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Athens News Agency: Daily News Bulletin in English, 97-09-19

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 1293), September 19, 1997

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


CONTENTS

  • [01] Athens to bring up all issues affecting Greek-Turkish relations, Pangalos says
  • [02] Solana initiative
  • [03] ... State Dept.
  • [04] Stations to begin monitoring Evros River pollution
  • [05] Premier: Gov't determined to implement 'Kapodistrias' plan
  • [06] ... ND response
  • [07] Pangalos reiterates Cyprus' call for demilitarization
  • [08] EU Luxembourg presidency applauds upcoming Clerides-Denktash meeting
  • [09] ... Europarliament
  • [10] Vartholomeos to meet Alexiy during Black Sea conference
  • [11] Ancient Dodoni theater to receive funds for works
  • [12] PASOK executive bureau covers draft resolutions for central committee
  • [13] Karamanlis calls for mass media code of ethics
  • [14] Gov't: Document referred to in Liani-Papandreou book fake
  • [15] ... Niles calls controversial document "a joke"
  • [16] Oreja says Athens 2004 Olympics a European event
  • [17] AEK sold to British multinational Richmond
  • [18] European Cup Winners' victory
  • [19] UNESCO conference on environment ends
  • [20] Democratic institutions examined in one-day seminar
  • [21] Gov't fires all personnel hired after July 31, 1997
  • [22] V. Papandreou briefs Bakoyianni on development issues
  • [23] IOBE study says Olympic's dominance, future threatened
  • [24] Negotiations continue on Burgas-Alexandroupoli pipeline
  • [25] Development ministry initiative to contain inflation
  • [26] Greece's Titan Cement eyes Serbian producers
  • [27] Greek, Korean commerce officials to hold talks in Athens
  • [28] Greek stocks recover after pummeling by profit-takers
  • [29] Imports trample Greek shoe manufacturers
  • [30] Thessaloniki trade fair to launch sector presentations
  • [31] General Bank underlines interest in wider market
  • [32] EU-organized SME conference in Larisa

  • [01] Athens to bring up all issues affecting Greek-Turkish relations, Pangalos says

    Athens, 19/09/1997 (ANA)

    Athens to bring up all issues affecting Greek-Turkish relations, Pangalos says

    Foreign Minister Theodoros Pangalos said yesterday that Greece will bring up the gamut of issues affecting relations between Athens and Ankara at his New York meeting next week with Turkish counterpart Ismail Cem.

    Speaking to reporters, Mr. Pangalos said that there had been no proposal for US Secretary of State Madeleine Albright to sit in on the talks and that the meeting with Mr. Cem had been agreed to nearly a month earlier, at the latter's request.

    "I will be having bilateral meetings with many of my counterparts on the sidelines of the UN General Assembly in New York, including one with US Secretary Madeleine Albright," Mr. Pangalos said.

    "If there is a proposal (for a tripartite meeting), we will see if it can be useful," Mr. Pangalos added. Mr. Pangalos said Greece would bring up all the bilateral issues to the table at his meeting with Mr. Cem, stressing that "the issue is not only whether we stick to the 'spirit' of Madrid (a communiqui on relations between the two countries) but also to the letter."

    "The joint communiqui says there should be no threat of war between the two countries and that Greece and Turkey commit themselves to respecting international law and prevailing treaties," Mr. Pangalos said.

    The outstanding issue, he said, was the way in which these commitments could be implemented, adding that since there appeared to be disagreement on how, then "some legitimate and internationally recognized intervention" must be entrusted with the implementation.

    "This could be the International Court of Justice at The Hague," Mr. Pangalos said.

    Referring to Turkey's hesitation to take its dispute of Greek sovereignty over the eastern Aegean islet of Imia to The Hague, Mr. Pangalos said:

    "When the Greek government indicates to Turkey that it should seek recourse to The Hague it is helping it, giving it (Turkey) a way out of the problem. It's not what we want - the best for us would be for Turkey to say 'we were wrong' and to end the issue.

    "Turkey is accountable to the international community because it has not accepted the Law of the Sea (treaty) and the jurisdiction of the International Court of The Hague," Mr. Pangalos continued. The lack of action on Turkey's part on the issue of Imia was linked to the issue of EU financing for the neighboring country, Mr. Pangalos reiterated.

    "When the prerequisites have been met, in other words, a Turkish statement regarding intent to seek recourse to The Hague over this issue, then there will be a lifting of (restrictions) of the financing protocol.

    "This will open the way for us to proceed to the essence of the problems and the essence is the start of negotiations on the agreement to refer the dispute over the (Aegean) continental shelf to arbitrators," he added.

    He clarified that as long as the Imia issue remained pending, it was "premature" to discuss formally upgrading Turkey's relations with the European Union.

    The foreign minister said a two-member Greek committee of experts appointed to record Greek-Turkish difference would be sending a memorandum within the week but that a face-to-face meeting with the respective Turkish committee was still up for discussion.

    "The Greek position is that (the meeting) should occur if and when it is clear what is to be discussed. We propose specific issues of a procedural and legal nature which the experts should discuss. We do not however accept a general discussion on Greek- Turkish issues, as it appears the Turks do. That is what I will do with Mr. Cem," Mr. Pangalos said

    [02] Solana initiative

    Athens, 19/09/1997 (ANA)

    Mr. Pangalos also revealed that NATO Secretary General Javier Solana had submitted a new package of measures designed to reduce tension in the Aegean which the Greek government was presently studying. "We will respond by the end of the month," Mr. Pangalos said, without giving further details.

    "Greece," he said, "wants to transform the Aegean into a sea of peace and does not desire the escalation of tension.

    "However, it is not prepared to legitimize arbitrary Turkish views and claims on the region," he said. "If we can deal with the problems in the Aegean and there is a climate of confidence between the two countries," Mr. Pangalos said, "then we can begin examining the reduction of tension in regard to the armaments of the two countries."

    Greece's foreign policy goals, he added, remained the same: Greece's equal participation in the European Union; and playing a leading role in the pursuit of peace and progress in the Balkans.

    In a related development, Mr. Solana said war between Greece and Turkey is inconceivable, in reply to a question by the Athens News Agency (ANA) yesterday.

    "I cannot conceive war between two NATO member-states. I cannot conceive this possibility," he said, adding that he is optimistic over the prospect of an improvement in Greek-Turkish relations.

    Mr. Solana is in Washington where he has already met with US Defense Secretary Bill Cohen and Ms Albright.

    Commenting on efforts being made by NATO for an improvement in Greek-Turkish relations, Mr. Solana said "I started a discreet round of talks with Greece and Turkey which was concluded in July and we had a partial success. We are trying to start again in the coming weeks and continue to work on confidence-building measures and we will try to offer what we can there."

    Mr. Solana disclosed that on the sidelines of the UN General Assembly in New York next week, he will be meeting twice with the foreign ministers of Greece and Turkey and will have the opportunity to discuss NATO's initiative with them.

    He said a tripartite meeting between himself, Mr. Pangalos and Mr. Cem is not anticipated.

    Lastly, replying to a question on the application of the system for monitoring air traffic in the Aegean, Mr. Solana said that the measure is being applied with the common consent of both countries.

    [03] ... State Dept.

    Washington, 19/09/1997 (ANA)

    On his part, US State Department spokesman James Rubin reiterated yesterday that Washington is willing to contribute actively in improving Greek-Turkish relations.

    Replying to a press question, Mr. Rubin said that Ms Albright "was satisfied with the efforts she made in Madrid" that culminated in a communiqui between Greece and Turkey, and "she would like to see improvements in that relation and a solution to issues, such as that (of Imia)".

    Referring to a possible meeting between Ms Albright and the Greek and Turkish foreign ministers, Mr. Rubin said that it was too early to speak, "but we always want to be in a position to hold meetings between allies and help them solve these issues".

    [04] Stations to begin monitoring Evros River pollution

    Athens, 19/09/1997 (ANA)

    Two stations to monitor the quality of water in Evros River will be set up at Gemisti and Dikea sites, with results forwarded to the Evros prefecture.

    The stations will be established following concern about polluted runoff emanating from plants in Bulgaria that use the river to dispose of toxic or waste material.

    The stations are expected to begin operation in October and turn out results on a daily basis.

    Future plans include a link-up of the stations with the environment ministry in Athens.

    [05] Premier: Gov't determined to implement 'Kapodistrias' plan

    Athens, 19/09/1997 (ANA)

    The government is determined to proceed with far-reaching changes to the structure and organization of local and regional governments, Prime Minister Costas Simitis underlined yesterday.

    Mr. Simitis was speaking after a two-hour visit to the interior ministry, where he held talks with Minister Alekos Papadopoulos, Under-secretary Lambros Papadimas and other ministry officials.

    Mr. Simitis dismissed criticism of the "Ioannis Kapodistrias" plan to merge small communities and villages, telling reporters there would be no changes to the bill since there had been extensive co-operation between the environment, town planning and public works ministry and organizations representing local communities, municipalities and regions.

    "The more effective municipalities that will result (from the plan) are the only way towards a more effective public administration," he said.

    "We are the last country in Europe to undertake these reforms," he said, adding that the new system would contain wasteful spending and be more representative and democratic.

    [06] ... ND response

    Athens, 19/09/1997 (ANA)

    On his part, main opposition New Democracy party spokesman Aris Spiliotopoulos issued an announcement criticizing Mr. Simitis for his statements on community mergers.

    "Unfortunately, instead of being skeptical over the reaction of the majority of the Greek people, he resorted to the known and permanent tactic of mudslinging against ND to cover the fact that the coercive character of this decision serves solely petty party expediencies, with the real purpose of PASOK taking over local self-administration completely," Mr. Spiliotopoulos said.

    [07] Pangalos reiterates Cyprus' call for demilitarization

    Athens, 19/09/1997 (ANA)

    Foreign Minister Theodoros Pangalos said yesterday that Cyprus was interested in the demilitarization of the divided island republic and not in "frenzied armament".

    Referring to this week's announcement by US Secretary of State Madeleine Albright that Cypriot President Glafcos Clerides and Turkish Cypriot leader Rauf Denktash had agreed to face-to-face talks on security issues, Mr. Pangalos said the talks were separate and unconnected to a resolution of the Cyprus problem.

    "Denktash has agreed to begin this dialogue but we have to see up to which point he is prepared to go and, likewise, if and how he will be able to uphold any decisions," he told reporters.

    "President Clerides, for example, is the head of the National Guard. Denktash is not the head of the Turkish occupation forces, thus, at some point in time he may declare an inability to take any decision," Mr. Pangalos said.

    Asked about the participation of Turkish Cypriots in upcoming EU accession negotiations with Cyprus, Mr. Pangalos said Mr. Denktash had repeatedly declared his opposition to Cyprus joining the European Union and that the Turkish Cypriot community had first to accept in principle Cyprus' accession, adding that there had been many proposals on the community's participation brought forward and that the legitimate body to decide was the Cypriot government.

    [08] EU Luxembourg presidency applauds upcoming Clerides-Denktash meeting

    Brussels, 19/09/1997 (ANA - M. Savva)

    The European Union's Luxembourg presidency lauded the agreement reached between Cyprus President Glafcos Clerides and Turkish Cypriot leader Rauf Denktash to meet and discuss security issues.

    An announcement issued by the foreign ministry of Luxembourg after the meeting between European officials and the US State Department's special coordinator on Cyprus, Thomas Miller, expressed satisfaction by the "15" over the efforts by Washington.

    It also expressed the hope that with this agreement tensions will be smoothed out in Cyprus, confidence will be strengthened between the two sides and a positive climate will be promoted to enable a resumption of negotiations under the auspices of the U N.

    Both the officials of Luxembourg and Mr. Miller stressed their particular interest in the achievement of a political solution to the Cyprus issue and agreed to co-operate closely to this end. Mr. Miller had his first contact as US special coordinator on Cyprus with the EU Commissioner Hans van den Broek yesterday.

    [09] ... Europarliament

    Strasbourg, 19/09/1997 (ANA - H. Haralambopoulos)

    The European Parliament yesterday adopted a common draft resolution by Eurodeputies from all political groups which is co-signed by the Greek Eurodeputies Costas Hatzidakis (New Democracy), Mihalis Papayiannakis (Coalition of the Left and Progress) and Yiannis Theonas (Communist Party of Greece), denouncing as illegal, provocative and contrary to the creation of a good negotiating climate in negotiations, the statement signed by Turkey and the illegal regime in the occupied territory in the Republic of Cyprus which threatens with the annexation of the occupied part of the island to Turkey.

    The Parliament expresses strong concern in its resolution over all the statements by Rauf Denktash concerning war in Cyprus if its application for accession to the EU proves successful and calls for their revocation and deplores the condition set by Rauf Denktash for the progress of direct talks, namely, a "freeze" on accession negotiations with Cyprus.

    [10] Vartholomeos to meet Alexiy during Black Sea conference

    Istanbul, 19/09/1997 (ANA - A. Kourkoulas)

    Ecumenical Patriarch Vartholomeos will meet Patriarch of Moscow and All Russia Alexiy in Odessa on Sept. 24, an announcement from the Patriarchate said yesterday.

    The meeting will take place on the sidelines of an international conference beginning today in Trabzon and entitled "Religion, Science and Education", which will touch in major ports around the Black Sea.

    The main focus of the conference is the environmental problems of the Black Sea basin. It is hoped to turn the meeting into a forum for proposals on reviving the region's ecosystem.

    It is under the auspices of the Ecumenical Patriarch and European Commission President Jacques Santer. Greece will be represented by Under-secretary of the Environment, Town Planning and Public Works Theodoros Koliopanos, who is leaving for Trabzon today .

    The conference will end on Sept. 28, after having stopped at major ports around the Black Sea - Trabzon, Odessa, Batumi, Constanta and Varna, including a stop in Thessaloniki.

    Georgian Church leader Patriarch Elias is expected to join the floating conference once the ship reaches Batumi, Romanian Patriarch Theoctistus at Constanta and Bulgarian Patriarch Maximus at Varna.

    [11] Ancient Dodoni theater to receive funds for works

    Athens, 19/09/1997 (ANA)

    The ancient theater of Dodoni, in Epirus, will receive an infusion of funds to reconstruct, stabilize and promote it as a site along with its surroundings, the culture ministry announced yesterday.

    A five-year contract was signed between the ministry, the prefecture of Ioannina and the Archaeological Fund.

    More such contracts are expected to follow for other ancient theaters around Greece.

    [12] PASOK executive bureau covers draft resolutions for central committee

    Athens, 19/09/1997 (ANA)

    Prime Minister Costas Simitis chaired a meeting of PASOK's executive bureau yesterday, which focused on draft resolutions to be presented to the party's central committee today and tomorrow.

    According to a statement by PASOK Secretary Costas Skandalidis, the draft resolution concerning the political framework and strategy in light of municipal and prefectural elections, as well as the process for selecting persons, was met with absolute unanimity by the executive bureau members.

    The other draft resolution concerning national issues will be publicized today because, as he said, although there was no overall disagreement, there were individual observations made also regarding the wording of the Madrid communiqui.

    According to reports, the text on foreign policy issues refers, among others, to that PASOK and the government must proceed with necessary readjustments in the way of shaping and exercising foreign policy with immovable strategic targets, since the strategic target is a strong Greece.

    On the issue of the Former Yugoslav Republic of Macedonia (FYROM), it was mentioned that following the interim agreement relations showed an improvement but, it was added, FYROM must contribute towards the finding of a solution to continuing negotiations in New York on the issue of the state's name.

    Regarding Greek-Turkish relations, it was noted that a specific strategy exists both at the level of deterrence and the level of diplomatic vigilance and after referring to strong condemnations of Turkish aggressiveness made already it stresses that the international climate has improved in relation to the past and there is support for Greek positions.

    The Cyprus issue is termed the paramount national issue and it is pointed out that mobility on the issue does not favor Turkey's strategy which desires permanent status for faits accomplis. It was stated at the same time that Greece supports the proposal for full demilitarization, but it was stressed that for as long as the Turkish side defies every concept of international legality, Cyprus has the elementary duty to make necessary defense preparations.

    [13] Karamanlis calls for mass media code of ethics

    Athens, 19/09/1997 (ANA)

    Main opposition New Democracy leader Costas Karamanlis yesterday called for the composition of a code of ethics for mass media that will be accepted by all broadcasters, as well as institutional support for the National Radio-Television Council (ERS).

    Mr. Karamanlis made the statements after meeting with members of the ERS council.

    He attributed responsibilities for the current state of mass media to all previous governments and said the "radio-television landscape should be put into order." The ND leader also called for a upgrade in quality, while mentioning his party's interest in the ERS council.

    [14] Gov't: Document referred to in Liani-Papandreou book fake

    Athens, 19/09/1997 (ANA)

    The government yesterday said documents referred to in a forthcoming book by the widow of late former prime minister Andreas Papandreou were "obviously fake".

    "The falseness of these documents was obvious from the first moment they appeared in public," government spokesman Demetris Reppas said.

    He was referring to documents cited in press excerpts of a forthcoming book by Demetra Liani-Papandreou about her life with the late founder of ruling party PASOK.

    The existence of a piece of paper in some archive does not mean it is a genuine document, Mr. Reppas added. "This government is not going to concern itself with fake papers or with gossiping about marginal issues," he said.

    He also denied outright claims that the government was involved in any efforts to prevent the publication of the papers.

    [15] ... Niles calls controversial document "a joke"

    Athens, 19/09/1997 (ANA)

    In a related development, outgoing US ambassador to Greece Thomas Niles was asked yesterday to comment on the controversial "non-paper", which allegedly describes a meeting between Prime Minister Costas Simitis with US President Bill Clinton in Washington last year.

    Mr. Niles commented after a meeting with main opposition New Democracy (ND) leader Costas Karamanlis, as part of his contacts before leaving the Athens post.

    The "non-paper" has surfaced with the coming publication of a book of memoirs by Ms Liani-Papandreou.

    Mr. Niles said the document was a joke.

    "It's obvious that this document was not written by someone who knows the English language. After all, we (in the United States) do not draft such documents after such meetings as the one I saw published in the magazine Nemesis. For me, it's really a joke," he said.

    [16] Oreja says Athens 2004 Olympics a European event

    Brussels, 19/09/1997 (ANA - M. Savva)

    The first Olympiad of the third millennium - the 2004 Olympic Games in Athens - will be organized in an exceptional manner, and the European Union has a role to play in that area, European Commissioner Marcelino Oreja of Spain and Athens Mayor Demetris Avramopoulos agreed yesterday in Brussels.

    "What city, other than Greece, could undertake the first Olympiad of the third millennium?," Mr. Oreja, who holds the portfolio for culture, athletics and mass media, told the visiting mayor.

    "Athens will represent Europe, and Europe must organize an exceptional cultural Olympiad in tandem," Mr. Oreja, whose country hosted the 1992 Olympic Games (in Barcelona), said.

    Mr. Avramopoulos proposed a meeting of the mayors of all capitals which have held the title of Cultural Capital of Europe to take place in Athens after May, with the prospect of setting up a standing committee that would meet regularly under the aegis of the EU, a proposal warmly received by Oreja with respect to the cultural aspect of the 2004 Olympics.

    Mr. Oreja said he was now waiting for a Greek memorandum on the issue, for advancement of preparations of the cultural side of the 2004 Olympics.

    [17] AEK sold to British multinational Richmond

    Athens, 19/09/1997 (ANA)

    AEK Athens, one of Greece's most historic first division football clubs, was sold to British multinational Richmond yesterday after months of negotiations.

    The agreement was signed yesterday morning after a marathon 16-hour meeting, according to the controversial president of the Athens-based SOE investment group, which was the popular club's major shareholder.

    "We achieved an exceptional agreement," SOE president and founder Michalis Trohanas said, adding that the two sides have decided to keep the terms confidential.

    He said formal announcements would be made by AEK's new owners "when they have fully prepared to take over the club's administration".

    AEK was founded in 1924 in the Nea Philadelphia municipality northwest of downtown Athens by mostly ethnic Greeks from Constantinople (present-day Istanbul) and has a share capital of one billion drachmas.

    It has won 11 Greek league championships and 10 cups, including two doubles and two super-cups. AEK is the only Greek football club to have reached the quarter-finals in all three European tournaments (Champions' League, UEFA and Cup Winners Cup).

    According to sources, the transaction was worth around 2.7 billion drachmas.

    [18] European Cup Winners' victory

    Athens, 19/09/1997 (ANA)

    Meanwhile, on the playing field in Athens yesterday, AEK easily defeated Dinaburg of Latvia 5-0 in the first leg of their European Cup Winners' matchup.

    [19] UNESCO conference on environment ends

    Athens, 19/09/1997 (ANA)

    An international congress on ecology entitled "Mediterranean 2000", organized by the UNESCO chapter in the Dodecanese, came to a close on the island of Tilos late Wednesday with a reading by baritone John Modenos of poems on the Aegean by several Greek poets.

    Events on the last day included a retrospective by a colleague of the late oceanographer and explorer Jacques Cousteau as well as a film by the Cousteau group with music by Vangelis, which was screened in Europe for the first time. It had been shown again during the Rio conference on the environment in 1992.

    The conference was attended by close to 600 people.

    [20] Democratic institutions examined in one-day seminar

    Athens, 19/09/1997 (ANA)

    A one-day seminar on "Promoting Good Governance: Consolidation and Modernization of Democratic Institutions" was held at the foreign ministry yesterday.

    The conference examined the problems facing countries in a transition from one type of government to another, such as central and eastern European countries.

    It was organized by the United Nations Development Program (UNDP) and the Institute of International Relations of Panteion University.

    [21] Gov't fires all personnel hired after July 31, 1997

    Athens, 19/09/1997 (ANA)

    All people hired in the public sector after July 31, 1997 under any term of contract are dismissed, while officials of 34 public utilities and organizations who have proceeded with illegal hirings are being summoned to a prosecutor, the government said yesterday.

    This was announced in Parliament during a discussion on a draft bill expanding a law on hirings in the public sector.

    Under Greek law, all new hirings in the public sector must be approved by ASEP, a state commission responsible for announcing positions, setting criteria and approving hirings. ASEP has put a freeze on public sector hirings, making all hirings illegal after a certain date.

    The decision was also agreed upon by the opposition, whose suggestions were taken into account by Interior, Public Administration and Decentralization Minister Stavros Benos.

    The public sector companies that have been illegally hiring people include the Greek Post Offices (ELTA), Olympic Airways (OA), the National Tourism Organization (EOT), the National Opera, communities, technical schools, universities, hospitals and others.

    [22] V. Papandreou briefs Bakoyianni on development issues

    Athens, 19/09/1997 (ANA)

    Development in Greece was an important issue that the main opposition party New Democracy (ND) should participate in, with proposals and criticism, Development Minister Vasso Papandreou said yesterday.

    She was speaking after a meeting with ND Deputy Dora Bakoyianni, whom she had invited to exchange views after the deputy became head of ND's sector on issues of development.

    "Development is a very important issue and is related to all of us. In this sector the main opposition party can and should play a significant role by its criticism, its proposals, and we believe that it will play this role, which it had not played so far," the minister said.

    Ms Bakoyianni explained that "I don't believe any of us is especially happy with the situation existing right now in Greece's development. We all hope for a better future. On our part, as ND, we shall follow closely the work of the ministry and make proposals".

    "Wherever there is agreement in views, we won't have any problem admitting it, wherever there are different views, we shall declare them," she added.

    The meeting was attended also by Development Undersecretaries Michalis Chrysohoidis and Anna Diamantopoulou, the secretaries general of energy and industry, and the ND deputy in charge of the party's industry sector, G. Salagoudis.

    [23] IOBE study says Olympic's dominance, future threatened

    Athens, 19/09/1997 (ANA)

    The development of competition in the air transport sector from the establishment and operation of new Greek airline companies will signal the end of state-owned Olympic Airway's monopoly. This resulted from a decrease in tariffs on certain routes and an increase in overall passenger travel and the existence of more options for domestic consumers.

    These conclusions were drawn in the latest study by the Foundation for Economic and Industrial Research (IOBE). On the question of Olympic, it was pointed out that despite implementation of a restructuring program, the state carrier is facing a series of problems and challenges which, if not handled quickly and effectively, will jeopardize its long-term survival.

    Referring to developments in the sector of newly established private companies, the report said that these companies were faced with lack of experience from the start of their operation and protectionism in favor of the national carrier.

    [24] Negotiations continue on Burgas-Alexandroupoli pipeline

    Sofia, 19/09/1997 (ANA/AFP)

    Petroleum company officials from eight countries met here yesterday to exchange views on an ambitious plan to transport crude oil through a pipeline starting from the Caspian Sea region to the north Aegean port of Alexandroupoli.

    Participants from Russia, the Ukraine, Romania, FYROM, Albania, Bulgaria, Turkey and Greece met to discuss further plans of a program that was first agreed on in Moscow in 1995.

    The project has estimated that the first leg of the pipeline would pump up to 40 million tons of Russian oil from the Caspian to the Black Sea port of Novorosiisk.

    The second leg would include sea transport to Burgas, Bulgaria, and from there to Alexandroupoli by a second pipeline.

    The estimated cost for infrastructure at Burgas and Alexandroupoli is more than US$306 million.

    [25] Development ministry initiative to contain inflation

    Athens, 19/09/1997 (ANA)

    The development ministry will embark immediately on branch national agreements to contain inflation's upward trend.

    The agreements will be pursued, apart from producers and merchants as was the case to date, in other classes of professionals as well.

    According to an announcement by Development Under-secretary (commerce sector) Mihalis Chrysohoidis, discussions will get underway with doctors, lawyers as well as other professionals and technicians.

    The purpose of the meetings is to reach agreements on tariff increases in all sectors at levels below inflation to enable the government's target of a 3 per cent inflation rate at the end of 1998 to be achieved.

    [26] Greece's Titan Cement eyes Serbian producers

    Belgrade, 19/09/1997 (ANA - M. Mouratidis)

    Titan Cement SA, a major Greek cement manufacturer and exporter, has expressed interest in cooperating with Serbian cement firms after the government launched a privatization program for the industry.

    Titan executives accompanied by Greek ambassador to Belgrade, Panagiotis Vlassopoulos, visited Serbian Minister for Economic Reform and State Property Milan Beko to discuss the plan.

    Mr. Beko said that Serbia's government intended to create favorable conditions for co-operation between companies from both countries.

    He cited investments by Hellenic Telecommunications Organization in his country as an example of co-operation, saying it had created a bridge of confidence between Serbia and Greece.

    [27] Greek, Korean commerce officials to hold talks in Athens

    Athens, 19/09/1997 (ANA)

    Officials of the International Commerce Association of South Korea will visit Athens on October 2-5 for contacts with Greek businessmen.

    The visit, arranged by the Athens Chamber of Commerce and Industry, is intended to forge closer commercial links between the two countries.

    [28] Greek stocks recover after pummeling by profit-takers

    Athens, 19/09/1997 (ANA)

    Greek equities came under early profit-taking to end moderately lower on the Athens Stock Exchange.

    Traders said the market became nervous every time it approached the 1,700 level.

    The general index closed 0.47 percent lower at 1,683.59 points, with most sector indices losing ground. Banks fell 1.32 percent, Leasing dropped 0.53 percent, Investment was 0.23 percent off, Industrials fell 0.14 percent, Construction eased 0.02 percent, Holding fell 0.20 percent and Miscellaneous dropped 1.40 percent. Insurance bucked the trend to end 2.28 percent higher.

    Trading was heavy and turnover was 22.7 billion drachmas.

    Broadly, decliners led advancers by 131 to 93 with another 18 issues unchanged.

    Pavlides, Boutaris, Zampa, Vis and Ermis scored the biggest percentage gains, while Bank of Athens, Doudos, Esha and Klonatex suffered the heaviest losses. National Bank of Greece ended at 33,950 drachmas, Ergobank at 18,050, Alpha Credit at 19,990,

    Delta Dairy at 4,285, Titan Cement at 16,480 and Intracom at 14,300. Hellenic Telecommunications Organization recovered to end at 6,730, up 80 drachmas.

    [29] Imports trample Greek shoe manufacturers

    Athens, 19/09/1997 (ANA)

    The Greek shoe and leather manufacturing industry yesterday urged the government to rescue a sector which faces hardship, and take measures to ensure growth.

    The industry called for drastic import controls, the creation of export promotion centers and a new development policy for the sector.

    According to figures presented by the industry's association, 45 percent of sector manufacturing firms closed in 1985 to 1995, leaving just 1,470 firms from 2,268.

    Annual shoe production fell from 20 million pairs in 1985 to 11 million ten years later.

    The industry's workforce also fell to 18,000 from 11,590 respectively.

    [30] Thessaloniki trade fair to launch sector presentations

    Athens, 19/09/1997 (ANA)

    Thessaloniki international trade fair, the largest in Greece, will in coming years shift its focus to promotion of dynamic sectors of the economy, reinforced by conferences and presentations, organizer HELEXPO said in a statement yesterday.

    The promotion of individual sectors had yet to be developed at domestic exhibitions, including the annual event in second city Thessaloniki, state-run HELEXPO said.

    This year's event, which ended on Monday, for the first time included participation as a group by major engineering contractors, many of whom are listed on the Athens bourse.

    In addition, aluminium was chosen as the key construction material for promotion at the fair.

    Emphasis so far has been placed on attracting individual companies and countries to set up pavilions at the roughly 10-day event, which traditionally hosts the prime minister's annual economic policy speech for the coming year.

    [31] General Bank underlines interest in wider market

    Athens, 19/09/1997 (ANA)

    General Bank is determined to gain a larger portion of the local banking market in the immediate future and will henceforth make coordinated efforts to convince the average customer that it is a bank for the entire banking public.

    This was stressed by the General Bank President Georgios Daskalakis at a press conference yesterday.

    In this framework, the bank's largest shareholder, the Military Share Fund - currently in possession of 68 per cent of shares - was persuaded to go ahead and increase share capital by at least 23 billion drachmas until February 1998, with a simultaneous decrease in the MSF's holding to 35-40 per cent.

    In another development, the bank yesterday announced new decreased interest rates applying as of Oct. 1. Consequently, the interest rates for personal and consumer loans (including the purchase of a car) will decrease from 22.2 per cent to 18.3 per cent, for housing loans with a stable interest rate for three years from 15.2 per cent to 10.8 per cent, for the fluctuating interest rate to 12.3 per cent and, lastly, for the "Fivestar Visa" credit card from 26.5 per cent to 22.8 per cent.

    [32] EU-organized SME conference in Larisa

    Athens, 19/09/1997 (ANA)

    A conference entitled "New businessmen-Business Sen-se-Creation of New Jobs" is taking place in Larissa at the end of the month.

    It is the last of a series of conferences preparing the way for the third European Congress of small and medium-sized businesses and handicrafts, scheduled to take place in Milan on Nov. 20 and 21.

    The Larisa conference is an initiative by European Commissioner Christos Papoutsis, while invited speakers include Development Minister Vasso Papandreou.

    End of English language section.


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