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.

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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.........

Thursday, July 14, 2011

Italy : austerity package..[ 2333 ]

Italian Senate passes austerity package

Shops for rent in Rome (13 July 2011)

The measures aim to balance the budget by 2014

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BBC.,,14 July 2011 Last updated at 14:13 GMT

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The Italian Senate has passed a tough austerity budget, including cuts of 48bn euros ($67bn; £42bn) over three years.

The lower house must also adopt the measures in a vote on Friday. Correspondents say that is likely.
Italy has one of the largest debt mountains in the eurozone and wants to avoid any need for a bail-out.
Italian PM Silvio Berlusconi has said Italy is on the front line of the eurozone's economic difficulties.
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Italy raised 2.97bn euros ($4.2bn; £2.6bn) through a sale of 15-year government bonds on Thursday, but had to offer a 5.9% rate of return - an all-time high for such bonds.
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'Monster' threat
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BBC Europe editor Gavin Hewitt, in Rome, says both the government and the opposition know that Italy is under fierce scrutiny by the markets due to its large debts.
Earlier this week, the International Monetary Fund (IMF) asked Italy to ensure "decisive implementation" of spending cuts.
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In a report, the IMF said Italy must make efforts to reduce public debt, maintain the stability of its financial sector and introduce structural reforms to boost growth.
The package was put to parliament ahead of schedule, amid concerns that Italy may be the next country to be hit by the eurozone's debt crisis.
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Opposition parties voted against the package but agreed not to delay it, so as not to prolong uncertainty in the markets.
It passed by 161 votes to 135 in the Senate on Thursday.
Italy's Finance Minister Giulio Tremonti hopes his package will cut the deficit to zero by 2014 from this year's 3.9% of gross domestic product.
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He said in parliament that, without the budget, ''the monster debt from our past will swallow up our future''.

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