Athens News Agency: Daily News Bulletin in English, 00-04-19

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

CONTENTS

[01] Papandreou, Stability Pact's Hombach agree to June 10 meeting

[02] Southeastern Europe Stability Pact programs probed

[03] Defense minister holds talks with Peres, Hombach

[04] Simitis confers with GSEE head

[05] Timetable for EMU negotiations outlined

[06] US Congressman Tom Campbell visits President Stephanopoulos

[07] President Stephanopoulos to visit Canada in May

[08] Karamanlis expected to announce party political strategy on Wednesday

[09] Group of EPP Euro-deputies praise Cyprus' progress, refer to Turkey

[10] Turkish business reps to Athens for trade fair

[11] Bulgaria, Romania to use Kavala port for exports

[12] National Bank's net profit up 22.9 pct in 1st quarter

[13] Ionian Bank shareholders OK merger with Alpha, name change

[14] Hyatt Regency takes equity stake in Lampsa

[15] Greek stocks end volatile session sharply lower

[16] Capital Markets' Committee to announce measures by the end of the week

[17] Industrialists see Athens bourse rising long-term

[18] British playwright Pinter receives honorary degree by Thessaloniki University

[19] Int'l praise for establishment of much-needed traffic safety council

[20] Panathinaikos qualifies for European Basketball Championship final

[21] European deputies send clear messages to Cyprus and Turkey

[22] Time is ripe 'for serious negotiations' leading to Cyprus solution

[01] Papandreou, Stability Pact's Hombach agree to June 10 meeting

Athens, 19/04/2000 (ANA)

Papandreou met with Hombach on the sidelines of an international round-table discussion focusing on the situation in SE Europe and the eastern Mediterranean, organized by the Economist magazine.

Both men exchanged views on the recent Stability Pact donor nations conference last month in Brussels, which according to Papandreou, surpassed all our expectations, something that demonstrates the political will for the further promotion of reconstruction and stability in the Balkans.

He also reiterated that since the beginning of the crisis in Kosovo, Greece has promoted the creation of a wide-ranging program for stability and development of the greater region, while also noting that Athens has pledged some 150 million euros over the next two years for Balkans reconstruction.

On his part, Hombach praised Greeces stabilizing role in the Balkans as well as Papandreous efforts. He also said that Greece is one of the Stability Pacts most significant partners, while he noted that Athens influence has also proved very beneficial to us. Finally, asked if Yugoslavia will be invited to the June 10 meeting, he responded by saying that if by then (Yugoslav leader Slobodan) Milosevic has left, well be glad to have Yugoslavia; if he remains in power then its (Yugoslavias) chair will remain empty.

[02] Southeastern Europe Stability Pact programs probed

Athens, 19/04/2000 (ANA)

Participating special Stability Pact coordinator Bodo Hombach said he wishes to "declare war against slothfulness and bureaucracy, which are preventing the immediate implementation of programs anticipated by the Stability Pact for the reconstruction of southeastern Europe."

Hombach said the transition to program implementation is a priority and precondition for holding the second conference on the region.

"Only when the results of the first conference are visible will we be able to proceed effectively with the implementation of the second. The programs were processed in the framework of consensus and we are responsible for giving explanations on every day that passes without their implementation starting," he said.

On the question of the Stability Pact, he said that its prime target are the countries belonging to the specific region to create suitable preconditions to enable them to join the ranks of the European Union at some time.

Referring to the five-year Balkan economic reconstruction plan prepared by the Greek government, new Deputy Development Minister Alexandros Kalafatis said the specific program will reach 180 billion drachmas and will contribute decisively to the development of countries in the region. Both public and private sectors will participate in its funding, while it will be implemented over the 2000-2004 period.

The amount of 17 billion drachmas will be provided for Albania, 18.5 billion for Bulgaria, 25.5 billion for the Former Yugoslav Republic of Macedonia (FYROM), 24 billion for Romania, 25 billion for Kosovo and 75 billion for the Federal Republic of Yugoslavia. Social infrastructures, economic infrastructures and production sectors will be sectors eligible for support.

Addressing the congress, the President of ENKA Holding and the Greek-Turkish Business Council Sarik Tara stressed the need for improving the wider business environment to enable the development of countries in southeastern Europe and the eastern Mediterranean.

[03] Defense minister holds talks with Peres, Hombach

Athens, 19/04/2000 (ANA)

Peres, a former Israeli Prime Minister and Nobel peace laureate, arrived in Athens on Monday on a three-day visit to participate in a round-table discussion on "Reconstruction, Development and Security in SE Europe and the Eastern Mediterranean".

Tsohatzopoulos said after the meeting that Greece's and Cyprus' further cooperation with Israel, in the framework of the European Union and the countries of the eastern Mediterranean would contribute to stabilization of the region.

The defense minister also met Monday with the EU's coordinator for the SE Europe Stabilization Pact, Bodo Hombach, with whom he exchanged views on the course of materialization of the Pact and on the situation in the troubled Yugoslav province of Kosovo.

Tsohatzopoulos and Hombach agreed that the developments in Kosovo could realistically be handled, but Tsohatzopoulos added, "time and consistent implementation of the policy we are following is necessary".

[04] Simitis confers with GSEE head

Athens, 19/04/2000 (ANA)

The meeting with GSEE head Christos Polyzogopoulos comes in light of Simitis' upcoming policy statements on the direction his new government will follow.

A meeting with Council of Overseas Hellenes (SAE) President Andrew Athens followed.

Simitis also met with former Israeli premier Shimon Peres.

[05] Timetable for EMU negotiations outlined

Athens, 19/04/2000 (ANA)

The Union's monetary committee will convene on May and is expected to focus on the issue for the first time, officially. Other crucial meetings are scheduled for May 26 in Brussels.

The ECOFIN council of ministers, meanwhile, will meet on June 5 before a new round of negotiations, contacts and the tabling of various reports on the state of the Greek economy.

[06] US Congressman Tom Campbell visits President Stephanopoulos

Athens, 19/04/2000 (ANA)

Kaklamanis thanked Campbell for his positive stance on Greek national issues and on his initiatives for the return of the Parthenon Marbles. He also underlined the continuing occupation of 40 percent of Cyprus by Turkey and called on the US to pass from the stage of mere statements and wishes for a just solution to the Cyprus issue to the field of taking tangible measures and decisions.

According to an announcement by Parliament, Campbell said that both he and many of his colleagues disagreed with President Bill Clinton's decision to embark on war in Kosovo with NATO without the consent of Congress. On the question of Cyprus, Campbell attributed the unwillingness of the US to resolve the problem to open support for Turkey due to the Soviet threat. However, he added that Washington's position should be radically altered now.

[07] President Stephanopoulos to visit Canada in May

MONTREAL, 19/04/2000 (ANA - I. Frangouli)

Stephanopoulos is scheduled to meet with the country's Greek ex-patriate community leaders, at the sidelines of his official meetings with Canada's state leadership.

He is expected to arrive in Ottawa on May 27 and participate in a Greek Orthodox Liturgy in the city's cathedral on May 28, while on May 29 he is to meet with Clarkson.

The Greek president, accompanied also by 30 Greek businessmen, will also visit Toronto and Montreal.

[08] Karamanlis expected to announce party political strategy on Wednesday

Athens, 19/04/2000 (ANA)

ND spokesman Aris Spiliotopoulos said on Tuesday that Karamanlis would announce his decisions, aiming at "the dynamic and effective course of the party for the upcoming period as the new political stage is being shaped".

He added that the government has adopted the proposals of ND's government program, adding that an example of just such a case was the cancellation of high-school aptitude tests.

[09] Group of EPP Euro-deputies praise Cyprus' progress, refer to Turkey

BRUSSELS, 19/04/2000 (ANA - M. Spinthourakis)

The Euro-deputies, who were participating in a joint EU-Cyprus parliamentary session, also praised the Cyprus government for what they called "significant progress" in implementing the EU's acquis communautaire into the island republic's legislation. Other topics discussed between the Euro-MPs and their Cypriot counterparts included the vital sector of offshore companies and banking as well as maritime safety.

Among the Greek Euro-MPs participating in the session were Antonis Trakatellis and Yiannis Marinos.

[10] Turkish business reps to Athens for trade fair

ISTANBUL, 19/04/2000 (ANA-A.Kourkoulas)

"The initiative for stable peace between Greece and Turkey must be taken by citizens of both countries," the chamber's president said.

The members of the 210-strong delegation will hold talks with Greek business representatives on cooperation in tourism.

Also on the agenda are a proposal the delegation will make to the Athens Chamber of Commerce and Industry that the two associations should set up a working group to improve relations between Greece and Turkey and arrange a Greek-Turkish trade fair in Ankara next year.

[11] Bulgaria, Romania to use Kavala port for exports

Athens, 19/04/2000 (ANA)

Bulgarian and Romanian officials urged for the completion of road projects in Northern Greece citing the substantial cut in distances offered and the opportunity for the two Balkan countries to enter the wider European Union road network system.

The conference was attended by delegations from Greece, Bulgaria, Romania, Ukraine, Moldova, Russia and Turkey. Portugals ambassador in Romania represented the EU.

The EU ambassador stressed the importance given by the EU in efforts to rapidly strengthen economies in the Black Sea region with the aim to participate in a single Europe at its next expansion round.

Greece has been chosen as EU's link with the region with an upgraded economic and political role, he said.

[12] National Bank's net profit up 22.9 pct in 1st quarter

Athens, 19/04/2000 (ANA)

Theodore Karatzas, the bank's governor, said that profit outlook was satisfactory for the current year.

A general shareholders' meeting approved a plan for a share capital increase, worth 94.4 billion drachmas, and a four-to-10 share offer to shareholders. The meeting also approved plans to issue a new series of bond issues.

Karatzas expressed his optimism over a positive outcome in a bid to acquire Bulgarian bank UBB.

Referring to the stock market, Karatzas reiterated his position that since the stock market reflected the country's real economy, any downward correction in stock prices would be temporary.

Karatzas told television stations on Tuesday that several share prices were currently trading at very attractive levels on the Athens bourse.

[13] Ionian Bank shareholders OK merger with Alpha, name change

Athens, 19/04/2000 (ANA)

Alpha Credit had bought Ionian a year ago in a government privatization tender. Both banks are listed on the Athens bourse.

The shareholders' approval marked the final step in the legal merger of the two banks, and was also Ionian's last shareholders' meeting.

The banks' operational merger is due for completion by the end of August at the latest, Alpha Bank chairman Yiannis Costopoulos told Ionian's shareholders.

Alpha Bank will have 500 branches and a 20 percent market share of assets, making it the second largest commercial bank in the country.

Brokerages and mutual fund management subsidiaries of both banks are also being merged.

Costopoulos added that the Alpha Bank Group posted first quarter profits of 42 billion drachmas.

[14] Hyatt Regency takes equity stake in Lampsa

Athens, 19/04/2000 (ANA)

Hyatt Regency said that cash surplus and limited borrowing covered the purchase. The company stressed that the acquisition was a timely decision and at a good price for its shareholders.

Hyatt said it would seek to increase its stake in Lampsa and that it would submit its business plan for the Grande Bretagne hotel to Lampsa's shareholders soon.

Hyatt Regency reported that its operating profits increased 12 percent in the first quarter of 2000 despite adverse conditions in the stock market and it reflected profits from its casino and hotel operations.

[15] Greek stocks end volatile session sharply lower

Athens, 19/04/2000 (ANA)

Trade was nervous with share prices extremely volatile. The general index jumped 4.92 percent at 4,269.98 points initially but succumbed to profit taking later in the session to end at 3,951.85 points, down 2.78 percent, but off the day's lows of 3,894.75.

Turnover was an improved 196.5 billion drachmas. The FTSE/ASE 20 index for blue chip and heavy traded stocks fell 2.19 percent to 2,250.73 points and the FTSE/ASE 40 index ended at 526,64, off 4.01 percent.

Sector indices ended as follows: Banks: 7,775.61

-1.23% Leasing: 797.45 -5.72% Insurance: 2,776.57

-0.47% Investment: 1,695.27 -0.27% Construction:

1,878.42 -5.52% Industrials: 2,350.17 -3.47% Miscellaneous: 3,796.55 -5.03% Holding: 4,392.22

-6.03%

The parallel market index for smaller capitalization stocks ended at 676.21 points, off 6.33 percent.

Broadly, decliners led advancers by 232 to 105 with another seven issues unchanged.

Alpha Credit Bank, National Bank of Greece, Hellenic Telecoms and Panafon were the most heavily traded stocks.

Leading stocks' closing prices (in Drs): National Bank: 20,460 Alpha Credit: 20,000 Commercial Bank: 19,100 Ergobank: 7,240 Eurobank: 10,400 Hellenic Telecoms: 7,885 Panafon: 3,990 Hellenic Petroleum: 3,950 Intracom: 11,860 Minoan Lines: 5,240 Hellenic Bottling: 5,600 Heracles Cement: 7,605 Titan Cement (c): 13,600

Derivatives prices end sharply lower on Tuesday: Derivatives prices ended sharply lower in heavy volume on the Athens Derivatives Exchange on Tuesday following a decline in the two benchmark indices, FTSE/ASE 20 and FTSE/ASE 40.

A total of 5,528 futures contracts were traded with a turnover of 18.2 billion drachmas.

A total of 2,722 contracts were traded on the FTSE/ASE 20 index, worth 12.3 billion drachmas. The April expiring contract ended at 2,205 points, the May at 2,219 and the June contract at 2,232 points.

Another 2,806 contracts were traded on the FTSE/ASE 40 index, worth 5.9 billion drachmas. The April expiring contract ended at 511.50 points, the May at 512.50 and the June contract at 510 points.

Bond prices nose up in buy-oriented trade: Bond prices in the domestic secondary market edged up in light to moderate trade on Tuesday, again brushing off jittery sentiment in stock markets at home and abroad.

Domestic paper has managed to hold on to reasonably high levels, containing market nervousness to stocks.

The Greek benchmark 10-year bond showed a yield of 6.06 percent from 6.11 percent a session earlier and 6.10 percent on Friday.

The paper's yield spread over German bunds was 84 basis points from 88 basis points in the previous session and 86 basis points on Friday.

Turnover through the central bank's electronic system totalled 46 billion drachmas against 14 billion drachmas a day earlier and 48 billion drachmas on Friday.

Of Tuesday's total, buy orders accounted for 44 billion drachmas of turnover and sell orders two billion drachmas.

Drachma creeps up vs. euro, slumps vs. dollar: The drachma on Tuesday nosed up against the euro and dropped sharply versus the US dollar in the domestic foreign exchange market.

The Bank of Greece did not intervene, traders said.

At the central bank's daily fixing, the euro was set at 335.290 drachmas from 335.350 drachmas a day earlier and 335.010 drachmas on Friday.

Also at the fixing, the US dollar was set at 352.870 drachmas from 349.440 drachmas on Monday and 350.700 drachmas on Friday.

Greek/German bond spread falls to 82 bp: The spread in the Greek/German bond yields fell to 82 basis points on Tuesday following a successful auction of a 10-year bond issue by the Public Debt Management Organization on Tuesday.

The average weighed price of a 10-year bond, worth 300 billion drachmas paying an annual coupon of 6.0 percent, was set at 6.06 percent.

Bids submitted totalled 782 billion drachmas, more than double the asked sum. The organization finally accepted bids totalling 360 billion drachmas.

Analysts said that foreing demand for Greek bonds remained strong and said that the 10-year bond issue would serve as a benchmark for the Greek securities market.

The average weighed price of the bond was 99.555 points with a minimum accepted price of 99.450 points.

[16] Capital Markets' Committee to announce measures by the end of the week

Athens, 19/04/2000 (ANA)

Final decisions have already been taken following talks with national economy officials and the independent Capital Markets' Committee.

A question, however, remains whether the committee or the Prime Minister in his policy statement in parliament should announce the measures.

[17] Industrialists see Athens bourse rising long-term

Athens, 19/04/2000 (ANA)

SEB also said it believed that businesses and investors in the bourse, both institutional and retail, should take part in the decision-making process about the market's rules of operation.

In addition, more transparency was needed, and more controls, SEB said in a statement.

[18] British playwright Pinter receives honorary degree by Thessaloniki University

Athens, 19/04/2000 (ANA)

Pinter was awarded the honorary degree by the university's English Literature department.

Addressing an audience at the university, Pinter said the danger of nuclear disaster would not arise from "dangerous states" as America claims rather from America itself.

"The danger of nuclear disaster will not arise from the 'dangerous states', which America condemns, but from America itself.

"We are confronted by a bestial mean machine. Let's resist..." he said.

"What is the relation of military might and the forces of the market? The USA proclaim unabashed that they protect their interests through the use of military forces, whenever and wherever is needed and the government of Britain follows with an eagerness that deserves our disgust," the renowned writer said.

"Mr. Clinton proclaims that the USA gave freedom to the world. The USA, in what values of our civilization do they believe in? In a country with two million people in prison, in a country where in prisons for juveniles children are incarcerated, where stun guns are used, where torture is committed by remote control, in a country where in 38 of its states the death penalty is still in effect, the term 'civilized values' sounds like a joke," he concluded.

In an interview earlier, Harold Pinter denounced NATO's involvement in Yugoslavia and criticized the British government for its policy.

"I feel ashamed of my country. Other countries also participate in NATO but only the British government bent over and kissed (US President Bill) Clinton's feet," he said.

Pinter said he feels vindicated over the stance he observed last year and added that "I might be disliked more in England now but when I was making a program on television and denounced NATO's involvement in Yugoslavia I received more than 300 letters a day from Britons who agreed with me but who did not dare to say so. They also thought they were alone."

"They said they arrested the murderer of the Turks, Ocalan. However, the truth is that the Turkish military is the murderer. I am well aware that even today there is torture in Turkey. The US defended the Albanians in Kosovo. However, the genocide of the Kurds took place in Turkey but the US did not bomb Istanbul," he said.

Pinter was replying to questions in a televised interview to the ET-3 TV station.

[19] Int'l praise for establishment of much-needed traffic safety council

GENEVA, 19/04/2000 (ANA)

The two international bodies, representing the interests of roughly 100 million motorists and travelers from around the world, also said they were satisfied that the new council will include both state and private organizations. They also commended the fact that the Greek Motorists Club (ELPA) - a member of both AIT and FIA - will also cooperate with the neophyte traffic safety council.

Greece, unfortunately, sports one of the highest, if not the worst traffic fatality and accident rates in the European Union.

[20] Panathinaikos qualifies for European Basketball Championship final

Athens, 19/04/2000 (ANA)

Panathinaikos will play with Maccabi Tel Aviv, which beat Barcelona 65-51 earlier in the evening, in the final on Thursday.

[21] European deputies send clear messages to Cyprus and Turkey

NICOSIA, 19/04/2000 (CNA/ANA)

The two co-chairpersons of the Joint EU-Cyprus Parliamentary Committee Mehtilde Rothe and Tassos Papadopoulos told a press conference that the EU Helsinki summit conclusions dispersed any ideas that Turkey could obstruct Cyprus' accession and the German deputy ruled out the possibility of separate negotiations with the Turkish Cypriot side.

The next Committee meeting will be in Brussels in October.

Rothe expressed regret at the refusal by the Turkish Cypriots to participate in the Cypriot team, by nominating their representatives, negotiating Cyprus' entry into the EU.

"We want something concrete in the Cyprus question," Rothe said, speaking through an interpreter, and expressed the view that the situation as far as the Cyprus question is concerned has improved somewhat after the December EU summit in Helsinki.

"It is in Turkey's interest to join the EU but Ankara must put an end to its occupation of Cyprus' northern part as negotiations cannot start until the troops withdraw and human rights in Turkey are respected," Rothe said, adding that "at present there are no concrete messages" on the part of Turkey that is has changed its positions.

Cyprus has been under Turkish occupation since Turkey invaded the island in 1974.

She furthermore criticized Ankara for certain events in Turkey, such as the arrest of mayors, which she described as "incomprehensible".

Rothe called on the EU to use this new framework of relations between Turkey and the Union after Turkey was nominated officially a candidate country and noted that Cyprus affects these relations.

Replying to questions, the German Euro MP said any contact with the Turkish Cypriots is to inform civil society about the EU.

Describing Cyprus as "the best pupil in the class", she said it has closed 15 out of 29 chapters of the acquis communautaire, something that places Cyprus ahead of all other candidate countries.

In his remarks to the press, Papadopoulos called on Turkey to comply with the provisions of the Helsinki decisions, if it wants to start accession negotiations.

[22] Time is ripe 'for serious negotiations' leading to Cyprus solution

NICOSIA, 19/04/2000 (CNA/ANA)

He also called on the international community to put more effort in the peace talks to render them productive and warned at the same time that the present positions adopted by the Turkish side at the talks jeopardize this latest attempt to solve the problem of Cyprus, which has been divided since 1974, when Turkey invaded and occupied the northern third of the island.

The minister on Tuesday told Euro MPs and Cypriot deputies, participating in the joint EU-Cyprus Parliamentary Committee meeting, that the government's policy aims at two goals, to find a just and viable settlement in Cyprus and work towards EU accession.

"We believe these two objectives are two parallel courses which aim at strengthening each other," Kasoulides said.

Referring to the UN-led peace talks on the Cyprus problem, due to resume in May in New York, he said Turkish Cypriot leader Rauf Denktash expects to have his preconditions met before he engages in serious negotiations.

"I would like to point out that Turkey is in a position, if it wishes, to convince Mr. Denktash to change his position, and Ankara has proved that, when it persuaded him to go to talks (in December)," the foreign minister said.

Two rounds of UN-led proximity talks have already taken place, the first in December in New York and the second in February in Geneva, while a third round is expected to begin May 23 in New York, aimed at preparing the ground for substantive negotiations leading to a settlement of the Cyprus problem.

"Now is the time for serious negotiations to pave the way for a solution. The international community, the UN, the US and the EU should, between now and the resumption of talks, make a more intensive effort because these negotiations must begin to yield results, if we are to be led to a fourth round and if we want to save the credibility of the negotiating procedure," Kasoulides said.

"The possibility of refusing Cyprus EU entry, in spite of a successful accession course, its huge effort and sacrifices to harmonize with the acquis communautaire and its conduct towards the various initiatives for a solution, would be a serious blow to the effort for stability in the eastern Mediterranean," Kasoulides warned.

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