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.........

Wednesday, May 12, 2010

Spain budget amid EU economic fears... [ 1229 ]

Spain unveils deep budget cuts amid EU economic fears

Spanish Prime Minister Jose Luis Rodriguez Zapatero 
BBC   Wednesday, 12 May 2010 10:56 UK 
Spain's PM has outlined a plan to tackle the country's budget crisis, amid concerns that problems afflicting Greece may spread across the eurozone.
Jose Luis Rodriguez Zapatero announced a 5% cut to public sector salaries, as well as reductions to pensions and regional government funding.
He said the plan would save about 15bn euros ($19bn; £12.5bn) over two years.
Prime inister Zapatero has come under pressure to make faster cuts

At the weekend Spain said it wanted to drastically reduce its budget deficit, which currently stands at 11% of GDP.
The aim of the new package is to trim this deficit to 6% of GDP in 2011.
                                                                                                                                                             
In his speech to parliament, Mr Zapatero revealed other details of the plan. Automatic increases in pensions will be suspended from 2011 and funding for regional governments cut.
"We aim to cut civil service wages by an average of 5% in 2010 and freeze them in 2011," he added.
He said his own salary and those of senior cabinet members would be cut by 15%.

SPANISH COST-CUTTING PLAN


  • 5% average pay cut for public workers in 2010
  • Payout scrapped to parents for birth of children
  • Automatic inflation-adjustments for pensions suspended
  • Funding to regions cut by 1.2bn euros
Mr Zapatero said he wanted "to contribute, with our financial stability, to the financial stability of the eurozone".
The cabinet is to vote on the new proposals later this week.
The BBC's Sarah Rainsford in Madrid says Mr Zapatero approved an austerity package in January but that since then little has happened.
Our correspondent says Mr Zapatero had shied away from really painful measures.
But Madrid is now under pressure from the European Commission to deliver.
EU jitters The European Union has been anxious to see more fragile European economies including Spain, Portugal and Greece impose tougher austerity measures.
On Sunday it approved a 750bn-euro rescue package to prop up European economies struggling with large debts.
Many Spaniards fear the effect the cuts will have on the economy, which has already contracted sharply, and where the unemployment rate exceeds 20% - twice the eurozone average.
Mr Zapatero was speaking as government statistics showed Spain had moved out of recession in the first quarter of this year, with growth of 0.1%.
On Tuesday US President Barack Obama called Mr Zapatero, urging him to take "resolute action".
The White House said Mr Obama was actively engaged in lessening the global impact of Europe's debt crisis.
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