Athens News Agency: News in English (AM), 97-11-01
NEWS IN ENGLISH
Athens,Greeece,01/11/1997 (ANA) MAIN HEADLINES
- Pharmacists suspend strike
- Premier says battered drachma out of storm
- Greek central bank intervenes again to buffer drachma
- Greek stocks plunge again over rate hike jitters
- Greece may get tourism chamber
- Labour ministry remains optimistic amid int'l turbulence
- Greece unhappy with new foreign investment act in Bulgaria
- Southeast European summit begins on Monday
- Gov't condemns violent protests outside Greek-Turkish symposium
- Greek-turkish seminar participants schedule further meetings
- Gov't says EU expansion talks should be all-encompassing
- EIB's Yennimatas comments on EU customs, Greek-Turkish relations
- European Jewish Council leader in Thessaloniki
- Bonn rejects Greek court ruling on WWII reparations
- Weather
- Foreign Exchange
NEWS IN DETAIL
Pharmacists suspend strike
Representatives of Greek pharmacists' unions decided to suspend their
strike last night at the end of a prolonged meeting.
After the government satisfied one of their main economic claims, namely,
an increase in their profit percentage in medicines retail prices from 21
to 24 per cent, the pharmacists decided to embark on a dialogue with
relevant bodies on their institution al claims and will reconsider their
position by Dec. 20, as they said, when they will take new decisions.
Different views were also heard at the meeting which according to reports
concerned some provincial unions which expressed opposition to the
suspension of the strike but were ultimately convinced by the majority.
Following this development, the unions said they will go ahead as soon as
possible with the regular operation of all pharmacies on duty during the
day and at night over the weekend and, if possible, all pharmacies will
open on Monday.
Premier says battered drachma out of storm
Prime Minister Costas Simitis predicted that recent attacks from abroad on
the drachma had evaporated although he did not rule out fresh pressure in
the future, sources said yesterday.
Addressing a weekly Cabinet meeting, Mr. Simitis reportedly told ministers
that the economy had taken a jolt and the aftershocks were being felt. But
he warned that new pressure could not be ruled out.
The economy had shown endurance, but it needed to toughen up further in
order to win the battle against speculators, he said.
Government spokesman Dimitris Reppas said a previous monetary crisis in
1994 on the eve of a deadline to scrap restrictions on capital movement had
ended shortly after it erupted.
The government spokesman acknowledged that a rise in domestic interest
rates was necessary but temporary. Side-effects on the economy would be
dealt with after the turmoil was over.
Greek central bank intervenes again to buffer drachma
The Bank of Greece intervened in interbank trade yesterday to aid the
drachma by soaking up 120 billion drachmas, pushing rates sharply
higher.The central bank absorbed the cash from commercial banks at 150 per
cent.
As a result, tensions subsided in the domestic foreign exchange market with
the drachma strengthening against the Ecu.
The US dollar was fractionally higher against the drachma, reflecting a
rebound in international markets, while the deutschmark ended moderately
lower.
Greek stocks plunge again over rate hike jitters
Greek equities ended the week sharply lower reflecting market worries over
a sharp rise in domestic interbank interest rates. The Athens general share
index lost 4.02 percent to end at 1,488.53 points, its lowest since June 23,
showing a total loss of 12. 24 percent in the week.
The Athens Stock Exchange has fallen 14.25 percent since last Thursday when
a crisis erupted in international stock markets. The FTSE/ASE index ended
11.45 percent down after the four trading sessions of the week, ending at
871.84 points. Tuesday was a holiday.
Trading remained heavy and turnover was 36.9 billion drachmas. The week's
turnover totalled 177.277 billion drachmas, marking a daily average of 44.3
billion.
Greece may get tourism chamber
Greek tourism groups plan to set up a chamber of tourism in order to act in
unison and better promote the key sector of the economy, officials of the
Panhellenic Tourism Enterprises Federation (POET) said yesterday. The
officials were speaking at a news conference called to announce that key
travel agency trade unions had merged with POET, bringing the sector one
step closer to unification.
POET's next target was to create a confederation to represent all sectors
of the industry, the officials said.
Labour ministry remains optimistic amid int'l turbulence
The labour and social insurances ministry expressed optimism yesterday over
the end to recent monetary and credit turbulence at the official opening of
the Federation of Bank Employee Unions' (OTOE) conference.
Labour Minister Miltiades Papaioannou said the course of the Greek economy
is good and on this basis a response will be given to every speculator with
the cooperation of the Bank of Greece.
Labour Undersecretary Christos Protopapas said a tough battle is taking
place at present since what he termed "capitalism casino" offered
assurances that the government will not allow speculators to have a
negative influence on the economy.
Greece unhappy with new foreign investment act in Bulgaria
Greece is not satisfied with the new amendments to the Promotion and
Protection of Foreign Investment Act, Greek Commercial Attache to Bulgaria
Georges Doudoumis told journalists Thursday.
The provision giving preferential treatment to investments of over US$ 5
million excludes 99 per cent of Greek investors, who have invested up to
US$ 1.5 million each.
The way things are, many Greek investors will opt to invest in Romania, Mr.
Doudoumis said.
Greece is the third largest investor in Bulgaria according to Greek figures,
said Mr. Doudoumis, although Bulgarian figures show that it ranks eighth.
The discrepancy is due to the fact that the bulk of Greek capital flows in
through Luxembourg and Cypr us, Mr. Doudoumis explained.
Southeast European summit begins on Monday
A much-anticipated summit of southeast European countries will begin on
Monday in Crete, the result of an initiative by Athens,as most heads of
state or government will arrive on the island on Sunday.
Among the statesmen expected to arrive are leaders from Albania, Bulgaria,
the Federal Republic of Yugoslavia, the Former Yugoslav Republic of
Macedonia (FYROM), Romania and Turkey, while Bosnia also announced that it
was sending a representative. Greec e will, of course, host the event.
Bosnia yesterday informed Athens that it would be attending the two-day
southeast European countries summit, which opens on Monday. An announcement
said Bosnia would be represented by Deputy Foreign Minister Mikovil
Malbasik. Bosnia-Herzegovina, unlike Croatia or Slovenia, who do not
consider themselves Balkan or southeastern European countries, has agreed
to participate in the summit where it is expected to focus on issues
related to the peace process in Bosnia and the assistance it could expect
from other nations in the region.
Gov't condemns violent protests outside Greek-Turkish symposium
The government yesterday strongly condemned scuffles between police and
demonstrators outside the Thessaloniki Chamber of Commerce on Thursday
night, where Greek and Turkish businesspeople were scheduled to participate
at a symposium on Eleftherios Ven izelos and Mustafa Kemal Ataturk.
"Greece does not approve of unlawful and adventurist activities by
intolerant elements," government spokesman Dimitris Reppas said.
He said the Turkish participants had been briefed on the government's
stance on the incidents, adding that the government did not feel obliged to
apologise for the behaviour of the demonstrators P who shouted slogans
against Turkey and threw objects at those attempting to enter the building
P saying Athens was taking a political position.
If blame is to be attributed, then it will be done by the police, he
said.
The Commercial and Industrial Chamber of Thessaloniki issued an announcement
stressing that "no one had the right to be self-declared to a patron" of
Thessaloniki's people.
It further said "the people of Thessaloniki had their own history and
contribution to the significant matters of democracy, peace and understanding
between people".
Greek-Turkish seminar participants schedule further meetings
Turkish participants at the "Thessaloniki: Eleftherios Venizelos - Kemal
Ataturk" seminar on Thursday night recommended the holding of a congress in
Istanbul on March 25 next year regarding "Hellenism in Constantinople and
the contribution of the Ecumeni cal Patriarchate to Orthodoxy".
The proposal was forwarded to the members of "Union for Democracy in the
Balkans," whose Greek branch organised Thursday's seminar.
Union president and until recently president of the Union of Northern Greek
Industrialists, Nikos Efthymiades, told the ANA that the congress coincided
with the Union's plan for a congress on a similar theme in spring in
Istanbul, with the participation of political figures from Greece and
Turkey.
He was concerned, however, at the date chosen by the Turkish participants
because, as he said, he feared the danger of incidents, similar to those in
Thessaloniki on Thursday.
Gov't says EU expansion talks should be all-encompassing
The Cabinet yesterday reaffirmed its position that EU enlargement talks
should in addition to Cyprus also include the other 10 countries which have
applied for EU membership.
According to a decision of the European Commission, negotiations on Cyprus'
accession will begin on April 2 next year, while negotiations will also
commence with a further five countries - Poland, Hungary, the Czech
Republic, Slovenia and Estonia - with out any specific date having been
set.
"Greece believes that in addition to these countries, negotiations should
also begin with the other five countries, namely, Bulgaria, Romania,
Lithuania, Latvia and Slovakia," government spokesman Dimitris Reppas said
after the Cabinet meeting.
The spokesman said Greece was not opposed to Turkey's efforts to come
closer to Europe, provided the criteria set by the EU itself were
satisfied.
Mr. Reppas said Greece did not support a French proposal for the establishment
of a forum with the participation of the present EU member-states, the 11
countries now seeking membership and Turkey, given that Athens wanted the
eleven to become full memb ers of the Union.
Despite this, he added, Greece would consider the possibility of a special
relationship being developed between the EU and Turkey, while noting that
the EU-Turkey customs association would proceed if an end was put to the
Imia issue, which Ankara itself had created.
EIB's Yennimatas comments on EU customs, Greek-Turkish relations
Turkey's customs union with the European Union unites Greece and Turkey
with common interests European Investments Bank (EIB) Vice-President
Panayiotis Yennimatas said in an interview with the Turkish newspaper
"Hurriyet."
"In any event, the customs union is the framework for a lasting and deep
cooperation, and both countries have to invest in it. The customs union is
the common interest that binds each country to the Union but, significantly,
to one another as well," he said.
The newspaper published statements made by Mr. Yennimatas to the newspaper's
correspondent Athena Nour Batour in its inside pages, saying that Mr.
Yennimatas is one of the most powerful representatives of the new spirit
evident in Greece for Turkey over the past two years.
European Jewish Council leader in Thessaloniki
Executive Director of the Council of European Jewish Communities Michael
Mei gave a press conference in Thessaloniki yesterday in view of the
release of a second list of 17,000 names of Jewish depositors in Swiss bank
accounts that had remained dormant si nce the Holocaust.
A list of 1,700 names was published three months ago, while another 30,000
applications from depositors' relatives are still pending.
The accounts had been "buried" in the bank vaults since the Second World
War. Jewish organisations have alleged that the banks deliberately
concealed the existence of these accounts.
The issue is to be discussed at this weekend's meeting of the Council in
Thessaloniki, with the participation of leading figures from Jewish
communities around the world.
Thessaloniki Jewish Community President Andreas Sefiha announced that on
November 23, President of the Republic Kostis Stephanopoulos would unveil a
monument to the 50,000 Greek Jews who died in the Nazi camps.
He said that a US Congress delegation led by Foreign Affairs Committee
president Ben Gilman would attend the ceremony.
Bonn rejects Greek court ruling on WWII reparations
The German government said yesterday it would not comply with a Greek
provincial court ruling ordering Bonn to pay a Viotia prefecture village
some US$32 million in World War II reparations.
Bonn's rejection came as the latest blow to several Greek citizens'
attempts to secure individual compensation claims for their suffering
during the Nazis' 1941-1944 occupation.
"The cases before Greek courts, in which the claims of Greek individuals
are being heard against Germany because of events during World War II do
not conform with international law," Alexander Alard, a high-ranking of the
chancellery's press secretaria t official told ANA.
"For this reason corresponding lawsuits against Germany before Greek courts
are unlawful. We have repeatedly made this legal position clear to the
Greek government," he added.
A court in the central Greek city of Livadeia ordered Germany on Thursday
to pay $32 million in reparations to the village of Distomo, where 214
residents were executed by occupying Nazi soldiers on June 10, 1944.
Yannis Stamoulis, the prefect of Viotia and a former European parliament
deputy for the ruling PASOK party who has been leading the campaign for
reparations, has vowed to take the case to the International Court at The
Hague or the Council of Europe if
Germany refused to pay.
Reacting to verdict on Thursday, Mr. Stamoulis said the ruling meant the
families of more than 130,000 Greeks executed during the war, another 300,
000 who died from hunger and the owners of 125,000 houses destroyed could
be eligible to sue for damages.
Greek cities suffered from hunger during the occupation and many villages
were razed and their residents executed for fighting the Nazis or
cooperating with the resistance movement.
Weather
Today southern Greece will be overcast with rain and local thunderstoms.
The rest of the country will have local cloud with scattered showers mostly
in central regions. Winds will be easterly, strong to very strong reaching
galeforce in parts. Similar weather is forecast for tomorrow with the winds
easing. Athens will be overcast with the possibility of rain in northern
Attica and Sunday's temperatures ranging from 12 to 16 degrees centigrade.
Thessaloniki will have local cloud. Temperatures for tomorrow 4-14C.
Foreign Exchange
Friday's closing rates - buying US dlr. 269.149
Pound sterling 450.170 Cyprus pd 528.042
French franc 46.529 Swiss franc 191.992
German mark 155.843 Italian lira (100) 15.885
Yen (100) 224.529 Canadian dlr. 191.178
Australian dlr. 188.986 Irish Punt 403.942
Belgian franc 7.558 Finnish mark 51.892
Dutch guilder 138.260 Danish kr. 40.999
Swedish kr. 35.807 Norwegian kr. 38.321
Austrian sch. 22.157 Spanish peseta 1.846
Port. Escudo 1.528
(K.G.)
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