Athens News Agency: News in English (AM), 97-05-22

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

NEWS IN ENGLISH

Athens, Greece, 22/05/1997 (ANA)

MAIN HEADLINES

• Pangalos calls for a successful Albanian election
• Official suspended for banning Kazantzakis
• IOBE survey on economy
• Athens' rivals for 2004 Olympics cry foul over reception
• Officer arrested in connection with consulate killing
• George Papandreou on legalisation of cannabis
• Shipping exchange drop in January
• National Bank's new branch in Sofia
• Alpha Credit Bank 1996 profits rise 13%
• Weather
• Foreign exchange

NEWS IN DETAIL

Foreign Minister Theodoros Pangalos yesterday called on all political forces in Albania to make every effort towards a successful outcome for the June 29 elections, promising that Greece "will continue to offer every possible assistance on the diplomatic, economic and humanitarian front."

In a statement, Pangalos warned against allowing "partisan concerns to thwart" what he called "the historic opportunity offered by the elections". He said the "international community would have to review its position with regard to Albania if the elections foundered."

" If the elections were not held under free and fair conditions," Pangalos said he feared "the end of Albania's troubles would not be at hand."

Meanwhile, there are no plans for Foreign Minister Theodoros Pangalos to visit Albania, government spokesman Dimitris Reppas said yesterday replying to reporters' questions.

Commenting on the situation in the neighbouring country, Reppas said it was the responsibility of the political forces of Albania to give a solution to the problem which exists.

On the presence of the multinational protection force in Albania and its role, Reppas said ''no one is prepared to whitewash unilateral actions and it is not possible for the international community to legitimize handling which serves the plans of individuals or parties''.

''The international community will not remain indifferent,'' Reppas said.

The spokesman expressed the hope that the political parties in Albania will in the next few days find a way to communicate.

Official suspended for banning Kazantzakis

A school counsellor has been suspended in Larissa, central Greece for sending a circular to the schools of the region telling teachers not to use the works of Greek writer Nikos Kazantzakis whom he described as ''blasphemous''.

Education Undersecretary Yiannis Anthopoulos yesterday condemned the action of counsellor Achilleas Pitsilkas, saying he had already ordered an official inquiry.

At the same time, Anthopoulos said a ministry directive had already been sent to schools instructing them to continue using the works of Kazantzakis as teaching material.

Anthopoulos described the action of Pitsilkas as ''a return to the Dark Ages'', stressing that Kazantzakis should not be ''recrucified''.

The title of one of the Cretan-born writer's most famous novels was ''Christ Recrucified'' or, in the English translation, ''The Greek Passion''.

A prolific writer and translator of many classics, Kazantzakis, who died in 1957, also directed the Greek ministry of public welfare and held the post of minister of state.

IOBE survey on economy

The Greek economy is in the midst of a successful process of gradual adjustment to Maastricht criteria, according to a quarterly survey of the Greek economy by the Foundation for Economic and Industrial Research (IOBE).

The survey said that led mainly by construction, a cyclical economic recovery is underway with disinflation allowing a faster reduction of interest rates.

Net exports, however, continue to exert a negative effect on GDP growth. Overall, the economy in 1997 is expected to achieve a growth rate in excess of three percent, while consumer price inflation has fallen drastically in the last six months to April.

The drop in inflation has been achieved partly on account of using a new weighting method for household surveys but mainly from a combination of favourable weather conditions that have kept agricultural prices down, and low imports inflation deriving fr om the hard drachma policy.

IOBE notes, however, that the hard drachma has encouraged private foreign exchange borrowing at rates that complicate liquidity and current account control.

The survey urges a rapid implementation of structural reforms in the labour market, saying that rising unemployment, already at high levels, is the heavy toll to pay for long delayed reforms in the labour market and social insurance system. Reforms sh ould enhance competitiveness, promote employment and reduce the burden for future generations.

Athens' rivals for 2004 Olympics cry foul over reception

Four of the five candidate cities for the 2004 Olympic Games have accused Athens of breaking International Olympic Committee (IOC) regulations by holding a reception for IOC delegates last week during the South Asian Games in South Korea.

According to representatives from Rome, Stockholm, Cape Town and Buenos Aires, the IOC has said candidate-cities can not hold receptions for IOC members unless they are visiting the candidate.

A spokesman for the Stockholm candidate committee said "we are discussing the issue with the other cities, but it is Rome's decision whether to take an initiative" for making an official charge against Athens.

Luciano Bara, the general director of the Italian candidate committee, said Rome will not initiate proceedings against Athens.

"It would have to be a joint decision of all four cities," he said.

The president of the Greek 2004 committee, Yianna Angelopoulou-Daskalaki, expressed her surprise at the charges, stating that neither she nor any other member of the Athens 2004 Committee had violated IOC regulations.

"I am entirely sure we are proceeding well and we are following the Olympic spirit" she said.

Officer arrested in connection with consulate killing

Police officer Dimitris Tzavelas, 28, was arrested late last night at Kakavia, on the Greek-Albanian border, in connection with the fatal shooting of fellow officer Nikos Markakis in the Greek Consulate in Gjirokaster Tuesday.

A few hours later, Tzavelas was brought under heavy guard to Ioannina where he is being questioned. He is expected to be transferrred to Athens later today to be charged.

Tzavelas was arrested on the basis of contradictory statements to police who had gone to Gjirokaster to investigate the shooting, and on the evidence of Odysseas Mitsis, an ethnic Greek security guard at the consulate, as well as ballistics tests on Tzavelas gun.

George Papandreou on legalisation of cannabis

The Athens daily "Eleftheros Typos" yesterday published excerpts of an interview by Alternate Foreign Minister George Papandreou with the monthly magazine "Klik", in which he reportedly supports the possibility of a cannabis user being able to cultivate a small quantity at his residence for personal own use.

The minister adds that it will remain illegal for citizens to either traffic or sell any cultivated quantity.

Mr. Papandreou is also reportedly in favour of distinguishing between so- called "soft" and "hard" drugs, in order to enable the weight of strict law enforcement to fall on the latter.

Reacting strongly to Mr. Papandreou's interview on the drug problem, the Communist Youth of Greece (KNE) P the Communist Party of Greece's (KKE) youth wing P referred in an announcement to what it called the "dangerous and reactionary methodisations" of the government, which KNE says is promoting a "high youth."

Asked to comment on Mr. Papandreou's view of legalising hashish, Justice Minister Evangelos Yiannopoulos said it was a mistake and stressed that "it is his right to express his view but he will receive the necessary reply from the Greek people."

Shipping exchange drop in January

Inflows of shipping exchange dropped 7 per cent in January compared to the same month of 1996, according to figures released today by the ministry of merchant marine.

Shipping exchange totalling 180 million dollars was deposited in Greek banks in January 1997, compared to 193.5 million dollars in the same month last year.

National Bank's new branch in Sofia

National Bank of Greece governor Theodoros Karatzas on Thursday will launch the state bank's new branch in the Bulgarian capital and is expected to meet members of the country's new government during his visit to the capital.

Accompanying Mr. Karatzas to Sofia is a delegation of roughly 50 representatives of industrial sectors including construction, foodstuffs, textiles and metals.

Alpha Credit Bank 1996 profits rise 13%

Alpha Credit Bank reported a 13 percent increase in 1996 net profit to 43.1 billion drachmas from 38.2 billion the previous year.

Presenting annual results to the annual shareholders' meeting, the president of the bank Yiannis Costopoulos said that 1996 represented yet another year of success, coordinated growth, and confirmation of the bank's leading role in the Greek banking ind ustry.

Total assets reached 2.74 billion drachmas from 2.07 billion in 1995, while the bank announced a dividend payment of 925 drachmas per share from 825 drachmas the year before. Profits per share increased to 1,632 drachmas last year from 1,445 in 1995 and the P/E ratio rose to 16.24 from 8.62.

Alpha Credit Bank's capitalisation is the biggest among Greek banks, reaching 414.5 billion drachmas on December 31 1996 from 271.3 billion the year before.

The bank operates 186 branches, including a branch in London, and plans to open 17 more during 1997. Its subsidiary in Romania, Banca Bucuresti has nine branches after just two years in operation.

Alpha Credit Bank employs 4,175 people, while the Alpha Credit Group has a total of 5,145 staff. Alpha Credit Group's four subsidiaries (Alpha Investments, Alpha Finance, Alpha Leasing and Delta Informatics) are listed on the Athens Stock Exchange.

WEATHER

FOREIGN EXCHANGE

(Y.B.)

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