Athens News Agency: News in English (AM), 97-10-30

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

NEWS IN ENGLISH

Athens, Greece, 30/10/1997 (ANA)

MAIN HEADLINES

• Premier chairs meeting on Balkan leaders' summit in Crete
• Turkish military's role an obstacle to EU, article says
• Greek military chief attends Turkish embassy reception
• Greece to keep short-term rates steady after pressure on drachma
• Bank of Greece moves to support the drachma
• Greek stocks plunge in spin-off from market dive abroad
• Northern Greek industries post 34.2 drop in 1996 profit
• Report on boosting Greek industry's competitiveness unveiled
• Pharmacists to begin nationwide strike tomorrow
• Poland blames Gligorov for diplomatic row
• Parmenion '97 military exercise begins tomorrow
• Extended weekend traffic fatalities less than '96
• SETE elected to VP seat in World Tourism Organisation
• Petrol prices rise
• Taller Greeks confuse Australian scientists
• Weather
• Foreign exchange

NEWS IN DETAIL

Prime Minister Costas Simitis chaired a meeting yesterday on preparations for the Balkan summit to be held in Crete on Nov. 3 and 4.

No statements were made after the meeting, but according to diplomatic sources, discussion focused on the draft communique to be tabled for adoption by the heads of state and government attending the summit.

ANA sources say the draft communique, to be adopted as the "Crete Declaration", refers to the consolidation of generally accepted rules and provisions of international law regarding the self-evident international obligations of states, such as respect f or territorial integrity, the status quo regarding borders, the non-use of force or the threat of force as well as the peaceful resolution of differences.

The declaration will also refer to cooperation in the sectors of economy, industry, tourism and culture between Balkan states and the creation of a stable climate of friendly relations.

Countries to be represented at the summit (Greece, Albania, Bulgaria, Yugoslavia, FYROM, Romania and Turkey) are also expected to agree to regular political consultations at all levels, as well as systematic cooperation by police forces to fight organised crime, smuggling and illegal immigration.

Turkish military's role an obstacle to EU, article says

Germany's "Suddeutsche Zeitung", led its Tuesday edition with a feature on the Turkish military's major role in that country's politics and how it adversely affects Turkey's relations with the European Union (EU).

The article points out that the EU is concentrating on human rights and the Kurdish problem, the Cyprus issue and inflation, instead of paying attention to the way in which the military intervenes in Turkish politics. The author explains by writing that "the (army) officers still have the last word in Turkey on all issues. The view they have hold for their role touches on fantasy of omnipotence and they see their country as an army barracks. Criticising them for being a 'state within a state' would be c onsidered an insult, since the officers are the state".

The article's author calls Turkey's form of government as a "military democracy", and asks how it is possible for a country where the army general staff "pulls down a government and puts up a coalition it prefers" to become a member of the EU.

"How could one accept a situation where the military carries on a war as it sees fit, invades neighbouring countries and sets its own limits on its budget without even bothering to consult the government of the country?" it asked.

"Is there a European country where generals, going against the will of the prime minister, may convene a high governent body with jurisdictions of a dictatorial nature?" the article states.

Greek military chief attends Turkish embassy reception

National Defence General Staff Chief Gen. Athanasios Tzoganis yesterday attended a reception at the Turkish embassy in Athens for the double occasion of the neighbouring country's national day and the forthcoming departure of Turkish Ambassador Umit Pamir .

Gen. Tzoganis told reporters afterwards that his presence signalled the desire of the Greek people and their armed forces for broad cooperation with all nations, while reiterating that "the armed forces are ready and resolved to defend the country's territorial integrity".

Mr. Pamir expressed optimism over the forthcoming Simitis-Yilmaz meeting on Crete this Monday, noting that the Turkish prime minister is coming to the Balkan leaders' summit with a positive spirit and with a constructive disposition.

He expressed the hope that Greek-Turkish relations, the framework of which was quite fragile, would normalised, as the two peoples have to co- exist.

Greece to keep short-term rates steady after pressure on drachma

Government spokesman Dimitris Reppas said yesterday that the government did not plan to raise short-term interest rates to ward off pressure on the drachma.

The national currency has been under pressure for several sessions, hit mainly by speculators in London.

No turmoil was reported by early yesterday afternoon.

The Athens bourse's sharp fall yesterday reflected a plunge in stock markets abroad and did not signify flagging confidence in the Greek economy, Mr. Reppas said.

Bank of Greece moves to support the drachma

The Bank of Greece intervened once again yesterday to support the drachma in the domestic foreign exchange market spending 410 million Ecus to prop up the Greek currency.

The central bank was also active in the money market driving rates down to 12-13 percent from 14 percent in early trade.

The Bank of Greece has spent around 1.5 billion Ecus since Monday to ward off speculators, mainly in London.

Greek stocks plunge in spin-off from market dive abroad

Greek equities yesterday came under heavy pressure to end at their lowest level since September 5 as foreign institutional investors again dumped stock in order to help recoup losses from a market plunge abroad.

The Athens general share index closed at 1,604.98 points, losing 2.87 percent. The market was 7.54 percent down since last Thursday when the crisis began in Hong Kong. Trade was heavy with 29 billion drachmas changing hands.

Traders said the market was creating a new support level around 1,600 points and predicted a technical rebound following a spectacular recovery in international markets on Wednesday.

Foreign institutional investors continued to liquidate their holdings in the Greek market with Wednesday's sell-off focused on Hellenic Telecommunications Organisation, and blue chips Titan Cement and Alpha Credit Bank.

All sector indices lost ground. Banks dropped 2.52 percent, Insurance eased 0.91 percent, Leasing was 0.02 percent off, Investment fell 1.30 percent, Construction plunged 3.40 percent, Industrials nosedived 3.88 percent, Miscellaneous ended 3.98 percent down and Holding was 3.82 percent lower.

The parallel market index for small cap companies ended 3.28 percent down.

Broadly, decliners led advancers by 194 to 26 with another 18 issues unchanged.

Follie-Follie, Britania, Levenderis and Radio Athina scored the biggest percentage gains, while Ridenco, St.George Mills, Pairis and Elfico suffered the heaviest losses.

National Bank of Greece ended at 30,100 drachmas, Ergobank at 17,650, Alpha Credit Bank at 19,200, Delta Dairy at 3,700, Titan Cement at 14,300, Intracom at 13,850 and Hellenic Telecommunications Organisation at 6, 135.

Northern Greek industries post 34.2 drop in 1996 profit

Northern Greece industries posted an average 34.2 percent profit drop in 1996 but an anticipated expansion into the Balkans could help to boost revenue, ICAP, a private statistics agency, said in a survey.

The survey was conducted in Macedonia and Thrace in September based on published balance sheets by 1,260 companies in the region.

Its results were presented in Thessaloniki yesterday by ICAP's managing director, Dimitris Maniatakis.

The sharp drop in profits was attributed to stagnant sales and a nine percent rise in production costs, a trend which had made several profitable medium-sized industries loss-making.

However, industry representatives expressed their optimism for future financial results, helped by a planned expansion of northern Greek industries into the Balkans.

The survey showed that commercial firms' profits rose by 13 percent last year helped by an 18.2 percent rise in sales.

Enhancing northern Greek companies within overall Greek industry, ICAP said that according to cumulative figures from 4,997 industries, profits marked a 1.7 percent nominal increase.

Report on boosting Greek industry's competitiveness unveiled

Development Minister Vasso Papandreou yesterday unveiled a report with 29 policy proposals aimed at boosting the competitiveness of Greek industry.

The report, providing the basis for industrial strategy, is the product of broad dialogue and consensus among social partners in the sector and academics, and sets as a deadline the year 2006.

Among the proposals included are a boosting of the powers of a "Competition Commission", introduction of the concepts of "efficient size" and "network" in the investment incentives law, establishment of 'one stop-shops' for the founding of the new small and medium size enterprises in each prefecture, the definition of a new financing framework, and the development of 'venture capital', leasing and factoring facilities.

Pharmacists to begin nationwide strike tomorrow

Pharmacists seem determined to commence an indefinite nationwide strike tomorrow over drug prices, while the government reassured the public that measures taken would prevent a shortage of supplies.

The pharmacists are protesting because the government decreased the margin of profit they make per drug and lowered prices for the public. Meanwhile, drugstores reported that the public, especially elderly, were flocking to their stores to get more than the necessary number of supplies, for fear of shortages. They said that shortages had already started appearing in popular pain killers, heart drugs and antibiotics. Health Undersecretary Manolis Skoulakis called on drug store owners not to go on strike, and said if shortages occurred during an extended strike, the public would be able to acquire drugs from social security (IKA) branches, hospitals and military outlets.

Drugstore union officials have said that as of tomorrow, the number of stores open by rotation include five during the day and another five at night only, or one pharmacy per prefecture.

Poland blames Gligorov for diplomatic row

The first state visit of Former Yugoslav Republic of Macedonia's President Kiro Gligorov to Poland ended Wednesday in a diplomatic row.

Mr. Gligorov and his host, Polish President Aleksander Kwasniewski, failed to sign a planned agreement on political, economic and cultural cooperation.

The row was sparked by Mr. Gligorov's insistence that his country be referred to as "Republic of Macedonia" in the text of the agreement, the news agency PAP cited Mr. Kwasniewski as saying.

Poland insisted that Skopje signed the agreement as "Former Yugoslav Republic of Macedonia", the name under which it was admitted to the United Nations in 1993, following Greek objections that Skopje was usurping the name "Macedonia".

Poland, which has applied for NATO membership, strives to maintain good relations with all NATO member states, including Greece.

Parmenion '97 military exercise begins tomorrow

A combined large-scale military exercise codenamed "Parmenion '97" begins tomorrow in the Evros region and the eastern Aegean, with the participation of the three branches of the armed forces, the coast guard, intelligence services and the ministries of foreign affairs, press, public order and merchant marine.

The aim of the exercise, which is held annually, is to train staff officers and military units in the planning and execution of joint operations in a modern warfare environment and in general to enhance the combat efficiency of the armed forces.

The exercise will be directed by the Chief of the National Defence General Staff, General (Air) Athanasios Tzoganis.

The scenario of the exercise is a national crisis on the eastern borders which erupts into conflict after increasing tension.

The final phase of the exercise will be held in Evros and the island of Lesvos and watched by the President of the Republic Kostis Stephanopoulos, the political and military leadership of the national defence ministry and, possibly, members of the Parliament's foreign and defence committees.

Gen. Tzoganis told reporters yesterday that the exercise was not affected by the recent tension with Turkey nor by the Balkan summit on Crete early next week.

Asked whether the scenario foresaw dealing with a conflict in Cyprus, he said the exercise centred on the wider Greek area and was not connected to the two Turkish exercises currently under way in the same region.

He said that the recent holding of NATO exercise "Dynamic Mix '97" in Greece was a success for Greece, even though Turkey, for the first time, refused to participate.

Extended weekend traffic fatalities less than '96

An increased presence on national roadways by traffic police during the four-day weekend apparently had positive results, since deaths on highways for the "Ochi Day" holiday this year dropped by almost half, according to the public order ministry.

Specifically, during the same period in 1996, a total of approximately 257, 000 vehicles travelled on highways with 34 fatal accidents leaving 46 dead, 67 seriously injured and another 437 slightly injured. This year, with an estimated 262,000 cars drivi ng on national highways, there were 25 fatal accidents with 26 dead, 48 seriously injured and 377 slightly injured.

Traffic police checked a total of 1,395 drivers, of whom 164 were found intoxicated; 52 were taken to police stations; charges were filed in 122 cases and, finally, 27 vehicles were confiscated.

SETE elected to VP seat in World Tourism Organisation

The Greek Tourist Enterprises Association (SETE) has been elected to the vice-presidency of the affiliate members of the World Tourism Organisation during the body's recent general assembly in Istanbul.

The organisation, which was renamed into the International Tourism Business Council, has 375 affilitate members from the private sector worldwide.

SETE director general S. Pappas was elected to the six-member executive council.

Petrol prices rise

Gasoline prices were raised to 221.40 drachmas per litre for super and 205.40 drachmas per litre for unleaded in the Attica region and the Thessaloniki prefecture as of today and for one week. The new prices were announced yesterday following a change in international prices.

Taller Greeks confuse Australian scientists

Greeks are among the Europeans showing a sudden upsurge in their height but Australian scientists are at a loss as to why.

Studies at Australian universities have shown that Europeans are growing taller at a faster rate than Australians and South Africans over the past few decades but diet does not appear to be the primary factor.

Greeks, Italians and the British are amongst those that have shot up significantly in the 20th century, the studies say. Britons have grown an average 11cms during the past 100 years.

The tallest Europeans are the Dutch and Norwegians.

WEATHER

FOREIGN EXCHANGE

(C.E.)

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