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Athens News Agency: Daily News Bulletin in English, 00-02-11

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] Revision of EU treaties imperative, Simitis says
  • [02] Simitis outlines Greek approach on employment issues to Portuguese PM
  • [03] on EU enlargement
  • [04] Simitis to attend SE European summit in Bucharest
  • [05] Government rejects Turkish claims of Greek harassment
  • [06] Greek, Bulgarian, Turkish FMs to meet
  • [07] Clerides to update party leaders on second round of Cyprus proximity talks
  • [08] Demirel congratulates Stephanopoulos on re-election
  • [09] AHEPA congratulates Stephanopoulos on re-election
  • [10] New Democracy can win the elections, Avramopoulos says
  • [11] ND leader requests parliamentary debate on terms and conditions of election campaign
  • [12] Former ND minister says will join PASOK in elections
  • [13] Middle to high-income earners most fervent supporters of government's economic policies
  • [14] NATO secretary general due in late February
  • [15] German President to visit Greece and Turkey early March
  • [16] Greece denounces act of terrorism in Tehran
  • [17] PASOK's European Parliament group says European legislation and regulations may have shortcomings
  • [18] KKE organizes rally to support party paper involved in lawsuit
  • [19] Greek stocks end sharply lower, end seven-day rally
  • [20] National Bank's 1999 pre-tax profits rise 76 pct
  • [21] Canadian trade delegation in Thessaloniki
  • [22] Greek Ship owners' Union re-elects Lyras as president
  • [23] Outlook for Greek-S. Korean trade seen healthy
  • [24] Bureau on convention tourism opens in Thessaloniki
  • [25] PM Simitis tours new Acropolis museum site
  • [26] Simitis tours Dionysiou Aeropagitou walkway site
  • [27] Most green card applicants getting their permits, deputy labor minister says
  • [28] Italy, Greece and other countries involved in illegal anabolic trade

  • [01] Revision of EU treaties imperative, Simitis says

    Athens, 11/02/2000 (ANA)

    The revision of European Union treaties is imperative if the block is to deal successfully with the historic challenge of enlargement, Greece said on Thursday.

    "Without a revision and adjustment of the institutional architecture and the decision-making process, the enlarged European Union will be led to an inability to formulate policy and adopt decisions," Prime Minister Costas Simitis said, in a memorandum to his 14 counterparts and Commission President Romano Prodi on the institutional reform of the Union.

    The debate on the new Intergovernmental Conference will begin in the General Affairs Council in Brussels on February 14.

    The revision also provides an opportunity for reforms in a broad range of areas of direct interest to the ordinary citizen.

    "The revision also constitutes an opportunity to strengthen the democratic and social character of the European Union, through the adoption of measures that will bring the Union closer to the European citizen ... In this logic, Greece holds the view that the agenda of the Intergovernmental Conference must include issues not only of institutional nature but also others of direct interest to the European citizen, such as boosting employment and cohesion, consumer protection, food safety, sports and the society of information," Simitis said.

    The process has to take into account the need for strengthening the principles upon which it is based, such as equality between member-states, democracy, solidarity and cohesion.

    "The revision must not lead to the overthrow of the basic and historically vindicated balances, such as between the larger and smaller member-states, balances which have ensured the success of the system of the European Union as a union of peoples and nations," Simitis added.

    Greece believes that all member-states must be represented in the Commission if its actions are to be effective and invested with legitimacy, and is in favor of maintaining the existing basic distribution of votes between the larger and smaller members in the Council of Ministers, the prime minister stressed.

    As regards decision making, "Greece believes that issues of vital and constitutional interest, as well as issues connected with the defense policy of the Union must remain under the rule of unanimity in the adoption of decisions".

    "Finally, Greece believes that the adoption of arrangements which would alter the cohesion and unity of the institutional, political and economic system of the European Union, or would lead to a 'multi-speed' Europe, must be avoided," said Simitis.

    [02] Simitis outlines Greek approach on employment issues to Portuguese PM

    Athens, 11/02/2000 (ANA)

    Prime Minister Costas Simitis has sent his Portuguese counterpart and the current president of the European Union, Antonio Guiterres, a letter outlining the Greek government's approach on the necessity of forging a strategy on employment and social cohesion.

    According to a news release from the Prime Minister's office, Simitis' letter touched on issues such as employment, technology, know-how and social cohesion.

    A European Council is to be held in Lisbon on these issues on March 23-24.

    Simitis will outline the Greek positions on these issues and the concerns it believes must be taken into consideration in the forming of a new strategy for the European Union up to the year 2010. These include job growth being linked to prosperity, reducing inequalities and achieving social balance.

    Simitis' letter says that the European development model, as it has evolved to date, has a strong social aspect, which is coming under pressure from international developments. But this social aspect should be protected and strengthened, Greece believes.

    The government also believes that high growth rates are necessary to foster employment, while high growth rates in Europe should be linked to the best possible use of factors which will create competitiveness and new production opportunities.

    The differences between production and competition between stronger and weaker countries and regions in the Union should be contained, Simitis also notes. The policies of the EU and of separate member-states should inspire confidence, provide prospects and ensure workers' participation in the benefits that development brings.

    Also to be given equal weight in efforts to boost employment, alleviate social exclusion and provide equality are policies for small and medium size enterprises, a fertile environment for young entrepreneurs, a more effective public sector and the better operation of the job market.

    Simitis also stresses the need for coordination between macro-economic policies, structural policies and reforms and prevailing employment policies so as to create a new vision for Europe.

    Alternate foreign minister to inaugurate meeting

    [03] on EU enlargement

    Athens, 11/02/2000 (ANA)

    Alternate Foreign Minister Christos Rokofyllos will inaugurate the first cycle of informative meetings on European Union enlargement, which will be jointly organized by the Foreign Ministry's Diplomatic Academy and the Greek Forum for Europe.

    The first cycle will take place at the Foreign Ministry on Friday and will focus on "Enlargement after the Helsinki summit-The cases of Cyprus, the Czech Republic, Estonia, Hungary, Poland and Slovenia."

    [04] Simitis to attend SE European summit in Bucharest

    Athens, 11/02/2000 (ANA)

    Prime Minister Costas Simitis departs on Friday for Bucharest to participate in a two-day southeast European countries summit.

    The summit, to which the Federal Republic of Yugoslavia has not been invited, is expected to adopt a "Good Neighborliness Charter" which had been initialed two months ago by the participating countries' foreign ministers.

    The charter is a political declaration of principles for this century. During the summit ways of enforcing regional economic cooperation are also expected to be discussed.

    Reliable diplomatic sources said that Greek Prime Minister Simitis is expected to table during the summit the issue of the lifting of sanctions imposed on Yugoslavia.

    The same sources also said that Simitis, on the sidelines of the summit, would hold meetings with counterparts from Turkey, Bulent Ecevit, from Bulgaria, Ivan Kostov and the Former Yugoslav Republic of Macedonia (FYROM), Ljubco Georgievski.

    Foreign Minister George Papandreou, who will accompany Simitis to Bucharest, is expected to raise the issue of the lifting of sanctions against Yugoslavia during the European Union General Affairs due to meet in Brussels next Monday and Tuesday.

    Diplomatic sources said Papandreou will bring to the attention of his European counterparts that the embargo has proven to be anti-productive, that it strengthens the regime of Yugoslav President Slobodan Milosevic and favors the development of crime and smuggling.

    The Greek proposal is for the lifting of the ban on flights and of the supply of petrol to Yugoslavia.

    Simitis on Thursday afternoon chaired a meeting focusing on the summit.

    Foreign Minister George Papandreou, who participated in the meeting, told reporters that Greece "will present concrete proposals and initiatives for an immediate promotion of issues relating to stability and development in the Balkans."

    [05] Government rejects Turkish claims of Greek harassment

    Athens, 11/02/2000 (ANA)

    The government on Thursday rejected claims in Turkish media that Greek fighter aircraft had harassed Turkish jets over the Aegean, saying the opposite was true.

    "On the contrary, Turkish fighter aircraft violated Athens FIR yesterday (Wednesday) morning and Greek national air space between Limnos and Lesvos and east of Rhodes," government spokesman Dimitris Reppas said.

    Reppas was responding to reports in Turkish papers Wednesday that Greek warplanes had harassed Turkish fighter planes on training missions over the past two weeks. The reports claimed the incidents occurred in international airspace near the northeastern Aegean island of Limnos but were not made public so as not to endanger the growing detente between Greece and Turkey.

    Noting that the improvement in Greek-Turkish relations has been dramatic, Reppas said that Greece would not negotiate on its sovereign rights and would continue to call on Turkey, as it did on other countries, to accept a framework of peace and cooperation in the region.

    Reppas said the Greek government condemned the incidents, which it believed to be absolutely negative.

    "This practice shows that there is a great distance in implementing in practice the principles and rules which Turkey committed itself to in Helsinki," Reppas said.

    [06] Greek, Bulgarian, Turkish FMs to meet

    Athens, 11/02/2000 (ANA)

    The foreign ministers of Greece, Bulgaria and Turkey will meet in the Greek border town of Thrace on February 19-20 to inaugurate a new trilateral cooperation proposed by the Bulgarian side.

    Foreign ministers George Papandreou of Greece, Nadejda Mihailova of Bulgaria and Ismael Cem of Turkey will also visit three cities on the borders between the three countries -- Orestiada in Greece, Hadrianople in Turkey and Babarovo in Bulgaria.

    Bulgaria has submitted a draft of a joint declaration by the three foreign ministers reaffirming the principles of good neighborhood and respect of territorial integrity among the three countries, to which Turkey has voiced objections, foreign ministry sources said.

    [07] Clerides to update party leaders on second round of Cyprus proximity talks

    NICOSIA, 11/02/2000 (CNA/ANA)

    President Glafcos Clerides will update National Council members on Friday on the second round of the UN-led proximity talks that took place in Geneva between January 31 to February 8.

    Political party leaders who comprise the National Council, top advisory body to the president on the handling of the Cyprus problem, will be able to raise any issues they want, Government spokesman Michalis Papapetrou announced on Thursday.

    The president returned from the proximity talks in Geneva on Wednesday and a third round is scheduled to take place in New York from May 23 to June 2.

    The fresh UN effort for a settlement began in New York in December last year and aims at substantial negotiations, which will prepare the ground for a comprehensive settlement in Cyprus, divided since 1974 when Turkish troops invaded and occupied 37 percent of its territory.

    The government spokesman further conveyed President Clerides' appeal for calm in the interior front, in response to statements made by church leaders against a federal solution in Cyprus.

    Over the past few weeks some church leaders have been making statements opposing the setting up of a bizonal, bicommunal federation in Cyprus despite the fact that this was agreed between the two sides and stipulated for in numerous UN resolutions.

    Papapetrou recalled that on numerous occasions the National Council has reiterated its support to a federal solution and underlined that this is where the government policy aims.

    [08] Demirel congratulates Stephanopoulos on re-election

    Athens, 11/02/2000 (ANA)

    Turkish President Suleyman Demirel has sent a message of congratulations to his Greek counterpart Kostis Stephanopoulos, on the occasion of Stephanopoulos' re-election earlier this week

    Demirel wished the "friendly Greek people" luck and prosperity in his message, saying the president's re-election would further contribute to improving the atmosphere between the two countries.

    "I want to stress once more that the strengthening of relations with Greece is one of the basic principles of our foreign policy," Demirel said.

    "Today's positive climate will encourage the deepening of our ties to the mutual benefit of our countries."

    Stephanopoulos was re-elected to a second five-year term on Tuesday, with 269 deputies of the 300-members House voting in his favor. He required at least 200 votes to be elected in the first round of the three-poll procedure.

    [09] AHEPA congratulates Stephanopoulos on re-election

    Athens, 11/02/2000 (ANA)

    The Hellenic-American Educational and Progressive Association (AHEPA), one of the largest Greek-American organizations, has sent a letter to President of the Republic Costis Stephanopoulos congratulating him on his re-election to the post for a second consecutive term.

    "On behalf of AHEPA, I would like to express my warm congratulations for your re-election to the post of President of the Hellenic Republic," AHEPA president George Dariotis said in a letter released in Athens on Thursday.

    "With your re-election, you achieved something that has not been done by any Head of State since the restoration of democracy in Greece in 1974. Also, the backing you received by the largest parties in parliament directly reflects your leadership qualities and your devotion to the unity and unanimity of the Greek people," Dariotis said, adding that he would personally congratulate Stephanopoulos in the spring when AHEPA organized its annual visit to Greece.

    [10] New Democracy can win the elections, Avramopoulos says

    Athens, 11/02/2000 (ANA)

    Athens mayor Dimitris Avramopoulos said Thursday the main opposition New Democracy party was capable of winning the April 9 early general elections, just hours after he announced his own decision to turn down an invitation to run for parliament on the ND ticket.

    Avramopoulos, who in a televised statement Wednesday announced his decision to turn down an invitation by ND leader Costas Karamanlis to run for parliament on the party ticket but serve out his term as mayor, said in a newspaper interview published Thursday that ND had a "young, dynamic and capable" leader, and was "able to win".

    "I believe that New Democracy can win, and it must believe this, above all...it doesn't need me to win. It (elections) is not a matter of one individual," he said.

    ND "must believe this, above all," he added.

    Avramopoulos conceded that the recent flood of opinion polls had played a role in his decision not to run for parliament.

    Asked to comment on long-running speculation that he intended to set up his own political party, Avramopoulos said that "no such issue is at hand".

    The highly popular career diplomat said that no leadership issue should be put forward in the event of an ND defeat in the parliamentary elections, adding that "the causes should be analyzed" in such an eventuality, but added that "I believe that ND can win the elections".

    Meanwhile, ND parliamentary spokesman Dimitris Sioufas said that Avramopoulos' decision would not have negative repercussions on the party, and recalled Avramopoulos' statement, in announcing his decision not to run for MP, that he belonged to New Democracy and supported Karamanlis.

    ND honorary president and former premier Constantine Mitsotakis, asked to comment on Avramopoulos' decision, said "Mr. Avramopoulos has made his choice. New Democracy is moving forward."

    [11] ND leader requests parliamentary debate on terms and conditions of election campaign

    Athens, 11/02/2000 (ANA)

    Main opposition New Democracy party leader Costas Karamanlis on Thursday addressed a letter to Parliament President Apostolos Kaklamanis, requesting an off the agenda debate in parliament on the terms and conditions of parties' political confrontation during the election period.

    "We are positive on a clarification of political life by resorting to the people. However, the government is insisting on practices of the past and on approaches which offend every thinking person," Karamanlis said in his letter.

    Listing measures, which, in his opinion, can upgrade the election campaign, Karamanlis said frequent outdoor rallies should be avoided, as well as the transfer of citizens from one place to another and the blocking of streets. A dialogue should be launched with the participation of all party leaders on equal terms, while there should be substantive control of total election expenditures, starting from the day elections were announced.

    Karamanlis also said the state should buy radio and TV time and allocate it to parties to enable them to promote their messages and state TV should comply immediately with article 15 of the constitution on broadcasting information and news objectively and on equal terms.

    [12] Former ND minister says will join PASOK in elections

    Athens, 11/02/2000 (ANA)

    A former conservative New Democracy expelled from his party for not toeing the line under new leader Costas Karamanlis said on Thursday he would be a candidate with the ruling socialists in the April 9 elections.

    Vassilis Kontoyannopoulos made the announcement to reporters after a meeting with Prime Minister Costas Simitis, the president of ruling PASOK.

    Kontoyannopoulos will run on PASOK's ticket for the Athens B' constituency.

    Prime Minister Costas Simitis "is the Prime Minister which the country needs for the next four years," the former education minister told reporters.

    He said Simitis was "able and worthy" and the right man to lead the country in the post economic and monetary union era which Greece was headed to.

    In a statement, Simitis welcomed Kontoyannopoulos into PASOK's ranks and said his past cooperation with the former minister had always been fruitful.

    Kontoyannopoulos was one of three leading deputies of the conservative opposition expelled from the party in February 1998 for failing to support the party line and vote against a government provision changing relations between workers and management at state-run public utilities. The former minister abstained from the vote.

    After his expulsion, he acted as an independent deputy in the Greek Parliament.

    [13] Middle to high-income earners most fervent supporters of government's economic policies

    Athens, 11/02/2000 (ANA)

    Almost half of the residents of the prefecture of Attica support the government's economic policies, according to a poll published in the latest edition of financial weekly Ekonomikos Tachydromos.

    The poll, conducted by V-PRC every two months, indicated that 44.5 percent of Attica residents supported the ruling socialists' economic and monetary union-oriented economic policy, while another 50.5 percent believed that the government was making no inroads in economic policy.

    This latter figure was a marked fall from the 85 percent who said they had no confidence in economic policy a year ago.

    The government found most support for its economic policies among middle and high income earners (72.5%) while more employers and self-employed professionals (58.2%) professed their support than they had in November (51%), when the barometer was last taken.

    More than half (52.5%) of the middle income bracket professed support, compared to 44.6% who were opposed.

    But low income earners and homemakers said they were, on the whole, dissatisfied with economic policy.

    Five in ten people with monthly wages of between 150,000 and 300,000 drachmas opposed the economic policy in force, while the percentage rose to six in ten among those who made less than 150,000 drachmas.

    The poll showed that the government's most likely economic policy supporter was a male with higher education in the middle to high-income brackets.

    Generally more women than men opposed economic policy (56% to 38.2% in favor) and this percentage was higher among those women who did not work.

    [14] NATO secretary general due in late February

    Athens, 11/02/2000 (ANA)

    NATO secretary general George Robertson was expected in Athens February 23-24, foreign ministry sources said, on Thursday. They said that Robertson would hold talks here with Prime Minister Costas Simitis, foreign minister George Papandreou and defense minister Akis Tsohatzopoulos on ideas and proposals for Confidence-Building Measures (CBMs) in the Aegean. Government spokesman Dimitris Reppas confirmed later the visit Reppas also confirmed that a planned visit to the Greek capital by the NATO general commander in Kosovo had been called off, due to a resurgence of tension in the region.

    [15] German President to visit Greece and Turkey early March

    BERLIN, 11/02/2000 (ANA - AFP)

    German President Johannes Rau is to pay official visits to Greece and Turkey between March 3 and 8, according to an official statement by the Presidency on Thursday.

    [16] Greece denounces act of terrorism in Tehran

    Athens, 11/02/2000 (ANA)

    Foreign Ministry spokesman Panayiotis Beglitis on Thursday reiterated Greece's firm position "which strongly denounces all acts of terrorism from wherever they come from."

    He was responding to the recent act of terrorism in Tehran, which cost the life of one person and injured another four.

    Beglitis expressed the government's sincere sympathy towards the families of the victims of this "hideous act".

    [17] PASOK's European Parliament group says European legislation and regulations may have shortcomings

    Athens, 11/02/2000 (ANA)

    The ruling PASOK party's European Parliament group on Thursday stressed in an informative bulletin on the rights of the European citizen that no political or administrative body is infallible.

    The bulletin said European legislation and regulations, just as in the case of any legislative document, might have shortcomings in practice. Even the most careful transfer of a European legislative clause to national or local law may have mistakes, apart from the fact that administrations have the tendency of developing a bureaucratic attitude, which alienates citizens.

    PASOK Eurodeputy Ioannis Koukiadis said the society of citizens is a society of the citizen's participation in public affairs to enable him to come closer to the European structure.

    [18] KKE organizes rally to support party paper involved in lawsuit

    Athens, 11/02/2000 (ANA)

    Communist Party of Greece (KKE) on Thursday organized a rally in central Athens to protest the civil action law suits brought by Justice Minister Evangelos Yiannopoulos against the party daily "Rizospastis".

    The minister is seeking 500 million drachmas in damages, he claimed occurred by the slanderous way the newspaper covered the events in a trial last month involving Yiannopoulos and Attica Supra-Prefect Theodoros Katrivanos. KKE officials claimed that the action by the minister denotes efforts by the government to stifle the freedom of the press and the political actions of the newspaper.

    The justice minister brought charges of slander against the supra-prefect after the latter questioned the former's resistance activities during the occupation of Greece by the Nazis in the early 1940's. Katrivanos was convicted to a prison sentence.

    [19] Greek stocks end sharply lower, end seven-day rally

    Athens, 11/02/2000 (ANA)

    Equity prices ended Thursday's session sharply lower ending a seven-day rally, which pushed the market 12.11 percent higher on the Athens Stock Exchange.

    Traders said investors took early profits despite a wave of buying by foreign institutional investors in blue chip stocks like Hellenic Telecoms and National Bank of Greece.

    The general index ended at 5,499.97 points, off 1.69 percent, near the day's lows. Turnover was a moderate 313.20 billion drachmas.

    The FTSE/ASE 20 index for blue chip and heavy traded stocks fell 1.82 percent to 2,918.99 points, while the FTSE/ASE MID 40 index dropped 2.05 percent to 945.21 points.

    Sector indices ended as follows: Banks:10,136.13

    -1.83% Leasing: 1,420.59 +0.94% Insurance: 3,662.04 -2.21% Investment: 2,702.33 -1.50% Construction: 3,557.42 -1.81% Industrials: 3,296.01

    -1.46% Miscellaneous: 6,988.38 -1.76% Holding: 6,357.11 -2.80%

    The parallel market index for smaller capitalization stocks fell 1.70 percent to 1,634.52 points.

    Broadly, decliners led advancers by 247 to 75 with another eight issues unchanged.

    Technical Publications saw its share price soar 337.43 percent on the first trading day on the market. Tegopoulos Publications, Ergas, Lampsa and Benroubi were also big percentage gainers.

    Korfil, Macedonian Spinning, ANEL Lines (p), GEK, Diekat and Naoussa Spinning suffered the heaviest losses.

    Panafon and ETBA were the most heavily traded stocks.

    Leading shares' closing prices (in Drs): National Bank: 24,900 Alpha Credit: 26,210 Commercial Bank: 24,710 Eurobank: 13,425 Hellenic Telecoms: 9,500 Panafon: 5,105 Hellenic Petroleum: 4,590 Titan Cement: 17,105 Minoan Lines: 8,850 Intracom: 15,240

    Derivatives contracts end lower: Future contract prices ended lower on Thursday following sharp falls in the two benchmark indices FTSE/ASE 20 and FTSE/ASE MID 40 on the Athens Derivatives Exchange.

    A total of 1,215 contracts, worth 7.1 billion drachmas, were traded on the FTSE/ASE 20 index with the February contract closing at 2,935 points, the March contract at 2,959, April at 2,977 and the June contract at 2,990 points.

    A total of 1,183 contracts, worth 4.5 billion drachmas, were traded on the FTSE/ASE 40 index. The February contract ended at 956, the March at 968 and the April contract at 985 points.

    Bonds succumb to profit-taking, tracking bund: Bonds in the domestic secondary market came under pressure on Thursday, tracking German bunds, after markets abroad were hit by talk that Austria was likely to be expelled from the European Union.

    Domestic profit taking spread to paper like the 15-year bond that carried an attractive spread over bunds, and was expected to draw buyers.

    The benchmark 10-year bond showed a yield of 6.58 percent, the same as a day earlier, from 6.45 percent to 6.47 percent on Tuesday and 6.47 percent to 6.50 percent on Monday.

    The paper's yield spread over German bunds ranged from 98 basis points to 100 basis points from 98 basis points in the previous two sessions and 100 basis points on Monday.

    Trade through the central bank's electronic system totalled 64 billion drachmas from 28 billion drachmas a day earlier and 46 billion drachmas on Tuesday.

    In Wednesday's trade, sell orders accounted for 35 billion drachmas of turnover.

    Analysts said there was little room for the yield spread to drop lower, and that even a central bank rate cut of 75-100 basis points would have little impact on the market.

    The only factor that the market had yet to discount was the extent of the rate cut, expected in March, the analysts said.

    Drachma noses down vs. euro, dollar: The drachma crept down against the euro and the US dollar in the domestic foreign exchange market on Thursday.

    At the central bank's daily fixing, the euro was set at 332.880 drachmas from 332.850 drachmas in the previous session and 332.800 drachmas on Tuesday.

    Also at the fixing, the dollar was set at 336.180 drachmas from 335.950 drachmas a day earlier and 337.300 drachmas on Tuesday.

    [20] National Bank's 1999 pre-tax profits rise 76 pct

    Athens, 11/02/2000 (ANA)

    National Bank of Greece, the country's largest financial institution, on Thursday announced a 76 percent increase in its net pre-tax profits for 1999 to 229 billion drachmas and consolidated pre-tax profits of 362 billion drachmas, up 99 percent from 1998.

    The bank's governor, Theodore Karatzas, said the board would ask shareholders to approve a plan to pay a 400 drachma per share dividend, up from 325 drachmas in 1998. The plan also included a four-to-10 stock offer to shareholders.

    The Group's shareholders' equity totalled 831 billion drachmas last year, up 70 percent from 1998, while the bank's share capital rose 59 percent to 731 billion.

    The group's returns-efficiency factor improved further last year to 45.7 percent, down from 56.1 percent the previous year, placing National Bank of Greece among the most efficient banks in Europe.

    Karatzas said that 1999 results would allow the bank to make provisions of up to 62 billion drachmas this year.

    The governor also left open the possibility of National Bank of Greece showing interest in acquiring or merging with Commercial Bank, although the National Bank was not interested in becoming a strategic investor in its competitor with a 10 percent stake.

    "You don't become a strategic investor with a competitor. You either buy it, or merge with it," Karatzas said.

    He also said that that in a framework of international competition National Bank of Greece was open to cooperation with other banks, such as Alpha Credit Bank, as long as deals would benefit both partners.

    Commenting on the stock market's course, Karatzas said that its long-term trend was linked with economic and business trends which were positive.

    He said that interest rates would continue falling to converge with European rates by the end of the year.

    [21] Canadian trade delegation in Thessaloniki

    Athens, 11/02/2000 (ANA)

    Members of a Quebecquois trade delegation have found considerable ground for the development of trade relations between the Canadian province and northern Greece.

    "Thessaloniki and the broader area has evolved into a particularly interesting market and is highly suitable to the development of business in the Balkans because of its geographical position," said Guy Julien, Quebec's Industry and External Trade Minister and head of the numerous delegation at a reception held in the city's Chamber of Commerce and Industry.

    Chamber President Dimitris Bakatselos stressed Greece was an ideal partner for business in the broader region.

    "In the investment opportunities offered by the Balkan and Black Sea countries, Thessaloniki can become a base for any foreign company, providing a comfortable and modern environment," he said.

    The visiting delegation includes representatives of 17 companies in the sectors of construction, advanced technology, transport, software and information systems.

    Greece runs a trade deficit with Canada, with imports worth 120 million euros and exports of 58 million euros. Imports mainly comprise timber and paper, aircraft spare parts, defense equipment, flour, furs and mechanical and telecommunications equipment, while exports are mainly composed of fruit, construction materials, machine lubricants, and wines.

    Contacts are to continue on Friday, when the delegates are also expected to visit archaeological sites before returning home.

    [22] Greek Ship owners' Union re-elects Lyras as president

    Athens, 11/02/2000 (ANA)

    Yiannis Lyras was re-elected as president on the Greek Ship owners' Union for a second three-year term on Thursday.

    Following ratification of voting, Nikos Efthimiou and Christos Kanellakis were elected vice-presidents, Mattheos Los and Leonidas Dimitriadis-Evgenidis as secretaries and Th. Veniamis as treasurer.

    [23] Outlook for Greek-S. Korean trade seen healthy

    Athens, 11/02/2000 (ANA)

    South Korea's economic miracle favors Greek investment in the country despite a recent recession that hit Asia, a panel of experts told a seminar on Thursday.

    The seminar, entitled "Korea in the Morning Mist of the 21st Century", is part of a series on Asia's economies organized by the Athens-based Institute of International Economic Relations (IIER).

    Main speakers at the event were Athens Chamber of Commerce Councilor Alkis Iliadis and Athens University of Economics Professor Giorgos Stathopoulos. IIER official Asteris Huliaras coordinated the session.

    "The importance of education in South Korea's (economic) miracle played a very important role (in the country's recovery) according to international organizations," Iliadis said.

    In addition to a high level of education, S. Koreans are among the hardest working employees in the industrialized world recording more than 2,200 work hours per year, Stathopoulos said.

    Liberalization and a bid for economic and political transparency have also helped to make the country a prime candidate for foreign investment and export activities, Iliadis said. "Even more so since there is a high trade deficit against Greece" he added.

    South Korea is a net exporter to Greece and the European Union, Iliadis said, adding that South Korean imports to Greece from January to November 1999 totalled US$ 812 million compared to US$ 697 million in January to December 1998.

    Greek exports to that country declined to US$ 27 million in January to November 1999 from US$ 53 million in the whole of 1998, he added.

    "If you ask me if there is a visible perspective for the development of bilateral (economic) relations, I would answer by all means yes. There are people and organizations (in S. Korea) that are very active concerning external policy ... which will aid businessmen in their every effort," Iliadis said.

    He stressed that Greece needed to better coordinate the trade activities of its companies abroad, citing S. Korean government efforts to aid its businesses in developing trade with Greece by assisting visiting delegations.

    [24] Bureau on convention tourism opens in Thessaloniki

    Athens, 11/02/2000 (ANA)

    A Thessaloniki Convention and Visitors Bureau has been established in Greece's second biggest city at the initiative of the prefecture's Union of Hoteliers.

    Speaking at a press conference on Thursday, the President of Thessaloniki CVB's Administrative Committee and President of the Union of Thessaloniki Hoteliers, Vassilis Brovas, said "the aim is to promote the city as an important convention destination and a meeting point for visitors from all over the world."

    The bureau is temporarily being housed at the offices of the Union of Thessaloniki Hoteliers, but it will soon be housed at its own independent premises. The official presentation of the bureau will take place during a special ceremony on February 16.

    [25] PM Simitis tours new Acropolis museum site

    Athens, 11/02/2000 (ANA)

    Prime Minister Costas Simitis was given a guided tour Thursday of the valuable archaeological findings that have been cited as the reason for last year's decision to call a fourth international tender to build a new Acropolis museum.

    The new museum, which is expected to be built by 2004, will be located at the beginning of the newly paved Dionysou Aeropagitou Street.

    Visitors will be able to access the museum through the Acropolis Metro Station at Makriyanni, due to be opened to the public in three months' time. The station will be decorated with copies of the Parthenon friezes.

    The Central Archaeological Council in October decided to call a new competition for the Acropolis museum after archaeologists on the Council agreed that antiquities in the immediate grounds of the site were too valuable to be ignored.

    The new design, the council stressed, must take into consideration how to protect and showcase the artifacts found in excavations conducted since 1997. The decision was approved unanimously.

    Expressing a hope that the museum will be ready by 2004, when the Greek capital hosts the Olympic Games, Culture Minister Elizabeth Papazoi said that the selection process must be completed by the end of 2000.

    The budget for the project comes to 52 billion drachmas and will be financed by the Third Community Support Framework.

    To date, some 500 million drachmas have been spent on the abortive process to get the new Acropolis Museum off the ground. The amount is considered effectively unrecoverable.

    The budget for the winning design by Italian architects Manfredi Nikoletti and Lucio Pasarelli cost 46 billion drachmas. They won an international architectural competition begun in 1989 and submitted a design on the basis that the site then was considered to have little archaeological value.

    But excavations revealed a settlement dating to the later Roman and early Christian periods, another settlement from the 7th century, with wells, pipes, and a Roman-era bathhouse.

    A new Acropolis Museum is a touchstone in the ongoing campaign to retrieve the Parthenon Marbles from the British Museum. The museum has long said that the Marbles receive the best protection in London.

    The challenge facing those wanting to be part of the new selection process will be to design a museum that sets off and provides protection for the antiquities discovered as well as providing protection for the Acropolis sculptures. It is expected to be of 12-15000m2 surface area, with less auxiliary space.

    An existing building on the site will be converted for the use of visitors.

    Four buildings on Hatzichristou St. and another on Mitseon Street, all of which border the site, are to be expropriated. Papazoi told reporters on Thursday that the expropriation of the five buildings was in the final stage.

    [26] Simitis tours Dionysiou Aeropagitou walkway site

    Athens, 11/02/2000 (ANA)

    Prime Minister Costas Simitis on Thursday visited the site of an ambitious project to link major archaeological sites around the Acropolis by a system of walkways, saying that the project would make the Greek capital a better place to live in.

    "A walk around the historic center will allow ease of access to archaeological sites and citizens will be able to use these for recreation...in a more livable city," he said.

    He noted that similar projects were under way in other parts of Greece, such as Dion and Thessaloniki, and said that such projects were changing the face of Greece. "We are realizing the desires of citizens and innovators," he said.

    Simitis was accompanied on his tour by Environment, Town Planning and Public Works Minister Costas Laliotis and Culture Minister Elizabeth Papazoi

    Work began on the paving of the major avenue at the foot of the Acropolis, Dionysiou Aeropagitou Street, earlier this year. It is the first substantial step towards realizing the project to create a so-called 'archaeological park', first articulated by late Athens Mayor Antonis Tritsis and late Culture Minister Melina Mercouri.

    On its completion, the park will be comprised of the ancient sites of the Parthenon, the Thisseion, the yet-to-be-built Acropolis Museum at Makriyanni and Hadrian's Arch.

    This phase of the project is budgeted at 600 million drachmas and is expected to be completed in August, 2001. In all, the entire project to unite archaeological sites from Keramikos to Vassilisis Amalias Avenue is expected to cost 4.6 billion drachmas, funded by the Third Community Support Framework.

    [27] Most green card applicants getting their permits, deputy labor minister says

    Athens, 11/02/2000 (ANA)

    Deputy Labor Minister Christos Protopappas told Parliament on Thursday that 102,810 permits to work in Greece legally out of some 105,000 applications had been issued.

    Protopappas said 198 committees had been set up to examine each application at the Manpower Organization (OAED) and that the work of issuing green cards was soon expected to be completed.

    The deputy minister was speaking in response to a question submitted by a Democratic Social Movement deputy who charged that the government had delayed the procedure and that foreign workers were operating in Greece unchecked.

    [28] Italy, Greece and other countries involved in illegal anabolic trade

    Athens, 11/02/2000 (ANA)

    The Italian drug squad has broken up an extensive network concerning the illegal trade of anabolic substances and in which Greece is reportedly involved. A total of 49 people have been summoned for questioning, including four doctors, pharmacists and trainers who gave anabolic to athletes.

    The "hormones trade" originated in Denmark and reached Italy and Greece and then Spain and France. The hormone GH, known by the name of "Norditropin", is produced in Denmark by the "Novo Nordisk" company and is sold in Europe only with a doctor's prescription. Large quantities had been stolen in Denmark and other quantities had been purchased before being packaged and ultimately reached Italy and Greece. It is sold in Greece under the name of "Norma".


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