From: tzarros@ccs.carleton.ca (Theodore Zarros) Subject: News (in ENGLISH)- Fri, 3 Jun 1994 (Greek Press Office BBS, Ottawa). Athens News Agency Bulletin, Drachma crisis over, battle won - Papantoniou ------------------------------------------ Athens, 3/6/1994 (ANA): The drachma crisis is over and the battle has been won, National Economy Minister Yannos Papantoniou said yesterday, echoing a similar statement by central bank governor Ioannis Boutos earlier this week. Mr. Papantoniou said that "the rate of normalisation" of the banking market had exceeded expectations, adding that, in a few days, the market would revert to levels prior to the crisis caused by lifting all foreign exchange controls on May 16. He added the overnight market rate yesterday fell to 23 per cent from 180 per cent last week. Mr. Boutos said markets had understood that government policy of supporting the national currency "is and will remain unchanged." He added the issue of high-yield treasury bills Tuesday and Wednesday cost the government "only seven billion drachmas" (28.3 million dollars). Rates were 25.5 percent for three months, 19 percent for six months, and 18.5 percent for a year. Responding to charges by main opposition New Democracy leader Miltiades Evert that all additional revenue the government expected to raise from the new tax bill would be used for settling high interest state securities, Mr. Papantoniou countered that cost to the state of securities sales would total 7 billion drachmas only, while estimated revenue from the new tax was 400 billion drachmas. Government spokesman Evangelos Venizelos said that "all is well with the drachma", underlining that the fall in interest rates was "an extremely positive sign". The government, he added, had won the battle of the drachma "and speculators had paid the price of profiteering". NEP satisfied with budget implementation, higher revenue, less spending ----------------------------------------------------------------- Athens, 3/6/1994 (ANA): The National Economy Ministry said yesterday it was satisfied with state budget implementation, marking increased revenue and limited spending during the first five month period of 1994. Government handling of the budget had yielded a primary surplus of 217.6 billion drachmas from January to May 1994, a statement said. It added state revenue in May totalled 521 billion drachmas, an increase of 19.4 per cent over the corresponding month in 1993. "But as the state had earned 26.4 billion drachmas from a privatisation campaign in May 1993, the actual increase in revenue was 27.4 per cent," the statement went on. The Ministry recalled May public spending fell by 4.2 per cent against the corresponding period last year, to 387 billion drachmas. A primary surplus record in May reached 134.2 billion drachmas from 32.7 billion drachmas in the same month last year. EU FYROM court action not related to Corfu Summit - Venizelos ------------------------------------------------------------- Athens, 3/6/1994 (ANA): The European Commission option to treat Greek retortion measures against the Former Yugoslav Republic of Macedonia (FYROM) as a legal issue (to be discussed at the European court on June 14), has lost all sense of political gravity as far as the European Union is concerned and cannot be related to the Corfu summit, government spokesman Evangelos Venizelos said yesterday. He added effectiveness of the measures had been felt in FYROM, was treated "in a rather odd manner by the European Commission", and at political level by numerous other factors, leading to Mr. Vance's and Mr. Nimetz' initiative now under way. He did not rule out the possibility - although appearing extremely reserved - of the FYROM issue being raised at the Corfu summit, adding it had not been included on the agenda. Referring to Greek-Albanian relations and possible lifting of a Greek veto now blocking 35 million ECUs, following Foreign Minister Karolos Papoulias' recent statement about signs of easing in relations with Albania, Mr. Venizelos said the Greek government has repeatedly stressed it would use all means at its disposal to confront Albanian provocations, adding that, in the final analysis, everything hinged on the attitude of the Albanian government. Krajina Serbs deny talks with Croats in Athens report ------------------------------------------------------- Belgrade, 3/6/1994 (ANA - N. Georgiadis): Krajina Serbs Premier Borislav Mikelic, speaking at an interview with Obrenovac radio station, denied reports yesterday that talks would be held in Athens between Serbs and Croats on the Krajina issue, according to a report by Tanjug News Agency. The Belgrade-based newspaper "Vecerni Novosti" reported yesterday that talks would take place in Athens in the near future, at the initiative of Russian Foreign Under-secretary Vitaly Churkin. Mr. Churkin visited Belgrade three days ago for talks with Serb President Slobodan Milosevic and political leaders of the Krajina Serbs. Tanjug also reported from Moscow that Foreign Minister Andrei Kozyrev and his Greek counterpart Karolos Papoulias have agreed on specific steps to be followed for a solution to the Bosnian crisis. The report made no reference to the Krajina issue. Russia has made repeated attempts to settle the conflict between Serbs and Croats on the issue. Albanian socialists blame Gov't for tension with Greece ------------------------------------------------------- Tirana, 3/6/1994 (ANA-M. Vihou): Albania's opposition Socialist Party has strongly criticised the Albanian government for escalating tension with Greece, party deputy chairman Servet Pellubi said yesterday. Mr. Pellubi told a press conference that his party was in favour of good relations between Greece and Albania, adding there were many possibilities of developing such relations. He said that his party had strongly criticised the Albanian government for escalating tension between the two countries following the April 10 attack on a conscript training centre in southern Albania. Tirana charged Greece with involvement in the attack, an accusation strongly rejected by Athens. "There should be no escalation of tension, but dialogue instead," Mr. Pellubi said, adding, "as a people we are particularly satisfied with the cool-headedness and good sense shown by the Greek government and the fact that it did not order mass expulsions of Albanians, as had the previous government of Constantine Mitsotakis." At the same time, Mr. Pellubi claimed that there were "chauvinistic circles" in Greece "which are continuing their old policy against Albania". He asked the Greek government to distance itself from such circles and condemn them. Mr. Pellubi said that escalation of tension by the Albanian government was aimed at diverting public attention from the "asphyxiating" grip of domestic problems to "an imaginary foreign threat". He also linked the tension with "actions and powers both in and beyond the Balkans". Egyptian trade delegation holds talks with ETBA ----------------------------------------------- Athens, 3/6/1994 (ANA): Greece constitutes the gate to Balkan countries, and the Hellenic Industrial Development Bank (ETBA) supports with specific measures and incentives all businessmen interested in investing in those countries, ETBA Governor Theodoros Gamaletsos said yesterday. He was addressing a 25-member Egyptian trade delegation, headed by Said Tavil, Chairman of the Egyptian Industrialists Union, who visited the bank for talks yesterday. The Egyptian group were briefed on ETBA's profile and portfolio activities, its operation of a network of industrial zones throughout the country, and a package of incentives for foreign investments in Greece. Specifically, the Egyptian businessmen were briefed on the following: - Powerful incentives for investments in Greece, under the new development law. - ETBA support to enterprises wishing to form joint ventures in Albania, Romania, and Bulgaria. A total of 350 joint ventures have been established so far between Greek and Balkan entrepreneurs, of which 50 have been finalised through ETBA. - Financing and planning of industrial zones in the Balkans (i.e. the region of Vraila in Romania and Tirana in Albania). On Egypt and Palestine, mission members were informed of the following: - A programme for relocating ailing enterprises in which the Bank has an equity holding, in Alexandria. The programme applies to businesses in the sectors of printing, foodstuffs and paper, and concerns their immediate rehabilitation in the production process. - On a preliminary and final study for building a marina in Alexandria. The study will be carried out by the Athens Polytechnic in co-operation with the Alexandria Polytechnic, ETBA and the Egyptian Public Works Ministry. ETBA's affiliate, BIPETBA, will undertake construction management. The Egyptian delegation arrived in Athens last Tuesday, on a visit aimed at furthering economic and commercial ties between Greece and Egypt, and identifying new areas of co-operation with Greek businessmen. Egyptian businessmen are engaged in branches, such as import-export, investment, joint tourism ventures, shipping and banking.