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Athens News Agency: Daily News Bulletin in English, 99-04-23

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

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

CONTENTS

  • [01] G. Papandreou presents Athens` positions to Albright
  • [02] Tsohatzopoulos: Kosovo solution impossible through only military means
  • [03] Gov`t: No permission asked for NATO warship, planes to pass through territory
  • [04] Gov't denies press report claiming G. Papandreou resignation pending
  • [05] Karamanlis: Yugoslavia conflict the 'wrong war for the wrong reasons'
  • [06] Simitis focuses Kosovo, Cyprus in Washington address
  • [07] Gov`t: Kosovo repercussions on Greek economy can be `absorbed`
  • [08] Kokkalis Foundation to organise conference in Washington on SE Europe security
  • [09] Greece takes delivery of S-300 anti-aircraft system
  • [10] Parliament question on Greek tourism`s prospects
  • [11] South-North cultural debate amid protest against NATO bombings
  • [12] Greece stresses that humanitarian aid should be directed to Serbs, Kosovars
  • [13] Events to be held marking anniversary of Armenian genocide
  • [14] Economic News
  • [15] Athens foreing exchange

  • [01] G. Papandreou presents Athens` positions to Albright

    WASHINGTON, 23/4/1999 (ANA - T. Ellis)

    Foreign Minister George Papandreou reiterated Greece's dual role as a NATO member and a Balkan country during a 45-minute meeting here yesterday with his US counterpart Madeleine Albright.

    Speaking to reporters afterwards, Mr. Papandreou said he presented Athens' priorities, which include a solution to the Kosovo crisis throu-gh diplomatic means, provision of humanitarian aid to Albanians and Serbians affected by the war as well as the re gion's reconstruction following the end of hostilities through a "regional Marshall Plan."

    The Greek foreign minister said Washington did not request from Greece further access to facilities for NATO military operations against Yugoslavia, while he added that in this phase "there is no decision nor intent" to deploy NATO ground forces in Koso vo.

    He also said Ms Albright recognised the special role Greece is playing in dealing with the Kosovo crisis, while praising a Greek initiative dispatching humanitarian aid to the troubled Yugoslav province.

    The Greek FM did not exclude the possibility that Athens' open channels with Belgrade could lead to a mediating role in solving the crisis.

    "We have stressed our will to help in whichever phase a mediator is needed, and the US believes that at some point Greece will be needed to play that role," he said.

    Mr. Papandreou also stressed Greece's view that the United Nations can play an important role.

    Answering to a relevant question by a Turkish reporter, Mr. Papandreou said he has had close cooperation with Turkish FM Ismail Cem in confronting the Kosovo crisis, saying he believes cooperation between the two countries will crucially influence the " day after".

    He also called attention to this cooperation as an example that if bilateral are based on respect of international law their bilateral cooperation will be mutually beneficial.

    He added that he will meet with Mr. Cem, as Prime Minister Costas Simitis will meet with Turkish President Suleyman Demirel at a social level during the NATO summit, although there will not be an official bilateral meeting.

    Mr. Papandreou explained that a proposal for a Balkan conference in Athens will have as its aim the reconstruction of the region.

    Athens News Agency

    [02] Tsohatzopoulos: Kosovo solution impossible through only military means

    Washington, 23/4/1999 (ANA - T. Ellis)

    Three can be no ultimate solution of the Kosovo crisis through military means only and political means are also required, National Defence Minister Akis Tsohatzopoulos said yesterday in an address to the US-British Security Information Council here yesterday.

    He stressed that Greece would not be taking any part in any military operations and that Yugoslavia had to accept the deployment of an international force in Kosovo.

    ``There is no doubt who created the crisis and this in Yugoslavia. It must now accept the deployment of an international force in Kosovo which will secure the safe return of refugees, as well as the withdrawal of Serbian forces``, he said.

    He emphasised Greece`s initiative for the despatch of humanitatian aid, which could open ``a diplomatic window`` for the defusion of the crisis.

    The Greek minister also reiterated Athens` opposition to a change of borders in the region, saying that he did not agree that minoritie were entitled to press for such changes on the justification of any problems they possibly faced in human rights.

    Referring to European security architecture, Mr. Tsohatzopoulos said the Western European Union could play a role in cooperation with NATO, adding that the alliance needed a legal and political framework in which to operate.

    Athens News Agency

    [03] Gov`t: No permission asked for NATO warship, planes to pass through territory

    Athens, 23/4/1999 (ANA)

    Athens has not been asked for permission for the US aircraft carrier ``Eisenhower`` to pass through Greek territorial waters or for NATO planes involved in the bombings of Yugoslavia to pass through Greek air space, Deputy Defence Minister Dimitris Apostolakis said in Parliament yesterday.

    Mr. Apostolakis was responding to a question from Communist Party of Greece (KKE) deputy Nikolas Gatzis on whether the government was planning to allow NATO authorities to use Greek airports for military operations.

    Mr. Gatzis cited reports that Greece would allow the USS Eisenhower to dock in the Thermaikos Gulf.

    Mr. Apostolakis reiterated the government`s position that Greece would not participate in land or air military operations but that it would be faithful to its contractual oblications to NATO and all international organisations.

    Regarding an embargo on oil shipments to Yugoslavia, Mr. Apostolakiw said Greece`s objections had been noted but that further objections were pointless, as a decision would be taken by majority and not unanimously.

    Athens News Agency

    [04] Gov't denies press report claiming G. Papandreou resignation pending

    Athens, 23/4/1999 (ANA)

    The government yesterday denied a press report that Foreign Minister George Papandreou would resign his post to lead the ruling PASOK party's Europarliament candidate list in June.

    "There is no such issue," acting government spokesman Nikos Athanasakis said.

    "Mr. Papandreou is exercising his duties with the utmost success."

    The Athens daily "Exousia" claimed Mr. Papandreou would resign as foreign minister to lead the candidate list at June's Euro-elections and then be appointed to the European Commission.

    Athens News Agency

    [05] Karamanlis: Yugoslavia conflict the 'wrong war for the wrong reasons'

    Athens, 23/4/1999 (ANA)

    Main opposition New Democracy leader Costas Karamanlis yesterday called the conflict in Yugoslavia the "wrong war conducted for the wrong reasons", during a speech in the Zografou municipality. Mr. Karamanlis said the situation is dangerous and could lead the region to destabilisation, in essence leading to the violation of human rights, since as he said, hundreds of thousands of people became homeless. He also said that Europe is limited to the role of the "movie extra" and noted that Greece is the only country, which knows the region and its dangers, while it will have to live with the negative impact on its economy and the possible massive influx of refugees.

    Mr. Karamanlis said Greece's position is weak because of the events preceding the war, such as the Ocalan affair.

    Athens News Agency

    [06] Simitis focuses Kosovo, Cyprus in Washington address

    WASHINGTON, 23/4/1999 (ANA - S. Liarellis)

    The Kosovo crisis is the greatest human tragedy in Europe since World War II, Prime Minister Costas Simitis said in address at the Woodrow Wilson Foundation here yesterday.

    Mr. Simitis said that all have a duty to put an end to the crisis and the refugees' drama, adding that the continuous use of force cannot lead to a permanent solution.

    "For this reason, Greece urges its allies in NATO on a new peace initiative, seeking a political solution, aimed at the restoration of stability in the region," he said.

    Mr. Simitis reiterated that Greece will not participate in military operations, being a neighbouring country, stressed categorical support for wide autonomy for Kosovo and opposition to the "ethnic cleansing" policy folowed by Serbia. He further stresse d the need for refugees to stay close to their homes and set out Greece's initiatives for humanitarian aid to be provided.

    Referring to Greek-Turkish relations, Mr. Simitis said they are governed by the principles of international law, reiterated that Turkish claims can be referred to the International Court at The Hague and pointed out that they are being aggravated by the escalation of Turkish allegations.

    "Turkey, due to the extent of the political crisis existing inside it (confrontation between Islamists and Kemalists, the Kurdish issue, human rights, hostile attitude towards Greece), is playing a destabilising role in the region and constitutes a seri ous threat to Greece's sovereign rights. Consequently, our country spends a considerable part of its national resources on armaments," he said.

    Mr. Simitis reiterated that Greece desires a democratic Turkey which will respect human rights, the terms and conditions which are valid for the EU's members and candidate countries.

    On the question of Cyprus, he said it remains a national priority and a solution in accordance with UN resolutions constitutes a basis.

    Mr. Simitis highlighted Greece's role in the Balkans, saying that being a member-state of NATO and the EU in the region of southeastern Europe, it constitutes a factor of stability and cooperation and exercises a foreign policy of principles (respect fo r international law, acceptance of international organisations, etc).

    The topic of the Prime Minister's address was "Greece and the new millennium- a starting point for a new course."

    Replying to questions from the audience, Mr. Simitis said the issue of ground operations has not even been discussed at NATO and reiterated that Greece is "not participating and will not participate in military operations in the future with its forces."

    Mr. Simitis said the situation in the Balkans is becoming more difficult for countries near the location of the crisis.

    "Kosovo is far for the US. However, for us it is like the distance between New York and Washington. If you had a war in New York, you would also be thinking differently," he said.

    Mr. Simitis underlined the refugee problem and said economic repercussions are great for countries in the region.

    He said the Greek economy is strong enough to achieve its targets, but added that already there were repercussions, such as in tourism.

    Mr. Simitis stressed the need for new initiatives for a political solution since there were unanswered questions, such as whether the international force will be either NATO's or the UN's or will be ad hoc or who will be responsible for the refugees' re turn. He also pointed out that ethnic cleansing must stop.

    Responding to another question on the percentage of the Greeks' reaction to the bombings, as recorded in opinion polls, Mr. Simitis said Greeks have friendly feelings for the US, but the situation is changing due to the bombings, adding that if the bomb ings continue there will be anti-NATO and anti-American feelings among the Greek people.

    Athens News Agency

    [07] Gov`t: Kosovo repercussions on Greek economy can be `absorbed`

    Athens, 23/4/1999 (ANA)

    The government said yesterday that repercussions of the crisis in Yugoslavia on the Greek economy were not considered to be serious and could be "absorbed".

    "The consequences which the crisis may have on the Greek economy, contrary to what has been presented by some sides, are not considered to be serious, " acting government spokesman Nikos Athanasakis said, adding that any repercussions could be absorbed.

    "Nothing can prevent us from attaining the major targets which we have set, " Mr. Athanasakis said, referring to Greece's bid to join EMU.

    Advising calm, he intimated that rumours were being spread "not out of any interest in the economy, but for more practical reasons of everyday life".

    Asked by reporters about reports in yesterday's press concerning the formation of a special army corps for participation in operations in Yugoslavia, Mr. Athanasakis said the 501 infantry battalion was being prepared in accordance with a decision taken some time ago by the Greek side, to take part in a peacekeeping force in the event of agreement between the warring parties.

    Replying to other questions, Mr. Athanasakis said the Former Yugoslav Republic of Macedonia (FYROM) had requested the assistance of the Greek army in setting up a refugee camp in the neighbouring country. He added that the request had been accepted.

    Asked whether NATO had placed an "embargo" on information to Greece, the spokesman replied that Greek officers were being informed about the results of operations after they had been carried out.

    Information prior to operations is being provided to the officers of countries which are participating in the operations, he added.

    Athens News Agency

    [08] Kokkalis Foundation to organise conference in Washington on SE Europe security

    Athens, 23/4/1999 (ANA)

    The Kokkalis Foundation will organise a conference on security in southeastern Europe in Washington from April 25-27, in cooperation with the Fletcher Diplomacy Academy.

    The conference will be attended by Romanian President Emil Konstantinescu (who is visiting the Harvard University in the framework of the programme "Socrates Kokkalis" for southeastern Europe), as well as Foreign Minister George Papandreou (who will mak e an address on April 25 in the evening) and National Defence Minister Akis Tsohatzopoulos (who will make his address on April 26), while the participation of the Yugoslav Ambassador to the UN Vladislav Jovanovic is interesting.

    Athens News Agency

    [09] Greece takes delivery of S-300 anti-aircraft system

    Athens, 23/4/1999 (ANA)

    The Russian-made S-300 anti-aircraft system has arrived in Crete, the government announced yesterday.

    Acting government spokesman Nikos Athanasakis told reporters that the missile system had arrived in Crete but declined to provide details.

    Originally ordered by Nicosia to bolster Cypriot defences, the anti- aircraft missile system drew criticism from the United States and European countries which feared that it would increase tension in the region.

    Turkey had openly threatened to prevent their deployment by force. There were also fears in Athens and Nicosia that deployment of the S-300 might harm Cyprus' EU accession prospects.

    Cypriot President Glafcos Clerides in late 1998 decided against deploying the missiles on the island. Following Mr. Clerides' decision, the Greek government said it would take delivery of the missiles and deploy them on Crete.

    Athens News Agency

    [10] Parliament question on Greek tourism`s prospects

    Athens, 23/4/1999 (ANA)

    Indications concerning the Greek tourism seaseon continue to be encouraging despite the crisis in Yugoslavia, Alternate Foreign Minister yiannos Kranidiotis said yesterday in response to a question tabled in Parliament.

    Coalition of Left and Progress deputy Yiannis Dragasakis asked the government what meassure it has taken to have Washington repeal its executive order designating the northern Ionian as a ``waw zone``.

    Despite the drisis in Yugoslavia the messages received by the development ministry from the National Tourism Organisation of Greece (EOT) offices abroad on tourist movement to Greece ``remain encouraging``, Mr. Kranidiotis said.

    The only exception, he added, was the US market which was showing a 50 per cent reduction in foreign travel in general.

    Regarding the losses suffered by Greek enterprises due to the Yugoslav conflict, Mr. Kranidiotis said the government was taking ``all the necessary steps`` and had already brought the issue up in the European Union for discussion after the crisis had ended.

    Concerning the ``executive order``, Mr. kranidiotis reiterated that it was an internal affair of the US and did not ``greate international lawful actions``.

    Athens News Agency

    [11] South-North cultural debate amid protest against NATO bombings

    Athens, 23//4/1999 (ANA)

    Speakers at an Athens event yesterday evening focusing, ironically, on the issue of north-south differences among cultures were barely audible as a vociferous anti-NATO, pro-peace rally was being held outside the venue by a few thousand protesters.

    The backdrop of loudspeakers, red banners and Serbian flags outside the downtown Athens hotel hosting the event punctuated an address by international relations professor Theodore Couloumbis, who touched on the Kosovo crisis and its relation to the now often-quoted theories citing distinct differences between the "Slavic Orthodox" and Islamic Balkans with the West. "Recent developments have both challenged and confirmed the Cassandran and atavistic prophesies of thinkers fitting the Kaplan/Huntington p aradigm," Mr. Couloumbis, who is also the director of the Hellenic Foundation of European and Foreign Policy (ELIAMEP) stressed, in obvious reference to the theories popularised by New York-based journalist Robert Kaplan ("The Balkan Ghouts") and Harvard professor Samuel Huntington ("The Clash of Civilizations and the Remaking of World Order").

    "...Whatever the calculations of both sides to this conflict that pits NATO against (Slobodan) Milosevic, the whole affair can be described as a thankless process of accelerating instability and violence in the name of stability and peace.

    "The major flaw in NATO's pre-bombardment calculations was perhaps the assumption that Slobodan Milosevic would 'blink' either as a result of the threat or of the materialisation of aerial operations," he said, adding: "Apparently, not enough thought wa s given to the contingency that the power-loving, authoritarian leader would rather take the punishment than accept the Rambouillet package and risk losing his job."

    Entitled "Southern vs. Northern Dimension - A Clash of Cultures?", the event was part of a string of discussions organised by the Helsinki Series Debate in light of Finland's assumption of the rotating EU presidency in the second half of 1999. Besides o pening comments by Finland's ambassador to Athens, Arto Tanner, former Finnish premier Harri Holkeri addressed the issue of "New Dimensions in Europe", while Helsinki Mayor Eva-Riitta Siitonen described her city and its significance in the Baltics and "a revitalised" northern Europe.

    Athens News Agency

    [12] Greece stresses that humanitarian aid should be directed to Serbs, Kosovars

    Athens, 23/4/1999 (ANA)

    Humanitarian aid to Yugoslavia should be directed towards both the Serbs and the Kosovar refugees, Health Minister Theodoros Kotsonis said yesterday.

    "We are neither with the Serbs nor the Kosovars. We are helping all people tried by this inexplicable war," he told a session of health ministers of Council of Europe member-states in Athens.

    The session, whose main agenda item was prospects for the elderly in the 21st century, also dealt with the effects of the war in Yugoslavia.

    Speakers generally appeared unaware of many aspects of the adverse effects of the NATO bombing, with most of them referring to the plight of refugees.

    The representative of the German health ministry said he had received no information on the possibility of toxic pollution and environmental damage in the Balkans.

    Hungarian Minister Gogac said his country was doing everything possible to help the refugees, and when asked if it intended to send assistance to Serbia as well, he said this was a political issue. Asked on the effects of the bombing on the environment , he said Hungary is distant enough not to be affected, and that this was one of the last things that should cause concern when people were "killed and kicked out of their homes."

    FYROM representative Markovinski said his country was in a dramatic situation because of the swelling number of refugees, and stressed the danger of epidemics, describing the aid from Europe as minimal.

    French Health Undersecretary Bernard Kouchner praised the activities of the Greek branch of the Medecins du Monde organisation in the Pristina hospital.

    "Thanks to the actions of the Medecins du Monde-Greece organisation, all the Albanian-speaking and Serbian communities will have access to the Pristina hospital," he said.

    MDM-Greece on Wednesday sent a new convoy of humanitarian aid to the hospital, comprising three truckloads of foodstuffs and medical supplies weighing 40 tons, and accompanied by three Greek doctors.

    Athens News Agency

    [13] Events to be held marking anniversary of Armenian genocide

    Athens, 23/4/1999 (ANA)

    The Armenian National Committee in Greece is organising in Thessaloniki a three-day series of events for the 1915 genocide of the Armenian people by the Neoturk government.

    The event marking the 84th anniversary of the genocide will begin on April 24, day of rememberance for the death of 1.5 million Armenians at the hands of the Neoturkish governement forces.

    On Sunday, second day of the events, Sacramento California Greek Studies Programme Chairman Spyros Vrionis will speak on "The Armenians, the Greeks and the Turkish propaganda in the American higher eduction."

    Athens News Agency

    [14] Economic News

    Athens, 23/4/1999 (ANA) Central bank chief says monetary policy intact: Bank of Greece governor Lucas Papademos said yesterday that monetary policy would remain unchanged and retain its goal of taking the country into the euro zone, but new measures would be taken if necessary.

    "The attainment of monetary stability and the general aim of Greece's entry into the euro zone mean that the anti-inflation drive by all parties cannot slacken, even a little," Mr. Papademos told a parliamentary committee.

    "Timely corrective measures (will be taken if needed) to allow adequate safety margins for attainment of the final objective," he added. No new steps were needed at the moment and the measures already taken were tough, the governor said.

    Parliament's economic affairs committee is discussing the central bank's report on monetary policy in 1998 and 1999.

    Mr. Papademos said that the repercussions of the Yugoslav crisis on the Greek economy had not been studied in detail.

    If Greece remained stable, then financial markets would not be affected, he said.

    Bond sales by foreign investors in the last 25 days were limited, and so was the impact on prices, Mr. Papademos said.

    An estimated 200 billion drachmas' worth of bonds that were sold was a minor sum compared to the holdings of foreign investors totalling trillions of drachmas, he added.

    The Athens Stock Exchange had shown volatility and resulting corrections, but foreign investors had not linked the outlook for the Greek economy to businesses in Kosovo, he said.

    Mr. Papademos was optimistic that inflation would continue its decline and hold steady in about a year at new, lower levels that would meet alignment criteria with the European Union.

    The possible threats to the decline in inflation were a rise in fuel prices and the beneficial impact of reductions in indirect taxation falling out of the calculation between September this year and January 2000.

    Mr. Papademos urged commercial banks to cut back credit growth in order to aid the anti-inflation drive, warning that they would be penalised if they overstepped the 12 percent growth target in line with recently adopted measures.

    Greece sees closer economic ties with FYROM: Deputy National Economy Minister Alexandros Baltas said yesterday that further economic cooperation was possible with the Former Yugoslav Republic of Macedonia (FYROM) on his return from a visit to the neighbouring country.

    There was room for closer ties in financial services, energy, engineering, telecommunications, transport, joint ventures and exchanges of know-how, Mr. Baltas said.

    Greece is one of the biggest foreign investors in FYROM with direct investments totalling 70 million US dollars.

    Greek investments have created or safeguarded around 4,000 jobs, expected to exceed 5,000 on completion of projects in progress.

    The investments in number are mostly concentrated in the consumer goods and clothing sectors.

    Some major Greek-funded investments in FYROM are as follows:

  • Acquisition of 80 percent of USJE Cement by Titan Cement with Holderbank of Switzerland for 52 million DMarks - the biggest foreign investment in FYROM by the end of 1998
  • Acquisition of Strumnica Tabac by Mihailides A. Tobacco for 8.58 million DM, and the purchase of 10 million US dollars' worth of tobacco
  • The Mytilineos Group has signed an agreement worth six million dollars to operate the Zletovo and Sasa lead and zinc mines, rising to an anticipated 12 million dollars when equipment is included
  • Acquisition of 61 percent of Pivara Skopjie brewery by Balkanbru Holding Ltd, a joint venture between Hellenic Bottling and Athens Brewery, for 32 million dollars
  • Operation by Veropoulos, a Greek supermarket chain, of two outlets in Skopje called VERO for 10 million DMarks
  • Joint venture called Nikas Skop by Nikas of Thessaloniki and a local partner in a seven million DMark investment to build a plant
  • Delta Dairy has invested nearly five million DMarks to set up an ice- cream imports and distribution company
  • Lazaridis Marbles has invested 1.5 million DMarks in a joint venture with a local partner.

    Current account deficit narrows in Jan-Oct 1998: The current account deficit narrowed in January-October 1998 to 3.190 billion dollars from 4.613 billion dollars in the same period of 1997, down by 1.4 billion dollars, the Bank of Greece said yesterday.

    The central bank attributed the improvement to a drop in the trade deficit by 864 million dollars and a rise in the surplus of invisibles by 559 million dollars.

    A major factor in the trade deficit's decline was lower spending on net fuel imports by 664 million dollars.

    The rise in the surplus of invisibles was due mainly to an increase in foreign currency revenue from tourism and net receipts from the European Union.

    Net capital inflows in the 10-month period were 7.8 billion dollars against 3.2 billion dollars in the same period of 1997.

    The increase was due mainly to the high level of purchases of state securities by investors abroad.

    In September-October 1998, the current account deficit grew to 451 million dollars from 405 million dollars a year earlier.

    Foreign currency reserves at the end of March totalled 21.5 billion dollars, the central bank said.

    Stocks slump again in Kosovo doldrums: Equity prices continued losing ground yesterday extending their losing streak for the sixth consecutive session.

    The general index ended 2.05 percent down at 3,281.96 points, raising its six-day loss to 12.07 percent.

    Turnover was a little over 100 billion drachmas, reflecting a reluctance by investors to open new positions in the market.

    Traders said disappointment over a lack of progress in the Kosovo crisis combined with tension in the domestic bond market discouraged trading in stocks.

    Sector indices suffered losses.

    Banks dropped 2.59 percent, Leasing fell 0.95 percent, Insurance ended 2.76 percent off, Investment eased 1.97 percent, Construction plunged 2.73 percent, Industrials dropped 1.96 percent, Miscellaneous fell 3.13 percent and Holding ended 1.82 percent off.

    The parallel market index for small cap companies ended 3.20 percent down.

    Leading banking shares and industrials came under heavy pressure to end substantially lower.

    Among them were Commercial Bank, Ergobank, Ionian Bank, Intracom and Titan Cement. Hellenic Telecoms, however, ended sharply up. Turnover was 106.561 billion drachmas on 21,111,270 shares traded. Broadly, decliners led advancers by 238 to 47 with anot her 13 issues unchanged. Macedonian Textiles, Hellenic Telecoms, Eskimo and Benroubi were the most heavily traded stocks.

    Sato, Hermes, Hellas Can, Athinea, Daring, Minerva and Rilken scored the biggest percentage gains hitting the day's 8.0 percent limit up.

    Elfico, Mouzakis, Demetriades, Desmos, Epilektos, Endysi, Atemke, Elve Clothing and Maxim hit the day's 8.0 percent limit down.

    The FTSE/ASE 20 index dropped 1.95 percent to 2,055.93 points.

    National Bank of Greece ended at 19,510 drachmas, Alpha Credit Bank at 19, 700, Ergobank at 24,900, Ionian Bank at 16,755, Titan Cement at 21,400, Hellenic Petroleum at 2,265, Intracom at 17,205, Minoan Lines at 7,090, Panafon at 7,315 and Hellenic Telec oms at 6,655.

    Bonds still jittery over Kosovo: Bonds in the secondary market were steadier in most of yesterday's session following a plunge a day earlier but dived again in the last 10 minutes of trade. Some investors abroad sold paper before the last 10 minutes but the atmosphere was calmer than t he previous day.

    However, talk from London of Russian involvement in the Kosovo crisis swept through the bond and foreign currency markets, and market makers stopped displaying prices on their screens.

    In late trade, prices had shed around 100 basis points, taking the yield spread with German bunds to 215 basis points from 210 earlier.

    For the second straight day the yield spread exceeded the 2.0 percent maximum eurozone alignment target.

    Electronic trade was 148 billion drachmas from 207 billion drachmas in the previous session and 50 billion drachmas on Tuesday. Turnover until the last 10 minutes was 94 billion drachmas.

    At the same time as panic hit the bond market, players were dumping drachmas, driving down the national currency against the euro.

    At the central bank's daily fix, the euro ended at 326.710 drachmas from 325.890 drachmas in the previous trading session. Earlier, the euro had hit 327.40 drachmas.

    Money market rates in both short and long terms held steady.

    Firms club together ahead of 2004 Olympics: A group of companies yesterday agreed to form a consortium that will offer integrated sports, cultural and tourist services ahead of the 2004 Olympic Games to be hosted by Athens.

    The consortium's share capital is 100,000,000 drachmas to be equally divided among each firm or group.

    The members of the consortium are the Minos Kyriakou Group, the Vassilis Konstanakopoulos Group, the Bold-Asset Group, the Goldair Group, the Airtour Greece Group, Aktina Travel, Afea Travel and GS Travel.

    Athens News Agency

    [15] Athens foreing exchange

    Athens, 23/4/1999 (ANA)

    Banknotes        Buying          Selling
    US Dollar        305.318         312.397
    Can.Dollar       205.284         210.044
    Australian Dlr   197.919         202.508
    Pound Sterling   490.306         501.674
    Irish Punt      411.517          421.059
    Pound Cyprus    559.488          572.460
    Pound Malta     730.565          761.005
    Turkish pound (100) 0.072          0.075
    French franc     49.409           50.554
    Swiss franc     202.482          207.177
    Belgian franc     8.034            8.220
    German Mark     165.708          169.550
    Finnish Mark     54.509           55.773
    Dutch Guilder   147.069          150.479
    Danish Kr.       43.610           44.621
    Swedish Kr.      36.402           37.246
    Norwegian Kr.    39.236           40.145
    Austrian Sh.     23.553           24.099
    Italian lira (100) 16.738         17.126
    Yen (100)        253.992         259.881
    Spanish Peseta     1.948           1.993
    Port.  Escudo      1.617           1.654
    euro
    Buying: 324.096 Selling: 331.611
    Gold Sovereign (rates in Drachmas)
    Old mint: 20930 (b), Elizabeth up to 1973: 20620 (b), Elizabeth of
    1974 and onward mints: 20620 (b), 22160 (s)
    GOLD (in dollars per ounce) London: 283.65 New York: 283.25
    
    Foreign Exchange Buying Selling
    New York 305.318 312.397
    Montreal 205.284 210.044
    Sydney 197.919 202.508
    London 490.306 501.674
    Dublin 411.517 421.059
    Nicosia 559.488 572.460
    Paris 49.409 50.554
    Zurich 202.482 207.177
    Brussels 8.034 8.220
    Frankfurt 165.708 169.550
    Helsinki 54.509 55.773
    Amsterdam 147.069 150.479
    Copenhagen 43.610 44.621
    Stockholm 36.402 37.246
    Oslo 39.236 40.145
    Vienna 23.553 24.099
    Milan 16.738 17.126
    Tokyo 253.992 259.881
    Madrid 1.948 1.993
    Lisbon 1.617 1.654
    
    Athens News Agency

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