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

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

CONTENTS

[01] Greece welcomes start of EU accession talks,warns against new conditions for Cyprus

[02] Police shakeup announced

[03] Positive statements for Cyprus at conference on accession

[04] G.Papandreou briefs EU counterparts on Halki issue

[05] Athens rejects Turkish claims over Moslem minority as 'entirely unfounded'

[06] Joint EU-Turkey parliamentary council convenes

[07] Simitis concludes visit to Poland

[08] Sweden's Schori in Athens

[09] NATO's Naumann visits site of Larissa sub-headquarters

[10] KYSEA to appoint new military chief

[11] Tsohatzopoulos-Burns meeting

[12] English edition of book on history of Greek Jewry

[13] Direct foreign investments in Greece rise to 1.5 bln dlrs in 1997

[14] Avg. rate drops to 7.81 pct in 10-yr bond auction

[15] Aspis Bank reports 76 pct pre-tax profit surge Jan-Sept

[16] Pouliades shows 80 pct profit jump Jan-Sept

[17] Greek stocks end flat in moderate trade, banks lift the market

[18] Printing ink firm seeks entry into Athens bourse

[19] Watchdog committee to check 700 public works by end-year

[20] Car dealerships promise to pass on tax breaks to buyers

[21] Macedonian Airways predicts profitable '99

[22] Israeli firms to present environmental technology applications at Dec. seminar

[23] Karamanlis-Christodoulos meeting

[24] AMVER prizes awarded

[01] Greece welcomes start of EU accession talks,warns against new conditions for Cyprus

Athens 11/11/1998 (ANA)

"Greece will in no way accept new conditions other than the procedure decided for Cyprus' EU accession and the course towards negotiations," Mr. Simitis told reporters while concluding a two-day visit to Poland and in response to a joint statement by France, Germany and the Netherlands, issued on Monday and referring to "particular difficulties" linked to the beginning of Cyprus' accession talks. Italy also signed the declaration.

The European Union yesterday opened formal enlargement talks with Cyprus and five other European nations, expected to join the Union early in the next century.

In Athens, Deputy Foreign Minister Yiannos Kranidiotis said Greece considered the enlargement process as an integrated procedure, arguing that a new enlargement cannot be limited only to the countries of eastern Europe but must include some Mediterranea n countries as well.

In a statement welcoming the beginning of talks for Cyprus' accession to the European Union as a "land-mark" in the island's attempt to join the 15- nation bloc, Mr. Kranidiotis said there could be no justification for not including Cyprus in the EU with other candidate-countries.

"Greece will consent to a future enlargement if this includes Cyprus," the minister said.

Athens desires the inclusion of a united Cyprus in the European family, Mr. Kranidiotis said, and it is for this reason that it supports each effort to find a solution.

Greece, however, is opposed to finding a solution to the division of the island as a prerequisite to Cyprus' accession to the European Union, he added.

"Previous decisions by the EU do not provide for such an eventuality, which would only bolster Turkish intransigence and effectively leave Cyprus as Turkey's hostage," he added.

"There is no question that these talks will prove that Cyprus meets the conditions and criteria for its inclusion in the European Union and, subsequently, will pave the way for the unhindered entry of the island into the Community," he said.

Mr. Kranidiotis expressed his conviction that Cyprus' inclusion in the EU would be a "catalyst" in the ongoing attempts to find a just and viable solution to the division of the island on the basis of UN resolutions.

"Cyprus' European vocation facilitates the issue of peace and stability in the wider region and is to the advantage of both communities on the island, " the minister said.

"Greek Cypriots and Turkish Cypriots will be able to live together in a federal Cyprus which will come under the security umbrella provided by lawful order in Europe. The EU is in a position to guarantee peaceful co- existence, cooperation and the prospe rity of both communities," Mr. Kranidiotis said.

Cyprus' contribution to the geo-economic and geo-political interests of the 15-nation bloc in the wider area of the eastern Mediterranean, the minister added, should not be underestimated.

Gov't spokesman : Acting government spokesman Nikos Athanassakis later echoed Mr. Kranidiotis' views, reiterating Greece's standing position that Athens would not accept the EU's enlargement with the accession of other countries if Cyprus' bid for membership was rejected d ue to the island republic's political problem. While welcoming the commencement of negotiations for Cyprus' accession, he stressed that the island republic would never become a hostage to Turkey, adding that Ankara had no right of veto with respect to Cyprus' accession.

He also expressed the hope that the accession process could help resolve the political problem caused by Turkey's 1974 invasion and subsequent occupation of one-third of Cyprus.

Replying to questions on the joint declaration by France, Germany and the Netherlands linking Cyprus' accession to the settlement of the political problem, Mr. Athanassakis said Greece would have preferred the statement not to have been made.

He underlined, however, the importance of the EU's institutional framework "within which Greece has certain rights."

Pangalos : On his part, Foreign Minister Theodoros Pangalos, who was accompanying Mr. Simitis, said:

"There will be no enlargement without Cyprus," he said.

Mr. Simitis said there were some who believed that the resolving of problems within the EU was a painless affair but "the view that everything is fine does not reflect reality".

"Within the EU there are conflicting interests. Each country is looking for new footholds and that is why there are differing positions. We shall fight when necessary and ensure that our position prevails," Mr. Simitis said.

The premier underlined that when the decision concerning Cyprus' accession was taken in 1994, everyone was well aware of the political problem "which is one of occupation of a part of Cyprus".

"And everyone acknowledged this, but now there are some who are trying to set a new condition which is quite unacceptable," he added.

Mr. Pangalos said the three EU countries which signed Monday's statement were of the view that Cyprus' political problem should first be resolved.

"We, too, believe that it should be resolved and we also believe that the accession process will help in this direction. Under no circumstances however do we accept that a settlement is a precondition for the continuation of negotiations. The negotiatio ns will continue and be concluded," Mr. Pangalos said.

He described as "unilateral" the declaration of the three countries "which are simply stating their position,", noting that Greece too had submitted a declaration stating its position.

Stressing that there can be no EU enlargement without Cyprus, Mr. Pangalos said that if Cyprus were not among the six countries which began formal accession talks yesterday, "our approach would be different".

Athens News Agency

[02] Police shakeup announced

Athens 11/11/1998 (ANA)

Police Chief Ioannis Georgakopoulos said that he would be replacing the entire squad for prostitution and gambling "from director down to last policeman".

Also in line for the same treatment is the state security department for weapons and explosive materials.

He made the announcement during a meeting with journalists and the new director of Attica General Police, Georgios Skaltsas.

Mr. Georgakopoulos refused to divulge any further details of the changes to be made, saying only that the leadership of the force was "dissatisfied with the performance of these two departments".

He promised to deal severely with any police officer suspected of breach of duty, in the framework of a campaign by police to crack down on corruption. Police patrols around the country, but particularly in Athens, will be increased, he promised, say ing that an extra 500 officers presently on desk duty would be conscripted in to bolster the police presence on Athens' streets. Mr. Georgakopoulos, one of the police officers injured in the now-notorious bungled raid on a fugitive holding three hostages late in September, took over as chief of Greek Police on September 25.

Last week, a public prosecutor investigating corruption brought charges against 16 senior police officers and civilians, including Mr. Georgakopoulos's predecessor Athanasios Vassilopoulos. The focus of the investigation is police involvement in the unl awful granting of residence permits to foreigners, protection rackets and drug-related offences.

Other incidents that have blemished the reputation of Greek police include the arrests of nine police officers implicated in a prostitution racket and last month's fatal shooting by an arresting officer of a Serbian schoolboy. A senior official, referring to the latter incident, admitted that faltering morale in police ranks may have played a role in what he called an "unfortunate incident".

The government late last month replaced Public Order Minister George Romeos with Philippos Petsalnikos, former minister for Macedonia and Thrace. Before the move, government spokesman Dimitris Reppas had defended the police, saying that the increase in economic migration had to be taken into account in the recent rise in crime in Greece but admitting that the force was performing well short of expectations.

"It would be unfair not to give police credit for its successes while at the same time not ignoring its mishaps and failures," Mr. Reppas had said.

Athens News Agency

[03] Positive statements for Cyprus at conference on accession

BRUSSELS 11/11/1998 (ANA -M. Spinthourakis/CNA)

It was ascertained that Monday's declaration by the Netherlands, Germany and France which said "the division of the island poses fundamental problems for the operation and the coherence of the Common Foreign and Security Policy" had no negative effect.

On the contrary, the Austrian presidency of the EU and other EU member states welcomed the start of the accession negotiations. The President of the Council of the EU, Austrian Foreign Minister Wolfgang Schussel said: "it represents a histor ical moment when the accession train is picking up speed".

He also expressed hope that "as a result of these negotiations, the political negotiations will receive a new impulse".

Speaking at a joint press conference with Cypriot Foreign Minister Ioannis Kasoulides and EU External Relations Commissioner Hans van den Broek, Mr. Schussel said that today (yesterday) "is the actual day for the beginning of negotiations and nothing can stop those going ahead".

He said they studied seven important chapters and that in the case of Cyprus "we had a very good atmosphere, we developed a very harmonious cooperation". Noting that no further discussion is needed on the five chapters of research and science, educati on and youth, small and medium- sized enterprises, industry, culture and audiovisual policy, Mr. Schussel said the two chapters of telecommunications and common foreign and security policy need further treatment and are still being discussed.

He said he was very grateful to Mr. Kasoulides for "his clear statement that the efforts of the UN to achieve a political solution will be granted a very high priority", adding that he can only give the "full support from the EU for the peace efforts of the UN".

Mr. Schussel said "as Kasoulides pointed out, the door of negotiations was open for participation to all population groups of Cyprus", noting that the "process of opening and integration is of particular relevance to the economically weaker northern part of the country", (the Turkish-occupied north), which can be assisted in this way.

He also said Mr. Kasoulides' announcement that "people to people contacts" (to inform the Turkish Cypriot community about the negotiation process of Cyprus) promoted by Internet and radio programmes, "is an important initiative and will receive the full support of the EU".

Speaking at the conference, Mr. Kasoulides thanked Mr. Schussel, the presidency, the country members, the European Commission, Commissioner Van den Broek and the Task Force for the "assistance, the cooperation and the effort which has been made jointly to arrive to this day, which is an important day for Cyprus". He reiterated that it is the Cyprus government's "desire to see our Turkish Cypriot compatriots participate with us in the efforts for joining the EU".

Mr. Kasoulides said the official invitation made by President Glafcos Clerides to the Turkish Cypriot community "still stands" and said he hoped that "the political circumstances will allow them to take it".

"We will not cease to try and promote contacts between the societies as well as the citizens of both communities" and expressed hope that Turkish Cypriot leader, Rauf Denktash, "will reciprocate to this effort, despite the difficulties he is showing at the moment".

The Cypriot Minister said "we will work honestly with the UN in order to achieve a political solution of the Cyprus problem based on the relevant UN resolutions in the formation of a bizonal and bicommunal federation, if possible, which is also our wish , well before the next enlargement of the EU".

On his part, Mr. van den Broek described yesterday's conference as "a very important further step on the way to the EU membership of Cyprus".

He said the Commission very much appreciates "the professional and cooperative approach from the Cypriot delegation" and said he looks forward to "seeing the negotiations extended, the delegation extended to include the Turkish Cypriot community".

"We are all decided and so much convinced that it will be to the ultimate benefit of the island as a whole, and in particular to the Turkish Cypriot community to participate in this historical enterprise", he added.

Invited to comment on the statement of the three EU member states concerning the process of negotiations with Cyprus, Mr. Kasoulides reminded that "we must not forget that there is a common position".

Noting that Cyprus has not disagreed that its political issue created certain problems in the process, Mr. Kasoulides said "the question is what we do to solve the Cyprus problem" and whom has one to address for the solution of this problem.

Mr. Kasoulides said that all reports from the UN, the secretary-general and even US presidential emissary, Richard Holbrooke, "pointed the finger to the Turkish side as being responsible for blocking a solution".

Therefore, he said, "a more equitable position would have been to address themselves to Turkey and say that Turkey must work positively and honestly in order to achieve a solution of the Cyprus problem, as urgently as possible", and that Turkey "will not be able to veto the accession of Cyprus to the EU by blocking the political solution of the problem".

On this point, Mr. Schussel said, as President of the Council, that "there is nothing new or dramatic about something which was said, without any discussion, in the Council yesterday" (Monday).

He said "everybody wants a political solution and a political settlement under the auspices of the UN".

Mr. Schussel described as "a very positive development" the way in which the Cypriot government is tackling the problem.

Furthermore, he said according to a survey in the Turkish-occupied areas, "there is a majority in favour of joining the EU" and this is a positive element, therefore economic exchanges and business relations between both parts much be encouraged.

"What happened yesterday and today is not an obstacle for Cyprus", he said.

In his statement at the ministerial meeting of the conference on accession to the EU, Mr. Kasoulides said "Cyprus believes strongly that her accession to the EU will strengthen the internal coherence of the Union".

He said "sending the message that the Cyprus problem, if unresolved through no fault of our own, excludes Cyprus from joining the Union, is a certain way to deepen and perpetuate the existing cracks in the common foreign and security policy towards our sensitive area".

During the meeting, Alternate Foreign Minister George Papandreou described the conference as "historical" and welcomed a statement made by British Foreign Secretary Robin Cook, who warmly welcomed the Cypriot invitation to the Turkish Cypriots to partic ipate in the accession talks.

Athens News Agency

[04] G.Papandreou briefs EU counterparts on Halki issue

BRUSSELS 11/11/1998 (ANA - P. Pantelis)

Describing Turkey's move to abritrarily abolish the elected committee as "unacceptable", Mr. Papandreou said he had also referred at the General Affairs Council yesterday to statements on Sunday by Ecumenical Patriarch Vartholomeos, who was highly critical of Ankara's decision.

"Today, I publicly reiterate my condemnation of the Turkish move which is a provocation to all Orthodoxy as well as to every country which believes in democratic principles and religious freedom," Mr. Papandreou said. He added that Greece would take all the necessary steps to ensure that international public opinion was informed about Turkey's stance and to energise governments to act to protect the Patriarchate and secure the resumed operation of the Halki Academy.

In Athens, acting government spokesman Nikos Athanassakis said Deputy Foreign Minister Yiannos Kranidiotis had lodged a protest with the Turkish ambassador in Athens on Oct. 30 concerning the committee's abolition.

Since then all the necessary diplomatic steps have been taken, Mr. Athanassakis said, adding that there was also a human rights issue involved.

In a related development, five Greek Eurodeputies from across the political spectrum sent a letter to top EU officials, seeking their immediate intervention to protect the Ecumenical Patriarchate and press for the revocation of Turkey's decision to abolish the Halki Academy's supervisory committee.

According to an ANA dispatch from Brussels, the letter was sent to Europarliament President Jose Maria Gil-Robles, European Commission President Jacques Santer and European Commissioner for external relations Hans van den Broek.

"The European Union, which at the level of statutory bodies has with patience once again occupied itself with the need to strengthen relations with Turkey and which maintains relations with the Ecumenical Patriarchate, cannot turn a deaf ear to these charges," the Greek Eurodeputies state in the letter.

"It is also in Turkey's interests to avoid creating such negative impressions, particularly at a time when international (and EU) charges are multiplying with respect to the violation of human rights in general and of minority rights in particular in Turkey," the letter adds.

Turkey's reply : ISTANBUL (ANA - A. Kourkoulas) - Meanwhile, the Turkish foreign ministry yesterday claimed that criticism over the abolition of the supervisory committee was baseless.

FM spokesman Cermet Atazanli, commenting on US ambassador Mark Parris' demarche on the issue, said that "this was not an issue which directly involved the foreign ministry...Our positions are known."

Athens News Agency

[05] Athens rejects Turkish claims over Moslem minority as 'entirely unfounded'

Athens 11/11/1998 (ANA)

The foreign ministry pointed out that in Greece there was no discrimination in enforcing the law. The announcement reminded that the insitution of the Moslem mufti has been implemented in Greece since 1923, pursuant to the country's Constitution and in ternational commitments. As regards the Moslem community in Thrace, the real facts are the best rejection of Ankara's claims, it said.

Apart from the three Moslems who are members of the Greek Parliament, a considerable number of Moslems are actively involved in the elected bodies of local government,it said.

Additionally, Turkish-language newspapers and other printed media are freely published, while educational and religious rights are also freely practiced.

Athens News Agency

[06] Joint EU-Turkey parliamentary council convenes

BRUSSELS 11/11/1998 (ANA - M. Spinthourakis)

After a session of the joint parliamentary EU-Turkey committee yesterday, he told reporters that in the case of EP's positions, it was difficult to provide guarantees.

The Turkish co-chairman of the committee, Bulent Akarcali, appeared eager to portray his country as one that may be said to have certain weaknesses, but also as capable of being a candidate for EU accession on equal terms with other hopefuls.

He expressed hope that the EU summit in Vienna next month would treat Turkey as such.

Referring to Greek-Turkish relations, the Turkish parliamentarian said that if Greece played a constructive role in the strengthening of Turkey's relations with the EU, this would "immeasurably" help relations between the two countries, citing as a posi tive move Greece's assurance that it would not accept on its soil Kurdish Workers' Party (PKK) leader Abdullah Ocalan.

The joint committee also discussed the report being prepared by Euro-MP Hans Svoboda on the Commission's proposals for futher developing relations with Turkey.

The report, which contains references to Cyprus and the inadequate democratic institutions of Turkey, but omits any to Ankara's provocative behaviour towards Greece, has led Greek deputies to submit a series of amendments.

It also refers to Turkey's selectibility for EU candidature, stressing that the basic obtacles to it are of political nature and that "Turkey is very far from complying with the criteria of Copenhagen in relation to democratic institutions".

The Commission's finding that there has not been significant progress regarding democratic reform in Turkey since the customs union agreement with that country came into effect is correct, the report says. There are also extensive references to the Kurd ish problem, the need for solving it through peaceful means, and the lifting of the state of emergency in Turkey's southeastern provinces.

Athens News Agency

[07] Simitis concludes visit to Poland

WARSAW 11/11/1998 (ANA - S. Liarelis)

He noted however that certain problems had to be overcome with regard to enlargement and that the process must involve the consolidation of rules of international law and the settlement of differences in a manner which is indisputable, such as at the In ternational Court at The Hague.

At the same time, Mr. Simitis said, other problems must be resolved such as the increase in own sources and the new structure of the EU's institutions.

"These are parallel processes which are on the one hand distinct but on the other directly interrelated," Mr. Simitis said.

The premier expressed satisfaction at the level of Greek-Polish relations, stressing that Poland was a large market which presented opportunities for Greek businesses.

Talks with his Polish counterpart, Jerzy Buzek, also focused on the international economic crisis, with Mr. Simitis expressing the view that the crisis was now under control "although no one can predict what will happen in the immediate future".

Also discussed were security issues and the role of NATO.

Mr. Simitis returned to Athens yesterday.

Athens News Agency

[08] Sweden's Schori in Athens

Athens 11/11/1998 (ANA)

Mr. Schori arrives in Athens at the invitation of the Lambrakis Studies Foundation to give a speech tomorrow. During his stay, he will meet with several government officials, including Alternate Foreign Minister George Papandreou.

Athens News Agency

[09] NATO's Naumann visits site of Larissa sub-headquarters

Athens 11/11/1998 (ANA)

Gen. Naumann was welcomed by the commander of the 1st Army Lt.-Gen. Constantinos Panayiotakis and was briefed on the progress of work at the sub-headquarters. In a statement, he assessed that the sub-headquarters will operate soon.

According to sources, Gen. Naumann expressed satisfaction over progress at the site.

Gen. Naumann returned to Athens afterwards and was received by National Defence Minister Akis Tsohatzopoulos. He departed from Greece at noon.

Athens News Agency

[10] KYSEA to appoint new military chief

Athens 11/11/1998 (ANA)

Athens News Agency

[11] Tsohatzopoulos-Burns meeting

Athens 11/11/1998 (ANA)

The visit will take place from Nov. 15 to 21, while the invitation was extended by Lt.-Gen. Paragioudakis' US counterpart Denis Reimer.

Athens News Agency Athens 11/11/1998 (ANA)

The European Commission's press office in Athens yesterday announced a one- day conference on the new regulations for direct funding of non-governmental organisations represented at the European Union. The conference is set for Nov. 27 and the first 250 applicants will be accepted, while applications will be accepted by Nov. 18. Interested parties may contact the Commission's general secretariat at fax: +32-2-296 72 42 or e-mail at [email protected]

Athens News Agency

[12] English edition of book on history of Greek Jewry

Athens 11/11/1998 (ANA)

The event will be addressed by a US historian and professor at Cincinnati University's Jewish Studies department.

The book refers to the longstanding co-existence of two ancient peoples from Alexander's the Great's era until the mass arrivals in Thessaloniki of Sephardic Jews from the Iberian peninsula and the settlement of the victims of the great persecutions in Europe in the 16th and 17th centuries.

The book ends with the Jewish holocaust during World War II and the efforts of citizens, the clergy and of Greek governments during and after the war for the rescue, salvation and restoration of Greece's Jewry.

Athens News Agency

[13] Direct foreign investments in Greece rise to 1.5 bln dlrs in 1997

Athens 11/11/1998 (ANA)

Greece is roughly equivalent to Finland and Portugal in attracting direct foreign investments, according to the 1998 report, released in Athens yesterday at the United Nations office.

Presenting the data was Professor Louka Katseli of Athens University.

Investment inflows in Europe were 115 billion dollars with the lion's share going to the United Kingdom, which scooped up 34 percent of the total.

Three-fifths of direct foreign investments worldwide stemmed mainly from mergers and acquisitions.

In 1997 inflows of direct foreign investments around the world rose 19 percent to 400 billion dollars against the previous year.

Most investments were implemented in developed countries, which absorbed 85 percent of total invested capital. Investment outflows were 424 billion dollars.

Athens News Agency

[14] Avg. rate drops to 7.81 pct in 10-yr bond auction

Athens 11/11/1998 (ANA)

The average weighted rate fell to 7.81 percent from 8.26 percent in the previous auction on September 8.

Traders said the auction met heavy demand. Primary dealers submitted bids totalling 257.5 billion drachmas, exceeding the ministry's target by 1.7 times.

Finally accepted were bids totalling 161 billion drachmas.

Bankers said the decline in long-term rates was a favourable development in the country's effort to achieve the Maastricht Treaty's criteria for participation in the single European currency.

Athens News Agency

[15] Aspis Bank reports 76 pct pre-tax profit surge Jan-Sept

Athens 11/11/1998 (ANA)

The bank's consolidated profits rose to 529 million drachmas in the same period.

Total assets increased 57 percent to 83 billion drachmas, lending rose 59 percent to 54.4 billion, and deposits rose 77 percent to 72.6 billion drachmas.

Aspis Bank's chairman, Efstathios Papageorgiou, said the bank was rapidly implementing a development plan aimed at expanding its network in Greece.

The bank currently operates 15 branches and is planning to open two more in the next three months and another four in 1999.

Mr. Papageorgiou said he expected domestic deposit rates to fall to 3-4 percent and lending rates to 8-9 percent by the end of 1999.

Athens News Agency

[16] Pouliades shows 80 pct profit jump Jan-Sept

Athens 11/11/1998 (ANA)

The group's turnover rose 40 percent to 33.6 billion drachmas, up from 24 billion in the corresponding period of last year.

The parent company's profit totalled 1.6 billion drachmas in January- September, up from one billion in the same period last year, a rise of 60 percent.

Sales were 33 percent higher, rising to 24 billion drachmas from 18 billion drachmas.

The Pouliades Group attributed its high rate of growth and rising stake in the information technology market to the performance of an investment programme implemented since 1997.

The programme aims at expanding services, telecommunications, software production and integrated solutions.

In addition, the company's exports have risen.

Pouliades expects its financial results to improve further following an expected listing on the main market of the Athens bourse, along with the planned entry of its affiliates Despec, PC Systems and CD Media into the stock exchange.

Pouliades forecasts that turnover will exceed 50 billion drachmas for the whole of 1998 with pre-tax profits totalling 2.9 billion drachmas.

Athens News Agency

[17] Greek stocks end flat in moderate trade, banks lift the market

Athens 11/11/1998 (ANA)

The general index ended 0.13 percent up at 2,253.46 points, reversing an early fall.

Turnover was a moderate 41.9 billion drachmas with volume at 9,843,000 shares.

Strong buying interest was seen in blue chip National Bank of Greece, which led the heavily weighted banking sector, reversing a decline in the final minutes of trade.

Sector indices lost ground with the exception of Banks which ended 1.06 percent higher.

Insurance fell 0.22 percent, Investment was 0.38 percent off, Leasing dropped 0.94 percent, Industrials ended 1.07 percent off, Construction fell 1.32 percent, Miscellaneous ended 1.25 percent off and Holding dropped 2.27 percent.

The parallel market index for small cap companies ended 0.71 percent off.

Broadly, decliners led advancers by 151 to 89 with another 22 issues unchanged.

Thessaliki, Hellenic Telecommunications Organisation, Lambrakis Press Organisation and Hellenic Sugar were the most heavily traded stocks.

Babyland, Radio Athina, Klaoudatos, Levenderis, Thrace Plastics, Bitros, Nematemboriki, Sato and Kalpinis hit the daily 8.0 percent limit up.

General Warehouses, Boutaris, Bank of Athens, Maxim, Fintexport, Mesohoritis and Sigalas suffered the heaviest losses.

National Bank of Greece ended at 42,980 drachmas, Ergobank at 26,000, Alpha Credit Bank at 23,400, Ionian Bank at 12,020, Hellenic Telecoms at 6,350, Delta Dairy at 3,655, Intracom at 13,550, Titan Cement at 17,605, Hellenic Petroleum at 2,350 and Minoa n Lines at 6,280 drachmas.

Athens News Agency

[18] Printing ink firm seeks entry into Athens bourse

Athens 11/11/1998 (ANA)

The firm, which is the biggest in the sector in Greece and emerged in 1986 as a continuation of Druckfarben Hellas Printing Colours Industry, will hold an initial public offer (IPO) on November 11-13.

The IPO's consultant is Alpha Finance and the main underwriter, National Bank of Greece.

On issue are 531,720 common shares at 1,200 drachmas each. Of the total, 506,400 shares are on public offer with the remainder destined for a private placement with the firm's staff.

Druckfarben has been awarded the ISO 9001 quality assurance certificate.

Among its activities are the production of ink for flexible packaging, chiefly in foodstuffs, and the distribution of toner.

It also sells auxilliary printing materials and a range of products used in graphics.

The firm plans to expand its production unit in Halkida, set up distribution centres in Athens and Thessaloniki, and purchase new equipment.

Pre-tax profits in 1997 were 263 million drachmas on turnover of 2.9 billion drachmas, against earnings of 250 million drachmas on sales of 2.8 billion drachmas a year earlier.

Druckfarben exports to eastern Europe, the Balkans, Egypt, Turkey and some west European countries.

Exports in 1997 totalled 372 million drachmas, seen rising to 500 million drachmas in 1998, according to company forecasts.

Athens News Agency

[19] Watchdog committee to check 700 public works by end-year

Athens 11/11/1998 (ANA)

The Public Works Quality Control Council will expand its checks following numerous examples of shoddy construction revealed by checks in the first and second quarters, Mr. Pachtas said.

The latest round of controls will be carried out in depth, and irregularities will be penalised.

The penalties will apply equally to engineering contractors, government departments and any other culpable parties, the minister said.

Around 10,000 projects are underway around the country.

Athens News Agency

[20] Car dealerships promise to pass on tax breaks to buyers

Athens 11/11/1998 (ANA)

However, they added that there will be an increase in March, due to car manufacturers' price hikes, not expected, however, to exceed inflation levels of the country of origin.

They also requested further tax decreases by 5 per cent on used cars produced from 1992 to 1996.

Athens News Agency

[21] Macedonian Airways predicts profitable '99

Athens 11/11/1998 (ANA)

Officials said they will sign a contract with several major French tourist agency on Friday for charter flights from airports in Europe, Asia and Africa, while Macedonian's turnover is expected to reach the four-billion- drachmas mark and pre-tax profits are estimated at 400 million drachmas.

Macedonian Airways, operating for five months, has flown 70,000 passengers to various destinations. Plans are also underway to lease two Boeing 737s in order to meet increased demand.

Athens News Agency

[22] Israeli firms to present environmental technology applications at Dec. seminar

Athens 11/11/1998 (ANA)

A total of 15 companies will present the Mideast country's latest technology in the fields of water recycling for agriculture, water desalination, exploitation of solar, geothermal and residual energy, the handling of radioactive materials, purification devices for domestic effluent and contaminants from the emission of gases, technology for dealing with fuel and oil spills, purification of water from chemicals and heavy metals and specialised fishbreeding for combatting pollution.

Presentations will be made by specialists in environmental technology from both Israel and Greece.

Athens News Agency

[23] Karamanlis-Christodoulos meeting

Athens 11/11/1998 (ANA)

The two men reviewed issues related to the role and position of the Orthodox Church, particularly in the Balkans, as well as the issue which has recently arisen with regard to the Orthodox school of theology in Halki, Turkey.

In a recent high-handed move, Turkish authorities decided to abolish the school's supervisory committee.

Referring to the issue, the Archbishop said the Church of Greece stood in solidarity with the Ecumenical Patriarchate over the issue, and spoke of a premeditated plan against the ethnic Greek community in Turkey.

Mr. Karanamlis stressed the need for mobilising Hellenism for a reopening of the school, and referred to a dangerous escalation of Turkey's behaviour, giving rise to feelings of indignation.

"Instead of dynamiting and undermining its own course towards Europe and its recognition as a civilised nation, Ankara should offer a helping hand," he said.

He noted that the course of the Church was inseparably linked with the struggles of the nation, stressing the archbishop's efforts for a rapprochement with youth and his interest in national issues.

He further expressed his surprise over the stand of certain people who seemed to be awkwardly disposed to the Archbishop's positions.

Athens News Agency

[24] AMVER prizes awarded

Athens 11/11/1998 (ANA)

A total of 389 merchant ships belonging to Greek companies participated last year in the international sea rescue system AMVER.

The world-wide AMVER system enables commercial ships to receive an automatic signal via satellite of ships in danger in a radius of 200 miles.

Athens News Agency

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