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Athens News Agency: Daily News Bulletin in English, 98-12-18

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

From: The Athens News Agency at <http://www.ana.gr/>

CONTENTS

  • [01] Gov't expresses hope for quick end to strikes against Iraq
  • [02] Iraq strikes cancel Mordechai visit
  • [03] Medical equipment in Albania
  • [04] Debate on 1999 budget begins in Parliament
  • [05] Tsohatzopoylos calls for observance of UN decisions regarding Iraq
  • [06] Gov't: Athens', Nicosia's defence needs independent of Turkish desires
  • [07] Bomb attacks at homes of 2 ethnic Greek leaders in S. Albania
  • [08] Eurobank executive comments on Post Bank's development in Bulgaria
  • [09] Gov't readies presidential decree regulating all aspects of artificial insemination
  • [10] Emphasis falls on seatbelt use to stem tidal wave of traffic deaths
  • [11] Gov't says it will ban 'violent' toys, games
  • [12] Oil prices seen steady despite Iraq crisis, industry official says
  • [13] Xenia Hotel tender draws bids from three Cretan hoteliers
  • [14] Central bank, capital markets commission sign agreement
  • [15] State telecom still keen on Bulgarian buyout, Sofia says
  • [16] Banks appoint intermediary for customer disputes
  • [17] Finance ministry to hold 3M T-bill auction Tuesday
  • [18] Stocks end slightly down, shrug off air strikes against Iraq
  • [19] Tourism agency has overhaul legislation ready
  • [20] Hellenic Petroleum reports 151 pct profit jump in Jan-Oct
  • [21] Computerised tax network to be completed end-1999, gov't says
  • [22] Medium-sized light industries seen waning - survey
  • [23] Two more banks cut rates
  • [24] 'Mini insurance bill' ratified in Parliament
  • [25] Farm produce prices decrease in EU for '98
  • [26] Athens Foreign Exchange

  • [01] Gov't expresses hope for quick end to strikes against Iraq

    Athens 18/12/1998 (ANA)

    Athens' reaction to the US and British strikes against Iraq was a cautiously worded statement yesterday from the foreign ministry, underlining that non-implementa-tion of UN resolutions and obstacles to their implementation by Iraq "were worthy of condemn ation".

    At the same time, the statement continued: "the people of Iraq are not responsible for the actions of their rulers."

    "The Greek government...expresses its hope that the operations will be of short duration and soon end...The trials the Iraqi people, who have suffered for some time, must be ended through cooperation between the Iraqi government and the international community."

    Earlier yesterday, Deputy Foreign Minister Yiannos Kranidiotis chai-red a meeting at the foreign ministry on the developments in the Gulf.

    The meeting was followed by another at the prime minister's office, chaired by PM Costas Simitis and attended by Alternate Foreign Minister George Papandreou and Mr. Kranidiotis.

    Sources said the government had been informed of the possibility of a strike by the US against Iraq during Wednesday's meeting between Mr. Kranidiotis, US ambassador to Athens Nicholas Burns and US State Department coordinator for Cyprus Thomas Miller.

    The sources said US officials had informed the foreign ministry of the content of the report and the concerns of UN chief arms inspector Richard Butler, underlining that "military action could no longer be ruled out."

    Foreign Minister Theodoros Pangalos returned to Athens yesterday from a visit to Kuwait.

    Mr. Kranidiotis spoke with Mr. Burns yesterday as well as with the British ambassador in Athens Sir Michael Llewellyn-Smith.

    Gov't spokesman : Government spokesman Dimitris Reppas later expressed Athens' concern over the Iraqi developments and said that the international community had to deal effectively with the problem.

    "There is a real problem with the production and possession of chemical weapons in Iraq that must be dealt with," Mr. Reppas said.

    He also said this was the reason for the US and British strike although he intimated that domestic American politics and the low price of oil may have had an effect on the decision to take action.

    Responding to questions, he said that the military action had been taken on the basis of UN decisions regarding the containment of production and "use of weapons of mass destruction."

    He expressed the government's regret for the victims of the air strikes and at the damage caused, adding that there had been no request for assistance from the Souda air base on Crete.

    Mr. Papandreou expressed the need for initiatives by the international community for the peaceful solution of the problems with Iraq.

    He said in a statement that an end of the hostilities will allow the United Nations and the international community to look at the "real humanitarian problems confronted by the Iraqi people."

    He also called on the European Union to confront soberly the whole issue within the framework of the joint foreign policy and security policy.

    Greek military on alert : The Greek armed forces are closely monitoring the situation in Iraq following air strikes launched late Wednesday night by the US and Britain against military and security targets in Iraq.

    Sources close to the National Defence General Staff said the Greek armed forces "having been closely monitoring, from the very first moment, the situation in Iraq following the British and US strike on Iraqi targets."

    The sources said the military operations centre had been put on alert since Wednesday afternoon following the evacuation of UN inspectors from Iraq.

    The same sources said that Greece had no involvement in the events, adding that the 11 Greek UN observers, currently at the Iraqi border with Kuwait and in northern Iraq, "are facing no problems".

    They said that there was a problem with the flow of information regarding the situation in Iraq due to "the silence being maintained by the mechanisms in that country and also by the mass media in Baghdad".

    Reaction : Three members of Parliament yesterday called on the House to condemn the US and British strike on Iraq.

    The letter, to Parliament President Apostolos Kaklamanis, was signed by ruling PASOK MPs Paraskevas Paraskevopoulos and Georgios Katsimbardas and Coalition of the Left (Synaspismos) MP Spyros Danellis.

    "The bombings by US and British forces of Iraq are a blatant infringement of international law, international legality and human rights," the MPs' letter stated.

    "Once again the victims of these attacks will be the embattled Iraqi people, civilians and children."

    According to reports, a group of ruling party MPs have begun collecting signatures for a petition to be sent to UN Secretary General Kofi Annan.

    The petition also condemns the US and British raids, calling them an infringement of international law and "a unilateral initiative taken outside of the framework of the UN".

    It calls on the UN chief to work towards a resolution of the problem through political means "the only path for the resolution of international crises".

    "Blind violence, regardless of pretext, can not at the end of the 20th century be celebrated and be considered a form of international policy," the petition says.

    Later reports said 78 MPs so far had signed the petition to be sent to the UN secretary general.

    Among the signees were 56 ruling party MPs, seven from Synaspismos, six each from the Communist Party of Greece (KKE) and Democratic Social Movement and two from main opposition New Democracy.

    A number of ND MPs interviewed on television and radio also came out against the strikes, saying that diplomatic avenues to resolve the conflict had not yet been exhausted.

    Political parties : The attack on Iraq was condemned by three leftist opposition parties, the Communist Party of Greece (KKE), Synaspismos and DHKKI, while main opposition New Democracy called for the strikes not to be repeated and for all peaceful means to be exhausted in f inding a resolution to the dispute.

    ND said Saddam Hussein's refusal to cooperate with the UN should be condemned but stressed that it was the first time in the U.S. that there had been no consensus from the Congress on the attacks.

    It also criticised the government for failing to call a meeting of the European Union General Affairs Council to discuss the problem of Iraq.

    KKE condemned the attacks, while it called the governments of the European Union co-responsible, saying they are "silent in front of this crime."

    KKE expressed its concern because "the already weakened UN Security Council is pushed aside".

    Synaspismos called the raids an "adventurist act" and said the latest developments served to undermine the peace process in the Middle East.

    DHKKI called the strikes "sha-meful" for humanity and international organisations and called on the government to take initiatives at the EU to condemn Britain's role in the strikes.

    Political Spring (Pol.An) said that the attacks are "incursions which aim to ensure the necessary tranquility and stability without the loss of innocent civilians."

    Athens News Agency

    [02] Iraq strikes cancel Mordechai visit

    Athens 18/12/1998 (ANA)

    Israeli Defence Minister Yitzhak Mordechai has cancelled a visit to Athens, scheduled to begin today.

    Sources said recent developments in Iraq were the reason for the cancellation.

    Athens News Agency

    [03] Medical equipment in Albania

    TIRANA 18/12/1998 (ANA)

    Greece yesterday delivered some $50,000 worth of medical equipment and supplies to a hospital here.

    The package is part of a $200,000 package of aid for the Kosovo refugees that Foreign Minister Theodoros Pangalos announced during his visit to Albania last July.

    The aid was delivered to the Tirana University Hospital Centre.

    Athens News Agency

    [04] Debate on 1999 budget begins in Parliament

    Athens 18/12/1998 (ANA)

    Parliamentary debate on the 1999 state budget began last night and will be concluded with a vote at around midnight on Monday.

    The main speaker for ruling PASOK, Minas Stavrakakis, said that "the 1999 budget has a historical significance for the future of this country and is a budget which vindicates great options rewarding government consistency which is achieving convergence since it is strengthening the economy, as well as the country's political position."

    Main opposition New Democracy main speaker Georgios Voulgarakis said "the results of the Greek economy are disappointing", adding that instability in macroeconomic indicators, with disproportionately high inflation and the equally high deficits, was combined with a slowdown in the rate of economic growth.

    Speaking on behalf of the Communist Party of Greece (KKE), Nikos Gatzis said that the budget was "profoundly class-related and is oriented directly against working people, pensioners, small and medium-sized businesses and farmers."

    Yiannis Dragasakis of the Coalition of the Left and Progress (Synaspismos) criticised what he called the "anachronistic framework of preparing and discussing the budget", claiming that in this way the lack of transparency and inconsistency in its implem entation is being expanded.

    Tassos Intzes from the Democratic Social Movement (DHKKI) said that the 1999 budget has the exclusive target of achieving the Greek economy's economic convergence with those of the European Union countries, adding that this is to the detriment of the we aker classes which are being called on once again to make sacrifices without any results.

    An Athens court will decide whether announced Civil Aviation Federation Employees' Unions (OSYPA) work-stoppages will be conducted.

    OSYPA announced on Wednesday work-stoppages for Dec. 21 through Dec. 23 from 6 a.m. to 2 p.m. each day, while the trolley-bus employees have announced a four-hour walkout from 12 noon on Dec. 18 and from 9 a.m. on Dec. 19 to protest the new law for rest ructuring public transport.

    Athens News Agency

    [05] Tsohatzopoylos calls for observance of UN decisions regarding Iraq

    BRUSSELS 18/12/1998 (ANA - M. Spinthourakis)

    National Defence Minister Akis Tsohatzopoulos yesterday expressed Athens' regret for the use of violence against Iraq and what he called the "unavoidable victims" which it implies. He also said he hoped the bombing woul d be over soon.

    Mr. Tsohatzopoulos, who is attending the NATO defence ministers' conference, also stressed that UN decisions should be respected so that undesirable developments, such as the bombing of Baghdad, were avoided.

    He reported that the ministers did not discuss the issue at length, as the first news of the missile attack came at about the end of the first session on Wednesday night, and that the final communique would not contain any special reference to Iraq as the issue of bombardment was not of direct concern to the alliance.

    Referring to other developments at the conference yesterday, he said ministers had approved the new structure of the military command of the alliance, which included the regional headquarters at Larissa, central Greece. A number of projects in Greece and Turkey, long blocked, were also approved, he said.

    Regarding Kosovo, Mr. Tsohatzopoulos said the situation presented difficulties and that substantial negotiations for its solution had not begun. He attributed clear responsibility to Albanian separatists, who with their stand, he said, sought independe nce in violation of the agreements.

    He further referred to the particular significance of discussions on the European defence and security identity taking place in the framework of both NATO and the Western European Union.

    Athens News Agency

    [06] Gov't: Athens', Nicosia's defence needs independent of Turkish desires

    Athens 18/12/1998 (ANA)

    Greece's and Cyprus' defence policies are not defined on the basis of the desires of the Turkish state, government spokesman Dimitris Reppas said yesterday, calling "unacceptable" statements by Turkish officials that the Russian S-300 missile system could not be deployed on Cyprus or Crete.

    These statements, Mr. Reppas said, constituted a "travesty" of the principles and rules of international law and at the same time illustrate the impasses of Turkish foreign policy.

    "Turkey produces more problems than it can solve," Mr. Reppas said. "Turkey must meet the decisions of the United Nations and contribute to a resolution of the Cyprus issue with political means."

    Responding to a pointed question on whether Greece would request Washington's intervention with Turkey, another country which does not abide by UN resolutions, in this case on Cyprus, Mr. Reppas said:

    "Greece requires the implementation of the decisions of the United Nations, nothing more or less."

    Athens News Agency

    [07] Bomb attacks at homes of 2 ethnic Greek leaders in S. Albania

    GJIROKASTER 18/12/1998 (ANA - B. Barkas)

    Two explosions rocked the homes of leading members of the ethnic Greek organisation "Omonoia" in Sarande at about 1 a.m. yesterday. The first explosion was reported outside the home of the organisation's president, Georgios

    Lambovitiadis, and the second at the home of the organisation's secretary general, Vangelis Papachristou, only two days before "Omonoia's" fourth general conference is due to start. Local authorities announced that serious material damage was caused but gave no further details.

    Athens News Agency

    [08] Eurobank executive comments on Post Bank's development in Bulgaria

    SOFIA 18/12/1998 (ANA - B. Borisov)

    Eurobank President Georgios Gontikas said yesterday that the bank aimed to turn Bulgaria's Post Bank, of which it recently acquired 78 per cent along with the ALICO insurance firm, into a distinguished concern among Bulgaria's banking system.

    "Our first aim is to help the bank develop into a distinguished part of the Bulgarian banking system. Beyong that, we are interested in any investments, in all sectors, and that if any opportunities arise, we will discuss them very willingly," he said on the sidelines of an investment conference organised in the framework of the presentation of Post Bank's new board, late Wednesday night.

    Sofia bourse president Georgi Prohatski told the conference that political and economic stability, with inflation expected to close at two per cent this year and GDP projected to increase at rates of 4-5 per cent in the next three years, will be the mai n advantages Bulgaria had to offer foreign investors.

    Officials told the conference that according to data as of Aug. 31, 1998, Greece ranked fifth with $88.6 million in foreign private investment in Bulgaria. Germany was first with $281 million.

    Athens News Agency

    [09] Gov't readies presidential decree regulating all aspects of artificial insemination

    Athens 18/12/1998 (ANA)

    Deputy Health Minister Theodoros Kotsonis yesterday told Parliament that a presidential decree would be issued to cover all ethical, moral, scientific and religious aspects of artificial insemination in Greece.

    Mr. Kotsonis, who was replying to a relevant question by deputy Dimitris Piperias and prompted by a 62-year-old Athens woman who gave birth to a healthy infant earlier this month, wondered: "when in the history of man did political or religious powers ever stand in the way of science?". ..

    Athens News Agency

    [10] Emphasis falls on seatbelt use to stem tidal wave of traffic deaths

    Athens 18/12/1998 (ANA)

    An information campaign on using seatbelts has led to a 50 per cent increase in their use, campaign organisers told a press conference yesterday.

    Announcing the results of a nationwide survey by the Centre for Research and Prevention of Child Accidents (KEPPA), experts said a nine-month campaign had to continue as the rate of usage was still low compared to other European countries.

    Greece has one of the worst road death records in Europe. Some 1,500 people are estimated to have died over the past five years in Greece as a result of not using seatbelts.

    The latest available figures show Greece has 20.5 road deaths per 100,000 inhabitants. By comparison, figures for Finland, the Netherlands, Sweden and Britain range between 6.8 and 8.6 deaths per 100,000 inhabitants.

    The campaign involved a series of activities by 50 state and non-governmental agencies under the motto "allies in life".

    According to the survey, 32 per cent of male drivers were using a seatbelt after the campaign, compared to 21 per cent previously, with the percentage of female drivers rising to 37 per cent from 25. More likely to use seatbelts were those drivers on national roads and aged over 25.

    Athens News Agency

    [11] Gov't says it will ban 'violent' toys, games

    Athens 18/12/1998 (ANA)

    Deputy Development Minister Mihalis Chrysohoidis told Parliament yesterday that the ministry was preparing legislation to ban "violent games and toys" from being sold on the Greek market.

    Mr. Chrysohoidis said judicial officials had already begun working on having one electronic toy withdrawn from the market, following complaints from two deputies.

    The toy, "Carmageddon II", awards players with points for killing pedestrians. PASOK MP Eleni Anoussaki first brought the issue to the Parliament when she raised questions over "Carmageddon I".

    Athens News Agency Athens 18/12/1998 (ANA)

    The 53rd general assembly of the Vienna Foreign Correspondents Union re- elected ANA correspondent in Austria, Dimitris Dimitrakoudis, as its president for the 14th time.

    The Vienna chapter of the union has 345 members and is considered one of the most significant in Europe.

    Athens News Agency

    [12] Oil prices seen steady despite Iraq crisis, industry official says

    Athens 18/12/1998 (ANA)

    Managing director Eleftherios Tzellas of state-owned Hellenic Petroleum said yesterday that oil prices in the next two months were unlikely to be affected by the Iraq crisis, despite edginess in markets.

    Forecasts based on orders showed oil prices at 11 US dollars per barrel in January and 11.2 US dollars per barrel in February, Mr. Tzellas told reporters.

    Yesterday's prices were flat, he said.

    Airstrikes fuel dollar in domestic market : The dollar emerged stronger in the domestic market yesterday, propelled by the Iraq crisis.

    The greenback finished at 278.210 drachmas at the central bank's daily fix from 277.660 a day earlier, then rising further to 279.83 drachmas after the fix.

    Key European currencies also finished slightly higher.

    The mark closed at 168.105 drachmas and the Ecu at 330.250 drachmas.

    Bond trading was lacklustre in light to moderate trade with prices flat, and money market rates held steady with slight pressure noted in one-month interbank deposits, which edged up to around 12.20 percent.

    Athens News Agency

    [13] Xenia Hotel tender draws bids from three Cretan hoteliers

    Athens 18/12/1998 (ANA)

    Three major Cretan hoteliers yesterday submitted bids in a tender to award a long-term lease on a hotel in Lagonissi owned by the Greek National Tourism Organisation (GNTO), which is part of the Xenia chain.

    The bids were as follows:

    • Akti Attiki consortium comprising two companies - Olympios Zeus and Agapi - and members of the Daskalandonaki hotel-owning family
    • A consortium comprising Tourism Hotel Trade and Ilios (Mantonanaki interests)
    • Titormos consortium comprising Eriotek, Moda Bagno, Miramonte Pallas, Akti Ariadni, Akti Kokkini, Nea Thiraiki, Rhodes Maris (all Mitsis interests except for Moda Bagno)

    According to sources, Akti Attiki's bid was rejected on technical grounds, but the consortium is expected to challenge the decision.

    GNTO's board is to evaluate the bids and make a recommendation to Development Minister Vasso Papandreou.

    Athens News Agency

    [14] Central bank, capital markets commission sign agreement

    Athens 18/12/1998 (ANA)

    The capital markets commission has signed a cooperation protocol with the Bank of Greece in order to aid operation of the market.

    The president of the capital markets commission, Stavros Thomadakis, told a news conference yesterday that among agreements contained in the protocol were the following:

    • An exchange of data on supervision
    • Moves to harmonise rules on capital adequacy
    • Cooperation in the secondary bond market

    Outling the commission's activities in 1998, Mr. Thomadakis said it had drawn up codes of practice for institutional investors and underwriters; created alliances with Cyprus, Romania and Portugal; and held talks with countries of the European Union, Balkans and Black Sea region to create a multilateral protocol. In 1999, the capital markets commission would lay special emphasis on monitoring initial public offers and attempt to curb the manipulation of shares, Mr. Thomadakis said.

    Athens News Agency

    [15] State telecom still keen on Bulgarian buyout, Sofia says

    Athens 18/12/1998 (ANA)

    Bulgarian Prime Minister Ivan Kostov has said that Hellenic Telecommunications Organisation is still interested in the privatisation of Bulgarian Telecommunications Organisation (BTC), slated for next year.

    Mr. Kostov was speaking in an interview to "Year News", a Dow Jones publication, which was released in Sofia yesterday by the government's press office.

    Bulgarian news reports have said that the Greek state telecom, which is a briskly traded stock on the Athens bourse and is also listed in New York, will join another European telecoms operator to bid for BTC.

    The reports added that OTE was seeking to become the main sector operator in the Balkans following its recent purchase of a majority stake in Romtelecom of Romania.

    Athens News Agency

    [16] Banks appoint intermediary for customer disputes

    Athens 18/12/1998 (ANA)

    The Hellenic Banks Union yesterday appointed a former deputy governor of Agricultural Bank of Greece to the newly created post of intermediary in disputes between banks and their customers.

    Photis Panayotopoulos will head a department being set up to hear complaints from customers and help to resolve disputes amicably.

    The department is due to begin operating in the middle of March.

    Athens News Agency

    [17] Finance ministry to hold 3M T-bill auction Tuesday

    Athens 18/12/1998 (ANA)

    The finance ministry is to auction 30 billion drachmas' worth of three- month treasury bills on Tuesday, December 22, it said in a statement yesterday.

    The auction for the securities in electronic form is open to the market's primary dealers, who are to receive a commission of 0.15 percent, the statement said.

    Athens News Agency

    [18] Stocks end slightly down, shrug off air strikes against Iraq

    Athens 18/12/1998 (ANA)

    Equities finished slightly lower on the Athens Stock Exchange yesterday in scant trade, recouping losses of more than 1.60 percent early in the session.

    The general index ended 0.28 percent down at 2,481.90 points in thin trade. Turnover dropped to 49.2 billion drachmas from 62.7 billion drachmas in the previous session on 14,856,000 shares traded.

    The market remained unperturbed at US and UK airstrikes against Iraq.

    The FTSE/ASE-20 blue chip index lost 0.23 percent to finish at 1,537.07 points.

    The parallel market for smaller cap stocks underperformed the general index, closing 0.78 percent lower.

    Sector indices closed lower across the board.

    Banks fell 0.63 percent, Leasing dropped 0.68 percent, Insurance nosed down 0.35 percent, Investment shed 1.09 percent, Construction slumped 1.94 percent, Industrials slipped 0.03 percent, Miscellaneous lost 1.11 percent, and Holding dived 1.89 percent.

    Of 266 shares traded declines led advances at 180 to 75 with 11 unchanged.

    Making their trading debut on the bourse were information technology firms Infoquest, at 3,700 drachmas, and Despec, at 1,250 drachmas. Both firms ended 99 percent higher.

    The 8.0 percent limit up or limit down does not apply to new listings.

    The most heavily traded stocks were Panafon, Thessaliki, Eskimo and Viosol.

    Scoring the highest percentage gains at or near the daily 8.0 percent upper volatility limit were Lampsa, Nimatemboriki, Kalpinis, Emborikos Desmos (common and preferred), Britannia, Thessaliki and Dimitriadis.

    Posting the biggest percentage losses at or near the 8.0 percent limit down were Bank of Athens, Macedonian Spinning Mills, Papoutsanis, Xifias, Daring, Mohlos, Sigalas, Atemke, Tasoglou and Ergas.

    National Bank of Greece ended at 53,650 drachmas, Ergobank at 27,955, Alpha Credit Bank at 26,680, Ionian Bank at 13,330, Hellenic Telecommunications Organisation at 6,640, Delta Dairy at 3,400, Intracom at 12,000, Titan Cement at 19,970, Hellenic Petro leum at 2,260, Minoan Lines at 6,200, and Panafon at 7,000 drachmas.

    Athens News Agency

    [19] Tourism agency has overhaul legislation ready

    Athens 18/12/1998 (ANA)

    The Greek National Tourism Organisation (GNTO) has prepared four presidential decrees to overhaul the state agency, its general secretary, Mihalis Kyriakidis, said yesterday.

    The decrees will be given to GNTO employees next week for comment.

    Under the restructuring, GNTO's powers will be distributed among the development ministry and the country's regional authorities.

    A tourism secretariat will be established at the ministry.

    Athens News Agency

    [20] Hellenic Petroleum reports 151 pct profit jump in Jan-Oct

    Athens 18/12/1998 (ANA)

    State-owned Hellenic Petroleum, which is listed on the Athens bourse, yesterday reported a pre-tax profit jump of 151 percent in January-October against the same period of 1997.

    The company's managing director, Eleftherios Tzellas, told a news conference that the group's operational results were up 25.2 percent in the same period.

    Hellenic Petroleum's robust performance was due to a better utilisation of refineries, thereby improving the composition of output, higher sales, and the containment of costs, both fixed and variable, Mr. Tzellas said.

    Investments in January-October rose by 7.3 billion drachmas, he added.

    Athens News Agency

    [21] Computerised tax network to be completed end-1999, gov't says

    Athens 18/12/1998 (ANA)

    A programme to computerise the finance ministry's tax operations will be completed at the end of 1999, when all tax offices will be included, Deputy Finance Minister George Drys said yesterday.

    The Taxis programme is to centralise all data on taxpayers, aiding the government's drive to combat tax evasion.

    Mr. Drys was attending a ceremony for incorporation of the Aghia Paraskevi tax office into the Taxis network, the 100th branch to be integrated.

    Athens News Agency

    [22] Medium-sized light industries seen waning - survey

    Athens 18/12/1998 (ANA)

    A gradual decline in the number of the country's light industries has occurred in the last five years but small and large firms in the sector are becoming more numerous, the Light Industry Chamber of Athens said yesterday.

    The trend emerged in a survey of 4,000 enterprises carried out by BEA following its last round of research in 1993.

    Sixty percent of firms were the same in both polls.

    Athens News Agency

    [23] Two more banks cut rates

    Athens 18/12/1998 (ANA)

    Two more banks announced rate cuts yesterday in the wake of a 0.50 percentage point decline in the central bank's key intervention rate over a week ago.

    ABN AMRO said it would cut its lending rates by up to 2.20 percentage points on Monday and its credit card rates by 1.0 point on January 1.

    Hellenic Industrial Development Bank, which is listed on the Athens bourse, is to cut its loan rates by 1.75 percentage points on Monday.

    Athens News Agency

    [24] 'Mini insurance bill' ratified in Parliament

    Athens 18/12/1998 (ANA)

    The "mini insurance bill" was ratified in Parliament yesterday after Labour Minister Miltiades Papaioannou agreed to withdraw two amendments made on Wednesday.

    Yesterday's last day of debate on the bill concerning the restrucuring of special insurance agencies was marked by the withdrawal of the Democratic Social Movement (DHKKI) party and protests by opposition parties over the major number of amendments made by the government.

    The first of the two amendments withdrawn mandated compulsory pensioning of Olympic Catering employees who have garnered 10,500 pension stamps and the voluntary retirement of those with 9,000. The second concerned the joining of positions and the granti ng of permanent status at the Social Insurances Fund (IKA) of employees hired at IKA in 1994 after being dismissed in 1990 by public organisations (OTE, ERT, etc).

    DHKKI leader Dimitris Tsovolas told Mr. Papaioannou he had turned Parliament into an industry producing bills, while main opposition New Democracy party Parliamentary representative Dimitris Sioufas spoke of a "raid" of amendments.

    ND honourary president Constantinos Mitsotakis said issue of ministers tabling amendments, which were irrelevant with a bill, "was monstrous."

    Athens News Agency

    [25] Farm produce prices decrease in EU for '98

    BRUSSELS 18/12/1998 (ANA - P. Pantelis)

    Prices of agricultural produce decreased by 3.7 per cent in the European Union in 1998 compared to 1997.

    The agricultural income in the EU decreased by 3.9 per cent in real prices and the agricultural income of the "11" euro member-states decreased by 2.5 per cent. In Greece, prices decreased by 5.1 per cent and agricultural income by 16.4 per cent.

    According to the Eurostat bulletin, the biggest decreases in agricultural prices occurred in Denmark (-11.1 per cent) and Britain (-11 per cent). On the contrary, they increased in Portugal (2.6 per cent) and Italy (0.5 per cent). The decrease is attrib uted to a decrease in the real prices of animals and animal products (-8.0 per cent).

    The real market prices of agricultural production means decreased by 3.2 per cent, while agricultural transactions decreased by 0.5 per cent in 1998 compared to 1997.

    Agricultural income increased in Sweden, Germany, Luxembourg and Italy and decreased in other member-states. The decrease (-3.9 per cent) of the average agricultural income of the EU in 1998 follows the decrease (-2.7 per cent) taking place in 1997,the greatest recorded in the last 20 years.

    However, the level of of agricultural income of the EU remains higher by about 12 per cent of the average agricultural income in 1991 and 1992. The decrease in the agricultural income of the "11" euro countries was -0.6 per cent in 1997.

    Athens News Agency Athens 18/12/1998 (ANA)

    [26] Athens Foreign Exchange

    Bank of Greece closing rates of: December 17, 1998

    Parities in Drachmas

    Banknotes            Buying  Selling
    US Dollar            277.135 283.561
    Can.Dollar           180.147 184.324
    Australian Dlr       173.149 177.163
    Pound Sterling       465.645 476.441
    Irish Punt           414.061 423.661
    Pound Cyprus         561.393 574.409
    Pound Malta          687.194 715.827
    Turkish pound (100)    0.081   0.084
    French franc          49.733  50.886
    Swiss franc          206.455 211.242
    Belgian franc          8.086   8.274
    German Mark          166.760 170.627
    Finnish Mark          54.870  56.142
    Dutch Guilder        147.992 151.423
    Danish Kr.            43.850  44.867
    Swedish Kr.           34.530  35.330
    Norwegian Kr.         36.238  37.078
    Austrian Sh.          23.706  24.255
    Italian lira (100)    16.843  17.234
    Yen (100)            238.278 243.803
    Spanish Peseta         1.960   2.006
    Port. Escudo           1.628   1.666
    
    Foreign Exchange     Buying  Selling
    New York             277.135 283.561
    Montreal             180.147 184.324
    Sydney               173.149 177.163
    London               465.645 476.441
    Dublin               414.061 423.661
    Nicosia              561.393 574.409
    Paris                 49.733  50.886
    Zurich               206.455 211.242
    Brussels               8.086   8.274
    Frankfurt            166.760 170.627
    Helsinki              54.870  56.142
    Amsterdam            147.992 151.423
    Copenhagen            43.850  44.867
    Stockholm             34.530  35.330
    Oslo                  36.238  37.078
    Vienna                23.706  24.255
    Milan                 16.843  17.234
    Tokyo                238.278 243.803
    Madrid                 1.960   2.006
    Lisbon                 1.628   1.666
    
    Athens News Agency

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