Athens News Agency: News in English (PM), 99-01-04
NEWS IN ENGLISH
Athens, Greece, 04/01/1999 (ANA)
MAIN HEADLINES
- Greek stocks surge on euro optimism
- Ministry: sharp fall in inflation in first half '99
- Fishermen protest EU directives
- Papantoniou to speak to foreign press
- Desecrations, thefts at two cemeteries
- Tsovolas in Cyprus today
- Group claims American College explosion
- OA pilots' work-to-rule strike
- Weather
- Foreign Exchange
NEWS IN DETAIL
Greek stocks surge on euro optimism
The Greek stock market warmly welcomed the birth of the euro and the start
of a new year with equity prices hitting new record highs on the first
trading day of 1999. The general index ended a spectacular 6.71 percent
higher to 2,921.28 points, surpassing the previous record of 2,825.52 of
July 21, 1998. Turnover was 106.8 billion drachmas reflecting strong buying
interest by foreign institutional investors for blue chip stocks,
particularly banks and industrials.
Ministry: sharp fall in inflation in first half '99
Greek inflation is expected to fall rapidly in the first half of 1999
pushing interest rates substantially lower in the last six months of the
year, a national economy ministry report forecast. The report, published on
Monday, notes that although significant progress has been made on lowering
public deficits in recent years, insurance funds' deficits were holding
back fiscal restructuring in the public sector. The report recommended
urgent measures to restructure the country's social insurance system.
Fishermen protest EU directives
Fishermen kept their trawlers docked in Greece's second largest port city
of Thessaloniki, as part of a natiowide protest against a European Union
directive which they claim is detrimental to their interests. The fishermen
are protesting Community Directive 1626 limiting the fishing zone and
increasing the size of the meshing of fishing nets used by fishermen.
Panhellenic Trawler Owners Union vice-president Theodosis Maritsas told the
ANA that the Directive prohibits fishing in a zone of three miles from the
coasts. The trawler owners are seeking postponement of implementation of
the Directive until May 31, when the fishing season ends for trawlers,
and immediate commencement of procedures for its amendment or indefinite
postponement.
Papantoniou to speak to foreign press
National economy and finance minister Yannos Papantoniou will be the first
guest speaker of the Foreign Press Association's 1999 series of luncheons.
Papantoniou will address the January 27 event, to be held at the Divani
Caravel hotel in Athens, focussing on the Greek economy and recent European
developments. He will also answer questions from the floor. The luncheon
begins at 1:00, and reservations are on a first come-first served
basis.
Desecrations, thefts at two cemeteries
Workers at two cemeteries in the Lagada district of Thessaloniki reported
damage to about 200 graves on Monday. Items worth 850,000 drachmas and
including bronze crosses, vases, candles and railings were stolen from the
Lagada cemetery, they said. Damage to about 200 marble tombstones were
noted. At the Lagadikon cemetery, workers said items worth 300,000 drachmas
were stolen and about 20 graves damaged.
Tsovolas in Cyprus today
Democratic Social Movement (DHKKI) leader Dimitris Tsovolas is visiting
Cyprus today, in the wake of recent developments over the issue relating to
the deployment of Russian S-300 missiles in Crete. Mr. Tsovolas, to be
accompanied by his party's press spokesman and Political Secretariat member
Manolis Bakopoulos, will hold successive meetings with Cyprus political
party leaders and other officials. He will return to Athens tomorrow
afternoon.
Group claims American College explosion
An makeshift explosive device exploded at the American College, on Amalias
Ave., Syntagma Square, last night causing damage to the building's door,
but no injuries. The "Anti-Power Struggle" group claimed responsibility for
the incident by phoning radio and television station Sky and daily
Athinaiki. An anonymous caller said the act was to protest the government's
education reforms programme.
OA pilots' work-to-rule strike
Transport Minister Tassos Mandelis was due to meet with representatives of
Olympic Airways pilots on Monday to lift a work-to-rule strike by the
pilots which caused problems in flight schedules over the weekend. On
Saturday an OA flight from London originally scheduled for Athens via
Thessaloniki skipped Thessaloniki, resulting in a two-hour occupation of
the aircraft at Hellinikon airport by the 86 passengers who were destined
for Thessaloniki. The passengers were eventually talked into leaving
the plane by Civil Aviation representatives and were taken to a Glyfada
hotel to stay for the night. They flew for Thessaloniki Sunday morning.
WEATHER
The weather today will be overcast with scattered showers likely to turn to
snow in the mountainous regions. Athens will be partly cloudy with rain,
abating later in the day, and temperatures from 9-13C. Same in Thessaloniki,
with temperatures ranging from 5-8C.
FOREIGN EXCHANGE
Monday's rates (buying) U.S. dollar 280.309
Pound sterling 464.137 Japanese yen (100) 245.907
French franc 49.866 German mark 167.152
Italian lira (100) 16.895 Irish Punt 415.747
Belgian franc 8.107 Finnish mark 55.006
Dutch guilder 148.418 Danish kr. 43.928
Austrian sch. 23.776 Spanish peseta 1.967
Swedish kr. 34.522 Norwegian kr. 36.831
Swiss franc 203.320 Port. Escudo 1.634
Aus. dollar 171.616 Can. dollar 179.850
Cyprus pound 561.770
(M.P.)
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