The Hellenic Navy (HN) (Greek: Πολεμικό Ναυτικό, Polemikó Naftikó, abbreviated ΠΝ) is the naval force of Greece, part of the Greek Armed Forces. The modern Greek navy has its roots in the naval forces of various Aegean Islands, which fought in the Greek War of Independence. During the periods of monarchy (1833–1924 and 1936–1973) it was known as the Royal Navy (Βασιλικόν Ναυτικόν, Vasilikón Naftikón, abbreviated ΒΝ).The total displacement of all the navy's vessels is approximately 150,000 tons.The motto of the Hellenic Navy is "Μέγα το της Θαλάσσης Κράτος" from Thucydides' account of Pericles' oration on the eve of the Peloponnesian War. This has been roughly translated as "Great is the country that controls the sea". The Hellenic Navy's emblem consists of an anchor in front of a crossed Christian cross and trident, with the cross symbolizing Greek Orthodoxy, and the trident symbolizing Poseidon, the god of the sea in Greek mythology. Pericles' words are written across the top of the emblem. "The navy, as it represents a necessary weapon for Greece, should only be created for war and aim to victory."...............The Hellenic Merchant Marine refers to the Merchant Marine of Greece, engaged in commerce and transportation of goods and services universally. It consists of the merchant vessels owned by Greek civilians, flying either the Greek flag or a flag of convenience. Greece is a maritime nation by tradition, as shipping is arguably the oldest form of occupation of the Greeks and a key element of Greek economic activity since the ancient times. Nowadays, Greece has the largest merchant fleet in the world, which is the second largest contributor to the national economy after tourism and forms the backbone of world shipping. The Greek fleet flies a variety of flags, however some Greek shipowners gradually return to Greece following the changes to the legislative framework governing their operations and the improvement of infrastructure.Blogger Tips and Tricks
This is a bilingual blog in English and / or Greek and you can translate any post to any language by pressing on the appropriate flag....Note that there is provided below a scrolling text with the 30 recent posts...Αυτό είναι ένα δίγλωσσο blog στα Αγγλικά η/και στα Ελληνικά και μπορείτε να μεταφράσετε οποιοδήποτε ποστ σε οποιαδήποτε γλώσσα κάνοντας κλικ στη σχετική σημαία. Σημειωτέον ότι παρακάτω παρέχεται και ένα κινούμενο κείμενο με τα 30 πρόσφατα ποστς....This is a bilingual blog in English and / or Greek and you can translate any post to any language by pressing on the appropriate flag....Note that there is provided below a scrolling text with the 30 recent posts...Αυτό είναι ένα δίγλωσσο blog στα Αγγλικά η/και στα Ελληνικά και μπορείτε να μεταφράσετε οποιοδήποτε ποστ σε οποιαδήποτε γλώσσα κάνοντας κλικ στη σχετική σημαία. Σημειωτέον ότι παρακάτω παρέχεται και ένα κινούμενο κείμενο με τα 30 πρόσφατα ποστς.........

Saturday, May 1, 2010

UK,General Election, Sterling up ??... [ 1129 ]




Pound on the up as Conservative poll hopes grow

Hugo Duncan Hugo Duncan

30.04.10

Sterling rose today and gilts rallied as opinion polls showing David Cameron won the final leaders' debate eased fears of a hung parliament.
The pound was on course for its first monthly gain against the dollar for six months �up 0.25 cents to $1.5345 �amid signs the Tories could secure an overall majority in the general election.


Leaders debate
Final words: David Cameron, Nick Clegg and Gordon Brown at the last TV debate
Government bonds also edged higher, pushing gilt yields down, after polls showed Tory leader Cameron beat Nick Clegg and Gordon Brown in last night's televised debate on the economy.

The Tories have pledged to start cutting government spending immediately if they win next week's vote, while Labour and the Liberal Democrats do not plan to take action until 2011.
Mark Schofield, head of interest rate strategy at Citi, said: �the Conservatives are getting close to levels that could given them a majority and we could be moving away from a hung parliament. In that case, the market expects a significant fiscal tightening and a big rally in gilts.�/p>
Fears that the vote on May 6 would produce a hung parliament and a government too weak to tackle the record budget deficit have weighed heavily on sterling in recent weeks.

The pound was trading at around $1.70 just six months ago when the Tories were well ahead in the polls, but sank to $1.48 last month as the lead evaporated. Polls today showed the Cameron lead growing once again.

Lee Hardman, a foreign exchange strategist at Bank of Tokyo Mitsubishi in London, said: �terling is rising as the probabilty of a majority Conservative government has increased after Cameron's performance. A majority government will give a short relief rally to the pound.�/p>
The yield on 10-year gilts �how much it costs Britain to borrow on international money markets �fell two basis points from 3.95% to 3.93%.
Yields on two-year bonds benefited even more, falling almost five basis points to 1.18%
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