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Athens News Agency: Daily News Bulletin in English, 97-12-02

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 1356), December 2, 1997

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


CONTENTS

  • [01] Simitis talks in Paris dominated by EU-Turkish relations, Cyprus
  • [02] Last-minute Greek-Turkish agreement at NATO meeting reported
  • [03] ... Gov't spokesman
  • [04] Turkey's Karadayi in Athens
  • [05] Kranidiotis briefs Russian ambassador
  • [06] WEU's role the focus of organization's Parliamentary Assembly
  • [07] Balafas acquitted of all charges
  • [08] German deputies in Athens to work on 'tripartite rapprochement'
  • [09] ... Youth visit to Europarliament
  • [10] SAE conference begins in Thessaloniki today
  • [11] ERT to beam satellite broadcasts to Australia
  • [12] 'Greece in Britain' cultural events to begin next year
  • [13] 2004 Olympics organization on Cabinet agenda
  • [14] Albanian interior minister meets with Romeos, Soumakis
  • [15] No visa scam at Gjirokaster consulate, foreign ministry says
  • [16] New laws on legalizing foreign workers to be revealed today
  • [17] Surprise winners at Thessaloniki Film Festival
  • [18] Testimony heard at multiple rape suspect's trial
  • [19] ECOFIN meeting intermission after deadlock
  • [20] Upgrades for downtown street unveiled
  • [21] Monetary guarantee submitted in relation to 'Kostsakos' sinking
  • [22] Tzoumakas on agriculture policy
  • [23] Greek stocks jump on economy, break 1,500 pt barrier
  • [24] EU to fund Baltic Sea projects through Phare program
  • [25] EKO posts nine billion drachmas in pre-tax profits

  • [01] Simitis talks in Paris dominated by EU-Turkish relations, Cyprus

    Paris, 02/12/1997 (ANA - S. Liarellis/M. Spinthourakis)

    Members of the Greek delegation visiting the French capital yesterday expressed satisfaction following talks between Prime Minister Costas Simitis with French President Jacques Chirac and Premier Lionel Jospin .

    The talks mostly focused on Turkey's participation in the French-proposed European Conference for countries wishing to join the European Union.

    Greek sources stressed that the French side insisted on its positions, but in milder tones than expected. In addition, they said that two conditions set by Greece, namely, acceptance of UN resolutions on Cyprus and prohibiting Turkey from blocking Cyprus' accession procedure, were described as completely self-evident, while a third condition - acceptance of the jurisdiction of the International Court of Justice at The Hague - was described as reasonable.

    Nevertheless, the French side made it clear that the procedure for the Conference had to begin because it would help in Turkey's course towards the EU, stating they would make every effort to find a solution.

    Speaking at a press conference later, Mr. Simitis reiterated that Greece could not consent to Turkish participation in the Conference as long as Ankara refused to fulfill preconditions which govern relations of all civilized countries.

    He pointed out that firstly, there was no unanimity among the "15" on the content of the Conference; secondly, that in the text of the "Agenda 2000" it was clearly stated that all countries had to accept in advance the jurisdiction of the International Court as it was not possible that any dispute could be brought into the EU; thirdly, that it was inconceivable for a third country to accept or not accept EU negotiations with another country and finally, that Turkey, through official statements threatening partition or annexation of the island republic, had made it clear that it did not accept the relevant UN resolution referring to a single state on Cyprus.

    Mr. Simitis also pointed out that it was not clear whether Turkey wished to be a member of the Conference, since Turkish Prime Minister Mesut Yilmaz had given a negative answer to his Luxembourg counterpart Jean-Claude Juncker.

    "We have nothing against any country, but we are against practices which are incompatible to the principles of the EU," he said, adding that UN principles should unequivocally be accepted by all.

    Mr. Simitis also expressed satisfaction regarding the French president's announcement during the talks that France would support Athens' candidacy for membership with the UN Security Council during the period 1999-2000.

    Meanwhile, French presidency sources said that Paris supported the Luxembourg presidency's proposal that Cyprus and the other 10 candidate countries should have "a common starting point" but "a different pace" in negotiations.

    It was agreed that the reform of EU institutions should take place before completion of the first round of enlargement, while there were no major differences between the two sides on the issues of Economic and Monetary Union or the "Agenda 2000".

    Mr. Chirac and Mr. Simitis also discussed Balkan issues.

    According to French presidency sources, Mr. Chirac expressed a desire for the rapid attainment of an agreement between Greece and the Former Yugoslav Republic of Macedonia (FYROM) on outstanding issues and congratulated Greece on the successful meeting of southeast European leaders on Crete early last month.

    [02] Last-minute Greek-Turkish agreement at NATO meeting reported

    Brussels, 02/12/1997 (ANA/Reuters/AFP/DPA)

    Greece and Turkey yesterday reached an agreement on a decades-old dispute concerning the use of air space over the Aegean, German General Klaus Naumann, the head of NATO's military committee, said.

    "I can confirm that the Greek-Turkish problem has been solved," he said, adding: "It's a problem that has been haunting this alliance for over 20 years."

    He also stressed that the agreement included all military aspects of NATO's new command structure.

    At the military committee session, where the agreement was reached, Hellenic armed forces National Defense General Staff Chief, Gen. Athanasios Tzoganis, reiterated Athens' proposal regarding the "Combined Air Operations Center", which envisages that there will be no delineation of the areas of responsibilities in the Aegean, and that therefore, the center will not be linked with the Athens FIR overseeing air space in the Aegean.

    A senior NATO official also said the agreement was "an enormous breakthrough for the alliance."

    In addition to agreeing that both Greek and Turkish officers will share the command headquarters at Larissa and Izmir, the two countries also agreed to nullify what Gen. Naumann called "stacks of documents" on the dispute going back years.

    National Defense Minister Akis Tsohatzopoulos said that the formula found was favorable for Greece, and expressed optimism regarding today's NATO defense ministers' session, which will discuss and decide on the new command structure.

    "We received satisfactory answers on a series of issues which we had raised. They provide for satisfactory terms in the operation of NATO," he said. He expressed, however, reserved optimism on "Turkey's retreat" and referred to efforts by Ankara to raise obstacles until the very last minute.

    Mr. Tsohatzopoulos left yesterday for Brussels to attend today's meeting of alliance defense ministers. Informed sources said that despite Greek objections, Turkey had managed to put the issue of the coordinating center for air operations and exercises on the NATO military committee's agenda for discussion. The issue was expected to be discussed within the framework of talks on the implementation of NATO's new structure next spring or autumn.

    Turkey reportedly wants the operation of the center separate from the issue of the Flight Information Region, which would make it possible for Turkish aircraft to enter the Athens FIR without submitting flight plans, on the pretext that they were acting within the framework of the center's operation.

    [03] ... Gov't spokesman

    Athens, 02/12/1997 (ANA)

    Meanwhile, Government spokesman Demetris Reppas said later that Greece does not consider that NATO headquarters have a defined area of operational control since it no longer had a specific enemy.

    He stressed that even under NATO's new structure, each member state would retain responsibility for protecting its own territory. Asked whether NATO's new structure would cancel out any of Greece's sovereign rights, Mr. Reppas stressed that Greece maintained its right to veto, as it had done with regard to Turkish participation in certain NATO military exercises in the past.

    "When NATO exercises are being planned, we will continue to raise issues of concern to Greece, as we have always done," he said.

    He noted that all member states had reached agreement on NATO's new military structure, while the details would be worked out over the next few months.

    [04] Turkey's Karadayi in Athens

    Istanbul, 02/12/1997 (ANA - A. Kourkoulas)

    Turkish General Staff Chief Gen. Ismail Hakki Karadayi is planning to visit Athens to attend a meeting of Western European Union (WEU) military chiefs, according to Turkish press reports.

    It will be the first ever visit by a General Staff chief to Athens.

    [05] Kranidiotis briefs Russian ambassador

    Athens, 02/12/1997 (ANA)

    Foreign Under-secretary Yiannos Kranidiotis met Moscow's ambassador to Athens, Valentina Matvienko, yesterday to discuss bilateral relations as well as pending visits here by Russian Prime Minister Viktor Chernomyrdin and Foreign Minister Yevgeny Primakov .

    Mr. Kranidiotis also briefed the Russian ambassador on Greek-Turkish relations, developments on the Cyprus issue and the situation in the Balkans.

    [06] WEU's role the focus of organization's Parliamentary Assembly

    Paris, 02/12/1997 (ANA - O. Tsipira)

    The Western European Union's (WEU) three-day Parliamentary Assembly session opens here today to discuss the organization's role as the European Union's military wing, in view of NATO enlargement toward eastern Europe.

    Particular attention will be focused on Greece, which assumes the WEU presidency for the first half of 1998 on Jan. 1. Prime Minister Costas Simitis is to address the assembly today.

    Observers noted that Greek positions will come under close scrutiny, particularly by the French press, as Greece has been seen as giving excessive priority to bilateral problems with Turkey rather than the building of Europe.

    The outgoing German presidency has been praised for its "exemplary work, particularly on the organizational and technical side," but parliamentary observers also noted that it is leaving a "political vacuum" intact.

    The Greek presidency is expected to focus on giving an impetus to discussion of certain points raised at the Madrid and Amsterdam summits, such as the WEU's true position in the framework of European defense and its relationship to NATO.

    It is also expected to boost relations with southern Mediterranean nations.

    PASOK Eurodeputy Yiannis Roubatis will represent the European Parliament at the meeting.

    [07] Balafas acquitted of all charges

    Athens, 02/12/1997 (ANA)

    An Athens man accused of participating in the murder of prosecutor Georgios Theophanopoulos, a bloody 1984 Athens supermarket shootout/robbery as well as arms possession was cleared yesterday of all charges by a seven-member mixed Athens appeals court.

    Regarding the prosecutor's murder, the court - composed of three judges and four jurors - ruled that the testimony of only one eyewitness, that of the victim's aunt, who claimed to have recognized the culprit in the person of defendant Georgios Balafas, was "not sufficient to lead to his conviction," given also that it was contradictory to the coroner's report.

    On the supermarket incident, in which two security guards died, the court acquitted Mr. Balafas on the grounds of substantial doubt, as the descriptions of the perpetrators given by witnesses did not match his.

    Finally, on the arms possession charge, three of the four laymembers of the court considered that there was reasonable doubt as to whether the defendant had himself actually rented the apartment in which the weapons were found, while a fourth considered that no evidence was presented to incriminating the defendant.

    Commenting on the ruling, the counsel for the defense, Yiannis Fytrakis, said it closed a circle of persecutions against his client that began on the pretext of an anti-terrorism campaign, and directed against the extra-parliamentary Left and anarchists.

    [08] German deputies in Athens to work on 'tripartite rapprochement'

    Bonn, 02/12/1997 (ANA - P. Stangos)

    German SPD Eurodeputy Yiannis Sakellariou, who is of Greek descent, and Greens deputy Cem Oezdemir, of Turkish descent, arrived in Greece yesterday to sound out support for a "tripartite rapprochement" between Germany, Greece and Turkey, beginning with youth programs held in Germany.

    They had meetings with Foreign Under-secretary Yiannos Kranidiotis, main opposition New Democracy party leader Costas Karamanlis, Left Coalition leader Nikos Constantopoulos, Moslem deputies, representatives of the Helsinki monitors and conscientious objectors.

    "We are not trying to create problems," Mr. Sakellariou told the ANA. "Nor are we trying to divert attention from other efforts. We said from the outset that we are not acting on behalf of our governments but we want to help and therefore are at the disposal of our governments."

    In January, the two are to visit Turkey, where interest in the initiative has already been expressed by Turkish business circles.

    Their goal is to "bring together" more than two million Turks and 400,000 Greeks living in Germany, as a contribution to "breaking down the stereotyped view that Greeks and Turks are eternal enemies" and to efforts towards dialogue and understanding.

    Funds for programs such as educational seminars, are to be sought from the European Union and the German government, although Greece and Turkey are also to be approached.

    [09] ... Youth visit to Europarliament

    Brussels, 02/12/1997 (ANA)

    Sixteen young people from both Greek and Turkish Cypriot communities on the island of Cyprus yesterday began a five-day visit to the European Parliament, on the invitation of New Democracy Eurodeputy Kostis Hatzidakis. The youths are active in cultural and political activities on the divided island and were selected by the Cypriot Youth Organization and Fulbright Foundation.

    They will be briefed on the activities of European Union agencies, attend a parliamentary session and meet Parliament officials, as well as European Commissioner for external relations Hans van den Broek.

    [10] SAE conference begins in Thessaloniki today

    Athens, 02/12/1997 (ANA)

    The World Council for Hellenes Abroad (SAE) begins its first ordinary meeting in Thessaloniki today, with the participation of 340 elected representatives of Greek communities around the world.

    This morning there will be meetings of regional SAE groups and procedural issues will be discussed. One of the issues on tomorrow's agenda is a discussion of foreign policy of countries with Greek immigrant groups with regard to Greece's "national issues".

    The official opening is to be held on Thursday, to be attended by President of the Republic Kostis Stephanopoulos, Prime Minister Costas Simitis, Cypriot President Glafcos Clerides and other officials.

    The SAE's new president is to be elected on Sunday, the last day of the meeting.

    [11] ERT to beam satellite broadcasts to Australia

    Athens, 02/12/1997 (ANA)

    The Greek state television network (ERT) is soon to begin experimental satellite broadcasts for the Greek community in the US, to be extended to Australia during 1998, government spokesman Demetris Reppas said yesterday.

    ERT is also holding talks with European cable channels.

    Mr. Reppas also drew attention to Turkish language broadcasts by the Greek Radio and Television (ERA) in Komotini.

    Meanwhile, in response to a question, he said the government was not planning to establish a ministry for Greeks abroad.

    [12] 'Greece in Britain' cultural events to begin next year

    London, 02/12/1997 (ANA - L. Tsirigotakis)

    The Greek embassy in London will hold a series of events under the general title "Greece in Britain" during the six-month British presidency of the European Union which begins on January, 1, 1998.

    Prime Minister Costas Simitis referred to the program on Friday during a press conference in London during his visit.

    The aim of the events is to throw the spotlight on modern Greece and will include cultural and other events such as concerts, exhibitions, dance performances, film screenings and conferences.

    The official start to the program will be on January 21, 1998 at the House of Commons at which political figures from both countries will be present.

    [13] 2004 Olympics organization on Cabinet agenda

    Athens, 02/12/1997 (ANA)

    Cabinet will discuss the issue of the agency which will undertake the organization of the 2004 Olympic Games at its Friday meeting, government spokesman Demetris Reppas said yesterday.

    The structure of the agency, he added, would be outlined by Interior, Public Administration and Decentralization Minister Alekos Papadopoulos, following the completion of research by the government's institutional committee.

    Mr. Reppas said that no final decisions were expected on who would be appointed to the agency during Friday's meeting and that names would be considered following contacts with opposition parties.

    [14] Albanian interior minister meets with Romeos, Soumakis

    Athens, 02/12/1997 (ANA)

    Albanian Interior Minister Neritan Ceka had separate talks yesterday with Public Order Minister George Romeos and Merchant Marine Minister Stavros Soumakis, as part of his official visit to Greece. The talks were also attended by Albania's ambassador in Greece Kastriot Robo and the heads of the Greek and Albanian police forces, Athanasios Vassilopoulos and Sokol Baraj.

    According to reports, the talks were constructive and provided an opportunity for a broad exchange of views and the further promotion of bilateral co-operation.

    Mr. Ceka's talks with Mr. Romeos focused on ways to improve co-operation in matters of training, while the possibility was examined of further co-operation through the joint working committee which has already been formed to combat drug trafficking, organized crime, and theft.

    [15] No visa scam at Gjirokaster consulate, foreign ministry says

    Athens, 02/12/1997 (ANA)

    The foreign ministry yesterday rejected press reports claiming that visas issued by the Greek consulate in Gjirokaster, southern Albania, were up for sale, stressing that all the legal procedures to issue a visa were being rigorously followed. A foreign ministry announcement said that Greece's consul general in Gjirokaster was performing his duties well despite the difficult conditions prevailing in the region.

    The issue of an ethnic Greek prosecuted for describing himself as such in the recent census held in the Former Yugoslav Republic of Macedonia is to be dealt with by Greece's diplomatic liaison office in Skopje, government spokesman Demetris Reppas said.

    Mr. Reppas suggested that the person concerned, whose name was given as Mihailovski, get in touch with the Greek liaison office. However, he stressed that "such phenomena should no longer ... be poisoning relations between neighboring countries."

    [16] New laws on legalizing foreign workers to be revealed today

    Athens, 02/12/1997 (ANA)

    Labor and Social Security Minister Miltiades Papaioannou is expected to announce the details of a presidential decree providing foreigners in Greece with legal residency and work permits at a press conference today.

    Mr. Papaioannou is also expected to announce the procedures and prerequisites for receiving a temporary residency permit for foreigners.

    The new requirements and guidelines are expected to be defined by the end of the year with a series of presidential decrees.

    According to the head of the political asylum department at the public order ministry, a presidential decree on monitoring illegal immigration to Greece would also be ready by the end of the year.

    The series of measures, it is hoped, will bring an end to the uncertain status facing some 400,000 immigrants residing and working illegally in Greece and who have no personal or workers' rights.

    The number of illegal immigrants, according to state services, now constitute almost 10 percent of the working population and is expected to increase in the face of economic crises hitting Greece's Balkan neighbors.

    A government advisory committee on economic and social committee (OKE) found that apart from immigrants from neighboring countries, Greece was also a destination for economic migrants from Asia and Africa, resulting in large communities of Egyptians, Filipinos, Iraqis and Pakistanis all working illegally and without social security.

    OKE found that the illegal status of immigrants cost the Greek state and economy, particularly at a time of fiscal difficulty.

    [17] Surprise winners at Thessaloniki Film Festival

    Athens, 02/12/1997 (ANA)

    There were a number of surprises among the prizewinners at the 38th Thessaloniki Film Festival which ended Sunday night in a ceremony that was marred when photographers, who had been banned from mounting the stage, refused to take photographs.

    The prize for the best Greek film was shared by "Lost Nights" whose director Angeliki Antoniou was also awarded the prize for best director, and "Miroupafsin" by George Kouras and Christos Voupouras.

    Prize for best scenario also went to "Lost Nights", written by the director and Kriton Kalaitzidis.

    Lazaros Andreou was voted best actor for his performance in "The Golden Apples of Evening", while Irini Inglesi and Yasmin Tabatabai shared the best actress award.

    Aris Stavrou won the photography prize for his work in "Tomorrow we'll know", while George Tsagaris won the music prize for his score for "Vasiliki".

    In the International Competition, Australia's Sue Brooks took the Golden Alexander Award for the best film with her "Road to Neil".

    The Silver Alexander, awarded by the critics' committee was awarded to the Turk Dervish Zaim for "Somersaults in a Coffin".

    Paddy Breathnach won the prize for best director, while Shane Meadows was awarded the prize for best scenario for "Tangible 24".

    [18] Testimony heard at multiple rape suspect's trial

    Athens, 02/12/1997 (ANA)

    An Athens court yesterday heard testimony regarding a 53-year-old Athens pensioner and father of two that's charged with the rape of several teenage girls.

    Details of the case were disclosed 14 months ago when Gerassimos Bilis-Samaras was arrested.

    The defendant, described by prosecutors as a "sex-maniac", is charged with seducing eight young girls between 1992-96. According to court records, he would allegedly transport teenage girls in his van, then photograph them in the nude before blackmailing them with the photos if they did not consent to sexual intercourse.

    Testimony stated that the suspect had transformed his vehicle into a "mobile bedroom", equipped with a bed and related paraphernalia, such as handcuffs, a tape recorder, a knife and a pistol.

    Five of the eight girls, who are now of legal age, said in their testimony that the only reason they had sex with the man was because he threatened to harm them or members of their family.

    The hearing was adjourned for today.

    [19] ECOFIN meeting intermission after deadlock

    Brussels, 02/12/1997 (ANA - P. Pantelis)

    A meeting of the council of EU economy and finance ministers (ECOFIN), held here yesterday, has come to a deadlock due to disagreements between member-states' ministers.

    The issues examined at the council were preparation of the third stage of Economic and Monetary Union (EMU) in relation to the Euro, as well as the package containing measures for the harmonization of taxation, proposed by the European Commission.

    Attending the meeting on behalf of Greece was National Economy and Finance Minister Yiannos Papantoniou.

    Objections to the Euro policy were forwarded by Greece, Britain, Denmark and Sweden, while serious disagreements have also been voiced over the harmonization of taxation, which includes equal taxes on businesses and taxes on bank accounts.

    The meeting was interrupted by the Luxembourg EU presidency and was expected to continue late last night.

    In the meantime, while the Council was meeting, about 3,000 duty-free shop employees staged a protest rally outside the building. They were representing as many as 100,000 duty-free shop employees in the EU, whose jobs are on the line after an EU-wide extension duty-free shop ends in July 1999.

    [20] Upgrades for downtown street unveiled

    Athens, 02/12/1997 (ANA)

    The ministry of environment, town planning and public works yesterday announced a comprehensive program to reshape Pireos street, a major avenue linking Piraeus with central Athens.

    The initiative was announced yesterday by Public Works Minister Costas Laliotis, who also inaugurated a relevant display of works slated for Pireos street.

    According to the minister, the 10-billion-drachma project is envisioned to transform the entire 8.5km-long street.

    [21] Monetary guarantee submitted in relation to 'Kostsakos' sinking

    Athens, 02/12/1997 (ANA)

    A letter of guarantee of just under 900 million drachmas was submitted yesterday by the shipping firm owners of the ferry-boat "Samaina", in relation to last year's collision between the vessel and the missile boat 'Kostakos', an accident that led to the sinking of the latter.

    Relatives of the four dead crewmembers of the 'Kostakos', which was later salvaged from the eastern Aegean's sea bed, filed a legal motion with a Piraeus court, demanding 1.28 billion drachmas for compensation for moral damages and support for the four sailors' families.

    However, according to the London International Treaty, compensation should be calculated according to the ship's size and capacity.

    [22] Tzoumakas on agriculture policy

    Athens, 02/12/1997 (ANA)

    Agriculture Minister Stephanos Tzoumakas said yesterday that he is determined to fully implement announced government policy in the agricultural sector.

    A series of development measures is already underway, such as the establishment of a foodstuffs organization, a change in the institutional framework governing cooperatives, a change in the agricultural insurance policy, as well as the creation of a sociiti anonyme company to promote exports.

    In an interview with the ANA, Mr. Tzoumakas spoke on the course of development interventions he's carrying out at the agriculture ministry, the EU's "Agenda 2000" program, the new '98 budget, debts owed by cooperatives and private persons, as well as mobilizations and the tackling of forest fires.

    Mr. Tzoumakas said farmers can expect better incomes now that equal treatment has been secured between southern and northern products in the framework of "Agenda 2000." He said this was the result of initiatives and movements developed by Greece.

    The remaining debts owed by cooperatives and private persons, amounting to 300 billion drachmas, will be handled with bank criteria, he said.

    A new draft law is being prepared, he added, enabling cooperatives to function as economic units and as a powerful defense front against speculation.

    Mr. Tzoumakas said he would like funds registered in the budget for 1998 for new activities to be much more, adding that he is discussing the possibility of certain groups of professionals with a low income taking advantage of privileges offered to people having agriculture as their main occupation based on the register.

    He ruled out a repetition of farmers' mobilizations in the form they occurred last year and insisted that the motives behind this form of mobilizations were political.

    Mr. Tzoumakas went on to say that interest rates must drop in the agricultural sector, he intends to have an S.A. company created on French models to undertake to promote exports.

    He said the coordination for combating forest fires will leave the agriculture ministry and be given to the fire brigade.

    [23] Greek stocks jump on economy, break 1,500 pt barrier

    Athens, 02/12/1997 (ANA)

    Greek stocks soared for the fifth straight session yesterday to retake the psychological 1,500-point barrier, buoyed by downward pressure on interest rates in a T-bill tender on Friday.

    Also fueling optimism were hopes that November's consumer price inflation will hold steady around five percent.

    The general index closed 2.35 percent higher at 1,508.67 points led by a wave of buying in interest in banks and industrials. The index breached 1,500 points for the first time after 15 sessions.

    Trading was moderate with turnover slightly higher at 24.3 billion drachmas from 21.1 billion drachmas on Friday. Turnover last week was an average 19.2 billion.

    Sector indices mostly scored gains. Banks rose 2.11 percent, Insurance soared 3.08 percent, Investment jumped 2.90 percent up, Construction edged up 0.46 percent, Industrials increased 1.06 percent, Miscellaneous edged down 0.01 percent and Holding gained 3.40 percent. Bucking the trend was Leasing, which slipped 0.28 percent.

    Hellenic Telecommunications Organization (OTE) finished at the eight percent upper volatility limit at 5,886 drachmas on 581,000 shares traded.

    Of 247 shares traded advancers led decliners by 166 to 54 with 27 issues remaining unchanged.

    OTE, Folli-Follie, Macedonia-Thrace Bank and Mouriadis scored the biggest percentage gains at limit up. Hellenic Sugar, Lambropouli (preferred), Macedonia Textile Mills (common) and Corinth Textile Mills (common) ended at or near the eight percent lower volatility limit.

    Among blue chips National Bank of Greece ended at 26,290 drachmas, Ergobank at 15,350, Alpha Credit Bank at 16,745, Delta Dairy (common) at 3,495, Titan Cement (common) at 13,315 and Intracom (common) at 14,000.

    [24] EU to fund Baltic Sea projects through Phare program

    Athens, 02/12/1997 (ANA)

    The European Union's executive Commission has called for investment proposals to fund projects in countries of the Baltic Sea under its Phare program. Funding for the projects is a maximum 80 percent, and there is no deadline for applications.

    [25] EKO posts nine billion drachmas in pre-tax profits

    Athens, 02/12/1997 (ANA)

    Pre-tax profits for the Hellenic Fuel and Mineral Oils group EKO amounted to nine billion drachmas over the January-September 1997 period, registering an increase of 2.3 billion drachmas compared to the corresponding period in 1996.

    EKO increased profits over this period by 1.3 billion drachmas compared to 1996, amounting to 6.2 billion drachmas, an amount slightly higher than the prediction.

    The refinery's pre-tax profits amounted to 3.3 billion drachmas over the January-September 1997 period and are expected to total 4.8 billion drachmas by the end of the year, while chemicals decreased losses by 1.9 billion drachmas compared to 1996.

    End of English language section.


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