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Athens News Agency: News in English (PM), 99-06-10Athens News Agency: News in English Directory - Previous Article - Next ArticleFrom: The Athens News Agency at <http://www.ana.gr>NEWS IN ENGLISHAthens, Greece, 10/06/1999 (ANA)MAIN HEADLINES
NEWS IN DETAILNATO convoy lands at Litochoro, heads for peace force in FYROMA convoy of some 1,200-1,500 US marines destined for the peacekeeping force in Kosovo set out Friday morning from the Gritsa port in Litochoro, outside Thessaloniki, under heavy police guard en route to FYROM to join the NATO peacekeeping force and from there eventually to Kosovo. The marines had been in waiting nearly a week on two warships and a helicopter carrier in the Aegean waiting for Greek government permission to land at Litochoro and from there to FYROM to join the NATO peacekeeping force that will assist implementation of the Kosovo peace agreement. The Greek government had issued a 10-day prohibition on the passage of foreign troops through Greek territory in the run-up to the June 13 Euroelections. It said on Monday, however, that the conditions were completely different than when the prohibition was enforced since the peacekeeping process had now been set in motion, adding that Greece would facilitate the situation so that there would be no security vacuum after the withdrawal of the Serb forces from Kosovo. Disembarkation of the marines at Litochoro by amphibious vessels began at 6:30 a.m., while hovercraft and small ferries were transporting light armour and hummer-type jeeps. Some 1,200-1,500 marines are being transported to FYROM, and from there eventually to Kosovo, while another 500 troops will remain on the ships in administrative back-up capacity. A large number of coaches and trailer trucks were waiting at the port to transport the troops and equipment. The convoy of trailer trucks and coaches set out around 10:00 am from Gritsa heading for the Greek-FYROM border towing the NATO equipment and vehicles and transporting the marines. No protests broke out during the landing at Gritsa or along the national highway as the convoy headed for the FYROM border. A Litochoro municipal council decision had said the local residents would attempt to avert the passage of the military vehicles and troops if it took place before a Yugoslav peace accord was signed. About 300 Communist Party of Greece (KKE) supporters who had gathered at dawn near the Gritsa coast were kept back, for security reasons, by 15 squads of police officers, and lined up along the convoy's route shouting anti-NATO slogans. The KKE's local organisation in Thessaloniki has called a rally for this evening in central Thessaloniki to protest the transport of military forces to FYROM via Greece despite the signing last night of a Kosovo peace deal. Meanwhile, a convoy of 45 Canadian Army vehicles, comprising small trucks and jeeps, left Thessaloniki port at 4:30 a.m. heading for FYROM under a strong Greek army and police escort. Gov't continues seizures of Belgian food products Greece's development and agriculture ministers announced yesterday that a laboratory equipped to test food products on dioxin-content would soon be established in the country. Development Minister Evangelos Venizelos also told reporters after an inter- ministerial meeting that there were no problems with domestic fresh pasteurised milk, while Agriculture Minister George Anomeritis reiterated that Greece did not import animal feed from Belgium. The ministers said the Greek government would demand from the responsible EU bodies that uniform controls are established for foodstuffs in the EU. Replying to questions, Mr. Venizelos said evaporated light milk imported from Belgium had been seized. Mr. Anomeritis gave reassurances that the animal feed sector, where the dioxin contamination originated, was tested and it was verified that no animal feed originating from Belgian suppliers had been imported or used by Greece's industries. Based on official data, the agriculture ministry has confiscated 80-90 per cent of foodstuff imports from Belgium, including 198 tonnes of beef, 356 tonnes of pork, 683 tonnes of poultry, 136 tonnes of other meat products, 949 tonnes of milk and its by-products, 12 tonnes of eggs and 187 tonnes of egg products. Replying to questions regarding the impounding of products mainly used by vulnerable groups, such as breastfeeding mothers and children, both ministers said that fresh pasteurised milk is locally produced. Thessaloniki at the centre of Balkan reconstruction effort Foreign Minister George Papandreou yesterday said that Thessaloniki will become the centre for efforts aimed at the reconstruction of Yugoslavia. Speaking in a pre-election PASOK rally in Larisa, Mr. Papandreou said "the reconstruction of Yugoslavia should forge ahead without terms and conditions. The terms and conditions of the peace process should be enough for Yugoslavia to be included in the process of reconstruction." He added Greece's efforts toward peace have promoted it as a reliable partner. Mr. Papandreou will depart for Cologne today to sign the Stability Pact. Finally, Mr. Papadreou announced an international conference in Thessaloniki next month for the coordination of humanitarian aid efforts in the region. Market welcomes buyout plan by EFG Eurobank, Deutsche Bank Market players yesterday welcomed a move by EFG Eurobank with Deutsche Bank to acquire a majority stake in Ergobank, a blue chip on the Athens bourse. An abrupt rise in the Athens share index early in the session stemmed from euphoria about the acquisition. In a plan announced on Tuesday, the two banks aim to buy a maximum 50.1 percent stake in Ergobank but would settle for a minimum of 33.4 percent. Deutsche Bank is already a shareholder in EFG Eurobank, which is a member of the Latsis Group that recently gained listing on the Athens bourse. Both Ergobank and EFG Eurobank ended eight percent higher yesterday, at the daily upper volatility limit. On Tuesday, EFG Eurobank's parent, Consolidated Eurofinance Holdings, raised its existing 9.41 stake in Ergobank to 15.57 percent through block trades on the Athens Stock Exchange. The purchase was effected through the acquisition of 2.16 percent of Ergobank's shares through the stock market, and the acquisition of a 4.01 stake by EFG Eurobank. Consolidated Eurofinance Holdings and Deutsche Bank together own 20.57 percent of Ergobank. The EFG Bank Group is offering shareholders of Ergobank 110 shares in EFG Eurbank for 50 held in Ergobank plus a cash sum of 200,000 drachmas per block. The month-long share offer will be held as soon as the prospectus is endorsed by the Athens Stock Exchange and the capital markets commission. A licence from the central bank is also needed. The move will make the EFG Banking Group the third largest in Greece, following the National Bank of Greece Group and Alpha Credit Bank Group. Stocks nose up in cautious trade Equity prices ended slightly higher yesterday reflecting caution among investors over talk of liquidity problems facing brokerages. The general index ended 0.15 percent higher at 4,060.10 points, sharply off the day's highs of 2.19 percent early in the session. Traders said a wave of profit-taking hit the market and partly reversed a rally, which was spurred by the acquisition of stock in listed Ergobank by EFG Eurobank and Deutsche Bank of Germany. Dominating the market later in the session were profit-taking and worries about rumoured shortfalls among brokers. Trading focused on Ergobank, Eurobank, General Bank and Duty Free Shops, which is in the final stage of a new privatisation attempt. Turnover was 180.959 billion drachmas with 33,010,984 shares changing hands. Sector indices ended as follows: Banks (+1.15 pct), Leasing (+0.63 pct), Insurance (+0.28 pct), Investment (+0.96 pct), Construction (-2.29 pct), Industrials (-0.84 pct), Miscellaneous (-1.20 pct) and Holding (-1.23 pct). The parallel market index fo r smaller capitalisation stocks ended 0.24 percent lower, while the FTSE/ASE 20 index for heavily traded stocks and blue chips rose 0.57 percent to 2,431.93 points. Broadly, decliners led advancers by 163 to 120 with another 13 issues unchanged. Bank of Cyprus set to be first foreign firm on Athens bourse The Bank of Cyprus will be the first foreign company to be listed on the Athens Stock Exchange, the bank's chairman told the Athens News Agency in an interview. Solon Triantafyllides, who heads the Bank of Cyprus Group, also said that the bank planned to set up an insurance desk in Greece to provide services for the bank's customers. The decision on entry lay with the board of the Athens Stock Exchange, he explained. A condition for entry was that a 15 percent stake of the bank's equity would be offered to foreign investors. Mr. Triantafyllides said that the Bank of Cyprus Group's operating profit in the first quarter of 1999 totalled 15.2 million Cyprus pounds from 12.6 million in the same period last year, an increase of 20.4 percent. Alpha Credit Bank share capital increase Alpha Credit Bank successfully concluded an increase in its share capital by 132 billion drachmas yesterday, increasing the bank's own capital to 518 billion drachmas. The increase in share capital was considered necessary to enable the bank, following the buyout of a majority stake in Ionian Bank, to maintain the indicator of its capital adequacy at a level exceeding 10 per cent. Meanwhile, the Ionian's general assem bly will take place on June 29, during which the course of its merger processes with Alpha Credit Bank are expected to be disclosed. The merger between the two banks, according to past statements by Alpha Credit Bank President Yiannis Kostopoulos, is expected to be completed by spring next year. Finnish FM Halonen in Athens for talks Prime Minister Costas Simitis received Finnish FM Tarja Halonen in Athens yesterday, her first stop on a tour of EU capitals in view of Helsinki's assumption of the rotating six-month EU presidency on July 1. Ms Halonen, who last month was nominated by her Social Democratic Party for next year's presidential elections in Finland, also held talks earlier in the day with her Geek counterpart George Papandreou and Alternate FM Yiannos Kranidiotis. Speaking to reporters after talks between the two countries' foreign ministry delegations, Mr. Papandreou hailed Finnish President Martti Ahtisaari's efforts for "peace soon in Kosovo and for the commencement of reconstruction efforts in the region". In addition to the Kosovo crisis, the two delegations also discussed the Finnish EU presidency's priorities, with emphasis on EU enlargement, EU- Turkey relations, Cyprus' EU accession course, the European defence and security identity, a human rights charter, as well as unemployment. Ms Halonen stressed the excellent level of relations betweeen the two countries, adding that the Finnish EU presidency placed increased importance on technical reforms in the EU, enlargement, and the efforts to bring the Union closer to the European citizens. She also announced that Finland intended to call an extraordinary EU summit in October in the city of Tampere, near Helsinki, on matters concerning protection of the citizen, combatting crime and the building of a Europe that was closer to its citizens. Ms Halonen praised Greece, and Mr. Papandreou personally, for their intensive efforts towards finding a political solution to the Yugoslav crisis. Acting government spokesman Nikos Athanasakis said later the talks between Mr. Simitis and Ms Halonen had focused on the latest developments in the Yugoslav conflict. He said Ms Halonen had expressed satisfaction concerning Athens' active role in efforts to find a peaceful solution to the crisis. Mr. Athanasakis stressed that Greece had been active in the entire peace process, with Mr. Papandreou participating in all the efforts made not only in European capitals but also in Bejing and Washington. KKE against gov't intent to send peacekeepers to Kosovo Communist Party of Greece (KKE) Secretary General Aleka Papariga yesterday criticised the government's decision to participate with a brigade in the Kosovo peace force. Ms Papariga said "the prime minister is hiding the real role of the Greek brigade and the role of the US marines that pass through Greece destined for Kosovo. Their real role is the one of an occupation army, of an army involved in ground operations. "KKE is calling upon the Greek people to be vigilant, because government and opposition claims about the conclusion of peace and the end of the war are not sound. The major problems are still open for the region and for Greece," Ms Papariga concluded. Scores of demonstrators gathered outside Gate 11 at the port of Thessaloniki at noon yesterday and then headed south for Litohoro to participate in protests at the expected disembarcation of US marines headed to Kosovo. The gathering in Thessaloniki was organised by the Communist Party of Greece (KKE). Black Sea Trade & Development Bank begins operation The long-awaited operation by the Black Sea Trade & Development Bank (BSTDB) began on June 1, the president of the multinational institution, Ersou Volkan said in Thessaloniki yesterday. The development bank will cooperate with similar organisation in efforts to aid private firms investing in regional economies and promoting development in the countries surrounding the Black Sea. Albania, Armenia, Azerbaijan, Bulgaria, Georgia, Moldova, Romania, Russia, Turkey, the Ukraine and Greece are the trustees of the bank. Britain's Burns takes 46th Acropolis Rally Briton Richard Burns was declared the winner of the 46th Acropolis Rally yesterday after withstanding late challenges from Finland's Tommi Makinen and Spaniard Carlos Sainz. Mr. Burns, driving a Subaru Imbreza WRC 99, finished the last stage of the rally with a total time of 4 hours 21 minutes and 21.2 seconds. Mr. Sainz, in a Toyota Corolla, was second with 4 hours 22 minutes and 22.5 seconds. Reigning world champion Makinen finished third with 4 hours 25 minutes and 1.02 seconds. The rally began at the foot of the Acropolis in Athens on Sunday when 114 race cars set out to cover a total distance of 1,320 kilometres in central Greece. Points gained in the Acropolis Rally count towards the world championship. WEATHERSunny weather is forecast in most parts of Greece on Thursday with showers expected in central and northern Greece in the afternoon.Winds will be variable, light to strong. Partly cloudy in Athens where temperatures will range between 20-32C. Possibility of showers in Thessaloniki where temperatures will be from 18-31C. FOREIGN EXCHANGEThursday's rates (buying) U.S. dollar 306.528 Pound sterling 491.913 Japanese yen (100) 257.067 French franc 48.991 German mark 164.308 Italian lira (100) 16.597 Irish Punt 408.041 Belgian franc 7.966 Luxembourg franc 7.966 Finnish mark 54.048 Dutch guilder 145.826 Danish kr. 43.251 Austrian sch. 23.354 Spanish peseta 1.931 Swedish kr. 35.954 Norwegian kr. 39.105 Swiss franc 201.644 Port. Escudo 1.603 Can. dollar 207.884 Aus. dollar 203.162 Cyprus pound 555.520 Euro 321.358(L.G.) Athens News Agency: News in English Directory - Previous Article - Next Article |
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