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Athens News Agency: Daily News Bulletin in English, 99-03-31

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

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

CONTENTS

  • [01] Greek aid to FYROM,Albania to support refugees
  • [02] Commission: Greece expected to meet EMU criterion for inflation
  • [03] G. Papandreou-Karamanlis meeting focuses on Balkan crisis
  • [04] Greece condemns killings of Kosovo Albanian leaders
  • [05] Greek ambassador holds talks with FYROM's defence minister
  • [06] PASOK deputies call for end of war in Yugoslavia
  • [07] Greek Eurodeputies demand end to attacks against Yugoslavia
  • [08] China's Li Peng warns against NATO intervention in Yugoslavia
  • [09] Tsohatzopoulos visit to Romania, Bulgaria, FYROM
  • [10] Gov't expects no problems in tourism sector from Yugoslav crisis
  • [11] Gov't denies reports of Simitis meeting with Clinton, Demirel
  • [12] Ethnic Greek organisation in Albania on refugee issue
  • [13] Greek Red Cross aid
  • [14] Alpha Credit Bank eyes 100 pct buyout of Ionian
  • [15] T-bill yields drop in auction
  • [16] Government plans tax cuts to aid low wage earners, businesses
  • [17] Stocks nose up in volatile trade
  • [18] Drachma, bonds edgy but steadier
  • [19] Gov't hopes for EU okay in Thessaloniki finance centre plan
  • [20] Development ministry bill for consumer protection
  • [21] Conference on EU funds held in Athens
  • [22] GEK share capital increase
  • [23] Athens Foreign Exchange

  • [01] Greek aid to FYROM,Albania to support refugees

    Athens, 31/03/1999 (ANA)

    The government said yesterday that Greece will provide 2.5 billion drachmas (around $8.5 million) of humanitarian aid to the Former Yugoslav Republic of Macedonia (FYROM) and Albania to deal with the influx of refugees exiting the war-torn Yugoslav province of Kosovo .

    Interior Minister Vasso Papandreou announced after an inter-ministerial meeting that two ambulances, tents, foodstuffs and pharmaceuticals will be flown by C-130 aircraft today and tomorrow, while 250 out of around 500 pre- fabricated homes would be disp atched immediately to both countries and Serbia.

    The meeting was attended by several ministers and foreign ministry officials.

    In addition, two centres will be established in Ioannina and Thessaloniki to coordinate and supervise the agencies handling refugee affairs.

    Replying to reporters' questions whether refugees have already crossed the Greek border, Ms Papandreou said the situation at the borders was normal and that no refugees had reached Greece, while she said "FYROM had asked Greece to accept refugees, although the Greek government feels that it would be more effective if the people remained near their homes, which was the intention of the humanitarian and financial aid to Skopje."

    G. Papandreou : Speaking to reporters on the same issue, Foreign Minister George Papandreou said he spoke with Russian Foreign Minister Igor Ivanov and US Secretary of State Madeleine Albright regarding the situation in Yugoslavia.

    "We maintain contact in order to seek procedures for a peaceful solution to the problem, the tragedy in KosovoIWe are all agonising toward a solution to the problem...either (Alternate FM Yiannos) Mr. Kranidiotis or I will soon travel to Albania to monito r the organisation of the assistance coordinated by our embassy in that country."

    Mr. Papandreou said the passage of Turkish troops through Greece was a "non- issue".

    Athens: War no solution for Yugoslavia : War has never resolved problems, on the contrary it has created them, government spokesman Dimitris Reppas said yesterday when asked about the results so far of ongoing NATO bombings against Yugoslavia.

    Replying to press questions about Greece's policy on the Kosovo crisis, Mr. Reppas said Greek initiatives had been "many and substantial", while, responding to another question, he noted that "there is no margin" at the present time for a fresh tour of Balkan capitals by Foreign Minister George Papandreou.

    Mr. Reppas said Mr. Papandreou had telephone conversations yesterday morning with his British and Canadian counterparts, adding that the latter expressed Ottawa's interest in participating in humanitarian aid efforts.

    He also spoke with the UN High Commissioner for Refugees.

    The spokesman said Mr. Papandreou's Russian and French counterparts were seeking contact with him.

    Mr. Reppas expressed the hope that Tuesday's talks between Yugoslav President Slobodan Milosevic and Russian Premier Yevgeni Primakov might result in momentum for tackling the Kosovo problem by political and peaceful means.

    Asked whether NATO had requested permission for 80,000 alliance troops to pass through Greek territory, Mr. Reppas replied that "there is no such issue".

    He added that it was not in NATO's intentions to use such a high number of troops and that the size of the force presently deployed - was just over 10, 000 soldiers.

    Referring to the issue of support for refugees, Mr. Reppas said that Greece was following guidelines that displaced persons should be assisted to remain as close to their homes as possible.

    "This is why Greece is providing economic and material support to Albania and Skopje," he said.

    He said that Greece's borders were being effectively patrolled.

    Athens News Agency

    [02] Commission: Greece expected to meet EMU criterion for inflation

    BRUSSELS, 31/03/1999 (ANA- G. Daratos)

    The European Commission has forecast inflation rates of 2.1 in 1999 and 1.9 per cent in 2000 for Greece, meeting one of the two remaining criteria for participation in Economic and Monetary Union (EMU) by 2001.

    The other criterion is a convergence of interest rates.

    The forecast is contained in the Commission's six-month report on the economies of member-states in 1998, released yesterday, which also provides forecasts for 1999.

    "The performance of the Greek economy continued to improve: GDP growth accelerated while significant progress was achieved in curbing inflation and correcting fiscal imbalances...

    "Investment activity continued to be strong while exports contributed to an acceleration in real output to an estimated rate of economic growth of 3.6 per cent," the report noted.

    "The situation in the labour market improved in 1998, albeit marginally, and the unemployment rate resumed a slow downward path...Slowing demand and labour costs assisted the containment of inflation in the post-devaluation period. On average consumer prices rose by 4.8 per cent in 1998, down from 5.5 per cent in 1997.

    "Slowing labour costs, lower indirect taxes and international commodity prices are expected to contribute to further disinflation during the forecasting period. Year-on-year CPI inflation reached 3.7 per cent in January and February 1999 and is expected to decelerate further as from April when the impact of last year's devaluation will have been fully absorbed.

    "Private consumption is forecast to recover in line with increasing real disposable income as the tax system is reaching its maturity. Investment is expected to remain the driving force of domestic demand.

    "Public finance posted an uninterrupted improvement since 1994. The March devaluation was accompanied by fiscal measures aimed at preventing any overshoot in the budgetary targets. Due to the successful implementation of accompanying measures, the defic it of the general government was 2.4 per cent of GDP in 1998, in accordance with the target set in the convergence programme. Government debt was reduced by 2.9 percentage points of GDP, mainly due to higher receipts from privatisation of the structural part of the accompanying measures," the report continued.

    "The general government deficit in 1999 is forecast to be 2.1 per cent of GDP...The primary surplus is expected to reach 6.5 per cent of GDP in 1999 and 2000, thus contributing to a further decline in the debt ratio in both years."

    Athens News Agency

    [03] G. Papandreou-Karamanlis meeting focuses on Balkan crisis

    Athens, 31/03/1999 (ANA)

    Foreign Minister George Papandreou said a coincidence of views regarding the political framework for resolving the Kosovo crisis was ascertained during his meeting with main opposition New Democracy leader Costas Karamanlis at ND's offices yesterday after noon.

    Mr. Papandreou said the government's initiatives are continuing at diplomatic and humanitarian levels with contacts and communications he had with his counterparts of Balkan countries, as well as of the US and Russia.

    He said he will continue his contacts with the other political parties as well and with former foreign ministers of both PASOK and ND on the issue.

    Referring to the Primakov initiative, he said he is awaiting its results, adding that he is in contact with Russia, the US and the European Union on the issue.

    Replying to a question on whether there are fears of refugees moving to southern Albania, he said the aim is to keep the refugees as close as possible to their homes as necessitated by international practice.

    Mr. Papandreou said he has had consultations on the issue with his Albanian counterpart and has briefed non-governmental organisations and officials such as Mr. Holbrooke and others on the Greek minority in Albania.

    Mr. Karamanlis requested from Mr. Papandreou to have Greece undertake an initiative for a peaceful solution in the region.

    Mr. Karamanlis said there was ground for a solution and initiatives based on an end to bombings, the guaranteeing of the inviolability of borders and of minority rights, the deployment of a peacekeeping force under the OSCE and the granting of autonomy to Kosovo with the elimination of the term on a referendum being held three years later. He said that if this term is applied it could lead to secession and independence.

    Athens News Agency

    [04] Greece condemns killings of Kosovo Albanian leaders

    Athens, 31/03/1999 (ANA)

    The Greek foreign ministry yesterday issued a press release condemning the murders of several Kosovo Albanian political leaders over the recent week.

    "We condemn, in the strongest possible terms, the murders. We believe that in these difficult times, the loss of the moderate Albanian personalities, who worked for the protection of human and minority rights and the search for a peaceful solution to the Kosovo problem, is a heavy blow to all those forces within the Federal Republic of Yugoslavia who struggle with moderation and realism for an exit from the cycle of violence and blood as well as a peaceful solution to the Kosovo crisis," the statement read.

    Athens News Agency

    [05] Greek ambassador holds talks with FYROM's defence minister

    Athens, 31/03/1999 (ANA)

    FYROM Defence Minister Nikolas Klousev yesterday met with the Greek ambassador to Skopje, Georgios Kaklikis. Both men exchanged views on the developments in the region, while Mr. Klousev said FYROM's territory and airspace should not be used for launching attacks against Yugoslavia.
    Athens News Agency

    [06] PASOK deputies call for end of war in Yugoslavia

    Athens, 31/03/1999 (ANA)

    Eight deputies of the ruling PASOK party yesterday handed a letter to Parliament President Apostolos Kaklamanis proposing the adoption by the 300- member legislature of a resolution, calling for the cessation of military operations in Yugoslavia.

    In the letter, the deputies underline that "the Greek Parliament must give a vociferous 'no' to the war and appeal for respect for human and minority rights."

    The deputies, among them former PASOK foreign minister Karolos Papoulias, also maintain that the NATO air offensive is in violation of international law and will only lead to a worsening of the situation in Kosovo.

    In a related development, Coalition of the Left and Progress leader Nikos Constantopoulos held talks in Athens yesterday with Russian ambassador Mikhail Mikhail Botcharnikov, who briefed him on Moscow's initiative aimed at restarting negotiations on the Kosovo crisis.

    After the meeting, Mr. Constantopoulos called for an immediate end to NATO strikes.

    Athens News Agency

    [07] Greek Eurodeputies demand end to attacks against Yugoslavia

    BRUSSELS, 31/03/1999 (ANA - Y. Zitouniati)

    Ten PASOK Eurodeputies yesterday tabled a draft resolution in the Europarliament, calling for NATO to immediately cease all military operations in Yugoslavia so as to avert the danger of destabilising the Balkans.

    On his part, Communist Party of Greece (KKE) Eurodeputy Yiannis Theonas tabled a question to the European Union Council on the issue, expressing his disdain over what he called "the unprecedeneted military attack and for the continuing barbarous NATO bo mbings against the independent and sovereign state of Yugoslavia."

    Coalition for the Left and Progress (Synaspismos) Eurodeputy Alekos Alavanos, in his statement, noted today's extraordinary convening of a Europarliament committee of foreign affairs to discuss the Kosovo crisis, despite what he termed "the German presi dency's stalling."

    Athens News Agency

    [08] China's Li Peng warns against NATO intervention in Yugoslavia

    Athens, 31/03/1999 (ANA)

    The president of China's National Peoples' Assembly, Li Peng, yesterday demanded the immediate end to the NATO intervention in Yugoslavia and return to negotiations.

    Mr. Peng, on a four-day official visit in Athens at the invitation of Parliament President Apostolos Kaklamanis, said NATO actions have already caused loss of human lives and had a serious impact on refugees and distabilisation in the region.

    The Chinese leader stressed that "the borders were established during World War II and should remain unchanged", warning that a change in borders "would constitute a major crime."

    "The Chinese people are against NATO's armed intervention in Yugoslavia, as a matter of fact (conducted) without UN consent. Our standing position is to oppose interventions in other states' internal affairs," Mr. Peng said.

    Replying to reporters' questions on what Beijing will do if NATO strikes continue, Mr. Peng said "it would depend on developments".

    On his part, Mr Kaklamanis also focused on developments in the Balkans as well as the "excellent level" of Greek-Chinese relations.

    "Human rights should not constitute a pretext for third-party interventions in other states' sovereign rights, as a matter of fact aiming at border changes," he said.

    The Greek Parliament president stressed that China was one of the most consistant supporters of International Law on the Cyprus problem, adding that its significant international standing could allow it to play a key role in southeastern European developments.

    Athens News Agency

    [09] Tsohatzopoulos visit to Romania, Bulgaria, FYROM

    Athens, 31/03/1999 (ANA)

    National Defence Minister Akis Tsohatzopoulos begins an official visit to Romania tomorrow, to be followed by talks in Bulgaria and the Former Yugoslav Republic of Macedonia (FYROM). Although the visit to Romania was scheduled, Mr. Tsohatzopoulos will take the opportunity to have talks also in Sofia and Skopje within the framework of a Greek initiative to help resolve the Kosovo crisis. Mr. Tsohatzopoulos will return to Athens on Saturday evening.
    Athens News Agency

    [10] Gov't expects no problems in tourism sector from Yugoslav crisis

    Athens, 31/03/1999 (ANA)

    The government expects no substantive problems for trade, exports and tourism due to the war in Yugoslavia, as Greece lies outside the crisis and is a European country.

    However, whatever minor problems which might be created have already been discussed both at government level and with relevant agencies and chambers of commerce, primarily in northern Greece.

    Development Minister Evangelos Venizelos said Greek tourism is not facing any problem since no bookings have been cancelled and, on the contrary, bookings have exceeded capacity.

    He further said that no problem existed on corridors used by Greece to other European countries. In other words, communication corridors used after 1990 for the passage of Greek goods to central Europe are not being harmed.

    On the question of Greek exports to the other Balkan countries, with the exception of Yugoslavia, no problem appears to exist and nor will it exist. On the contrary, economic, technical and humanitarian aid Greece will provide for the hosting of refugees in Albania and the Former Yugoslav Republic of Macedonia (FYROM) are expected to strengthen Greek exports to these countries.

    Mr. Venizelos said that in the next few days Greece will undertake an initiative at the European Union, "after the completion, we hope, of military operations as soon as possible", on the region's economic restructuring. He added that Greece supports the accession to the EU of all the candidate member-states from the Balkans.

    Athens News Agency

    [11] Gov't denies reports of Simitis meeting with Clinton, Demirel

    Athens, 31/03/1999 (ANA)

    Greece yesterday denied that Prime Minister Costas Simitis would hold a tripartite meeting with Turkish President Suleyman Demirel and US President Bill Clinton in Washington next month.

    "These reports are completely groundless," government spokesman Dimitris Reppas said.

    "The government is not dealing with any such eventuality."

    According to the reports, Mr. Simitis was scheduled to meet with the US and Turkish heads of state while in Washington for the 50th anniversary conference of NATO members.

    Athens News Agency

    [12] Ethnic Greek organisation in Albania on refugee issue

    GJIROKASTER, 31/03/1999 (ANA - P. Barkas)

    Omonia, the Greek ethnic party in Albania, issued an announcement yesterday stating that the Greek minority in the neighbouring country follows the latest developments in Kosovo with great concern.

    Omonia's announcement expressed its adherence to the protection of peace and its unequivocal rejection to all kinds of violence "no matter the source."

    The ethnic Greek party also expressed its solidarity to "all the victims of the humanitarian catastrophe, which is before our gates", and wished "for the creation of necessary conditions which will allow for all (refugees) to return to their homes."

    Omonia also requested of the Albanian government and international organisations to prevent public order problems as well as any alteration the area's demographic composition.

    Finally, the mayor Gjirokaster yesterday announced that 5,000 Kosovo Albanian refugees will be settled in that town, while another 2,000 in outlying areas, many which constitute the heartland of the Greek minority in southern Albania.

    Athens News Agency

    [13] Greek Red Cross aid

    Athens, 31/03/1999 (ANA)

    The Greek Red Cross said in a statement yesterday that it was preparing to send 18,000 packages of sanitary items and 3,000 mattresses to the Former Yugoslav Republic of Macedonia (FYROM) for refugees fleeing Kosovo. The first dispatch of aid is being fin anced by the foreign minister, the organisation said. The Greek Red Cross said it was also considering extending assistance in the form of food, tents and medicines to residents of Yugoslavia affected by the NATO air strikes. Kosovar refugees in Albania a re also to be helped by the Red Cross.
    Athens News Agency

    [14] Alpha Credit Bank eyes 100 pct buyout of Ionian

    Athens, 31/03/1999 (ANA)

    Alpha Credit Bank chairman Yiannis Kostopoulos yesterday proposed to shareholders that a new meeting should be called in April to vote on the acquisition of the remainder of Ionian Bank, and a share capital rise.

    Alpha, the country's largest private commercial bank, has won a tender for the sale of a 51 percent stake in Ionian, the centrepiece of the government's privatisation plan.

    Mr. Kostopoulos said the bank's business plan for Ionian, which was part of its bid, is to go into effect immediately.

    A contract for the acquisition was signed with Ionian's parent, Commercial Bank of Greece. All three banks involved are listed on the Athens bourse.

    The Alpha Credit Group was now the country's second largest bank after the state-run National Bank of Greece Group, Mr. Kostopoulos said.

    Alpha's market share among commercial banks had risen to 18-19 percent due to the acquisition of Ionian.

    Total assets were 6.1 trillion drachmas, loans 2.3 trillion drachmas and deposits 4.8 trillion drachmas.

    Alpha's shareholders approved a dividend of 800 drachmas per share from 1998 profits from 724 drachmas a year earlier.

    The bank will also hold a one-for-one bonus issue, lowering the share's nominal price to 1,500 drachmas from 2,000 drachmas.

    The move would make Alpha's share more accessible to the buying public, Mr. Kostopoulos said.

    Athens News Agency

    [15] T-bill yields drop in auction

    Athens, 31/03/1999 (ANA)

    Treasury bill yields fell during yesterday's auction of 12-month paper. The average weighed yield fell to 8.75 percent from 9.20 percent in the previous auction.

    Deputy Finance Minister Nikos Christodoulakis said that the bond market was showing signs of stabilisation, and that 10-year bond yields remained within the Maastricht criterion for participation in the euro zone.

    Buying was seen in yesterday's secondary market and prices rose after a slump in the previous session.

    Mr. Christodoulakis was speaking after a meeting with National Economy and Finance Minister Yiannos Papantoniou to review domestic markets.

    Athens News Agency

    [16] Government plans tax cuts to aid low wage earners, businesses

    Athens, 31/03/1999 (ANA)

    The government has drafted tax reforms including support for low incomes and businesses through tax cuts, simpler procedures to improve services for the public, and a wider the tax base, Deputy Finance Minister George Drys said yesterday.

    He was addressing a two-day conference on Greece in a new Europe in the 21st century organised by the Hellenic-British Chamber of Commerce.

    Mr. Drys said that the government hoped to achieve three targets through its tax reform programme.

    The goals were to give the public returns for the sacrifices it made to support economic growth and competitiveness; transform the tax system into an instrument of continuous growth; and prepare for entry into a unified tax system in the European Union.

    He said Greece supported adoption of a jointly approved floor for corporate tax in the EU in order to prevent unfair tax competition among member- states.

    Athens News Agency

    [17] Stocks nose up in volatile trade

    Athens, 31/03/1999 (ANA)

    Equity prices ended a highly volatile session slightly higher yesterday supported by hopes that the crisis in Kosovo would not be prolonged or deteriorate further.

    The general index ended 0.42 percent higher at 3,511.02 points after moving in a range of 125 points during the day.

    Traders said the outlook remained positive due to favourable economic fundamentals.

    Sector indices were mixed.

    Banks fell 0.53 percent, Insurance dropped 1.71 percent, Investment was 2.38 percent higher, Leasing rose 0.52 percent, Industrials increased 0.99 percent, Miscellaneous ended 1.44 percent up, Construction rose 0.40 percent and Holding increased 0.83 pe rcent higher.

    The parallel market index for small cap companies ended 0.95 percent lower.

    Broadly, advancers led decliners by 145 to 120 with another 21 issues unchanged.

    Turnover was 235.373 billion drachmas and volume 33,228,115 shares, reflecting the transfer of 11,750,000 shares worth 110 billion drachmas from Eurobank to its underwriters following an initial public offer.

    Thessaliki, Piraeus Bank, Oinerga were the most heavily traded stocks. Fanco, Vis, Metka, Oinerga, Mytilineos, Tasoglou, Halcor, Benroubi and General Trade hit the day's 8.0 percent limit up.

    Commercial Invest, Elfico, Nafpaktos Textiles, Alysida, Sportsman, Orion, Lanacam, Halyps Cement, Ionian Hotels and St George Mills suffered the heaviest percentage losses.

    The FTSE/ASE 20 index ended 0.15 percent higher at 2,174.85 points.

    National Bank of Greece ended at 21,300 drachmas, Alpha Credit Bank at 41, 200, Ergobank at 23,530, Ionian Bank at 23,700, Titan Cement at 23,920, Hellenic Petroleum ata 2,450, Intracom at 19,100, Minoan Lines at 7,305, Panafon at 7,930 and Hellenic Telecoms at 7,360.

    Athens News Agency

    [18] Drachma, bonds edgy but steadier

    Athens, 31/03/1999 (ANA)

    The drachma and secondary market bonds were more stable yesterday despite some volatility, in the wake of a plunge in the previous session on fears the Yugoslavia crisis would spread throughout the Balkans.

    Domestic banks were seen buying into bonds, aiding stability, and no outflows were reported in the foreign currency market.

    The latest 10-year bond was 102.35-102.75. The yield spread between the paper and Germany bunds fell to 1.92 percent from 2.0 percent a day earlier.

    Electronic trade was 93 billion drachmas from 180 billion drachmas a day earlier.

    The drachma edged up against the euro in the foreign currency market.

    The euro ended at 325.300 drachmas at the central bank's daily fix from 326.000 drachmas in the previous session.

    Athens News Agency

    [19] Gov't hopes for EU okay in Thessaloniki finance centre plan

    THESSALONIKI, 31/03/1999 (ANA-T.Liolis)

    Economy ministry secretary general George Papaioannou said yesterday he believed the European Union would endorse a government proposal to create an international financial services centre in Thessaloniki.

    Mr. Papaioannou was in the northern port city to attend a meeting with Macedonia-Thrace Minister Yiannis Magriotis and local business officials.

    The existence of the centre would strengthen Thessaloniki's position in the region, create around 1,000 jobs and aid operations at the city's stock exchange centre, Mr. Magriotis said.

    Athens News Agency

    [20] Development ministry bill for consumer protection

    Athens, 31/03/1999 (ANA)

    The development ministry will promote a series of measures over the next few weeks on more substantive protection for the consumer, greater transparency in the market and the functioning of healthy competition.

    Many of these measures will be included in decisions contained in a bill Development Minister Evangelos Venizelos will be tabling in Parliament immediately after Easter.

    Speaking at a press conference yesterday, the minister said that one of these measures will concern the modernisation and restructuring of the competition committee, established in 1995, to enable it to function effectively and quickly in accordance with new needs created by the market. The bill will also include issues concerning industry, research and tourism.

    Athens News Agency

    [21] Conference on EU funds held in Athens

    Athens, 31/03/1999 (ANA)

    European Union funds to flow into Greece over the 2000-2006 period, roughly nine trillion drachmas, constitute a major opportunity for Greece's further development course, the government and private sector representatives said yesterday during a conference entitled "Agenda 2000-Greek Economy".

    The conference was organised in Athens by the Hellenic British Chamber of Commerce in cooperation with the Federation of Greek Industries (SEB) and Reuters Hellas.

    Addressing the conference, National Economy Deputy Minister Christos Pachtas said the funds, both EU and national, destined for the country's development prospects over the 2000-2006 period are estimated to exceed 15 trillion drachmas.

    Agriculture Minister George Anomeritis said the third Community Support Framework will only constitute an important opportunity for the country's development if it is combined with the carrying out of structural changes in all sectors in the economy. On the question of the agricultural sector, he said bold initiatives are underway, the first being the organisation of national inter-vocational organisations which will contribute to the implementation of agricultural reform.

    Athens News Agency

    [22] GEK share capital increase

    Athens, 31/03/1999 (ANA)

    The GEK construction firm yesterday announced a share capital increase to the tune of 24.116 billion drachmas, following a relevant decision at yesterday's shareholders general assembly.

    The nominal price of the shares was set at 200 a piece, while the sale price was set at 1,450 drachmas per share with the preference rate of purchase set at 15 new shares for 10 old ones.

    The Decision company, a subsidiary of Info-Quest, has signed an agreement with the Germany-based Ixos software firm to represent and support the latter's "packages" in the Greek and Cypriot markets.

    Ixos is one of the fastest developing software companies in Germany in the sector of data and documents management for companies.

    The Union of Insurance Companies of Greece (EAEE) has unveiled an Internet website in order to provide information to local and foreign insurance companies operating in Greece. The EAEE website is:http://eaee.gr

    Athens News Agency

    [23] Athens Foreign Exchange

    Athens, 31/03/1999 (ANA)

    Bank of Greece closing rates of: March 30, 1999

    Parities in Drachmas

    Banknotes             Buying  Selling
    US Dollar             300.844 307.819
    Can.Dollar            198.519 203.122
    Australian Dlr        189.432 193.824
    Pound Sterling        486.397 497.675
    Irish Punt            409.742 419.242
    Pound Cyprus          557.504 570.430
    Pound Malta           725.664 755.900
    Turkish pound (100)     0.074   0.077
    French franc           49.195  50.336
    Swiss franc           202.269 206.958
    Belgian franc           7.999   8.185
    German Mark           164.992 168.818
    Finnish Mark           54.274  55.533
    Dutch Guilder         146.434 149.829
    Danish Kr.             43.440  44.447
    Swedish Kr.            36.029  36.865
    Norwegian Kr.          38.583  39.477
    Austrian Sh.           23.451  23.995
    Italian lira (100)     16.666  17.052
    Yen (100)             250.401 256.206
    Spanish Peseta          1.939   1.984
    Port. Escudo            1.610   1.647
    
    Foreign Exchange      Buying  Selling
    New York              300.844 307.819
    Montreal              198.519 203.122
    Sydney                189.432 193.824
    London                486.397 497.675
    Dublin                409.742 419.242
    Nicosia               557.504 570.430
    Paris                  49.195  50.336
    Zurich                202.269 206.958
    Brussels                7.999   8.185
    Frankfurt             164.992 168.818
    Helsinki               54.274  55.533
    Amsterdam             146.434 149.829
    Copenhagen             43.440  44.447
    Stockholm              36.029  36.865
    Oslo                   38.583  39.477
    Vienna                 23.451  23.995
    Milan                  16.666  17.052
    Tokyo                 250.401 256.206
    Madrid                  1.939   1.984
    Lisbon                  1.610   1.647
    
    Athens News Agency

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