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Athens News Agency: News in English (PM), 99-01-13
NEWS IN ENGLISH
Athens, Greece, 13/01/1999 (ANA)
MAIN HEADLINES
- Central bank cuts interest rates
- Equities sink 6.21 pct
- Boat sinks after powerful explosion
- Gov't denies report on false IMF data
- Tobacco growers block national road
- Gov't urges students back to school
- Six arrested in police drug raid
- Weather
- Foreign exchange
NEWS IN DETAIL
Central bank cuts interest rates
The Bank of Greece on Wednesday announced a further reduction of its base
interest rates. It reduced interest on two-week deposits from credit
institutions by 0.25 percentage points to 12 percent, and its overnight
rate to 11.50 percent from 11.60 percent for sums up to 300 billion dr. The
central bank further reduced its Lombard rate by two percentage points to
13.50 percent, and the overdraft rate for credit institutions by two
percentage points to 20 percent.
Equities sink 6.21pct
Greek equities came under heavy pressure to end sharply lower on the Athens
Stock Exchange following a similar trend in international markets. The
general index ended 185.13 points, or 6.21 percent lower to 2,798.21,
halting a rally which started on December 15 without any intervening
significant correction. The Bank of Greece's decision to cut its intervention
rate was largely ignored by investors who seemed worried over developments
in Brazil and fears of a new financial crisis in Latin America which could
severely hurt Wall Street. Also, European stock markets reacted negatively
to figures showing that major eurozone economies were heading into
recession.
Boat sinks after powerful explosion
A Honduran-flag cruiseship sank early today off the port of Avlis where it
was docked for repairs after an explosion ripped its side, causing it to
take on water, merchant marine sources said. Initial reports said the
explosion, possibly due to an explosive device planted by unknown persons
on the left side of the ship, caused a crack from which the "Game Boy" took
on water. The Game Boy was docked at the Avlis shipyards for repairs. No
further details were given.
Gov't denies report on false IMF data
The government on Wednesday rejected a front-page article in an Athens
newspaper claiming that it had supplied the International Monetary Fund
(IMF) with false data on the country's trade balance. The article, in
today's edition of "Athinaiki", also claimed that the government had
delayed briefing the IMF about banks' reserves and that the IMF had
initiated certain proceedings against the government for providing false
data.
Tobacco growers block national road
Tobacco growers and farmers in the Aetoloakarnania region blocked the
Antirrio-Ioannina national road on Wednesday to protest low prices for
tobacco and the abolition of a popular local variety. Using farm machinery,
tobacco growers and farmers began two road blocks at 10 a.m., one at the
Aheloo bridge, near Samari, and the other at Ermitsa, near the town of
Aigrinio.
Gov't urges students back to school
The government said on Wednesday that the months-long students' protests
against education ministry reforms was waning but that the it would still
consider it a problem "even if just one school was not working". "Students
must return to their lessons and their return will be neither a concession
nor a sign of surrender or meekness... rather it will be a victory for
consensus and the future," government spokesman Yannis Nikolaou said. It is
unclear how many schools have resumed occupations, as teachers and the
education ministry on Tuesday gave conflicting figures, the former claiming
380 and the latter 200.
Six arrested in police drug raid
Six Albanians have been arrested following a lengthy police surveillance
operation and are expected to be formally charged on Wednesday after being
found in possession of over 1 kilo of heroin and a small quantity of
hashish. The six were identified as Constantinos Papas, 24, Esmeralda Papa,
23, Donika Kirdikou, 36, Nikolaos Budai, 16, Florian Budai, 26 and Leonard
Prifti, 29, all unemployed. According to police sources, the six had
organised the smuggling into Greece of large quantities of heroin from
neighbouring Albania, which they then sold to addicts in the Athens
area.
WEATHER
Cloudy weather with sunny spells will prevail throughout Greece today with
rain in the west of the country. Fog in the morning in mainland Greece.
Winds, variable, moderate to strong. Overcast from the afternoon in Athens
with temperatures between 10-17C. Same in Thessaloniki with temperatures
from 5-12C.
FOREIGN EXCHANGE
Wednesday's rates (buying) U.S. dollar 279.357
Pound sterling 454.733 Japanese yen (100) 248.446
French franc 48.962 German mark 164.212
Italian lira (100) 16.587 Irish Punt 407.802
Belgian franc 7.962 Finnish mark 54.017
Dutch guilder 145.741 Danish kr. 43.138
Austrian sch. 23.340 Spanish peseta 1.930
Swedish kr. 35.331 Norwegian kr. 37.289
Swiss franc 199.883 Port. Escudo 1.602
Aus. dollar 178.143 Can. dollar 185.246
Cyprus pound 552.266
(M.P.)
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