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A.N.A. Bulletin, 28/06/96

From: "Greek Press & Information Office, Ottawa Canada" <grnewsca@sympatico.ca>

Athens News Agency Directory

ATHENS NEWS AGENCY BULLETIN (No 923), June 28, 1996

Greek Press & Information Office

Ottawa, Canada

E-Mail Address: grnewsca@sympatico.ca


CONTENTS

  • [1] Simitis announces bid for PASOK presidency

  • [2] Simitis

  • [3] Skandalidis emphasizes unity in his address to congress

  • [4] Simitis speech sparks divided opinions

  • [5] Opposition parties speak at congress

  • [6] Papariga says congress won't change PASOK's policies

  • [7] Condolences continue to pour in

  • [8] Cypriot House of Representatives honors Papandreou

  • [9] Athens to host major international medical meeting next week

  • [10] High-ranking IOC cadre says Athens' bid for 2004 'difficult'

  • [11] Gov't ready to deal with Turkey at International Court, Reppas says

  • [12] Yilmaz expressed optimism over Greek-Turkish relations

  • [13] Irish premier follows 'equal distances' over Aegean differences

  • [14] Turkish culture minister wants to turn Byzantine Cathedral into a mosque

  • [15] State cannot intervene in scientific research, Greece tells Bulgaria

  • [16] US's Tarnoff due in Greece next week

  • [17] Germany retains position as Greece's largest trading partner

  • [18] Agriculture Bank profits amount to 15.8 billion drachmas in '95


  • [1] Simitis announces bid for PASOK presidency

    Athens, 28/06/1996 (ANA)

    Prime Minister Costas Simitis told the ruling PASOK party's fourth congress yesterday that the person to be elected as party leader should also be premier, adding that he himself would be bidding for the post.

    "Following the death of Andreas Papandreou, I am submitting my candidacy for the post of party president," he told the congress.

    Mr. Simitis further added that in the event he was not elected, he would be compelled to resign from the premiership.

    Mr. Simitis said the premier and PASOK president must be the same person in order to secure effective coordination between the government and party organs.

    Considered the most crucial in the party's history, the congress opened yesterday at the Athens Olympic Stadium, just one day after PASOK's founder, president and former premier Andreas Papandreou was buried.

    The congress should end on Sunday night with the election of a new party president.

    "Multi-headed formations are recipes for electoral defeat," the premier said, stressing that it must be clear that there are no different poles of power canceling each other out within PASOK. Mr. Simitis also underlined that there could be no difference in policy between the government and the party.

    The premier underlined that PASOK's president and the prime minister should be the same person in order to secure "clear solutions", stressing that his resignation in the event of a defeat (for the post of party president) "constitutes a clear solution" .

    "If I remain (at the premiership) I would not be honest vis-a-vis to the people, PASOK and to myself," Mr. Simitis said.

    "The people do not want intrigues and 'trench-warfare', it wants clear solutions, there is no need for compromises on a personal level... I call on you to put an end to the lines of partition... in order for it to become clear that no one is superfluous, that no one is 'more' PASOK than the other," the premier said.

    At the start of the conference, Environment, Town Planning and Public Works Minister Costas Laliotis urged delegates to heed "the call for unity demanded by millions of Greeks from all corners of Hellenism".

    Mr. Laliotis called on the approximately 5,000 delegates to give an oath for "the unity, perspective and victorious course of PASOK" and to meet the challenge "for the successor, for a collective and militant PASOK".

    He said party founder Andreas Papandreou, even in his absence, "marks our lives".

    Shortly before, Executive Bureau member Yiannis Souladakis addressed himself to the late Socialist leader, saying "here we are again Andreas", which provoked the enthusiastic applause of delegates who chanted "Andreas, you live, you guide us".

    [2] Simitis

    Athens, 28/06/1996 (ANA)

    Mr. Simitis rejected claims of centralization, saying that his government to date had set an example that collective functioning was possible.

    Mr. Simitis said that his election by the party to the premiership had specific content "because everyone knew my views, my ideas and my history".

    He said he had been elected "for something new, taking the political decision for a new direction to be given to the government's policy". Immediately, he continued, there were doubts, questioning and open hostility, citing as an example claims b y some in the party that PASOK's patriotic character was in danger.

    "This reminds one of the distinction made in the past between nationalists and non-nationalists," he said.

    Under these circumstances, Mr. Simitis added, the policy of the government is facing difficulties and "if it is to continue in accordance with the commitments it has undertaken, there must be clear-cut solutions, because victory is not attained with balances and half-measures".

    "We cannot go forward to tomorrow with yesterday's ticket," he said.

    In a clear attack against his opponents within the party, the premier added that he did not understand their concerns, particularly when they originated from "a side whose behavior was characterized by centralization, the systematic ridiculing of collectivism and non-transparent procedures".

    This remark brought a reaction from a number of delegates who chanted "Andreas, you live, you lead us", to which Mr. Simitis replied:

    "Unity emerges from sincerity... not feudal formations."

    A strong reaction was voiced by some delegates to Mr. Simitis' announcement that he would resign from the premiership if not elected party president.

    Mr. Simitis said that the "vision" born 22 years ago must remain alive, adding that the congress was the "milestone of the great new change which will give a new perspective."

    "We shall not confront each other in a pointless and fratricidal struggle, the confrontation will be with history," he said.

    "The congress is neither the beginning nor the end for PASOK, as some claim. The image that we are putting forward our own personal interests is unfair. We have the historic responsibility to make this congress the beginning of a new victorious era...," the premier added. In the 16 months remaining before general elections, Mr. Simitis went on, "we have a great task to accomplish in order to secure victory". Mr. Simitis stressed that the Executive Bureau should constitute a "single center" providing guidance and "there should be no other parallel, non-transparent (centers of) power".

    "PASOK's president should be the expression of the executive bureau; prejudices and covert leadership groups should not exist... I will personally see that these phenomena of the past are averted," Mr. Simitis said.

    "Deeply embedded attitudes and rationales must be overcome collectively," the premier stressed, adding "the Central Committee should be a body for generating policy and not a venue for discussion".

    Referring to the party's Parliamentary group, Mr. Simitis said that after the election of the group's new presidium it is functioning under a new type of operation. Mr. Simitis stated categorically that as far as he was concerned, all decisions taken by the congress would be binding.

    Mr. Simitis said the answer could not be "many and small roles" but collective functioning, adding that during his period of office the cabinet and government bodies had convened more times than in the past, proving that unilateral decisions were not a one-way road, while stressing that PASOK's political secretariat had not convened more than twice in past years.

    "It is high time for all to work collectively and not with multi-segregation of powers, because special roles replace collective work," he said. "Some maintain that the phenomenon of winners and losers should be avoided," Mr. Simitis said, adding that a s far as he was concerned there would be "no winners and losers because it was immaterial which flag each person brandished, and that meritocracy should prevail over mediocracy" since, he added, he had a solution in being the prime minister of all, "heading all and mobilizing all the living forces of PASOK".

    Mr. Simitis said a vote was not the prelude to a rift because democracy necessitated voting.

    At the beginning of his address, Mr. Simitis spoke very highly on the role Andreas Papandreou had, saying his shadow was present and that respect and love for him would be measured by the anguish to have his work renewed and vision kept alive.

    "Many claim that there is an internal crisis in Greece. But what is necessary is for this crisis to constitute the beginning of a new era and not the end to another," he said, adding that it was his personal opinion.

    Mr. Simitis said Greece was the only European Union country facing an outright threat, citing the claim by Ankara that there existed so-called "gray areas" in the Aegean. The premier said the government was unswerving in its desire to safeguard peace but stressed that the Greek people and armed forces would protect every inch of Greek territory against Turkish designs.

    On European integration, Mr. Simitis said Greece was facing its second great challenge, adding that "a tough battle" must b e waged in this respect.

    [3] Skandalidis emphasizes unity in his address to congress

    Athens, 28/06/1996 (ANA)

    Speaking below two enormous photographs of PASOK's founder, central committee secretary Costas Skandalidis said a message of unity had been sent yesterday by the thousands of people lining the streets to pay their last farewell to Papandreou.

    He appealed for personal interests and "trench-warfare" tactics to be set aside in order for PASOK to continue on to victory.

    "Among ourselves, we have given an oath of unity and nobody will stand accused as a perjurer on Monday morning," Mr. Skandalidis said. The congress ends Sunday evening.

    He underlined that PASOK had displayed maturity and responsibility during the period when its founder had been forced by poor health to remain on the sidelines of political developments, adding "this is what we must again show." He urged a collective effort within the party, "because only a collective PASOK can carry on from Andreas Papandreou."

    Referring to the national, economic and social challenges facing the country, Mr. Skandalidis stressed the need to chart a new course. "What is needed is a Greece able to protect Hellenism and avert a new national shrinking."

    Greece, he went on, could not sell out any of its sovereign rights in the Aegean, nor would it accept Thrace becoming a new Cyprus.

    On Europe, Mr. Skandalidis said conservative interests were prevailing and expressed support for its strengthening and integration but with "struggles" and the "revival" of progressive forces.

    Speaking on the situation in the Balkans, Mr. Skandalidis said the continued instability in the region is not a coincidence, and attributed this to the involvement of foreign powers.

    The PASOK secretary said Greece has many possibilities in the region, and must develop diplomacy which will combine the country's position in the European Union with the traditional relations it has with Balkan countries.

    He also spoke of the necessity to continue the policy drawn up by Andreas Papandreou and to take initiatives of defense co-operation between Greece and other Balkan countries.

    Speaking on Turkish expansionism, Mr. Skandalidis stressed it was a result of internal weaknesses. He added that Greece will not accept a solution on the Cyprus issue which would legalize the island's division.

    "Greece is not against dialogue or the recourse to international arbitration organizations, provided the recourse is carried out for existing problems which are not solved by international treaties and agreements," Mr. Skandalidis stressed.

    The PASOK secretary referred to Papandreou's slogan "Greece for the Greeks," saying this should be more dynamic, and become "with the Greeks for Greece." He proposed for the dogma "we claim nothing, we cede nothing" to be changed into "we cede nothing, we respect international legality, we claim Hellenism's inalienable rights."

    Elaborating on the third part of his proposed dogma, Mr. Skandalidis said Greece has claims on "the rights of Cypriot Hellenism; the rights of the Greek community in Albania; the rights of Greeks on Imvros and Tenedos; the non-distortion of history and of our civilization; protection of our language and values; the expatriate Greeks."

    "In order to deal with Turkish expansionism, a solid internal front is needed, which will be based on a fast-paced economic and social development and on social cohesion," Mr. Skandalidis added.

    "The Greek people have paid and are paying the cost of convergence," he said, but stressed that significant achievements have been made in the economy.

    However, he admitted that PASOK did not succeed for the entire course of its term in power to promote a policy which would contribute decisively to social cohesion and solidarity.

    Mr. Skandalidis spoke of a "battle between the old and the new", saying that there are two sides: one supporting historical continuity and the other supporting clearly technocratic modernization. "The solution lies in a mixture and not in the extinction of the old or a rejection of the new," he said.

    He said there is a question as to how the new PASOK will evolve, saying there must be an overcoming of the past in combination with historical continuity and the need for renewal. He also stressed the need for the party to remain "great and united."

    Concluding his speech, Mr. Skandalidis appealed to all present "to come out of the congress strong and determined because we owe it to Andreas Papandreou, to our country, our people, to the democratic movement."

    [4] Simitis speech sparks divided opinions

    Athens, 28/06/1996 (ANA)

    The prime minister's statement of his intention to resign if not elected party president seemed to have divided subsequent speakers, half of whom agreed with the view that it constituted a "brave decision, clarifying the political climate of congress," while for the opposing side it was nothing more than "an unacceptable blackmailing dilemma."

    Culture Minister Stavros Benos described the proposal for the introduction of distinct roles for the prime minister and party leader as detrimental to unity.

    Former alternate foreign minister Yiannis Kapsis called on the premier to "correct his little mistake," and stay at his post to fight.

    European Commissioner Christos Papoutsis stressed that the basic tenets of Andreas Papandreou's analysis in the party's founding "Declaration of the 3rd of September, 1974" remained timely, and stated his opposition to those who supposedly championed the upgrading of the party's institutional functions and the establishment of a "vague center-left character."

    Interior, Public Administration and Decentralization Minister Akis Tsohatzopoulos is due to speak today. He is expected to announce his candidacy for PASOK's presidency.

    [5] Opposition parties speak at congress

    Athens, 28/06/1996 (ANA)

    The PASOK congress was also addressed by representatives of Parliament-represented opposition parties and parties outside the House, who focused mainly on the stature of the late Andreas Papandreou.

    Main opposition New Democracy's representative, ND Parliamentary group secretary Stavros Dimas, recognized the late PASOK leader's contribution to political stability in the country, expressing satisfaction for the existence of the two main political parties, which he said has allowed their unhindered alternation in power.

    He called on PASOK delegates to engage in a critical appraisal of their party's past, and wished them success on the issue of succession to the leadership, as in the case of his own party.

    Political Spring party leader Antonis Samaras said PASOK's congress had acquired the weight of a decisive factor in the course of political developments in the country, but noted that "we had arrived at the end of an era without anything showing that we were entering a new one."

    He called for a bold and revolutionary reform that would allow the reconstitution of the country's social forces with rejection of social exclusions, and the maximization of national potential.

    Communist Party of Greece (KKE) political bureau member Spyros Halvatzis referred to the catalytic personality of Andreas Papandreou, noting the differences between the two parties in determining the causes of working people's and the country's problems.

    He criticized the policy of the European Union and the parties that voted in favor of the Treaty of Maastricht, blaming imperialist forces which press for massive armaments programs to solve Greece's problems. He proposed overtures of friendship to neighboring countries, noting that the country was best shielded through raising the living standards of the Greek people.

    Coalition of the Left and Progress leader Nikos Constantopoulos said the problems that PASOK's congress was being called upon to solve were a sense of historical uncertainty, the crisis of credibility, effectiveness, representativeness and legitimacy of politics, and the exhaustion of the political system.

    The secretary of the Renovative Communist Ecological Left, Yiannis Banias, noted that no party alone could achieve a radical change in the country's course, and for this reason, an alignment of political forces was needed in the direction of forming a radical front.

    [6] Papariga says congress won't change PASOK's policies

    Athens, 28/06/1996 (ANA)

    Communist Party of Greece (KKE) General Secretary Aleka Papariga expressed a view that the ruling PASOK party's congress would neither produce a social or political message of substance for the working classes, nor would it affect its policies, despite the changes that may take place in its leadership.

    PASOK is an already well-formed party, with a specific orientation, and the death of its leader alone could not signal any changes, she said.

    Concerning Greek-Turkish relations, Ms. Papariga said the government's policy would become apparent after the congress, and forecast the initiation of a dialogue with Turkey for the consolidation of what she described as US ascendancy in the Aegean.

    [7] Condolences continue to pour in

    Athens, 28/06/1996 (ANA)

    President of the Republic Kostis Stephanopoulos continued to receive condolence messages on the death of Andreas Papandreou from around the world yesterday.

    Czech Republic President Vaclav Havel extended his condolences to his Greek counterpart and the Greek people, characterizing Papandreou as "a politician who was a special and unforgettable part of the history of modern Greece and modern Europe."

    Mr. Havel said he always respected Papandreou's personal contribution to the development of democracy in Greece and to the broadening of international co-operation.

    Georgian President Eduard Shevardnadze said Andreas Papandreou's death is "a great loss, not only for (Greece) but for the whole world. He was a personality which had the vision and the ability to change the world for the better.

    "Andreas Papandreou will remain in our memory as a hero who fought for freedom and the progress of his people."

    Condolence messages were also sent by Slovenian President Milan Kucan, Irish President Mary Robinson, the Emir of Kuwait Jaber al Ahmad al Sabah, Armenian Patriarch of Cilicia Aram, the Ivory Coast president, the president of Madagascar, the president o f the Greek-Serbian Friendship Association and the president of the Serbian Science and Arts Academy.

    Meanwhile, Andreas Papandreou's widow, Dimitra Liani-Papandreou, visited her late husband's grave in the Athens First Cemetery yesterday. Dozens of citizens, mainly young people, also visited the grave and left flowers.

    [8] Cypriot House of Representatives honors Papandreou

    Nicosia, 28/06/1996 (ANA/CNA)

    Cyprus' parliamentary parties paid tribute to Greece's first socialist premier in a brief but somber ceremony here yesterday, marked by speeches full of praise for Papandreou.

    Acting parliamentary spokesman of the ruling Democratic Rally party (DISY) Panayiotis Demetriou said Papandreou contributed a great deal toward national unity among Greece's political forces and added "the agreement he made with Cyprus for a joint defense doctrine is the most serious move since 1974, and offers Cypriot Hellenism, for the first time, a sense of security and optimism."

    Opposition AKEL parliamentary spokesman Andreas Christou described Papandreou as a "distinguished personality and one of the most prominent leaders of post-war Greece."

    Democratic Party parliamentary spokesman Tassos Papadopoulos said Papandreou turned the Cyprus problem from a "headache of the Greek government to the number one national issue, warning at the same time against subordinating the Cyprus question to foreign interests."

    Socialist EDEK deputy Demetris Eliades pointed out Papandreou's close links with Cyprus and said he consolidated democracy and modernized Greek political thought.

    George Vassiliou, the former Cyprus president and leader of the Free Democrats Movement, said Cyprus had lost an invincible freedom fighter and described him a "true friend of Cyprus who placed the Cyprus problem at the top of his political activity."

    [9] Athens to host major international medical meeting next week

    Athens, 28/06/1996 (ANA)

    Prominent American and Greek doctors working or training in the United States will converge on Athens next week for the first international meeting on "Medicine in the 21st Century", which will focus on issues ranging from asthma to mad cow disease.

    The opening of the three-day conference on July 4, to be held at the Athens seaside resort of Lagonissi (Xenia hotel), coincides with the 222nd anniversary of the American Independence Day.

    Official addresses will be delivered from Greek and American scientists, as well as Education Minister George Papandreou and Health Minister Anastasios Peponis.

    The conference, organized by the Hellenic-American Medical Society, will also be addressed by US Ambassador in Athens Thomas Niles, while the opening lecture, on the crucial topic 'Research in the Medical Schools of Greece today' will be delivered by Professor H. Moutsopoulos, according to chairman of the organizing committee Prof. D.A. Linos.

    The conference sections will cover such areas as cardiology, cardiac surgery, oncology, public health, new technology, endocrinology and endocrine surgery, microsurgery, and the future of medical education in Greece.

    The lectures include such topics as 'Hypertension, high cholesterol and the coronary artery', 'Correla-tion between coronary artery flow and ischemia', 'Aortic valve surgery', 'Surgical treatment of aortic aneurisms', 'Cancer immunotherapy', 'Limb sparing surgery for bone tumors: new developments', 'A new role for medicine in the 21st century', 'Robotics in neurosurgery', 'Molecular mechanism of steroid hormone action', 'Insulinoma', 'Thyroid and parathyroid surgery', 'Adrenal surgery', 'Microsurgery in trauma and reconstructive orthopedics', 'The maddening reality of mad cow disease: The connection between human and animals', 'The significance of re-induction of fetal hemoglobin synthesis in the management of thalassemia and sickle-cell disease', an d 'Asthma in the next decade'.

    [10] High-ranking IOC cadre says Athens' bid for 2004 'difficult'

    Montreal, 28/06/1996 (ANA - I. Frangouli)

    A member of the presidium of the International Olympic Committee (IOC) yesterday described the prospects for Athens' 2004 Olympic bid as "difficult and unfavorable."

    Richard Pound made the statements during an event where he was honored by Montreal's Greek community and within the framework of events marking the centenary of the modern Olympic Games.

    He added that although the ancient Greek spirit was the inspiration for the modern Olympics, Greece would now have to compete strongly with another 10 candidate cities on an equal basis.

    However, even if this bid failed, Greece should continue submitting its candidacy for subsequent Olympics, he said.

    [11] Gov't ready to deal with Turkey at International Court, Reppas says

    Athens, 28/06/1996 (ANA)

    The government said yesterday that if Turkish Premier Mesut Yilmaz or the Turkish government decided to refer the Imia issue to the International Court at the Hague, Greece would assess the proposal and reply accordingly.

    "However, till now, Mr. Yilmaz has only made comments without the slightest commitment," government spokesman Dimitris Reppas said in reply to questions.

    Greece and Turkey nearly went to war in late January after Ankara openly disputed Greek sovereignty of the Imia islets in the eastern Aegean.

    [12] Yilmaz expressed optimism over Greek-Turkish relations

    Istanbul, 28/06/1996 (ANA)

    Turkish Prime Minister Mesut Yilmaz expressed optimism regarding a solution being found to Greek-Turkish problems.

    Briefing Motherland Party's (ANAP) parliamentary group yesterday on his contacts during the European Council summit meeting in Florence last week, Mr. Yilmaz spoke of the appeal he made to Athens on March 24, saying delay in a reply is due to the "internal political situation in Greece."

    "Even with a delay, difficulties will be solved and our relations with Greece will be smoothed and obstacles for our entry into the European Union will be lifted."

    The Turkish prime minister characterized the contacts he had in Florence as having been "beneficial" and said he had the opportunity to explain Greek-Turkish relations and problems being created by the non-implementation of the customs union to EU leaders.

    Mr. Yilmaz said that apart from Greece, participants agreed that "Turkey is being unjustly treated."

    [13] Irish premier follows 'equal distances' over Aegean differences

    Brussels, 28/06/1996 (ANA- F. Stangos)

    Irish Prime Minister John Bruton yesterday adopted an attitude of "equal distances" between Greece and Turkey over differences in the Aegean, claiming that these centered more on the procedure for their resolution than substance.

    "One side was asking for dialogue to begin before recourse to international arbitration or the International Court, and the other side the exact opposite," he said in statements in Dublin a few days before his country assumes the European Union's rotating presidency.

    "Greece should be solving its regional dispute rather than trying to enforce an issue artificially in the IGC," he added.

    [14] Turkish culture minister wants to turn Byzantine Cathedral into a mosque

    Istanbul, 28/06/1996 (ANA)

    Turkish Culture Minister Agiah Oktay Guner will take action to have the Agia Sophia Cathedral in the Black Sea city of Trabzon, now operating as a museum, turned into a mosque "as soon as possible."

    Mr. Guner made the disclosure last week and said the decision to turn the Byzantine-era church into a museum 36 years ago was "illegal."

    The Turkish minister belongs to the Motherland Party's Islamist-nationalist wing, and has annoyed the liberal sector of Turkish society with many decisions, changing the cultural policy of previous governments, critics charge.

    Mr. Guner said "the museum will be transferred to a new building and Agia Sophia of Trabzon will operate again as a mosque."

    In an interview with the newspaper "Zaman", Mr. Guner said that "the building of the Trabzon museum has been delayed for years", adding that he had taken the necessary measures "for the completion of building as soon as possible so that the transfer can take place and Agia Sophia can operate as a mosque."

    [15] State cannot intervene in scientific research, Greece tells Bulgaria

    Athens, 28/06/1996 (ANA)

    The foreign ministry yesterday responded to Bulgarian protests over the publication of the first Greek-Pomak language dictionary saying there was no problem in Greece with respect to the Moslem minority and its right to use the language of its choice.

    Bulgarian Foreign Minister Georgi Pirinski recently protested verbally to Greece's ambassador in Sofia about the dictionary.

    The estimated 250,000 Pomaks living in Bulgaria and approximately 35,000 in Greece are characterized by Sofia as Bulgarian-speaking Moslems.

    "Everyone is free to conduct scientific research and publish works or views and it is not even permitted for the State to intervene," foreign ministry spokesman Costas Bikas said in response to the protest.

    Mr. Bikas underlined that the further development of Greek-Bulgarian relations had been a cornerstone of Greek foreign policy for decades.

    He warned that "anyone either here or in Bulgaria who attempts to undermine our bilateral relations by spreading groundless rumors or raising non-existent issues is serving other interests and the suspicious designs of third parties".

    [16] US's Tarnoff due in Greece next week

    Athens, 28/06/1996 (ANA)

    US Under-secretary of State Peter Tarnoff will visit Greece on July 3 for talks with the Greek government, the foreign ministry announced today.

    Ministry spokesman Costas Bikas declined to comment on the content of the talks but said Mr. Tarnoff would fly on to Ankara after Athens.

    [17] Germany retains position as Greece's largest trading partner

    Athens, 28/06/1996 (ANA)

    Germany remains Greece's largest trading partner, but the bilateral trade balance has shown a considerable decrease in past years, and as a result the total volume of bilateral trade has dropped by 8.14 per cent, reaching 8.2 billion deutschmarks.

    The development was disclosed by the president of the German-Hellenic Chamber of Commerce and Industry, Theodoros Sarantopoulos, at the chamber's annual general assembly yesterday.

    Mr. Sarantopoulos attributed the decline in bilateral trade to lower demand for Greek products in the German market, due to the recession in the German economy, and to an increase in the drachma parity with the currencies of other countries. He said the increase in the drachma parity limited competitiveness of Greek products considerably.

    He also expressed a view that the negative development in trade relations between the two countries would be reversed both with the overcoming of the recession and an increase in demand in both countries, as well as with the utilization of close relations and existing distribution channels.

    Mr. Sarantopoulos also referred to the importance of building the new Athens international airport at Spata, which constitutes the largest German investment in Greece, as the project has been awarded to a group of German companies.

    [18] Agriculture Bank profits amount to 15.8 billion drachmas in '95

    Athens, 28/06/1996 (ANA)

    Agricultural Bank of Greece (ATE) profits amounted to 15.8 billion drachmas in 1995. Out of this amount, 2.05 billion drachmas constituted the bank's business profit compared to 1.6 billion drachmas in 1994, while the remaining 13.75 billion drachmas resulted from returning a part of the Greek Sugar Industry's shares to the stock exchange.

    ATE's economic results were announced by its Governor Dimitris Kanellopoulos during the bank's general assembly yesterday.

    Mr. Kanellopoulos stressed the importance of these business profits, since they were achieved in a fiscal year dominated both by the measures and consequences of restructuring the bank's loans treasury and the intensity of the modernization programme, budgeted at more than five billion drachmas.

    ATE's governor said the restructuring of the loans treasury deprived the bank of an annual amount which, with the present level of interest rates, exceeded 20 billion drachmas.

    End of English language section.

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