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Athens News Agency: Daily News Bulletin in English, 97-07-12

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

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

ATHENS NEWS AGENCY BULLETIN (No 1235), July 12, 1997

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


CONTENTS

  • [01] Cabinet unanimously endorses Madrid communiqui
  • [02] Gov't spokesman
  • [03] Opposition criticism to joint communiqui increases
  • [04] Brademas comments on Greek-Turkish accord
  • [05] Kranidiotis to tour Middle East
  • [06] Greek-Turkish friendship committee in Turkish National Assembly
  • [07] Turkey not ready for accession talks, EU report states
  • [08] Simitis-Tzoumakas phone discussion focuses on Seikh Sou
  • [09] Seikh Sou torching brings Israeli offer of assistance
  • [10] Fires near Florina, Xilokastro under control
  • [11] Pangalos attends Israeli-Palestinian meeting near Athens
  • [12] Greek institute to open in Tbilisi
  • [13] IOC's Stankovic in Athens
  • [14] Greek ambassador holds talks in Podgorica
  • [15] Renewable Energy Sources conference in Thessaloniki
  • [16] Aerospace medicine makes its debut in Athens
  • [17] SEB, Gov't to organize Euro-Mediterranean Industrial Conference
  • [18] GSEE leader satisfied with social dialogue
  • [19] Laliotis approves funds for projects
  • [20] Tourism study claims drachma devaluation would increase arrivals
  • [21] Latest development plan for eastern Macedonia, Thrace announced
  • [22] Funding for second section of Patra port allocated
  • [23] OTE telephony revenues increase
  • [24] Silver and Baryte investment in Bulgarian mines
  • [25] Greek stocks end higher, reach for 1,600 pt.
  • [26] Greece helps Cyprus expand its EU business presence
  • [27] Poor regions protected in EU expansion plans

  • [01] Cabinet unanimously endorses Madrid communiqui

    Athens, 12/77/1997 (ANA)

    Prime Minister Costas Simitis briefed the Cabinet during a four-and-a-half hour meeting yesterday on the joint communiqui issued by Greece and Turkey regarding bilateral relations.

    Mr. Simitis told reporters that "everything went very well," noting unanimity on what was decided.

    The premier said he had explained in detail the policy followed in Madrid, adding that it simply marked "the beginning of a path which will be very long and difficult."

    All the ministers attending the Cabinet meeting had the opportunity to express their views on the communiqui, Mr. Simitis said, while the prime minister added that the road to peace and to a strong Greece would be difficult.

    "In Madrid we took the first step," he said.

    Echoing the premier's comments, National Defense Minister Akis Tsohatzopoulos also said "every-thing went well" and that there had been no objections.

    The communiqui was issued after talks between Mr. Simitis and Turkish President Suleyman Demirel on the sidelines of the NATO summit in Madrid on Tuesday.

    Mr. Simitis has described the communiqui as a document of principles which will govern relations between Greece and Turkey.

    [02] Gov't spokesman

    Athens, 12/77/1997 (ANA)

    The content of the joint communiqui met with unanimous approval from Cabinet members in yesterday's meeting, according to government spokesman Dimitris Reppas.

    Nevertheless, he said that although Education Minister Gerassimos Arsenis noted that before the communiqui was issued, it should have been discussed by the Cabinet, he did not question confidence in the government or ask for the communiqui's retraction.

    Mr. Tsohatzopoulos also declared there had been agreement within the Cabinet on the issue.

    Mr. Reppas noted that the defense minister had told Cabinet that in fact, policy had not changed and that the government's positions were compatible with its policy statement.

    That policy, Mr. Reppas added, was aimed at peace, security and good neighborly relations. Thus, the government was assuming initiatives, on the condition that international treaties were respected. "Nothing was discussed (in Madrid) which is not contained in the text of the communiqui, nor can there be an interpretation on the contrary," he stressed, adding that adherence to the text could positively influence processes which are already in motion (experts' committee on bilateral relations and dialogue on confidence-building measures within the framework of NATO).

    Meanwhile, the spokesman also emphasized that Greece's proposals for a step by step approach to bilateral issues (such as the continental shelf and the Imia islet) still held.

    There was no political dialogue on all issues with Turkey, he added. With regard to yesterday's Cabinet meeting, the government spo-kesman said the discussion had been interesting, useful and of a high standard, while it had been agreed that Greece should undertake initiatives.

    Mr. Reppas said the Cabinet meeting also touched in an indirect way on opposition to the communiqui voiced by 22 PASOK deputies.

    The 22 deputies on Thursday reacted strongly to the communiqui, saying Greece was "gradually slipping into choices that result in recognition of Turkish claims, legalization of Ankara's expansionistic status and an expiation of its policies."

    Mr. Reppas, who said the criticism did not reflect the truth, echoed the views which have been voiced earlier in the meeting, when he said that such actions could create difficulties for foreign policy.

    The party's political secretariat is considering the issue, Mr. Reppas added.

    Asked to comment on Athens FIR violations by Turkish aircraft on Thursday, Mr. Reppas said this was an indication that the normalization of Greek-Turkish relations would not be without problems.

    Quizzed as to whether it was likely that an agreement to refer the dispute of the Aegean continental shelf to arbitration would be signed by the experts' committee, Mr. Reppas said there was an on-going process.

    "We are waiting for the Turkish experts to answer to the second Greek memo. Then, either it will be the end of the first round, or else an agreement will be reached for further discussion of procedural issues," he said.

    Speaking to reporters, meanwhile, in Thessaloniki, Interior Under-secretary Tassos Mantelis said that those who had expressed disagreement with the Madrid communiqui would eventually be convinced of its importance.

    Focusing on six fundamental principles designed to ease tensions, the communiqui aims at restoring bilateral relations between the two countries.

    The agreement calls for respect for each other's sovereignty, international law and treaties and resolution of disputes through peaceful means.

    [03] Opposition criticism to joint communiqui increases

    Athens, 12/77/1997 (ANA)

    Discussion at yesterday's Cabinet meeting and statements by Mr. Simitis and government spokesman Reppas on the joint communiqui apparently failed to satisfy the opposition which, with latest statements, is requesting additional information and dialogue.

    The main opposition New Democracy party again requested through party spokesman Aris Spiliotopoulos, "briefing for the Greek people" by the government on the formalities and the conditions of the Greek-Turkish communiqui's issuance in Madrid.

    The Coalition of the Left and Progress and the Democratic Social Movement (DHKKI) insist on an extraordinary parliamentary plenary session as well as of a meeting of the party leaders council.

    On its part, the Political Spring party is continuing its attack on the government over the communiqui, as well as directing criticism at the Cabinet meeting.

    "The prime minister and the government are continuing to remain silent on issues we raised. This means that either they want to conceal substantive aspects of the document of principles which was signed in Madrid, or that they are unprecedently unable to reply," Mr. Spiliotopoulos said.

    Having repeatedly expressed support for Greek-Turkish dialogue, Synaspismos, through its leader Nikos Constantopoulos, sees an agreement which can be utilized in the Madrid communiqui and which will be judged politically and historically by "where and how it will be promoted."

    He said the prime minister is obliged to brief Parliament immediately and convene the party leaders council on the content of the agreements, discussions which were held beforehand and the moves which will follow.

    DHKKI, which disagreed with the communiqui from the very beginning, claiming that it opens Greece's sovereign rights in the Aegean to dispute and paves the way for its future joint sovereignty and partitioning, raised the issue again yesterday, calling in turn for "briefing for the parties and the Greek people on the content of the agreement."

    [04] Brademas comments on Greek-Turkish accord

    London, 12/7/1997 (ANA-L.Tsirogotakis)

    Former US Senator John Brademas yesterday hailed the six-point agreement signed between Greece and Turkey on the sidelines of the NATO summit in Madrid, as the first step in the right direction.

    "It is much better that the two governments are beginning a constructive dialogue than engaging in tit-for-tat rhetoric," Mr. Brademas, who is US President Bill Clinton's advisor on social and cultural issues, told representatives of the Greek Cypriot community in London.

    Mr. Brademas, who was delivering an address on US foreign policy and the role of Congress in the Cyprus problem, said the agreement, aimed at restoring relations between Greece and Turkey, could have a positive contribution to UN-sponsored face-to-face talks currently held in New York between Cypriot President Glafcos Clerides and Turkish Cypriot leader Rauf Denktash.

    The former senator said the Cyprus problem was one of the major priorities at the White House, pointing out the recent appointment of Richard Holbrooke as US envoy on Cyprus.

    "Bill Clinton is the first US President since Lyndon Johnson to show concern and make an effort towards finding settlement to the Cyprus problem," he said.

    The European Union, the tremendous economic cost of sustaining the military occupation in Cyprus and the pressure being put by Turkish businessmen on their government will help improve Greek-Turkish relations and resolve the Cyprus issue, he added.

    [05] Kranidiotis to tour Middle East

    Athens, 12/77/1997 (ANA)

    Foreign Under-secretary Yiannos Kranidiotis will tour a series of Middle East capitals from July 15 to 20 "in the framework of Greece's desire to engage more actively in the Mideast peace process, both in the framework of EU initiatives as well as on a bilateral basis," a foreign ministry announcement said yesterday.

    Mr. Kranidiotis will successively visit Cairo, Alexandria, Beirut, Damascus and Amman, for talks with government officials.

    His visits also aim at upgrading bilateral relations with these countries, the announcement added. Mr. Kranidiotis will also meet church officials and representatives of the ethnic Greek communities.

    [06] Greek-Turkish friendship committee in Turkish National Assembly

    Istanbul, 12/7/1997 (ANA)

    A Greek -Turkish Friendship Committee has been established in the Turkish National Assembly, Anatolia news agency said yesterday.

    Head of the Committee and Democratic Left party deputy, Hakan Tartan, said the Greek-Turkish Friendship Committee aimed at establishing dialogue, and "permanent peace and love" between the two countries and would focus on political as well as social activities.

    "It is obvious that the problems and tensions between the two countries cannot be resolved through unilateral efforts," Mr. Tartan said.

    "Such efforts should be mutual," he added.

    [07] Turkey not ready for accession talks, EU report states

    Brussels, 12/7/1997 (ANA - M. Spinthourakis)

    Turkey's political and economic state at present does not allow for the opening of accession negotiations leading to European Union membership, according to the "Agenda 2000" report.

    Agenda 2000 is the as yet unreleased report by the EU committee on expansion, which is expected to be presented to the European Parliament on Wednesday.

    In referring to Turkey, the report says that despite the fact that it satisfies the standard features of a democracy, such as an elected government and a Parliament, Turkish administration cannot guarantee its adaptation to EU acquis, at least at present.

    In the first such reference in an official community text, the report also makes reference to the role played by the military in Turkey, saying that the role it played in the political and cultural system of Turkey is not the same as that played by armed forces in western democracies and societies.

    In terms of Greek-Turkish differences, the report mentions that tension in the Aegean can be overcome on the basis of international law and recourse to arbitration bodies, such as the International Court at The Hague.

    It also refers to the importance of Turkey's building good neighborly relations with Greece, rejecting every use of violence in solving differences and activating itself in order to find a permanent and just solution to the Cyprus issue, according to United Nations resolutions.

    [08] Simitis-Tzoumakas phone discussion focuses on Seikh Sou

    Athens, 12/77/1997 (ANA)

    Prime Minister Costas Simitis had a telephone conversation with Agriculture Minister Stephanos Tzoumakas yesterday concerning the massive fire at the Seikh Sou forest in Thessaloniki.

    Government spokesman Dimitris Reppas said there will be further consultations over the resignation of forestry Secretary-General Beriatos, while the issue will be settled in accordance with the allocation of responsibilities.

    Addressing a Cabinet meeting yesterday, Mr. Simitis advised ministers not to express their views publicly and give the impression of confrontations and, as Mr. Reppas stated, he referred in general to the issue of government officials' attitude in public on the occasion of the handling of the forest fires issue.

    Additionally, Mr. Reppas said Mr. Simitis announced to ministers that a cabinet meeting will be held on Aug. 1 and again on the first Friday after Aug. 20. In the meantime, he said, the government ministers can take their summer vacations.

    [09] Seikh Sou torching brings Israeli offer of assistance

    Athens, 12/77/1997 (ANA)

    The Israeli government advised Athens yesterday that it was willing to provide technical assistance in the project, offering to share its own experience in the reforestation and rehabilitation of devastated lands.

    The offer was conveyed through Israeli ambassador to Athens, Ran Kuriel, to officials of the agriculture ministry.

    Yesterday, Agriculture Under-secretary Vassilis Geranidis announced additional measures for the reforestation of Seikh Sou, rejecting all responsibility pertaining to firefighting efforts, saying he was only responsible for fisheries and stockbreeding issues.

    Mr. Geranidis said the measures include setting up a special task group to draw up a reforestation plan within the next 10 days.

    [10] Fires near Florina, Xilokastro under control

    Athens, 12/77/1997 (ANA)

    A forest very close to the northern border city of Florina caught on fire yesterday afternoon and was put under control after burning close to 30 hectares of forestland.

    The same area had been burned in 1988.

    The local forestry department believes the blaze was a result of arson.

    A forest fire that broke out near Xilokastro on Thursday was brought under control yesterday after destroying 300,000 sq. m. of farm and forest land.

    [11] Pangalos attends Israeli-Palestinian meeting near Athens

    Athens, 12/77/1997 (ANA)

    Foreign Minister Theodoros Pangalos yesterday called on Israelis and Palestinians to continue efforts for understanding each other's views in the Middle East peace process.

    Mr. Pangalos was addressing the end of a three-day, non-binding meeting between Israeli and Palestinian personalities, which was held at the Athens seaside district of Vouliagmeni following a Greek foreign ministry initiative.

    He expressed regret, however, that the gathering did not produce a joint communiqui, calling on both delegations to continue their efforts before they leave.

    "A basic condition for any development, especially for a solution to complicated problems, is the continuous effort to understand the views of the other side," he said.

    The non-binding meeting between the two sides began in Vouliagmeni on Wednesday. It was the product of a recent tour of the Middle East by Mr. Pangalos and Foreign Under-secretary Yiannos Kranidiotis.

    The meeting brought together academics, official representatives and other personalities from Israel and the Palestinian Self-Rule Areas.

    The inability to issue a joint communiqui was due, in part, to the Israeli side's desire for a simple reference supporting the continuation of the peace process, since the meeting was unofficial. On the other hand, the Palestinian side wanted to include specific references detailing what they view as causes leading to the impasse in the peace process, as well as the need to include a reference calling for an end to the building of Israeli settlements in the West Bank.

    Mr. Pangalos referred to the problems in the peace process at this time and noted that tension in the area made the Vouliagmeni meeting even more useful and timely.

    Greece has a long-standing and consistent policy of friendship and co-operation with both the Israeli and Palestinian people, he said.

    It is not worthy of our history and culture to be unable to find a solution to the problems we face, and prolonging the tension in the Middle East is harmful to all, Mr. Pangalos added.

    The meeting was coordinated by Theodoros Kouloumbis, a university professor and president of the Hellenic Foundation for Foreign and Defense Policy (ELIAMEP).

    [12] Greek institute to open in Tbilisi

    Athens, 12/77/1997 (ANA)

    An Institute for Ancient Greek, Byzantine and Modern Greek Studies is due to open after the summer in Tbilisi, it was announced yesterday.

    The Institute, to be housed in one of the most elegant buildings in the center of Georgia's capital, has been founded in co-operation with the Greek authorities and Georgia's scientific community.

    [13] IOC's Stankovic in Athens

    Athens, 12/77/1997 (ANA)

    "I am certain that if Athens stages the 2004 Olympic Games, they will be exceptional games for both the athletes and spectators," FIBA Secretary General and International Olympic Committee (IOC) member Borislav Stankovic said here yesterday.

    Mr. Stankovic arrived in Greece in an official capacity on Thursday to gain a first-hand opinion of Athens' bid to stage the 2004 Olympics. "I was very pleased with the presentation given to me by the Bid Committee. I think it was one of the best presentations I have ever had," Mr. Stankovic said.

    Commenting on Athens' bid dossier, Mr. Stankovic said it was characterized by great attention to detail.

    "In particular, the sports facilities and technical specifications are first class and the plan of the Olympic Village excellent," he said.

    [14] Greek ambassador holds talks in Podgorica

    Belgrade, 12/7/1997 (ANA - M. Mouratidis)

    The Greek ambassador to the Federal Republic of Yugoslavia, Panayiotis Vlassopoulos, concluded a two-day visit to Podgorica, the capital of Montenegro.

    Mr. Vlassopoulos held talks with government officials and opposition representatives both on bilateral issues and issues concerning the Yugoslav Federation and the current political crisis in the ranks of Montenegro's ruling Democratic Socialist Party.

    The Greek ambassador was accompanied by the commercial attachi, Ch. Farmakis.

    [15] Renewable Energy Sources conference in Thessaloniki

    Athens, 12/77/1997 (ANA)

    The utilization of Renewable Energy Sources (RES) is expected to produce spectacular results in supporting employment and regional development.

    According to European Union studies presented in Thessaloniki yesterday by Interior, Public Administration and Decentralization UN-dersecretary Tassos Mantelis, the development of RESs provides five times more jobs compared to conventional fuels.

    Speaking at a press conference on the occasion of a conference on the issue of "Renewable Energy Sources: New Opportunities for Development and Employment", held at the Thermi Cultural Center in Thessaloniki, Mr. Mantelis underlined this dimension of RES development, adding that the creation of new jobs primarily concerns non-urban areas where unemployment is at high levels.

    On the question of urban regions, its effects can also be positive in this direction there if bioclimatic architecture is implemented.

    Providing analytical data on the EU, Mr. Mantelis said RES contribute at present to the European Energy balance with a percentage of about 5.5 per cent, which is estimated as corresponding to about 110,000 jobs. Some 35,000 of these are direct jobs concerning building and installing, while in this sector 700 small and average-size enterprises are active. The target is to increase this figure to 12 per cent by the year 2010, thus creating about 600,000 new jobs.

    According to estimates by the "Group for the dissemination of RES", presided over by Mr. Mantelis, if the above target is achieved, 20 to 30,000 new jobs will be created in Greece, a figure equal to about 1 per cent of the country's labor force.

    Mr. Mantelis referred to the United States as an example where the implementation of energy saving programs led to the creation of 80,000 new jobs in 1992.

    [16] Aerospace medicine makes its debut in Athens

    Athens, 12/77/1997 (ANA)

    Olympic Airways will begin distributing brochures on precautions to be taken for passengers in special health categories, it was announced yesterday.

    The airline will distribute them on all flights, to warn pregnant women and people with high blood pressure, heart problems and respiratory ailments about health problems they may encounter while on flight.

    The initiative was announced during a press conference yesterday by the newly-founded Hellenic Society for Aerospace Medicine, where it was noted that of over one billion people traveling throughout the world annually, 25,000-30,000 present health problems during flights, such as nausea, extreme perspiration, dyspnoea and chest pains. Between the years 1977 and 1984, it said, 500 passengers died in-flight.

    Society president Chryssoula Kourtidou-Papadelis, a doctor specializing in pulmonary medicine, presented the new association and said it would host the first congress of aerospace medicine in Thessaloniki from Oct. 10 to 12.

    The congress will be held under the auspices of the Thessaloniki Cultural Capital Organization and participants will include Russian cosmonaut and physician Valerio Poliakov and two astronauts from the United States.

    [17] SEB, Gov't to organize Euro-Mediterranean Industrial Conference

    Athens, 12/77/1997 (ANA)

    The Federation of Greek Industries (SEB) has undertaken to organize the third Euro-Mediterranean Industrial Conference in co-operation with the development ministry and with support from the Union of Employers and Industrial Federations of Europe (UNICE).

    The Euro-Mediterranean Conference, due to be held in Athens on Oct. 6-7, is aimed at shaping positions on issues concerning Mediterranean industry, such as foreign investments and trade, modernization of small- and medium-size enterprises, energy as well as the environment, infrastructures, education and training.

    Conclusions to be reached at the conference will be presented by SEB's president and representatives of the European industrial federations at the corresponding session of industry ministers from the European Union and southern Mediterranean countries, to be held on Oct. 30-31.

    [18] GSEE leader satisfied with social dialogue

    Athens, 12/77/1997 (ANA)

    General Confederation of Workers of Greece President Christos Polyzogopoulos yesterday said he was satisfied with the course of the social dialogue.

    Speaking to reporters in Thessaloniki, Mr. Polyzogopoulos said the workers' representatives had managed to raise all crucial issues during the first phase of talks, while leaving out those issues which were of least interest to them.

    Mr. Polyzogopoulos emphasized the efforts by GSEE in assisting towards a positive outcome.

    [19] Laliotis approves funds for projects

    Athens, 12/77/1997 (ANA)

    A total of 3.5 billion drachmas was approved by the Environment, Town Planning and Public Works minister Costas Laliotis yesterday for road, flood prevention and sewage projects.

    The projects are in the prefectures of Thesprotia, Fokida, Arta, Ioannina and Preveza. A sewage project concerns a drain pipe for flood waters in the general area of Voula, Attica prefecture.

    [20] Tourism study claims drachma devaluation would increase arrivals

    Athens, 12/77/1997 (ANA)

    The drachma should be partly devalued against the currencies of Italy, Portugal and Spain, if the downward trend in tourist arrivals to Greece is to be reversed, according to the Institute for Tourism Research and Forecasts (ITEP).

    In a report on foreign exchange policy and its repercussions on tourism, which was released yesterday, ITEP attributed the drop in tourist arrivals to what it called the overvaluation of the drachma against the currencies of Greece's EU rivals in the sector.

    ITEP claimed that a possible devaluation of the drachma by 10 per cent would increase arrivals by 10.33 per cent.

    According to ITEP, reduced arrivals during the 1992-1995 period resulted in a loss of income for the nation calculated at US$2.5 billion dollars, as well as a loss in jobs.

    The report also listed a series of favorable prospects of development for Greek tourism, as long as the nation's sector took advantage of opportunities offered by the improved economy of eastern European states, along with improving its infrastructure and adopting a more flexible foreign currency policy. If these goals are met, the report stated, tourist arrivals will rise to between 11 to 12.6 million by 2000 and 14 to 14.9 million in 2005.

    [21] Latest development plan for eastern Macedonia, Thrace announced

    Athens, 12/77/1997 (ANA)

    New eastern Macedonia and Thrace regional governor Stavros Kambelis announced a 10-year plan for the development of the region during a press conference in Komotini yesterday.

    "It will be a plan for the development of the region, for the principles and targets in all sectors of political and cultural life," he said.

    Resources will be obtained from national and EU funds to implement the 10-year development plan, which will cover the entire spectrum of activities in the region of eastern Macedonia and Thrace. Additionally, Mr. Kambelis will appeal to the private sect or to also contribute.

    [22] Funding for second section of Patra port allocated

    Athens, 12/77/1997 (ANA)

    By decision of Environment, Town Planning and Public Works Minister Costas Laliotis, credits amounting to 7.5 billion drachmas have been allocated for construction of the second section of the new port in Patra.

    The project includes construction of a 400-meter-long breakwater, while the first section of the new port, budgeted at 13 billion drachmas, has already been awarded. This project includes a breakwater some 900 meters long.

    The port of Patra constitutes the western gateway of the country, and is jointly funded by the European Union's INTERREG II program.

    [23] OTE telephony revenues increase

    Athens, 12/77/1997 (ANA)

    Revenues of the Hellenic Telecommunications Organization (OTE) increased by 14.95 per cent in the second two-month period of 1997 compared to the corresponding period last year.

    Telephone calls increased by 16.16 per cent over the same period compared to last year, the utility announced.

    Revenues from telephony increased 14.12 per cent over the first two months of the year - January and February.

    [24] Silver and Baryte investment in Bulgarian mines

    Athens, 12/77/1997 (ANA)

    A new joint company was formed between Greece's Silver and Baryte, its subsidiary in Bulgaria Gramex, and Gramex's other owner, Royal Gold, to carry out gold and copper prospecting in two areas of the neighboring country.

    The new company is named Sofia Mineral Ltd., or SOMIN, and is also partially owned by Phelps Dodge.

    One area is in southeast Bulgaria and covers 2,645 sq. km, while the other, in the northern part of the country, covers 600 sq. km, close to the Chelopec company's copper and gold mines.

    [25] Greek stocks end higher, reach for 1,600 pt.

    Athens, 12/77/1997 (ANA)

    Greek equities ended the week higher, propelling the general index towards the 1,600 psychological level once more.

    The share index closed 1.02 percent higher at 1,591.44 points, reflecting major gains in the banking and industrial sectors, up 0.88 and 1.87 percent respectively. The market showed a 5.10 percent gain on the week.

    Trading was moderate and turnover was 13.6 billion drachmas.

    Most other sector indices scored gains. Leasing was 1.56 percent up, Insurance rose 0.41 percent, Investment increased 1.02 percent, Construction rose 0.64 percent, Miscellaneous jumped 2.40 percent, but Holding bucked the trend to end 0.38 percent down .

    The small cap index eased 0.59 percent.

    Broadly, advancers led decliners by 131 to 73 with another 29 issues unchanged.

    Klonatex, Benroubi, Parnassos and Demetriades scored the biggest percentage gains, while Papastratos, Ionian Hotels and Bank of Central Greece suffered the heaviest losses of the day.

    National Bank of Greece ended at 35,885 drachmas, Ergobank at 17,740, Alpha Credit Bank at 19,005, Titan Cement at 15,150, Intracom at 13,290 and Hellenic Telecommunications Organization at 6,440 drachmas.

    [26] Greece helps Cyprus expand its EU business presence

    Athens, 12/77/1997 (ANA)

    Greece can help Cyprus to expand its business presence in the European Union until the island, which already has customs union with the 15-nation bloc, gains full membership.

    "Greece is a key base to develop activities by Cypriot firms in the broader European economic area. Its presence and experience in EU countries can aid Cypriot business decisively," Greece's economic and commercial attachi in Nicosia Chrysanthi Passadi, said.

    Athens has worked hard on a political and diplomatic level to promote Cyprus' entry into the EU, and talks with Brussels on full membership are due to begin by early next year.

    "Greece's assistance can help Cypriot firms to secure easier access for their products and services in Community markets, maximize the benefits, and better utilize the advantages," Ms. Passadi told the Athens News Agency in an interview.

    Greece ranks fourth among countries exporting to Cyprus, accounting for 7.21 percent of the value of the island republic's imports in 1996 against 7.18 percent in 1995 and 6.81 percent in 1994.

    Trade between the two countries has marked a rising trend in recent years, totaling 171.6 million Cyprus pounds in 1996 from 153.4 million in 1995, and 136.9 million in 1994, Ms. Passadi said.

    Cypriot exports to Greece, the island's fourth largest foreign market, were 37.6 million Cyprus pounds in 1996 from 33.4 million a year earlier.

    Athens and Nicosia were keen to encourage strategic corporate alliances between firms of the two countries through bilateral agreements, Ms. Passadi said. A co-operation memorandum signed in 1996 by Greece's national economy ministry and the Cypriot planning bureau-finance ministry had been expanded in order to step up contacts and alliances, she said. Broader economic ties also were growing in the sectors of agriculture, transport, tourism, banking and other services.

    Co-operation between the two countries' stock exchanges was likely to spur co-operation in finance, she said.

    The goal was to develop a powerful Greek-Cypriot business network equipped with organizational, institutional, technical and financial back-up to enable firms to penetrate markets in third countries by setting up consortiums, especially for construction projects.

    Cyprus, which has evolved into an international transit and services centers, could help Greek enterprises to penetrate Middle Eastern and African markets.

    "The effort is a joint one, and only jointly can we meet the challenge (of new international opportunities) with success," Ms. Passadi said.

    [27] Poor regions protected in EU expansion plans

    Brussels, 12/7/1997 (Reuter/ANA)

    Poor regions of the European Union, mainly in Spain, Portugal, Greece and Ireland, will continue to be eligible for up to 21 billion ECU's ($23.5 billion) in regional and other aid between 1999 and 2006, EU sources said yesterday.

    They said that the 20 EU commissioners, meeting in secret conclave on Thursday, agreed that member states whose gross national product is less than 90 percent of the EU average will continue to benefit even if they qualify for the EU single currency.

    Some powerful factions within the EU's executive commission had tried to exclude Spain, Ireland and Portugal from the fund because they are likely to meet criteria for joining the new currency, the Euro, in 1999.

    It was argued that if those countries were strong enough financially to meet the tough single currency membership conditions, they did not need special EU aid from the so-called "cohesion fund".

    But Spain and the other three countries warned they would block any attempt to cut off the aid, saying that the terms for economic and monetary union and the cohesion fund were separate issues.

    They received powerful support within the Commission from the EU's social affairs and regional commissioners, Padraig Flynn and Monica Wulf-Mathies, who swung support in favor of extending the existing rules. But the aid level would be gradually reduced. The future of the cohesion fund, which was set up in 1992 to help poorer regions catch up with the rest o f the EU, was the main outstanding issue in plans to fund the EU's expansion eastwards.

    The plans are due to be agreed next Tuesday and presented to the European Parliament in Strasbourg the following day.

    The prospective first wave of new EU members -- Hungary, Poland, the Czech Republic, Cyprus, Estonia and Slovenia -- would benefit from 45 billion ECU's of regional, social and agricultural aid between 1999-2006 to prepare for membership. ($ = 0.893 European Currency Units, ECU's)

    End of English language section.


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