Athens News Agency: Daily News Bulletin in English, 98-07-11

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

CONTENTS

[01] Greece backs Spanish proposal for less contributions by EU's least affluent

[02] Greek support for Slovenia's EU bid

[03] Commission distances itself from Lake statements

[04] Licence restrictions for Greek trucks travelling through Yugoslavia lifted

[05] Tsohatzopoulos address at Harvard

[06] Gov't re sponds to latest Turkish reaction over S-300s

[07] Turkish violations of Athens FIR

[08] 2004 security a Greek concern, Athens stresses

[09] NGOs gather in Thessaloniki for Royaumont-related meeting

[10] Canadian official in Athens

[11] Kaklamanis visits Lhasa

[12] European wind-surfing championship

[13] Egnatia '98 in Kavala

[14] Karamanlis calls for unity, support in light of local gov't election

[15] New Bulgarian envoy presents credentials

[16] Constantopoulos receives former Romanian president Iliescu

[17] Hellenic Marine Environment Protection Association Poster Competition

[18] Samos quake unrelated to Turkish catastrophe

[19] Declaration by Algerian ambassador on upcoming UN panel's visit to Algiers

[20] Two sisters arrested in heroin haul

[21] Bulgarian trucks banked up at border crossing

[22] Greek military delegation visit

[23] Greece shows biggest rise in overnight stays in EU countries

[24] Athens Stock Exchange

[25] Proodos Hellenic Investments post 117 pct profit jump in H1

[26] OTEnet launches third phase of network expansion

[27] Port of Piraeus reports 51 pct jump in container traffic

[28] DHKKI slams gov't over public transport overhaul plan

[29] Alpha Credit Bank announces new forex loan account rates

[01] Greece backs Spanish proposal for less contributions by EU's least affluent

The letters were addressed by the three countries' finance ministers a few months before the presentation of the European Commission's proposals on the EU's future fiscal framework and the contribution of every country to the revenues of EU budgets, in particular.

The common denominator appearing in the three letters is the need to decrease the contributions of the EU's economically weaker member-states towards the EU budget, and to correspondingly increase contributions of the economically stronger member-states .

The official claim was put forward in principle by the Spanish side, which submitted a proposal on July 2 on revising the principles by which the EU budget has been drawn up in past years. According to the Spanish proposal, Greece stands primarily to be nefit since a 33 per cent decrease in its annual contribution to the EU budget is proposed, and more specifically, a decrease in its annual contribution from 957 million Ecu at present to 641 million Ecu. In essence, a decrease in Greece's contribution by about 100 billion drachmas is suggested by the Spanish proposal.

The decrease is primarily due to the fact that the Spanish side is proposing the initiation of a more progressive system of the EU's own resources in which the GDP per capita of each member-state will primarily be taken into consideration for the assess ment of its contribution to the EU budget.

Since Greece's GDP per capita corresponds to 67 per cent of the EU's average per capita (as is also the case with Portugal), the decrease resulting for the two countries is considerable, while decreases for Spain and Ireland are also noteworthy.

On the contrary, as a result of the Spanish proposal, results will not be so favourable for the most prosperous countries, such as Belgium, Denmark, Germany, France, Italy, Luxembourg, the Netherlands and Austria, which will have to cover the amounts to be deducted from the contributions of the less prosperous member-states.

The Spanish proposal is naturally supported by Greece and Portugal, whose finance ministers addressed letters to European Commission President Jacques Santer several days ago, calling on him to take the Spanish intentions into serious consideration in t he framework of the preparation processes for the Commission's proposals for the EU's future fiscal framework.

In his letter to Mr. Santer, National Economy and Finance Minister Yiannos Papantoniou said that the Maastricht Treaty places particular emphasis on the question of "solidarity commitment" between member-states and "the need for the relevant prosperity of each member-state to be taken into consideration in the process of preparing the EU budget."

The letters by the three ministers to Mr. Santer are believed in principal to counterbalance the intentions of four economically powerful member- states - Germany, the Netherlands, Sweden and Austria - to have the amount of their contribution to the EU b udget decreased as they consider it to be too high.

"The Treaty - in its article 2 - as well as the Protocol on Economic and Social cohesion, clearly calls for the obligation of solidarity among member states and the need for the relative prosperity to be reflected in the own resources system," Mr. Papan toniou's letter states.

"To that effect, the member states declared their intention of examining means of correcting, for the less prosperous member states, regressive elements existing in the present own resources system," it added.

"In this context, I would like to express my support to the Spanish government's recent proposal, according to which the above mentioned commitments should be reflected in an eventual revision of the own resources system. Particular emphasis should be g iven to the appropriate readjustments on the GNP based contributions, taking into consideration the relative pro-sperity of the member states," the letter states.

Athens News Agency

[02] Greek support for Slovenia's EU bid

Also discussed were the latest developments in the Kosovo crisis, the Cyprus problem and Greek-Turkish relations.

Athens News Agency

[03] Commission distances itself from Lake statements

The press release came in response to press articles regarding until recently Commission representative Michael Lake's 25-page report, which accused Greece of undermining the west's strategy vis-a-vis Turkey and harming Brussels' interests in the region , among others.

The announcement noted that "it is not unusual for departing heads of delegations to express their personal views in an informal report upon departure from a posting."

"Mr. Lake's report falls into this category and its contents do not, therefore, necessarily have to conform in all aspects with the positions of the European Union (EU)."

Furthermore, European Commissioner for External Affairs, Hans van den Broek, yesterday morning called Greek Foreign Minister Theodoros Pangalos to ensure that there was no misunderstanding about the nature of the report.

It should be noted that Mr. Lake, stationed in Ankara for eight years, referred in his report to writing speeches for Turkish President Suleyman Demirel, when the latter was premier.

Athens News Agency

[04] Licence restrictions for Greek trucks travelling through Yugoslavia lifted

The measure is included in an agreement signed by Tranport Minister Tassos Mantelis and his Yugoslav counterpart Dejan Drobniakovic yesterday.

Greek overland commercial transport has had to follow routes through Bulgaria and Romania over the last five years because of the war in the former Yugoslavia as well as on restrictions on the number of licences, which date back to 1959.

Mr. Mantelis also obtained a commitment by his counterpart to recommend to his government a reduction in transit fees for Greek lorries, which Athens considers excessive.

It was also discussed and agreed in principle to create a free commercial rail corridor along pan-European Axis 10. This will mean that a consignment of Greek goods transported by either rail or truck will arrive at a west European destination without d ocument checks, reducing delivery time and costs.

The two sides also agreed to simplify border controls for travellers, as well as to examine the idea for setting up of a joint management centre for air traffic above 20,000 feet, based in Thessaloniki. The proposal, which has already been endorsed by a lmost all other Balkan countries, will mean that aircraft using Balkan air space will from now on pay fees which will be distributed among the signatories of the agreement.

A further clause on air transport gives Olympic Airways the right to open new branches in Yugoslav cities and expand services in the neighbouring country.

The two sides also examined the possibility of the partidipation of Greek companies in the construction of part of s highway from the city of Nis to the border with FYROM.

At a further meeting with Communications Minister Doicilo Radojevic later, Mr. Mantelis was also expected to discuss the further participation of the Hellenic Telecommunications Organisation (OTE) in the respective Yugoslav market, where it has already bought a 20 percent stake in the counterpart organisation.

Mr. Mantelis also exchanged views on bilateral relations with Serbian President Milan Milutinovic and Federal Prime Minister Momir Bulatovic.

Athens News Agency

[05] Tsohatzopoulos address at Harvard

Mr. Burns, who is accompanying Mr. Tsohatzopoulos on his official US tour, commented on the Greek minister's work and reputation as well as to his contribution towards strengthening Greek-American friendship and cooperation.

Mr. Tsohatzopoulos made the speech at Harvard's JFK School of Government late Thursday night on the issue of "Greece's Prospects on the Threshold of the 21st century P Challenges for Development and Security."

Referring to the possibility of Turkey one day joining the EU, Mr. Tsohatzopoulos said that "it is not true that Greece does not want Turkey in Europe, quite the contrary. However, there are other countries as well which set preconditions.

Regarding Cyprus' EU candidacy, Mr. Tsohatzopoulos expressed certainty that the island republic will soon become a member of the EU. He placed responsibility for the deadlock over Cyprus on the Turkish side, invoking relevant statements by US ambassador -designate to the UN Richard Holbrooke.

Replying to questions from the audience on Kosovo and the situation in the Balkans, he expressed concern over the lack of progress which now necessitates an initiative for an exit to the crisis.

Later, the Greek delegation headed by Mr. Tsohatzopoulos attended a dinner with the Federation of Greek-American Businessmen "Alpha-Omega".

The dinner was also attended by Mr. Burns, who made a warm address to Greek- American business people and, addressing Mr. Tsohatzopoulos, said that in Greece the US is seeking a "strong and effective partner". He also praised US-made weapon systems, maki ng special reference to the Patriot anti- missile system.

Yesterday, and after giving an interview to the newspaper "Boston Globe", Mr. Tsohatzopoulos was due to visit the installations of the Raytheon company, while in the evening he will arrive in New York to address a gathering of Greek expatriates.

Athens News Agency

[06] Gov't re sponds to latest Turkish reaction over S-300s

The spokesman was commenting on a statement by Mr. Yilmaz, who said that if Nicosia went ahead and installed the missiles, Ankara would install similar missiles in the Turkish-occupied part of the divided island.

"This clearly shows just how much (Turkish Cypriot leader) Rauf Denktash is a mere puppet of Ankara as well as Turkey's bellicose disposition," Mr. Reppas said.

He stressed also that the decision to purchase and install the S-300 missiles was taken by the Cyprus government.

[07] Turkish violations of Athens FIR

Specifically, 24 Turkish F-16s and six F-4s infringed on Athens FIR regulations 16 times.

Hellenic Air Force planes recognised and intercepted the Turkish warplanes.

Athens News Agency

[08] 2004 security a Greek concern, Athens stresses

"We shall not assign these activities since they are a matter for Greek authorities," government spokesman Dimitris Reppas said, adding that "there will, of course, be cooperation".

The spokesman was commenting on reports that the request had been put to National Defence Minister Akis Tsohatzopoulos during his visit to the US over the past week.

According to an ANA dispatch from Boston, a possible terrorist strike against US targets during the 2004 Games is causing concern to US officials, sources claimed.

According to the same sources, the issue was brought up during Mr. Tsohatzopoulos' contacts with his US counterpart William Cohen and CIA Director George Tennet. The latter expressed fears of a possible strike by the notorious "November 17" terrorist o rganisation, which has repeatedly attacked US officials and interests in Greece, beginning with the 1975 killing of then CIA Athens station chief Richard Wells.

Mr. Tsohatzopoulos undertook to transfer Washington's concerns to Prime Minister Costas Simitis, sources added.

Athens News Agency

[09] NGOs gather in Thessaloniki for Royaumont-related meeting

The initiative aims to promote stability, good-neighbourly relations and regional cooperation through a recording of problems as well as the formulation of methods and actions for closer contacts.

A basic aim is the development of an cross-border conscience among peoples, particularly in the sensitive region of the Balkans.

This first meeting in Thessaloniki, sponsored by the Lambrakis and Kokkalis Foundations and other enterprises which are the main funders of the initiative, has an esssentially exploratory character, and will discuss a number of studies already prepared.

"For the countries of southeastern Europe to reach the point where other EU members are today, they need -since they seek to become members of the EU - to set up, adopt, adjust to and apply in time to the institutions and the policies of the European Union in order to restrict and cover the gap separating them from the Union," said professor Yiannis Tsekouras, who collaborates with the Kokkalis Foundation in the documentation of a research programme on the neighbourly relations between peoples in the region.

Foundation's vice-president Niki Tzavela said it would cooperate with Prof. Tsekouras in a project that would poll public opinion in Greece and Turkey on relations between the two countries.

The meeting, which was opened by Macedonia-Thrace Minister Philippos Petsalnikos, is also being attended by representatives of the Austrian EU presidency, the European Commission, the Council of Europe, and former US senator John Brademas.

Athens News Agency

[10] Canadian official in Athens

Ms Bakopanos will meet with Justice Minister Evangelos Yiannopoulos and sign a bilateral law enforcement agreement, which will enable Greek and Canadian police and prosecutors to better combat international crime.

The "Treaty on Mutual Legal Assistance in Criminal Matters" includes cooperation between authorities of the two countries in the gathering of evidence and mutual assistance.

Ms Bakopanos will also meet with Alternate Foreign Minister George Papandreou and the Secretary General for Greeks Abroad Stavros Lambrindis, as well as with other Greek officials.

Athens News Agency

[11] Kaklamanis visits Lhasa

At the 180,000-resident city in the autonomus province of Tibet, Mr. Kaklamanis met with the leadership of the Local Popular National Assembly.

Local leadership stressed that the reasons for friendship between the two peoples must be researched from their ancient histories and through their struggles for freedom.

Mr. Kaklamanis noted that cooperation of China and Greece within the United Nations framework, as well as China's support for a Greek bid to be elected as non-permanent member of the UN's Security Council.

Furthermore, he said that representative bodies can play an important role in mutual understanding and communication between peoples and countries.

Finally, the Lhasa's leadership briefed Mr. Kaklamanis on the 40-year development of the autonomus province and on economic and social development.

Athens News Agency

[12] European wind-surfing championship

The competition is organised by the Nea Makri Yacht Club with the support of the Greek Wind-surfing Federation and the municipality of Nea Makri.

The championship is also open to non-European participants.

Athens News Agency

[13] Egnatia '98 in Kavala

Exhibits range from the Hellenic Telecommunications Organisation's (OTE) pavilion to industrial and constuction materials, as well as consumer goods and furniture. Some 70 exhibitors are participating.

Athens News Agency

[14] Karamanlis calls for unity, support in light of local gov't election

He also warned that he will not tolerate personal bitterness, complaints and ambitions within the party that create obstacles for ND's course and targets.

Mr. Karamanlis said that such a position facilitates an extension to confusion and vagueness existing due to government policy. He added that the day-to-day attitude of ND cadres will judge whether an "open arms" strategy will succeed, adding that absol ute mobilisation is necessary and that "whoever cannot and lacks the strength to give battle in this struggle must sit aside."

Mr. Karamanlis sharply criticised the government over its policy, saying that it is taking timid, inadequate and boldless measures. He said that Prime Minister Costas Simitis does not dare announce a policy overturning distorted factors existing in the government system and that the government is unable to live up to the popular mandate to modernise the country.

He said that the country is deviating instead of converging with the European Union and criticised the government for its recent settlement of debts. He also spoke of "wretched practices" on the part of the ruling party and of "an orgy of squandering public money.

Athens News Agency

[15] New Bulgarian envoy presents credentials

He is a scholar of comparitive Bulgarian and Greek literature, particularly of Greek writers of the 18th and 19th century, while he is also interested in modern Greek and Cypriot literature, which he has translated into Bulgarian.

Mr. Topalov spent a year in Athens (1978-79) studying Greek philology. In 1992-94 he taught Bulgarian literature and culture at the Aix-en-Provence University in France, and has taken part in many scientific and literary conferences in Greece and a round the world.

Athens News Agency

[16] Constantopoulos receives former Romanian president Iliescu

Views were exchanged on developments in the Balkans, bilateral relations and the prospects of the European Left.

According to a Synaspismos announcement, Mr. Constantopoulos stressed the need for a peaceful solution to the problem of Kosovo and expressed support for strengthening inter-Balkan cooperation and accession of all Balkan countries to the EU.

Athens News Agency

[17] Hellenic Marine Environment Protection Association Poster Competition

Children from around the country submitted 115 works, while first prize was given to the Manos School of Attica; second place to the elementary school of Panagia, Thassos, and third place to the Avgouleas-Linardos Modern School.

Athens News Agency

[18] Samos quake unrelated to Turkish catastrophe

Thessaloniki University seismology professor Manolis Skordilis told the ANA the Samos quake was "too small in magnitude to make us suspect a possible move of the epicentre of the quake in southeastern Turkey".

Mr. Skordilis said there were "many small and larger faults" around Samos.

"In fact," he said, "there was a 6.0 Richter earthquake in 1992, which had caused damage in the outskirts of Izmir, while there was also a 6.8 Richter quake in 1904".

Athens News Agency

[19] Declaration by Algerian ambassador on upcoming UN panel's visit to Algiers

The panel's visit is being carried out on the initiative and at the invitation of the Algerian government, Algerian Ambassador Kamel Houhou stated.

"Decided in all sovereignty, this initiative participates in the policy of transparency and opening that Algeria leads and intends on leading constantly, a transparency policy at the service of our political and institutional pluralism as well as of the enriching progress of our democracy," it added.

"This will, saluted by the international institutions as a very positive opening gesture, reflects equally an availability permitting to the international Community to collect true informations on the reality in Algeria, in its every dimension, and to my country to meet with every manoeuvre and attempt leading to deformation and desinformation, of which it became the object, while it confronted a blood-thirsty and barbarous terrorism and consolidated at the same time a true democracy within the framework of political pluralism and the State of law," the declaration further stated.

"Prompted by its preoccupation to offer to the world the possibility to have a clear vision and a precise image of our today's national reality, Algeria will, therefore, receive this panel of eminent personalities, designed by the Secretary General of t he United Nations, after deliberations with my government and in concert with the Secretaries General of the Arab League and the African Unity Organisation, presided by Mr. Mario Soares, ex- president of the Republic of Portugal and composed of: Mr. I.K. G ujral, India's ex-prime minister, Mr. Abdelkarim Kabariti, Jordan's ex-prime minister, Mr. Donald Mac Henry, ex-member of the Carter government and ex- ambassador, permanent representative of the USA at the United Nations, Mrs. Simone Veil, ex-French minis ter of state, Mr. Amos Walko, Kenyan minister of justice," it added.

"It is obvious that this panel's character is strictly informative and that it joins in the framework of the policy of transparency and opening lead by my country, which has already rejected the idea of the international enquiry committee, on the ground s that it constituted a flagrant interference in our internal affairs and created doubts about the authors of the terrorist crimes," the declaration concluded.

Athens News Agency

[20] Two sisters arrested in heroin haul

Acting on information received, Patras drug squad officers went to Athens yesterday and arrested Pouria and Laila Nafar, 30 and 28 respectively, after finding them in possession of 3.1 kilos of heroin.

The sisters, who have a cosmetics shop in Athens, were arrested at their apartment in Kallithea. They were later taken to Patras for questioning.

A senior police officer in Patras said the sisters were believed to be members of an international drug ring which trafficks in heroin from Turkey.

Athens News Agency

[21] Bulgarian trucks banked up at border crossing

The head of the district customs office at Koulata (on the border with Greece) Ivan Boudimov and border officials met with their colleagues at the Promahonas check-point and customs to discuss how to ensure faster crossing.

"We spoke for two hours with our Greek colleagues with whom we have very good relations. They committed themselves to ensuring faster crossing for Bulgarian cars," the head of Koulata customs said. The Promahonas border check-point reportedly app lies a special scheme in letting cars across the border. One of the lanes servicing only EU cars is prioritized. It was agreed at the meeting that all kinds of cars will be allowed to pass along this lane in order to eliminate the jam as quickly as possible.

Priority will be given to vehicles carrying live animals, fuels, perishable foods and other types of goods and cargoes.

The backlog at the border crossing dates back to some ten days ago, Bulgarian border officials said.

Traffic across the border is much heavier in the summer period, and not only the number of trucks but also cars and tourist coaches increase.

Athens News Agency

[22] Greek military delegation visit

During their visit the Greek officials will meet with Sliven mayor and will familiarize themselves with the conditions at the centre for training of young conscripts in the village of Sotirya. Athens News Agency Bulgarian-Greek trade exhibition begins BLAGOEVGRAD (BTA/ANA) - A Bulgarian- Greek trade exhibition, Mesta-Nestos'98, opened in Gotse Delchev, suthwestern Bulgaria on Thursday.

Participating are more than 30 Bulgarian and 15 Greek textile, food, wood- processing, furniture, construction materials and electronic products companies.

This the second such trade fair, held under the auspices of Bulgarian Vice President Todor Kavaldjiev.

It will last three days and is a joint initiative of the Gotse Delchev municipality, the Drama prefecture, the chambers of commerce and industry of the two towns and Business Forum Inc. of Sofia.

The exhibition aims to promote trade and economic contacts and cooperation between the businessmen from the border areas of Bulgaria and Greece.

Bulgaria's Mesta association and Greece's Nestos assisted in organizing the event.

The two organizations include municipalities located in the border areas and non-profit organizations in the two countries and are oriented towards boosting cross-border cooperation.

Athens News Agency

[23] Greece shows biggest rise in overnight stays in EU countries

Overnight stays by domestic tourists in Greece increased by 7.0 percent, Eurostat said.

It said that total tourist overnight stays increased by an average 1.5 percent in the 15-member bloc, although overnight stays by domestic tourists in each state was only 0.4 percent higher in the same period.

France and Finland were the biggest among winners, recording a roughly 10 percent rise in foreign tourist overnight stays. Spain showed a 12.2 percent increase in overnight stays by domestic tourists.

The EU's tourism industry has 185,000 hotels with a total of nine million beds.

Athens News Agency

[24] Athens Stock Exchange

The general index ended 0.27 percent off at 2667.10 points to show a net gain of 6.38 percent in the week. The index has gained 80.25 percent since the start of the year.

Trading was heavy with turnover at 80.6 billion drachmas. The week's turnover totalled 519.869 billion drachmas to post average daily turnover of 103.9 billion drachmas, up from 77.9 billion the previous week.

The rise in turnover was due mainly to the transfer of 2,900,000 shares in listed Ergobank to EFG Eurobank, a member of the Latsis Group.

Sector indices were mixed. Banks rose 0.42 percent for a 13.61 percent gain in the week, Insurance fell 1.16 percent, Investment dropped 0.02 percent, Leasing plunged 3.90 percent but were 20.20 percent up in the week, Industrials eased 0.62 percent, Co nstruction ended 0.26 percent up, Miscellaneous increased 0.02 percent and Holding rose 1.76 percent for a 0.73 percent weekly loss.

The parallel market index for small cap companies fell 1.33 percent.

Broadly, decliners led advancers by 143 to 83 with another 23 issues unchanged.

Bank of Piraeus, Xiosbank, Athina, Metka, Lampsa, Lavipharm, Eltrak, Dimitriadis and Benroubi scored the biggest percentage gains hitting the day's 8.0 percent limit up.

Development Invest, Rokas, Lanakam, Ionian Hotels, Balkan Export, Etma, Dane and Desmos suffered the heaviest losses.

National Bank of Greece ended at 46,990 drachmas, Ergobank at 33,900, Alpha Credit Bank at 28,850, Ionian Bank at 17,960, Delta Dairy at 3,960, Titan Cement at 22,690, Intracom at 12,500, Hellenic Petroleum at 2,650 and Hellenic Telecommunications Orga nisation at 8,000 drachmas.

Athens News Agency

[25] Proodos Hellenic Investments post 117 pct profit jump in H1

The company's first half profits were higher than its profits of 4.3 billion drachmas in the whole of 1997, it said in a statement.

The firm's market value was 6.7 billion drachmas on June 30 and its portfolio yielded 11.6 billion drachmas, a rise of 95 percent from the first half of 1997.

Eighty eight percent of Proodos' net assets were invested in equities, 1.5 percent in state bonds, and the remainder in drachmas and foreign currency, the statement said.

Athens News Agency

[26] OTEnet launches third phase of network expansion

The cities are Alexandroupoli, Agrinio, Veria, Kastoria, Komotini, Nafplio, Rethymno and Serres.

Operation of the new hubs, which have Cisco routers and access servers along with Microcom modems, is expected by the end of August, the statement said.

OTEnet acquired a 10Mbps circuit abroad (8 Mbps in America and 2 Mbps in Europe) in mid-June.

Athens News Agency

[27] Port of Piraeus reports 51 pct jump in container traffic

OLP said in a statement that imports rose cargo by 3.0 percent, exports by cargo 12 percent, transit cargo by 200 percent, and empty containers by 18 percent in the first six months of the year.

Around 85 percent of the overall rise was due to transit cargo and 15 percent to other cargo and empty containers, the statement said. Athens News Agency Gov't to foot part of ailing store's social insurance bill The state Manpower Employment Organisation (OAED) is to foot 50 percent of unpaid social insurance contributions for staff owed by Minion, an ailing Athens department store.

The move will allow Minion to keep its roughly 400 staff and continue operating under a receiver until the store acquires new directors agreed by the majority of creditors.

The decision on part-payment of the debt was approved yesterday by Labour and Social Insurance Minister Miltiades Papaioannou.

Payment of the 570 million drachmas, half the sum owed by Minion, will be effected through a settlement because the Social Insurance Foundation, the recipient of the sum, is also in debt to OAED.

Athens News Agency

[28] DHKKI slams gov't over public transport overhaul plan

Mr. Tsovolas accused the government of disinformation over the Athens Urban Transport Organisation's (OASA) debts of 900 billion drachmas.

"The reality is that the finance ministry owed the money to the transport companies involved due to the social and economic policy implemented from 1976 to the present," he said during a visit to OASA's facilities in Piraeus.

The government's objective was to defame the public sector and its workers in order to lift objections to widescale privatisation underway, Mr. Tsovolas said.

Athens News Agency

[29] Alpha Credit Bank announces new forex loan account rates

The rates, effective on Monday, are base rates liable to an increase of up to 4.5 percentage points.

The rates for each currency are as follows:

- Dollar, 7.90 percent - Ecu, 6.40 percent - Mark, 5.75 percent - Yen, 2.80 percent - Swiss franc, 4.35 percent - Italian lira, 7.25 percent - Pound sterling, 9.95 percent - French franc, 5.75 percent - Belgian franc, 5.90 percent

Athens News Agency

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