital TV market

Athens 21/05/1998 (ANA)

"(Digital television) should comply with rules already laid down by the European Union, meet the need for transparency in market rules, and allow the issue of multiple permits," Political Spring said in a statement.

"The future television market, which the EU expects to be completed by the end of 2000 and even include household networks, is expected to exceed 200 billion Ecu," the statement said.

Athens News Agency

[23] Greek stocks jump on buying spree in banks

Athens 21/05/1998 (ANA)

Traders said the market remained nervous and cautious awaiting fresh incentives and news on the government's privatisation plan.

The general index ended 2.14 percent higher at 2,547.01 points.

Sector indices were mixed. Banks jumped 3.29 percent, Insurance fell 1.0 percent, Investment was 0.63 percent up, Leasing dropped 2.10 percent, Industrials rose 2.49 percent, Construction increased 0.80 percent, Miscellaneous ended 0.26 percent higher and Holding fell 0.91 percent.

The parallel market index soared 2.64 percent.

Trading was moderate with turnover at 52.9 billion drachmas. Advancers led decliners by 153 to 91 with another 20 issues unchanged.

Euromedica, Ionian Bank, Flexopack, Vernikos Yachts, Fanko, Xiosbank, Fourlis, Ideal and Attica Bank scored the biggest percentage gains hitting the day's 8.0 percent limit up. Duty Free Shops, Piraeus Leasing, Keranis, Eltrak, Balkan Export, Eskimo and Athinea suffered the heaviest losses.

National Bank of Greece ended at 51,985 drachmas, Ergobank at 27,030, Alpha Credit Bank at 32,400, Delta Dairy at 4,505, Titan Cement at 25,400, Intracom at 16,575 and Hellenic Telecommunications Organisation at 8, 900.

Athens News Agency

[24] Greece vows to sell Ionian Bank despite breakdown in strike talks

Athens 21/05/1998 (ANA)

"The government has taken the decision to sell Ionian and will proceed with the decision, taking into consideration the interests of workers," National Economy and Finance Minister Yiannos Papantoniou said. Mr. Papantoniou was speaking after a meeting with officials of Ionian's union, the national bank union, and the General Confederation of Greek Labour, which represents nearly a million workers in the private and public sectors.

The officials said the indefinite strike at Ionian would continue after unions rejected a government proposal to launch talks on protecting workers' interests, on the understanding the bank's sale would go ahead.

"The government refused to consider our proposal for a 20-day dialogue to discuss both the decision to sell Ionian and a workers' proposal for a merger with Commercial Bank," General Confederation of Greek Labour president Christos Polyzogopoulos told reporters.

State-owned Commercial Bank is Ionian's parent company. Both banks are listed on the Athens bourse.

Mr. Papantoniou and Labour Minister Miltiades Papaioannou told trade unionists that Ionian's buyer would be obliged to safeguard jobs for two years.

Striking workers have occupied Ionian's computer centre, disrupting ATM operations.

Other banks are staging rolling strikes with the Bank of Greece due to hold a 24-hour stoppage today. Yesterday, all banks held a four-hour strike. Workers at private Alpha Credit Bank, originally due to strike tomorrow, said yesterday they would work normally.

National Bank of Greece launched the strike wave last Friday, followed by Commercial Bank of Greece and Agricultural Bank.

Athens News Agency

[25] Nationwide stoppage disrupts transport in north

Athens 21/05/1998 (ANA)

Joining the five-hour stoppage were workers of Hellenic Railways Organisation, which led to six cancellations on the key Athens-Thessaloniki route.

Also on strike were Thessaloniki bus drivers, whose stoppage in the middle of the day brought the city's public transport to a halt.

The stoppage was called by the General Confederation of Greek Labour, which represents nearly a million public and private sector workers around the country.

Unions are opposing a wide-ranging privatisation programme that aims to tighten up state finances ahead of entry into the European Union's economic and monetary union, probably by January 1, 2001.

Also taking part in the stoppage was ADEDY, the civil servants' union.

Athens News Agency

[26] Xiosbank opens new branch in north

Athens 21/05/1998 (ANA)

Athens News Agency

[27] Businesses to subsidise Greek chambers in Egypt

Athens 21/05/1998 (ANA)

Athens News Agency

[28] Greece's ATE Leasing reports rise in Q1 contracts

Athens 21/05/1998 (ANA)

Athens News Agency

[29] Bulgaria expected to take part in northern trade fair

Athens 21/05/1998 (ANA)

Athens News Agency

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