Athens News Agency: News in English (PM), 99-09-20

Athens News Agency: News in English Directory - Previous Article - Next Article

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

NEWS IN ENGLISH

Athens, Greece, 20/09/1999 (ANA)

MAIN HEADLINES

• PASOK MP Rokofyllos named to Kranidiotis post
• Harmonised inflation fells to 1.6% in August
• Cypriot defence minister continues visit
• Quake relief efforts continue
• Government has 'hands off' approach to ASE
• Warnings dampen sentiment
• Weather
• Foreign Exchange

NEWS IN DETAIL

PASOK MP for Aetoloakarnania Christos Rokofyllos has been named Greece's new alternate foreign minister, replacing Yannos Kranidiotis, who died in a freak air accident early last week, government spokesman Dimitris Reppas announced Monday. Reppas said that Rokofyllos would be sworn in sometime over the next few days. Rokofyllos was one of the founding members of Democratic Defence, a resistance group created in opposition to the advent of the colonels in April 1967. In October 1981, he was appointed governor of the Agricultural Bank of Greece and a year later, in 1982, ambassador to France. He was first appointed to government in 1994, when he took over as alternate industry minister, a post he held until 1995. In 1997, he was appointed head of the Greek parliamentary representation at NATO and, in April 1999, secretary of the party's foreign affairs and defence department.

Harmonised inflation fells to 1.6% in August

Greece's harmonised annual inflation rate fell to 1.6 percent in August from 1.8 percent in July, National Statistics Service said today. The harmonised rate does not replace the national consumer price index but offers comparable figures on international inflation trends. It also helps in the evaluation of the convergence criterion and price stability in European Economic and Monetary Union (EMU). Its difference from the national inflation rate is that it does not include health and education services.

Cypriot defence minister continues visit

Solid defence of Cyprus is a factor that contributes to and promotes a political solution for the divided island, Greece's Parliament President Apostolos Kaklamanis said on Monday. Kaklamanis was speaking after meeting with visiting Cypriot Defence Minister Socrates Hasikos. Developments in Cyprus' course towards European accession were discussed during the meeting. Both agreed that Alternate Foreign Minister Yannos Kranidiotis, killed in a freak plane accident last week, would be sorely missed. Hasikos said that there was excellent cooperation between the two countries' defence ministries and, personally, with Defence Minister Akis Tsohatzopoulos and said he was certain this would continue into the future.

Quake relief efforts continue

The inter-ministerial committee on tackling the problems that have arisen from the September 7 devastating earthquake in Athens will hold a meeting this evening, while premier Costas Simitis will hold consultations Wednesday with prefects of the greater Athens area on the same issue, the government spokesman said today. The spokesman, Dimitris Reppas, said Simitis would also consult on Thursday with industrialists and professionals who suffered damages in the quake. He said the Cabinet would meet Friday to discuss economic policy.

Government has 'hands off' approach to ASE

The Athens Stock Exchange operates autonomously and no one in the government has intervened or will intervene, government spokesman Dimitris Reppas said today. This did not, however, mean that the government was not interested in its operation, the spokesman added. He said an amendment was being tabled that would "improve the operation" of the bourse, and announced that soon, the government-designated ASE chairman would soon make announcements on the improvement of the bourse's operation.

Warnings dampen sentiment

Equity prices ended lower on Monday halting a five-day record rally on the Athens Stock Exchange. Official warnings over the dangers of a bubble- market undermined sentiment for smaller capitalisation stocks and led investors in the safety of blue chips. The general index ended 0.37 percent lower at 6,331.80 points, off the day's lows of 6,307. The FTSE/ASE 20 index for blue chip and heavy traded stocks, however, increased 0.97 percent. The parallel market index for smaller capitalisation stocks plunged 7.15 percent.

WEATHER

FOREIGN EXCHANGE

Monday's rates (buying)
U.S. dollar          310.962
Pound sterling       503.638
Japanese yen (100)   289.902
French franc          49.354
German mark          165.525
Italian lira (100)    16.720
Irish Punt           411.064
Belgian franc          8.025
Finnish mark          54.449
Dutch guilder        146.906
Danish kr.            43.547
Austrian sch.         23.527
Spanish peseta         1.945
Swedish kr.           37.412
Norwegian kr.         39.313
Swiss franc          201.927
Port. Escudo           1.615
Can. dollar          210.899
Aus. dollar          201.817
Cyprus pound         560.976
Euro                 323.739

Athens News Agency: News in English Directory - Previous Article - Next Article