Athens News Agency: Daily News Bulletin in English, 97-07-09

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

ATHENS NEWS AGENCY BULLETIN (No 1232), July 9, 1997

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

CONTENTS

[01] Simitis-Demirel meeting leads to joint communiqui

[02] Simitis comments

[03] Gov't spokesman on Simitis-Demirel meeting

[04] State Dept. hails joint communiqui

[05] Holbrooke says EU accession talks facilitate Cyprus solution

[06] Meeting with Denktash

[07] Simitis on NATO enlargement

[08] Simitis has brief talks with Clinton, Demirel

[09] Stephanopoulos' office denies rumors over health

[10] First Commission response to accession applications by July 16

[11] ND deputy unveils plan for Europe's center-right

[12] Fires still burning at several sites

[13] IOC's Samaranch arrives for opening of Int'l Olympic Academy

[14] Aegean Rally begins Friday

[15] Ministers work out how to cut hospital costs

[16] Thessaloniki-Pancevo oil pipeline discussed

[17] 4.2 billion drachmas earmarked for eastern Macedonia, Thrace

[18] Intracom Constructions awarded ISO 9002 certificate

[19] Business delegation's recent contacts in Greece assessed

[20] EU reports zero growth in first quarter 1997

[21] SEBE urges government to drop hard drachma policy

[22] Tourism is tool for cohesion, growth-EU commissioner

[23] Greek stocks end flat in dull trade

[24] EU takes measures to support small-scale coastal fishing

[25] Commercial Bank of Greece to step up bancassurance

[01] Simitis-Demirel meeting leads to joint communiqui

Madrid, 09/07/1997 (ANA - S. Liarelis)

Mr. Simitis said that the communiqui was a document of principles, which will govern relations between the two countries.

The meeting between Mr. Simitis and Mr. Demirel was held at the initiative of the United States and, as Mr. Simitis added, an initiative by Washington took place on Monday night through US Secretary of State Madeleine Albright. Foreign Minister Theodoros Pangalos met his Turkish counterpart Ismail Cem in the morning and a summit meeting was held in the afternoon.

Mr. Simitis explained that the issues which are not expressly referred to or touched on in the communiqui are not settled by this specific text.

"No correlation should be established either with the issue of (Greece's legal right to extend its territorial waters to) the 12 nautical miles or with issues relating to the European Union or the (EU) financial protocol," Mr. Simitis said, adding that the issue of the 12 nautical miles does not constitute a Greek-Turkish issue but a Greek one with an international aspect.

"Greece reserves its right to exercise this right whenever it deems expedient," he added.

The communiqui states:

"His Excellency Suleyman Demirel, President of the Turkish Republic and His Excellency Costas Simitis, Prime Minister of the Hellenic Republic, met on July 8 on the occasion of the NATO summit in Madrid. They noted with satisfaction the convergence of views reached by Foreign Minister Theodoros Pangalos and Foreign Minister Ismail Cem at the meeting hosted by US Secretary of State Albright. Both countries will pursue efforts to promote bilateral relations based upon:

"- A mutual commitment to peace, security and the continuing development of good neighborly relations;

- Respect for each other's sovereignty;

- Respect for the Principles of International Law and International Agreements;

- Respect for each other's legitimate, vital interests and concerns in the Aegean which are of great importance for their security and national sovereignty;

- Commitment to refrain from unilateral acts on the basis of mutual respect and willingness to avoid conflicts arising from misunderstanding; and

- Commitment to settle disputes by peaceful means based on mutual consent and without use of force or threat of force."

[02] Simitis comments

Madrid, 09/07/1997 (ANA)

"Turkey recognizes at a high political level that the use of force or the threat of the use of force have no place in relations between the two countries," he said.

Mr. Simitis added that this means that there was a lifting of casus belli, adding at the same time that withdrawal of the threat of war had been set by Greece as a basic element for every attempt at normalization since, as he said, "this was the main element casting a shadow on relations between the two countries."

Asked whether Greece committed itself not to extend its territorial waters to 12 nautical miles, Mr. Simitis again reiterated that issues not explicitly referred to or which are not raised in the communiqui are not settled by the specific document.

Foreign Minister Theodoros Pangalos said the 12 miles issue was not even referred to in the meetings. However, Mr. Pangalos added that (as he had stated in Parliament in the past) the 12 nautical miles issue cannot constitute a unilateral Greek decision . He said this was so because the implementation of a wider coastal zone (particularly in regions such as Greece) always takes place in contacts with international organizations (such as shipping concerns) and with the major seafaring countries which have shipping concerns in the region.

Mr. Simitis said the joint communiqui constitutes in essence a non-aggression pact. Replying to a question, he said an "experts committee" established in the framework of the European Union will continue its work, examining procedural issues and made the assessment that the principles contained in the joint communiqui will help its work.

Mr. Simitis went on to say that with the joint communiqui basic principles are raised and specific problems are not resolved in Greek-Turkish relations (such as the continental shelf). He said Greece will continue to support the policy of step-by-step rapprochement, adding that with yesterday's "joint registration of principles" there will be a more positive course in Greek-Turkish relations than in the past.

However, he said, there is still ground to be covered, that difficulties are realized and that Greece will continue efforts to be present in developments.

"We took a step, a very persuasive step to show that we can direct developments for a framework of peace in the Balkans," he said.

Mr. Simitis clearly spoke of a "Turkish withdrawal" which he attributed to the "very major change in the climate from the beginning of 1996 to date."

He reminded that the government at that time notified the United States, the EU member-states and the international community, creating the conviction that Greek-Turkish differences are not due to petty conceptions or nationalism, but are due to the non -implementation of international treaties.

Mr. Simitis said this climate also affected Turkey in conjunction with the fact that developments are also in line with the fact that Turkey has agreements with the EU which do not function. Finally, he noted that Greece has a presence throughout the Balkans (Albania, Bulgaria, Bosnia, etc.) to the point that the US also asks for Athens' views on issues in the region.

Mr. Simitis informed President of the Republic Kostis Stephanopoulos by phone of the results of his meeting with President Demirel, immediately after the end of the meeting,

[03] Gov't spokesman on Simitis-Demirel meeting

Madrid, 09/07/1997 (ANA)

The spokesman declined to answer directly when asked if a US initiative was in progress, but hinted that this might be the case.

Stressing repeatedly that it was "too early to draw any conclusions," Mr. Reppas stated categorically that "there has been absolutely no reference in these discussions to the issue of the 12-mile (territorial waters) limit."

Reiterating Greece's positions, including the avoidance of the use of force and respect for international treaties and international law, Mr. Reppas said "within this framework we would have no objection to a meeting.

Mr. Reppas said also that the issue of confidence-building measures (in the Aegean) was also not being raised in the discussions, noting that "CBMs do not mean political proposals for the solution of Greek-Turkish problems."

The spokesman also clarified that specific issues would not be discussed at the top-level Greek-Turkish meetings, effectively dismissing speculation about the possibility of direct Greek-Turkish dialogue.

He said what would be discussed was "the framework on the basis of which the normalization of relations between the two countries can be promoted."

Mr. Reppas underlined also that there had been no proposal for a meeting between Mr. Simitis, Mr. Demirel and US President Bill Clinton.

"I think that such an eventuality can be ruled out at the present time," he said.

[04] State Dept. hails joint communiqui

The US State Department yesterday described a Greek-Turkish joint communiqui on Greek-Turkish relations as a major step forward toward peace between the two countries.

State Department spokesman Nicholas Burns said, however, that the joint communiqui had no direct effect on the continuing disagreements between Athens and Ankara over the future of Cyprus.

"We prefer to keep the issues separate", Mr. Burns said.

[05] Holbrooke says EU accession talks facilitate Cyprus solution

New York, 09/07/1997 (CNA/ANA- M. Georgiadou)

Calling on the Greek and Turkish Cypriot communities to "take advantage of this unique opportunity", Mr. Holbrooke pointed out that Cyprus could be "the Singapore of the eastern Mediterranean".

Speaking after a 90-minute long meeting with President of the Republic Glafcos Clerides, Mr. Holbrooke repeated earlier statements that "I am not here today to negotiate", noting that "this is the UN week".

"The US fully supports Secretary General Kofi Annan's efforts and I look forward to seeing the president next week at the end of the meetings at Troutbeck", he added.

Asked to comment on threats by Turkish Cypriot leader Rauf Denktash to turn the occupied areas of Cyprus into an autonomous part of Turkey , Mr. Holbrooke said "the US is very strongly in favor of an undivided Europe and the US strongly supports Cyprus ' accession talks with the EU".

Invited to say if accession talks could facilitate US efforts to find a solution, Mr. Holbrooke replied: "I think it is a very positive thing, the US strongly supported the addition of Cyprus to the list of the countries that would be considered first and the economy of Cyprus demonstrates clearly that Cyprus is ready for membership".

"I think Cyprus has a unique economic opportunity to be the Singapore of the eastern Mediterranean and when I say Cyprus, I mean both communities and I hope people of both communities take advantage of this unique opportunity", he told the press.

Asked by CNA to identify what the US would consider progress in this first round of talks, Mr. Holbrooke said he was not prepared to "comment on those things" and added, "ask President Clerides anything to do with UN talks in his business, I will not b e there".

Replying to other questions, the American envoy said he would discuss with President Clerides his plans for precise dates for a trip to Cyprus at their meeting next week.

He also refrained from commenting on Mr. Denktash's warning that the US would fail in its efforts for a settlement in Cyprus unless it recognizes the pseudostate in occupied Cyprus.

"I did not see the interview", Mr. Holbrooke said when invited to comment on Mr. Denktash's statement to this effect in a recent interview.

On his part, President Clerides said he did not think it was "very useful" to reply to questions and added "we are going to negotiate, we are going to talk in order to find a solution and I think any statements made before we sit around the table are no t helpful".

Later yesterday, the president was also due to meet Russia's envoy to the talks, Vladimir Tchizhov.

[06] Meeting with Denktash

New York, 09/07/1997 (CNA/ANA)

Speaking to the press after his meeting with Mr. Denktash, the US official said he had a private conversation with the Turkish Cypriot leader and added: "I am not here as a negotiator. This is just a 'get re-acquainted' session, and I look forward to the outcome of the talks".

He also said the US is supporting the UN process.

Asked if he had any advise for the two sides on how to proceed in the talks, Mr. Holbrooke said the talks are confidential and refrained from giving any further details.

Invited to say if he submitted any ideas on the talks' agenda, Mr. Holbrooke said "no, this is a UN meeting. I am just here to get updated on the situation".

Commenting on press remarks that the US is keeping a low profile in these talks, the US emissary noted that "these (talks) are Kofi Annan's event and we are supporting him and his special representative Diego Cordovez".

He also said he will again meet Mr. Denktash next week.

In his remarks to the press, Mr. Denktash described his meeting with Mr. Holbrooke as a "very sincere exchange of views" and he said he looked "very much forward" to meeting him again after the negotiations conclude.

[07] Simitis on NATO enlargement

Madrid, 09/07/1997 (ANA)

Prime Minister Costas Simitis backed Romania, Slovenia and Bulgaria for membership in the alliance, saying that the Balkan countries should have equal treatment with the central and eastern European countries.

"In our view, the enlargement process should eventually embrace all European countries, interested in joining the alliance and fulfilling a number of criteria. The stability of our continent is greatly dependent upon NATO's enlargement. It should be clear that stability remains indivisible for the whole of Europe," Mr. Simitis said.

"On this ground, we are of the opinion that along with Poland, Hungary and the Czech Republic, Bulgaria and Romania should also be included in the first wave of enlargement, while the case of Slovenia should be favorably considered too," he added.

"Let me stress that fostering stability in Europe involves, amongst other things, the integration of the Balkan region into the European structures, including those of NATO. Consequently, the door of the alliance should remain open to those countries which will be initially left out. This should be made plainly clear in our decision and declaration," he said.

Mr. Simitis said that what was pointed out is that NATO must change form, since it had been established with a direction against the former USSR and the eastern bloc in general, which constituted the rival awe. Now, he added, this rival awe no longer exists and consequently NATO's new mission must be set out and a new conception must be inaugurated on its strategy.

Referring to enlargement, Mr. Simitis said it will start with the three countries (Poland, Hungary and the Czech Republic) and that Greece stressed that NATO must respond to the request of the Balkan countries, since the Balkans constitute a possible flashpoint.

"These views did not prevail but specific reference is made that the issue will be settled in the future," he said.

On the question of new headquarters and NATO's military structure, Mr. Simitis said no agreement was reached, adding that Greece aligns itself with all that has been agreed so far.

Mr. Simitis said Greece hailed the initiative for Mediterranean co-operation, stressing that in this course Greece will only stand to gain from its active participation, devoting its forces towards strengthening its presence in its international environment.

[08] Simitis has brief talks with Clinton, Demirel

Madrid, 09/07/1997 (ANA-S.Liarelis)

The sources said that President Clinton called for a solution to problems regarding the establishment of new NATO headquarters in southeastern Mediterranean, but did not elaborate.

NATO members, except Turkey, agreed to the establishment of two European headquarters, one in the north and the other in the south with four sub-headquarters in Spain, Italy, Greece and Turkey.

Turkey claims that the number of NATO's Mediterranean sub-headquarters should be reduced, while suggesting that Greece and Turkey share one of these.

The issue of new NATO headquarters will be discussed after the Madrid Summit and at the next alliance summit in December.

Meanwhile, Greek Foreign Minister Theodoros Pangalos and his Turkish Counterpart Ismael Cem had a chance meeting yesterday morning.

Sources said the two ministers held a "friendly discussion" on the fringes of the summit.

[09] Stephanopoulos' office denies rumors over health

Athens, 09/07/1997 (ANA)

"The press reports concerning the president's health lack any seriousness. The president of the republic does not have the slightest health problem," the announcement said.

It also called for a halt to "such reports which, being untrue, serve no purpose".

[10] First Commission response to accession applications by July 16

Brussels, 09/07/1997 (ANA - M. Spinthourakis)

The European Commission's opinion will be relayed over the Internet next Wednesday, at the same time that Commission President Jacques Santer will begin his speech at the European Parliament on the Union's expansion.

The European Commission will also include its positions on procedures to be followed during admission negotiations with Cyprus, as well as its assessment of the state of Union's relations with Turkey, contained in a report entitled 'Agenda 2000'.

With regard to Cyprus' application to join the EU - the only country having received a positive opinion and a commitment that accession negotiations will start within 1998 - 'Agenda 2000' will make special mention, essentially reaffirming earlier decisions.

What is not known is to what degree the report will refer to the participation of Turkish Cypriots in such talks.

On the same day, the Commission will present two texts on Turkey, namely, a political one to be included in the 'Agenda 2000', and an economic one expanding on the strengthening of the Union's economic ties with Turkey.

[11] ND deputy unveils plan for Europe's center-right

Athens, 09/07/1997 (ANA)

Ms Koutsikou, who is the head of the international relations and European affairs secretariat at ND, said the plan provided the answer to European Socialist parties.

European Union socialist finance ministers and other European Socialist officials announced plans last month of an Economic Coordination Pact, designed to coordinate efforts related to EU economic policy and to counterbalance the Bonn-inspired Stability and Development Pact.

Ms Koutsikou, who was responsible for the preparation of the plan, said it would be subject to debate by Europe's conservative parties seeking a common policy on the issues of growth and employment.

She said a final proposal will be submitted for approval to the leaders of the European Democratic Union parties and the European People's Party.

The plan urges European politicians to proceed with "radical changes and adjustments," while calling for tax-reductions, greater flexibility, social security systems which would be less depended on state funding and yielding more benefits, less state intervention and bureaucracy, privatization of state-owned companies, dissolution of monopolies and better incentives for the unemployed.

There are 20 million unemployed currently in Europe.

European conservatives have repeatedly said that they regarded unemployment as "an unbearable burden and a social evil."

[12] Fires still burning at several sites

Athens, 09/07/1997 (ANA)

They added that eight Canadair and four Grumman firefighting planes, army contingents, firefighters as well as dozens of forestry service and fire brigade vehicles were deployed at the various fronts.

Officials told ANA that the massive fire in Seikh Sou urban forest in Thessaloniki, which broke out at 4:20 p.m. on Sunday, had been contained after burning an estimated 1,700 hectares of forest land.

On his part, Agriculture Minister Stephanos Tzoumakas - whose ministry is responsible for forests and fire prevention - said that after the fire was completely extinguished, aerial photographs would be taken of the area, while soil retention works and extensive reforestation would also be carried out. In Evia, the fire was subsiding although it had not been contained.

In Ilia prefecture, a fire was still blazing near ancient Olympia, where land forces assisted by civilians, two Canadairs and two private aircraft were battling to contain the flames.

In Arcadia, the fire had been contained without requiring the assistance of firefighting planes.

On the island of Ios, the fire in the Mylopotas region was still out of control and was being battled by land operations and two Canadair fire-fighting planes.

Another fire destroyed a school, two homes and farmland near Achaldohori, Messinia early yesterday, before it was brought under control.

Meanwhile, the forest fire that broke out near Derveni on Monday is still burning out of control, despite efforts by fire-fighters.

ANA reports from Ioannina said forest fires in the prefecture had been partially contained, but high winds posed a potential threat of rekindling.

More specifically, the fire in Amaranto, Konitsa, had burned 500 hectares of pine and fir trees.

The fire in Negrades had burned 700 hectares of forest and pasture land, while in Distrato the blaze had destroyed 400 hectares of pine forest.

Firefighting crews and local residents were continuing their efforts to put out the flames at all three sites.

The task was particularly difficult in Amarantos, as the fire had spread to areas that were difficult to access.

[13] IOC's Samaranch arrives for opening of Int'l Olympic Academy

Athens, 09/07/1997 (ANA)

Mr. Samaranch is in Greece along with other members of the IOC for the opening ceremony of sessions at the International Olympic Academy in ancient Olympia.

The tree-planting ceremony took place in the Goudi district of Athens, where other IOC members also planted olive trees that will provide the crowning wreaths for winners in the event Athens wins the bid to host the Olympic Games of 2004.

The IOC president was accompanied by Athens 2004 candidate committee president Yianna Angelopoulou-Daskalaki, Hellenic Olympic Committee President Lambis Nikolaou, Sports Under-secretary Andreas Fouras, and others.

Mr. Samaranch expressed his best wishes to Mr. Fouras for the IAAF Championship taking place in Athens between August 1-10 and congratulated Ms Angelopoulou-Daskalaki for the Athens committee's work.

He avoided any direct mention on Athens' bid, saying that all five contenders for the 2004 Games begin from the same starting line.

[14] Aegean Rally begins Friday

Athens, 09/07/1997 (ANA)

The first leg of the race will be from Phaleron to Milos, then from Milos to Leros, while the third and last leg will be Leros to Rhodes, where yachts will cross the finish line on July 19.

Cultural and other events will be held on all the islands along the route, while on July 21 all the yachts which participated in the rally will sail to Kastellorizo with an Hellenic Navy escort.

"The Aegean Rally, apart from being a sporting event, also serves national purposes, which is why it has the support of the Hellenic Navy and state agencies," the president of the Panhellenic Open Sea Yacht Club, Yiannis Maragoudakis told a press conference yesterday.

Mr. Maragoudakis said the rally comprised three main legs and four special local legs, two off Milos and two off Rhodes, covering a total distance of approximately 300 miles.

Mr. Kaklamanakis stressed the particular importance of this year's rally, which is dedicated to the 50th anniversary of the incorporation of the Dodecanese in the Greek state.

[15] Ministers work out how to cut hospital costs

Athens, 09/07/1997 (ANA)

National Economy Minister Yiannos Papantoniou, Health Minister Costas Geitonas and the undersecretaries of health, Nikos Farmakis, social security, Manolis Skoulakis and finance, Nikos Christodoulakis.

After the meeting, Mr. Geitonas told reporters that no decisions had been taken. While replying to questions, he said there was no question of an increase in hospital charges at the present.

According to informed sources, relevant decisions are expected to be taken in two months.

[16] Thessaloniki-Pancevo oil pipeline discussed

Belgrade, 09/07/1997 (ANA - M. Mouratidis)

Studies for the project are still underway by the Serbian Oil Industry (NIS).

According to the plan, the oil pipeline will start from Thessaloniki, stretch east of Gevgeli, near Lake Doirani and reach Veles and Skopje, while in Serbia the pipeline will follow the line Nis-Jagodina-Smederevo-Belgrade-Pancevo.

The proposed oil pipeline would have a length of 719km and, according to estimates by NIS technicians, total costs will reach US$860 million for construction.

The Thessaloniki-Skopje-Pancevo oil pipeline will have a capacity of 10 million tons of crude a year, while about five years are required for completion.

[17] 4.2 billion drachmas earmarked for eastern Macedonia, Thrace

Athens, 09/07/1997 (ANA)

The amount concerns the payment of subsidies for new investments both in Thrace and in eastern Macedonia, according to an announcement by National Economy Secretary General Apostolos Fotiadis. The total amount for this specific funding amounts to 8.8 billion drachmas .

In other decisions, the ministry has earmarked the transfer of 3.5 billion drachmas to the Hellenic Organization of Small- and Medium-Sized Enterprises and Craftsmen, EOMMEX, and the Agricultural Bank of Greece for the same purpose.

[18] Intracom Constructions awarded ISO 9002 certificate

Athens, 09/07/1997 (ANA)

Among others, Intracom Constructions has carried out in the energy sector infrastructure works at lignite facilities in Ptolemaida, Amyntaio and Megalopoli as well as projects to install mechanical and electrical equipment at the Agios Dimitrios power station in Kozani prefecture.

In the telecommunications sector, the firm is credited with telecoms projects in Attica, the Hellenic Telecommunications Organizations (OTE) cardphone network, mobile telephony installations and a telecommunications center in Piraeus, among others.

[19] Business delegation's recent contacts in Greece assessed

Sofia, 09/07/1997 (ANA/BTA)

The chamber chairman said that Greece was an important partner for Bulgaria. He stressed that 13 bilateral agreements signed between the two Balkan countries provided a sound and 'healthy' basis for a development of economic relations.

During meetings and talks in Greece, the Bulgarian delegation touched on a number of problems, including the low traffic flow capacity of the border checkpoints and the restrictive visa regulations for Bulgarian nationals.

Mr. Bozhinov said that currently all commodities traded between Greece and Bulgaria have to pass along a narrow one-way bridge at the Kulata-Promahonas customs post. He also specified that as of 1992, his country has recorded a trade surplus with Greece and commercial exchange had reached a peak in 1995, amounting to US $621 million. In the first quarter of 1997 it totaled US $136 million.

There are 800 Greek businesses operating in Bulgaria but only a few Bulgarian firms registered in Greece, he added.

During their visit to Greece, which would up last Friday, the Bulgarian delegation met representatives of the Chamber of Small and Medium-Sized Businesses, who showed interest in the Kremikovtsi metallurgical plant and the non-ferrous metals works in Plovdiv.

The Bulgarian businessmen were invited to attend a business forum in Greece in September, and according to Mr. Bozhinov, they will be headed by Trade Minister Valentin Vassilev.

[20] EU reports zero growth in first quarter 1997

Brussels, 09/07/1997 (ANA/G. Daratos)

According to figures released by the EU's statistics agency Eurostat, the average gross domestic product of the 15-member bloc showed zero growth in the period from January to March compared with the last quarter of 1996, to show a 1.3 percent increase on the corresponding period last year.

Eurostat said this was a result of stagnant private consumption and a 0.1 percent drop in gross capital formation.

The United States and Japan, however, showed quarterly growth of 1.4 and 1.6 percent respectively in the first quarter 1997.

[21] SEBE urges government to drop hard drachma policy

Athens, 09/07/1997 (ANA)

A SEBE survey on the impact of monetary policy on exports and inflation said a devaluation of the drachma would aid exports in the short-term.

"A real devaluation of the drachma will lead to a short-term increase in exports for a period of nine months," the survey said.

The survey argued that the hard drachma policy's ability to combat inflation was fading.

The government, which has relaxed its monetary policy and allowed a speedier slide of the drachma over the last five months, had acknowledged the trend, it said.

Greek exports were dependent both on imports and real currency parities. They also appeared to be particularly fragile to changes in the international economic climate.

SEBE president Apostolos Gennitsaris noted that the impact of the hard drachma policy was particularly severe in 1993 when exports to European Union countries fell sharply to 270 billion drachmas.

Hard hit Greek exporters had to turn to other markets in central and eastern Europe, South America and the Middle East.

SEBE reported progress in a project to sell fresh and processed farm produce to six east European states - Hungary, the Czech Republic, Slovakia, Romania, Moldova and Ukraine.

The two-year program is partly funded by the European Union and started at the end of 1995.

[22] Tourism is tool for cohesion, growth-EU commissioner

Brussels, 09/07/1997 (ANA/G.Daratos)

"Sustainability indeed continues to be the major challenge for the European tourism industry. That is, sustainability in environmental and economic terms," Mr. Papoutsis said.

He added that "I am a firm believer in consistent and coherent policies and measures to assist tourism at European level.

A European tourism industry that is the guardian, as well as the promoter, of culture secures its own future.

Thus, the development of cultural tourism contributes to the strengthening of the tourism activity all year round, and may lead to fewer environmental problems."

[23] Greek stocks end flat in dull trade

Athens, 09/07/1997 (ANA)

The general index closed 0.03 percent higher at 1,548.18 points.

Trading was moderate with 12.1 billion drachmas changing hands. Most sector indices scored gains. Banks rose 0.04 percent, Leasing was 0.03 percent off, Insurance dropped 1.21 percent, Investment increased 0.85 percent, Industrials ended 0.42 percent higher, Construction fell 0.86 percent, Holding rose 0.44 percent and Miscellaneous was 0.35 percent up.

The small cap index eased by 0.34 percent.

Broadly, decliners led advancers by 132 to 80 with another 19 issues unchanged.

Bank of Central Greece, Ergodata, Viohalco and Mouriadis scored the biggest percentage gains, while Remek, Etma, Allatini and Lambropoulos suffered the heaviest losses of the day.

National Bank of Greece ended at 34,490 drachmas, Ergobank at 17,030, Alpha Credit Bank at 18,795, Titan Cement at 15,100, Intracom at 12,490 and Hellenic Telecommunications Organization at 6,470.

[24] EU takes measures to support small-scale coastal fishing

Brussels, 09/07/1997 (ANA/G. Daratos)

The aim is two-fold: to encourage projects to assist the fishermen (improving occupational training, developing representation structures, exchanges of experience) and projects to assist women family members, who very often constitute an integral part o f the business side of this type of fishing (setting up of undertakings and cooperatives, organizations, training in accounting, marketing, management, exchanges of experience).

The standard of living of families deriving their income from this occupation does not as a rule reflect the significance or day-to-day difficulties of the activity. Small-scale coastal fishing also qualifies for specific treatment under the fleet restructuring programs (MAGP IV).

The beneficiaries of assistance (up to ECU 200 000 for each project) may include individual undertakings or groups of them, trade organizations, social economy organizations, local and regional authorities, local development agencies, chambers of commerce and training establishments.

[25] Commercial Bank of Greece to step up bancassurance

Athens, 09/07/1997 (ANA)

State Commercial Bank, which provides insurance services through its subsidiaries Phoenix Insurance and Metrolife-Commercial, has empowered the two firms to start selling banking products, housing loans, credit cards and consumer loans.

In turn, the bank intends to sell insurance, including two new products that combine deposits, investment and insurance cover of 5-10 million drachmas.

One is a pension scheme and the other a savings scheme to cater for children's future needs, both with monthly deposits ranging from 10,000-60,000 drachmas.

End of English language section.

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