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Athens News Agency: Daily News Bulletin in English, 97-07-02

Athens News Agency: Daily News Bulletin in English Directory - Previous Article - Next Article

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

ATHENS NEWS AGENCY BULLETIN (No 1226), July 2, 1997

Greek Press & Information Office
Ottawa, Canada
E-Mail Address: grnewsca@sympatico.ca


CONTENTS

  • [01] Greece reserved on Turkish decision for moratorium in Aegean
  • [02] Turkish military announcement
  • [03] US response
  • [04] Cyprus enters direct talks with 'good will', Clerides stresses
  • [05] Cyprus in next EU enlargement
  • [06] Turkey again threatens to annex occupied part
  • [07] Greek, Cypriot protests over participation of pseudo-state
  • [08] ND leader criticizes Gov't for 'poor management'
  • [09] European court upholds disqualifying of Greek MPs
  • [10] Gov't defends Papandreou against Kokkalis statements
  • [11] International team begins ozone research program
  • [12] Greek, US officials have talks on security issues
  • [13] Pangalos meets with Chinese president, premier
  • [14] Greece pleased with conduct of Albanian elections
  • [15] Greece supports Yugoslavia's integration into int'l community
  • [16] Neolithic pile-dwellings to be reconstructed in Kastoria
  • [17] Halkidiki first in 'Blue Flags'
  • [18] Anthony Quinn received by V. Papandreou
  • [19] Summer sales season begins
  • [20] Registry for mail order, telephone sales firms
  • [21] Bulgarian approval for new border bridge
  • [22] Athens Stock Exchange, FTSE Int'l present new index
  • [23] Greek economy in non-inflationary growth course, Alpha survey
  • [24] Domestic air fares, postage prices rise
  • [25] Stock prices move up in light trade
  • [26] Stalemate in talks over civil aviation work stoppages
  • [27] Public Power Corporation procurement policy progress
  • [28] Sixth straight win for Greece at EuroBasketball Championship

  • [01] Greece reserved on Turkish decision for moratorium in Aegean

    Athens, 02/07/1997 (ANA)

    Greece indirectly pointed to Turkey yesterday as making moves aimed only at creating impressions after Ankara's announcement yesterday to "limit" Turkish military exercises in the Aegean between July 1 and Aug. 15.

    Athens stressed that it supports confidence-building measures (CBMs) "which do not falsify sovereign rights and international duties assigned to it (Turkey)."

    A lengthy government announcement issued late last night termed as unacceptable "Turkey's demand for 'reciprocity' in briefing Turkish authorities in connection with Greek aircraft flights over the Aegean, a fact which conceals its (Turkey) real aims.

    "The region of the Aegean constitutes a region of Greek responsibility and Flight Information Region (FIR) management and includes in its entirety the considerable part of the Greek state. The IFF/SIF system does not provide a solution. The problem is not the identity of the aircraft but their attitude," the government announcement read.

    On the question of abstention from exercises during the summer months, Greece accused Turkey of "backtracking" on the commitment which the two countries assumed with the 1988 Papoulias-Yilmaz agreements, and which was confirmed through the NATO Secretary General in June 1996 regarding abstention from exercises. This mutual commitment, the government added, includes all of July and August.

    Athens further charged that Ankara is now announcing a "unilateral commitment" which comes to an end on Aug. 15, while Greece will observe in full the two-month commitment in accordance with the agreement which has been signed.

    In connection with armed warplanes, the Greek government mentions that Hellenic Air Force aircraft "in any case do not carry weapons in their training missions, but will continue to carry out those missions which concern the security of navigation in the Aegean in the way imposed by regulations."

    The government announcement stresses that every decrease in tension in the Aegean contributes to an improvement in security and the climate in the region and is welcome. In parallel, it reminds that "tension in the Aegean is due exclusively and solely to the aggressiveness shown by the Turkish side, with territorial claims, by disputing law, rules and agreements which define the existing status and with daily pressure created by violations of air traffic rules, as well as violations of national airspace ."

    However, the government notes as positive Ankara's statement that it will "pedantical-ly observe the implementation of international rules in its activities on the sea and in the air," which emanates from the Papoulias-Yilmaz agreements.

    The government said it expected that in these activities in international waters and in the international airspace of the Aegean, the Turkish side will observe international rules and regulations in their entirety and not selectively.

    Greece has charged for years that Ankara's warplanes violate the Athens FIR and Greek airspace.

    Greece expresses the hope that the effort undertaken by the NATO Secretary General will continue on shaping mutually acceptable measures which will decrease tension in the direction of the Papoulias-Yilmaz agreements in a climate of respect for international law and the status quo in the region and that the Turkish government's intention is moving in this direction, as it should do, and not in the direction of creating impressions.

    [02] Turkish military announcement

    Istanbul, 02/07/1997 (ANA/Reuter)

    Turkey's armed forces said that they would temporarily limit activity in the Aegean, in order to support NATO-led measures for the reduction of tension between Greece and Turkey.

    "The Turkish navy and air force will carry out routine training and reconnaissance activities in the Aegean between July 1 and Aug. 15 but there would be no maneuvers during the period," Turkish military headquarters announced in a statement.

    Turkey regularly carries out war games in the Aegean in the summer.

    The military said Turkish aircraft would not be armed when operating over the Aegean. However, it held out the possibility of an exchange of information between Greece and Turkey on air operations in the region.

    It said the move was being made "to support the initiative of NATO General Secretary (Javier) Solana, who has made great efforts on measures to reduce tension in the Aegean and build confidence."

    NATO members Turkey and Greece nearly came to blows in January 1996 after Ankara disputed Athens' sovereignty of the Imia islets.

    [03] US response

    Washington, 02/07/1997 (ANA/AFP)

    The United States expressed satisfaction with Ankara's decision, a US Defense Department official said yesterday.

    "We hail all measures taken by all sides to de-escalate tension in the Aegean and believe that this is a commendable measure".

    [04] Cyprus enters direct talks with 'good will', Clerides stresses

    Athens, 02/07/1997 (ANA)

    Cyprus will enter UN-sponsored direct talks with "good will" but determined to safeguard the interests of the island republic, visiting Cyprus President Glafcos Clerides said yesterday after talks with Prime Minister Costas Simitis, which confirmed the close co-operation between the two governments. Mr. Clerides is in Athens for consultations ahead of his scheduled UN-sponsored direct talks with Turkish Cypriot leader Rauf Denktash, scheduled to take place near New York City between July 9-13.

    Speaking to reporters after the meeting, Mr. Simitis said the Clerides-Denktash talks should serve as an opportunity or even lead to a just and viable solution for the Cyprus problem, in accordance with UN resolutions and the 1977 an d 1989 summit decisions between Greek and Turkish Cypriots.

    Mr. Simitis reiterated that the international community should realize that it was the Turkish side which should conform with international legality and remove the consequences of its 1974 invasion and current occupation of one third of the island republic.

    The premier welcomed international initiatives being undertaken aimed at finding a settlement to the problem, provided they were within the framework set by the UN Secretary General.

    The prospect of Cyprus' accession to the European Union, Mr. Simitis stressed, could act as a catalyst for developments in the Cyprus problem, "which means that the solutions being pursued must be compatible with European law and order."

    Summing up Greece's primary objectives with respect to Cyprus, Mr. Simitis said they were "inde-pendence, territorial integrity, security, sovereignty and Cyprus' accession to the EU."

    Thanking Mr. Simitis and the Greek government for their support to date, "without which it would not be possible now to hope for some success," Mr. Clerides said that in all his contacts with Athens, decisions had been taken unanimously on the best way to handle the Cyprus issue.

    Mr. Clerides said the Cyprus government would be entering into talks with Mr. Denktash with "good will" but determined to protect the just causes and interests of the island republic.

    Asked to comment on threats by Mr. Denktash that he may not participate in the talks if he is not informed on a document to be presented by the UN, President Clerides said this has nothing to do with the Cyprus government.

    "If Denktash does not go to the talks, this will be to the disadvantage of the Turkish Cypriot side and the Cyprus problem," he noted. Both Mr. Clerides and Mr. Simitis noted that Nicosia had invited the Turkish Cypriot side to participate in negotiations for Cyprus' accession to the EU, through chambers of commerce or trade union organizations which express Turkish Cypriot interests.

    Mr. Clerides underlined, however, that there could be only one Cypriot delegation, adding that the entire issue would be discussed with Mr. Denktash if it is raised by the Turkish Cypriot leader at the New York talks.

    The meeting was also attended by National Defense Minister Akis Tsohatzopoulos, Alternate Foreign Minister George Papandreou, Foreign Under-secretary Yiannos Kranidiotis as well as Cypriot Foreign Minister Ioannis Kasoulides, Cypriot government spokesman Manolis Christofides, Under-secretary to the President's Office Pantelis Kouros, Cypriot Attorney General Alecos Markides, Cypriot Ambassador to Athens Charalambos Christoforou and other officials from both sides.

    The UN-brokered direct talks between the Cypriot government and the Turkish Cypriot community will be attended by representatives of the Security Council's five permanent members, representatives of Greece, Turkey and Britain, which are the three guarantor powers for Cyprus, as well as representatives from Germany, Finland, Sweden, Norway, Italy, Canada and the European Union.

    [05] Cyprus in next EU enlargement

    Athens, 02/07/1997 (ANA)

    Cyprus will be part of the first phase of the next European Union enlargement, Alternate Foreign Minister George Papandreou and Foreign Under-secretary Yiannos Kranidiotis stated yesterday.

    However, they ruled out any institutionalized presence of the Turkish Cypriot community as a separate entity at the forthcoming accession negotiations Cyprus is due to start with the EU in 1998.

    Speaking after a meeting here yesterday with Cyprus Foreign Minister Kasoulides, Mr. Kranidiotis said "we exchanged views to coordinate our future moves in a spirit of close co-operation and friendship".

    He said the meeting was part of the regular exchanges Greece and Cyprus maintain as part of coordinated efforts to promote a solution of the protracted Cyprus problem.

    "Our meeting was particularly important in view of the direct talks on Cyprus," Mr. Kranidiotis said, and added that they discussed ways to accelerate the Cypriot application for EU membership.

    On his part, Mr. Papandreou said the EU Commission will issue its report on enlargement, entitled "Agenda 2000", in mid-July.

    [06] Turkey again threatens to annex occupied part

    Istanbul, 02/07/1997 (ANA - A. Kourkoulas)

    "Turkey attributes great importance to Cyprus, both from the point of view of security for the 'Turkish Republic of Northern Cyprus' and the view of security for Turkey itself," an announcement by the Turkish foreign minis try read yesterday.

    The announcement claims that the legally recognized government side is continuing to "arm itself with heavy weapons, is implementing the joint defense doctrine (with Greece) and is building military bases."

    Turkey also accused the Republic of Cyprus "of supporting terrorist activities in a way which forms a threat not only to the 'Turkish Republic of Northern Cyprus', but to the security of Turkey and the region."

    However, the announcement reiterates that "Turkey supports efforts being made by the United Nations secretary general for the attainment of a peaceful solution to the Cyprus issue."

    "Face-to-face talks anticipated in New York constitute a suitable opportunity for the attainment of a permanent solution with the free will of the two leaders of Cyprus," the announcement said, and concluded "that Turkey will continue to support the views contained in the joint communiqui between Turkey and the 'Turkish Republic of Northern Cyprus' which were accepted on Jan. 20, 1997."

    The communiqui to which the Turkish announcement refers anticipates the incorporation of the Turkish-occupied northern part of Cyprus into Turkey if the process for the accession of the Republic of Cyprus into the European Union proceeds.

    Turkey is the only nation in the world to recognize the so-called "Turkish Republic of Northern Cyprus", illegally established in 1983 in the 37 per cent of the island republic controlled by Turkish troops.

    [07] Greek, Cypriot protests over participation of pseudo-state

    Bonn, 02/07/1997 (ANA - P. Stangos)

    The embassies of Greece and Cyprus have addressed protest letters to the radio network "Deutsche Welle", while Cyprus also made representations to the German foreign ministry over the joint housing and tourism promotion of the illegal Turkish Cypriot pseudo-state at Turkey's pavilions in two events.

    The pseudo-state in Turkish-occupied northern Cyprus was featured both in an annual event organized by the German network on June 26 and in activities for "Tolerance Day", organized under German foreign ministry sponsorship on June 29.

    At both events Turkey's official pavilions included among their exhibits pamphlets and posters promoting "Northern Cyprus."

    The Cyprus ambassador to Bonn, Th. Theofilou, addressed a complaint letter the next day, while the charge d'affaires of the Greek embassy, ambassador Dimitris Kontoumas, stressed the "impropriety" of the fact to the radio network's general director.

    The Turkish Cypriot pseudo-state was illegally created in 1983 in the island republic's Turkish-occupied north. It is only recognized by Ankara. Turkey invaded Cyprus in 1974.

    [08] ND leader criticizes Gov't for 'poor management'

    Athens, 02/07/1997 (ANA)

    "We can change and make the Greece we live in today different, rid of the instances of decline and misery that have crippled us all these years," main opposition New Democracy leader Costas Karamanlis told a meeting of ND cadres in Kavala yesterday.

    He added that Greece's "present ill-fate lies in the fact that a specific political party founded its rise to power... on feeding an extensive but extremely low in quality, meritocracy and value party nomenclature".

    The ND leader charged the government with "...squandering funds, benefits, and hundreds of (public sector) hirings unrelated to abilities and skills".

    ND's responsibility in proving itself was "a great responsibility... to serve his fellow men and citizens".

    [09] European court upholds disqualifying of Greek MPs

    Strasbourg, 02/07/1997 (Reuter/ANA)

    The European Court of Human Rights on Tuesday upheld rulings by the Athens Supreme Court annulling the election of five members of the Greek parliament.

    The five were disqualified under Greek law because they had held public positions for more than three months in the three years before being elected.

    The Strasbourg-based court rejected their pleas that the annulment breached the right of voters to freely choose their representatives.

    Costas Geitonas had been deputy head of the prime minister's office, Dimitris Paleothodoros had been head of Greece's second television channel, and Nikos Sifounakis had been head of the Greek Broadcasting Company before the 1990 election.

    Yannis Kavaratzis had been first deputy director of the Social Security Fund and Gerassimos Giakoumatos was its second deputy director before the 1993 election.

    [10] Gov't defends Papandreou against Kokkalis statements

    Athens, 02/07/1997 (ANA)

    The government yesterday commented on statements by president of Greek telecoms company Intracom Socrates Kokkalis regarding Development Minister Vasso Papandreou.

    "The government does not enter into dialogue with individuals who judge the doings of the government," government spokesman Dimitris Reppas said. "The government is judged by the people".

    Mr. Kokkalis on Monday criticized what he called delays in the work of the development ministry and in the placing of contracts.

    Mr. Reppas said the government's work as regards the development ministry so far had been successful and Ms Papandreou has contributed, as have other ministers, to the growth noted today.

    "The last thing the government can be criticized for," he added, "is non-existence, inability and delays." Today's achievements are all the more significant given that a few years ago they were an unattainable dream, he said.

    [11] International team begins ozone research program

    Athens, 02/07/1997 (ANA)

    An international experimental research program on ozone levels in the atmosphere will be carried out in Kalavryta from July 21 to August 10.

    The initiative for the program belongs to professor of atmospheric physics at Athens University, Costas Varotsos.

    Under the program, the World Meteorological Organization and the National Center for Atmospheric Research of the United States have assigned to an Athens University ozone and solar radiation research team the taking of measurements in the area of Kalyvryta.

    International environmental organizations have rated the area in question in the Peloponnese as ideal for conducting atmosphere-related experiments.

    As part of the same program, research teams from the USA, Russia, Romania, the Czech Republic, Egypt and Germany will be coming to Kalavryta with their own experimental equipment.

    The measuring instruments will be installed in a specially laid out area in the Kalavryta ski center, which is currently being prepared by the local government authority.

    Measurements of ozone and solar ultra-violet radiation will be taken daily from dawn to dusk in the clear atmosphere of Kalavryta which also has the advantage of relatively high altitude.

    The research findings will be published in a special volume to be presented at an exhibition organized by the World Meteorological Organization, Athens University.

    [12] Greek, US officials have talks on security issues

    Athens, 02/07/1997 (ANA)

    National Defense Minister Akis Tsohatzopoulos yesterday had talks with visiting US Senator Paul Sarbanes on issues related to Washington's overall policy on peace, security and co-operation in Europe, developments in the Balkan region and Greek-US relation s.

    Also present at the meeting, which comes shortly after talks between Mr. Tsohatzopoulos and Mr. Sarbanes in Washington, was US Ambassador in Athens Thomas Niles.

    Mr. Sarbanes described as "very successful" Mr. Tsohatzopoulos' visit to the US, noting that the minister had presented a clear picture of the situation in the region during his talks with US officials.

    Alternate Foreign Minister George Papandreou later had talks with Mr. Sarbanes, again attended by Mr. Niles.

    The meeting between Mr. Papandreou and Mr. Sarbanes was within the framework of direct talks between Cyprus President Glafcos Clerides and Turkish Cypriot leader Rauf Denktash under UN auspices in New York on July 9.

    Speaking to reporters after the meeting, Mr. Sarbanes said the purpose of his talks with Mr. Papandreou was "for us to try and reduce tension in the region," expressing the hope that the US would contribute in this direction.

    Mr. Papandreou said he had exchanged views "in depth" with the US senator on issues of interest to the two sides.

    Asked by reporters about the ultimate aim of his visit, Mr. Sarbanes said he did not have any special role and would remain in Greece for three months.

    [13] Pangalos meets with Chinese president, premier

    Athens, 02/07/1997 (ANA)

    Foreign Minister Theodoros Pangalos had talks yesterday in Hong Kong with China's President Jiang Zemin and Premier Li Peng.

    In Hong Kong for the British handover of its former colony to China, Mr. Pangalos renewed an invitation from President Kostis Stephanopoulos to Zemin and Li Peng to visit Greece.

    Mr. Pangalos also had talks with his counterpart, Qian Qichen, who assured Mr. Pangalos that "ways would soon be found" for the visits to take place.

    On the sidelines of handover events, Mr. Pangalos also had the opportunity to meet with counterparts from the European Union, ASEAN, the United States and other countries.

    [14] Greece pleased with conduct of Albanian elections

    Athens, 02/07/1997 (ANA)

    The Greek government yesterday expressed satisfaction at the way in which general elections were held in Albania and the fact that all the political forces in the neighboring country had accepted the result.

    "All this indicates that the situation is returning to normal," government spokesman Dimitris Reppas said, describing this as a positive development.

    The further strengthening of relations between the two countries will help protect the rights of the ethnic Greek community in Albania, Mr. Reppas added.

    [15] Greece supports Yugoslavia's integration into int'l community

    Belgrade, 02/07/1997 (ANA - M. Mouratidis)

    Prime Minister Costas Simitis told Yugoslav state-owned television that Greece supported the Federal Republic of Yugoslavia's full integration into the international community.

    "The Balkans should play a leading role in the new European developments," Mr. Simitis said, adding that "there should be no dividing line between north and south Europe, neither between west and east Europe."

    "All European countries must be part of European developments and the Balkans should (also) be part of this process," the premier said.

    Mr. Simitis pointed to the need for a Balkan policy giving all Balkan countries equal opportunities.

    "The Federal Republic of Yugoslavia should become an integral part of this common effort," he said.

    Turning to bilateral relations, Mr. Simitis stressed that relations between Greece and the Federal Republic of Yugoslavia had always been very good, even through difficult times.

    Mr. Simitis said that the international community's change in attitude towards former Yugoslavia creates the opportunity for a strengthening in bilateral relations in the political and economic sectors.

    He said the development of bilateral relations could be facilitated by signed agreements on the protection of investment and the avoidance of double taxation.

    [16] Neolithic pile-dwellings to be reconstructed in Kastoria

    Athens, 02/07/1997 (ANA)

    A life-size scale of a Neolithic lake village on piles will be set up near the northern city of Kastoria in about two years.

    In a ceremony yesterday, University of Thessaloniki archaeology professor Georgios Hourmouziadis presented a model of the reconstructed settlement to the press and Macedonia-Thrace Minister Philippos Petsalnikos.

    Prof. Hourmouziadis said the Neolithic village would be based on excavation findings from Dispilio, and set up 150 meters from this site to allow visitors to see how people lived 6,000 years ago.

    The project will be funded by the European Union's "Life Program", as well as by state and local funds and include several aspects from village life of the Neolithic era.

    [17] Halkidiki first in 'Blue Flags'

    Athens, 02/07/1997 (ANA)

    Halkidiki prefecture in northern Greece has the most beaches in Greece given the "Blue Flag" distinction for the fourth consecutive year.

    The "Blue flags" were awarded to 41 beaches in Halkidiki this year, five more than last year, while a "Blue Flag" was also awarded to the Porto Carras Marina.

    The Dodecanese prefecture came in second with 35 "Blue Flags", followed by Magnisia with 27, Lasithi 26, Corfu 22, the Cyclades and Lesvos with 14 and Pieria prefecture 13.

    The competition is conducted every year by the Environmental Training Foundation of Europe, while in Greece it is sponsored by the Greek Society for the Protection of Nature.

    Awards will be officially made at the end of the fourth Ecological Conference in Halkidiki, which starts on July 4.

    [18] Anthony Quinn received by V. Papandreou

    Athens, 02/07/1997 (ANA)

    Development Minister Vasso Papandreou met yesterday with renowned Hollywood actor Anthony Quinn, who is currently visiting Greece.

    "I want to thank him for all he has done and said about Greece, and I hope he will continue to contribute to our country through his films," Ms Papandreou said.

    She said they did not discuss the issue of his property on Rhodes, under dispute, and said the finance ministry would reply on the issue shortly.

    Mr. Quinn had referred to problems he had with the property and expressed the hope it would be resolved.

    "Despite the fact we come from different countries with different cultures, Ms Papandreou and I both love Greek culture," Mr. Quinn said.

    He added, "I believe in reincarnation and have lived many lives, many of them in Greece, and I shall return to it again. In America, most believe that I'm Greek, and perhaps I do have Greek blood in me."

    [19] Summer sales season begins

    Athens, 02/07/1997 (ANA)

    Summer sales began officially yesterday and will run to August 30.

    Price slashing depends on the sector, ranging for example 30-50 per cent for electronic equipment, 10-20 per cent for linen, with the rest around 25 per cent.

    The consumer service of the development ministry warned buyers to compare prices and qualities before purchasing, while consumer groups added that consumers should not become enthusiastic about large price cuts, since they usually concern a very small n umber of goods available in a specific store.

    Goods bought during sales are not returnable, and if a merchant insists they can be changed, this should be guaranteed in writing.

    [20] Registry for mail order, telephone sales firms

    Athens, 02/07/1997 (ANA)

    The development ministry announced yesterday that it will require compulsory registration for firms active in the sector of telephone or mail order sales.

    According to a ministry decision, all firms that have already concluded such long-distance sales must be registered in a suppliers' register by Aug. 16.

    The register will include a supplier's serial number, name, address, telephone number and fax number as well as a concise description of the goods the firm intends to sell, such as electrical household appliances, furniture, books, etc.

    [21] Bulgarian approval for new border bridge

    Sofia, 02/071997 (BTA/ANA)

    The Bulgarian cabinet yesterday authorized the Regional Development and Public Works Minister to sign the Bulgarian-Greek accord on the construction of a new border-crossing bridge at the Koulata-Promahonas border checkpoint.

    [22] Athens Stock Exchange, FTSE Int'l present new index

    Athens, 02/07/1997 (ANA)

    Greece's bourse will acquire a new index on September 24 devised by FTSE International and the Athens Stock Exchange (ASE), in order to lure more international investors into the market.

    Running parallel to the bourse's existing general share index, the new gauge is based on 20 of the largest and most liquid stocks, officials of the two companies told a news conference.

    "The new FTSE/ASE 20 index is an important step in developing the Athens market," bourse chairman Manolis Xanthakis said.

    FTSE International, which is jointly owned by the Financial Times and the London Stock Exchange, was set up to manage and develop equity and bond indices. Its best-known index is Britain's FTSE 100.

    Due to be calculated and operated by the bourse, the Athens index has been designed to support derivative trading when legislation allowing a secondary market is passed. FTSE International will mirror calculation and act as auditors.

    The share composition of the FTSE/ASE 20 will accurately track the movement of the bourse, the only emerging market in the European Union.

    The index is likely to be used for performance measurement, benchmarking, and as a basis for index tracking funds.

    An independent advisory committee comprising representatives of ASE, the Greek investment community, international fund managers, and FTSE International has agreed the index's design, the ground rules for operation and its initial constituents.

    "It is particularly exciting to be able to work with the Athens Stock Exchange. Throughout Europe a new equity investor culture is growing in every country, while investors seek opportunities further and further afield," FTSE International's managing di rector Mark Makepeace said.

    FTSE International indices have published ground rules and are managed by independent advisory committees in order to ensure independence and transparency.

    [23] Greek economy in non-inflationary growth course, Alpha survey

    Athens, 02/07/1997 (ANA)

    The Greek economy is entering a period of lower inflation and interest rates with relatively strong growth, according to the latest survey on the short-term economic and financial outlook by Alpha Credit Bank. The survey indicates that nominal convergence indicators have started approaching those in the other countries of the European Union, raising the probability that Greece will be amongst the second group of countries entering European Monetary Union (EMU) from January 2001.

    This tends to boost market confidence as well as to strengthen the resolve of economic policy makers in pursuing EMU objectives, it added.

    The bullish sentiment in the Athens Stock Exchange continues for a fifth month in a row, with the market stabilized around 1700, having weathered well the overshooting of the all-times-high of 1684 registered in 1990. Since the beginning of the year, growth mutual funds assets have grown by 90 per cent.

    Foreign investors have returned to the market, which ranked in May among the best performing markets in the world, the survey said.

    [24] Domestic air fares, postage prices rise

    Athens, 02/07/1997 (ANA)

    Postage stamp prices will increase by 13 to 25 per cent, the Hellenic Post Office said in a statement. Among the price rises are telegrams, domestic letters and parcel services.

    Olympic Airways, the national carrier, was expected to announce a six percent rise in domestic air fares later in the day.

    [25] Stock prices move up in light trade

    Athens, 02/07/1997 (ANA)

    Stock prices ended slightly higher on the Athens Stock Exchange led by banks and Hellenic Telecommunications Organization (OTE).

    The general index closed 0.43 per cent higher at 1,525.07 points with most sector indices scoring gains. Trading was light on turnover of 11.9 billion drachmas.

    Banks rose 0.87 percent, Leasing was 0.96 percent up, Investment ended 0.19 percent higher, Holding moved 0.16 percent up, Miscellaneous rose 0.54 percent. Insurance fell 2.01 percent, Industrials were 0.02 percent off and Construction eased 1.07 percent.

    The Parallel Market for smaller cap stocks dropped 1.20 percent.

    OTE's share price continued its recovery to end at 6,500, up 50 drachmas. Broadly, decliners led advancers by 106 to 98 with another 25 issues unchanged. Delta Dairies, Britannia, and Faliro Medical Center scored the biggest percentage gains, while Macedonian Plastics, Demetriades and Macedonian Mills suffered the heaviest losses of the day.

    National Bank of Greece ended at 33,760 drachmas, Ergobank at 16,700 and Alpha Credit at 18,800.

    [26] Stalemate in talks over civil aviation work stoppages

    Athens, 02/07/1997 (ANA)

    Talks between Greek civil aviation workers and the government aimed at averting a series of strikes ended in deadlock although the stoppages are not expected to disrupt flights.

    Workers at the Civil Aviation Authority (OSYPA) disagreed with Transport and Communications Minister Haris Kastanidis over CAA's legal status and demanded immediate payment for overtime work delayed since the start of the year.

    The ministry has said the stoppages will have no impact on flights since air traffic controllers and electronics staff will remain on the job.

    [27] Public Power Corporation procurement policy progress

    Athens, 02/07/1997 (ANA)

    Public Power Corporation (DEH) has signed 100 billion drachmas worth of contracts since January 1 as part of its policy of making long-term contracts with suppliers and bypassing tenders, government spokesman Dimitris Reppas said.

    Mr. Reppas told journalists that DEI was expected to sign a total of 250 billion drachmas worth of contracts by the end of the year.

    [28] Sixth straight win for Greece at EuroBasketball Championship

    Girona, 02/07/1997 (ANA - D. Efstathiou)

    The Greek men's national basketball team won its sixth consecutive match in as many games at the EuroBasketball Championship yesterday, beating Israel 85-82 in a second round match.

    The Greek team was losing 48-44 at half time.

    The Greek team, which came first in Group Five, will play Poland in the quarter finals, which won fourth place in Group Six.

    Poland beat Germany 86-76 in its last match in the second round yesterday.

    Greece's match with Poland will be played in Barcelona at 5 p.m. on Friday.

    End of English language section.


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