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A.N.A. Bulletin, 03/07/96

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

Athens News Agency Directory

ATHENS NEWS AGENCY BULLETIN (No 926), July 3, 1996

Greek Press & Information Office

Ottawa, Canada

E-Mail Address: grnewsca@sympatico.ca


CONTENTS

  • [1] Romeos visit emphasizes close Greek-Bulgarian co-operation

  • [2] Warnings issued in anticipation of heat-wave

  • [3] High-ranking US delegation arrives to discuss Greek-Turkish relations

  • [4] New Islamist leader's comments on Greece

  • [5] Defense ministry denies Erbakan claim on Greek violations

  • [6] Spring says he'll attempt to persuade Athens to lift veto on EU funding to Turkey

  • [7] Greek Moslems arrested in Turkey

  • [8] Turkey deports three Greek human rights workers

  • [9] Gov't spokesman

  • [10] German federal court ruling leaves open possibility of reparations claims by individuals

  • [11] Romanian foreign minister to visit Athens

  • [12] Erbakan congratulates Simitis on his victory at PASOK congress

  • [13] ND prepares for early elections

  • [14] Important PASOK central committee anticipated this Friday

  • [15] Tsovolas' DHKKI lambasts Simitis' election to PASOK's helm

  • [16] Gov't responds to opposition criticism on PASOK congress

  • [17] New book details Mitsotakis government's fall

  • [18] Int'l symposium on environmental issues organized by the Ecumenical Patriarchate

  • [19] Eurocourt cites Greece for violating E.U. law on public sector hirings

  • [20] Greek regional official signs Valencia Charter

  • [21] More Greeks declaring income, finance ministry figures show

  • [22] EC moves to protect 64 Community agricultural products

  • [23] National Bank of Greece announces interest rate changes

  • [24] Drachma gains against most European currencies in first half of year

  • [25] ATE to consider 94 investment plans during last half of '96


  • [1] Romeos visit emphasizes close Greek-Bulgarian co-operation

    Sofia, 03/07/1996 (ANA - N. Hios)

    The high level of friendship and co-operation between Athens and Sofia was confirmed yesterday during official meetings Alternate Foreign Minister George Romeos had with Sofia's leadership.

    The Greek minister is on a three-day working visit to the neighboring country as part of an effort to further develop bilateral co-operation within the framework of the European Union.

    Mr. Romeos met yesterday with Bulgarian Prime Minister Zhan Videnov and Bulgarian President Zhelyu Zhelev, discussing bilateral relations and co-operation. During the two meetings, it was confirmed and constitutes a stable policy of both Athens and Sofia.

    He also met with Irina Bokova, the Bulgarian foreign under-secretary responsible for relations with the EU. During the meeting both sides agreed on establishment of a permanent communication framework on two levels.

    One level concerns the provision of technical assistance to the Bulgarian government for implementation of an association agreement with the EU and preparation for Bulgaria's future entry into the 15-member Community, as well as Greece's organization of training seminars.

    The second level concerns support of Bulgarian positions in the Union's institutional bodies.

    Bulgaria is an associate member of the EU and has submitted an application to become a full member.

    Mr. Romeos also met with Bulgarian Under-secretary for External Trade Sofroniev, while he was also due to meet with Bulgarian Foreign Minister Georgi Pirinski.

    During his visit to Sofia, the Greek alternate foreign minister was invited to a meeting of the Bulgarian Parliament's foreign policy committee, where issues discussed included reports in the Bulgarian press claiming that the Greek government was promoting creation of a "Pomak nation" in Thrace, following the recent publication of a Pomak-language dictionary.

    "It is unacceptable and dangerous for a private initiative such as the publishing of the dictionary to take on political dimensions, which could poison relations between the two countries," Mr. Romeos said.

    "The Balkans have paid dearly for such extremism," he said, stressing that "politicians are obliged not to be led astray by irresponsible elements that promote non-existent issues."

    [2] Warnings issued in anticipation of heat-wave

    Athens, 03/07/1996 (ANA)

    The National Emergency Center (EKAB) has issued a warning to the public to expect temperatures of up to 38 degrees Celsius today, and a heat-wave in the region of 40 degrees in some parts of the country, including Athens, as of tomorrow until Saturday .

    Officials expect air pollution to worsen over the same period, given the absence of strong winds and with the atmosphere in Athens expected to be suffocating. EKAB said its services have been fully alerted to treat cases of heatstroke at air-conditioned hospital wards.

    People are advised to eat light meals, avoid alcoholic drinks, have frequent showers, avoid strenuous manual work, dress lightly with cotton clothes and drink fruit juices or water.

    The most sensitive categories of people are infants, small children, the elderly and people staying outdoors such as workers, farmers and athletes. The general public is advised to avoid exposure to the sun and stay in cool places.

    EKAB advises relatives and friends of people over 70 suffering from chronic conditions to keep close to them over the three-day period, and if this is not possible to call them up frequently during the day to prevent unfavorable developments and phenomena such as those occurring during the great heat-wave in 1987.

    People taking medication should also keep in contact with their physicians since certain medicines tend to increase body temperatures.

    [3] High-ranking US delegation arrives to discuss Greek-Turkish relations

    Athens, 03/07/1996 (ANA)

    Greek-Turkish relations and particularly the situation in the Aegean will be discussed today in meetings between a high-ranking US delegation and Athens' top government leadership.

    Specifically, US Assistant Secretary of State Peter Tarnoff and Assistant Defense Secretary Jan Lodal are scheduled to meet Prime Minister Costas Simitis, Foreign Minister Theodoros Pangalos and National Defense Minister Gerassimos Arsenis.

    Mr. Pangalos will meet Mr. Tarnoff at noon, while Mr. Arsenis will meet Mr. Lodal half an hour later. At 7 p.m., the two US administration officials will visit Mr. Simitis at the Maximos Mansion.

    According to diplomatic sources, Mr. Tarnoff and Mr. Londal, who were due in Athens from Ankara late last night, are expected to exert pressure on Athens once again for adoption of a package of Confidence-Building Measures (CBMs) for the Aegean, in order to avert the danger of a new incident this summer, and while the situation in Turkey continues to be unstable.

    The Greek side, according to sources, will reiterate what it had told Assistant Secretary of State John Kornblum during his recent visit to Athens, namely, that it is not prepared to accept the logic of adopting CBMs in the Aegean and will insist on the need to implement the 1988 Papoulias-Yilmaz agreement.

    Moreover, Mr. Pangalos will place particular emphasis on the issue of continuous and provocative violations of Greek national air space and territorial waters by Turkish military forces, noting that the violations increased the danger of an incident between the two countries.

    Sources said the Greek side is expected to listen to the US officials with interest, without however, anticipating spectacular results from the meetings.

    In addition, Mr. Pangalos briefed Mr. Simitis at the Maximos Mansion yesterday on the content of Mr. Tarnoff and Mr. Lodal's visit, as well as on other current foreign policy issues.

    [4] New Islamist leader's comments on Greece

    Istanbul, 03/07/1996 (ANA/Reuter)

    Turkey's new Prime Minister Necmettin Erbakan announced yesterday that he wants a peaceful solution to problems with Greece, while at the same time accusing Greece of violations of Turkish air space.

    "We want to sort out our relations with Greece in a peaceful manner but won't tolerate Greece's actions and its blackmail policy," Mr. Erbakan said in a statement issued after talks with Mr. Tarnoff and Mr. Lodal, who visited him in Ankara yesterday.

    "Just yesterday, Greek planes in the Aegean... entered 10 miles into our air space. This is an open provocation," the statement added.

    Speaking to reporters after Mr. Erbakan's meeting, the minister to the prime minister's Office Abdullah Gul said the Turkish prime minister assured the US officials that Turkey had no designs on Greek territory, but would not allow Athens to contest areas which did not belong to it and violate treaties.

    Mr. Erbakan noted the "good intentions" and efforts of friendly countries to mediate, telling the US officials "that Athens is continuing provocations."

    "We think that our mutual friend, the United States, can contribute towards having the Greek government arrive at a reasonable policy and avert harm for the interests of Ankara," he reportedly said.

    Mr. Erbakan termed the Cyprus question a "national issue", adding that Turkey would not accept any change posing a threat to the interests of "our brethren in Cyprus."

    [5] Defense ministry denies Erbakan claim on Greek violations

    Athens, 03/07/1996 (ANA)

    The national defense ministry last night denied a claim by Turkey's new Islamist Prime Minister Necmettin Erbakan that Greek fighters violated Turkey's air space, saying his allegation is "totally untrue".

    A defense ministry statement said that on t he contrary, Turkish fighters violated Greek air space "as part of their standard practice". The ministry stressed that within the framework of the 1988 Papoulias-Yilmaz agreement, no exercises are carried out in the Aegean during July and August, stressing therefore, that the new Turkish premier's report lacks substance.

    Earlier, Mr. Erbakan accused the Hellenic Air Force of violating Turkish air space. He said Greek planes in the eastern Aegean entered 10 miles into Turkish air space.

    "This is an open provocation," he added.

    [6] Spring says he'll attempt to persuade Athens to lift veto on EU funding to Turkey

    Dublin, 03/07/1996 (ANA/AFP)

    Irish Foreign Minister Dick Spring, the acting president of the European Union Ministers' Council for the next six months, announced yesterday that he will visit Athens next week in order to persuade Greece to lift its veto on Community aid to Turkey.

    Speaking during a press conference, Mr. Spring said Ireland considers the lifting of the veto as a gesture which is "very important for the economic stability and political security of the whole Mediterranean region."

    The Greek veto on the financial part of the European Union-Turkey customs union agreement is also preventing the EU from implementing the MEDA programme, which provides financial aid to Mediterranean countries of some four billion ECU until 1999.

    Mr. Spring stressed the particular strategic importance of Turkey for the European Union, saying he believes his Greek counterpart will accept the lifting of the veto during the forthcoming foreign ministers' meeting in Brussels on July 15.

    [7] Greek Moslems arrested in Turkey

    Istanbul, 03/07/1996 (ANA)

    Four Greek Moslems, among them the president of the "Alliance of Solidarity of Western Thrace Turks" Taner Mustafaoglou, were arrested in Istanbul yesterday by Turkish police while staging a protest outside the building housing the Greek consulate in the city.

    The four men were protesting the appointment of a five-member committee to oversee the minority's religious and public welfare institutions in Western Thrace.

    [8] Turkey deports three Greek human rights workers

    Istanbul, 03/07/1996 (ANA)

    Turkey yesterday deported three Greek human rights workers investigating conditions in Turkish jails, following their arrest outside Istanbul's Bairabassa jail on Monday.

    The three, members of an international team looking into conditions for Turkish and Kurdish hunger strikers in Istanbul jails, arrived in Athens at noon.

    Magda Spiliopoulou, a representative of the Coalition of the Left and Progress's human rights department, Dimitris Hatzipanayiotou, from the Athens Bar Association, and his wife, Kanella, a representative of the Greek Committee for International Democratic Solidarity, were arrested by Turkish police as they and a German member of the team, Greens party Eurodeputy Heidi Lipmann, spoke to reporters outside an Istanbul jail. Turkish authorities said they had been arrested on charges of giving interviews to the press without prior permission.

    The Greek consul in Istanbul Grigoris Vasilokonstantakis was informed of the arrests by Ms Lipmann and closely followed developments while, in Athens, the Coalition party condemned the arrests.

    [9] Gov't spokesman

    Athens, 03/07/1996 (ANA)

    Government spokesman Dimitris Reppas said the arrest and deportation of the three Greek human rights workers proves that "procedures for the expression of views in Turkey are subject to some restrictions."

    Mr. Reppas noted the three were participating in a human rights group with German civilians, who were treated in the same way. He added that Greek consular authorities are currently cooperating with German consular authorities in order to take initiatives if necessary.

    [10] German federal court ruling leaves open possibility of reparations claims by individuals

    Bonn, 03/07/1996 (ANA - P. Stangos)

    The German Federal Constitutional Court in Karlsruhe yesterday released a decision, dated May 13, that opens a "window" for the filing of individual compensation suits against the German state by Nazi-era wartime victims, thereby rejecting Bonn's standard argument that, according to international law, reparation claims can only be made at an inter-state level.

    "There is no rule of international law of general application, according to which individual claims which concern wartime events can be exclusively settled on the basis of international law (i.e. at an inter-state level), and more specifically, only through peace treaties," the court opined in connection with a case of Jewish, Polish, and Hungarian citizens who had filed compensation claims for wartime hard labor in German armaments industries. The case was litigated before the Bonn First Instance Court.

    It added, however, that such cases can be settled through agreements on the basis of international law by the competent court.

    The ruling holds implications for compensation suits filed by Greek citizens, in the sense that when they reach the Bonn First Instance Court, this will essentially be called upon to decide on the bilateral Greek-German agreement of March 18, 1960, whereby Germany paid Greece 115 million deutchmarks as compensation for the victims of the wartime occupation and their families.

    Prospects for the Greek suits being endorsed by the German courts are not considered especially favorable, as the Constitutional Court ruling defines the legal framework of adjudication as "the national law of the state which caused the damage".

    [11] Romanian foreign minister to visit Athens

    Athens, 03/07/1996 (ANA)

    Romania's Foreign Minister Teodor Melescanu will pay an official visit to Athens on July 8-9, at the invitation of his Greek counterpart Theodoros Pangalos, the Romanian Embassy announced yesterday.

    The two ministers are expected to discuss issues of regional development and co-operation as well as Romania's participation in European and Euro-Atlantic bodies.

    Mr. Melescanu will also meet with the President of the Republic Kostis Stephanopoulos, Parliament President Apostolos Kaklamanis and other officials, with talks expected to focus on "strengthening the already excellent ties between Romania and Greece".

    [12] Erbakan congratulates Simitis on his victory at PASOK congress

    Istanbul, 03/07/1996 (ANA)

    New Turkish Prime Minister Necmettin Erbakan addressed a message of congratulations to his Greek counterpart Costas Simitis on his election to the presidency of the ruling PASOK party.

    An announcement by the Turkish prime minister's office said that in his message, Mr. Erbakan conveyed "sincere wishes over your election to the presidency of PASOK."

    Meanwhile, commenting on the election of Prime Minister Simitis to the post of party leader, Turkish diplomats said yesterday this would not affect Turkey's stance toward Greece.

    With a reminder of the proposals made by former Turkish Prime Minister Mesut Yilmaz, they said Turkey would implement a wait and see approach, stressing that relations would depend on the steps taken by Mr. Simitis."

    Diplomatic sources, however, point to the continued political instability in Turkey and warn that it is unlikely definite steps with regards to relations will be taken soon.

    [13] ND prepares for early elections

    Athens, 03/07/1996 (ANA)

    Main opposition leader Miltiades Evert has put New Democracy on "election alert", following a meeting of the party's Central Electoral Committee.

    A spokesman said Mr. Evert believed recent developments in ruling party PASOK were a precursor to elections, which could "happen at any moment (but were most likely in autumn) because the structure of the government does not guarantee the country's stability and, secondly, because there are crucial national and economic problems developing".

    According to sources, Mr. Evert presented ND's "battle plan" at the meeting. The fight, he said, will focus on three levels: ideology, programme (which, he said, ND must emphasize), and recent achievements (which should include those of the Mitsotakis government).

    [14] Important PASOK central committee anticipated this Friday

    Athens, 03/07/1996 (ANA)

    Close aides of the prime minister were categorically stressing yesterday that the "gaps" that surfaced during the recent PASOK congress must close at Friday's first session of the new central committee, which will also elect the party's new executive bureau.

    They added that Prime Minister Costas Simitis was expected to undertake initiatives with this concern in mind, and that following his endorsement by congress, he could rightfully expect to wield a majority of supporters in the party's collective organs.

    According to tentative estimates, 10 to 12 executive bureau members will lean toward the prime minister, with another six belonging to Interior, Public Administration and Decentralization Minister Akis Tsohatzopoulos.

    By contrast, re-election of central committee Secretary Costas Skandalidis is considered certain.

    In view of developments within the party and the problems facing the government, the premier's aides were also saying that Mr. Simitis did not intend to encourage scenarios concerning a government reshuffle or early elections.

    Government spokesman Dimitris Reppas has repeatedly rejected in the last few days any such possibility, saying that a reshuffle was the last thing that concerned the prime minister, and that elections would take place at the end of the government's four-year term.

    [15] Tsovolas' DHKKI lambasts Simitis' election to PASOK's helm

    Athens, 03/07/1996 (ANA)

    An announcement by Democratic Social Movement (DHKKI) leader Dimitris Tsovolas and the party's political secretariat yesterday on the occasion of Costas Simitis' election to the presidency of the ruling PASOK party, said PASOK was undertaking the great task of revealing what it called "the conservative conspiracy aimed at trapping the progressive popular movement and further impoverishing citizens."

    DHKKI said the Federation of Greek Industries (SEB), the Athens Stock Exchange, the mass media establishment and what it referred to as powerful economic interests, "the mercenaries responsible for opinion polls," as well as "made-to-order" public opinion analysts and other "popular forces" were celebrating over the election of Mr. Simitis and PASOK's "new era."

    The announcement said that justifiably the main opposition New Democracy party was trembling before this new block "of forces of change", those composing PASOK which had been "resurrected" to the point of becoming a monstrous offspring, and concluded that "ND had nothing left to express."

    [16] Gov't responds to opposition criticism on PASOK congress

    Athens, 03/07/1996 (ANA)

    Government spokesman Dimitris Reppas said yesterday that unfavorable comments by New Democracy leader Miltiades Evert and Political Spring (Pol.An) leader Antonis Samaras concerning the PASOK congress and election of Costas Simitis as PASOK president are an attempt at gathering opposition party forces.

    Mr. Reppas criticized both political leaders for connecting this attempt with demands and recourse to early elections. He called on both men to refrain from making such demands because he said they have negative consequences on Greek society and the economy.

    Commenting on statements made by Mr. Evert, the government spokesman said the ND leader had been elected in the past only by the party's Parliamentary group and later by an electoral body which numbered at around 200 members.

    "There is a huge difference between closed-door procedures in relation to open, mass democratic procedures followed by our party," Mr. Reppas stressed.

    Commenting on statements by Mr. Samaras, in which the Pol.An leader characterized Mr. Simitis as an "appointed" prime minister, Mr. Reppas said "I don't imagine (Mr. Samaras) doubts the legality and constitutionality of Mr. Simitis being prime minister of Greece. Procedures for the appointment of Mr. Simitis conform entirely to the Constitution, the laws and the charter of PASOK."

    [17] New book details Mitsotakis government's fall

    Athens, 03/07/1996 (ANA)

    A book by journalist Giorgis Massavetas entitled "Topple Mitsotakis-The backstage of a political conspiracy" claims that the Mitsotakis government was undermined from the very start by Miltiades Evert, Antonis Samaras and other senior ND cadres, as well as by the large publishing interests.

    Presentation of the book was attended by former prime minister Constantine Mitsotakis, main opposition New Democracy party deputy and Mr. Mitsotakis' daughter Dora Bakoyianni, as well as other ND deputies Sotiris Kouvelas, Costas Pylarinos, George Voulgarakis, Christos Antoniou, Panayiotis Hatzinikolaou, Petros Tatoulis, Vangelis Meimarakis, former deputies and many other people.

    Commenting on the book afterwards, Mr. Mitsotakis said it was an interesting book which was written by an authoritative journalist referring to a troubled period.

    An address was also made by former minister Andreas Andrianopoulos, who said ND had followed a tragic course, pursued its self-destruction and had been undermined by its own cadres.

    Referring to the Mitsotakis government, Mr. Andrianopoulos said the present PASOK government had vindicated the choices it had made at the time and the only side remaining silent was ND.

    Mr. Andrianopoulos said that with one move Prime Minister Costas Simitis had managed "what our side did not succeed in doing."

    In his book, Mr. Massavetas analyses how he claims the Mitsotakis government was brought down, and presents a large part of discussions and confessions Mr. Mitsotakis made to him.

    It also refers to a dialogue between "Intracom" company president Socrates Kokkalis and then alternate national economy minister Aristidis Tsiplakos, which contained an ultimatum for the overthrow of the Mitsotakis government.

    Called on to comment on the outcome of the ruling PASOK party's congress last week, Mr. Mitsotakis said "PASOK resolved its problem in the best possible way. But it did not resolve the problems of Greece."

    [18] Int'l symposium on environmental issues organized by the Ecumenical Patriarchate

    Athens, 03/07/1996 (ANA)

    An international symposium on "Religion, Science and the Environment" next year, which will focus on the problems of the Black Sea and is organised by the Ecumenical Patriarchate, was announced by Ecumenical Patriarch Vartholomeos yesterday in his address at a seminar taking place in the Halki Theological School's building.

    The symposium, "Environment and Communications," will begin on Aug. 21, 1997 in Thessaloniki, which is to be the Cultural Capital of Europe next year, and will continue in Istanbul, Bulgaria, Romania, Ukraine, Russia and Georgia before returning to Istanbul.

    Apart from the keynote address of the Patriarch, messages at the opening ceremony were read on behalf of US President Bill Clinton, European Commission President Jacques Santer and Prince Phillip, the Duke of Edinburgh.

    Opening addresses were also made in person by Rahmi Koc, president of TURMEPA, and Dimitrios Mitsatsos, the director general of HELMEPA.

    [19] Eurocourt cites Greece for violating E.U. law on public sector hirings

    Brussels, 03/07/1996 (ANA - M. Spinthourakis)

    The European Court yesterday issued a decision convicting Greece of violating Article 48 of the Maastricht Treaty concerning the free movement of people between member-states and of violating Community regulations concerning the hiring of citizens from other member-countries in the public sector.

    Belgium and Luxembourg were also convicted of similar violations.

    The Eurocourt judged that the condition of Greek nationality set for hiring in a series of public sector areas goes against Community law, adding that Greece must adopt necessary legislative changes with an aim of ending discrimination on the grounds of nationality.

    The Eurocourt said conditions of nationality can only be applied in cases of positions "which result in the indirect or direct participation in the exercising of public power and in duties concerning the safeguarding of the state's general interests."

    The European Court convicted Greece for using conditions of nationality in various public sector jobs, such as television, air, sea and rail transport, research for non-military purposes, telecommunications and for appointments in the National Operas as well as municipal and community orchestras.

    Particular mention was made to appointments to the National Opera House, as the procedure of Greece coming before the European Court on this matter began in 1991 when the opera's authorities refused to hire a German musician on the grounds of his nationality.

    For appointments to the majority of public sector positions, a knowledge of the Greek language can be considered as a necessary prerequisite.

    [20] Greek regional official signs Valencia Charter

    Athens, 03/07/1996 (ANA)

    The general secretary for the Western Greece Region, Vasiliki Mosialou, yesterday signed the Valencia Charter, which was drawn up last November during a meeting of EU regional ministers and general secretaries in Valencia, Spain. The charter determines the role of the regions in environmental policy and notes the need to institute "open structures" in the regions that "make possible the active participation and acceptance of environmental policies."

    Regions co-signing the charter are obliged to contribute to minimizing environmental problems caused by the use of non-renewable energy sources and water, to develop regional forestry strategies and to push through corresponding policies on industry, commerce and tourism.

    [21] More Greeks declaring income, finance ministry figures show

    Athens, 03/07/1996 (ANA)

    More than 3.9 million Greeks submitted tax declaration forms this year, up from last year's figure of 3.489 million, the finance ministry said yesterday.

    According to the ministry, processing of the declarations is speedier this year, with figures showing that some 550,000 more declarations have been processed to date than at the same time last year.

    Declared revenue has increased 25 per cent over that declared in the previous year.

    [22] EC moves to protect 64 Community agricultural products

    Brussels, 03/07/1996 (ANA - P. Pantelis)

    European Community legislation has granted protection to another 14 traditional Greek agricultural products and foodstuffs.

    Following the final granting of Community protection to 318 EU products, including Greece's feta cheese and another 44 Greek products, the European Commission yesterday adopted legislation for the protection of a further 64 Community agricultural products, 14 of which are Greek.

    The European Commission is expected to approve protection for other traditional agricultural products and food soon.

    [23] National Bank of Greece announces interest rate changes

    Athens, 03/07/1996 (ANA)

    The National Bank of Greece announced that as of Monday July 8 it will reduce the ordinary savings bank interest rate from 12.50 per cent to 12.25 per cent.

    Moreover, on the same date it will increase consumer credit interest rates as follows: Consumer loans to 24.50 per cent from 24 per cent; personal loans to 25.50 per cent from 25 per cent and credit cards to 27 per cent from 26 per cent.

    The National Bank announced on the occasion that on the first and third Friday of every month, or extraordinarily, provided market conditions necessitate it, it will decide on possible adjustments of its interest rates (loans and deposits) and brief the public through the press.

    [24] Drachma gains against most European currencies in first half of year

    Athens, 03/07/1996 (ANA)

    The drachma gained against most European currencies in the first half of the year, according to data issued yesterday by the Ionian Bank.

    The national currency gained 4.27 per cent against the German deutschmark; 6.06 per cent against the Swiss Franc; 5.87 per cent against the Finnish Mark; 4.36 per cent against the Belgian Franc; 4.31 per cent against the Austrian Schilling and 4.32 against the Dutch Guilder.

    Appreciation was smaller against the Danish Crown (3.86 per cent); the French Franc (2.71 per cent); the Norwegian Crown (1.33 per cent); the Spanish Peseta (3.49 per cent) and the Portuguese Escudo (2.51 per cent).

    By contrast, the drachma depreciated against the Italian Lira (4.84 per cent); Pound Sterling (1.66 per cent); the Irish Punt (1.01 per cent), and the Swedish Crown (0.66 per cent).

    The drachma also gained against the ECU (1.44 per cent), the Japanese Yen (5.15 per cent), while the US Dollar gained 1.51 per cent.

    The Bank of Greece's exchange policy aims at maintaining the drachma's parity at average stable levels against the ECU. As Bank Governor Loukas Papadimos has explained, this does not mean that the national currency will remain stable throughout the year, but will fluctuate depending on the circumstances in exchange markets.

    [25] ATE to consider 94 investment plans during last half of '96

    Athens, 03/07/1996 (ANA)

    The Agricultural Bank of Greece (ATE) received 94 investment plans for ratification and inclusion in the development law during the second half of this year - plans which amount to 14.2 billion drachmas.

    Compared to the previous six-month period, the number of applications is 27 per cent higher.

    Out of those applications, 69 investment plans amounting to 8.8 billion drachmas concern the first-stage sector and 25 investment plans amounting to 5.4 billion drachmas concern the services sector.

    Forty-eight applications were submitted to ATE branch offices in the regions of eastern Macedonia and Thrace and central and western Macedonia, according to ATE.

    End of English language section.

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